Informist, Thursday, Nov 30, 2023
By Maitri Seth
MUMBAI – The benchmark indices ended slightly higher today, with market participants attributing the gains to an overall positive sentiment ahead of exit polls for Assembly elections, domestic economic data, and stellar stock debuts.
The Nifty 50 closed 36.55 points, or 0.2%, higher at 20133.15 points, and the Sensex ended higher by 86.53 points, or 0.1%, at 66988.44 points. Both the indices hit fresh over two-month highs of 20158.70 points and 67069.89 points. The broader indices outperformed the blue-chips, with all mid- and small-cap indices closing 0.7-1.1% higher.
Stellar listing of Tata Technologies and Gandhar Oil Refinery (India) helped keep the market sentiment positive, said Viraj Vyas, technical and derivatives analyst at Ashika Group.
On the National Stock Exchange, shares of Tata Technologies listed at 1,200 rupees, a premium of 140% against the issue price of 500 rupees. Shares of Gandhar Oil Refinery listed at 298 rupees, a premium of 76.3% to the issue price of 169 rupees.
However, shares of Fedbank Financial Services saw a weak debut, listing at a discount of 1.4% at 138 rupees against the issue price of 140 rupees.
Analysts said there was some volatility ahead of the monthly derivatives expiry. Investors were also cautious ahead of India’s GDP data for Jul-Sep, due for release after market hours.
“On the economic front, most economists believe the GDP for July-September will grow by 7%, lower than 7.8% in the previous quarter”, said Avdhut Bagkar, technical and derivatives analyst at StoxBox.
The decision of the Organization of the Petroleum Exporting Countries and its allies on further production cuts is also due today.
“However, caution prevailed amongst the investors ahead of the exit poll results of five states later today, and the market could see a knee-jerk reaction in the next trading session,” said Prashanth Tapse, senior vice-president (research) at Mehta Equities.
Pharmaceutical and healthcare were top sectoral gainers. The Nifty Pharma and Nifty Healthcare indices ended 1.6% and 1.8% higher, respectively, with gains seen across constituents. Shares of Divi’s Laboratories hit a two-month high of 3,809 rupees and closed 1.6% higher. Alembic Pharmaceuticals rose over 13%, but later came off its high and closed 3.4% higher.
On the other hand, nearly 1% fall in index-heavyweight Reliance Industries weighed on the Nifty 50. Meanwhile, banks and information technology companies were the worst-hit sectors, with heavyweights such as IndusInd Bank closing 1.8% lower.
On the MSCI rejig, market participants believe that most impact of the rejig is already been priced in, hence not much movement was seen on that note today.
Among specific stocks, UltraTech Cement was the top gainer in the Nifty 50. The stock closed 3.1% higher, a day after the company acquired the cement grinding assets of Burnpur Cement at Patratu in Jharkhand. Shares of Aether Industries fell 6.2% to an over one-year low of 778 rupees, extending losses for the second day. A local government official today told Informist that the Gujarat Pollution Control Board has issued a closure notice to the company’s Surat manufacturing plant in Gujarat.
For Friday, analysts have pegged 20000 points as the immediate support for Nifty 50, and the lifetime high of 20222.45 points as the crucial resistance.
* Of the Nifty 50 stocks, 32 rose and 17 fell, 1 unchanged
* Of the Sensex stocks, 17 rose and 13 fell
* On the BSE, 1,898 stocks rose, 1,810 fell, and 149 were unchanged
* Nifty Healthcare: Up 1.78%; Nifty Pharma: Up 1.56%; Nifty PSU Bank: Down 1.1%
BSE NSE
Sensex: 66988.44, up 86.53 pts or 0.13% Nifty 50: 20133.15, up 36.55 pts or 0.18%
S&P BSE Sensitive Index Nifty 50
Lifetime High: 67927.23 (Sep 15, 2023) : Lifetime High: 20222.45 (Sep 15, 2023)
Record Close High: 67838.63 (Sep 15, 2023) : Record Close High: 20192.35 (Sep 15, 2023)
2023 1st day close: 61167.79 (Jan 2) : 2023 1st day close: 18197.45 (Jan 2)
2023 Closing High: 67838.63 (Sep 15, 2023) : 2023 Closing High: 20192.35 (Sep 15)
2023 Closing Low: 59288.35 (Feb 27) : 2023 Closing Low: 17311.80 (Oct 17)
2023 High (intraday): 67927.23 (Sep 15) : 2023 High (intraday): 20222.45 (Sep 15)
2023 Low (intraday): 58699.20 (Jan 30) : 2023 Low (intraday): 17098.55 (Jan 17)
2022 1st day close: 59183.22 (Jan 3) : 2022 1st day close: 17625.70 (Jan 3)
2022 Closing High: 63284.19 (Dec 1) : 2022 Closing High: 18812.50 (Dec 1)
2022 Closing Low: 51360.42 (Jun 17) : 2022 Closing Low: 15293.50 (Jun 17)
2022 High (intraday): 63583.07 (Dec 1) : 2022 High (intraday): 18887.60 (Dec 1)
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
Edited by Ashish Shirke
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.
Informist Media Tel +91 (22) 6985-4000
Send comments to [email protected]
© Informist Media Pvt. Ltd. 2023. All rights reserved.
Source: Cogencis
