News Shots

TCS founder Faqir Chand Kohli dies at 96. He was referred to as the father of the Indian IT industry.

Vaccine major Serum Institute of India said the Covid-19 vaccine developed by AstraZeneca and Oxford University is safe and effective, and the Indian trials are progressing smoothly with strict adherence to all protocols.

Future Retail accused Amazon of adopting a media strategy of “having every development reported and converted into a line of communication with stock exchanges” regarding the Amazon-Future Coupons’ arbitration proceedings in Singapore.

Mahindra & Mahindra announced a share swap deal with TVS Automobile Solutions to merge its multi-brand car and two-wheeler service venture — Mahindra First Choice Services Ltd — with TASL.

Textile and apparels firm Raymond has approved raising of Rs 40 crore through a private placement of non-convertible debentures.

CG Power and Industrial Solutions reported Murugappa Group firm Tube Investments of India has acquired a controlling stake in it and now holds 50.62 percent of the company’s paid-up share capital.

Jubilant Life Sciences has issued commercial papers worth Rs 90 crores.

AU Small Finance Bank makes a strategic investment of Rs 7.7 crore in the National Payments Council of India by acquiring 0.44% stake at Rs 1,256 per share.

What to expect today?

Yesterday, NIFTY opened with a small gap up and then started moving down. It went down till 12,800 and took support there. At around noon, the RBI Governor gave a speech which was very positive about our economy. This pumped positivity into the market and NIFTY  rose  till 13,000 in quick time. Click here for a detailed analysis of yesterday’s market and stock movements. 

Similar rally in Bank Nifty also after the speech. Bank Nifty, crossed the resistance at 29,400 and closed above 29,500.

Almost all the sectors ended in green yesterday. NIFTY METAL was the buzzing sector, gaining over 3%.

Reliance gave a pure range bound movement yesterday between 1960 and 1935. Breaking this range can give a good trading opportunity today.

The European markets are flat. The US markets were closed. Asian markets are also mostly flat, with a negative bias. SGX NIFTY is trading at 13,063, which is nearly 20 points higher, indicating a flat to gap up opening in the Indian Market. 

NIFTY is likely to trade between 12,950 and 13,150.

Markets seem to be continuing the bullishness after the fall on Wednesday. Today will be decisive and will give an idea as to where the market will be heading in the coming week.

Highest Call Open Interest at 13,000, followed by 13,500. Highest Put Open Interest at 12,800, followed by 12,900.

Foreign institutional investors (FIIs) net bought shares worth Rs 2,027.31 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 3,400.1 crore in the Indian equity market.

We are reaching the end of the November series, where NIFTY rallied nearly 15% and Bank Nifty rallied nearly 25%. The December series, with 5 expiries, will definitely be more volatile.

Monday is a holiday for the Indian markets because of Gurunanak Jayanti. So, weekend theta decay gainers can definitely plan to enter into a trade today.

Q2 GDP Data will be announced in the evening. Let us discuss that in today evening’s The Stock Market Show.

Follow us on marketfeed app’s livefeed section to get real time updates from the market. All the best for the day!