NIFTY50: 20,855 ▲ 168 (+0.8%)
SENSEX: 69,296 ▲ 431 (+0.6%)
- Benchmark indices continued to gain for the sixth consecutive session
- In all, 32 of the NIFTY50 stocks closed in the green
- India’s services PMI declined to 56.9 in November from 58.4 in the previous month.
Among the NIFTY sectoral indices, Metal (+3.0%) and Oil & Gas (+1.4%) are the top gainers, while Media (-0.5%) and IT (-0.5%) are the top losers.
What's Up
| Top gainers | Today's change |
| Adani Enterprises | 2,971 ▲ 439 (+17.3%) |
| Adani Ports | 1,010 ▲ 131 (+14.9%) |
| Power Grid | 223 ▲ 10 (+4.7%) |
What's Down
| Top losers | Today's change |
| LTI Mindtree | 5,492 ▼ 85 (-1.5%) |
| HUL | 2,563 ▼ 39 (-1.5%) |
| Divi’s Labs | 3,743 ▼ 54 (-1.4%) |
Market Sentiment
| USD-INR | 83.37 ▼ 0.03 (-0.04%) |
| NIFTY MIDCAP 100 | 44,122 ▲ 204 (+0.4%) |
| NIFTY SMALLCAP 100 | 14,453 ▲ 15 (+0.1%) |
| India VIX | 13.46 ▲ 0.47 (+3.5%) |
Stock Buzz
⭐ Adani Group stocks extend gains
Adani Group stocks surged today, with Adani Green Energy, Adani Total Gas, Adani Energy Solutions rising around 20%. Other Adani Group stocks also rose in the range of 6% to 18%. Key drivers include Adani Green securing $1.36 billion for project financing from an international consortium of banks. Ambuja Cement gained as it completed acquisition of Sanghi Industries (SIL). Ambuja Cement now holds controlling stake in SIL. Besides this, Adani Ports continued to rise after reporting robust monthly cargo volumes.
Also, last week, the Supreme Court concluded hearings into the Adani-Hindenburg matter, with 22 out of the 24 cases related to this matter having been resolved. This has also helped fuel the rally in the Adani Group shares.
⭐ Bajaj Group hits ₹10 lakh crore market cap
Bajaj Group became the fifth Indian business group to cross the ₹10 lakh crore market cap. The surge was on the back of the robust performance of three group companies. Bajaj Auto’s stock led the pack, delivering over 69% returns year-to-date. Experts state that the two-wheeler maker’s robust performance was driven by the launch of the Triumph bike. This launch helped the company to diversify its product offerings. Shares of Bajaj Finance and Bajaj Finserv are also up 11% and 9%, respectively, so far in 2023. Meanwhile, shares of Bajaj Holdings & Investment and Maharashtra Scooters also increased by 34% and 74%, respectively.
⭐ Brigade Enterprises gains on new project launch
The Brigade Enterprises closed 1.7% higher today after the company announced plans to jointly develop a new luxury residential project in Mysuru. This new project is expected to have a developable area of about 0.40 million sq. ft., with a gross development value (GDV) of ₹300 crore.
⭐ JSW Infrastructure gains 3% on new acquisition
Shares of the commercial port operator rose 4.3% today. This comes after the company’s subsidiary JSW Dharamtar Port acquired 50% plus 1 shares of PNP Maritime Services held by SP Port Maintenance for ₹270 crore. PNP Port operates multi-purpose jetties in Maharashtra. According to the management of JSW Infrastructure, this new acquisition will help the company to expand its footprints and cargo handling capacity.
⭐ HCC shares at 52-week high
Shares of Hindustan Construction Company (HCC) closed 7% higher today, after hitting a 52-week high. This was on the back of its Swiss subsidiary Steinier AG entering into an agreement with Demathieu Bard to sell its entire equity interest in Steiner Construction SA, Switzerland, for ₹928 crore. Besides this, the company’s subsidiary received ₹110 crore for selling its stake in Baharampore-Farakka Highways.
In other news
⭐ Eicher Motors’ Royal Enfield has forayed into the pre-owned bike segment. The company has introduced Reown, which allows customers to buy, sell, and exchange their motorcycles as well as upgrade to new bikes with ease.
Learn with Upstox
What are trendlines and channels?
A trendline is a straight line that connects two or more price points on a chart. It helps identify the direction of the trend—whether it's going up, down, or sideways. An upward-sloping trendline indicates an uptrend, while a downward-sloping one signals a downtrend. On the other hand, channels involve drawing parallel lines around price movements, indicating potential entry/exit points and trend strength. Ascending channels suggest an uptrend, descending ones indicate a downtrend, and horizontal channels signal a ranging market.
Join the Upstox masterclass and trade like a pro!
All about Algorithmic Trading
Starts: 10 December to 14 December 2023
Time: 7:00 PM - 8:30 PM
Venue: Online
Cost: ₹1999 + GST
Seats are filling fast!