Market Rises Amid Mixed Global Cues and Strong Domestic Buying!

📰Daily Market Wrap-Up by Stock Whisperers-November 27

Author

thestock whisperers
November 27, 2024

📈 Market Overview:

Summary of the Day's Market Performance

Market Overview

  • Sensex: Gained 230.02 points (+0.29%) to close at 80,234.08.

  • Nifty: Added 80.40 points (+0.33%) to settle at 24,274.90.

  • Nifty Midcap: Rose 0.6%, while Smallcap outperformed with a 1.3% gain.

  • Sectoral Highlights:

    • Top Gainers: Auto, Bank, Energy, FMCG, Metal, Media.

    • Top Losers: IT, Pharma, Realty, Healthcare.

💸 Market Transactions:

  • Foreign Institutional Investors (FII): ₹7.78 crore (Net Buyers)

  • Domestic Institutional Investors (DII): ₹1,301.97 crore (Net Buyers)

DIIs led the charge, showing confidence in domestic equities amid mixed global sentiment.

📊📑 Important Observations and Market Sentiments: Editor Special

  • Positive Momentum Sustained:

    • Domestic indices erased previous losses, supported by H2FY25 earnings optimism and broad-based buying.

  • Mixed Global Sentiment:

    • Asia: Mixed performance due to potential US tariff hikes, while China's rebound came on expectations of additional stimulus.

    • Global: Optimism over FOMC minutes and a Middle East truce improved the outlook, with decelerating inflation strengthening prospects of US rate cuts.

❓ DO YOU KNOW?

Japanese retail funds started pulling out of India for the first time since January 2018 Since November 2022, $8.6 billion came from Japanese retail funds and $2.1 billion from institutional funds

📰Stock News:

Key Stock Movements and News

  • Top Nifty Gainers: Adani Enterprises, Adani Ports, Bharat Electronics, Trent, NTPC.

  • Top Nifty Losers: Apollo Hospitals, Titan Company, Shriram Finance, Wipro, IndusInd Bank.

  • Vodafone Idea: Gained 6% amid speculation over a bank guarantee waiver.

  • NTPC Green Energy: Debuted at ₹111.50/share, a 3.24% premium over the IPO price; closed 12% higher on strong debut trade.

  • M&M: Launched two new electric SUVs priced from ₹18.9 lakh. Goldman Sachs projects a 20% upside.

  • Adani Group: Roller coaster ride continues:

    • Adani Power is locked in 20% of the upper circuit.

    • Adani Green and Adani Energy Solutions hit a 10% upper circuit.

  • Ola Electric: Shares hit a 20% upper circuit following new product launches and a 'buy' rating by Citi.

  • Lumax Auto: Jumped 5% after acquiring a stake in Greenfuel Energy for ₹154 crore.

  • ZF Commercial: Fell 13.5% following a major block deal worth ₹1,387 crores; promoters are likely sellers.

  • Aster DM: Rose plans to acquire the remaining stake in Aster Aadhar Hospital.

  • Defense and Shipbuilding Stocks: Surged up to 5% following a bullish call by JPMorgan.

Weekly Stock Markets Rundown

November 25-29, 2024

📈 Resilience and Recovery: Markets Eye Consumption and Macro Data

The Indian economy is turning the tide, with private consumption and agriculture leading the recovery, according to the RBI's State of the Economy report. However, foreign investors remain cautious due to expensive valuations and global uncertainties, redirecting funds to other regions like China.

Stock markets are likely to cheer the potential harmony between states and the center as BJP and its allies hold power in more states now than they did in 2019. Some specific promises made in the Mahayuti manifesto is likely to boost both blue-chip indices like Nifty 50 and Sensex, as well as individual stocks in real estate, infrastructure, and consumption space when the markets open for trade on Monday.

📌Stocks to Focus:

  • M&M: Electric SUV launch positions it as a leader in India's EV market.

  • Adani Power & Adani Green: Momentum traders may find opportunities amid volatile movements.

  • Ola Electric: Strong product pipeline and growing EV demand keep it in focus.

  • Lumax Auto: Strategic investments in green energy show long-term growth potential.

📝Summary:

Indian equity markets posted gains, driven by optimism over domestic earnings and buying interest in select sectors. While global cues remained mixed, a rebound in Chinese markets and positive global developments provided a supportive backdrop. The rally in auto, energy, and renewable stocks hints at sustained investor interest in growth-oriented themes. Investors will keenly watch global and domestic developments for near-term direction.

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Disclaimer: The information provided in this newsletter is for informational purposes only and should not be considered financial advice.

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