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Closing Bell
Market benchmarks Sensex and Nifty started the week on a cautious note even as Asian stocks edged up, catching some of Wall Street's momentum after surprisingly strong United States (US) jobs data.
Key benchmark indices spent most of day range bound with upward bias amid negative market breadth. On the BSE, out of the total 2,639 shares traded, the declining scrips were higher at 1,402 against advancing shares at 1,037.
However buying in select large caps, during the day helped markets close with marginal gains.
The 30-share index ended higher by 42.28 points, or 0.10 per cent, at 40,487.43.
Similarly, the broader NSE Nifty was up 15.45 points, or 0.13 per cent, and ended at 11,936.95.
Top gainers in today's session were HDFC, which was up 2.20%, Axis Bank rose 2.15%, Maruti gained 1.90%, Reliance was up 1.15% and Tata Steel was up 0.85%.
Metal stocks were in limelight and provided much needed support to the overall weak sentiment.
Nifty Metal stocks
Nifty Metal stocks
Nifty Metal Index
Nifty Metal chart
Sensex stocks
Nifty Metal stocks
NIFTY FMCG index
Nifty Auto chart
Sensex stocks
Metal stocks on BSE
Automobile stocks on BSE
Info Edge shares up nearly 3% on acquisition move
Shares of Info Edge went up today after the company, which owns online job portal Naukri, said last week that it will acquire Highorbit Careers - that operates job portals iimjobs.com and hirist.com - for cash consideration of Rs 80.82 crore.
The stock gained nearly 3% to Rs 2,515 on the NSE. Volumes traded in the counter were to the tune of 1.10 lakh shares as at 1 pm.
Weekly trading guide: Bearish bias in SBI
SBI (Rs 320)
The resistance band between ₹347 and ₹351 in the weekly chart proved strong for the stock of SBI, making it witness selling pressure last week. It breached an important support at ₹335, and the outlook has become weak.
EID Parry jumps nearly 9% on huge volumes
Shares of EID Parry surged mainly driven by huge volumes on the NSE today. The Hindu BusinessLine has recommended investors to buy the stock on November 17 in its Technical section under Portfolio.
SBI cuts lending rates by 10 bps
Even with the Reserve Bank of India holding repo rates, the State Bank of India has cut lending rates by 10 basis points across all tenors effective December 10.
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Volume buzzer: VA Tech Wabag jumps 8% with big volumes
Shares of VA Tech Wabag shares surged over 8% on Monday with number of shares traded over three-times as compared to the volumes seen in the previous trading session. The stock rose RS 13.45 or 8.15% to Rs 179.50 on the NSE with volumes of 4.90 lakh shares at 11.25 am.
The stock has been on a medium term downtrend from September onwards. It fell from a high of Rs 312 traded on September 11, 2019.
The Water and waste water management company, VA Tech Wabag Ltd (WABAG), has recently got an Rs 217 crore order from Bangalore Water Supply and Sewerage Board (BWSSB).
It said that while Rs 194 crore worth order is for the construction of 60 MLD waste water treatment plant at K&C Valley with power generation, the balance Rs 23 crore is for operation and maintenance for seven years. The project is funded by Japan International Cooperation Agency (JICA).
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PNB Housing Finance shares tumble 4%
Shares of PNB Housing Finance tumbled over 4 per cent today due to sell-off after recent rally. On November 20 this year, the stock touched a high of Rs 570 and fell steaditly thereafter.
On the NSE, volumes traded were higher around 3.67 lakh shares at 10.45 am today.
Midcap stocks
Nifty hovers over a key support
Both the Nifty and the Sensex have begun to decline; investors should tread with caution. Testing the key resistance in the band between 12,000 and 12,100, the Nifty index retreated and slumped 134 points or 1.1 per cent last week.
Rupee slips 7 paise to 71.27 against US dollar in early trade
The Indian rupee opened on a cautious note and fell 7 paise to 71.27 against the United States (US) dollar in early trade on Monday tracking muted opening in domestic equities and sustained foreign fund outflows
Daily Rupee call: Consider initiating rupee longs on dips
The rupee (INR) managed to hold onto the support at 71.4 even though it faced some pressure against the dollar (USD) on Friday. After weakening in the first part of the session, the domestic currency began appreciating and closed at 71.2 against 71.29, its previous close.
Sensex stocks
Stock trading call: Buy Eris Lifesciences
Investors with a medium-term perspective can buy the stock of Eris Lifesciences at current levels.
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Go long on dips with stop-loss at 71.5
The Indian currency has breached the resistance at 71.4. The immediate resistance is at 71.2, above which 71 will be a key level to watch.
Opening Bell
Market benchmarks Sensex and Nifty started on a cautious note today even as Asian stocks edged up, catching some of Wall Street's momentum after surprisingly strong United States (US) jobs data
The 30-share index was quoted lower by 50.75 points, or 0.06 per cent, to 40,394.10 .
Similarly, the broader NSE Nifty was down 18 points, or 0.15 per cent, to 11,903.45.
Buy Put on Tata Global Beverages to benefit from short term reversal
The long term outlook for Tata Global Beverages (Rs 313.75) remains positive as long as the stock rules above Rs 258. However, In the short term, it may come under pressure.
9.05 am
Asian stocks pulled higher by Wall Street jobs rally
Asian stocks edged up on Monday, catching some of Wall Street's momentum after surprisingly strong United States (US) jobs data although regional gains were capped by concerns about China's economy due to the prolonged US-China trade war.
Japan's benchmark Nikkei advanced 0.3 per cent while MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.3 per cent, with Australian stocks and South Korea's Kospi up 0.2 per cent and 0.6 per cent, respectively.
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