Stock Market Highlights: Nifty forms long negative candle. What traders should do on

S&P 500, Nasdaq open lower as China Covid cases tick higher

The S&P 500 and the Nasdaq opened lower on Monday as Covid-19 flare-ups in China reignited concerns about slowing growth, while a jump in Disney’s shares following Bob Iger’s surprise comeback as chief executive supported the Dow.

Lighthouse India to sell Nykaa shares worth Rs 335 crore ($41 mn) via block deal tomorrow

Adani group’s Rs 493-cr open offer for NDTV to start from Tuesday

Adani group’s open offer to acquire an additional 26 per cent stake in the media firm New Delhi Television (NDTV) from the market would start from Tuesday. The offer, for which a price band of Rs 294 per share has been fixed, will open on November 22 and closes on December 5, said a notice by JM Financial, the firm managing the offer on behalf of Adani Group firms.Markets regulator Sebi on November 7 granted its approval to the proposed Rs 492.81 crore-open offer.The conglomerate, run by India’s richest man Gautam Adani, in August acquired a little-known company that lent over Rs 400 crore to NDTV’s founders more than a decade ago in exchange for warrants that allowed the company to acquire a stake of 29.18 per cent in the newsgroup at any time.

Tech View: Nifty forms long negative candle. What traders should do on Tuesday

Headline equity index Nifty today formed a long negative candle on the daily chart, indicating ongoing downward correction in the market. The index has been making lower highs on the daily scale the last three trading sessions. “Now, it has to cross and hold above 18,200-18,250 zones, for an up move towards 18,350 then 18,444 zones whereas supports are placed at 18,088 and 17,950 zones,” said Chandan Taparia of Motilal Oswal. Option data suggests a broader trading range in between 18,000 to 18,600 zones while an immediate trading range in between 18,000 to 18,400 zones.

Gold declines Rs 408; silver drops Rs 594

Gold price in the national capital declined Rs 408 to Rs 52,847 per 10 grams on Monday amid a fall in prices of precious metal in overseas markets, according to HDFC Securities. In the previous trade, the yellow metal had settled at Rs 53,255 per 10 grams.Silver also dropped by Rs 594 to Rs 61,075 per kilogram.In the international market, gold was trading in red at USD 1,745.5 per ounce while silver was down at USD 20.83 per ounce.

S&P upgrades Axis Bank to BBB- from BB+, outlook stable

Nifty started lower following a weak global cue and remained sideways during the day. On the lower end, it slipped towards the previous swing high (18100). The trend looks a bit weak with a rounding top formation on the daily timeframe. The bearish crossover in RSI with a negative divergence suggests weak momentum. Going forward, 18100 may provide immediate support below which the index may drift down towards 17750. On the higher end, resistance is visible at 18200/18450.

– Rupak De, Senior Technical Analyst at LKP Securities

Closing Bell: Sensex sheds 519 points in choppy trade, Nifty below 18,200; PNB jumps 4%, Nykaa cracks 5%

Indian Overseas Bank appoints Sanjay Vinayak Mudaliya as Executive Director for 3 years w.e.f January 1, 2023

Price as on 21 Nov, 2022 02:56 PM, Click on company names for their live prices.

European stocks slip on worries about China’s COVID curbs

Aarti Industries & Deepak Fertilizers join hands in a Rs 8,000 cr nitric acid supply arrangement

Top gainers from the NBFC pack

Price as on 21 Nov, 2022 01:49 PM, Click on company names for their live prices.

GLOBAL EQUITY STRATEGY: GOLDMAN SACHS SAYS BEAR MARKET IS NOT OVER

Don’t indulge in speculative bets is the first thing I would say. 99.5% of the market is speculative today. You need to move away from that. You need to find a way to move away from that. If you are a serious investor in the market, you need to work hard to even lose money in this market. You may buy stocks that will give you absolutely no returns. But if you land up buying quality stocks, you will make good money.

– Raamdeo Agrawal

India’s growth to slow in 2023 on fading reopening impact: Goldman Sachs

Where are steel prices headed?

Check out the top gainers from media & entertainment pack

Price as on 21 Nov, 2022 01:04 PM, Click on company names for their live prices.

Ahluwalia Contracts secures order for construction at Assam for Rs 120.23 crore. The order inflow during the FY 2022-23 stands at Rs 3765 crore, till date.

Price as on 21 Nov, 2022 12:58 PM, Click on company names for their live prices.

FIVE STAR BUSINESS FINANCE REBOUNDS AFTER SLOW START

The operator of online insurance aggregator Policybazaar takes a 26.72% stake in YKNP Marketing Management for $2 mln, giving it access to banks in UAE

Price as on 21 Nov, 2022 12:43 PM, Click on company names for their live prices.

GOVT KEEPS ON HIND COPPER DISINVESTMENT ON HOLD: ET

Sources say that Govt is against complete disinvestment of #HindustanCopper as it will lead to private sector monopoly in the sector: ET

Tokyo shares edge up after lacklustre pre-holiday trade

Tokyo shares ended higher Monday after trading in a narrow band as investors sat on their hands ahead of the Thanksgiving holiday in the United States. The benchmark Nikkei 225 index added 0.16 percent, or 45.02 points, to 27,944.79, while the broader Topix index rose 0.28 percent, or 5.54 points, to 1,972.57.

Shares of Indian Energy Exchange rose 5.6% to Rs 146.15 in Monday’s intraday trade after it announced that its board will consider a buyback proposal on November 25. In its regulatory filing, IEX said, “we wish to inform you that a meeting of the board of directors of the company is scheduled to be held on Friday, November 25, 2022, inter-alia, to consider a proposal for buyback of fully paid-up equity shares of the company.”

Price as on 21 Nov, 2022 11:25 AM, Click on company names for their live prices.

“India is a small player at this point of time. Story might be different 10 years later.”

All you need to know about the Sensex rejig that will become effective from December 9

These stocks tanked 5% each in trade today

Price as on 21 Nov, 2022 11:04 AM, Click on company names for their live prices.

Avanti Feeds Concall Takeaways

Check out the top losers from the IT pack

Price as on 21 Nov, 2022 10:29 AM, Click on company names for their live prices.

India’s removal of export duty on steel intermediates “immensely helps” to compete in international markets, amid a slowdown in steel consumption globally, JSW Steel Chief Financial Officer Seshagiri Rao told Reuters on Monday.

Price as on 21 Nov, 2022 10:27 AM, Click on company names for their live prices.

The short covering rally in the closing hour brought in some cheer on Friday, but the inability to cross 18350 with the burst, continues to keep the trend in the clutches of the bears. A breakout move is due though, and we will look to push beyond 18320/50-18190 band to play a directional move. The lower band will be keenly watched for signs for bargain hunting, with supports below seen at 18000-17850-17650. Upside moves will look for push beyond 18480 se momentum.

– Anand James – Chief Market Strategist at Geojit Financial Services

Lenders to Jet Airways are keeping open the option of selling 11 planes of the defunct carrier, effectively pushing the airline into liquidation, as they are increasingly frustrated with the delay in executing the resolution plan.

Price as on 21 Nov, 2022 10:04 AM, Click on company names for their live prices.

Archean Chemical Industries lists at 11% premium over IPO price

Archean Chemical Industries (ACIL) made a strong debut on Dalal Street as its shares on Monday got listed at Rs 450 apiece on NSE, a premium of 11% over its issue price of Rs 407. The speciality marine chemicals player debuted at a premium of 10% per cent at Rs 449 as against the given issue price on BSE.

These 10 stocks gain in morning deals even as indices fall

Price as on 21 Nov, 2022 09:41 AM, Click on company names for their live prices.

SENSEX FALLS OVER 450 POINTS

There is a strong tailwind and a strong headwind which can sway the market now. The tailwind is the sharp decline in Brent crude to $86.75, which is a big macro positive for India. But this tailwind is unlikely to take the market higher since the headwind in the form of steadily declining momentum in the recent market uptrend, is very strong. The optimism driven by the recent decline is US inflation has run its course and the market is likely to wait for further data on the direction of US inflation and interest rates. So, this is the time to play defensively rather than taking risky shots at the goal. Cautious defensive games can be a good short-term strategy.

– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Tata Steel, PNB among most active stocks on NSE

Price as on 21 Nov, 2022 09:19 AM, Click on company names for their live prices.

Opening Bell: Sensex falls over 300 points, Nifty below 18,250; Easy Trip Planners rallies 20%, Nykaa sheds 3%

Pre-open session: Sensex slips over 150 points; Nifty below 18,250

Asian markets fret on China COVID outbreaks, Fed outlook

Asian share markets turned hesitant on Monday as investors fretted about the economic fallout from fresh COVID-19 restrictions in China, while bonds and the dollar braced for more updates on U.S. monetary policy.

SGX Nifty signals a negative start

Nifty futures on the Singapore Exchange traded 51.5 points, or 0.28 per cent, lower at 18,296, signaling that Dalal Street was headed for a negative start on Monday.

Tech View: Nifty forms red candles on daily and weekly charts

Indicating support-based buying at the 18,200 zones, the headline index Nifty today made a bearish candle with a long lower shadow on the daily chart. The red candle was seen on the weekly chart as well, but no major sign of trend reversal was noticed.

Tokyo shares open higher after Wall Street gains

Tokyo shares opened higher Monday as bargain hunters stepped into the market following gains in US stocks. The benchmark Nikkei 225 index added 0.16 percent, or 44.72 points, to 27,944.49 in early trade, while the broader Topix index rose 0.28 percent, or 5.5 points, to 1,972.53.

US stock market: S&P 500 ends higher, led by defensive shares

Wall Street’s benchmark S&P 500 index ended higher on Friday in a choppy trading session, as gains in defensive shares overshadowed energy declines, and investors shrugged off hawkish comments from Federal Reserve officials about interest rate hikes.

Oil dips near 2-month lows as supply concerns ease

Oil prices hovered near two-month lows on Monday as supply fears receded while concerns over China’s fuel demand and rising interest rates weighed on prices.

Rupee falls by 10 paise to 81.74 against USD

The rupee depreciated by 10 paise to close at 81.74 against the US currency on Friday, marking its third straight day of losses amid a lacklustre trend in domestic equities and firming crude oil prices.

Sensex, Nifty on Friday

The 30-share Sensex ended 87 points lower at 61,663, while its broader peer Nifty 50 settled just above the 18,300 level.

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