The BSE Sensex trades flat around 80,000, while the NSE Nifty 50 hovers near 24,200
Stock Market Today (November 27, 2024) – The BSE Sensex is trading flat around the 80,000 mark, while the NSE Nifty 50 index hovers near 24,200 levels. Broader market indices, including the Nifty Midcap 100 and Smallcap 100, showed positive momentum.
Sectoral Performance
Among sectoral indices, the majority traded in negative territory. Only the auto, financial services, IT, and metal indices registered gains. Other sectors faced selling pressure.
Nifty 50 Stock Movers
On the Nifty 50, Coal India emerged as the top gainer, rising nearly 2 percent. Other gainers included Mahindra & Mahindra, Wipro, Tech Mahindra, and Kotak Bank, each advancing over 1 percent. On the downside, Cipla, Bharti Airtel, IndusInd Bank, and Tata Consumer Products fell by around 1 percent each.
Adani Group Performance
Shares of Adani Group companies rebounded, gaining up to 4 percent, after Adani Green denied media allegations involving bribery and corruption. The group clarified that the charges related to wire and securities fraud, alleviating some investor concerns. This recovery followed Fitch and Moody’s recent downgrade of the group’s outlook from ‘Stable’ to ‘Negative’, citing heightened legal and governance risks.
NTPC Green Listing
Shares of NTPC Green debuted on the exchanges today at Rs 111.60 per share, reflecting a modest premium of 3.33 percent over the issue price of Rs 108. Despite the subdued start, the stock surged 13.65 percent, hitting the upper circuit of Rs 122.75 within half an hour of listing on the BSE.
Entrepreneurial Wealth Insights
The HSBC Global Entrepreneurial Wealth Report 2024 revealed that 82 percent of Indian entrepreneurs with investable assets of at least $2 million prioritize investments in stocks, bonds, and real estate.
Primary Market Activity
IPO Openings:
Abha Power and Steel IPO (SME) and Apex Ecotech IPO (SME) began accepting subscriptions today.
Ongoing IPOs:
Rajesh Power Services IPO (SME) closes bidding today.
Rajputana Biodiesel IPO (SME) continues its second day of bidding.
Allotments Scheduled:
Allotments for Enviro Infra Engineers IPO, Lamosaic India IPO, and C2C Advanced Systems IPO (SME) are expected today.
Global Market Trends
Asian markets exhibited mixed trends as Nikkei, Shanghai Composite, and Kospi dropped up to 0.7 percent. Meanwhile, Hang Seng, Taiwan, and Straits Times recorded marginal gains. These movements occurred amidst investor caution over Trump’s proposed tariff hikes targeting China, Mexico, and Canada.
In the US, indices performed well overnight:
The Dow Jones gained 124 points, closing at a record high.
The S&P 500 and NASDAQ rose 0.5 percent each.
Commodity Updates
Crude Oil: Prices eased following reports of an Israel-Hezbollah ceasefire, with WTI futures falling below $68 per barrel and Brent Crude dipping to $72 per barrel.
Gold: Consolidated around $2,650 per ounce, reflecting stability in safe-haven demand.
FII and DII Activity
On November 26:
Foreign institutional investors (FIIs) net purchased shares worth Rs 1,157.70 crore.
Domestic institutional investors (DIIs) net sold stocks worth Rs 1,910.86 crore.
Market Summary
After a marginal dip in the previous session, the market remained subdued today, with mixed performances across indices and sectors. Positive trends in Adani Group stocks, IPO activity, and global market cues continue to influence sentiment. Investors remain focused on upcoming macroeconomic data, including the US FOMC minutes and Q3 GDP figures, as key indicators of market direction.
