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Table of Contents
Indian Indices
I)Nifty: opened at 23605 and touched a high of 23606 then a low of 23350 and closed at 23453 with a total of - 78 points in Negative
II) Bank Nifty: open 50312 and touched a high of 50445 then a low of 50074 and closed at 50363 With a total of + 184 points Positive
III) Fin Nifty: open 23270 and touched a high of 23347 then a low of 23194 and closed at 23257 With a total of + 57 points in Positive
IV) Nifty Mid Select: open 12118 and touched a high of 12123 then a low of 12038 and closed at 12091 With a total of - 8 points in Negative
NSE Advance and Decline
Nifty 500 Top Gainer
Nifty 500 TOP LOSER
Sectoral Performance
Outperforming stocks vs nifty 500over 1 week
Underperforming Stock vs Nifty 500over 1 week
Stock With Rising Volume
Headlines
Indian Stock Market Highlights (Excluding Indices) - November 18, 2024
Today's stock market saw a continuation of the bearish trend, with sharp declines across multiple sectors, driven by both global and domestic factors.Today market
Key Sectoral Performances:
Realty, Metals, and Auto Sectors: These sectors faced significant losses, with major stocks like Hindalco, Tata Steel, and Mahindra & Mahindra leading the declines. The Nifty Realty and Metal indices were among the worst performers of the day.
Small and Mid-Cap Stocks: The BSE SmallCap index dropped over 3%, while the MidCap index fell by 2.5%. This highlights the intense selling pressure in broader markets, reflecting weak sentiment among investors.
Energy and Financials: NTPC Green Energy announced its IPO price band, aiming for a $10.8 billion valuation. However, financial stocks struggled due to inflation concerns and sustained foreign institutional investor (FII) outflows.
Company-Specific Updates:
Hero MotoCorp: Despite the overall market decline, analysts remain optimistic about Hero MotoCorp's long-term prospects, citing rural demand recovery and its expanding electric vehicle (EV) lineup as key growth drivers.
Patel Engineering: Shares surged nearly 6% intraday after the company reported strong Q2 results, including a 95% increase in profit after tax and 15% growth in revenue.
Honasa (Mamaearth): The company's revenue declined due to inventory adjustments, leading analysts to lower target prices. However, its derma skincare segment continues to exhibit strong growth, bolstering its long-term outlook.
Market Dynamics:
Global Factors: Rising U.S. inflation, high bond yields, and policy uncertainties contributed to global market volatility, further impacting Indian markets.
Domestic Challenges: Inflation in India climbed to a 14-month high, diminishing expectations for a near-term rate cut by the Reserve Bank of India. FII outflows exacerbated market pressures.
Technical Indicators:
The Nifty tested its crucial 200-day exponential moving average (DEMA) for the first time in five months, signaling bearish momentum. While this level serves as a critical support zone, any potential recovery may be limited to select oversold stocks.
Despite the challenges, resilient sectors and fundamentally strong stocks may present attractive opportunities for value-focused investors in the near term.
I am Devesh Gupta, a Junior Analyst at Seben Capital, where I specialize in finance with a focus on market research and data analysis. I support investment decisions by translating complex financial data into actionable insights. My role at Seben Capital allows me to contribute significantly to our investment strategies, leveraging my analytical skills to drive success.
