The equity benchmarks extended gains for the third straight session on November 30 amid volatility on the November expiry day supported by pharma, capital goods, realty and oil & gas names.
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.
Despite weak global cues, the Indian benchmarks started with mild gains with Sensex crossing 67,000 and Nifty inched closer to 20,150. However, the opening gains were erased in the initial hours and Nifty fell near the 20,000 level. In the second half despite volatility, the indices managed to close with marginal gains.
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Stocks and Sectors
UltraTech Cement, HDFC Life, Sun Pharma, Apollo Hospitals and Eicher Motors were among the 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 was 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.
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 80,977.80 | 190.50 | +0.24% |
| Nifty 50 | 24,829.00 | 55.85 | +0.23% |
| Nifty Bank | 54,179.50 | -7.40 | -0.01% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Infosys | 1,494.90 | 62.00 | +4.33% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| Eternal | 325.90 | -3.75 | -1.14% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty IT | 35099.80 | 789.35 | +2.30% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Auto | 27097.00 | -92.20 | -0.34% |
A long build-up was seen in Delta Corp, India Cement and Alkem Laboratories, while a short build-up was seen in Tata Power Company, Federal Bank and PNB.
Among individual stocks, a volume spike of more than 1000 percent was seen in Indiabulls Housing Finance, Balrampur Chini Mills and Granules India.
New India Assurance, NBCC (India), Indiabulls Housing Finance, Varun Beverages, Prestige Estate, Max Healthcare, KSB Pumps, Brigade Enterprises, GAIL and Muthoot Finance, among the stock that touched their 52-week high on the BSE. Click here for the full list
Outlook for December 1
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.
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.
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.
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