30th November Market Report

Daily Market Report:

The Indian Equity benchmark indices BSE Sensex and Nifty 50 were closed positive at the end of the day. BSE Sensex was up by 153.43 points to 57260.58 and Nifty was up by 27.50 points to 17053.95

Kotak Bank, HCL, HDFC Life were the top gainers.

For Nifty immediate resistance for the index at the 17,150-160 range, with supports at 16,930.

Financials aren’t falling because of fundamentals. It is because they are over-owned

First, of the 10 most over-owned companies by foreign institutional investors (FIIs) in India, six are financials. 

Over-ownership implies that the weight of these businesses in FIIs’ portfolio is higher than the weight of that respective company in an index. Other than State Bank of India, all the banks in the Bank Nifty Index are over-owned by FII.

RBI to shortly start resolution process of Reliance Capital

Asian Paints Ltd on Monday said it will invest Rs.960 crore to expand the manufacturing capacity of its facility situated at Ankleshwar in Gujarat.

NTPC Renewable Energy Limited, a wholly owned subsidiary Company of NTPC Limited, signs PPA for 325 MW solar projects

RIL share price rises 3% after Jio increases prepaid mobile tariff rates by 20%

Adani Ports and Special Economic Zone share price fell nearly 5 percent in the early trade on November 29 after Morgan Stanley Capital International (MSCI) dropped the company from some of its climate Change indices.

Four Central Public Sector Enterprises (CPSEs) pay Rs.5,155 crore dividend to government

Star Health IPO Rakesh Jhunjhunwala backed issue to open today

India has no plans to recognise Bitcoin as currency: Nirmala Sitharaman

Open Interest:

On open interest, Maximum put open interest was seen at 17000 followed by 16000. Maximum call open interest was seen at 18000 followed by 17500.

Put Writing seen at 17000 followed by 16000

Call Writing seen at 17000 followed by 17500

India VIX up by 0.13% from 20.80 to 20.83 level.

Participant wise open interest data of FII Shows call selling in the index is more than put selling. FII's were 65.70% long in index future was increased compared to the previous day.

In Cash Market, FII's are net sellers 3332.21 crores, and DII's are net buyers 4611.41 crores.

Options data suggests a trading range between 16800 to 17300

Global Markets:

U.S Markets were closed positive at the end of the Day 

Dow Jones industrial average was up by 236.60 points or 0.68% to 35135.94

S&P 500 Index up by 60.65 points or 1.32% to 4655.27

Nasdaq Composite was up by 291.18 points or 1.88% to 15782.83

European markets were positive at the end of the day

Asian markets are mixed right now 07.30 IST

SGX Nifty trading 18 points higher to 17108  07.30 IST

SGX Nifty indicates a flat to positive opening for Indian markets.

Keep an eye on these Economic Data:

Eurozone Consumer Price Index (CPI) YoY Data at 15.30 IST

India Gross Domestic Product (GDP) Quarterly YoY Data after Indian market hours

U.S. CB Consumer Confidence Data after Indian market hours.

U.S. Fed Chair Powell Testifies after Indian market hours