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Taking Stock: Market ends flat in another volatile session; mid, smallcaps outperform

Broader indices outperformed the main indices with BSE Midcap and Smallcap indices rising 0.5 percent each.

November 08, 2023 / 16:39 IST
On November 8. the Sensex was up 33.21 points or 0.05 percent at 64,975.61, and the Nifty was up 36.80 points or 0.19 percent at 19,443.50. About 1921 shares advanced, 1642 shares declined, and 128 shares unchanged.

In yet another volatile session, the Indian benchmark indices ended on a flat note on November 8 with the Sensex ending at 64,975.61, up 33.21 points or 0.05 percent, while Nifty gaining 36.80 points or 0.19 percent to close at 19,443.50.

On the back of mixed global cues, the market started on a flat note and remained rangebound throughout the session. During the day, the BSE Sensex and Nifty50 indices crosses 65,000 and 19,460 levels, respectively.

Stocks and Sectors

Top gainers on the Nifty included BPCL, Adani Ports, Cipla, Asian Paints and Titan Company, while losers were ICICI Bank, NTPC, Tech Mahindra, Infosys and Tata Consumer Products.

Among sectors, except, IT and bank (down marginally), all other indices ended in the green with realty, oil & gas, healthcare and capital goods up 1 percent each, while auto, FMCG and metal up 0.5 percent each.

Broader indices outperformed the main indices with BSE Midcap and Smallcap indices rising 0.5 percent each.

A long build-up was seen in HPCL, Zydus Lifesciences, Apollo Tyres, while a short build-up was seen in BHEL, Delta Corp and Bharat Forge.

Among individual stocks, a volume spike of more than 300 percent was seen in Balkrishna Industries, Deepak Nitrite and Cummins India.

Nearly 250 stock touched their 52-week high on the BSE, including NLC India, Ratnamani Metal and Tubes, Prestige Estate Projects, Swan Energy, Alkem Laboratories, Ipca Laboratories, KPIT Technologies, Aurobindo Pharma, Kalyan Jeweller, Jyothy Labs, among others. Click here for the full list

IndexPricesChangeChange%
Sensex85,528.16-184.21 -0.21%
Nifty 5026,125.55-60.90 -0.23%
Nifty Bank59,566.85-210.35 -0.35%
Nifty 50 26,125.55 -60.90 (-0.23%)
Mon, Dec 08, 2025
Biggest GainerPricesChangeChange%
Hindalco831.758.50 +1.03%
Biggest LoserPricesChangeChange%
Bajaj Finance1,036.70-11.30 -1.08%
Best SectorPricesChangeChange%
Nifty IT38829.40125.70 +0.32%
Worst SectorPricesChangeChange%
Nifty Auto27794.20-144.90 -0.52%
Outlook for November 9Ajit Mishra, SVP - Technical Research, Religare Broking:

Markets remained range-bound and ended marginally in the green, in continuation of Tuesday’s move. After the flat start, Nifty oscillated in a narrow range till the end and finally settled at 19443.50 levels. Meanwhile, a mixed trend on the sectoral front kept the traders busy wherein realty and pharma posted decent gains. The broader indices outshined the benchmark and gained in the range of 0.7 percent-1 percent.

Markets need a push to overcome the major hurdle at 19,500 in Nifty and it could probably be from the global markets, in the absence of any major domestic event. Meanwhile, participants should continue with the stock-specific trading approach, with bias on the positive side.

Aditya Gaggar Director of Progressive Shares:

Rangebound trade persisted for the 2nd consecutive day as well but this time, the Index managed to end the session in green at 19,443.50 with gains of 36.80 points. After a day of correction, the Realty segment moved in tandem with its primary uptrend. The Pharma segment was the star performer of the day and majority of its components have shown a sharp uptick in today's trade. With gains of 0.75 percent & 0.62 percent, the Metal and FMCG sectors also performed well while IT and BankNifty were the major laggards.

Broader markets extended their streak of outperformance as Midcap soared by 0.99 percent while Smallcaps gained 0.70 percent. Despite ending the day in green, the kind of candles formed in the past two days near its crucial resistance zone does not give confidence in bullish momentum.

A strong bullish candle above the hurdle of 19,500 will boost the conviction in the momentum. The immediate resistance stands at 19,500 while the downside is protected at 19,315.

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 8, 2023 03:43 pm

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