NIFTY50 and Sensex close higher, Metal stocks shine; Stock Market Highlights

Thank you, readers! That's all from Upstox.com's live market coverage on 21 November 2023. We’ll be back with our live coverage at 8:00 am on Wednesday.

The NIFTY Midcap 100 Index was up 0.06%, while the NIFTY Smallcap 100 index closed 0.1% lower.

The NIFTY Financial Services index was up 0.4% today. IEX (+2.7%) and SBI Life (+2.7%) were top gainers, whereas REC (-2.0%) and Cholamandalam Finance (-2.0%) were the top losers.

The BANK NIFTY (+0.2%) index closed in the green today. Gains in large banks such as HDFC Bank (+0.8%), ICICI Bank (+0.6%) and Axis Bank (+0.4%) supported the index.

NIFTY50 (+0.4%) and Sensex (+0.4%) snapped a two-session losing streak and closed in the green today. Gains in HDFC Bank (+0.8%), ICICI Bank (+0.6%) and Reliance Industries (+1.1%) propelled the markets higher. On the sectoral front, Metal and Realty were the top gainers, while PSU Bank and IT were the top losers.

The prices of yellow metal (+0.3%) are steadily moving up and trading at their two-week high. This comes on the back of easing of US bond yields and softening US dollar. Note that lower interest rates are beneficial for non-interest yielding assets like gold.

Meanwhile, investors will be monitoring US Fed meeting minutes, which will be released later today. The meeting minutes could provide further clarity on interest rate movement going forward. The easing of the US inflation rate in October has given a boost to possibility of a rate cut.

UK’s FTSE is down 0.4%, while Germany’s DAX is trading 0.1% higher. Meanwhile, France’s CAC is trading 0.1% lower.

22 November expiry @ 2:55 pm

• Max call OI: 43,800
• Max put OI: 43,500
• Max pain: 43,700
• PCR: 0.5

Shares of RattanIndia are up 16.4% today.

The company announced that its wholly owned subsidiary Neobrands has launched a lightweight winter collection under brand FYLTR. The collection will be sold online through its brand store on Amazon.

The winter collection will include sweatshirts, Hoodies and puffer jackets.

The IPO of Indian Renewable Energy Development Agency (IREDA) is receiving strong traction from investors. On day 1, the IPO has been fully subscribed. The retail portion has been subscribed 1.3 times. The segment for non-institutional investors has also been subscribed 1.4 times.

The state-owned lender is a non-banking finance company (NBFC) with a focus on green financing. It primarily finances power generation, transmission, distribution and other activities. The loan book stood at around ₹47,000 crore in the September quarter.

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