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November 27, 2020 / 03:36 PM IST

Closing Bell: Sensex, Nifty end lower amid volatility; auto stocks zoom

On the sectoral front, auto and PSU bank indices added 1 percent each, while some selling seen in the infra, IT and energy stocks. BSE Midcaps and Smallcap indices rose 2 percent each.

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  • November 27, 2020 / 04:36 PM IST

    Ajit Mishra, VP - Research, Religare Broking:

    Markets traded choppy throughout the session and ended with marginal losses. After starting on a flat note, the benchmark hovered in a range till the end. Meanwhile, movement in the broader market kept the participants busy. Amid all, Nifty could manage to settle near 12,969 levels, down by 0.1%. However, a mixed trend was witnessed on the sectoral front wherein consumer durables, realty and auto pack posted decent gains while oil&gas, IT and telecom ended in the red. The broader markets outperformed as midcap and smallcap ended with gains in the range of 1.5-2.4%.

    Markets will first react to the GDP numbers next week. Besides, the auto sales numbers and upcoming RBI policy meet would be on their radar. We expect prevailing consolidation to continue in the index however there’ll be no shortage of trading opportunities in broader markets. Traders should maintain a “buy on dips” approach while keeping their focus on the selection of sectors and stocks.

  • November 27, 2020 / 04:36 PM IST

     Joseph Thomas, Head of Research - Emkay Wealth Management:
     
    The markets remained volatile, throughout the day, with the large cap indexes continued to be stalled, and closed with losses, with the IT and Oil& Gas indexes too in the red.. Interestingly, the mid- caps and the small caps put up a good show with gains bordering on  1.90 % and 2.40 % respectively. One of the factors which the market is eagerly looking forward to, for likely direction, is the GDP numbers which is expected to be released later this evening.

  • November 27, 2020 / 03:57 PM IST

    Vinod Nair, Head of Research at Geojit Financial services:

    Today’s market momentum was driven by uncertainty related to efficacy of Covid vaccine and expectation of Q2 GDP data. Although GDP is expected to improve compared to the previous quarter, the recovery in Indian economy is likely to be lower in comparison to its global peers. Recently, broader markets are outperforming main benchmark showing a shift in demand to mid & small cap. From these high levels, for the market to stay resilient and midcaps to outperform, the economy has to normalize and more stimulus has to be announced, which will take some more time based on the government’s plan and availability of vaccine.

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  • November 27, 2020 / 03:57 PM IST

    Ashis Biswas, Head of Technical Research, CapitalVia Global Research Limited- Investment Advisor:

    A lackluster trend to continue in the market and an attempt to overcome the resistance level around the Nifty 50 Index level of 13040. While a breakout above 13040 is the key factor from a short-term perspective. Anything above this level market to gain momentum, that could lead to an upside projection till 13130-13140 level. The momentum indicators like RSI, MACD to further strengthen in favor of positive outlook and advise the traders to consider a breakout above 13040 as an opportunity to build fresh long.

  • November 27, 2020 / 03:50 PM IST

    Dr. M. Govinda Rao, Chief Economic Advisor, Brickwork Ratings:

    We had estimated the contraction in the second-quarter GDP at about 13.5 percent. The leading indicators of the economy did not record significant recovery until September. The trade, hotels and transport sectors did not show much recovery. Recovery in the construction sector was patchy due to the non-availability of migrant labour; manufacturing suffered from both labour shortage and supply disruptions.

    Floods in many parts of the country created disruptions in the farm sector, and government expenditure was stagnant. Thus, although the relaxation of the lockdown resulted in an improvement in economic activity to some extent, the capacity utilisation continued to be low.

  • November 27, 2020 / 03:45 PM IST

    Mohit Ralhan, Managing Partner & CIO, TIW Private Equity:

    The expectation is of a contraction of 8.8% in September quarter. But RBI has indicated towards stronger than expected pick up of the economy and our experience on the ground has also been the same. I will not be surprised if the contraction comes to be lower. Anyways, we are expecting a strong recovery in the next financial year.

  • November 27, 2020 / 03:41 PM IST

    Sanjeev Zarbade, VP PCG Research, Kotak Securities:

    The BSE-30 Index gained 0.7% in the past week. The market remained buoyant on expectations of sharp earnings recovery led by earlier-than-expected deployment of Covid-19 vaccines and easy monetary policies. Bajaj Finserv, ONGC and Tata Steel were among the major gainers while HDFC, L&T and Reliance Industries were among the major losers in the BSE-30 Index in the past week. FPIs bought equities worth USD 2.05 bn over the past five trading sessions while DIIs sold USD 1.8 bn worth of equities in the same period. Advice for investors will be to buy quality stocks on declines.

  • November 27, 2020 / 03:41 PM IST

    Jateen Trivedi, Senior Research Analyst (Commodity & Currency) at LKP Securities:

    Gold trades neutral on a range trade in Spot at $1811-1805 & in MCX at 48500 approx. Gaining just about 60 points in MCX as long weekend thanksgiving holiday kicked in from Thursday. Softer dollar index and rising concerns over partial lockdowns in Euro and rising covid-19 numbers in US remains a concern along with positive vaccine update keeping currency & bullion in muted trades.

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  • November 27, 2020 / 03:36 PM IST

    Market Close: Benchmark indices ended lower in the highly volatile session on November 27. 

    At close, the Sensex was down 110.02 points or 0.25% at 44,149.72, and the Nifty was down 18 points or 0.14% at 12,969. About 1717 shares have advanced, 1039 shares declined, and 172 shares are unchanged.

    Britannia, Asian Paints, Tata Motors, Hero MotoCorp and Titan Company were among major gainers on the Nifty, while losers included Power Grid Corp, JSW Steel, ONGC, HCL Tech and HDFC Life.

    On the sectoral front, auto and PSU bank indices added 1 percent each, while some selling seen in the infra, IT and energy stocks. BSE Midcaps and Smallcap indices rose 2 percent each.

  • November 27, 2020 / 03:26 PM IST

    Jateen Trivedi, Senior Research Analyst (Commodity & Currency) at LKP Securities:

    Rupee traded muted by afternoon trade Friday tracking the dollar index muted trades. Thanksgiving holiday days keep dollar prices in a range moves. The range of 73.90 - 74.50 can continue due to major update yet to be announced in terms of US stimulus package. Indian GDP number awaited in the evening can provide some support to rupee as expectation are positive compared to QoQ.

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