The BSE Sensex and Nifty 50, while coming off their intraday highs, continued to trade positively on Monday. As of 2:00 PM, the Sensex was up by 730.85 or 0.92%, Trading at 79,847.96 and the Nifty 50 advanced by 262.85 or 1.10%, standing at 24,170.10
Top gainers on the Nifty 50 include ONGC, Shriram Finance, Bharat Electronics, Adani Enterprises, and L&T. On the flip side, the biggest losers were JSW Steel, Infosys, HCL Technologies, Tech Mahindra. The market rally was boosted by strong performances in the midcap and smallcap segments,. Among sectors, PSU Bank, oil & gas, real estate, capital goods led the charge. Investor sentiment remains optimistic as broader market indices reflect strong buying interest, supported by gains in key sectors.
On Monday, the Indian stock market opened higher as Nifty opened at 24,253.55 level whereas Sensex climbed 1228 points to open at the 80,345 mark. On the Nifty index, BEL, SHRIRAMFIN, BPCL, ONGC and LT were the top gainers whereas JSWSTEEL, Infosys and DRREDDY were the top losers following the results of the Maharashtra state assembly elections which improved the market mood. However, persisting headwinds including geopolitical concerns, a rising dollar index, and rising U.S. bond yields continue to cause caution. After Wall Street wrapped up higher on Friday and FIIs went into selling mode, Asian markets climbed in early trading on Monday.
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Nov 25, 2024, 2:50 pm IST
Stocks Live Updates: No New Investment Adani Group, Says Total Energies
Amidst US indictment, Total Energies has reportedly announced that they will make no new investments in Adani Group until allegations against Gautam Adani conglomerate and its executives are clarified. Total Energies said that they were not made aware of the investigation into the alleged corruption scheme.
Nov 25, 2024, 1:50 pm IST
Paytm Launches UPI LITE Auto Top-up for Recurring Daily Payments Under ₹500 with No PIN
One 97 Communications Limited (OCL), which owns the brand Paytm, India’s leading payments and financial services distribution company and pioneer of QR, Soundbox and mobile payments, has introduced automatic top-up for Paytm UPI Lite. This feature allows users to automatically recharge their UPI Lite balance when it falls below a set limit, ensuring seamless small-value transactions without the need for a PIN. Payments of up to ₹500 can be made per transaction, with a daily limit of ₹2000, making it ideal for recurring daily payments. Paytm UPI Lite streamlines daily transactions—such as purchasing groceries, paying for transportation, managing subscriptions, or settling small bills—by eliminating the need for a PIN. It helps maintain clutter-free bank statements, as routine payments are processed through an on-device wallet without directly accessing the main bank account. Additionally, the company has introduced a UPI statement download feature, enabling users to view and download detailed records of all UPI transactions, including those made via Paytm UPI Lite. This enhancement supports effective expense monitoring and spending management. The Paytm UPI Lite auto top-up feature is live on Yes Bank and Axis Bank handles for select users, and will soon be expanded to all users and remaining partnered banks.
Nov 25, 2024, 1:26 pm IST
Wardwizard Innovations & Mobility Limited Partners with Ampvolts Limited
Wardwizard Innovations & Mobility Limited, one of India’s leading electric vehicle manufacturers operating under the brands Joy e-bike and Joy e-rik, has signed a Memorandum of Understanding (MoU) with Ampvolts Limited; formerly Quest Softech (India) Limited, a prominent EV charging stations and infrastructure provider. This strategic collaboration aims to advance green mobility solutions by leveraging the synergies of both organizations to develop robust EV charging infrastructure in India and globally. As part of the agreement, Wardwizard Innovations & Mobility Limited will play a pivotal role in identifying strategic locations for setting up EV charging stations and serving as the frontend partner for key projects. The company will also ensure the provision of necessary resources, including financial support, to bolster the development of a comprehensive EV ecosystem.
Nov 25, 2024, 1:26 pm IST
STL elevates Rahul Puri as the CEO of Optical Networking Business
STL, a leading optical and digital solutions company, today announced Rahul Puri's promotion to Chief Executive Officer (CEO), of the Optical Networking Business (ONB), effective immediately. Rahul has been serving as the Vice President and General Manager - EMEIA & APAC. Rahul Puri is an accomplished business leader with over 24 years of global cross functional expertise in business development, sales, marketing, operations and product management. Throughout his career, Rahul has worked with some of the world’s leading technology and telecom companies, including Apple, Samsung, Sony Ericsson, Reliance, and Airtel, across diverse geographies. His unwavering belief in innovation and a relentless customer-first approach enabled him to scale businesses successfully, secure long-term agreements with top telecommunications providers, and advise on high-impact strategic investments.
Nov 25, 2024, 12:42 pm IST
UPL and CH4 Global Sign Strategic Partnership Agreement
UPL, a global provider of sustainable agricultural solutions, and CH4 Global today announced they have signed a strategic partnership agreement that aims to bring the latter’s methane-reducing feed supplement to millions of cattle per day. Under the multi-phase, multi-year agreement, UPL and CH4 Global will develop a comprehensive roadmap targeting key livestock markets in India, Brazil, Argentina, Uruguay and Paraguay, which together represent more than 40% of the world’s cattle population. The collaboration will establish specific business models to distribute CH4 Global’s Methane Tamer™ cattle feed additive in each of these markets. The program aims to enable the livestock sector to significantly lower its emission footprint through the use of eco-friendly animal feed solutions.
Nov 25, 2024, 12:14 pm IST
Spectrum Foods Limited Appoints Deloitte Touche Tohmatsu India LLP for Preferential Issue Management
Spectrum Foods Limited (SFL) announced the appointment of Deloitte Touche Tohmatsu India LLP (Deloitte) as its professional advisor to manage an upcoming preferential issue of the company. This engagement reflects Spectrum Foods' focus on ensuring compliance and quality corporate governance. Deloitte’s expertise will assist the company in aligning with regulatory requirements and industry standards as it undertakes this key financial initiative. Spectrum Foods Limited continues to expand its operations with a focus on innovation and growth. From our salt refinery in Phalodi to the upcoming 185-room 5-star resort in Pushkar. Further details regarding the preferential issue will be provided on developments progress and in accordance with stipulated requirements.
Nov 25, 2024, 12:13 pm IST
Gujarat Toolroom Ltd. Secures Rs.310 Million Order from Reliance Industries Ltd.
Gujarat Toolroom Limited has successfully executed an order valued at ₹310 million for Reliance Industries Ltd. Gujarat Toolroom Limited has now successfully completed orders amounting to ₹600 million for Reliance Industries in the current financial year.
Nov 25, 2024, 11:14 am IST
NTPC Green Energy IPO Allotment Today
NTPC Green Energy IPO: The allotment of Rs 10,000 crore worth of initial public offering (IPO) of NTPC Green Energy is open on Monday, November 25, 2024, for investors. The process to check the status of your application is easy and can be done online via BSE, NSE and Kfin Technologies. The latest grey market premium (GMP) of NTPC Green Energy hints at a premium listing, however, at a single-digit.
Nov 25, 2024, 10:46 am IST
Gold Prices Records Sharp Decline
Unlike stocks, gold prices in India made a sharp decline on Monday, so much so that 24K gold prices was at Rs 78,550. International prices like spot gold has eased below ,700 and MCX gold is also struggling at Rs 76,600 per 10 grams level. MCX and spot gold prices are down nearly 2% in a single-day.
Nov 25, 2024, 10:32 am IST
Bharat Electronics Share Rally
Defence PSU giant Bharat Electronics (BEL) skyrocketed by more than 5% to trade at Rs 295.20. The stock was inching closer to hit Rs 300 mark.
Nov 25, 2024, 9:34 am IST
Opening Bell
The benchmark indices began Monday strongly following the BJP-led alliance's triumph in Maharashtra and also supported by encouraging global cues. With the support of the outstanding NDA performance in Maharashtra, the Sensex started over 1200 points, while the Nifty was seen rising above 24,200.
Nov 25, 2024, 9:15 am IST
Nifty Bank Prediction Today
“The index exhibited strength by forming a bullish candle with an almost identical open and low, highlighting strong intraday support at lower levels and building on the bullish hammer pattern from the previous session. Nifty Bank now holds above its 10-day moving average and is nearing a breakout above the 20-day moving average. A sustained move beyond this level could provide significant room for further upside. Additionally, Nifty Bank is approaching the average line of the daily RSI, which may enhance bullish momentum and strengthen the ongoing trend. The resistance remains at 51,800, while support has shifted upward to 50,700,” Om Mehra added.
Nov 25, 2024, 9:15 am IST
Nifty Prediction Today
“In the daily timeframe, the Nifty formed a bullish engulfing pattern. Nifty has reclaimed the 10 DMA and 200 DMA, though still trailing the 20 DMA. On the hourly chart, the formation of an inverse head-and-shoulders pattern hints at a potential upside, projected to the 24,150–24,200 range. The support has now shifted higher to 23,600 levels. The short-term strategy has altered from ‘sell on the rise’ to ‘buy the dip’, signalling a bullish undertone,” Om Mehra, Technical Analyst, SAMCO Securities.
Nov 25, 2024, 9:12 am IST
Nifty Bank Outlook Today
“The Nifty Bank index has turned bullish after recovering sharply from its demand zone of 49,900–50,500, forming a temporary bottom. The index is trading within a crucial range between its 20-DEMA and 200-DMA, making these levels vital for the next directional move. Immediate resistance lies at the 20-DEMA zone of 51,200–51,300. A breakout above 51,300 could trigger short-covering and push the index toward the next resistance at 51,800–52,000, potentially shift sentiment further in favour of buyers. On the downside, as long as the index holds above 50,400, buying opportunities are expected, with put writers showing strong positions at lower levels. A "Buy on Dips" strategy remains prudent under current conditions, aligning with the short-term rebound and sustained buying momentum. Pullbacks are likely to invite renewed interest, providing support for further upside,” said Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities.
Nov 25, 2024, 9:11 am IST
Rupee Vs Dollar
Monday saw the Indian rupee commence at 84.37 per dollar, up 8 paise from Friday's wrap-up of 84.45.
Nov 25, 2024, 9:08 am IST
Bank Nifty Options Market Insights By Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities
Options data supports the recovery, reflecting a positive sentiment among traders. Notable put-writing activity dominated the session, signalling a bullish stance. The 52,000-strike call amassed the highest open interest (24.35 lakh contracts), while the 51,000-strike put witnessed significant open interest (22.97 lakh contracts). Key positions were concentrated in the 51,300–52,000 call range and the 50,500–51,000 put range, reinforcing immediate resistance at 52,000 and support at 51,000. Increased put writing between 50,500 and 51,000 underscores strong buying pressure, while subdued call writing hints at a building bullish sentiment. The put-call ratio (PCR) improved to 1.16 from 0.95, reflecting a positive outlook as buyers maintained the upper hand. The "max pain" level at 51,000 suggests it could act as a critical pivot in the short term.
The options market reflects growing optimism as the index staged a strong recovery. Notable put-writing activity was recorded for the first time in two months, indicating a bullish stance among traders. The 24,500-strike call saw the highest open interest at 64.67 lakh contracts, while the 23,500-strike put registered significant interest with 80.25 lakh contracts. Key positions were concentrated in the 23,800–24,000 call range and the 23,700–23,500 put range, highlighting immediate resistance at 24,000 and support near 23,500. Rising put writing between 23,500 and 23,700 underscores strong buying interest, while subdued call writing reflects improving sentiment. The put-call ratio (PCR) rose to 1.15 from 0.85, hinting at growing bullish sentiment. The "max pain" level at 23,700 suggests limited downside potential in the near term.
Nov 25, 2024, 8:06 am IST
Nifty Prediction Today By Dhupesh Dhameja, Derivatives Analyst, SAMCO Securities
The Nifty index has turned decisively bullish, recovering sharply from its demand zone of 23,200–23,250 and reclaiming the 200-DMA. The formation of a bullish candle and the invalidation of previous breakdown structures highlight buyer dominance. Momentum indicators, including the daily RSI, have moved above the 40-level, reinforcing positive sentiment and suggesting further upside potential. Immediate support lies at 23,500. A breakdown below this level may lead to further downside toward 23,000–23,050. Sustained movement above the psychological resistance of 24,000 is critical for confirming bullish continuation. A breakout above this level may trigger short-covering, driving the index toward the next hurdle at 24,500. As long as the index holds above 23,500, a "Buy on Dips" approach remains favourable. A breakout above 24,000 would confirm bullish momentum, paving the way for further gains. However, any pullback is likely to attract buying interest near the strong support zone of 23,400–23,500.
Nov 25, 2024, 8:04 am IST
Market Outlook Today By Santosh Meena, Head of Research, Swastika Investmart Ltd
The market, which remained oversold throughout the November series, is now experiencing a short-covering rally ahead of the expiry week. However, caution persists due to lingering headwinds such as geopolitical tensions, a rising dollar index, and increasing U.S. bond yields. Despite these challenges, the market appears to have established a temporary bottom.
Nov 25, 2024, 8:02 am IST
Technical Outlook on Bank Nifty by Santosh Meena, Head of Research, Swastika Investmart Ltd
Bank Nifty respected its 200-DMA, indicating strong support. The immediate resistance zone lies at 51,200–51,800, with a more critical hurdle at 52,600.
While the market seems to have turned a corner, traders and investors should remain vigilant given the external risks. A close watch on global cues and domestic developments will be essential for navigating the upcoming sessions.
Nov 25, 2024, 8:02 am IST
Technical Outlook on Nifty by Santosh Meena, Head of Research, Swastika Investmart Ltd
Nifty found support around 23,200, coinciding with the 61.8% Fibonacci retracement level of the previous rally (from the election result day low to the high of 26,277). It has reclaimed its 200-DMA, an encouraging technical development. To sustain this momentum, Nifty must cross its 20-DMA around 24,070, with the next key resistance level at 24,500.
Nov 25, 2024, 8:00 am IST
Market Outlook By Mr. Vinnaayak Mehta, Founder of The Infinity Group
The Indian stock market was able to recover substantially this week on primarily technical grounds, since some of its major stocks-including Reliance, Infosys, and ICICI Bank-rose in a healthy manner. The rebound occurred after a sharp selloff that started earlier this week with primary triggers from the fallout of the Adani issue. The recovery has been encouraging while no fresh positive triggers are seen to sustain it, and now the market is keenly watching the outcome of the Maharashtra election results as a catalyst for further movement.
Looking ahead to next week, despite a short pullback rally still being possible over the short term, the market is likely to struggle further with deepening global and also some domestic uncertainty. With the Adani issue still largely in the system and reduced activity by foreign portfolios going into the holiday season, a sustained recovery may be challenging. Investors will need to focus on stock-specific opportunities, as larger market trends are likely to remain volatile during the next few weeks.
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