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November 29, 2021 / 04:08 PM IST

Closing Bell: Market ends higher amid volatility; realty, PSU bank drag, IT shines

Except IT, all other sectoral indices ended lower with pharma, power, realty, oil & gas, PSU bank down 1-2 percent. The BSE midcap and smallcap indoces fell 1-2 percent.

  • IndexPricesChangeChange%
    Sensex57,960.381,171.57 +2.06%
    Nifty 5017,242.25354.90 +2.10%
    Nifty Bank39,081.251,051.60 +2.77%
    Nifty 50 17,242.25 354.90 (2.10%)
    Tue, Oct 04, 2022
    Biggest GainerPricesChangeChange%
    Adani Ports821.6037.20 +4.74%
    Biggest LoserPricesChangeChange%
    Power Grid Corp208.60-2.20 -1.04%
    Best SectorPricesChangeChange%
    Nifty Bank39091.401061.75 +2.79%
    Worst SectorPricesChangeChange%
    Nifty Pharma13208.2089.25 +0.68%

  • November 29, 2021 / 04:36 PM IST

    Ajit Mishra, VP - Research, Religare Broking:

    Markets ended almost unchanged amid volatility, taking a breather after the recent fall. After the weak start, the benchmark gradually recovered as the day progressed, thanks to the rebound in index majors from across the board. However, the profit taking at higher levels capped the upside till the end. 

    Amid all, the broader markets underperformed wherein midcap and small cap ended lower by 1.4% and 2.7% respectively. Amongst the sectors, realty, oil & gas and pharma were the top losers while the IT index gained nearly a percent.  
    We expect choppiness to remain high citing the prevailing uncertainty around the new COVID variant. Besides, on the domestic front, macroeconomic data like GDP numbers, core sector data and auto sales figures will further add to the volatility. We reiterate our cautious stance and suggest preferring hedged positions. 

  • November 29, 2021 / 04:35 PM IST

    Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities:

    Markets saw a roller coaster ride intra-day but eventually ended on the higher side. Investors are trading with caution, especially after reports of a rising threat of a new South African coronavirus variant. After an early morning intraday selloff, Nifty found support near 16780 and reversed sharply, but once again it failed to close above the 100 days SMA. 

    On daily and intraday charts, the index has maintained a lower top series formation which is broadly negative. However, on the intraday chart, the index is consistently taking support in the range of 16950-16970 levels. 

    For day traders, Nifty has support at 16950, and above the same, a pullback rally could lift the index up to 100 day SMA or 17115. If the move continues, the index may rise up to 17200. On the flip side, the dismissal of 16950 could possibly open one more correction leg up to 16830-16780 levels.

  • November 29, 2021 / 04:33 PM IST

    Mohit Nigam, Head - PMS, Hem Securities 

    On the technical front 16850 and 17300 are immediate support and resistance levels for Nifty50 and for Bank Nifty immediate support and resistance levels are 35500 and 36500.

  • November 29, 2021 / 04:32 PM IST

    Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas

    The Nifty witnessed selling pressure in the beginning of the session on November 29. However the selling pressure abated as the index inched towards 61.8% retracement of the July – Oct rally. 

    The bulls rushed in near the key Fibonacci level as well as near lower end of a dynamic falling channel. Consequently the index recovered & defended the 17000 mark on a closing basis. 

    At the end of the day, the index formed a Doji pattern on the daily chart, which makes today’s low of 16782 a key support. Structurally, the Nifty looks poised for a recovery as long as it trades above this low of 16782. On the higher side, 17200-17300 will be the initial levels to watch out for.

  • November 29, 2021 / 04:00 PM IST

    Rohit Singre, Senior Technical Analyst at LKP Securities:

    Index closed a day at 17054 with minimal gains and formed a Doji candle pattern on the daily chart which represents indecision in the markets. 

    Immediate support for Nifty is coming near 16930-16800 zone and on the higher side index has stiff hurdle around 17150-17270 zone, also one can look for trimming their longs around mentioned resistance zone.

    Overall strength will come only above 17350 zone & until trading below 17350 levels, we may see sell on rise structure intact.

  • November 29, 2021 / 03:42 PM IST

    Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    The Nifty has closed marginally above the 17000 level but that is hardly any solace - the trend in the short term continues to be negative. 

    We resisted at the 17150 level and turned from there. If the 17000 mark gets disrespected, we could fall to 16500 which is the next level of support.

  • November 29, 2021 / 03:39 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services:

    Domestic indices trimmed its early losses to trade modestly higher backed by IT and healthcare stocks, amid lingering worries over the emergence of the new covid variant. 

    Global markets traded mixed as investors were torn between buying on dips and the uncertainties over the impact of Omicron on economic recovery. 
    However, the global market has factored well the near-term uncertainty limiting further downside. On the domestic front, the telecom sector was in focus as all sector majors reported a rate hike, signalling an end to the low tariff regime.

  • November 29, 2021 / 03:34 PM IST

    Market Close: Benchmark indices ended on positive note in the volatile session on November 29 with Nifty closing above 17,000

    At close, the Sensex was up 153.43 points or 0.27% at 57,260.58, and the Nifty was up 27.50 points or 0.16% at 17,054.00. About 875 shares have advanced, 2337 shares declined, and 142 shares are unchanged.

    Kotak Mahindra Bank, HDFC Life, HCL Technologies, TCS and Wipro were among the major gainers on the Nifty. The losers included BPCL, Sun Pharma, UPL, ONGC and Adani Ports.

    Except IT, all other sectoral indices ended lower with pharma, power, realty, oil & gas, PSU bank down 1-2 percent. The BSE midcap and smallcap indices fell 1-2 percent.

  • November 29, 2021 / 03:28 PM IST

    KRChoksey view on Star Health and Allied Insurance Company IPO

    We believe that the company's long-term prospects are promising. Retail health insurance will be a key growth driver for the Indian health insurance business in the near term. 

    Given the growth prospects for the retail health insurance sector and the company's position as the market leader in the SAHI sector, the company's current valuation looks reasonable. 

    As a result, we recommend that the Star Health and Allied Insurance Company IPO be rated 'Subscribe.

  • November 29, 2021 / 03:23 PM IST

    Welspun Corp has acquires entire share capital of Mahatva Plastic Products

    Welspun Corp has acquired entire share capital of Mahatva Plastic Products and Building Materials, a newly incorporated company with objects of Polymer products business, from an unrelated party at a consideration of Rs 10,000 with an intention to make it a Special Purpose Vehicle for organic / inorganic growth.

    Welspun Corp touched a 52-week high of Rs 175.45 and was quoting at Rs 172.80, up Rs 2.90, or 1.71 percent on the BSE.

  • November 29, 2021 / 03:19 PM IST

    India Ratings upgrades rating of Capacite Infra to BBB from D

    India Ratings & Research (lnd-Ra) has upgraded the credit rating assigned to Capacite Infraprojects long term issuer rating to 'IND BBB'from 'IND D'. The outlook stable.

    Capacite Infraprojects was quoting at Rs 170.25, down Rs 2.05, or 1.19 percent.

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