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Sensex closes in red, Nifty ends below 17k; PSU bank, metal, auto dip

Stock market Today: Sensex, Nifty close in red. Photo: Hemant Mishra/MintPremium
Stock market Today: Sensex, Nifty close in red. Photo: Hemant Mishra/Mint

  • Sensex and Nifty closed in the red on Tuesday. The intraday rally in auto, metal and other indices withered as benchmarks came under pressure. FMCG, IT and pharma stocks traded in green

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Sensex and Nifty opened in the green today with most of the sectors trading flat to positive. After a minor slump in the afternoon – when the Sensex gave up 900 points from the day's high after Moderna CEO said vaccine effectiveness will decrease against Omicron – the indices picked up the pace again. However, the markets saw selling pressure towards fag-end of the session.

30 Nov 2021, 03:49:27 PM IST

Markets close

Benchmark indices closed in the red on Tuesday, after opening in the green. Sensex shed gains and closed 195 points down, while Nifty closed at 16,982, after opening close to the 17,500 mark. Auto and bank sectors helped the indices return into green briefly but selling pressure tripped the indices back into the red. The broader indices also moved into the negative pressuring the indices. FMCG, IT and Pharma were the only sectors showing significant gains and remained consistently in the green. On the Sensex, 13 stocks advanced, while 17 stocks declined. Powergrid, Titan Bajaj Finserv, Nestle were the top gainers, while Tata Steel and Kotak Mahindra Bank were top drags. On the Nifty, too, Powergrid and Shree Cement were top gainers with Bajaj Finserv, while Tata Steel, Kotak Mahindra Bank along with JSW Steel dragged. Nifty saw 22 advances and 28 declines. The BSE mid-cap and small-cap indices ended with marginal losses.

 

Sensex stocks at close.
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Sensex stocks at close.
30 Nov 2021, 03:30:06 PM IST

Zomato launches investor connect platform to help restaurants raise funds

Days after announcing an investment corpus for startups, foodtech major, Zomato Ltd. has now launched its new investor-connect platform, Zomato Wings to help food establishments raise external investments.

Zomato will act as a facilitator of fundraising for restaurants and will help restaurant partners position their story and metrics in the right manner while connecting them with investors, it said in a company blog on Tuesday.

30 Nov 2021, 03:26:12 PM IST

Sensex in red

Source: BSE
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Source: BSE
30 Nov 2021, 03:21:32 PM IST

Market view: Naveen Kulkarni, Chief Investment Officer, Axis Securities

“India VIX in the domestic market was around 17-18 levels during most of November, indicating limited market downside. However, volatility spiked by 25% on Friday, 26th Nov, led by rising concerns on the new Covid-19 variant, making investors cautious. Further, an increase in the new variant cases will be a short-term negative for the equity market. Currently, VIX trading around 21 levels signifies an increase in cautiousness, as compared to the previous week. Volatility is likely to continue for some more time, as the direction of the new variant, Oil prices, and Dollar index will further drive the market fundamentals. FIIs are the net sellers in the equity market, especially from the last two weeks, and DIIs are consistently providing support. With every FIIs selling, here onwards, DIIs support will be critical for the market. Investors should stick to the fundamentals where the earnings visibility is high, and we believe sector rotation with a focus on quality and momentum will deliver superior returns moving forward"

30 Nov 2021, 03:17:10 PM IST

Nasscom launches centre of excellence for IoT and AI at Visakhapatnam

IT industry’s apex body Nasscom, in partnership with the Ministry of Electronics and Information Technology (MeitY) and government of Andhra Pradesh, on Tuesday launched a centre of excellence (CoE) focussed on the internet of things and artificial intelligence at Andhra University Campus, Visakhapatnam, aimed at promoting innovation in emerging technologies.

“The new centre advances Prime Minister Narendra Modi's Digital India vision by providing open labs and infrastructure to create and validate solutions from design to prototype to democratize innovation. It also promotes entrepreneurship by providing an incubation facility for peer-to-peer learning and the benefit of an industrial environment," Nasscom said in a statement.

30 Nov 2021, 03:11:16 PM IST

Nifty Metal down over 1%

Source: NSE
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Source: NSE
30 Nov 2021, 03:02:24 PM IST

Tariff hikes, moratorium to help telcos invest more aggressively in 5G: Crisil

The announced tariff hikes by the telcos could boost their operating profits by at least 40 per cent and coupled with the moratorium on government dues, will help them invest more aggressively into 5G technology, says a report.

Tariff hikes to lift the EBITDA, or earnings before interest, taxes, depreciation, and amortization, of telcos by 40 per cent and along with the moratorium on government dues, this will support 5G investments and credit profiles, Crisil said in a note on Tuesday.

 

30 Nov 2021, 02:52:35 PM IST

Inflation eats into rural household budgets dragging FMCG volumes

Demand for packaged consumer goods in India’s villages dwindled in the September quarter as consumers bought less of, or purchased cheaper cooking oils, packaged grocery, and hot beverages, pulling down overall FMCG volumes, according to NielsenIQ’s FMCG snapshot for the third quarter of the current calendar year.

30 Nov 2021, 02:43:23 PM IST

Centre to introduce new crypto bill in Parliament after Cabinet nod: FM Sitharaman

Union Finance Minister Nirmala Sitharaman on Tuesday said the Centre will introduce a bill on cryptocurrencies in the Parliament after Cabinet's approval. The current bill is a new bill on crypto, which will be presented in the Parliament after the Cabinet nod, Sitharaman said.

30 Nov 2021, 02:26:18 PM IST

Dolly Khanna portfolio stock rises 60% in one month. Experts see more gain

Dolly Khanna portfolio share Ajanta Soya is one of the multibagger stocks in 2021. The stock has given stellar return to its investors throughout the year that attracted Dolly Khanna to buy 1.40 lakh company shares through bulk deal on 22nd November 2021. Ajanta Soya shares have risen from around 124 to 200 levels in one month, logging near 60 per cent rise in this period. However, stock market analysts see further rise in the counter.

30 Nov 2021, 02:13:51 PM IST

23 of 30 Sensex stocks trading in green

Market watch
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Market watch
30 Nov 2021, 01:57:11 PM IST

Oil slumps on jitters over vaccine efficacy

Oil prices tumbled more than 3% on Tuesday after Moderna's CEO cast doubt on the efficacy of COVID-19 vaccines against the Omicron coronavirus variant, spooking financial markets.

The head of drugmaker Moderna told the Financial Times that COVID-19 vaccines are unlikely to be as effective against the Omicron variant of the coronavirus as they have been against the Delta variant.

Brent crude futures fell $2.32, or 3.2%, to $71.12 a barrel at 0729 GMT after slipping to an intraday low of $70.52, the lowest since Sept. 1. U.S. West Texas Intermediate (WTI) crude futures fell $2.15, or 3.1%, to $67.80 a barrel, off a session low of $67.06, the weakest since Aug. 26.

30 Nov 2021, 01:42:53 PM IST

Asian markets hit by Moderna vaccine warning over Omicron

Asian equity and oil traders were sent running Tuesday after the head of Moderna warned current coronavirus vaccines might be less effective at fending off the Omicron variant, fuelling fears that countries could be forced back into economically painful lockdowns.

Stocks had mostly been edging up after a two-day sell-off that followed news Friday of the new variant, which some observers said was overdone as billions of people have been inoculated.

But Stephane Bancel's comments in an interview with the Financial Times sent shivers through markets again, as he said the high amount of mutations on Omicron and its swift spread in South Africa indicated the present jabs would need to be tweaked.

30 Nov 2021, 01:32:18 PM IST

Lupin launches mobile compatible educational website for medical students

Global pharma major Lupin Limited on Tuesday said it has launched an educational mobile adaptable website Sciflix for medical students pursuing post-graduation in diseases involving the respiratory system.

Sciflix is a comprehensive learning platform in pulmonology where all scientific needs of postgraduate students will be addressed by a multisource library under one roof, the company said in a regulatory filing.

 

30 Nov 2021, 01:21:16 PM IST

CV sales growth momentum may continue in November

All eyes are on November automobile sales numbers, scheduled for release in a couple of days with analysts anticipating a slower-than-expected growth

“Our dealer checks indicate that overall retail demand-pull in November been slower than our expectations at the start of the month," analysts at Nomura Research said in their note.

30 Nov 2021, 01:08:20 PM IST

Anand Rathi Wealth IPO price band announced

Anand Rathi Wealth, the wealth management arm of Anand Rathi Financial Services, will launch its initial public offering (IPO) this week that will open for subscription on Thursday, December 2 and the three-day initial share sale will conclude on December 6, 2021. The price band of the issue has been announced which has been fixed at 530-550 per share.

Key details to know as issue opens this week.

30 Nov 2021, 12:55:27 PM IST

Tega Industries IPO: GMP jumps ahead of subscription opening date

Tega Industries IPO (Initial Public Offering) is opening for subscription on 1st December 2021 and it will remain open till 3rd December 2021. However, ahead of subscription opening date, grey market has started giving positive signals in regard to the public issue worth 619.23 crore. As per the market observers, Tega Industries share price has been rising in grey market for the last two days, which reflects strong response from bidders.

30 Nov 2021, 12:46:43 PM IST

SBI credit cardholders have to pay more for EMI purchases from tomorrow

The State Bank of India (SBI) has announced that it will charge a processing fee as well as tax from its credit card customers on all equated monthly instalment (EMI) purchase transactions. These charges are over and above the interest charges for converting the purchase into EMIs. The notification was sent to the SBI credit card holders on November 12 via e-mail. “Dear Cardholder, We would like to inform you that with effect from 01 Dec 2021, Processing Fee of Rs. 99 + applicable taxes will be levied on all Merchant EMI transactions done at Merchant outlet/website/app. We thank you for your continued patronage. Please click here to know more about Merchant EMI Processing Fee," the mail from SBICPSL read on the day.

 

30 Nov 2021, 12:35:22 PM IST

Smallcap stocks record-breaking 200% rally is starting to crack

Investors still betting on India’s small-cap stocks to rally may need to be more selective as the market slumps. The S&P BSE Small Cap Index has retreated 9% from a record high after hitting the top end of a logarithmic, parallel channel originating from the 2013 lows, suggesting that the drop may not be over given the extent of the rally.

30 Nov 2021, 12:25:21 PM IST

Despite market volatility, IPOs worth ₹7,000 cr set to hit D-Street next month

A clutch of Indian companies are pushing to raise more than $1 billion combined from initial public offerings in December, in what will be one of the first major tests of the market since Paytm’s tumultuous listing.

30 Nov 2021, 12:15:47 PM IST

Paytm brings card-on-file tokenization to Myntra, Oyo, others

Paytm on Monday said its wholly-owned subsidiary Paytm Payments Services Ltd (PPSL) has partnered with platforms such as Myntra, Oyo, Domino’s and others, and joined hands with payment giants like Visa, Mastercard and RuPay to deploy card-on-file tokenization service for its consumers and merchants.

30 Nov 2021, 12:00:52 PM IST

Nifty turns green

Source: NSE
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Source: NSE
30 Nov 2021, 11:53:05 AM IST

Moderna CEO says world may need new vaccines to fight Omicron

The plethora of mutations in the omicron variant are likely to help it evade protection provided by existing vaccines, making it necessary to develop new immunizations, Moderna Inc. Chief Executive Officer Stephane Bancel told the Financial Times.

It may take months for pharmaceutical companies to develop and deploy updated immunizations that they can deliver in large numbers, Bancel said in an interview with the newspaper. There is no way the current shots will provide the same level of protection against omicron as they do against delta, he said.

30 Nov 2021, 11:45:54 AM IST

Sensex turns negative

Source: BSE
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Source: BSE
30 Nov 2021, 11:38:56 AM IST

Emkay recommends these IT stocks to buy, upgrades TCS, Mphasis' ratings

IT companies reported strong revenue acceleration in Q2FY22, driven by cloud adoption, digital transformation, cyber security and analytics. Brokerage and research firm Emkay believes that robust broad-based demand and a healthy deal intake/pipeline provide good near-term revenue visibility.

Tier-II companies outperformed Tier-I peers in sequential revenue growth as well as margin expansion. The IT companies' margin expansion was aided by revenue growth-led operating leverage, offshore shift, and productivity improvement which offset salary inflation and supply-side challenges.

30 Nov 2021, 11:27:10 AM IST

Nifty PSU Bank up 1%

Source: NSE
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Source: NSE
30 Nov 2021, 11:15:55 AM IST

Should you buy, sell or hold Go Fashion shares?

Find out here.

30 Nov 2021, 11:04:26 AM IST

Irctc shares rebound today

In stock market crash last week, Indian Railway Catering and Tourism Corporation or IRCTC share price was one of the leading losers among the mid-cap stocks. However, post stock market peak made on 18th October 2021, IRCTC shares lost more than 30 per cent making an ideal buy on dips position for long-term investors. Positional investor got further boost as in early morning deals, IRCTC share price bounced back strongly logging 5 per cent intraday gain.

Should you accumulate?

30 Nov 2021, 10:51:26 AM IST

Rupee recovers 21 paise to 74.86 against US dollar in early trade

The rupee recovered 21 paise to 74.86 against the US dollar in opening trade on Tuesday, as positive domestic equities and a weak American currency in the overseas markets boosted investor sentiments.

At the interbank foreign exchange, the rupee opened on a strong note at 74.91, then surged higher to 74.86 against the American dollar, registering a rise of 21 paise in the early deals.

The rupee on Monday dived 18 paise to close at a five-week low of 75.07 against the US dollar on worries over the new coronavirus variant.

30 Nov 2021, 10:41:44 AM IST

India VIX down 9% to 18.92

30 Nov 2021, 10:32:42 AM IST

Sensex stocks nearly all green

BSE stocks
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BSE stocks
30 Nov 2021, 10:23:53 AM IST

Currencies stabilise as worst Omicron fears ease, yen dips

The safe-haven yen on Tuesday gave up some of the gains it made during last week's market ructions as investors traded on hopes the Omicron coronavirus variant would not derail a global economic recovery as initially feared.

The dollar rose as high as 113.89 yen during the Asia morning having plunged on Friday as news about the potentially fast spreading Omicron variant of the new coronavirus emerged.

It was last at 113.65, up from Monday's two week low of 112.97.

Traders have taken comfort from very early hints that Omicron will be milder than feared as well as from remarks by President Joe Biden that the United States would not reinstate lockdowns.

30 Nov 2021, 10:13:32 AM IST

Markets opening view: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

Upon opening, the market has bounced today. Whether it is short covering or a dead cat bounce is still to be ascertained. The markets are still in negative territory and unless we do not close above 17500 on the Nifty, the short-term trend does not change.

 

30 Nov 2021, 10:03:37 AM IST

Go Fashion shares make a bumper debut, nearly double from issue price

Shares of Go Fashion (India) Limited, which owns women's wear brand Go Colors, made their stock market debut with a strong premium of 90% at 1,310 per share on the NSE as compared to its IPO issue price of 690 apiece. On the BSE, Go Fashion shares were trading at 1,316

The three-day initial public offering (IPO) of Go Fashion (India) Limited, which owns women's wear brand Go Colors, received a whopping 135.46 times subscription on its last day of subscription that concluded on November 22. The 1,013.6-crore IPO received bids for 1,09,44,34,026 shares against 80,79,491 shares on offer.

30 Nov 2021, 09:53:53 AM IST

Coal India approves payment of interim dividend for FY22, stock surges

Shares of Coal India surged in Tuesday's opening deals after the miner in a regulatory filing on Monday said that the board in its meeting held approved payment of interim dividend for FY22 at 9 per share of the face value of 10 as against 7.5 per share announced last year.

The PSU company has fixed Friday, December 7, 2021 as the record date for the purpose of payment of interim dividend on the equity shares for the financial year 2021-22. Whereas, the date of payment of interim dividend is on and from December 21, 2021, it added.

 

30 Nov 2021, 09:53:54 AM IST

Nifty broad market indices

Source: NSE
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Source: NSE
30 Nov 2021, 09:44:10 AM IST

Top gainers/losers in opening deals

Nifty
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Nifty
30 Nov 2021, 09:36:30 AM IST

Rakesh Jhunjhunwala portfolio: Experts give 'buy' tag to this ₹200 bank stock

Rakesh Jhunjhunwala portfolio: Amid Omicron virus concern, stock market experts have been recommending positional investors to pick quality stocks available at discounted price. In this regard, they recommended investors to buy Canara Bank shares even though there is high volatility in the PSU bank stock on new Covid variant concern. They said that Rakesh Jhunjhunwala stock is trading below 200 where its risk-reward ratio is quite high.

30 Nov 2021, 09:26:51 AM IST

Halt  RIL-Future  deal, market regulator urged

Amazon.com Inc. and a lobby of at least 15,000 small businesses have written to the markets regulator, demanding revocation of the conditional approval it has granted to the 24,713 crore deal for the Future Group to sell its retail assets to Reliance Industries Ltd.

The US e-commerce giant and the Confederation of Indian Micro Small and Medium Enterprises have written two separate letters to the Securities and Exchange Board of India (Sebi) on the matter. Mint has reviewed a copy of both letters, dated 24 November.

30 Nov 2021, 09:21:18 AM IST

Nifty at open

Nifty staying above the 17,100-mark.

Source: NSE
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Source: NSE
30 Nov 2021, 09:18:58 AM IST

22 of 30 Sensex stocks in green

Sensex stocks witnessed a positive start on Tuesday. 

Source: BSE
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Source: BSE
30 Nov 2021, 09:10:51 AM IST

Petrol, diesel prices today

The price of auto fuel continued to remain steady as petrol and diesel prices stay unchanged on Tuesday across various cities in the country including the national capital Delhi, metro cities Mumbai, Kolkata and Chennai.

Check latest fuel rates here.

30 Nov 2021, 09:05:13 AM IST

Markets in pre-open

At market pre-opening, Sensex was up nearly 400 points.

 

BSE
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BSE
30 Nov 2021, 09:04:05 AM IST

Nifty at pre-open

At market pre-opening, Nifty was down nearly 200 points.

Nifty 50
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Nifty 50
30 Nov 2021, 08:54:59 AM IST

Reliance’s JioMart turns to WhatsApp to compete against Amazon, Flipkart

Indians can now use WhatsApp to order groceries from billionaire Mukesh Ambani’s JioMart via a new “tap and chat" option, as his Reliance Industries Ltd. challenges the domination of Amazon.com Inc. and Walmart Inc.-owned Flipkart.

Delivery is free and there’s no minimum order value, according to JioMart users who got WhatsApp shopping invites with a 90-second tutorial and catalog. Among the daily essentials on offer are fruits, vegetables, cereal, toothpaste and cooking staples like paneer cottage cheese and chickpea flour. Customers can fill their shopping baskets within the app and pay either via JioMart or in cash when receiving their order.

30 Nov 2021, 08:44:23 AM IST

Indiabulls Housing Finance continues to be under NSE's F&O ban

Indiabulls Housing Finance continues to be the only stock under the ban for trade on Tuesday, November 30, 2021 under the futures and options segment by the National Stock Exchange (NSE). The security has been put on ban under the F&O segment as they have crossed 95% of the market-wide position limit (MWPL), as per the NSE.

30 Nov 2021, 08:37:17 AM IST

RBI  supersedes  board of Reliance Capital

The Reserve Bank of India (RBI) said it would refer Reliance Capital Ltd to bankruptcy courts after taking control of the troubled financial services company on Monday, citing governance concerns and payment defaults.

Nageswara Rao Y., a former executive director of Bank of Maharashtra, has been named the company’s administrator, the banking regulator said in a statement.

30 Nov 2021, 08:26:06 AM IST

Oil prices rise on bets OPEC+ will hold off output hike

Oil prices climbed on Tuesday, extending a rebound from last week's plunge on growing expectations major producers would pause plans to add crude supply in January amid uncertainty over the severity of the Omicron coronavirus variant.

U.S. West Texas Intermediate (WTI) crude futures jumped 99 cents, or 1.4%, to $70.94 a barrel at 0105 GMT, adding to a 2.6% rise on Monday.

Brent crude futures climbed 82 cents, or 1.1%, to $74.26 a barrel, after gaining 1% on Monday.

Oil plunged around 12% on Friday along with other markets on fears the heavily mutated Omicron would spark fresh lockdowns and dent global growth.

30 Nov 2021, 08:18:14 AM IST

Suncity Group plunges 48% on CEO’s arrest

Suncity Group Holdings Ltd. plunged by the most since 2008 as the stock resumed trading in Hong Kong following the news of Chief Executive Officer Alvin Chau’s arrest. The slump of as much as 48% came as the world’s biggest junket operator said it expects business to be adversely affected if it loses financial support from the CEO. Shares of other Macau casino operators were mixed after suffering heavy losses on Monday.

30 Nov 2021, 08:10:06 AM IST

Go Fashion share price may list in four digits, say stock market experts

Go Fashion IPO is going to list today at both NSE and BSE. According to stock market experts, the public issue worth 1,013.61 crore may have a magnificent listing today. They said that Go Fashion share price may open in four digits at somewhere around 1100 per share levels.

30 Nov 2021, 08:03:11 AM IST

Day trading guide for Tuesday

7 stocks to buy or sell today — 30th November

30 Nov 2021, 07:57:47 AM IST

Star Health to launch its IPO today

The initial share-sale of Star Health and Allied Insurance Company will open for subscription today and conclude on December 2. The price band has been set at 870-900 per share for its initial public offering (IPO). Star Health on Monday said it has raised a little over 3,217 crore from anchor investors ahead of its IPO.

Should you bet?

30 Nov 2021, 07:50:29 AM IST

Stocks to Watch: Kotak Bank, Asian Paints, Go Fashion, Dr Reddy's

Here is a list of the top 10 stocks that are likely to be in focus today.

30 Nov 2021, 07:43:08 AM IST

SGX Nifty gains points in early deals

SGX Nifty futures traded at 17,126.50 in early deals, up 36 points or 0.21%, indicating a positive start for Indian benchmarks in Tuesday's trade.

30 Nov 2021, 07:36:03 AM IST

Asian stocks advanced Tuesday

Asian stocks and U.S. equity futures advanced Tuesday amid easing concerns about the omicron coronavirus strain and data signaling an improvement in China’s factory activity.

Japanese shares led regional gains, China edged up and Hong Kong dipped. China’s manufacturing purchasing managers index signaled expansion in November in part as an energy shortage abated.

U.S. and European futures pushed higher after the S&P 500 wiped out its November losses and the Nasdaq 100 more than recouped Friday’s rout. The technology sector powered gains both on Wall Street and in Asia.

Treasury yields rose, unwinding some of the haven rally spurred by the virus. Federal Reserve Chair Jerome Powell said omicron poses risks to both sides of the central bank’s mandate for stable prices and maximum employment.

The yen weakened and a dollar gauge slipped. Crude oil advanced.

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