The S&P BSE Sensex rose 110.87 points or 0.13% to settle at 85,720.38 after touching an intraday high of 86,055.86, while the NSE Nifty 50 rose 10.25 points or 0.04% to close at a session high of 25,12,500. 26,310.45.
Here’s how analysts read the pulse of the market:
Indian markets stabilized after a volatile session where both Nifty and Sensex briefly touched record highs before profit booking began, said Vinod Nair, head of research at Geojit Investments, adding that retailers emerged as primary investors throughout the year.
“However, the overall market performance fell short of expectations, prompting a bearish turn towards the end of the year. Market participants are now keenly watching tomorrow’s GDP print along with key events like the US-India deal and the RBI policy meeting. These factors will play a crucial role in determining the near-term direction for equities,” Na said.
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US markets
US markets were closed on Thanksgiving, a national holiday in the country.
European markets
European markets traded modestly higher, with the STOXX 600 index up 0.1%, echoing a stronger tone across Asian equity markets, as gains in defense and tech companies offset losses in healthcare stocks.
With Fed rates largely seen as near certainty against a backdrop of a promising earnings season next month, the most likely direction for stocks is to the upside, analysts said.
Tech View
The Nifty remained sideways after a positive start, ended the day almost unchanged and on the day, the index hit a new all-time high after 14 months, but the breakout was muted, and the index moved sideways, said Rupak De, senior technical analyst at LKP Securities. average
“The RSI is in a bullish crossover, and the high-top, high-bottom structure appears intact, confirming the ascending chart pattern. At the lower end, support is placed at 26,000; unless this level is breached, the index may move towards 26,440/26,580. A buy-on-dips would be a better contrarian as the expected near-term strategy.” Sharp up-move,” Dee said.
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Most active stocks in terms of turnover
Gujarat Mineral Development (Rs 2,771 crore), HDFC Bank (Rs 2,582 crore), ICICI Bank (Rs 2,105 crore), RIL (Rs 1,532 crore), Ashok Leyland (Rs 1,420 crore), Bajaj Finance (Rs 1,251 crore) and Infosys (Rs 1,18 crore) were the most active stocks. Terms of value. High activity in a counter in terms of value can help identify counters with the highest trading turnover in a day.
Most active stocks in terms of volume
Vodafone Idea (traded shares: 61.99 crore), JP Power (traded shares: 9.12 crore), Ashok Leyland (traded shares: 9.02 crore), Yes Bank (traded shares: 6.55 crore), Reliance Power (traded shares: 6.54 crore), Gujarat Minerals 4 crore and Development Shares 4 crore. Motherson International (shares traded: 4.2 crore) was one of the most actively traded stocks on the NSE in terms of volume.
Stocks show interest in buying
Shares of Ashok Leyland, Saregama India, Reliance Infrastructure, Gujarat Mineral Development, Tejas Networks, Escorts Kubota and Tata Teleservices witnessed strong buying interest from market participants.
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52 week high
Over 122 stocks touched their 52-week highs today while 144 stocks slipped to their 52-week lows. Ashok Leyland, Tata Motors CV and RIL were among those touching their 52-week high.
Selling pressure is seen in stocks
Significant selling pressure was seen from Whirlpool India, Advent Hotels International, Netco Pharma, Bajaj Holdings, Radico Khaitan, Canes Technology and Motilal Oswal.
Sentiment Meter Neutral
Market sentiment was neutral. Out of 4,327 stocks traded on BSE on Thursday, 2,159 stocks declined, 1,989 stocks gained, while 179 stocks remained unchanged.
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(Disclaimer: Recommendations, suggestions, views and opinions given by experts are their own. These do not represent the views of Economic Times)
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