Dear Trader –
The 30-share BSE
benchmark Sensex declined 48 points or 0.07% to settle at 65,970. The broader
NSE Nifty dropped 43.75 points or 0.22% to end at 19,825.
From the Sensex pack,
TCS, HCL Tech, and Wipro were the top laggards, falling 1-1.5%. Tata Motors,
Tech Mahindra, Nestle, and Infosys also ended in the red.On the flip side, Axis
Bank, ICICI Bank, HDFC Bank, JSW Steel, M&M, and Kotak Bank closed in the
green.
Among individual
stocks, Life Insurance Corporation of India ended 9.7% higher as the company
plans to launch 3-4 new products over the coming months to push growth of its
new business premium (NBP).
Paytm shares closed
over 3% lower amid reports that 1.57 crore shares worth Rs 1,441 crore changed
hands in a block deal at an average of Rs 884/share.
Sectorally, Nifty IT
declined 0.97%, and Nifty FMCG fell 0.47%. On the other hand, Nifty Bank,
Financial Service, Metal, Pharma, and Realty ended higher. In the broader
market, Nifty Midcap100 gained 0.06%, while Smallcap100 surged 0.30%.
The market breadth was
skewed in favour of the bears. About 1,948 stocks declined, 1,752 gained, and 114
remained unchanged on the BSE.
Global Markets –
Global shares drifted
on Friday in the absence of guidance from Wall Street, which was closed for the
Thanksgiving holiday on Thursday, but were still on course for their best month
since November 2020.
An indecisive Asia
session extended to Europe, with the Stoxx 600 share index flat in early
dealings. Both S&P 500 futures and Nasdaq futures were also little
changed.MSCI’s index of global shares was flat, but still headed for a monthly
gain of 8.5% after investors grew increasingly confident that the US interest
rates have peaked, with the market narrative shifting to the timing of cuts.
Crude Oil – Brent crude futures were steady on Friday as traders kept
their powder dry ahead of an OPEC+ meeting that could bring agreement on
further supply cuts.Brent crude futures were down 8 cents, or 0.1%, at $81.34 a
barrel, having settled 0.7% down in the previous session. US West Texas
Intermediate crude lost 70 cents, or 0.91%, from Wednesday’s close to $76.40.
There was no settlement for WTI on Thursday, owing to a US public holiday.
Rupee Declines – The Indian rupee ended at a record closing low on Friday,
weighed down by weakness in its Asian peers and dollar demand from foreign
banks.The rupee ended at 83.3675 against the US dollar, lower by 0.03% compared
with its close at 83.3425 in the previous session. The rupee hovered in a
narrow range of 83.3450 to 83.38 during the day’s session and fell 0.1% this
week.
Nifty futures opened at 19869.95 points against the previous close
of 19868.75 and opened at a low of 19800.00 points. Nifty Future closed with an
average movement of 85.50 points and decline of around 43.75 and 19825.00 points…!!
At the start of intra-day trading December gold opened at Rs.61072
fell from a high of Rs.61376 points to a low of Rs.61056 with a rise of 274 points,
a trend of around Rs.61346 and December Silver opened at Rs.72899, fell from a
high of Rs.73540 points to a low of Rs.72627 with a rise of 565 points, a trend
of around Rs.73463.
Meanwhile,
The outlook remains
positive for Indian equities, Attributed the rise in domestic equities to
sustained retail inflows, bets of U.S. rates peaking and robust domestic
macroeconomic conditions.
Technically,
the important key resistances are placed in October Nifty future are at 19825 levels,
which could offer for the market on the higher side. Sustainability above this
zone would signal opens the door for a directional up move with immediate
resistances seen at 19880 – 20008 levels. Immediate support is placed at 19676 –
19606 levels.
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