Top Nifty gainers and losers: Bajaj Twins jump, HUL, Airtel slip

Here are the top gainers and losers in the Nifty index as of 12:14 pm:

 

1. Bajaj Finserv Ltd: Bajaj Finserv saw a significant jump, becoming the top gainer on the Nifty 50. Its subsidiary, Bajaj Finance, approved a fundraising of Rs 10,000 crore via QIP and preferential issue. Post the conversion of shares, Finserv's stake in the subsidiary would rise to about 53 percent. The stock closed at Rs 1,629, up 5.6 percent on the NSE.

 

2. Bajaj Finance Ltd: Bajaj Finance shares also jumped after the company approved a fundraising of Rs 10,000 crore via QIP and preferential issue. This move would increase Finserv's stake in Bajaj Finance to about 53 percent. The shares closed higher by 3.8 percent at Rs 8,150 on the NSE.

 

3. IndusInd Bank Ltd: Shares of IndusInd Bank rose over 2 percent, trading at Rs 1,422 during the session. Motilal Oswal has noted that the bank has maintained its market share of systemic advances, supported by its leadership position in the vehicle finance and MFI segments, which constitute 26 percent and 10 percent of its advances, respectively.

 

4. Tata Consumer Products Ltd: Tata Consumer Products experienced gains and emerged as one of the top gainers on the Nifty. The company aims for double-digit growth in its coffee business, driven by an expansion in both portfolio and reach. Shares were priced at Rs 871, reflecting a gain of about 1.5 percent on the NSE.

 

5. Titan Company Ltd: Titan Company Ltd shares soared, extending gains for the third consecutive day. The company's wearables business, focused on smart tech products under the Fastrack and Titan brands, is expanding its product offerings in the smartwatch and Truly Wireless (TWS) categories. Shares closed at Rs 3,305, up 2.8 percent.

 

On the other hand, here are some of the top losers:

 

1. ONGC Ltd: ONGC's stock price declined, making it the top loser on the Nifty index. In the last six months, the public sector unit has seen a return of 20 percent. Volumes were low, with only 29 lakh shares changing hands compared to the 1-week average of 1 crore shares. The shares fell by 0.38 percent to Rs 181.5 on the NSE.

 

2. HUL Ltd: Shares of Hindustan Unilever Ltd, the largest FMCG player in the country, traded lower in today's session, ending a four-day gaining streak. Volumes were relatively low at mid-day, with only three lakh shares changing hands compared to a monthly average of 18 lakh shares. Shares closed nearly 1 percent lower at Rs 2,499 on the NSE.

 

3. Bharti Airtel Ltd: Bharti Airtel's shares fell at mid-day after investors didn't react positively to the telecom major's plans to attract cricket fans ahead of the World Cup. The company launched two plans, including unlimited data for two days for Rs 99 and 6GB of additional data with one-day validity for Rs 49. Shares traded down by 0.25 percent at Rs 925 on the NSE.

 

4. Asian Paints Ltd: Asian Paints' shares closed lower during today's session, with trading volumes lower than the weekly average. Only 9 lakh shares changed hands compared to 10 lakh shares in the weekly average. Shares closed at Rs 3,197, down by 0.29 percent.

 

5. Coal India Ltd: Coal India's shares slid to Rs 287, down by 0.64 percent in today's session after trading in green in the last trading session. Volumes were low as only 39 lakh shares changed hands compared to the 1-week average of 89 lakh shares.

Valiant Laboratories IPO GMP

Mahindra and Mahindra (M&M) Report Impressive 19% Growth in August Auto Sales

In a significant development, Mahindra and Mahindra Limited (M&M) have announced a robust 19% growth in their August auto sales, totaling 70,350 vehicles compared to 59,000 units in the same month of the previous year. This outstanding performance has propelled M&M's stock price up by nearly 2% to reach Rs 1600 on September 1.

The surge in domestic passenger vehicle sales played a pivotal role in this achievement, with M&M reporting a substantial 25% increase in August sales, reaching 37,270 units compared to 29,852 units during the corresponding period the previous year.

Notably, M&M achieved a remarkable milestone in the Utility Vehicles segment by selling a record-breaking 37,270 SUVs in the domestic market and a total of 38,164 vehicles, including exports.

Within the domestic market, M&M's commercial vehicle sales reached 23,613 units.

Veejay Nakra, President of the automotive division, acknowledged the strong demand for key SUV brands while also highlighting the company's vigilance regarding the availability of semi-conductors and critical components to ensure a smooth and sustainable scaling of operations.

However, in contrast to the domestic performance, M&M experienced a 17% decline in overall exports for August 2023, with a total of 2,423 units compared to 2,912 units in August 2022.

Shifting focus to the farm equipment sector, M&M observed a modest 1% increase in total tractor sales for August, with 21,676 units sold compared to 21,520 units in the same period of the previous year.

Hemant Sikka, President of the Farm Equipment Sector, emphasized that despite a 9% monsoon deficit at the end of August, Kharif sowing remained on track and had improved compared to the previous year for all key crops, excluding pulses. With favorable terms of trade for farmers and the upcoming festive season, M&M anticipates a rise in tractor demand in the coming months.

Domestic tractor sales for the month recorded a 3% increase to 20,647 units compared to 20,138 units year-on-year, while tractor exports saw a 26% decline year-on-year, totaling 1,029 units.

Nifty Telegram Tips

Check the Latest IPO and GMP

NDTV Stock Rises 4% Following Approval to Launch 4 Regional Channels by Ministry

New Delhi Television (NDTV) shares surged by 4 percent on August 18 following the Ministry of Information and Broadcasting's approval for the Adani Group-owned broadcaster to launch four regional channels. At 1 pm, the NDTV stock was trading at Rs 226.05, marking a gain of Rs 5.05 or 2.29 percent on the NSE.

According to an exchange filing, NDTV has received official clearance to uplink and downlink four news and current affairs channels: NDTV Rajasthan, NDTV Madhya Pradesh/Chhattisgarh, NDTV Gujarati, and NDTV Marathi.

In an additional announcement, the Indian English news broadcaster revealed its plan to initiate the launch of NDTV Madhya Pradesh/Chhattisgarh on August 21. This strategic expansion follows the Adani Media Group's acquisition of NDTV from its previous promoters in December of the preceding year.

The company's Q1FY24 results displayed a 35.03 percent YoY decline in revenue from operations, amounting to Rs 69.99 crore. Furthermore, NDTV reported a loss of Rs 8.08 crore, contrasting with a net profit of Rs 25.81 crore recorded in the corresponding quarter of the previous year. The operating loss for the quarter stood at Rs 9.68 crore.

NDTV operates in the television and digital broadcasting sector, providing news coverage, analysis, and multimedia content through its television channels and digital platforms. The company generates revenue through advertising and partnerships.

highly accurate banknifty calls

Over 80 smallcaps gain up to 40% even as market ends flat for the week

The Indian equity benchmarks remained almost unchanged for the week ended June 2 even after hitting a five-month high on buying in broader indices, the outperformance of realty stocks, and better macro and auto sales data. During the week, the 30-pack Sensex gained 45.42 points to close at 62,547.11 and the broad-based Nifty rose 34.75 points to end at 18,534.1.

The broader market, however, did better. For the week, the BSE midcap index rose nearly 2 percent and the small-cap index added 2.4 percent. The large-cap index ended flat. "Global markets were mixed as concerns about a weak global growth outlook persisted. India's Q4FY23 GDP growth improved to 6.1 percent and surprised on the upside," Shrikant Chouhan, Head of Equities Research (Retail), Kotak Securities, said.

India's GDP numbers beat expectations to rise 6.1 percent in the January-March quarter. Manufacturing PMI, too, expanded to a 31-month high of 58.7 in May from 57.2 in the previous month. BSE realty, healthcare and auto indices gained around 1.5-3 percent during the week, he said. BSE oil & gas and energy index corrected around 3 percent.

The auto index got a boost from May sales. Bajaj Auto reported a 29 percent jump in sales in the month at 3,55,148 units and Escorts Kubota reported highest-ever figures for May by selling 9,167 tractors, while Mahindra & Mahindra's sales were up 14 percent YoY. The Nifty realty index gained nearly 4 percent, media 3 percent and healthcare added 2.5 percent. The oil & gas index was down.7 percent and the energy index was nearly 2 percent.

Where is Nifty50 headed?

Rupak De, senior technical analyst, LKP Securities

The Relative Strength Index (RSI) has shown a bearish crossover, indicating a potential downturn in prices. The overall sentiment in the market is expected to remain sideways, indicating a lack of clear direction in the near term. The Nifty is likely to find support at 18,450-18,500, while resistance levels are anticipated at 18,650 and 18,800.

Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas

The Nifty consolidated during the week but will likely resume the uptrend in the coming week. From a short-term perspective, we maintain our positive outlook on the index for a target of 18,800. The level of 18,460- 18,420 will act as the crucial support zone, while the hurdle is at 18,600–18,660.

Open Online Demat Account

Top 10 Factors that affect the Stock Market on Monday

Bulls kept charging the markets throughout the truncated week that ended April 7, pushing the benchmark indices to sustain their rally. A host of reasons such as higher-than-expected PMI manufacturing data, monthly auto sales numbers, provisional Q4FY23 numbers from banks and NBFCs, FII inflow, and the RBI's surprise pause in interest rate hike with upward revision in growth forecast to 6.5 percent from 6.4 percent aided the surge.

The BSE Sensex climbed 841 points or 1.4 percent to 59,833, and the Nifty50 rose 239 points or 1.4 percent to 17,599, supported by banking and financial services, auto, pharma, and infrastructure stocks.

The broader markets also traded higher with the Nifty Midcap 100 and Smallcap 100 indices gaining 1 percent and 2 percent.

After yet another encouraging week, the momentum is expected to continue along with some volatility in the holiday-shortened week beginning April 10 with focus on corporate earnings, inflation data, global news flows, and FOMC minutes, experts said. 

1) Corporate Earnings

The corporate earnings season for the March FY23 quarter will be kicked off by index heavyweights Infosys on April 13, Tata Consultancy Services on April 12, and HDFC Bank on April 15.

2) CPI Inflation

The consumer price inflation, which measures the change in prices of a basket of goods and services, is likely to drop below the 6 percent mark in March on April 12, with moderation in food inflation, against 6.4 percent in the previous month, while core inflation is likely to be sticky around 5.9-6 percent.

3) US Inflation and FOMC Minutes

On the global front, investors will look for cues from US inflation numbers and FOMC minutes scheduled to be released on April 12. Overall, the inflation is expected to moderate further to around 5.3 percent in March against 6 percent in the previous month, while the core inflation is likely to be steady at around 5.5 percent, as per the forecast available on Trading Economics.

4) Global Economic Data Points

5) FII Flow

The consistent FII inflow due to the falling US dollar index and bond yields also aided the markets and experts believe the flow is expected to continue given the hope that Federal Reserve may consider a pause in interest rate hike cycle sooner than later.

6) Oil Prices

Crude oil prices reached to a month's high, with international benchmark Brent crude futures rising to over $85 a barrel, from $79.77 on a week-on-week basis and WTI crude climbing from $75.67 to $80.46 a barrel in the same period, after a surprise OPEC+ output cuts and more-than-expected draw in US oil stocks. But the gains were capped towards the end of week after the weak US economic data raised fears over demand outlook.

7) Technical View

The Nifty has formed bullish candlestick pattern on the weekly scale, with making higher top higher bottom for second consecutive week, and the momentum indicator RSI (relative strength index) giving a nice positive crossover. Also the index climbed back above the 50-week EMA (exponential moving average - 17,426), which is another positive sign.

8) F&O Cues

The weekly Option data indicated that the 17,600 is expected to be a crucial level for the next direction of Nifty50, where we have seen maximum Call as well as Put open interest. Further, the index may find strong resistance around 17,600-17,800 area, whereas 17,500 is expected to be near-term support followed by crucial support at 17,000 levels.

9) India VIX

The volatility cooled down considerably in the last couple of weeks, with the India VIX fell by 8.8 percent for the passing week to 11.79, the lowest weekly closing level since July 2021, from 12.93 levels last week.

10) Corporate Action

Schaeffler India, Britannia Industries, Varun Beverages, Visaka Industries, Edelweiss Financial Services, and Goodluck India will trade ex-dividend, while Emami will turn ex-buyback in the coming week.

Best Telegram Channel for Nifty Options

5 stocks that moved on November 29

Benchmark indices ended higher on November 29 with Nifty around 18600. At close, the Sensex was up 177.04 points or 0.28% at 62,681.84, and the Nifty was up 55.20 points or 0.30% at 18,618.

Ami Organics | CMP: Rs 1,001.45 | The stock jumped 7 percent after Norges Bank on account of The Government Pension Fund Global bought 1,092,000 equity shares in the company at a price of Rs 920 per share.

Can Fin Homes | CMP: Rs 548 | The scrip ended in the green after the company declared an interim dividend of Rs 1.50 per equity share of Rs 2 each. The company has fixed December 9, 2022, as the record date for the payment of this interim dividend and the dividend will be paid to the eligible shareholders by December 26, 2022.

Laurus Labs | CMP: Rs 408.50 | The share price tumbled over 9 percent after Kotak Institutional Equities downgraded the stock with a fair value of Rs 350 per share. It also has revised FY2024E EPS 34% lower than the street. The brokerage believes Laurus' troubles on antiretrovirals (ARVs) and the looming cessation of paxlovid sales are being underappreciated.

Inox Green Energy | CMP: Rs 60.30 | The stock price ended in the red after Dovetail India Fund Class 6 Shares sold 1.8 million shares in Inox Green at a price of Rs 61.69 per equity share.

Ethos | CMP: Rs 902.70 | The stock ended in the green on November 29. Ethos Limited has signed a partnership with Swiss Watch Manufacturer Speake-Marin to be their exclusive retailer in the Indian market. The timepieces by Speake-Marin will be exclusively available with Ethos Watch Boutiques and will include timepieces such as One & Two Dual Time and City Ripples, the firm said in an exchange filing.

Stock Market Today

5 factors that will keep traders busy

After taking a breather in the previous week, the market resumed its uptrend and ended the week at a record closing high with a 1 percent gain on November 25, following an up-move in global counterparts amid rising hope that the Federal Reserve may slow down the pace of rate hikes in the upcoming policy meetings. The declining oil prices, buying by FIIs, and falling US bond yields, too, lifted the sentiment.

The BSE Sensex rallied more than 600 points to 62,294 and the Nifty50 jumped over 200 points to 18,513, while the broader markets were also in action after recent consolidation, with the Nifty Midcap 100 and Smallcap 100 indices gaining more than 2 percent each. Auto, banks, technology, infrastructure, and oil and gas stocks supported the market, whereas power and realty stocks were under pressure.

In the coming week, too, the momentum along with consolidation is expected to sustain, with the Nifty likely hitting its intraday record high of 18,604, with focus on monthly auto sales numbers and second quarter GDP data on the domestic front, and global cues, experts said. The Bank Nifty as well as the BSE Sensex reclaimed their previous tops.

"Going ahead, the lack of strong fundamental triggers will limit the upside, keeping the market volatile in the short term. The Fed Chair's speech, scheduled for the next week, and the release of other significant macroeconomic data will influence the market's future trajectory," Vinod Nair, Head of Research at Geojit Financial services, said.

1) Quarterly GDP Numbers
The quarterly economic growth rate scheduled to be released on coming Wednesday is the key factor to watch out for next week. Most experts expect the economy to grow more than 6 percent in the September FY23 ended quarter (Q2CY22), lower compared to a growth rate of 13.5 percent recorded in the previous quarter (on a low base due to Covid-led lockdown in Q1FY22), supported by pent-up demand and economic activity normalization.

2) November Auto Sales
Monthly auto sales numbers scheduled to be released in the latter part of next week will also be watched. Commercial vehicle demand momentum is expected to continue in November, while the passenger vehicle sales are likely to be supported by improving semiconductor supply, experts said, but the sustainability of demand for two-wheeler post-festive season is a key to watch.

3) Oil Prices
The correction in oil prices was one of the reasons for strengthening market sentiment last week as it raises hope for ease in inflation and fiscal deficit concerns along with improving margin pressure for corporates. Also, the RBI may heave a sigh of relief as the rate hike pace may be slowed down, experts said.

4) Global Economic Data Points
Investors will closely watch the second estimates for the third quarter (CY22) US GDP, US unemployment rate for November, and monthly manufacturing PMI data due next week.

5) FII Flow
Healthy buying by foreign investors in November seems to have raised the confidence of the market. Experts largely feel the flow is expected to continue in the coming weeks with the fall in the US dollar index, and bond yields and given that India is the fastest-growing economy in the world.

Bank Nifty Price, Nifty Stocks, Nifty Option, Bank Nifty Option Price, Options Stock, Equity Sensex