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Nifty above 20,800; PSU Bank stocks surge.

The domestic equity indices hit a fresh all-time high in morning trade. The Nifty traded above the 20,800 level. PSU Bank shares witnessed strong buying for the third consecutive trading session.

The barometer index, the S&P BSE Sensex, was up 425.88 points or 0.62% to 69,299.65. The Nifty 50 index added 143.15 points or 0.69% to 20,829.95.

The Sensex clocked an all-time high of 69,336.44 while the Nifty hit record high of 20,834 in early trade. Further, the Nifty Bank index also registered its fresh record high of 47,218.20.

In the broader market, the S&P BSE Mid-Cap index gained 0.46% while the S&P BSE Small-Cap index advanced 0.61%. The S&P BSE Mid-Cap index and S&P BSE Small-Cap index has hit an all time high of 35,182.26 and 41,316.16.

The market breadth was strong. On the BSE, 2,058 shares rose, and 819 shares fell. A total of 106 shares were unchanged.

Buzzing Index:

The Nifty PSU Bank index advanced 2.8% to 5,459.35. The index jumped 8.3% in three trading sessions.

Indian Overseas Bank (up 3.53%), Punjab & Sind Bank (up 3.16%), Union Bank of India (up 2.93%), State Bank of India (up 2.41%) and Bank of Baroda (up 2.06%) were the top gainers.

Among the other gainers were Bank of India (up 2.01%), Bank of Maharashtra (up 1.96%), UCO Bank (up 1.89%), Punjab National Bank (up 1.61%) and Canara Bank (up 1.59%).

Stocks in Spotlight:

DCB Bank jumped 3.94% after the Company?s board of directors of the bank is scheduled on 08 December 2023 to consider and approve Aga Khan Fund for Economic Development (the Promoter) has expressed its interest to invest up to $10 million by subscribing to additional equity shares of the bank.

Brigade Enterprises added 2.99% after the company has entered into a joint development agreement with land owners to develop a luxury residential project, spread over 4 acres at Kurubarahalli, Mysore. The developable area of the project will be about 0.40 million square feet with a gross development value (GDV) of Rs 300 crore.

HCL Technologies declined 1.59%. HCL Investments UK Limited, (HCL UK) a step-down wholly owned subsidiary of the company has entered into a Memorandum of Understanding with its Joint Venture (JV) partner, State Street International Holdings, a US corporation (State Street), pursuant to which HCL UK is entering into discussions to finalize modalities for State Street to exercise its right of Call Option in the JV and acquire HCL UK?s entire 49% equity stake in the JV that was formed in the year 2012 to provide business operations services.

JSW Infrastructure jumped 3.36% after the JSW Dharamtar Port (wholly owned subsidiary of company) has entered into share purchase and other relevant transaction documents for acquisition of 50% plus 1 shares of PNP Maritime Services from SP Port Maintenance (A Shapoorji Pallonji Group Company).

Numbers to Track:

The yield on India's 10-year benchmark federal paper fell 0.08% to 7.265 as compared with previous close 7.271.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.3750, compared with its close of 83.3800 during the previous trading session.

MCX Gold futures for 5 December 2023 settlement rose 0.43% to Rs 62,635.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.08% to 103.65.

The United States 10-year bond yield declined 1.03% to 4.245.

In the commodities market, Brent crude for January 2024 settlement rose 2 cent or 0.03% to $78.05 a barrel.

Global Markets

Asian stocks are trading lower on Tuesday as investors assessed a slew of economic data from across the region. The Caixin China services purchasing managers? index for November climbed to its highest in three months. This private survey reading came in at 51.5 in November, rising from 50.4 in October and 50.2 in September.

US stocks ended lower on Monday as investors turned cautious ahead of employment data due this week that could alter expectations that the Federal Reserve will cut interest rates early next year.

The key equity indices traded with major gains in early trade. The Nifty traded above the 20,550 level. Barring the Nifty Media index, all the other sectoral indices on the NSE traded in the green.

The barometer index, the S&P BSE Sensex, was up 1000.71 points or 1.48% to 68,481.90. The Nifty 50 index added 294.85 points or 1.45% to 20,564.75.

The benchmark, Nifty50 and Sensex index hit a fresh all-time high of 20,602.50 and 68,587.82 in early trade respectively.

In the broader market, the S&P BSE Mid-Cap index and S&P BSE Small-Cap index gained 0.91%. The S&P BSE Mid-Cap index and S&P BSE Small-Cap index has hit an all time high of 35,124.23 and 41,221.91.

The market breadth was strong. On the BSE, 2,416 shares rose, and 583 shares fell. A total of 135 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,589.61 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,448.08 crore in the Indian equity market on 1 December, provisional data showed.

Numbers to Track:

The yield on India's 10-year benchmark federal paper declined 0.36% to 7.264 as compared with previous close 7.290.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.2975, compared with its close of 83.3350 during the previous trading session.

MCX Gold futures for 5 December 2023 settlement rose 0.69% to Rs 63,550.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.05% to 103.22.

The United States 10-year bond yield advanced 0.67% to 4.252.

In the commodities market, Brent crude for January 2024 settlement declined 44 cents or 0.56% to $78.44 a barrel.

Politics:

The BJP is set to form the government in Chhattisgarh, Rajasthan and Madhya Pradesh. The counting of votes in Rajasthan concluded with the BJP securing a landslide victory with 115 seats. Meanwhile, the ruling Congress won 69 seats out of the 199 which had gone to the polls on November 25. In Chhattisgarh, the BJP won 54 seats, the ruling Congress won 35 and the Gondvana Gantantra Party managed to win one seat.

In Telangana, Congress won 64 seats, the ruling Bharat Rashtra Samithi won 39, the BJP got eight seats, and AIMIM won seven. The Communist Party of India won one seat. The BJP has won 163 of the total 230 seats in the Madhya Pradesh Assembly. On the other hand, the Congress has won 66 seats.

Stocks in Spotlight:

Hero MotoCorp rose 1.29% after the two-wheeler major's total sales jumped 25.61% to 491,050 units in November 2023 as compared with 390,932 units sold in November 2022.

Tata Power rallied 2.03% after the company has secured the bid to acquire Bikaner-III Neemrana-II Transmission, a project special purpose vehicle (SPV) established by PFC Consulting. The project's estimated cost is Rs 1,544 crore and will be developed on Build-Own-Operate-Transfer (BOOT) basis.

Multi Commodity Exchange of India (MCX) rose 0.04% after the company said that Mithun Nayak has joined as deputy chief technology officer (CTO) with effect from 1 December 2023.

Alkem Laboratories shed 0.40% after the company said that US Food and Drug Administration (USFDA) had conducted an inspection at its API manufacturing facility located at Mandva, Gujarat.

Global markets:

Asian stocks are trading mixed on Monday, with investors awaiting a slew of key economic data Tuesday and inflation readings later this week.

US stocks ended higher on Friday with the S&P registering its highest close of the year after remarks from US Federal Reserve Chair Jerome Powell boosted the view that key policy rates have peaked.

US Federal Reserve Chair Jerome Powell on Friday reaffirmed the central bank?s intent to remain cautious on interest rates but also said that the hoped-for ?soft landing of the US economy seemed to be falling into place.

The key equity indices traded with decent gains in early trade. The Nifty marched above the 20,200 level. Barring the Nifty IT index, all the other sectoral indices on the NSE traded in the green.

The barometer index, the S&P BSE Sensex, was up 314.47 points or 0.47% to 67,302.91. The Nifty 50 index added 91.10 points or 0.45% to 20,224.25.

The benchmark, Nifty50 index hit a fresh all-time high in early trade at 20,232.75.

In the broader market, the S&P BSE Mid-Cap index gained 0.59% while the S&P BSE Small-Cap index advanced 0.70%. The S&P BSE Mid-Cap index and S&P BSE Small-Cap index has hit an all time high of 34,481.70 and 40,718.81.

The market breadth was strong. On the BSE, 2,139 shares rose, and 595 shares fell. A total of 95 shares were unchanged.

On the macro front, the S&P Global Services PMI for November will be declared today, 1 December 2023.

India's gross domestic product (GDP) for the second quarter of the ongoing financial year accelerated to 7.6% year-on-year, showed data shared by the Ministry of Statistics and Programme Implementation on Thursday. In the same period last year, the GDP growth stood at 6.2%.

Foreign portfolio investors (FPIs) bought shares worth Rs 8,147.85 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 780.32 crore in the Indian equity market on 30 November, provisional data showed.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.15% to 7.290 as compared with previous close 7.279.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.2800, compared with its close of 83.3775 during the previous trading session.

MCX Gold futures for 5 December 2023 settlement lost 0.09% to Rs 62,500.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.17% to 103.32.

The United States 10-year bond yield slipped 0.32% to 4.335.

In the commodities market, Brent crude for January 2024 settlement declined 40 cents or 0.49% to $80.46 a barrel.

Stocks in Spotlight:

LTI Mindtree rose 0.73%. LTIMindtree announced that it has been selected as a strategic partner by Metasphere, a wastewater application specialist, to scale their Smart Sewers management platform. As a part of this engagement, LTIMindtree will transform Metasphere?s next-generation wastewater monitoring solution portfolio, and enable scalable delivery and platform to their customers.

Power Grid Corporation of India added 0.69%. The company has been declared as successful bidder under Tariff Based Competitive Bidding to establish two Inter-State Transmission System Projects under Build, Own Operate and Transfer (BOOT) basis.

Dixon Technologies (India) advanced 0.96%. Padget Electronics, wholly owned subsidiary of Dixon Technologies (India), inaugurated a new smartphone manufacturing plant in the Noida district, Uttar Pradesh on 30 November 2023.

Global markets:

Asian stocks were trading mostly lower on Friday, breaking ranks with Wall Street which mostly advanced on Thursday, amid mixed economic data from across the region.

China?s manufacturing sector unexpectedly expanded in November, according to a survey by Caixin. The Caixin purchasing managers? index climbed to 50.7 last month from 49.5 in October, as a rise in new orders helped lift factory production.

US stocks were mixed on Thursday as investors continued to bet on interest rate cuts after a key reading on consumer inflation. Data released early Thursday showed that the personal consumption expenditures price index rose 3.5% on a year-over-year basis, a slowing from a 3.7% annual gain in prior month.

Domestic equity barometers traded with minor losses in morning trade. The Nifty traded near the 20,050 level. Bank shares witnessed profit booking after rising in the past four trading sessions. Trading could be volatile due to November F&O series expires today.

The barometer index, the S&P BSE Sensex, was down 182.62 points or 0.27% to 66,719.29. The Nifty 50 index added 41.55 points or 0.21% to 20,055.05.

In the broader market, the S&P BSE Mid-Cap index gained 0.19% while the S&P BSE Small-Cap index advanced 0.02%.

The market breadth was negative. On the BSE, 1,608 shares rose, and 1,767 shares fell. A total of 203 shares were unchanged.

New Listing:

Shares of Tata Technologies were currently trading at Rs 1,304.25 at 10:13 IST on the BSE, representing a premium of 160.85% as compared with the issue price of Rs 500.

The scrip was listed at Rs 1,199.95, exhibiting a premium of 140% to the issue price. So far, the stock has hit a high of 1,400 and a low of 1199.95. On the BSE, over 17.53 lakh shares of the company were traded in the counter so far.

Shares of Gandhar Oil Refinery (India) were currently trading at Rs 305.60 at 10:13 IST on the BSE, representing a premium of 80.83% as compared with the issue price of Rs 169.

The scrip was listed at Rs 295.40, exhibiting a premium of 74.79% to the issue price. So far, the stock has hit a high of 344.60 and a low of 295.40. On the BSE, over 14.67 lakh shares of the company were traded in the counter so far.

Shares of Fedbank Financial Services were currently trading at Rs 136.55 at 10:09 IST on the BSE, representing a discount of 2.46% as compared with the issue price of Rs 140.

The scrip was listed at Rs 137.75, exhibiting a discount of 1.61% to the issue price. So far, the stock has hit a high of 139.55 and a low of 133.15. On the BSE, over 3.27 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Bank index fell 0.43% to 44,375.90. The index added 2.57% in past four trading sessions.

Punjab National Bank (down 1.33%), Federal Bank Ltd (down 1.06%), ICICI Bank Ltd (down 0.89%), IndusInd Bank Ltd (down 0.74%), HDFC Bank Ltd (down 0.64%), State Bank of India (down 0.26%) and Kotak Mahindra Bank Ltd (down 0.16%) slipped.

On the other hand, Bandhan Bank Ltd (up 2.47%) ,Bank of Baroda (up 1.29%) and Axis Bank Ltd (up 0.76%) edged higher.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.01% to 7.253 as compared with previous close 7.252.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.3025, compared with its close of 83.3250 during the previous trading session.

MCX Gold futures for 5 December 2023 settlement added 0.03% to Rs 62,621.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.04% to 102.81.

The United States 10-year bond yield slipped 0.06% to 4.269.

In the commodities market, Brent crude for January 2024 settlement declined 5 cent or 0.06% to $83.05 a barrel.

Politics:

On the political front, all eyes are set on exit poll results. The exit polls results for all the five states ? Rajasthan Madhya Pradesh, Mizoram, Chhattisgarh and Telangana ? will be declared after the voting ends in Telangana on Thursday. The assembly elections in these five states were held between November 7 and November 30. The counting of votes will be held on December 3. The state polls are being considered as a semi-final before the 2024 assembly elections.

Stocks in spotlight:

UltraTech Cement rose 1.66%after the company has acquired a 0.54 mtpa cement grinding assets of Burnpur Cement, located at Patratu in Jharkhand at a consideration of Rs.169.79 crore. The company?s capacity in India now stands at 133 mtpa.

Metro Brands rallied 5.84% and FSN E-Commerce Ventures advanced 1.80% after the Foot Locker, Inc., the New York-based specialty athletic retailer, announced the signing of a long-term licensing agreement with both the companies. This partnership will offer the most comprehensive selection of global sportswear and footwear to sneaker fans in India.

Global markets:

Asian stocks fell across the board on Thursday ahead of key economic data from the region. China?s factory activity shrank for a second straight month in November. The official manufacturing purchasing managers? index fell slightly to 49.4 in November from 49.5 in October, according to data from the National Bureau of Statistics released Thursday.

Retail sales rose in Japan, but at the slowest pace so far this year, while industrial output during the same month increased more than expected. Official data showed Japan retail sales rose 4.2% last month. Japan?s factory output gained 1.0% in October.

South Korea?s central bank held its benchmark policy rate at 3.5% for the seventh meeting in a row, in line with expectations. In its announcement, the Bank of Korea said that ?although inflation has been elevated than previously expected, it is projected to continue its underlying trend of a slowdown.?

US stocks remained near the flat line on Wednesday, even as the U.S. economy grew more than expected. GDP in the third quarter accelerated at a 5.2% annualized pace, above the initial estimate of 4.9%.

Investors will focus on the Fed's preferred measure of inflation on Thursday and Euro Zone consumer inflation figures for further clarity on the where inflation is headed. Fed Chair Jerome Powell is due to speak on Friday. His words will be scrutinized by traders to gauge where rates may head.

Oil prices settled more than 1% higher on Wednesday as futures contracts gain momentum ahead of key OPEC meeting on Thursday. OPEC and its allies, OPEC+, are set to hold a virtual meeting on production cuts.

The frontline equity indices continued to extend gains in mid-morning trade. The Nifty hovered above the 20,000 level. Auto stocks saw buying demand for sixth straight day.

The barometer index, the S&P BSE Sensex, was up 424.03 points or 0.64% to 66,598.23. The Nifty 50 index gained 127.30 points or 0.64% to 20,017.

In the broader market, the S&P BSE Mid-Cap index rose 0.82% while the S&P BSE Small-Cap index gained 0.41%.

The market breadth was strong. On the BSE, 2,089 shares rose and 1,433 shares fell. A total of 145 shares were unchanged.

Buzzing Index:

The Nifty Auto index gained 1.12% to 17,395.35. The index added 3.68% in six trading sessions.

Hero MotoCorp (up 2.95%), Samvardhana Motherson International (up 2.72%), Mahindra & Mahindra (up 2.38%), Tube Investments of India (up 1.76%), TVS Motor Company (up 1.42%), Bosch (up 1.37%), Bharat Forge (up 1.36%), Balkrishna Industries (up 0.86%), MRF (up 0.84%) and Bajaj Auto (up 0.81%) edged higher.

New Listing:

Shares of Indian Renewable Energy Development Agency (IREDA) were currently trading at Rs 54.67 at 10:20 IST on the BSE, representing a premium of 70.84% as compared with the issue price of Rs 32.

The scrip was listed at Rs 50, exhibiting a premium of 56.25% to the issue price. So far, the stock has hit a high of 55.70 and a low of 49.99. On the BSE, over 197.59 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty IT index gained 1.39% to 32,564.60. The index added 1.59% in the past trading session.

Mphasis Ltd (up 2.7%), Coforge Ltd (up 2.31%), Tech Mahindra Ltd (up 2.29%), Wipro Ltd (up 1.93%), L&T Technology Services Ltd (up 1.76%), Persistent Systems Ltd (up 1.65%), HCL Technologies Ltd (up 1.49%), Infosys Ltd (up 1.22%), LTIMindtree Ltd (up 1.2%) and Tata Consultancy Services Ltd (up 1.11%) advanced.

Stocks in Spotlight:

Global Health declined 0.33%. The company announced that Sanjeev Kumar has resigned from the position of chief financial officer (CFO) of the company due to personal reason. The last working date will be close of business hours, 15 December 2023.

Yatharth Hospital & Trauma Care Services dropped 10.14% following an order from the Commissionerate of Sagar Sambhag, Madhya Pradesh to take over the premises of Ramraja Hospital, citing government ownership.

Solar Industries India rose 0.20%. The company said that ICRA has reaffirmed the rating at [ICRA] A1+? on the commercial paper of the company, amounting to Rs 100 crore.

Global Markets:

Most of the Asian shares declined as investors assess comments from the U.S. Federal Reserve board members and digest Australia?s October inflation figures.

Australia?s weighted inflation rate for October slowed more than expected, coming in at 4.9%. This was also lower than the 5.6% seen in September. The overall inflation rate stood at 4.8%, its lowest level since January 2022.

On Tuesday, Federal Reserve Governor Christopher Waller said he was growing more confident that policy was in a place now to bring inflation back under control. However, he maintained that inflation was still too high. Waller also said the Fed might start lowering rates if inflation continues to ease over the next three to five months. In contrast, Governor Michelle Bowman said more rate hikes will likely be needed as evolving dynamics keep inflation elevated.

US stocks rose Tuesday, resuming their November rally, as comments from a Federal Reserve official raised hope that the central bank may not need to raise interest rates further.

Investors will focus this week on the Fed's preferred measure of inflation on Thursday and euro zone consumer inflation figures for further clarity on the where inflation is headed. Fed Chair Jerome Powell is due to speak on Friday. His words will be scrutinized by traders to gauge where rates may head.

The key equity indices traded near the flat line with small gains in morning trade. The Nifty traded above the 19,800 level. Oil & gas shares saw major buying demand.

The barometer index, the S&P BSE Sensex, was up 10.28 points or 0.02% to 65,980.32. The Nifty 50 index gained 24.95 points or 0.13% to 19,819.65.

In the broader market, the S&P BSE Mid-Cap index rose 0.06% while the S&P BSE Small-Cap index gained 0.31%. The S&P BSE Mid-Cap index and S&P BSE Small-Cap index hit an all time high of 40,069.26 and 33,731.14.

The market breadth was strong. On the BSE, 2,053 shares rose and 1,443 shares fell. A total of 199 shares were unchanged.

Buzzing Index:

The Nifty Oil & Gas index gained 1.54% to 8,286.55. The index slipped 0.22% in the past trading session.

Adani Total Gas Ltd (up 15.21%), Hindustan Petroleum Corporation Ltd (up 5.28%), Indian Oil Corporation Ltd (up 3.87%), Bharat Petroleum Corporation Ltd (up 3.08%) and Castrol India Ltd (up 1.71%), Gujarat State Petronet Ltd (up 0.9%), Gujarat Gas Ltd (up 0.62%), Petronet LNG Ltd (up 0.44%) and Oil & Natural Gas Corpn Ltd (up 0.11%) advanced.

On the other hand, Oil India Ltd (down 1.05%), Reliance Industries Ltd (down 0.62%) and GAIL (India) Ltd (down 0.44%) edged lower.

Stocks in Spotlight:

PTC India Financial Services slipped 2.03%. The firm has announced the resignation of Geeta Girdher, a senior management personal, from her role as Chief Compliance Officer (CCO). Girdher cited personal reasons for her resignation, which has been accepted by the board.

D B Realty advanced 2.45% after the company announced that its Promoter Group has sold shares worth Rs 301 crore for repaying related party transactions and unsecured interest free loan, thereby retiring the firms entire debt.

Netweb Technologies India jumped 8.08% after announcing collaboration with NVIDIA to advance AI and high-performance computing capabilities.

Maruti Suzuki India rose 0.28%. The company has planned to increase the prices of its cars in January 2024 on account of increased cost pressure driven by overall inflation and increased commodity prices. While the company makes maximum efforts to reduce cost and offset the increase, it may have to pass on some increase to the market.

Tata Consultancy Services (TCS) added 0.24%. TCS has launched its AWS generative AI practice, to help customers harness the full potential of AI and AWS generative AI services to transform different parts of their value chain and achieve superior business outcomes.

PB Fintech advanced 1.55% after the company said that it has made further investment of Rs 349.99 crore in its wholly owned subsidiary, Policybazaar Insurance Brokers.

Newgen Software Technologies hit an upper circuit of 5% after the company announced that its board has approved to issue 1 bonus equity shares for each share held. The company has set record date as on Friday, 12 January 2024.

Numbers to Track:

The yield on India's 10-year benchmark federal paper fell 0.18% to 7.259 as compared with previous close 7.272.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.3750, compared with its close of 83.4000 during the previous trading session.

MCX Gold futures for 5 December 2023 settlement added 0.15% to Rs 61,635.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.06% to 103.14.

The United States 10-year bond yield advanced 0.45% to 4.407.

In the commodities market, Brent crude for January 2024 settlement rose 22 cents or 0.28% to $80.20 a barrel.

Global Markets:

Asian stocks were trading higher on Tuesday, as investors remained convinced the US Federal Reserve was done with its rate-hike cycle and looked ahead to a crucial inflation report later this week.

European Central Bank President Christine Lagarde said on Monday the central bank's fight to contain price growth is not yet done, citing a still strong wage growth and an uncertain outlook even as inflation pressures in euro zone ease.

US stocks edged lower on Monday, with investors taking a post-Thanksgiving pause as the holiday shopping season kicked into high gear.

Domestic equity barometers were trading with minor gains in early trade. The Nifty traded above the 19,800 level. Barring the Nifty IT index, all the sectoral indices on the NSE were in the green.

The barometer index, the S&P BSE Sensex, was up 57.57 points or 0.09% to 66,075.38. The Nifty 50 index added 26.70 points or 0.13% to 19,828.70.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.43% while the S&P BSE Small-Cap index gained 0.63%.

The market breadth was strong. On the BSE, 1,985 shares rose and 690 shares fell. A total of 119 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 255.53 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 457.39 crore in the Indian equity market on 23 November, provisional data showed.

Stocks in Spotlight:

Lupin advanced 2.57% after the pharma major announced that it has received tentative approval from the United States Food and Drug Administration (U.S. FDA) for its Abbreviated New Drug Application for Canagliflozin Tablets, 100 mg and 300 mg, to market a generic equivalent of Invokana Tablets, 100 mg and 300 mg, of Janssen Pharmaceuticals, Inc. This product will be manufactured at Lupin?s Pithampur facility in India.

LTIMindtree rose 0.48%. The company has launched a state-of-the-art Quantum-Safe Virtual Private Network (VPN) link at its London premises. LTIMindtree leverages its integration and domain expertise to implement and operate the Quantum-Safe VPN link across its active network.

Union Bank of India gained 1.89%. ICRA has upgraded the ratings as AAA; upgraded from AA+ and revised Outlook to ?Stable? from ?Positive? of the Instruments of the bank.

Prestige Estates Projects shed 0.47%. The company announced the launch of Prestige Glenbrook?a highrise residential project situated in the heart of Whitefield, Bangalore's IT Hub. The development comprises of 285 apartments across two high-rise towers with a developable area of 0.7 Million sft and has a revenue potential of Rs. 550 crore.

Numbers to Watch:

The yield on India's 10-year benchmark federal paper rose 0.21% to 7.568 as compared with previous close 7.253.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.3525, compared with its close of 83.3450 during the previous trading session.

MCX Gold futures for 5 December 2023 settlement added 0.10% to Rs 61,135.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.08% to 103.81.

The United States 10-year bond yield advanced 1.08% to 4.464.

In the commodities market, Brent crude for January 2024 settlement declined 55 cents or 0.67% to $81.41 a barrel.

Global Markets:

Asian stocks were trading mixed as investors assess key economic data out from Japan on Friday. The world?s third largest economy saw its core inflation rate rise to 2.9% in October, higher than the 2.8% seen in September. The headline inflation rate for October came in at 3.3%, accelerating from the 3% seen in from the month before.

US stocks were closed for Thanksgiving on Thursday, and will come back for a half day of trading on Friday.

The influential oil group reuniting the Organization of the Petroleum Exporting Countries and its allies will hold a virtual meeting to decide crude production strategy on November 30, the OPEC Secretariat said. The group, collectively known as OPEC+, was supposed to convene in person in Vienna over November 25-26 but has since postponed its meeting amid inter-member disgruntlement.

The key equity barometers were trading with decent gains in early trade. The Nifty traded above the 19,850 mark. Realty, media, and auto shares edged higher while pharma and healthcare stocks declined.

The barometer index, the S&P BSE Sensex, was up 161.47 points or 0.24% to 66,184.71. The Nifty 50 index added 46.80 points or 0.24% to 19,858.65.

In the broader market, the S&P BSE Mid-Cap index rose 0.32% while the S&P BSE Small-Cap index gained 0.67%.

The market breadth was strong. On the BSE, 2,059 shares rose and 632 shares fell. A total of 103 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 306.56 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 721.24 crore in the Indian equity market on 22 November, provisional data showed.

Stocks in Spotlight:

TVS Motor Company rose 1.39% after the company announced its entry into Vietnam in collaboration with Minh Long Motors ? its distribution partner. TVS Motor Company will offer a range of scooters and underbone motorcycles, across multiple price points, in keeping with its commitment to responsible and sustainable mobility.

InterGlobe Aviation added 0.30%. The company has received orders from the Commissioner of Income Tax Appeals for the Assessment year 2016-17 and 2017-18. A demand of Rs 739.6 crore (AY 2016-17) and Rs 927 crore (AY 2017-18) was raised by the Assessing officer, against which the company had preferred appeal before Commissioner of Income Tax -Appeals.

C.E. Info Systems rallied 4.29%. A meeting of the board of directors of the company is scheduled on 27 November 2023 to consider and approve the proposal of raising the funds by way of issuance of equity shares through permissible modes including but not limited to a private placement, a qualified institutions placement, preferential issue or any other method or combination of methods.

Honasa Consumer jumped 6.75%. The company announced Q2FY24 results. The company delivered Rs 496 crore revenue from operations with 21% YoY growth. EBITDA was at Rs 40 crore (+53% YoY growth) and PAT was at Rs 29 crore (+94% YoY growth).

Numbers to Watch:

The yield on India's 10-year benchmark federal paper rose 0.17% to 7.259 as compared with previous close 7.247.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.3025, compared with its close of 83.3225 during the previous trading session.

MCX Gold futures for 5 December 2023 settlement added 0.25% to Rs 61,179.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.19% to 103.72.

The United States 10-year bond yield lost 0.31% to 4.402.

In the commodities market, Brent crude for January 2024 settlement slipped $1.20 or 1.46% to $80.76 a barrel.

Global Markets:

Asian stocks were trading mixed after Wall Street went into the Thanksgiving holiday with a broad based rally. Japan?s markets are closed due to a public holiday.

US stocks closed higher on Wednesday after yields briefly fell to their lowest level in two months. Trading was muted ahead of the Thanksgiving holiday on Thursday. U.S. markets will be open for half a day on Friday.

US crude prices fell about 5% Wednesday after the Organization of Petroleum Exporting Countries delayed a pivotal meeting on production cuts that was scheduled for the weekend. OPEC said in a statement that the meeting of energy ministers is delayed until next Thursday.

The domestic equity barometers were trading with minor gains in early trade. The Nifty traded around the 19,800 mark. Media, pharma and oil & gas stocks edged higher while realty, metal and PSU bank shares declined.

The barometer index, the S&P BSE Sensex, was up 36.93 points or 0.06% to 65,967.70. The Nifty 50 index added 11.40 points or 0.06% to 19,794.80.

In the broader market, the S&P BSE Mid-Cap index rose 0.10% while the S&P BSE Small-Cap index shed 0.16%.

The market breadth was strong. On the BSE, 1,723 shares rose and 1,042 shares fell. A total of 105 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 455.59 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 721.52 crore in the Indian equity market on 21 November, provisional data showed.

Buzzing Index:

The Nifty Pharma index gained 0.94% to 16,118.35. The index jumped 4.01% in six trading sessions.

Natco Pharma (up 3.38%), Glaxosmithkline Pharmaceuticals (up 3.19%), Sanofi India (up 2.89%), Pfizer (up 2%), Cipla (up 1.86%), Alkem Laboratories (up 1.33%), Ipca Laboratories (up 1.31%), Gland Pharma (up 1.15%), Glenmark Pharmaceuticals (up 1.15%) and Biocon (up 1.11%) edged higher.

Stocks in Spotlight:

Tata Consultancy Services (TCS) shed 0.45%. The United States Supreme Court on 20 November 2023 rejected the company?s petition to file an appeal against the orders passed by the US Court of Appeals, 7th Circuit, which confirmed the punitive damages award of $140 million passed by the District Court of Wisconsin. The company intends to make the balance provision of approximately $125 million in its financial statements as an exceptional item, for the third quarter and nine months ending 31 December 2023.

Wipro rose 0.21%. The IT major announced a collaboration with NVIDIA to help healthcare companies accelerate adoption of generative artificial intelligence (gen AI) through AI-driven strategies, products, and services.

Maruti Suzuki India added 0.03%. A meeting of the board of directors of the company is scheduled to be held on 24th November 2023, to consider and approve allotment of 1,23,22,514 equity shares of the company to Suzuki Motor Corporation (SMC) on a preferential basis.

Titan Company gained 0.81%. The Competition Commission of India (CCI) has approved acquisition of additional shareholding in CaratLane Trading Private (CaratLane) by Titan Company. The proposed combination relates to the acquisition by Titan of 27.18% share capital of CaratLane held by the Founder of CaratLane Trading Private Limited and his family members.

Numbers to Watch:

The yield on India's 10-year benchmark federal paper shed 0.04% to 7.265 as compared with previous close 7.269.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.3175, compared with its close of 83.2800 during the previous trading session.

MCX Gold futures for 5 December 2023 settlement declined 0.19% to Rs 61,111.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.03% to 103.53.

The United States 10-year bond yield lost 0.09% to 4.414.

In the commodities market, Brent crude for January 2024 settlement fell 10 cents or 0.12% to $82.35 a barrel.

Global Markets:

Most of the Asian stocks were trading lower on Wednesday after minutes from the U.S. Federal Reserve?s recent meeting revealed that policy officials maintained that monetary policy had to be restrictive and had little appetite for rate cuts.

US stocks dipped on Tuesday while minutes from the Federal Reserve?s most recent meeting showed the central bank is in a position to proceed carefully. The Fed?s minutes from its October 31-November 1 meeting showed the policy makers wrestling with conflicting signals and agreeing to continue with caution after voting to leave the Fed funds target rate at 5.25-5.50%.

The frontline indices traded with decent gains in morning trade. The Nifty traded above the 19,750 mark. Metal shares advanced after declining in the past trading session.

The barometer index, the S&P BSE Sensex, was up 233.92 points or 0.36% to 65,889.07. The Nifty 50 index added 78.15 points or 0.40% to 19,772.15.

In the broader market, the S&P BSE Mid-Cap index rose 0.37% while the S&P BSE Small-Cap index gained 0.40%.

The market breadth was strong. On the BSE, 2,180 shares rose and 1,187 shares fell. A total of 167 shares were unchanged.

Buzzing Index:

The Nifty Metal index gained 1.50% to 6,872.85. The index shed 0.48% in the past trading session.

Welspun Corp (up 4.03%), Adani Enterprises (up 2.74%), Hindalco Industries (up 2.29%), National Aluminium Company (up 1.73%), Jindal Stainless (up 1.56%), JSW Steel (up 1.39%), Hindustan Copper (up 1.27%), Jindal Steel & Power (up 1.1%), Tata Steel (up 1.05%) and Steel Authority of India (up 0.83%) edged higher.

Stocks in Spotlight:

KEC International added 0.79%. announced that it has secured new orders of Rs 1,005 crore across its various businesses in India and overseas.

Vascon Engineers rallied 4.27%. The company has received Letter of Intent from Municipal Secretary?s Department - Pimpri-Chinchwad Municipal Corporation, Pune of Rs. 356.78 crore (excluding GST) for Construction of General Hospital Building for PCMC Hospital in Moshi, Pimpri-Chinchwad, Pune (Maharashtra).

Kirloskar Electric Company jumped 6.60%. The management has withdrawn the lockout at the company's unit no. 15 with effect from 20 November 2023 and has requested all workmen through labour union to report to work.

Oberoi Realty advanced 2.22% after the company announced the launch of ?Forestville by Oberoi Realty?, the first luxury residential project in Kolshet, Thane. Spread across 18 acres; Forestville will consist of 5 residential towers. The company has launched the first phase of this development consisting of 3 towers.

Karnataka Bank added 0.77% while HDFC Life Insurance Company rose 0.64%. Karnataka Bank has entered into a strategic corporate tie-up with HDFC Life Insurance Company to offer life insurance products to its customers.

Tata Power Company gained 1.13%. Tata Power Renewable Energy (TPREL), a subsidiary of The Tata Power Company, has crossed the 1.4 GW capacity of group captive projects in last seven months. This achievement is the result of signing of Power Delivery Agreements (PDA) with various industries across segments.

Numbers to Watch:

The yield on India's 10-year benchmark federal paper declined 0.18% to 7.239 as compared with previous close 7.252.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.3650, compared with its close of 83.3800 during the previous trading session.

MCX Gold futures for 5 December 2023 settlement advanced 0.66% to Rs 61,060.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.23% to 103.20.

The United States 10-year bond yield advanced 0.58% to 4.399.

In the commodities market, Brent crude for January 2024 settlement slipped 38 cents or 0.46% to $81.94 a barrel.

Global Markets:

Most of Asian stocks were trading higher on Tuesday, with Hong Kong and Taiwan stocks in the lead and mirroring similar moves on Wall Street after a tech-fueled rally. Investors in Asia will assess South Korean producer prices for October, as well as New Zealand?s October trade figures.

US stocks jumped Monday to start a holiday shortened week, boosted by strong tech gains led by Microsoft and Nvidia. Microsoft Corp. hit a new all-time high after CEO Satya Nadella said former OpenAI chief Sam Altman will be joining the tech giant to lead a new AI research team.

Investors will keep an eye out for the minutes from the Federal Reserve?s October 31 to November 1 policy meeting. US markets will be closed Thursday due to the Thanksgiving holiday. Friday will also be a shortened trading day.

Oil prices rose more than 2% on Monday amid anticipation that the Organization of Petroleum Exporting Countries could implement another production cut this weekend.

The benchmark indices pared losses and traded with small gains in morning trade. The Nifty traded aorund the 19,750 mark after hitting the day's low of 19,701.40. PSU bank shares edged higher after declining in the past trading session.

The barometer index, the S&P BSE Sensex, was up 17.48 points or 0.03% to 65,812.21. The Nifty 50 index added 19.20 points or 0.10% to 19,751.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.37% while the S&P BSE Small-Cap index gained 0.65%. The S&P BSE Mid-Cap index and S&P BSE Small-Cap index hit record high of 33,526.65 and 39,863.26 respectively.

The market breadth was strong. On the BSE, 2080 shares rose and 1,419 shares fell. A total of 186 shares were unchanged.

Buzzing Index:

The Nifty IT index added 0.84% to 32,461.80. The index shed 0.25% in the past trading session.

HCL Technologies (up 1.21%), Mphasis (up 1.06%), L&T Technology Services (up 0.99%), LTIMindtree (up 0.98%), Tech Mahindra (up 0.85%), Wipro (up 0.56%), Tata Consultancy Services (up 0.38%), Infosys (up 0.34%), Coforge (up 0.33%) and Persistent Systems (up 0.17%) edged higher.

Stocks in Spotlight:

ESAF Small Finance Bank rose 1.34% after the bank reported standalone net profit of Rs 140.12 crore in Q2 FY24, steeply higher from Rs 57.58 crore recorded in Q2 FY23. The bank?s total income stood at Rs 1,022.28 crore in Q2 FY24, registering a growth of 35.72% YoY.

Zen Technologies advanced 2.69% after the company said that it has received an export order valued at approximately Rs 42 crore ($5.12 million). This order, comprising of simulators, is from a friendly nation and stands as a testament to the Indian government?s efforts to boost defense exports, aligning with the national objective of becoming a net defense exporter.

Larsen & Toubro (L&T) shed 0.63%. The company said that it has received a total penalty of Rs 238.95 crore from General Tax Authority of Qatar for variation in the income as declared by the company. The company said that the penalty levied is arbitrary and unjustified. Hence it has filed an appeal.

Vedanta rose 0.38%. CRISIL Ratings has downgraded its ratings on the long-term bank facilities and debt instruments of the company to ?CRISIL AA-? from ?CRISIL AA? and placed these ratings on ?Rating Watch with Developing Implications? from ?Rating Watch with Negative Implications? while reaffirming the ratings on the short-term debt instruments of the Company at ?CRISIL A1+? and placing these ratings also on ?Rating Watch with Developing Implications?.

Oberoi Realty rallied 3.26% Oberoi Realty has sealed a deal with Ireo Residences Company and other stakeholders to procure around 14.816 acres (59,956.20 square meters) of land in Sector 58, Gurugram, Haryana. The acquisition, valued at approximately Rs 597 crore, encompasses both financial considerations and area allocation for existing homeowners and other stakeholders.

Global Markets:

Asian stocks are trading higher on Monday while investors watched for changes to China?s benchmark lending rates. The People?s Bank of China?s one-year loan prime rate is currently at 3.45%. The five-year benchmark loan rate stands at 4.2%.

US stocks ended higher on Friday and clinched a third straight winning week amid a red-hot November rally. Those gains were sparked by tame U.S. inflation data that gave hope to investors that the Federal Reserve?s tough stance on rate policy may be in the rearview mirror.

The domestic equity benchmarks were traded near the flat line in the morning trade. The Nifty traded above the 19,750 mark. PSU Bank witnessed selling pressure for the second consecutive trading session.

The barometer index, the S&P BSE Sensex, was down 27.19 points or 0.04% to 65,955.29. The Nifty 50 index rose 15.40 points or 0.08% to 19,780.60.

The broader market outperformed the headline indices. The S&P BSE Mid-Cap index gained 0.28% while the S&P BSE Small-Cap index rose 0.47%. The S&P BSE Mid-Cap index and S&P BSE Small-Cap index hit record high of 33,423.26 and 39,659.28 in intraday today.

The market breadth was strong. On the BSE, 2,101 shares rose and 1,288 shares fell. A total of 179 shares were unchanged.

Buzzing Index:

The Nifty PSU Bank index declined 2.66% to 5,050.95. The index fell 2.89% in the past two sessions.

Union Bank of India (down 3.54%), Punjab National Bank (down 3.33%), State Bank of India (down 2.69%), Bank of India (down 2.67%) and Bank of Maharashtra (down 2.5%) were the top losers.

Among the other losers were Central Bank of India (down 2.35%), UCO Bank (down 2.29%), Canara Bank (down 2.13%), Punjab & Sind Bank (down 1.91%) and Indian Overseas Bank (down 1.82%).

Numbers to Watch:

The yield on India's 10-year benchmark federal paper fell 0.07% to 7.227 as compared with previous close 7.232.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.2650, compared with its close of 83.2300 during the previous trading session.

MCX Gold futures for 5 December 2023 settlement added 0.13% to Rs 60,800.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.01% to 104.34.

The United States 10-year bond yield advanced 0.04% to 4.445.

In the commodities market, Brent crude for January 2024 settlement gained 30 cents or 0.39% to $77.72 a barrel.

Stocks in Spotlight:

SJVN gained 1.92% after the company announced that it has signed a power purchase agreement (PPA) with Solar Energy Corporation of India (SECI) for a 200 MW grid-connected wind power project at a tentative cost of Rs 1,400 crore.

Brigade Enterprises rallied 4.78%. The Brigade Group has signed a Joint Development Agreement (JDA) with Krishna Priya Estates and Micro Labs to develop around 2 million square feet of residential housing in Bengaluru with a Gross Development Value (GDV) of Rs 2,100 crore.

JSW Steel rose 0.16%. The company upon considering demand and supply scenario of Iron Ore in India, has withdrawn its application for the Final Mine Closure Plan submitted on 1st September 2023 before the Indian Bureau of Mines for the purpose of surrender of Jajang Iron Ore Block located in the district of Keonjhar, Odisha.

TVS Motor Company advanced 1.17% after the company announced its entry into Europe by signing an agreement for import and distribution with Emil Frey, a 100 year old enterprise and a leading name in automotive distribution.

JSW Infrastructure rallied 6.76% after the company has received Letter of Award from Karnataka Maritime Board, Government of Karnataka for development of All- weather, deep water, greenfield port at Keni in Karnataka on Public Private Partnership basis.

Delhivery declined 2.63% after Softbank is reportedly planning to sell around 4% stake in Delhivery via the block deal route. The deal size is around $150 million.

Global Markets:

Asian stocks were trading mixed on Friday as a batch of softer U.S. economic data took some of the steam out of Wall Street, but also boosted bonds in a big way while slugging oil prices in a boon for the inflation outlook. Both Brent and U.S. crude slid almost 5% on Thursday to four-month lows in a move that was blamed on economic and supply concerns.

In US, the S&P 500 and the Nasdaq managed to eke out tiny gains on Thursday while the Dow Industrial Average ended slightly lower with pressure from tech and retail bellwethers Cisco and Walmart after disappointing forecasts. Shares of Cisco Systems tumbled as the communications and networking technology company cut its full-year revenue and profit forecasts on slowing demand for its networking equipment.

U.S. President Joe Biden and Chinese President Xi Jinping have agreed to resume high-level military communication, according to both countries. The two leaders met in person for the first time in a year Wednesday in San Francisco on the sidelines of the Asia-Pacific Economic Cooperation conference. ?We?re back to direct, open, clear communications,? Biden said at a press conference after the talks.

The key equity barometers extended gains and hit fresh intraday high in mid-morning trade. The Nifty traded above the 19,750 mark. Oil & gas shares extended gains for second day in a row.

The barometer index, the S&P BSE Sensex, was up 405.37 points or 0.62% to 66,081.30. The Nifty 50 index added 110.70 points or 0.56% to 19,786.15.

In the broader market, the S&P BSE Mid-Cap indexhttps://t.me/bigbullscall gained 0.34% while the S&P BSE Small-Cap index rose 0.57%.

The market breadth was strong. On the BSE, 2159 shares rose and 1380 shares fell. A total of 168 shares were unchanged.

Buzzing Index:

The Nifty Oil & Gas index rose 0.77% to 8,178.20. The index has added 2.24% in two sessions.

Oil India (up 2.71%), Hindustan Petroleum Corporation (up 2.42%), Bharat Petroleum Corporation (up 1.49%), Indian Oil Corporation (up 1.43%) and Aegis Logistics (up 1.38%) were the top gainers.

Among the other gainers were Oil & Natural Gas Corp (up 0.98%), Mahanagar Gas (up 0.59%), Reliance Industries (up 0.52%), Indraprastha Gas (up 0.26%) and Gujarat Gas (up 0.23%).

On the other hand, Adani Total Gas (down 0.4%), Petronet LNG (down 0.15%) and Gujarat State Petronet (down 0.07%) turned lower.

Stocks in Spotlight:

RateGain Travel Technologies fell 1.34%. The company has announced that its board approved the opening of qualified institutional placement (QIP) of equity shares with the floor price of Rs 676.66 per share. The floor price of Rs 676.66 is at a discount of 4.93% to the previous day's closing price of Rs 711.75 on the BSE.

Dabur India rose 1.18%. The company's two foreign subsidiaries, Dabur International and Dermoviva Skin Essentials, have been removed as defendants in multiple lawsuits filed in a U.S. court over allegations that their hair-relaxer products caused ovarian cancer, uterine cancer and other related health issues.

IIFL Finance added 0.48%. The NBFC will invest up to Rs 200 crore in arm IIFL Samasta Finance by way of subscription to 7,47,94,315 fully paid-up equity shares of face value of Rs 10 each, at a premium of Rs. 16.74 per share, through rights issue.

Global Markets:

Asian stocks are trading lower Thursday as investors digested high-level discussions between U.S. President Joe Biden and Chinese President Xi Jinping.

Biden and Xi met Wednesday outside of San Francisco in their first face-to-face meeting in a year. The talks were on the sidelines of the Asia-Pacific Economic Cooperation conference and were a part of efforts between the U.S. and China to boost high-level communication amid continued tensions.

US stocks ended higher on Wednesday, building on the strong rally from Tuesday, on the back of more encouraging inflation data. Another reading on U.S. inflation showed October?s producer price index, which measures wholesale prices, fell by 0.5% to mark its biggest monthly drop since April 2020.