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.

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