Summary of the Day's Market Performance

Market Overview

• Sensex: Climbed 759.05 points (+0.96%) to close at 79,802.79.

• Nifty: Gained 216.90 points (+0.91%) to end at 24,131.10.

• Midcap Index: Rose 0.3%, reflecting steady interest in broader markets.

• Smallcap Index: Gained 0.7%, outperforming midcaps.

• Sectoral Highlights:

  • Gainers: Auto, Energy, Pharma, Media (up 1-2%).

  • Losers: Realty and PSU Banks, which saw mild profit-booking.

💸 Market Transactions:

• Foreign Institutional Investors (FII): ₹-₹-4,383.55 crore (Net Sellers)

• Domestic Institutional Investors (DII): ₹5,723.34 crore (Net Buyers)

DIIs continued to provide critical support, offsetting FII outflows.

• Festive Boost: Discretionary sectors gained momentum, fueled by festive demand.

• Pharma Revival: Strong earnings and valuation corrections drove interest in pharma and healthcare stocks.

• GDP Anticipation: The expected slowdown in India’s Q2 GDP to 6.5% seems factored in, minimizing its impact on market sentiment.

• Global Sentiment: Subdued due to yen appreciation, as Japan’s inflation remains above the central bank's tolerance range.

This Week's Highlights:

1. Nifty: Gained 2.6% over two weeks, supported by positive momentum.

2. Sectoral Performance: PSU Banks led gains, while broader markets outperformed the headline indices.

3. Nifty Bank: Notched up nearly 2% gains, driven by heavyweights like SBI, HDFC Bank, and ICICI.

Forex reserves drop $1.31 billion to $656.5 billion. The kitty had dropped a record USD 17.761 billion to USD 657.892 billion in the previous reporting week ending November 15

Key Stock Movements and News

• Top Gainers: Bharti Airtel, Cipla, Sun Pharma, M&M, Adani Ports.

• Top Losers: Power Grid Corp, Shriram Finance, Hero MotoCorp, Nestle, Apollo Hospitals.

1. Enviro Infra: Stellar market debut with a 50% premium over its IPO price of ₹218.

2. Adani Group: Major support from Japan’s top banks lifted stocks. Adani Green, Energy Solutions, and Total Gas surged 7-23% on inclusion in the F&O segment.

3. Zee Entertainment: Rose 5% after shareholders rejected Punit Goenka’s reappointment as director.

4. Easy Trip Planners: Soared 14% as it traded ex-date for its 1:1 bonus issue.

5. Allied Blenders & Distillers: Rose as ICICI Securities initiated a 'Buy' call, estimating a 24% upside.

6. KEI Industries: Raised ₹2,000 crore via QIP; Kotak Mutual Fund acquired 25% of the issue.

7. Zomato: Jefferies forecasted a 17% upside, citing potential in its new 'District' app.

8. Bharti Airtel: Gained on ICICI Sec’s upgrade, projecting a further 15% upside.

• Adani Group Stocks: F&O inclusion and robust support from Japanese banks.

• Easy Trip Planners: Positive momentum following its bonus issue.

• Zomato: Growth prospects tied to its new app, 'District', make it a watchlist candidate.

• Bharti Airtel: Upgraded outlook with room for further gains.

• KEI Industries: Strong QIP demand signals institutional interest.

The market rebounded sharply, with the Nifty reclaiming 24,100 amid broad-based buying. Festive demand and steady corporate earnings fueled gains in key sectors. While FIIs remained net sellers, DIIs ensured stability. Pharma, energy, and discretionary sectors led the rally, with F&O inclusions adding excitement to specific stocks. Investors are advised to remain watchful of global cues, especially the yen's movement and upcoming GDP data.

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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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