The headline equity indices traded with minor cuts in afternoon trade. The Nifty managed to hold above the 20,050 mark. Healthcare, pharma and consumer durables shares advanced while banking, IT and financial services stocks declined. Trading was volatile due to November F&O series expires today.

At 13:30 IST, the barometer index, the S&P BSE Sensex, was down 124.47 points or 0.19% to 66,777.44. The Nifty 50 index lost 24.65 points or 0.12% to 20,071.95.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index gained 0.36% while the S&P BSE Small-Cap index advanced 0.50%.

The market breadth was positive. On the BSE, 1,797 shares rose, and 1,836 shares fell. A total of 159 shares were unchanged.

Market valuation of BSE-listed companies crossed a record $4 trillion for the first time on November 29, on the back of positive market sentiment in Indian equities. FIIs turning buyers for five days in a row and DIIs buying aggressively have aided this strong trend. However, this rally has stretched the valuations of domestic equities significantly, pushing India?s market cap GDP ratio to 1.2.

Economy:

Union Cabinet approved extension of the PM Garib Kalyan Anna Yojana for another five years from January 1, 2024, with an estimated cost of Rs 11.8 lakh crore. The scheme was last extended till December 31, 2023.

Indian economy is likely to slow down further to 6.1% in FY25 compared with 6.3% projected in FY24 as global growth remains subdued, the OECD reportedly noted in its latest economic outlook.

New Listing:

Shares of Tata Technologies were currently trading at Rs 1,332.30 at 13:27IST on the BSE, representing a premium of 166.46% as compared with the issue price of Rs 500.

The scrip was listed at Rs 1,199.95, exhibiting a premium of 140% to the issue price. So far, the stock has hit a high of 1,400 and a low of 1199.95. On the BSE, over 25.08 lakh shares of the company were traded in the counter so far.

Shares of Gandhar Oil Refinery (India) were currently trading at Rs 307.55 at 13:28 IST on the BSE, representing a premium of 81.98% as compared with the issue price of Rs 169.

The scrip was listed at Rs 295.40, exhibiting a premium of 74.79% to the issue price. So far, the stock has hit a high of 344.60 and a low of 295.40. On the BSE, over 20.20 lakh shares of the company were traded in the counter so far.

Shares of Fedbank Financial Services were currently trading at Rs 146.40 at 10:09 IST on the BSE, representing a premium of 4.57 % as compared with the issue price of Rs 140.

The scrip was listed at Rs 137.75, exhibiting a discount of 1.61% to the issue price. So far, the stock has hit a high of 148 and a low of 133.15. On the BSE, over 14.44 lakh shares of the company were traded in the counter so far.

Gainers & Losers:

SBI Life Insurance Company (up 2.35%), UltraTech Cement (up 2.16%), Hero MotoCorp (up 2.03%), Eicher Motors (up 1.90%) and Mahindra & Mahindra (up 1.79%) were major Nifty gainers.

Adani Enterprises (down 2.06%), Tata Motors (down 1.08%), IndusInd Bank (down 1.02%), Adani Port and Special Economic Zone (down 0.74%) and Tech Mahindra (down 0.32%) were major Nifty losers.

UltraTech Cement rose 2.16%after the company has acquired a 0.54 mtpa cement grinding assets of Burnpur Cement, located at Patratu in Jharkhand at a consideration of Rs.169.79 crore. The company?s capacity in India now stands at 133 mtpa.

Stocks in Spotlight:

Metro Brands rallied 4.10% and FSN E-Commerce Ventures advanced 2.88% after the Foot Locker, Inc., the New York-based specialty athletic retailer, announced the signing of a long-term licensing agreement with both the companies. This partnership will offer the most comprehensive selection of global sportswear and footwear to sneaker fans in India.

Jupiter Wagons added 0.34%. The company?s board has authorised the opening of the issue for qualified institutions placement (QIP) of equity shares on Wednesday, i.e. 29 November 2023. The board has approved a floor price of Rs. 331.34 for the issue, which is at 2.42% discount to yesterday?s closing price of Rs 339.55. The company?s board will meet on 4 December 2023 to consider and determine the issue price for the equity shares to be allotted to qualified institutional buyers pursuant to the issue.

PCBL gained 2.68%. The company received board approval for entering into a joint venture with Australian company Kinaltek Pty (Kinaltek), for expansion into the battery application market.

Aurobindo Pharma rose 1.55%. The company?s wholly owned subsidiary, Eugia Pharma Specialities received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Budesonide Inhalation Suspension.

Global Markets:

Markets in Europe and Asia advanced on Thursday ahead of key economic data from the region. China?s factory activity shrank for a second straight month in November. The official manufacturing purchasing managers? index fell slightly to 49.4 in November from 49.5 in October, according to data from the National Bureau of Statistics released Thursday.

Retail sales rose in Japan, but at the slowest pace so far this year, while industrial output during the same month increased more than expected. Official data showed Japan retail sales rose 4.2% last month. Japan?s factory output gained 1.0% in October.

South Korea?s central bank held its benchmark policy rate at 3.5% for the seventh meeting in a row, in line with expectations. In its announcement, the Bank of Korea said that ?although inflation has been elevated than previously expected, it is projected to continue its underlying trend of a slowdown.?

US stocks remained near the flat line on Wednesday, even as the U.S. economy grew more than expected. GDP in the third quarter accelerated at a 5.2% annualized pace, above the initial estimate of 4.9%.

Investors will focus on the Fed's preferred measure of inflation on Thursday and Euro Zone consumer inflation figures for further clarity on the where inflation is headed. Fed Chair Jerome Powell is due to speak on Friday. His words will be scrutinized by traders to gauge where rates may head.

Oil prices settled more than 1% higher on Wednesday as futures contracts gain momentum ahead of key OPEC meeting on Thursday. OPEC and its allies, OPEC+, are set to hold a virtual meeting on production cuts.

The key equity indices declined further and moved towards the day's low in afternoon trade. The Nifty managed to hold above the 20,000 level. Pharma shares rose for second day in a row.

At 12:28 IST, the barometer index, the S&P BSE Sensex, was down 187.67 points or 0.28% to 66,714.24. The Nifty 50 index lost 42.95 points or 0.21% to 20,053.65.

In the broader market, the S&P BSE Mid-Cap index gained 0.43% while the S&P BSE Small-Cap index advanced 0.41%.

The market breadth was positive. On the BSE, 1784 shares rose, and 1782 shares fell. A total of 171 shares were unchanged.

Market valuation of BSE-listed companies crossed a record $4 trillion for the first time on November 29, on the back of positive market sentiment in Indian equities. FIIs turning buyers for five days in a row and DIIs buying aggressively have aided this strong trend. However, this rally has stretched the valuations of domestic equities significantly, pushing India?s market cap GDP ratio to 1.2.

Economy:

Union Cabinet approved extension of the PM Garib Kalyan Anna Yojana for another five years from January 1, 2024, with an estimated cost of Rs 11.8 lakh crore. The scheme was last extended till December 31, 2023.

Indian economy is likely to slow down further to 6.1% in FY25 compared with 6.3% projected in FY24 as global growth remains subdued, the OECD reportedly noted in its latest economic outlook.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 4.28% to 13.25. The Nifty 28 December 2023 futures were trading at 20,186, at a premium of 132.35 points as compared with the spot at 20,053.65.

The Nifty option chain for the 28 December 2023 expiry showed maximum Call OI of 31.6 lakh contracts at the 21,000 strike price. Maximum Put OI of 50.2 lakh contracts were seen at 19,000 strike price.

Buzzing Index:

The Nifty Pharma rose 0.85% to 16,126. The index has added 1.42% in two sessions.

Granules India (up 3.27%), Glaxosmithkline Pharmaceuticals (up 2.88%), Divis Laboratories (up 1.61%), Alkem Laboratories (up 1.58%) and Natco Pharma (up 1.58%) were the top gainers.

Among the other gainers were Aurobindo Pharma (up 1.58%), Lupin (up 1.39%), Laurus Labs (up 1.39%), Glenmark Pharmaceuticals (up 1.27%) and Torrent Pharmaceuticals (up 1.14%).

On the other hand, Sanofi India (down 0.26%) and Cipla (down 0.12%), moved lower.

Stocks in Spotlight:

Jupiter Wagons fell 2.37%. The company?s board has authorised the opening of the issue for qualified institutions placement (QIP) of equity shares on Wednesday, i.e. 29 November 2023. The board has approved a floor price of Rs. 331.34 for the issue, which is at 2.42% discount to yesterday?s closing price of Rs 339.55. The company?s board will meet on 4 December 2023 to consider and determine the issue price for the equity shares to be allotted to qualified institutional buyers pursuant to the issue.

PCBL gained 2.31%. The company received board approval for entering into a joint venture with Australian company Kinaltek Pty (Kinaltek), for expansion into the battery application market.

Aurobindo Pharma rose 1.65%. The company?s wholly owned subsidiary, Eugia Pharma Specialities received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Budesonide Inhalation Suspension.

Budesonide Inhalation Suspension is used for maintenance treatment of asthma and as prophylactic therapy in children of age 12 months to 8 years. According to IQVIA, the product has an estimated market size of $226.4 million for the twelve months ending September 2023.

At 11:30 AM IST, the barometer index, the S&P BSE Sensex, was down 188.96 points or 0.28% to 66,712.95. The Nifty 50 index lost 34.60 points or 0.17% to 20,062.

In the broader market, the S&P BSE Mid-Cap index gained 0.44% while the S&P BSE Small-Cap index advanced 0.18%.

The market breadth was negative. On the BSE, 1,741 shares rose, and 1,772 shares fell. A total of 167 shares were unchanged.

Buzzing Index:

The Nifty Financial Services index declined 0.31% to 19,938.40. The index added 2.22% in past four trading sessions.

HDFC Bank Ltd (down 1.01%), ICICI Bank Ltd (down 0.92%), Indian Energy Exchange Ltd (down 0.21%), Bajaj Finance Ltd (down 0.03%), Cholamandalam Investment & Finance Company Ltd (down 0.03%) and State Bank of India (down 0.03%) slipped.

On the other hand, SBI Life Insurance Company Ltd (up 2.43%) ,LIC Housing Finance Ltd (up 2.39%) and ICICI Lombard General Insurance Company Ltd (up 1.62%) edged higher.

Stocks in Spotlight:

RateGain Travel Technologies added 0.17%.The company said that it has partnered with Best Airlines Rep for providing accurate pricing intelligence for latter?s partner airlines. This strategic alliance marks the introduction of RateGain's airline pricing solution, AirGain, enhancing the capabilities of Best Airlines Rep's airline partners by offering immediate access to pricing insights from over 200 sources. This includes data from websites, mobile apps, GDS, and more, ensuring quick and up-to-the-minute information.

JSW Infrastructure fell 0.26%. The firm said that its subsidiary, Masad Infra Services has entered into a concession agreement with Karnataka Government. The consession agreement includes development of All- weather, deep water, greenfield port at Keni in Karnataka on Public Private Partnership basis (DBFOT) model.

Man Infraconstruction rose 0.11%. The Mumbai headquartered company on Wednesday announced that its board has approved fund raising of Rs 550 crore through preferential issue.

Global Market:

Asian stocks traded mixed on Thursday ahead of key economic data from the region. China?s factory activity shrank for a second straight month in November. The official manufacturing purchasing managers? index fell slightly to 49.4 in November from 49.5 in October, according to data from the National Bureau of Statistics released Thursday.

Retail sales rose in Japan, but at the slowest pace so far this year, while industrial output during the same month increased more than expected. Official data showed Japan retail sales rose 4.2% last month. Japan?s factory output gained 1.0% in October.

South Korea?s central bank held its benchmark policy rate at 3.5% for the seventh meeting in a row, in line with expectations. In its announcement, the Bank of Korea said that ?although inflation has been elevated than previously expected, it is projected to continue its underlying trend of a slowdown.?

US stocks remained near the flat line on Wednesday, even as the U.S. economy grew more than expected. GDP in the third quarter accelerated at a 5.2% annualized pace, above the initial estimate of 4.9%.

Investors will focus on the Fed's preferred measure of inflation on Thursday and Euro Zone consumer inflation figures for further clarity on the where inflation is headed. Fed Chair Jerome Powell is due to speak on Friday. His words will be scrutinized by traders to gauge where rates may head.

Oil prices settled more than 1% higher on Wednesday as futures contracts gain momentum ahead of key OPEC meeting on Thursday. OPEC and its allies, OPEC+, are set to hold a virtual meeting on production cuts.

At 10:30 AM IST, the barometer index, the S&P BSE Sensex, was down 182.62 points or 0.27% to 66,719.29. The Nifty 50 index added 41.55 points or 0.21% to 20,055.05.

In the broader market, the S&P BSE Mid-Cap index gained 0.19% while the S&P BSE Small-Cap index advanced 0.02%.

The market breadth was negative. On the BSE, 1,608 shares rose, and 1,767 shares fell. A total of 203 shares were unchanged.

New Listing:

Shares of Tata Technologies were currently trading at Rs 1,304.25 at 10:13 IST on the BSE, representing a premium of 160.85% as compared with the issue price of Rs 500.

The scrip was listed at Rs 1,199.95, exhibiting a premium of 140% to the issue price. So far, the stock has hit a high of 1,400 and a low of 1199.95. On the BSE, over 17.53 lakh shares of the company were traded in the counter so far.

Shares of Gandhar Oil Refinery (India) were currently trading at Rs 305.60 at 10:13 IST on the BSE, representing a premium of 80.83% as compared with the issue price of Rs 169.

The scrip was listed at Rs 295.40, exhibiting a premium of 74.79% to the issue price. So far, the stock has hit a high of 344.60 and a low of 295.40. On the BSE, over 14.67 lakh shares of the company were traded in the counter so far.

Shares of Fedbank Financial Services were currently trading at Rs 136.55 at 10:09 IST on the BSE, representing a discount of 2.46% as compared with the issue price of Rs 140.

The scrip was listed at Rs 137.75, exhibiting a discount of 1.61% to the issue price. So far, the stock has hit a high of 139.55 and a low of 133.15. On the BSE, over 3.27 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Bank index fell 0.43% to 44,375.90. The index added 2.57% in past four trading sessions.

Punjab National Bank (down 1.33%), Federal Bank Ltd (down 1.06%), ICICI Bank Ltd (down 0.89%), IndusInd Bank Ltd (down 0.74%), HDFC Bank Ltd (down 0.64%), State Bank of India (down 0.26%) and Kotak Mahindra Bank Ltd (down 0.16%) slipped.

On the other hand, Bandhan Bank Ltd (up 2.47%) ,Bank of Baroda (up 1.29%) and Axis Bank Ltd (up 0.76%) edged higher.

At 09:30 AM IST, the barometer index, the S&P BSE Sensex, was up 30.25 points or 0.05% to 66,932.16. The Nifty 50 index added 14.10 points or 0.07% to 20,110.70.

In the broader market, the S&P BSE Mid-Cap index gained 0.13% while the S&P BSE Small-Cap index advanced 0.26%. The S&P BSE Mid-Cap index and S&P BSE Small-Cap index has hit an all time high of 34,073.13 and 40,172.46.

The market breadth was strong. On the BSE, 1,736 shares rose, and 1,063 shares fell. A total of 134 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 71.91 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,360.81 crore in the Indian equity market on 29 November, provisional data showed.

India's gross domestic product (GDP) for the third quarter will be released today, 30 November 2023. The infrastructure output data for October will be released on the same day.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.01% to 7.253 as compared with previous close 7.252.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.3025, compared with its close of 83.3250 during the previous trading session.

MCX Gold futures for 5 December 2023 settlement added 0.03% to Rs 62,621.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.04% to 102.81.

The United States 10-year bond yield slipped 0.06% to 4.269.

In the commodities market, Brent crude for January 2024 settlement declined 5 cent or 0.06% to $83.05 a barrel.

Politics:

On the political front, all eyes are set on exit poll results. The exit polls results for all the five states ? Rajasthan Madhya Pradesh, Mizoram, Chhattisgarh and Telangana ? will be declared after the voting ends in Telangana on Thursday. The assembly elections in these five states were held between November 7 and November 30. The counting of votes will be held on December 3. The state polls are being considered as a semi-final before the 2024 assembly elections.

Stocks in spotlight:

UltraTech Cement rose 1.66%after the company has acquired a 0.54 mtpa cement grinding assets of Burnpur Cement, located at Patratu in Jharkhand at a consideration of Rs.169.79 crore. The company?s capacity in India now stands at 133 mtpa.

Metro Brands rallied 5.84% and FSN E-Commerce Ventures advanced 1.80% after the Foot Locker, Inc., the New York-based specialty athletic retailer, announced the signing of a long-term licensing agreement with both the companies. This partnership will offer the most comprehensive selection of global sportswear and footwear to sneaker fans in India.

Global markets:

Asian stocks fell across the board on Thursday ahead of key economic data from the region. China?s factory activity shrank for a second straight month in November. The official manufacturing purchasing managers? index fell slightly to 49.4 in November from 49.5 in October, according to data from the National Bureau of Statistics released Thursday.

Retail sales rose in Japan, but at the slowest pace so far this year, while industrial output during the same month increased more than expected. Official data showed Japan retail sales rose 4.2% last month. Japan?s factory output gained 1.0% in October.

South Korea?s central bank held its benchmark policy rate at 3.5% for the seventh meeting in a row, in line with expectations. In its announcement, the Bank of Korea said that ?although inflation has been elevated than previously expected, it is projected to continue its underlying trend of a slowdown.?

US stocks remained near the flat line on Wednesday, even as the U.S. economy grew more than expected. GDP in the third quarter accelerated at a 5.2% annualized pace, above the initial estimate of 4.9%.

Investors will focus on the Fed's preferred measure of inflation on Thursday and Euro Zone consumer inflation figures for further clarity on the where inflation is headed. Fed Chair Jerome Powell is due to speak on Friday. His words will be scrutinized by traders to gauge where rates may head.

Oil prices settled more than 1% higher on Wednesday as futures contracts gain momentum ahead of key OPEC meeting on Thursday. OPEC and its allies, OPEC+, are set to hold a virtual meeting on production cuts.

At 14:30 IST, the barometer index, the S&P BSE Sensex, was up 650.08 points or 0.98% to 66,824.28. The Nifty 50 index added 186.60 points or 0.94% to 20,076.30.

In the broader market, the S&P BSE Mid-Cap index gained 0.75% while the S&P BSE Small-Cap index advanced 0.30%.

The market breadth was positive. On the BSE, 1,961 shares rose, and 1,658 shares fell. A total of 149 shares were unchanged.

Numbers to Track:

The yield on India's 10-year benchmark federal paper fell 0.30% to 7.251 as compared with previous close 7.273.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.3075, compared with its close of 83.3425 during the previous trading session.

MCX Gold futures for 5 December 2023 settlement added 0.17% to Rs 62,490.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.01% to 102.75.

The United States 10-year bond yield slipped 1.12% to 4.287.

In the commodities market, Brent crude for January 2024 settlement rose 31 cents or 0.38% to $81.99 a barrel.

Buzzing Index:

The Nifty Financial Services index advanced 1.20% to 19,938.15. The index gained 1.9% in four trading sessions.

Muthoot Finance (up 4.57%), LIC Housing Finance (up 3.68%), Axis Bank (up 2.43%), Power Finance Corporation (up 1.97%), HDFC Bank (up 1.38%), REC (up 1.19%), ICICI Bank (up 1.04%), HDFC Asset Management Company (up 0.74%), Shriram Finance (up 0.7%) and State Bank of India (up 0.57%) advanced.

On the other hand, ICICI Lombard General Insurance Company (down 0.75%), SBI Life Insurance Company (down 0.18%) and Indian Energy Exchange (down 0.14%) edged lower.

The benchmark indices continued to march higher and hit a fresh intraday high in afternoon trade. The Nifty traded above the 20,000 level. IT, auto and bank stocks were in demand while realty, media and consumer durables shares declined.

At 13:28 IST, the barometer index, the S&P BSE Sensex, was up 538.96 points or 0.81% to 66,713.16. The Nifty 50 index added 153.30 points or 0.77% to 20,043.

In the broader market, the S&P BSE Mid-Cap index gained 0.75% while the S&P BSE Small-Cap index advanced 0.30%.

The market breadth was positive. On the BSE, 1,961 shares rose, and 1,658 shares fell. A total of 149 shares were unchanged.

New Listing:

Shares of Indian Renewable Energy Development Agency (IREDA) were locked in an upper circuit of 20% at Rs 59.99 at 13:23 IST on the BSE, representing a premium of 87.47% as compared with the issue price of Rs 32.

The scrip was listed at Rs 50, exhibiting a premium of 56.25% to the issue price. So far, the stock has hit a low of 49.99. On the BSE, over 374.66 lakh shares of the company were traded in the counter so far.

Gainers & Losers:

Hero MotoCorp (up 3.55%), Mahindra & Mahindra (up 2.51%), Axis Bank (up 2.38%), Wipro (up 2.31%) and Britannia Industries (up 2.07%) were major Nifty gainers.

ONGC (down 1.01%), Nestle India (down 0.70%), Eicher Motors (down 0.61%), Adani Enterprises (down 0.38%) and UltraTech Cement (down 0.32%) were major Nifty losers.

Stocks in Spotlight:

Tata Power Company rose 0.89% after Tata Power Renewable Energy (TPREL), a subsidiary of the company, received a Letter of Award (LOA) for developing a 200 MW Firm and Dispatchable Renewable Energy (FDRE) project with SJVN Limited (SJVN).

Bharat Petroleum Corporation gained 1.79%. The company announced that its board has declared an interim dividend of Rs 21 per equity share for the financial year 2023-24.

Yatharth Hospital & Trauma Care Services dropped 11.12% following an order from the Commissionerate of Sagar Sambhag, Madhya Pradesh to take over the premises of Ramraja Hospital, citing government ownership.

Munjal Auto Industries rallied 4.71%, following the rectification of its Income Tax demand from Rs 401.42 crore to Rs 69.74 lakh. This adjustment came subsequent to the company's application filings and the receipt of a Rectification order for the Assessment Year 2022-23.

Aster DM Healthcare zoomed 17.14%. The company has received approvals from the board its subsidiary Affinity Holdings (Affinity) and from its board of directors to separate the India and GCC businesses into two distinct and standalone entities.

Under the separation plan, Affinity has entered into a definitive agreement with a consortium of investors led by Fajr Capital, a sovereign-owned private equity firm headquartered in the UAE, to invest in Aster?s GCC business.

Global Markets:

Most of the markets in Europe and Asia declined on Wednesday as investors assess comments from the U.S. Federal Reserve board members and digest Australia?s October inflation figures.

Australia?s weighted inflation rate for October slowed more than expected, coming in at 4.9%. This was also lower than the 5.6% seen in September. The overall inflation rate stood at 4.8%, its lowest level since January 2022.

On Tuesday, Federal Reserve Governor Christopher Waller said he was growing more confident that policy was in a place now to bring inflation back under control. However, he maintained that inflation was still too high. Waller also said the Fed might start lowering rates if inflation continues to ease over the next three to five months. In contrast, Governor Michelle Bowman said more rate hikes will likely be needed as evolving dynamics keep inflation elevated.

US stocks rose Tuesday, resuming their November rally, as comments from a Federal Reserve official raised hope that the central bank may not need to raise interest rates further.

Investors will focus this week on the Fed's preferred measure of inflation on Thursday and euro zone consumer inflation figures for further clarity on the where inflation is headed. Fed Chair Jerome Powell is due to speak on Friday. His words will be scrutinized by traders to gauge where rates may head.

The key equity indices surged and hit fresh intraday high in afternoon trade. The Nifty traded above the 20,000 level. Private bank stocks witnessed decent buying for fourth day in a row.

At 12:28 IST, the barometer index, the S&P BSE Sensex, was up 476.87 points or 0.72% to 66,651.07. The Nifty 50 index added 145.25 points or 0.73% to 20,034.95.

In the broader market, the S&P BSE Mid-Cap index gained 0.80% while the S&P BSE Small-Cap index advanced 0.30%.

The market breadth was positive. On the BSE, 2003 shares rose, and 1586 shares fell. A total of 137 shares were unchanged.

Economy:

Auto industry body FADA has reportedly said that the vehicle registrations - a proxy for retail sales - increased to a record 3.8 million units this festive season amid robust consumer demand in the local market.

Buoyed by the PLI scheme and free trade agreements with the UAE and Australia, the industry reportedly expects India?s exports of manmade fibre textiles to increase 75% to USD 11.4 billion in 2030 from around USD 6.5 billion in 2021-22.

As per media reports, India is set to launch its first-ever auction of 20 critical mineral blocks on November 29. This initiative aims not only to bolster economic growth but also secure essential resources for driving the nation's green energy shift, the reports added.

Buzzing Index:

The Nifty Private Bank index added 0.82% to 23,027.15. The index has gained 1.81% in the past four trading sessions.

Axis Bank (up 1.84%), HDFC Bank (up 1.36%), Bandhan Bank (up 1.06%), ICICI Bank (up 0.73%) and Kotak Mahindra Bank (up 0.73%) were the top gainers.

Among the other gainers were IndusInd Bank (up 0.44%), RBL Bank (up 0.4%), City Union Bank (up 0.34%), and Federal Bank (up 0.03%).

Stocks in Spotlight:

Munjal Auto Industries surged 6.41%, following the rectification of its Income Tax demand from Rs 401.42 crore to Rs 69.74 lakh. This adjustment came subsequent to the company's application filings and the receipt of a Rectification order for the Assessment Year 2022-23.

Bharat Petroleum Corporation advanced 1.60%. The company announced that its board has declared an interim dividend of Rs 21 per equity share for the financial year 2023-24.

Aster DM Healthcare zoomed 12.78%. The company has received approvals from the board its subsidiary Affinity Holdings (Affinity) and from its board of directors to separate the India and GCC businesses into two distinct and standalone entities.

Under the separation plan, Affinity has entered into a definitive agreement with a consortium of investors led by Fajr Capital, a sovereign-owned private equity firm headquartered in the UAE, to invest in Aster?s GCC business.

At 11:30 IST, the barometer index, the S&P BSE Sensex, was up 424.03 points or 0.64% to 66,598.23. The Nifty 50 index gained 127.30 points or 0.64% to 20,017.

In the broader market, the S&P BSE Mid-Cap index rose 0.82% while the S&P BSE Small-Cap index gained 0.41%.

The market breadth was strong. On the BSE, 2,089 shares rose and 1,433 shares fell. A total of 145 shares were unchanged.

Buzzing Index:

The Nifty Auto index gained 1.12% to 17,395.35. The index added 3.68% in six trading sessions.

Hero MotoCorp (up 2.95%), Samvardhana Motherson International (up 2.72%), Mahindra & Mahindra (up 2.38%), Tube Investments of India (up 1.76%), TVS Motor Company (up 1.42%), Bosch (up 1.37%), Bharat Forge (up 1.36%), Balkrishna Industries (up 0.86%), MRF (up 0.84%) and Bajaj Auto (up 0.81%) edged higher.

Stocks in Spotlight:

Global Health declined 0.33%. The company announced that Sanjeev Kumar has resigned from the position of chief financial officer (CFO) of the company due to personal reason. The last working date will be close of business hours, 15 December 2023.

Yatharth Hospital & Trauma Care Services dropped 10.14% following an order from the Commissionerate of Sagar Sambhag, Madhya Pradesh to take over the premises of Ramraja Hospital, citing government ownership.

Solar Industries India rose 0.20%. The company said that ICRA has reaffirmed the rating at [ICRA] A1+? on the commercial paper of the company, amounting to Rs 100 crore.

Global Markets:

Most of the Asian shares declined as investors assess comments from the U.S. Federal Reserve board members and digest Australia?s October inflation figures.

Australia?s weighted inflation rate for October slowed more than expected, coming in at 4.9%. This was also lower than the 5.6% seen in September. The overall inflation rate stood at 4.8%, its lowest level since January 2022.

On Tuesday, Federal Reserve Governor Christopher Waller said he was growing more confident that policy was in a place now to bring inflation back under control. However, he maintained that inflation was still too high. Waller also said the Fed might start lowering rates if inflation continues to ease over the next three to five months. In contrast, Governor Michelle Bowman said more rate hikes will likely be needed as evolving dynamics keep inflation elevated.

US stocks rose Tuesday, resuming their November rally, as comments from a Federal Reserve official raised hope that the central bank may not need to raise interest rates further.

Investors will focus this week on the Fed's preferred measure of inflation on Thursday and euro zone consumer inflation figures for further clarity on the where inflation is headed. Fed Chair Jerome Powell is due to speak on Friday. His words will be scrutinized by traders to gauge where rates may head.

At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 389.22 points or 0.59% to 66,563.42. The Nifty 50 index gained 115.60 points or 0.58% to 20,005.30.

In the broader market, the S&P BSE Mid-Cap index rose 0.66% while the S&P BSE Small-Cap index gained 0.46%.

The market breadth was strong. On the BSE, 2,122 shares rose and 1,267 shares fell. A total of 166 shares were unchanged.

New Listing:

Shares of Indian Renewable Energy Development Agency (IREDA) were currently trading at Rs 54.67 at 10:20 IST on the BSE, representing a premium of 70.84% as compared with the issue price of Rs 32.

The scrip was listed at Rs 50, exhibiting a premium of 56.25% to the issue price. So far, the stock has hit a high of 55.70 and a low of 49.99. On the BSE, over 197.59 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty IT index gained 1.39% to 32,564.60. The index added 1.59% in the past trading session.

Mphasis Ltd (up 2.7%), Coforge Ltd (up 2.31%), Tech Mahindra Ltd (up 2.29%), Wipro Ltd (up 1.93%), L&T Technology Services Ltd (up 1.76%), Persistent Systems Ltd (up 1.65%), HCL Technologies Ltd (up 1.49%), Infosys Ltd (up 1.22%), LTIMindtree Ltd (up 1.2%) and Tata Consultancy Services Ltd (up 1.11%) advanced.

Stocks in Spotlight:

Adani Power added 0.91%. The company has launched a pioneering pilot project at its Mundra plant to incorporate green ammonia into its decarbonization efforts. The project involves the co-firing of up to 20% green ammonia in the boiler of a traditional coal-fired 330MW unit. This green ammonia is derived from green hydrogen produced through electrolysis using renewable energy, providing a carbon-neutral alternative to fossil fuels when combusted.

PCBL advanced 4.27% after the company said that its board has accorded its in-principle approval for acquiring 212,172 shares (representing 100% stake) of Aquapharm Chemicals (ACPL) for an aggregate consideration of Rs 3,800 crore.

Havells India rose 0.77%. The firm said that it has partnered with TeknoDome, a distribution conglomerate headquartered in Dubai, for launching its consumer durable brand 'Lloyd? in the Middle East Market.

At 09:29 IST, the barometer index, the S&P BSE Sensex, was up 328.17 points or 0.50% to 66,502.37. The Nifty 50 index gained 96.90 points or 0.49% to 19,986.60.

In the broader market, the S&P BSE Mid-Cap index rose 0.69% while the S&P BSE Small-Cap index gained 0.45%.

The market breadth was strong. On the BSE, 1,970 shares rose and 873 shares fell. A total of 111 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 783.82 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,324.98 crore in the Indian equity market on 28 November, provisional data showed.

Stocks in Spotlight:

Tata Power Company rose 1.55% after Tata Power Renewable Energy (TPREL), a subsidiary of the company, received a Letter of Award (LOA) for developing a 200 MW Firm and Dispatchable Renewable Energy (FDRE) project with SJVN Limited (SJVN).

Bharat Heavy Electricals (BHEL) advanced 1.89% after BHEL and Electricit? de France S.A., France (EDF), a French state-owned company and largest nuclear operator worldwide, have signed a Memorandum of Cooperation (MoC) to explore the opportunity to maximize the local content of the Jaitapur Nuclear Power Plant Project (6x1650 MWe) to be established by NPCIL in India.

Global Markets:

Asian stocks were trading lower as investors assess comments from the U.S. Federal Reserve board members and digest Australia?s October inflation figures.

Australia?s weighted inflation rate for October slowed more than expected, coming in at 4.9%. This was also lower than the 5.6% seen in September. The overall inflation rate stood at 4.8%, its lowest level since January 2022.

On Tuesday, Federal Reserve Governor Christopher Waller said he was growing more confident that policy was in a place now to bring inflation back under control. However, he maintained that inflation was still too high. Waller also said the Fed might start lowering rates if inflation continues to ease over the next three to five months. In contrast, Governor Michelle Bowman said more rate hikes will likely be needed as evolving dynamics keep inflation elevated.

US stocks rose Tuesday, resuming their November rally, as comments from a Federal Reserve official raised hope that the central bank may not need to raise interest rates further.

Investors will focus this week on the Fed's preferred measure of inflation on Thursday and euro zone consumer inflation figures for further clarity on the where inflation is headed. Fed Chair Jerome Powell is due to speak on Friday. His words will be scrutinized by traders to gauge where rates may head.

At 14:28 IST, the barometer index, the S&P BSE Sensex, was up 92.75 points or 0.14% to 66,084.14. The Nifty 50 index added 76.70 points or 0.39% to 19,871.40.

In the broader market, the S&P BSE Mid-Cap index gained 0.17% while the S&P BSE Small-Cap index advanced 0.13%.

The market breadth was positive. On the BSE, 1,984 shares rose and 1,776 shares fell. A total of 176 shares were unchanged.

Numbers to Track:

The yield on India's 10-year benchmark federal paper fell 0.07% to 7.267 as compared with previous close 7.272.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.34, compared with its close of 83.40 during the previous trading session.

MCX Gold futures for 5 December 2023 settlement added 0.03% to Rs 61,556.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.09% to 103.29.

The United States 10-year bond yield advanced 0.25% to 4.398.

In the commodities market, Brent crude for January 2024 settlement rose 62 cents or 0.78% to $80.60 a barrel.

Buzzing Index:

The Nifty Pharma index declined 0.42% to 15,887.25. The index advanced 0.87% in the past trading session.

Granules India (down 2.43%), Aurobindo Pharma (down 2.11%), Glenmark Pharmaceuticals (down 1.81%), Abbott India (down 1.42%) and Zydus Lifesciences (down 1.07%), Biocon (down 0.81%), Laurus Labs (down 0.78%), Cipla (down 0.61%), Natco Pharma (down 0.58%) and Torrent Pharmaceuticals (down 0.56%) slipped.

On the other hand, Gland Pharma (up 1.5%) ,Glaxosmithkline Pharmaceuticals (up 0.94%) and Dr Reddys Laboratories (up 0.4%) gained.

The frontline indices traded sideways in afternoon trade. The Nifty traded above the 19,800 level. Oil & gas, metal and PSU bank shares advanced while IT, healthcare and pharma stocks declined.

At 13:27 IST, the barometer index, the S&P BSE Sensex, was down 21.34 points or 0.03% to 65,948.70. The Nifty 50 index added 27.75 points or 0.14% to 19,822.45.

In the broader market, the S&P BSE Mid-Cap index and S&P BSE Small-Cap index gained to 0.14%.

The market breadth was positive. On the BSE, 1,959 shares rose and 1,779 shares fell. A total of 168 shares were unchanged.

Gainers & Losers:

Adani Enterprises (up 10.32%), Adani Ports and Special Economic Zone (up 5.84%), Tata Motors (up 3.14%), Bharat Petroleum Corporation (BPCL) (up 2.59%) and UltraTech Cement (up 1.90%) were major Nifty gainers.

Eicher Motors (down 1.09%), SBI Life Insurance Company (down 0.94%), Apollo Hospitals Enterprise (down 0.88%), LTIMindtree (down 0.82%) and ICICI Bank (down 0.71%) were major Nifty losers.

Stocks in Spotlight:

Maruti Suzuki India added 0.11%. The company has planned to increase the prices of its cars in January 2024 on account of increased cost pressure driven by overall inflation and increased commodity prices. While the company makes maximum efforts to reduce cost and offset the increase, it may have to pass on some increase to the market.

Newgen Software Technologies hit an upper circuit of 5% after the company announced that its board has approved to issue 1 bonus equity shares for each share held. The company has set record date as on Friday, 12 January 2024.

Netweb Technologies India jumped 8.47% after announcing collaboration with NVIDIA to advance AI and high-performance computing capabilities.

Vascon Engineers rallied 3.73%. The company announced that its board will meet on Thursday, 30 November 2023 to consider fund raising by issuing equity shares or any other eligible securities.

Global Markets:

Markets in Europe declined while Asian stocks traded mixed on Tuesday, as investors remained convinced the US Federal Reserve was done with its rate-hike cycle and looked ahead to a crucial inflation report later this week.

Investors will focus this week on the Fed's preferred measure of inflation on Thursday and euro zone consumer inflation figures for further clarity on the where inflation is headed. Fed Chair Jerome Powell is due to speak on Friday. His words will be scrutinized by traders to gauge where rates may head.

European Central Bank President Christine Lagarde said on Monday the central bank's fight to contain price growth is not yet done, citing a still strong wage growth and an uncertain outlook even as inflation pressures in euro zone ease.

US stocks edged lower on Monday, with investors taking a post-Thanksgiving pause as the holiday shopping season kicked into high gear.

The domestic equity barometers traded flat in early afternoon trade. The Nifty traded below the 19,850 level. PSU bank witnessed some bit of value buying after declining in the past four sessions.

At 12:31 IST, the barometer index, the S&P BSE Sensex, was up 4.56 points or 0.01% to 65,974.60. The Nifty 50 index added 39.35 points or 0.02% to 19,834.05.

In the broader market, the S&P BSE Mid-Cap index gained 0.08% while the S&P BSE Small-Cap index advanced 0.13%.

The market breadth was positive. On the BSE, 1,958 shares rose and 1,730 shares fell. A total of 186 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 5.18% to 11.92. The Nifty 30 November 2023 futures were trading at 19,864.55, at a premium of 43.1 points as compared with the spot at 19,805.90.

The Nifty option chain for the 30 November 2023 expiry showed maximum Call OI of 122.4 lakh contracts at the 19,900 strike price. Maximum Put OI of 154.4 lakh contracts were seen at 19,800 strike price.

Buzzing Index:

The Nifty PSU Bank index rose 1.39% to 5,046.55. The index had declined _ % in the past four trading sessions.

Punjab National Bank (up 2.17%), Canara Bank (up 1.62%), Bank of Baroda (up 1.55%), Punjab & Sind Bank (up 1.47%) and Bank of Maharashtra (up 1.04%) were the top gainers.

Among the other gainers were Union Bank of India (up 0.7%), State Bank of India (up 0.44%), Bank of India (up 0.1%).

On the other hand, Indian Bank (down 0.86%), UCO Bank (down 0.66%) and Central Bank of India (down 0.45%) turned lower.

Stocks in Spotlight:

Vascon Engineers rallied 4.29%. The company announced that its board will meet on Thursday, 30 November 2023 to consider fund raising by issuing equity shares or any other eligible securities.

C.E. Info Systems rose 0.39%. The company said that its board has approved raising of funds for an amount not exceeding Rs 500 crore through qualified institutional placement (QIP).

Dynamatic Technologies gained 3.02%. The company announced completion of first delivery of Airbus A220 escape hatch door assembly to Airbus Atlantic.

At 11.30 IST, the barometer index, the S&P BSE Sensex, was down 36.73 points or 0.06% to 65,933.31. The Nifty 50 index gained 21.65 points or 0.11% to 19,816.35.

In the broader market, the S&P BSE Mid-Cap index declined 0.06% while the S&P BSE Small-Cap index gained 0.16%.

The market breadth was strong. On the BSE, 1,989 shares rose and 1,616 shares fell. A total of 208 shares were unchanged.

Buzzing Index:

The Nifty Oil & Gas index gained 1.71% to 6,991.55. The index advanced 2.93% in three trading sessions.

Adani Enterprises (up 8.9%), Hindalco Industries (up 1.72%), NMDC (up 1.33%), Welspun Corp (up 1.3%), Steel Authority of India (up 1.18%), Hindustan Copper (up 0.55%), National Aluminium Company (up 0.44%), Vedanta (up 0.37%) and Tata Steel (up 0.32%) edged higher.

On the other hand, Jindal Stainless (down 2.37%), APL Apollo Tubes (down 1.71%) and Ratnamani Metals & Tubes (down 0.82%) edged lower.

Stocks in Spotlight:

Goldiam International rallied 8.24% after the company received export orders worth Rs 20 crore for diamond studded gold jewellery. The order for diamond studded gold jewellery includes 50% of orders of lab-grown diamonds jewellery. The said order will be executed on or before 31 December 2023.

KPI Green Energy rose 0.95% after the company said that its wholly owned subsidiary, Sun Drops Energia received new orders of 4.66 MW for executing solar power projects under captive power producer segment of the company.

Global Markets:

Most of the Asian stocks were trading lower on Tuesday, as investors remained convinced the US Federal Reserve was done with its rate-hike cycle and looked ahead to a crucial inflation report later this week.

Investors will focus this week on the Fed's preferred measure of inflation on Thursday and euro zone consumer inflation figures for further clarity on the where inflation is headed. Fed Chair Jerome Powell is due to speak on Friday. His words will be scrutinized by traders to gauge where rates may head.

European Central Bank President Christine Lagarde said on Monday the central bank's fight to contain price growth is not yet done, citing a still strong wage growth and an uncertain outlook even as inflation pressures in euro zone ease.

US stocks edged lower on Monday, with investors taking a post-Thanksgiving pause as the holiday shopping season kicked into high gear.

At 10.30 IST, the barometer index, the S&P BSE Sensex, was up 10.28 points or 0.02% to 65,980.32. The Nifty 50 index gained 24.95 points or 0.13% to 19,819.65.

In the broader market, the S&P BSE Mid-Cap index rose 0.06% while the S&P BSE Small-Cap index gained 0.31%. The S&P BSE Mid-Cap index and S&P BSE Small-Cap index hit an all time high of 40,069.26 and 33,731.14.

The market breadth was strong. On the BSE, 2,053 shares rose and 1,443 shares fell. A total of 199 shares were unchanged.

Buzzing Index:

The Nifty Oil & Gas index gained 1.54% to 8,286.55. The index slipped 0.22% in the past trading session.

Adani Total Gas Ltd (up 15.21%), Hindustan Petroleum Corporation Ltd (up 5.28%), Indian Oil Corporation Ltd (up 3.87%), Bharat Petroleum Corporation Ltd (up 3.08%) and Castrol India Ltd (up 1.71%), Gujarat State Petronet Ltd (up 0.9%), Gujarat Gas Ltd (up 0.62%), Petronet LNG Ltd (up 0.44%) and Oil & Natural Gas Corpn Ltd (up 0.11%) advanced.

On the other hand, Oil India Ltd (down 1.05%), Reliance Industries Ltd (down 0.62%) and GAIL (India) Ltd (down 0.44%) edged lower.

Stocks in Spotlight:

PTC India Financial Services slipped 2.03%. The firm has announced the resignation of Geeta Girdher, a senior management personal, from her role as Chief Compliance Officer (CCO). Girdher cited personal reasons for her resignation, which has been accepted by the board.

D B Realty advanced 2.45% after the company announced that its Promoter Group has sold shares worth Rs 301 crore for repaying related party transactions and unsecured interest free loan, thereby retiring the firms entire debt.

Netweb Technologies India jumped 8.08% after announcing collaboration with NVIDIA to advance AI and high-performance computing capabilities.

At 09:29 IST, the barometer index, the S&P BSE Sensex, was up 36.92 points or 0.06% to 66,006.96. The Nifty 50 index gained 30.90 points or 0.16% to 19,825.60.

In the broader market, the S&P BSE Mid-Cap index rose 0.14% while the S&P BSE Small-Cap index gained 0.20%. The S&P BSE Mid-Cap index and S&P BSE Small-Cap index hit an all time high of 40,069.26 and 33,731.14.

The market breadth was strong. On the BSE, 1,858 shares rose and 1,111 shares fell. A total of 147 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 2,625.21 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 134.46 crore in the Indian equity market on 24 November, provisional data showed.

Stocks in Spotlight:

Maruti Suzuki India rose 0.28%. The company has planned to increase the prices of its cars in January 2024 on account of increased cost pressure driven by overall inflation and increased commodity prices. While the company makes maximum efforts to reduce cost and offset the increase, it may have to pass on some increase to the market.

Tata Consultancy Services (TCS) added 0.24%. TCS has launched its AWS generative AI practice, to help customers harness the full potential of AI and AWS generative AI services to transform different parts of their value chain and achieve superior business outcomes.

PB Fintech advanced 1.55% after the company said that it has made further investment of Rs 349.99 crore in its wholly owned subsidiary, Policybazaar Insurance Brokers.

Newgen Software Technologies hit an upper circuit of 5% after the company announced that its board has approved to issue 1 bonus equity shares for each share held. The company has set record date as on Friday, 12 January 2024.

Numbers to Track:

The yield on India's 10-year benchmark federal paper fell 0.18% to 7.259 as compared with previous close 7.272.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.3750, compared with its close of 83.4000 during the previous trading session.

MCX Gold futures for 5 December 2023 settlement added 0.15% to Rs 61,635.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.06% to 103.14.

The United States 10-year bond yield advanced 0.45% to 4.407.

In the commodities market, Brent crude for January 2024 settlement rose 22 cents or 0.28% to $80.20 a barrel.

Global Markets:

Asian stocks were trading higher on Tuesday, as investors remained convinced the US Federal Reserve was done with its rate-hike cycle and looked ahead to a crucial inflation report later this week.

Investors will focus this week on the Fed's preferred measure of inflation on Thursday and euro zone consumer inflation figures for further clarity on the where inflation is headed. Fed Chair Jerome Powell is due to speak on Friday. His words will be scrutinized by traders to gauge where rates may head.

European Central Bank President Christine Lagarde said on Monday the central bank's fight to contain price growth is not yet done, citing a still strong wage growth and an uncertain outlook even as inflation pressures in euro zone ease.

US stocks edged lower on Monday, with investors taking a post-Thanksgiving pause as the holiday shopping season kicked into high gear.

At 14:25 IST, the barometer index, the S&P BSE Sensex, was up 13.53 points or 0.02% to 65,031.34. The Nifty 50 index gained 1.55 points or 0.01% to 19,803.55.

In the broader market, the S&P BSE Mid-Cap index rose 0.20% while the S&P BSE Small-Cap index gained 0.31%.

The market breadth was positive. On the BSE, 1,840 shares rose and 1,796 shares fell. A total of 139 shares were unchanged.

Buzzing Index:

The Nifty Media index rose 0.56% to 2,290.85. The index jumped 1.03% in two trading session.

Network 18 Media & Investments (up 1.64%), Zee Entertainment Enterprises (up 1.4%), Sun TV Network (up 1.35%), TV18 Broadcast (up 1.05%) and D B Corp (up 0.34%), PVR Inox (up 0.32%), Nazara Technologies (up 0.11%) advanced.

On the other hand, Dish TV India (down 3.19%), Hathway Cable & Datacom (down 0.25%) and Saregama India (down 0.05%) declined.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.37% to 7.280 as compared with previous close 7.253.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.3725, compared with its close of 83.3450 during the previous trading session.

MCX Gold futures for 5 December 2023 settlement added 0.09% to Rs 61,128.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.22% to 103.68.

The United States 10-year bond yield advanced 1.60% to 4.487.

In the commodities market, Brent crude for January 2024 settlement declined 56 cents or 0.68% to $81.40 a barrel.

The domestic equity barometers tumbled and traded with some losses in afternoon trade as selling in index pivotals intensified. The Nifty slipped below the 19,800 level after hitting the day?s high of 19,832.85 in early trade. Markets in Europe and Asia mostly traded lower on Friday.

At 13:26 IST, the barometer index, the S&P BSE Sensex, was down 86.66 points or 0.13% to 65,931.15. The Nifty 50 index lost 22.50 points or 0.11% to 19,779.50.

In the broader market, the S&P BSE Mid-Cap index rose 0.21% while the S&P BSE Small-Cap index gained 0.23%.

The market breadth was strong. On the BSE, 1,842 shares rose and 1,755 shares fell. A total of 148 shares were unchanged.

Stocks in Spotlight:

Siemens rose 0.11%. The company said that it has received order from Commissioner, CGST & Central Excise, Belapur Commissionerate imposing service tax liability and penalty aggregating of Rs 23.7 crore.

The order alleges that the firm has short paid the liability of service tax to the extent of service tax payable on difference in values disclosed in financial statements and service tax returns during FY 2008-09, FY 2010-11 and FY 2011-12. The said order also mentions about the levy of appropriate interest and penalty amounting to Rs 23.68 crore under section 78 of Finance Act,1994.

Axita Cotton added 2.59%. The company?s board recommended the issuance of bonus equity shares in the ratio of 1:3, subject to the approval of shareholders.

Hazoor Multi Projects hit an upper limit of 10%. The company said it secured a contract for rehabilitating and upgrading a segment of NH-66 in Maharashtra.

The work has been awarded to Hazoor Infra Projects, which is a wholly owned subsidiary of Hazoor Multi Projects and the new concessionaire for the project. The project, valued at approximately Rs 1,129.81 crore, is set to be executed on a Hybrid Annuity Mode in Ratnagiri district under NHDP-IV. It

Suprajit Engineering added 0.66%. The auto components maker said that it has made an outright purchase of industrial property with land measuring 1,75,000 sq.ft along with buildings measuring 70,000 sq.ft located at Jigani Industrial Area.

Suprajit Technology Center (STC) is in an advanced stage of negotiating with customers on certain 'Beyond Cables? projects which are expected to be housed in this facility, once all infrastructure updates are done and these new contracts are won, the company added.

Global Markets:

European markets opened lower as investors in the region digested the GDP figures released by Germany earlier in the day.

Final German gross domestic product figures for the third quarter on Friday confirmed an earlier reading of 0.1% month-on-month contraction. GDP was down 0.8% on the previous year.

Investors will also be monitoring a speech by European Central Bank President Christine Lagarde due mid-morning.

Meanwhile, Asian stocks were trading mixed as investors assess key economic data out from Japan on Friday.

The world?s third largest economy saw its core inflation rate rise to 2.9% in October, higher than the 2.8% seen in September. The headline inflation rate for October came in at 3.3%, accelerating from the 3% seen in from the month before.

US stocks were closed for Thanksgiving on Thursday and will come back for a half day of trading on Friday.

The influential oil group reuniting the Organization of the Petroleum Exporting Countries and its allies will hold a virtual meeting to decide crude production strategy on November 30, the OPEC Secretariat said. The group, collectively known as OPEC+, was supposed to convene in person in Vienna over November 25-26 but has since postponed its meeting amid inter-member disgruntlement.

At 12:30 IST, the barometer index, the S&P BSE Sensex, was down 8.96 points or 0.01% to 66,008.85. The Nifty 50 index added 2.60 points or 0.01% to 19,805.90.

In the broader market, the S&P BSE Mid-Cap index rose 0.36% while the S&P BSE Small-Cap index gained 0.34%.

The market breadth was strong. On the BSE, 1,958 shares rose and 1,597 shares fell. A total of 157 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 1.36% to 11.16. The Nifty 30 November 2023 futures were trading at 19,849, at a premium of 43.1 points as compared with the spot at 19,822.

The Nifty option chain for the 30 November 2023 expiry showed maximum Call OI of 96.8 lakh contracts at the 19,800 strike price. Maximum Put OI of 123.1 lakh contracts were seen at 19,800 strike price.

Buzzing Index:

The Nifty Metal index added 0.75% to 6,879.35. The index rose 1.28% in two trading sessions.

Hindustan Copper Ltd (up 2.96%), NMDC Ltd (up 2.44%), Hindalco Industries Ltd (up 1.8%), National Aluminium Company Ltd (up 1.37%), APL Apollo Tubes Ltd (up 1.22%), JSW Steel Ltd (up 1.18%), Jindal Steel & Power Ltd (up 0.92%), Adani Enterprises Ltd (up 0.49%), Jindal Stainless Ltd (up 0.44%) and Hindustan Zinc Ltd (up 0.25%) advanced.

Stocks in Spotlight:

Gland Pharma gained 3.25% after the company announced conclusion of US Food and Drug Administration (USFDA) inspection at Pashamylaram Facility in Hyderabad.

RailTel Corporation of India fell 0.26%. The firm announced on Thursday that it has received a work order from Gujarat Informatics aggregating Rs 52.87 crore.

Indian Hotels declined 0.35%. The company said that it has invested Rs 90 crore in its wholly owned subsidiaries (WOS) by way of subscription to rights issues.