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Market LIVE Updates: Indices trade flat amid volatility; PSU banks gain, power, FMCG drag – Moneycontrol

November 25, 2022 / 10:06 AM IST

Nifty likely to cross 18,950 mark in December, says Goldilocks’ Gautam Shah

On November 24, the Nifty 50 reported a record closing high of 18,484 and now remains 120 points away from its previous record high of 18,604.

November 25, 2022 / 10:03 AM IST

Market at 10 AMBenchmark indices were trading flat amid volatility.The Sensex was down 79.10 points or 0.13% at 62193.58, and the Nifty was down 18.20 points or 0.10% at 18465.90. About 1899 shares have advanced, 1006 shares declined, and 119 shares are unchanged.

Market at 10 AM     Benchmark indices were trading flat amid volatility.    The Sensex was down 79.10 points or 0.13% at 62193.58, and the Nifty was down 18.20 points or 0.10% at 18465.90. About 1899 shares have advanced, 1006 shares declined, and 119 shares are unchanged.

November 25, 2022 / 09:58 AM IST

BSE Smallcap index rose 0.5 percent supported by the India Tourism Development Corporation, Lloyds Steels Industries, Panama Petrochem

BSE Smallcap index rose 0.5 percent supported by the India Tourism Development Corporation, Lloyds Steels Industries, Panama Petrochem

November 25, 2022 / 09:51 AM IST

Punjab National Bank gets DIPAM approval for stake sale in UTI AMCPunjab National Bank has received approval of DIPAM, Ministry of Finance, for divestment of stake in UTI Asset Management Company in single or multiple tranches. As of now, PNB holds 15.22% stake in UTI AMC. The objective is to realise gain on investment.

Punjab National Bank gets DIPAM approval for stake sale in UTI AMC     Punjab National Bank has received approval of DIPAM, Ministry of Finance, for divestment of stake in UTI Asset Management Company in single or multiple tranches. As of now, PNB holds 15.22% stake in UTI AMC. The objective is to realise gain on investment.

November 25, 2022 / 09:49 AM IST

BSE Midcap index added 0.5 percent led by the IDBI, Bank of India, Tube Investments of India

BSE Midcap index added 0.5 percent led by the IDBI, Bank of India, Tube Investments of India

November 25, 2022 / 09:46 AM IST

F&O CuesEscorts is seeing a jump in open interest (62 percent rise) as a new expiry series starts. This has come along with increase in share price, which is a bullish sign.

F&O Cues     Escorts is seeing a jump in open interest (62 percent rise) as a new expiry series starts. This has come along with increase in share price, which is a bullish sign.

November 25, 2022 / 09:39 AM IST

Nifty PSU Bank index added over 1 percent led by the Punjab National Bank, Indian Overseas Bank, Punjab and Sind Bank

Nifty PSU Bank index added over 1 percent led by the Punjab National Bank, Indian Overseas Bank, Punjab and Sind Bank

November 25, 2022 / 09:33 AM IST

USFDA issues Form-483 with 8 observations for Lupin’s Mandideep facility

The USFDA has issued Form-483 with 8 observations for the drug product facility and API facility at Mandideep. 

The US drug regulator has inspected company’s Mandideep unit-1 facility during November 14-23, 2022. “We do not believe this will have an impact on disruption of supplies or the existing revenues from operations of this facility,” the company said.

Lupin was quoting at Rs 713.85, down Rs 4.65, or 0.65 percent on the BSE.

November 25, 2022 / 09:32 AM IST

SBI shares gain as company to raise up to Rs 10,000 croreState Bank of India (SBI) is considering to raise funds through issuance of infrastructure bonds worth up to Rs 10,000 crore during FY23, the country’s largest lender said in a regulatory filing on November 24.The total issuance includes Rs 5,000 crore greenshoe, and the bonds will be issued through public issue or private placement, SBI said.The state-owned bank’s Executive Committee of the Central Board will meet on November 29 to consider raising funds through infrastructure bonds.

SBI shares gain as company to raise up to Rs 10,000 crore     State Bank of India (SBI) is considering to raise funds through issuance of infrastructure bonds worth up to Rs 10,000 crore during FY23, the country's largest lender said in a regulatory filing on November 24.    The total issuance includes Rs 5,000 crore greenshoe, and the bonds will be issued through public issue or private placement, SBI said.    The state-owned bank's Executive Committee of the Central Board will meet on November 29 to consider raising funds through infrastructure bonds.

November 25, 2022 / 09:30 AM IST

Plutus Wealth Management LLP picks 1.5% stake in Keystone Realtors

Plutus Wealth Management LLP bought 17.1 lakh shares or 1.5% stake in the Rustomjee Group company Keystone Realtors at an average price of Rs 555.03 per share.

Keystone Realtors was quoting at Rs 560.10, up Rs 2.30, or 0.41 percent on the BSE.

November 25, 2022 / 09:29 AM IST

V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services:

Many favourable factors have come together to push the markets to record levels: the FOMC minutes  indicating smaller rate increases, the sharp correction in crude, FIIs turning buyers, reports of impressive credit growth and capex revival and even the bad news of record Covid spread in China is turning out to be good news for India since it will accelerate the China Plus One policy.

Nifty breaking the previous record high of 18,604 is only a question of time. The significant feature of this rally is that it is driven by heavy weights like HDFC Bank, ICICI Bank, HDFC, Infosys, TCS, HCL Tech and RIL which have strong fundamentals and this makes the rally healthy. But the market is unlikely to surge from the record highs since the valuation headwind will act as a restraint. 

Vast majority of retail investors, particularly the newbies, have missed out on this rally since their portfolios are largely mid-and small-cap oriented. As of now, the possibility of the rally spreading to the broader market is limited.

November 25, 2022 / 09:28 AM IST

Capri Global Holdings buys additional 6.06 lakh shares in Fino Payments BankCapri Global Holdings bought additional 6.06 lakh equity shares in Fino Payments Bank via open market transactions. These shares were bought at an average price of Rs 258.47 per share.

Capri Global Holdings buys additional 6.06 lakh shares in Fino Payments Bank     Capri Global Holdings bought additional 6.06 lakh equity shares in Fino Payments Bank via open market transactions. These shares were bought at an average price of Rs 258.47 per share.