Moneycontrol PRO
HomeNewsBusinessMarketsTaking Stock: Market ends lower for second day; auto, FMCG a major drag

Taking Stock: Market ends lower for second day; auto, FMCG a major drag

Top losers on the Nifty included Adani Enterprises, M&M, Bajaj Finance, SBI Life Insurance and UltraTech Cement, while gainers were Divis Labs, Bharti Airtel, HCL Technologies, Wipro and ONGC.

November 20, 2023 / 16:11 IST
The BSE midcap index ended flat, while the smallcap index rose 0.4 percent.

The Indian benchmarks indices ended lower for the second consecutive session on November 20 with the Sensex closing down 139.58 points or 0.21 percent at 65,655.15, and the Nifty falling 37.80 points or 0.19 percent to end at 19,694.

Amid mixed global cues, the market started on a subdued note and remained rangebound during the day, with the Nifty falling below 19,700 amid selling seen in the auto, capital and FMCG names. However, buying in Information Technology and Healthcare names helped erase some of the intraday losses.

Stocks and Sectors

Top losers on the Nifty included Adani Enterprises, M&M, Bajaj Finance, SBI Life Insurance and UltraTech Cement, while gainers were Divis Labs, Bharti Airtel, HCL Technologies, Wipro and ONGC.

On the sectoral front, the Information Technology index was up 0.6 percent and the healthcare index was up 0.3 percent, while selling is seen in the metal, auto, capital goods, FMCG, and realty names.

The BSE midcap index ended flat, while the smallcap index rose 0.4 percent.

A long build-up was seen in Indus Towers, PFC and Balrampur Chini Mills, while a short build-up was seen in Balkrishna Industries, Adani Enterprises and Vodafone Idea.

Among individual stocks, a volume spike of more than 200 percent was seen in SAIL, Balkrishna Industries and Divis Lab.

IndexPricesChangeChange%
Sensex82,500.82328.72 +0.40%
Nifty 5025,285.35103.55 +0.41%
Nifty Bank56,609.75417.70 +0.74%
Nifty 50 25,285.35 103.55 (0.41%)
Fri, Oct 10, 2025
Biggest GainerPricesChangeChange%
Cipla1,561.8048.70 +3.22%
Biggest LoserPricesChangeChange%
Tata Steel173.86-2.56 -1.45%
Best SectorPricesChangeChange%
Nifty PSU Bank7695.80126.50 +1.67%
Worst SectorPricesChangeChange%
Nifty Metal10261.55-94.65 -0.91%

More than 400 stocks touched their 52-week high on the BSE, including Tata Investment Corporation, KPIT Technologies, Metro Brands, PB Fintech, GlaxoSmithKline Pharmaceuticals, Power Finance, New India Assurance, Bikaji Foods, General Insuran and REC. Click here for the full list

Outlook for November 21

Aditya Gaggar Director of Progressive Shares:

As anticipated, the markets remained rangebound post the tepid opening and finally settled at 19,694.00 with a loss of 37.80 points. Sector-wise, the IT sector kept on strengthening its uptrend while the Auto sector witnessed a pressure of profit booking.

The index has made a small negative candle in the middle of the range (19,850-19,550). We believe that the index is heading towards forming a right shoulder of an Inverted Head and Shoulder formation.

Ajit Mishra, SVP - Technical Research, Religare Broking

Markets started the week on a subdued note and closed almost unchanged. After the flat start, Nifty oscillated in a narrow range and finally settled at 19,694 levels.

Meanwhile, a mixed trend was witnessed on the sectoral front wherein IT posted decent gains while auto and metal ended in the red. The broader indices also witnessed some consolidation and closed on a flat note.

We are seeing a time-wise correction in Nifty so far despite the underperformance of the banking pack. Besides, the pause in the US markets is also capping the move. Amid all, we reiterate our bullish view on the index and suggest continuing with the “buy on dips” approach. Traders should stick with the other performing sectors and utilise this phase to gradually add quality names.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Rakesh Patil
first published: Nov 20, 2023 03:45 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

  • On Saturdays

    Find the best of Al News in one place, specially curated for you every weekend.

  • Daily-Weekdays

    Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347