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India Stocks Review:Indices crawl to new closing high, gain 1% for wk

Informist, Friday, Nov 25, 2022

 

By Apoorva Choubey 

 

MUMBAI – Lack of major triggers and muted participation led to an extremely choppy session for benchmark equity indices today, but late gains in index major Reliance Industries and automobile stocks helped the Nifty 50 and the Sensex crawl to fresh lifetime highs. 

 

Investors stayed on the sidelines due to absence of cues from the US market, which was shut on Thursday for Thanksgiving, said analysts.

 

“While most of the Asian gauges ended in the red, local benchmarks managed to eke out modest gains amid thin volumes,” said Amol Athawale, deputy vice president –technical research at Kotak Securities Ltd. 

 

Surging COVID-19 cases in China and data showing Japan’s retail inflation was at its highest in over 40 years weighed on stocks in Asia. 

 

The Nifty 50 ended 0.2% higher at 18512.75 points and the Sensex closed largely flat at 62293.64 points. The Sensex hit an intraday all-time high as well, while the Nifty 50 remains about 70 points shy of its own.  

 

“Overall sentiment in the market is positive…however, there is some confusion among investors on where to invest,” said Vishal Wagh, head of research at Bonanza Portfolio. He is bullish on railway stocks due to hope that some supportive measures may be announced in the upcoming Union Budget. 

 

Both indices have gained around 1% this week as sentiment received a boost after minutes of the last US Federal Reserve meeting showed officials favoured smaller rate hikes. 

 

India VIX has fallen to one-year lows in recent sessions. The volatility gauge dropped another 1% today to close at 13.3325. 

 

What was noteworthy about today’s trade was the outperformance of the broader market, said a dealer at a mutual fund house. The momentum in mid- and small-caps showed that there were risk-takers out there, willing to invest in value stocks, he said. 

 

The Nifty MidCap 100 and the Nifty SmallCap 100 gained 1% each today. 

 

LEADING MOVERS

Automobile, real estate and media indices were among the best sectoral performers, ending 1-2.5% higher, while financial services and consumer staples were the biggest laggards and closed 0.3% lower each.

 

Nestle India was worst hit among Nifty 50 companies and ended 1% lower. On the other hand, HDFC Life Insurance Co gained the most, up 2.5%, and RIL rose 1.5%. 

 

PB Fintech surged nearly 7% as WF Asian Smaller Companies Fund, a foreign portfolio investor, increased its stake in the company on Thursday.

 

Indiabulls Housing Finance, Gujarat State Petronet and Bharat Heavy Electricals led the gains on the Nifty 500 index, jumping 7-12%. 

 

One97 Communications Ltd, which owns Paytm, broke a four-day downslide, rising 6% today after Citigroup Global Markets gave a positive outlook for the stock.

 

* Among Nifty 50 stocks, 29 rose, 21 fell 

* Among Sensex stocks, 15 rose, 15 fell 

* On the BSE, 2,112 stocks rose, 1,390 fell, and 130 were unchanged

* Nifty Media: Up 2.5%; Nifty Realty: Up 1.2%; Nifty FMCG: Down 0.3%

BSE                                                 National Stock Exchange
Sensex: 62293.64, up 20.96 pts (0.03%)              Nifty 50: 18512.75, up 28.65 pts (0.2%) 

S&P BSE Sensitive Index                             Nifty 50
Lifetime High: 62447.73 (Nov 25, 2022)           :  Lifetime High: 18604.45 (Oct 19, 2021)
Record Close High: 62293.64 (Nov 25, 2022)       :  Record Close High: 18512.75 (Nov 25, 2022)

2022 1st day close: 59183.22 (Jan 3)             :  2022 1st day close: 17625.70 (Jan 3)
2022 Closing High: 62293.64 (Nov 25)             :  2022 Closing High: 18512.75 (Nov 25) 
2022 Closing Low: 51360.42 (Jun 17)              :  2022 Closing Low: 15293.50 (Jun 17)
2022 High (intraday): 62447.73 (Nov 25)          :  2022 High (intraday): 18534.90 (Nov 25)

2022 Low (intraday): 50921.22 (Jun 17)           :  2022 Low (intraday): 15183.40 (Jun 17)
2021 Closing High: 61305.95 (Oct 14)             :  2021 Closing High: 18338.55 (Oct 14) 
2021 Closing Low: 46285.77 (Jan 29)              :  2021 Closing Low: 13634.60 (Jan 29)
2021 High (intraday): 61353.25 (Oct 14)          :  2021 High (intraday): 18350.75 (Oct 14)
2021 Low (intraday): 46160.46 (Jan 29)           :  2021 Low (intraday): 13596.75 (Jan 29)-

2020 Closing High: 47751.33 (Dec 31)             :  2020 Closing High: 13981.95 (Dec 30)
2020 Closing Low: 25981.24 (Mar 23)              :  2020 Closing Low: 7610.25 (Mar 23)
2020 High (intraday): 47896.97 (Dec 31)          :  2020 High (intraday): 14024.85 (Dec 31)
2020 Low (intraday): 25638.90 (Mar 24)           :  2020 Low (intraday): 7511.10 (Mar 24)
2019 High (intraday): 41809.96 (Dec 20)          :  2019 High (intraday): 12293.90 (Dec 20)
2019 Low (intraday): 35287.16 (Feb 19)           :  2019 Low (intraday): 10583.65 (Jan 29)
2018 High (intraday): 38938.91(Aug 28))          :  2018 High(intraday): 11760.20 (Aug 28)
2018 Low (intraday): 32483.8 (Mar 23)            :  2018 Low (intraday): 9951.9 (Mar 23)
2017 High (intraday): 34005.37 (Dec 26)          :  2017 High(intraday): 10515.10 (Dec 26)

 

End

 

With inputs from Anjana Therese Antony 

Edited by Avishek Dutta

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

 

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Source: Cogencis

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