Closing Bell: Sensex gains, Nifty above 20,100 on expiry day; pharma, realty shine

Indian benchmark indices ended higher in the volatile expiry session on November 30 with Nifty above 20,100. At close, the Sensex was up 86.53 points or 0.13 percent at 66,988.44, and the Nifty was up 36.60 points or 0.18 percent at 20,133.20.

We wrap up today's edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices/ for all the global market action.

Prashanth Tapse, Senior VP (Research), Mehta Equities:

Markets were volatile on the expiry day, but Dow Jones Futures indicating positive start for US markets and gains in other Asian indices helped local markets clock modest gains at close. However, caution prevailed amongst the investors ahead of the exit poll results of five states later today, and the market could see a knee-jerk reaction in the next trading session.

Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities:

The Bank Nifty index experienced heightened volatility on the last day of the monthly expiry, navigating a broad trading range. Facing immediate resistance at 44700, a level associated with a previous correction, a breakout above this point is anticipated to trigger additional short-covering moves towards 45000. The lower end support is situated at the 44300-44200 zone, acting as a supportive cushion for the bulls.

Ajit Mishra, SVP - Technical Research, Religare Broking:

Market traded volatile on the monthly expiry day and ended marginally in the green. After the flat start, Nifty oscillated in a narrow range for most of the session and finally settled around the upper band of the same. Meanwhile, a mixed trend on the sectoral front and rollover of derivatives positions kept the traders busy wherein realty and pharma pack put up a good show. Besides, the market breadth was also inclined on the advancing side, thanks to outperformance by the midcap and smallcap counters.

We have almost reached the record high now after three days of advance and may take a breather now. However, rotational buying across sectors would keep the tone positive. We thus suggest utilizing an intermediate pause or a dip to add quality names.

Vinod Nair, Head of Research at Geojit Financial Services:

India’s GDP growth upgrade to 6.4% from 6.0% for FY24 by S&P Global Rating has bought optimism to the broad market. The Nifty50 could cross the psychological level of 20,000 and be able to sustain the gains providing long-term support. Bold performance of the global markets and IPOs listing are adding glitters to mid & small caps. State exit poll and the final result slated to be announced on Sunday may bring some cautiousness.

Rupak De, Senior Technical Analyst at LKP Securities:

Nifty ended close to the day's high on a choppy expiry day. The sentiment remains strong as long as it stays above 20000 since the Put writers at the 20000 strike will defend this level moving forward.

The sentiment might weaken only if there's a drop below 20000; until then, the buy-on-dips strategy is likely to stay prevalent. On the higher side, 20200-20230 acts as a resistance zone. If breached, the index could potentially move towards 20450-20500.

Deven Mehata, Research Analyst at Choice Broking:

After a flat opening Nifty traded volatile on the monthly expiry day but managed to close near day’s high at 20133. On Bank Nifty the pressure was seen today where the index closed negative but has managed to close near 44500 levels.

The Sensex gaining 0.13 percent and closed at 66988.44 and Nifty was up by 0.18 percent intraday and closed at 20133.15 levels whereas Bank Nifty was down by 0.19 percent and settled at 44481.75.

Among sectors Nifty Auto, Nifty Pharma and Nifty FMCG ended in green while Nifty PSU Bank, Nifty IT and Nifty PVT Bank ended on the lower side. In Nifty stocks, UltraTech Cement, Bharti Airtel and HDFC Life were the top gainers while Adani Enterprise, Adani Ports and IndusInd Bank were the prime laggards.

INDIA VIX was negative by 0.16 percent intraday and settled at 12.69.

Index has a support around 20050-20100 zone.

Coming to the OI (Open Interest) Data, on the call side, the highest OI observed at 20400 followed by 20300 strike prices while on the put side, the highest OI is at 20000 strike price. On the other hand, Bank nifty has support at 44100-43900 while resistance is placed at 44900-45000 levels.

Aditya Gaggar Director of Progressive Shares

With an extreme swing on both sides, Nifty50 settled the monthly expiry day higher at 20,133.15 with gains of 36.55 points. Sector-wise, Realty and Pharma were the outperformers; and on the flip side, PSU Banking sector was the major laggard.

The interest of the market participants was more towards the broader markets as Mid and Smallcap ended the session with gains of 0.68% & 1.14% respectively and outperformed the Frontline Index. In the higher top higher bottom formation, the index has made a bullish candle which suggests that a fresh could be seen in the coming days.

Rupee Close:

Indian rupee ended marginally lower at 83.39 per dollar on Thursday against Wednesday's close of 83.32.

Market Close:

Benchmark indices ended higher in the volatile session on November 30 with Nifty above 20,100.

At close, the Sensex was up 86.53 points or 0.13 percent at 66,988.44, and the Nifty was up 36.60 points or 0.18 percent at 20,133.20. About 1838 shares advanced, 1752 shares declined, and 130 shares unchanged.

UltraTech Cement, HDFC Life, Sun Pharma, Apollo Hospitals and Eicher Motors were among top gainers on the Nifty while losers were IndusInd Bank, Adani Enterprises, Adani Ports, Reliance Industries and Power Grid Corporation.

On the sectoral front PSU Bank index down 1.5 percent, while pharma, capital goods, realty and oil & gas indices added 1-1.5 percent each.

BSE Midcap index gained 0.8 percent and smallcap index rose 1 percent.

Stock Market LIVE Updates | Jefferies View On Global Health

-Buy call, target Rs 1,000 per share
-Investors acknowledged the strong performance from Medanta post listing
-Strong performance led by IPD volume growth
-Investors acknowledged sustainability of performance at new hospitals
-Got an update on ongoing expansion plans
-Key concern was threat from competition in Delhi/NCR region
-Key concern was sustainability of high ARPOBs

Sensex Today | Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas:

Indian Rupee depreciated by 7 paise on Thursday on weak domestic markets and a strong US Dollar. Surge in crude oil prices also weighed on Rupee. However, FII inflows over the past few sessions cushioned the downside. US Dollar gained on better than expected US GDP data and weak Euro. Unfavorable PMI data from China also supported the greenback. US economy expanded by 5.2% in Q3 2023 v/s 4.9% in initial estimates and forecast of 5%. However, dovish fedspeak capped sharp gains.

We expect Rupee to trade with a slight negative bias on month-end Dollar demand from importers and volatility in crude oil prices ahead of the OPEC meeting. However, fresh foreign inflows may support Dollar at lower levels. Traders may take cues from India’s GDP and fiscal deficit data. Traders may also take cues from core PCE price index, weekly unemployment claims, personal income and pending home sales data from US. USDINR spot price is expected to trade in a range of Rs 83.10 to Rs 83.70.

Stock Market LIVE Updates | General Insurance jumps 7% to extend rally, stock up 70% this year

Shares of General Insurance Corporation of India (GIC Re) continued their stellar run on November 30, rising around 7.5 percent. The stock has rallied over 35 percent in seven days and over 50 percent in just 15 days. The company's market capitalisation has soared to Rs 55,834 crore.

The surge can be attributed to the company's impressive financial performance, credit rating upgrade and strong outlook.

The reinsurer’s management recently conducted non-deal road shows following which the investors have started understanding the company’s operations and business. With a strong FY23 financial performance, GIC Re has received a credit rating upgrade which is helping the company bag large international orders.

On the financial strength scale, AM Best assigned a B++ (good) rating to GIC Re, and revised the outlook to “positive” from “stable”. It also assigned a bbb+ (good) rating to long-term issuer credit, accompanied by an upgraded outlook to “positive”. GIC Re also received an aaa.IN (exceptional) NSR rating with a stable outlook.

Stock Market LIVE Updates | Nitin Spinners commences production in Ring Spinning unit

Nitin Spinners has informed that commercial production in Ring Spinning Unit of 32640 Compact Spindles at Begun Unit has started today i.e.30.11.2023. With this the expansion project of Spinning, Knitted Fabrics and Woven Fabrics announced on 30.12.2021 has been completed.

Sensex Today | BSE Auto index up 0.5 percent supported by Eicher Motors, Hero MotoCorp, M&M:

Stock Market LIVE Updates | L&T Technology Services gets NCLT nod for amalgamation of Esencia Tech, Graphene Semicon & Seastar with the company

The Hon'ble National Company Law Tribunal (NCLT), Mumbai at the hearing held on November 29, 2023 has approved the Scheme of Amalgamation between Esencia Technologies India Private Limited, Graphene Semiconductor Services Private Limited and Seastar Labs Private Limited with L&T Technology Services Limited and their respective shareholders.

Stock Market LIVE Updates | Vascon Engineers board approves fund raising of up to Rs 125 crore via QIP

The board of directors of Vascon Engineers at its meeting held on November 30, 2023 approved raising of funds by way of issuance of such number of equity shares having face value of Rs 10 each of the company and / or other eligible securities or any combination thereof, for an aggregate amount not exceeding Rs 125 crore or an equivalent amount thereof by way of qualified institutions placement (QIP) or other permissible mode in accordance with the applicable laws, subject to the receipt of necessary regulatory / statutory approvals, as may be required.

Stock Market LIVE Updates | M&M to extend timeline for completion of balance investment by subsidiary in Whizzard

Mahindra Logistics (MLL) entered into agreements to acquire, up to 60% of the share capital of ZipZap Logistics Private Limited (Whizzard), on a fully diluted basis, in tranches by 30th November, 2023.

MLL has informed that certain conditions precedents for completion of the balance investment by MLL in Whizzard (resulting in aggregate shareholding of up to 60% on fully diluted basis) are underway. Accordingly, the parties have mutually agreed to extend the timeline for completion of the transaction to 31st December, 2023.

Sensex Today | Colin Shah, MD, Kama Jewelry

For the 8-year tenure, Sovereign Gold Bonds delivered a splendid CAGR of around 10.8% with an annual interest rate of 2.5%. This is a testimony to the fact that SGBs are here to stay and deliver stellar returns in the future. With a plethora of benefits like hassle-free storage compared to physical gold, the annual fixed interest of 2.50% payable semi-annually, and scheme value being linked to market price.

Being a government-backed investment, it promises security along with other advantages like the flexibility of being tradable in stock exchanges and exemption from capital gains tax, making it a well-preferred investment choice, especially for risk-averse investors who look out for investments that carry minimum risk and give stable returns. Having raised Rs 245 crore from the investors during the tenure of the first tranche, we anticipate that sovereign gold bonds are here to stay and will keep garnering interest from investors.

Stock Market LIVE Updates | Delta Expands into the Real Estate sector

Delta Corp has decided to make a strategic investment of Rs 99,99,88,000in Peninsula Land Ltd. (PLL) which will issue 1,50,00,000 equity shares and 77,27,000 CCDs at Rs 44.

Furthermore, a joint venture is envisaged to be established between Delta & PLL with a capital outlay of Rs 250 crores where Delta will be a majority stakeholder. This JV will help Delta expand into the sector.

Stock Market LIVE Updates | Motherson Sumi gains 1.8% after huge block deal

Motherson Sumi Wiring India jumped 1.8 percent after a huge block deal. Around 1.19 million shares changed hands in a bunch of trades, according to Bloomberg. However, details of the buyers and sellers were not known.

Stock Market LIVE Updates | Peninsula Land surges 5% post approval of Rs 100 cr issue to Delta Corp

Shares of Peninsula Land Ltd jumped 5 percent after its board approved Rs 66 crore preferential issue and Rs 34 crore debenture issue of share to Delta Corp.

Sensex Today | Nifty Pharma index up 1 percent led by Alkem Laboratories, Divis Laboratories, Lupin:

Sensex Today | Market at 2 PM

The Sensex was down 78.51 points or 0.12 percent at 66,823.40, and the Nifty was down 13.80 points or 0.07 percent at 20,082.80. About 1591 shares advanced, 1562 shares declined, and 119 shares unchanged. 

Stock Market LIVE Updates | Jefferies On Eicher Motors

-Buy call, target Rs 4,650 per share
-RE’s annual biking festival in Goa increases confidence on RE's brand appeal
-See limited impact on RE from the recent competitive launches
-See potential for re-rating
-Confidence on long-term market share sustainability amid tailwinds