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November 28, 2022 / 04:33 PM IST

Closing Bell: Sensex, Nifty end at record closing high led by oil & gas stocks; metals drag

Except metal, all other sectoral indices ended in the green with oil & gas up 1.5 percent.

  • Closing Bell: Sensex, Nifty end at record closing high led by oil & gas stocks; metals drag
    Moneycontrol.com
    HIGHLIGHTS
    • 03:28 PM IST

      Macquarie initiates with underperform rating on Container Corporation of India

    • 03:21 PM IST

      Arvind SmartSpaces sells entire 1st phase of Arvind Greatlands in 10 hours

    • 03:19 PM IST

      Dharmaj Crop Guard IPO fully subscribed on day 1

    • 03:10 PM IST

      Citi resumes coverage on L&T with buy call and target at Rs 2,465

    • 03:02 PM IST

      SR Technics partners with HCL Tech to digitally transform business operations

    • 02:55 PM IST

      Dharmaj Crop Guard IPO subscribed 96% on debut

    • 02:41 PM IST

      Garnules India India CFO Sandip Neogi resigns

    • 02:39 PM IST

      Nomura maintains 'Buy' rating on VA Tech Wabag, target raised to Rs 480

    • 02:11 PM IST

      Mark Mobius sees Bitcoin down at $10,000 in ‘dangerous’ crypto market

    • 02:07 PM IST

      Dharmaj Crop Guard IPO subscribed 89% on debut, retail portion booked 1.34 times

    • 01:51 PM IST

      TARC gets Occupation Certificate for premium residential project in Gurugram

    • 01:44 PM IST

      Gold dips as dollar ticks up on China COVID risks

    • 01:39 PM IST

      JK Cement increases cement grinding capacity of 2 MTPA

    • 01:28 PM IST

      Nifty Energy index gains 1.5 percent supported by the BPCL, Reliance Industries, IOC

    • 01:25 PM IST

      TIL decides to bring in Indocrest Defence Solutions as strategic investor

    • 01:16 PM IST

      Dharmaj Crop Guard IPO subscribed 74% on debut, retail portion fully booked

    • 01:08 PM IST

      Techno Electric & Engineering Company wins orders worth Rs 700 crore

    • 01:05 PM IST

      Nifty hits life time high, Sensex gains 380 points; RIL, ICICI Bank positive contributors

    • 12:45 PM IST

      BSE Midcap index rises 0.6 percent led by the Indian Railway Finance Corporation, HPCL, The New India Assurance Company

    • 12:27 PM IST

      Dharmaj Crop Guard IPO subscribed 45% on debut, retail portion booked 79%

    • 12:25 PM IST

      Aditya Birla Fashion partners with 8 Digital-first Lifestyle Brands

    • 12:23 PM IST

      BSE Smallcap index rises 0.7 percent led by the MSTC, Ramco Systems, Tanla Platforms

    • 12:21 PM IST

      Ami Organics signs definitive multi-year, multi-tonne agreement with Fermion

    • 12:14 PM IST

      BNP Paribas Arbitrage buys Rs 42 crore worth shares in Venus Pipes

    • 12:06 PM IST

      Indian Bank Loan Growth to Remain Strong as Rates Rise

    • 12:02 PM IST

      Nifty nears record high, Sensex gains 280 pts; RIL, HDFC Bank, IRFC most active

    • 11:53 AM IST

      Bajaj Finance to purchase up to 40% in Snapwork Technologies for Rs 93 crore

    • 11:46 AM IST

      Shriram Transport Finance Corporation board to consider fundraising via NCDs

    • 11:43 AM IST

      Muthoot Finance to raise Rs 300 crore via NCDs

    • 11:40 AM IST

      BSE Information Technology index up 1 percent led by the Ramco Systems, Tanla Platforms, Kellton Tech Solutions

    • 10:43 AM IST

      Dharmaj Crop Guard IPO subscribed 10% on debut, retail portion booked 18%

    • 10:37 AM IST

      RIL rises as refining margins seen recovering

    • 10:25 AM IST

      Lemon Tree Hotels to open new hotel in Jamshedpur, to be operational by September 2023

    • 10:05 AM IST

      Indian Oil Corporation raises Rs 2,500 crore via NCDs

    • 10:00 AM IST

      I-T Department conducts survey at Gateway Distriparks' office and some locations

    • 10:00 AM IST

      Metal index sheds 1 percent dragged by Hindalco Industries, Jindal Steel, Vedanta

    • 09:46 AM IST

      Shriram Properties arm buys real estate company in Bangalore

    • 09:43 AM IST

      Nifty Auto index up 1 percent supported by the Hero MotoCorp, MRF, Tube Investments of India

    • 09:42 AM IST

      BSE Oil & Gas index up 1 percent led by the HPCL, BPCL, IOC

    • 09:38 AM IST

      Indian Energy Exchange gets board approval for Rs 98 crore worth share buyback

    • 09:32 AM IST

      Va Tech Wabag to get Rs 200 crore from ADB via issuance of NCDs

    • 09:26 AM IST

      I-T department conducted survey of Snowman Logistics' Mumbai warehouse & office

    • 09:24 AM IST

      Hero MotoCorp shares gains as company to hike 2-wheeler prices from December

    • 09:04 AM IST

      Above 18,604, Nifty would steadily inch up towards 19,000: Siddhartha Khemka

    • 09:01 AM IST

      Benchmark Indices are expected to open on a subdued note today: Mohit Nigam

    • 08:58 AM IST

      SBI reports highest profit, broking houses lauding us: Chairman

    • 08:54 AM IST

      JP Morgan sees global bond yields dipping in 2023

    • 08:44 AM IST

      Expect Nifty to scale 18,700 first and then to a new milestone of 19,000: Ajit Mishra

    • 08:26 AM IST

      Cosmo First to consider share buyback on December 1

    • 08:23 AM IST

      Zydus Life receives tentative approval from the USFDA for Levothyroxine Sodium for Injection

    • 08:21 AM IST

      Adani arm seeks licence to expand power distribution in Mumbai including JNPT

    • 08:13 AM IST

      RBI refuses to grant Paytm licence as payment aggregator, asks company to reapply

    • 08:13 AM IST

      Hero MotoCorp to hike prices of motorcycles, scooters from December 1

    • 08:08 AM IST

      FPIs buy shares worth Rs 31,630 crore in November

    • 08:03 AM IST

      HFCL gets contract aggregating to Rs 1,770 crore from SWSM

    • 07:56 AM IST

      Gold prices edge lower on firmer dollar

    • 07:51 AM IST

      Max Financial gets IRDAI approval to acquire residual 5.17% stake of Mitsui Sumitomo in Max Life

    • 07:43 AM IST

      Dharmaj Crop Guard IPO opens today for subscription

    • 07:37 AM IST

      Nasdaq ends down as investors eye Black Friday sales, China infections

    • 07:36 AM IST

      Oil edges lower with China unrest rippling through world markets

    • 07:32 AM IST

      Asian markets are trading in the red with Hang Seng down 4%, Kospi, Shanghai Composite down 1% each

    • 07:27 AM IST

      SGX Nifty indicates a negative start for the Indian indices

  • IndexPricesChangeChange%
    Sensex60,702.2038.41 +0.06%
    Nifty 5017,866.10-5.60 -0.03%
    Nifty Bank41,386.55-151.10 -0.36%
    Nifty 50 17,866.10 -5.60 (-0.03%)
    Thu, Feb 09, 2023
    Biggest GainerPricesChangeChange%
    Bajaj Finance6,476.45124.80 +1.96%
    Biggest LoserPricesChangeChange%
    Adani Enterpris1,952.75-211.50 -9.77%
    Best SectorPricesChangeChange%
    Nifty IT30820.7046.70 +0.15%
    Worst SectorPricesChangeChange%
    Nifty Metal5885.70-89.45 -1.50%


  • November 28, 2022 / 04:32 PM IST

    Shrikant chouhan, Head of equity research (retail), Kotak Securities:

    The benchmark indices held the positive momentum, the nifty ends 50 points higher while the Sensex was up by 211 points. Among sectors, Oil and Gas and Energy indices rallied most whereas Metal stocks corrected sharply as a result Metal index shed over 1 percent.

    On the backdrop of weak market conditions our market opened with a red but after early morning correction it bounce back sharply. Higher bottom formation on intraday charts indicating continuation of uptrend in the near future.

    For the trend following traders now 18,400-18,350/62,200-62,000 would be the sacrosanct support zones. Above which the index may hit the fresh all time high or 18,605-18,650/62,750-63,000. On the flip side, below 18,350/62,000 uptrend would be vulnerable. Below the same, traders may prefer to exit out from the trading long positions.

  • November 28, 2022 / 04:27 PM IST

    Ajit Mishra, VP - Technical Research, Religare Broking

    Markets extended the prevailing trend and posted modest gains amid mixed cues. Weakness in the global markets triggered a weak start however the Nifty index recovered in no time and inched gradually higher as the session progressed. It finally made a new record high but profit taking in the last hour trimmed the gains. Consequently, it closed 18,562.70 levels; up by 0.3%. Meanwhile, the sectoral indices traded mixed wherein energy and auto were the top gainers while metal, IT and banking traded subdued.

    We may see some consolidation in markets amid mixed global cues however the bias would remain on the positive side. Participants should utilise the phase to add quality names, especially from banking, IT and auto space. Besides, they may consider selective bets from the midcap and smallcap citing the recent participation.

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  • November 28, 2022 / 04:21 PM IST

    Mohit Nigam, Fund Manager & Head - PMS, Hem Securities:

    Benchmark Indices ended on a positive note after Nifty 50 scaled an all-time high of 18,614.25 in spot markets. Nifty 50 closed +0.27% and Sensex closed +0.34% up today.

    Good buying was witnessed in Tyres, Auto and Defence counters while the Bank Nifty saw some profit taking. Oil marketing companies showed gains on account of fall in crude prices. BPCL and Reliance were top gainers while Hindalco and JSW Steel were top losers in Nifty 50 today.

    Overall domestic markets are moving from strength to strength amid global macro concerns and we believe that Indian markets can continue to outperform global indices backed by strong corporate earnings and healthy demand. Currently IT, Auto and banking sector look well poised to us.

    On the technical front, immediate support and resistance in Nifty50 are 18,450 and 18,650 respectively. Immediate support and resistance in Bank Nifty are 42,500 and 43,350 respectively.

  • November 28, 2022 / 04:09 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services.

    Despite unfavourable global cues, the domestic market reversed its early losses to trade at record highs. Following the decline in oil prices, oil & gas stocks led the rally in anticipation of margin gains, as ongoing protests in China fuelled demand concerns.

    Going ahead, global markets will depend on Powell’s speech on Wednesday, which is crucial in maintaining the momentum, as the market seems to have factored in a moderation in the pace of rate hike.

  • November 28, 2022 / 04:02 PM IST

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

    The Nifty opened gap down today, only to attract buying support at lower levels. The index opened right into the support zone of the key hourly moving averages from where the index recovered swiftly.

    It went on to cross the all-time high of 18,604 & registered a new high of 18,614.

    Structurally, the index is forming extension on the upside. Thus the zone of 18,400-18,360 will continue to act as a crucial support area.

    As long as the index stays above this zone, it can stay on the upward trajectory from a short term perspective. Subsequent targets on the upside will be 18,700 & 19,000.

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  • November 28, 2022 / 03:59 PM IST

    Lakshmi Iyer, CEO- Investment Advisory, Kotak Investment Advisors 

    Sentiment and flows currently are acting as a strong catalyst for the markets which touched an all-time high. We are seeing domestic as also foreign investors being net buyers of equity aiding the momentum.

    Here on one needs to be balanced as most of the positives are in the prices for now. Incremental allocations to equities could be done in a staggered manner as opposed to lump sum investments.

  • November 28, 2022 / 03:49 PM IST

    Hemant Kanawala, Executive Vice President & Head Equity, Kotak Mahindra Life Insurance Company



    Although markets have touched new highs, the valuations have normalized over past one year as earnings have rolled forward. The prospects for Indian markets remain bright over medium term as structural growth drivers for Indian economy are intact and India’s macroeconomic parameters remain resilient against challenges in the global economy.

    Meanwhile, equity investors should remain invested and increase equity allocation on correction.

  • November 28, 2022 / 03:48 PM IST

    Srikanth Subramanian, CEO, Kotak Cherry

    Indian markets are defying global weakness and touching all-time high. This is on back of renewed interest from FIIs as Indian decoupling story continues to play out. However, one must also realize that as we continue to see better growth rates than world, our valuations too are priced at those premiums.

    Even long term investors at this point should not betray discipline. One should ideally avoid any extreme movements and stick to the core asset allocation that one has defined for oneself.

  • November 28, 2022 / 03:40 PM IST

    Pankaj Pandey, Head – Research, ICICIdirect:

    Nifty at life time high is a function of multiple factors such as resilient corporate earnings in Q2FY23, robust GST numbers (at 6 months high in October, 2022) and retail inflation slowing to a three-month low in October, 2022 at 6.77%, led by softening food and commodity prices.

    Globally, US has also found comfort in its recently released lower than expected inflation readings with growing expectations of a decline in pace of interest rate hikes by Fed, amid already existing growth concerns.

    Furthermore, with ~20% decline in crude prices in the last fortnight, further relief is likely in inflation, going ahead. We continue to remain constructive on the Indian equities. Over FY22-24E, Nifty earnings are seen growing at a CAGR of ~15%. Our 12- month forward Nifty target is at 20,000 (i.e. 21x PE on FY24E) with corresponding Sensex target of 66,600.

    As structural bets, we like the banking space, capex linked capital goods, domestic consumption plays including autos.

  • November 28, 2022 / 03:36 PM IST

    Rupee Close:

    Indian rupee closed flat at 81.66 per dollar against previous close of 81.68.

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  • November 28, 2022 / 03:30 PM IST

    Market Close:

    Indian benchmark indices ended on positive note on November 28 with Sensex, Nifty finishing at record closing levels.

    At Close, the Sensex was up 211.16 points or 0.34% at 62,504.80, and the Nifty was up 50 points or 0.27% at 18,562.80. About 2024 shares have advanced, 1458 shares declined, and 185 shares are unchanged.

    BPCL, Reliance Industries, Hero MotoCorp, Tata Consumer Products and SBI Life Insurance were among the top Nifty gainers, while losers included Hindalco Industries, JSW Steel, Apollo Hospitals, Tata Steel and Bharti Airtel.

    Except metal, all other sectoral indices ended in the green with oil & gas up 1.5 percent.

    BSE Midcap and Smallcap indices added 0.7 percent each.

  • November 28, 2022 / 03:28 PM IST

    Macquarie initiates with underperform rating on Container Corporation of India

    -Initiate with underperform rating, target at Rs 620 per share
    -Delayed completion of freight corridor to JNPT will impact volume growth
    -Market share loss & pricing pressures would offset DFC gains in near term
    -Divestment of government’s stake will be key catalyst

    Container Corporation of India was quoting at Rs 764.85, up Rs 2.40, or 0.31 percent.