With advances of 0.6 and 0.5 percent, respectively, the mid-small cap indices beat the frontline indices.The top Nifty gainers were Adani Enterprises, SBI, HDFC Bank, Adani Ports, and Shriram Finance.
After metal and PSU bank stocks helped boost market optimism, benchmark indexes Nifty and Sensex started the day on a respectable tone, albeit slightly higher and continuing gains for the third consecutive trading session. The Nasdaq and S&P 500 recorded record closing highs, driven by a strong surge in technology companies, and US markets also contributed to improving morale.
The RBI's December 4 MPC meeting will also be a source of guidance for markets this week. According to a Moneycontrol survey of financial managers and analysts, the central bank will probably
At approximately 9:40 a.m., the Nifty was up 33.00 points, or 0.14 percent, at 24,309.05. The Sensex was up 100.10 points, or 0.12 percent, at 80,348.18. Approximately 2,315 shares rose, 680 shares fell, and 106 shares remained the same.
In an interview with Moneycontrol, Ajit Mishra, Senior Vice President at Religare Broking, stated, "The market's undertone remains positive, as there are no immediate negative triggers and weak GDP figures were already priced in." He pointed out that investors are now looking to the government for capital expenditure help, which might improve mood even more. By reducing CRR, the central bank might increase liquidity. Mishra anticipates that FII selling would continue until early 2025, even if it may slow by mid-December.
In fact, domestic institutional investors absorbed Rs 3,588 crore, while foreign institutional investors (FIIs) sold Rs 239 crore to begin December.
According to sources familiar with the matter, CNBC-Awaaz and PTI News reported that tobacco major ITC fell 3 percent after the Group of Ministers on GST rate rationalization suggested increasing the tax on cigarettes, aerated beverages, tobacco, and related "sin" products from the current 28 percent to 35 percent. Varun Beverages, the company that bottles Pepsi, started the day 5% lower.
Swiggy, a well-known food delivery service that just went public, saw its first rally since its launch last month, rising 4% ahead of its Q2 results. Swiggy reported revenue of $750 million (approximately Rs 6,300 crore) in the first half of the financial year 2025 (H1FY25), up 40% from $536 million (approximately Rs 4,500 crore) during the same period last year, according to half-yearly disclosures made by Prosus, one of the company's largest shareholders.
Following the receipt of its largest order, valued at Rs 1,311 crore, from Coal India, KPI Green Energy's shares surged more than 3%. The company plans to install a 300 MW AC (405 MW DC) ground-mounted solar PV facility in Gujarat, complete with five years of operation and maintenance (O&M) services based on engineering, procurement, and construction.
With advances of 0.6 and 0.5 percent, respectively, the mid-small cap indices beat the frontline indices. According to market analysts, BSE Small-Cap and Mid-Cap stocks have had a respectable correction over the last two months and may witness a resurgence of buying activity in the weeks ahead. Tuesday saw a robust rise in smallcap stocks, with 173 stocks falling and 750 BSE smallcap stocks trading higher. Midcap stocks.
In an interview with Moneycontrol, Ajit Mishra, Senior Vice President at Religare Broking, stated, "The market's undertone remains positive, as there are no immediate negative triggers and weak GDP figures were already priced in." He pointed out that investors are now looking to the government for capital expenditure help, which might improve mood even more. By reducing CRR, the central bank might increase liquidity. Mishra anticipates that FII selling would continue until early 2025, even if it may slow by mid-December.
In fact, domestic institutional investors absorbed Rs 3,588 crore, while foreign institutional investors (FIIs) sold Rs 239 crore to begin December.
According to sources familiar with the matter, CNBC-Awaaz and PTI News reported that tobacco major ITC fell 3 percent after the Group of Ministers on GST rate rationalization suggested increasing the tax on cigarettes, aerated beverages, tobacco, and related "sin" products from the current 28 percent to 35 percent. Varun Beverages, the company that bottles Pepsi, started the day 5% lower.
Swiggy, a well-known food delivery service that just went public, saw its first rally since its launch last month, rising 4% ahead of its Q2 results. Swiggy reported revenue of $750 million (approximately Rs 6,300 crore) in the first half of the financial year 2025 (H1FY25), up 40% from $536 million (approximately Rs 4,500 crore) during the same period last year, according to half-yearly disclosures made by Prosus, one of the company's largest shareholders.
Following the receipt of its largest order, valued at Rs 1,311 crore, from Coal India, KPI Green Energy's shares surged more than 3%. The company plans to install a 300 MW AC (405 MW DC) ground-mounted solar PV facility in Gujarat, complete with five years of operation and maintenance (O&M) services based on engineering, procurement, and construction.
With advances of 0.6 and 0.5 percent, respectively, the mid-small cap indices beat the frontline indices. According to market analysts, BSE Small-Cap and Mid-Cap stocks have had a respectable correction over the last two months and may witness a resurgence of buying activity in the weeks ahead. Tuesday saw a robust rise in smallcap stocks, with 173 stocks falling and 750 BSE smallcap stocks trading higher. Midcap stocks.
With a 1% increase apiece, Nifty Bank, PSU Bank, Realty, and Metal Index saw the biggest rallies. The index was raised by gains in well-known banks like SBI, HDFC Bank, IndusInd Bank, and Shriram Finance. With giants like Godrej Properties, Prestige, and Oberoi Realty leading the way, the Realty index rose more than 3% in a single week.
"Historically strong reversal zones, 24,000 and 23,900, provide immediate support and could offer buying chances if supported by positive market activity. The first obstacle on the upside is 24,350. Significant upside potential might be unlocked by a clear breakout above this level, which would push the index into the next resistance objectives at 24,800 and 25,000, according to Choice Broking's Mandar Bhojane. "Traders are encouraged to exercise caution and wait for confirmation of price action at key support and resistance levels before initiating fresh positions," he added.
"Historically strong reversal zones, 24,000 and 23,900, provide immediate support and could offer buying chances if supported by positive market activity. The first obstacle on the upside is 24,350. Significant upside potential might be unlocked by a clear breakout above this level, which would push the index into the next resistance objectives at 24,800 and 25,000, according to Choice Broking's Mandar Bhojane. "Traders are encouraged to exercise caution and wait for confirmation of price action at key support and resistance levels before initiating fresh positions," he added.
The top Nifty gainers were Adani Enterprises, SBI, HDFC Bank, Adani Ports, and Shriram Finance. The main laggards were ITC, Bharti Airtel, Sun Pharma, Trent, and M&M.
Disclaimer: Moneycontrol.com's investing experts' opinions and advice are their own and do not represent the website's or its administrators'. Before making any financial decisions, users are advised by Moneycontrol.com to consult with qualified professionals.
Disclaimer: Moneycontrol.com's investing experts' opinions and advice are their own and do not represent the website's or its administrators'. Before making any financial decisions, users are advised by Moneycontrol.com to consult with qualified professionals.
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