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Nifty Crosses 13,000 For First Time Ever As Markets Soar To Record Highs (November 24)

Market Live: Sensex Up 350 Points, Nifty Firm Above 13,000 Led By Auto, Banking Shares

Stock Market: Gains across sectors – led by financial and energy shares – pushed the indices higher

The S&P BSE Sensex and NSE Nifty 50 indexes surged to record highs in trade on Tuesday as progress on a COVID-19 vaccine spurred hopes for a faster economic recovery. The Sensex rose as much as 422 points to hit an all-time high of 44,499.62 and Nifty 50 index moved above 13,000 mark for the first time. Banking shares were leading the rally in Tuesday’s session as the index of banking shares on the National Stock Exchange – Nifty Bank index -rose over 600 points. Monthly FII inflows of $6.5 billion into Indian markets in November have so far been the best since at least December 2006, according to Refinitiv Eikon data. (Stocks To Watch)

On the vaccine front, AstraZeneca’s encouraging interim results for its COVID-19 shot were followed on Monday by manufacturer Serum Institute’s announcement that it would focus first on supplies to India, raising hopes that the vaccine could become available quickly in the world’s second worst-hit country.

Here are latest market updates: 

Expect Operating Conditions To Remain Challenging For Non-Bank Lenders: Fitch

Fitch expects operating conditions to remain challenging for Indian non-bank lenders, even as the economy gradually recovers from the 2020 pandemic-driven contraction. Earnings and liquidity constraints are likely to continue for many wholesale and retail borrowers, although the effects will differ by sub-segment.

This will place further pressure on credit quality, although the restructuring of problem loans may continue to mask near-term stress, Fitch Ratings said in a note on Indian non-banking finance companies.

Reliance Industries Slips 1% After Jio Platforms Receives Google Deal Amount

Reliance Industries said its subsidiary, Jio Platforms, received the subscription amount of Rs 33,737 crore from Google International LLC, as part of the deal announced in July wherein the internet major agreed to purchase a 7.73 per cent stake in the RIL unit. The shares of Reliance Industries slipped by 1 per cent on the BSE to touch an intra-day low of Rs 1,921.20 in early trading. At 10:45 am, the shares were trading lower by 0.4 per cent at Rs 1,971.80 on the BSE.

Reliance Industries chairman Mukesh Ambani had announced at the group’s 43rd, and first-ever virtual annual general meeting, held on July 15 that Google would invest Rs 33,737 crore for a 7.7 per cent stake in Jio Platforms. This investment by Google valued Jio Platforms at an equity value of Rs 4.36 lakh crore.

Nifty Likely To Hit 13,100-13,200 In Next Seven Trading Sessions: HDFC Securities

The 1-2 day trend of the Nifty is now up and Nifty is likely to target the 13,050 levels in the very near term. Our 3-7 day targets are at 13,100-13,200 as the Nifty has reversed its recent downtrend on the intraday timeframe and we therefore expect more upsides in the coming sessions.

Our bullish bets for next 7 days are off if Nifty dives lower and moves below the recent swing lows of 12,730.

Markets At Noon: Nifty Firm Above 13,000, Sensex Up Nearly 350 Points

The S&P BSE Sensex and NSE Nifty 50 indexes were trading firmly around record highs in noon deals led by gains in HDFC Bank, Axis Bank, ITC, ICICI Bank, Kotak Mahindra Bank and Mahindra & Mahindra. As of 1:02 pm, the Sensex was up 349 points at 44,426 and Nifty advanced 103 points to 13,030.

Key market statistics:

  • All the 11 sector gauges compiled by NSE, barring the index of PSU Banks, were trading higher led by Nifty Auto index’s 1.7 per cent gain.
  • Mid- and small-cap shares trade firmly higher respective indexes rise 0.7 and 0.9 per cent each respectively.
  • 35 shares in the Nifty 50 basket trade higher led by Adani Ports’ 6 per cent gain.
  • Shree Cements, HDFC, BPCL, HDFC Life, IndusInd Bank and Titan among notable losers in the Nifty 50 basket of shares.
Vaccine Hopes, Strong FII Inflows Spur Record Rally In Markets

The NSE Nifty 50 has gained about 12 per cent so far this month on the back of upbeat vaccine trial results and strong inflows from foreign institutional investors (FII), analysts said.

Nifty’s Journey From 7,511 To 13,000 In A Matter Of 8 Months

The NSE Nifty 50 index surpassed 13,000 mark for the first time on Tuesday. The index fell to multi-year lows of 7,511 on March 24 and has rallied a whopping 74 per cent from March lows to hit new record high.

Banking Shares Lead Rally On Dalal Street

Banking shares were leading the rally in today’s session wherein the Sensex and Nifty surged to record highs. The Sensex rose as much as 422 points to hit an all-time high of 44,499.62 and Nifty surpassed 13,000 mark for the first time.

Nifty Bank index was top sectoral gainer, up nearly 2 per cent or 542 points to 29,552.

F&O Check: Premium On Nifty 13,000 Call Option Surges 85%

Premium on the Nifty 13,000 strike price call option contract expiring on November 26 surged as much as 85 per cent to Rs 105. As many as 7.97 lakh shares were added to the open interest which stood at 44.67 lakh shares.

Premium on the Nifty 13,100 strike price call option contract expiring on November 26 surged as much as 78 per cent to Rs 45.65. As many as 5.40 lakh shares were added to the open interest which stood at 27.34 lakh shares.

On the flipside, premium on Nifty 13,000 put option contract expiring on November 26 declined as much as 46 per cent to Rs 65.20. Over 30 lakh shares were added to the open interest which stood at around 42 lakh shares.

Market Breadth Remains Positive

The overall market breadth was positive as 1,421 shares were advancing while 1,069 were declining on the BSE. On the National Stock Exchange, 1,025 were advancing while 760 were losing.

Mid- And Small-Caps Trade In-Line With Larger Peers

Mid- and small-cap shares were witnessing buying interest as the respective indices on National Stock Exchange were up 0.7 and 0.9 per cent each respectively.

Top Mid-Cap Gainers:

  • Future Retail up 10%
  • RBL Bank up 4.59%
  • M&M Financial Services up 4.25%
  • Larsen & Toubro Infotech up 3.75%
  • Shriram City Union Finance up 3.67%

Top Small-Cap Gainers:

  • Kirloskar Brothers up 11.22%
  • Sanghvi Moers up 11%
  • Alembic up 10.41%
  • Future Lifestyle Fashions up 9.79%
  • Bhansali Engineering Polymers up 9.15%
Biocon Shares Rise Over 1% On Hinduja Renewables Two Deal

Biocon shares rose as much as 1.29 per cent to Rs 425.30 apiece on the BSE, having started the day mildly stronger at Rs 422 compared to their previous close of Rs 419.90. The company said it had entered a agreement to acquire a 26 per cent stake in Hinduja Renewables Two, a special purpose vehicle formed for generating power and developing a captive power plant.

Market LIVE Updates: Mid-Cap, Small-Cap Shares Rise

Broad-based buying supported the markets, with mid- and small-cap segments contributing to overall gains.S&P BSE MidCap: +0.51%

S&P BSE SmallCap: +0.75%

Nifty Midcap 100: +0.76%

Nifty Smallcap 100: +0.94%

Nifty 500: +0.78%

Market LIVE Updates: S&P BSE Bankex Index Up Nearly 2%

All sectoral indices but two traded higher on the BSE.  

S&P BSE Auto: +1.95%

S&P BSE Bankex: +1.90%

S&P BSE Finance: +1.29%

S&P BSE Consumer Discretionary Goods & Services: +1.22%

S&P BSE Realty: +1.13%

S&P BSE Industrials: +0.91%

S&P BSE Information Technology: +0.83%

S&P BSE Teck: +0.83%

S&P BSE Telecom: +0.77%

S&P BSE Power: +0.65%

S&P BSE Capital Goods: +0.63%

S&P BSE Fast Moving Consumer Goods: +0.57%

S&P BSE Healthcare: +0.52%

S&P BSE Utilities: +0.40%

S&P BSE Basic Materials: +0.33%

S&P BSE Metal: +0.32%

S&P BSE Consumer Durables: +0.07%

S&P BSE Oil & Gas: -0.06%

S&P BSE Energy: -0.37%

All NSE Sectors Trade Higher, Led By Auto, Banking Shares

All of the 11 sectoral indices on the NSE traded higher, led by the Nifty Auto and Nifty Bank gauges, which were up 1.76 per cent and 1.62 per cent respectively.

Nifty Auto: +1.76%

Nifty Bank: +1.62%

Nifty Private Bank: +1.57%

Nifty Financial Services: +1.16%

Nifty Realty: +1.10%

Nifty IT: +0.97%

Nifty PSU Bank: +0.65%

Nifty FMCG: +0.55%

Nifty Media: +0.53%

Nifty Metal: +0.19%

Nifty Pharma: +0.08%

HDFC Bank, Axis Bank, SBI Lead Banking Stocks Higher
Banking and financial services shares continued to support the markets. The Nifty Bank index – which tracks stocks of 12 major lenders in the country – jumped as much as 1.73 per cent in morning deals, led by HDFC Bank, Axis Bank and SBI. 

Market LIVE: Reliance Industries Shares Fall 1%

Reliance Industries shares declined as much as 1 per cent to Rs 1,931.20 apiece on the BSE in early trade, after the conglomerate said its digital services arm, Jio Platforms, received a subscription amount Rs 33,737 crore from Google International LLC as part of a deal announced in July. (More Stocks To Watch)

HDFC Bank, ICICI Bank, Infosys Top Boosts To Sensex
HDFC Bank, ICICI Bank, Infosys and ITC were the biggest contributors to the gain in Sensex. The four accounted for more than 200 points in the rise in the 30-scrip index. 

Market Breadth Favours Gains
Overall market breadth was positive, with an advance-decline ratio of 2:1, as 1,304 shares moved higher on the BSE against 595 that traded lower. On the NSE, 1,194 shares rose while 497 fell. 
Adani Ports, Maruti Suzuki Eicher Motors Top Nifty Gainers

At 9:39 am, the Sensex traded 356.77 points – or 0.81 per cent – higher at 44,433.92, while the Nifty was up 98.90 points – or 0.77 per cent – at 13,025.35. Adani Ports, Maruti Suzuki, Eicher Motors, HCL Tech and Axis Bank, trading between 1.90 per cent and 3.24 per cent higher, were the top percentage gainers in the Nifty basket of 50 shares. 

On the other hand, Bajaj Auto, Dr Reddy’s, Reliance Industries, HDFC Life and JSW Steel – down 0.24-0.51 per cent each – were the worst hit among 10 laggards in the index. 

Market LIVE: Sensex Touches Record 44,430, Nifty Record 13,030
The Sensex rose 353.26 points – or 0.80 per cent – to touch 44,430.41, and the Nifty touched 13,029.50, up 103.05 points from its previous close — both all-time highs. Both benchmark indices were up for a third day running. 

Nifty Opens Above 13,000 For First Time Ever
The Sensex opened 264.04 points – or 0.60 per cent – higher at 44,341.19, and the Nifty started the day at 13,002.60, up 76.15 points – or 0.59 per cent – from its previous close. Gains across sectors – led by banking, financial services and oil & gas shares – supported the markets. 

SGX Nifty Futures Indicate Flat Opening For Domestic Markets Today

Domestic stock markets are set for a flat start on Tuesday, despite gains across Asian equities as COVID-19 vaccine progress shored up global sentiment and US President-elect Joe Biden was given the go-ahead to begin his White House transition. 

The Singapore Exchange’s Nifty futures – an early indicator of the National Stock Exchange’s Nifty benchmark index – was flat ahead of the opening of Indian markets. At 7:30 am, the SGX Nifty futures traded almost unchanged at 12,953. 

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