NIFTY closes at record level, NIFTY Auto dips post November sales data & more

NIFTY50: 20,267 ▲ 134 (+0.6%)
SENSEX: 67,481 ▲ 492 (+0.7%)

• Benchmark indices edged higher, with NIFTY50 scaling a record-high
• In all, 29 of the NIFTY50 stocks closed in the green
• India’s manufacturing PMI rose to 56 in November bouncing back from an 8-month low of 55.5 in October 

Among the NIFTY sectoral indices, Media (+2.5%) and PSU Bank (+1.8%) were the top gainers, while Auto (-0.36%) was amongst the top losers.

What's Up

What's Down

Market Sentiment

Stock Buzz

⭐ NIFTY hits a record high

On Friday, NIFTY50 surged for the fourth consecutive session, closing at a fresh high of 20,291. The rally was driven by strong Q2 GDP numbers, which buoyed market sentiments. India’s GDP growth in the September quarter stood at 7.6%, surpassing market forecast of 6.8%. Further, Foreign Institutional Investor (FII) turned net buyers in November with net purchases of ₹5,795 crore. FIIs have turned net buyers after three consecutive months of selling. Globally, reduced geopolitical tensions, falling US 10-year bond yield, and a drop in the US dollar index against major currencies positively influenced domestic markets. 

⭐ NIFTY Auto dips post November sales data

NIFTY Auto closed 0.3% lower today, with major stocks declining, following the release of November sales data by auto majors. M&M reported a 32% rise in sales of utility vehicles to 39,981 units. Maruti Suzuki reported a tepid 1.6% rise in its domestic sales to 1.41 lakh units with a 16.3% rise in exports to 22,950 units. Tata Motors passenger vehicle sales declined by 1% to 46,143 units. Its electric vehicle sales rose 7% YoY to 4,761 units. Meanwhile, shares of these automakers closed in red.  

⭐ ITD Cementation hits 52-week high

Shares of the infrastructure company closed 2.2% higher, after touching a fresh 52-week high of ₹304.8 per share. This rise comes after the company secured a new project worth ₹1,001 crore. The project involves civil and hydro-mechanical works for a 500 MW hydel power project in Andhra Pradesh.

⭐ Power stocks hit new highs

Power sector stocks saw a notable upswing today, with REC Ltd closing 7.5% higher after reporting a total disbursement of ₹1 lakh crore between April and November in FY24, up from ₹46,075 crore in the same period last fiscal year. Simultaneously, Power Finance Corporation (PFC) experienced a 9% rise following the establishment of its wholly owned subsidiary, PFC Consulting Limited, which will act as consultant and bid process coordinator for a Ministry of Power transmission project. This positive trend extended to other power stocks as well, with NTPC (+2.9%), NHPC (+3.4%) and Tata Power (+2.5%) closing higher today. 

⭐ Dixon Tech gains 8% on smartphone plant launch

Shares of the electronic manufacturer closed with 8.1% gain, touching a new 52-week high This rise comes after the company’s subsidiary Padget Electronics launched a new smartphone manufacturing plant in Uttar Pradesh. Through this facility, the company will manufacture smartphones for global tech giants like Xiaomi. The plant is spread across 2.7 lac square feet and has a capacity of making 25 million units annually.

IPO Corner

⭐Flair Writing Industries made a bumper debut today, listing at a premium of over 64% compared to the issue price of ₹304 per share. Shares of the company opened at ₹501 per share on NSE but witnessed a correction and closed 10% lower at ₹450.

Learn with Upstox

What are candlesticks?

Candlesticks are a popular chart type used in technical analysis to visualise price movements and understand market psychology. They graphically represent price action, showing the open, high, low and close (OHLC) prices of a stock or index for a particular trading period. The colour of the candlestick—green or red—indicates whether the stock or index closed higher or lower than the price at which it opened. While the vertical lines, also called wicks, represent the high and low price for that period.

Join the Upstox masterclass and trade like a pro!

All about Algorithmic Trading

Starts: 27 November to 1 December 2023

Time:  6:30 PM - 8:30 PM

Venue: Online

Cost: ₹1999 + GST

Seats are filling fast!

Register Here