“Considering overwhelming subscription demand and investor friendly pricing, Tata Technologies could see a strong listing gain of over 75% against the issue price of Rs 500/- per share. There is a high possibility that Tata Technologies can be a doubler candidate post listing. We believe the super listing premium is justified mainly on the back of TATA parentage tag that enjoys first preference among investors community and its unique well established global business model which has been generating healthy margins in the sector it serves. Given the growth potential in outsourcing, the business model would be in great demand going forward. Hence considering all these factors, we recommend allotted investors to book 50% profits over and above our expectations and retain the rest of the holding for long term considering healthy long term returns post listing. Investors who failed to get allotments in the public offer can accumulate Tata Technologies on every dips post listing for a long term,” said Prashanth Tapse, Research Analyst, Sr VP Research, Mehta Equities Ltd

The shares of Adani Total Gas hit the 20% upper circuit following the news that Adani Total Gas announced the initiation of a pioneering ‘Green Hydrogen Production and Blending Pilot Project.’ As part of the project, ATGL will employ the latest technologies to blend Green Hydrogen (GH2) with natural gas for over 4,000 residential and commercial customers in Ahmedabad, Gujarat.

“Indian Rupee gained by 4 paise on Tuesday on positive domestic markets and FII inflows over the past two sessions. However, a slight recovery in the US Dollar index and crude oil prices capped sharp gains. The US Dollar declined for the third consecutive day on Monday on housing data from the US and waning safe haven demand as Israel-Hamas extended the truce by two days till Thursday morning. We expect Rupee to trade with a slight negative bias on month-end Dollar demand from OMCs and importers. Weak global markets may also weigh on risk currencies. However, fresh foreign inflows and a weak tone in crude oil prices may support Rupee at lower levels. Traders may take cues from CB consumer confidence data from the US. Investors may take cues from India’s GDP and fiscal deficit data towards the end of the month. USDINR spot price is expected to trade in a range of Rs 83 to Rs 83.70,” said Anuj Choudhary Research Analyst , Sharekhan by BNP Paribas.

(Source: NSE)

Adani Enterprises and Adani Ports & Special Economic Zone continue to lead the gains on the NSE, having advanced over 10% and 5% during intra-day trade on Tuesday.

Hindustan Petroleum, MCX India, Max Financial, IOC, and NMDC are the stocks trading at their 52-week high.

The share of Vascon Engineers is trading up by more than 5% in intra-day trade following the news that the board of directors will be meeting on November 30 to consider raising funds through the issuance of equity shares.

Polycab, Birlasoft, Coforge, Aurobindo Pharma, and Coromandel International are the top losers on F&O basket.

” Today’s opening for Nifty at 19,844.65, up from the previous closing value of 19,794.70, reflects the overall optimistic market sentiment. Similarly, Sensex, which concluded last Friday at 65,970.04, saw a slight gain with today’s opening at 66,063.72. Nifty is currently trading within the range of 19,800 to 19,850. Notably, the Maximum Call Open Interest (OI) is observed at 19,900, while the Put OI remains robust at 19,800. This suggests that 19,900 serves as a crucial resistance, while 19,800 acts as a strong support. Despite the positive trends in Nifty 50 and Sensex at the start of the trading session, still the market is eagerly awaiting some news that could potentially trigger a breakout or breakdown,” said Shrey Jain, Founder and CEO, SAS Online.

The share price of Adani Enterprises soared over 7% to Rs 2,381.90 during intra-day trade on Tuesday. The northward trend followed the news that the Supreme Court concluded the hearing of a batch of PILs seeking a court-monitored investigation into Adani-Hindenburg for violations of stock market regulations. Previously, on Friday, the Securities & Exchange Board of India informed the Supreme Court that it would not seek an extension to complete a probe into Gautam Adani’s group.

“Upside attempts persisted on Friday, but 83.4 stood firm. Look for a pull back, but not exceeding 83.26, followed yet another attempt to overcome 83.4. Slippage below 83.26 could signal loss in strength, calling for consolidation inside 83.19 – 83.02 again,” said Anand James, Chief Market Strategist at Geojit Financial.

Adani Enterprises, Adani Ports anD SEZ, BPCL, Hindalco Industries, and Tata Motors are the top gainers on NSE Nifty 50 index.

The shares of Hero MotoCorp hit their 52-week high, trading 52.40 points or 1.48% up at Rs 3,601 in intra-day trade.

“Nifty weekly contract has highest open interest at 19,900 for Calls and 19,800 for Puts while monthly contracts have highest open interest at 19,900 for Calls and 19,800 for Puts. Highest new OI addition was seen at 19,800 for Calls and 19,450 for Puts in weekly and at 19,800 for Calls and 19,450 for Puts in monthly contracts. FIIs increased their future index long position holdings by 8.58%, increased future index shorts by 1.24% and in index options by 22.67% in Call longs, 18.21% in Call short, 27.17% in Put longs and 28.89% in Put shorts,” said Anand James, Chief Market Strategist at Geojit Financial Services.

“The market construct is turning favourable aided by global and domestic factors. Globally there is tailwind from the US market with S&P 500 up by 8.7% so far this month, which, in turn, is supported by falling US bond yields. Domestically, macro indicators suggest strong growth momentum in the economy. Record order inflows for capital goods companies and robust credit growth are strong indicators of the growth momentum in the economy. The only unknown now is the outcome of the state election results. The exit polls on Thursday are likely to give indications of the election outcomes and its impact on the crucial General election in 2024. The US inflation data on Thursday and the Powell speech on Friday will influence global market trends. This week is likely to be volatile but a rally is likely soon. FIIs have already turned buyers. FII and DII money flows can trigger a large-cap led rally,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

“Bank Nifty witnessed some pullback since the last session from near the significant 200 period MA to touch 43,800 zone to slightly improve the bias. As mentioned earlier, the index needs to breach above the important 50EMA level of 43,900 zone for further improvement in the bias and anticipate for further rise in the coming days. Bank Nifty would have a daily range of 43,500–44,000 levels,” said Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher.

Adani Enterprises led the gains on the NSE Nifty 50 during early trading, surging nearly 4% on Tuesday. Other leading gainers on the Nifty 50 include BPCL, Adani Ports, Hindalco Industries and Dr Reddy’s Labs.

The NSE Nifty 50 opened at 19,844.65 up 0.25%, while BSE Sensex opened at 66,063.72 up 93.68 points.

The NSE Nifty 50 opened at 19,844.65 up 0.25%, while BSE Sensex opened at 66,063.72 up 93.68 points.

“Markets are likely to see a firm opening on the back of sharp gains in the Gift Nifty index, although Asian indices are exhibiting a mixed trend. The two positive catalysts likely to aid sentiment are sluggish crude oil prices at $74.50 a barrel and both FIIs and DIIs turning net buyers of local stocks in Friday’s session. Investors are likely to maintain caution ahead of the exit polls of five state elections on November 30. Also, the monthly F&O expiry this week will see investors covering their positions. Technically, if Nifty moves above the 19,889 mark then it’s safe to assume that Christmas has come early to Dalal Street and stock markets across the globe,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.

“The USDINR 28 November futures contract traded in a tight range. As per the weekly technical chart, the pair is trading above its moving average trend-line support level of 83.20 and RSI is fetching above 50 levels. Looking at the technical set-up, MACD is showing negative divergence and the pair is facing steep resistance at higher levels. As per the weekly technical chart the pair is having support at 83.20-83.05 while resistance is placed at 83.55-83.70. If the pair sustains above 83.35 levels it could witness further strength towards 83.55-83.70 with support being placed at 83.20-83.05 levels,” said Rahul Kalantri, VP Commodities, Mehta Equities.

The NSE added Balrampur Chini Mills, Hindustan Copper, Hindustan Petroleum Corporation, Indiabulls Housing Finance, Zee Entertainment, BHEL and Granules India to its F&O ban list for November 28, 2023.

Foreign institutional investors (FII) purchased shares worth net Rs 2,625.21 crore, while domestic institutional investors (DII) added shares worth net Rs 134.46 crore on November 24, 2023, according to the provisional data available on the NSE.

Bank of Baroda, Eicher Motors, LIC, ONGC, Fortis Healthcare, ONGC, BPCL, HPCL and DLF are among the top stocks to watch during today’s trading session.

S&P Global Ratings on Monday raised India’s growth forecast for the current financial year to 6.4%, from 6%, saying that robust domestic momentum has offset headwinds from high food inflation and weak exports. The US-based rating agency, however, has cut growth estimates for the next fiscal (2024-25) to 6.4%, as it expects growth to slow in the second half of the current fiscal, on higher base impact and subdued global growth. “We have revised up our projection for India’s GDP growth for fiscal 2024 (ending in March 2024) to 6.4%, from 6%, as robust domestic momentum seems to have offset headwinds from high food inflation and weak exports, the rating agency said.

US stocks edged lower on Monday, with investors taking a post-Thanksgiving pause as the holiday shopping season kicked in to high gear and retailers lured bargain hunters with Cyber Monday deals, reported Reuters. The tech-heavy Nasdaq Composite slipped 9.83 points or 0.07% to settle at 14,241.02. The S&P 500 fell 8.91 points or 0.20% to 4,550.43 and the dropped 56.68 points or 0.16% to settle at 35,333.47.