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November 24, 2022 / 04:03 PM IST

Closing Bell: Sensex closes at record high, Nifty at 52-week high on expiry day

All the other sectoral indices ended in the green with IT and oil & gas up 1-2 percent.

  • IndexPricesChangeChange%
    Sensex62,600.57-234.03 -0.37%
    Nifty 5018,630.25-70.80 -0.38%
    Nifty Bank43,286.30-46.65 -0.11%
    Nifty 50 18,630.25 -70.80 (-0.38%)
    Tue, Dec 06, 2022
    Biggest GainerPricesChangeChange%
    Bajaj Finance6,723.0062.55 +0.94%
    Biggest LoserPricesChangeChange%
    HCL Tech1,109.75-21.10 -1.87%
    Best SectorPricesChangeChange%
    Nifty PSU Bank4262.90111.00 +2.67%
    Worst SectorPricesChangeChange%
    Nifty IT30526.80-364.70 -1.18%


  • November 24, 2022 / 04:17 PM IST

    Kunal Shah, Senior Technical Analyst at LKP Securities

    The BANK NIFTY bulls came back with full strength and knocked out the bears from the resistance zone of 42,600-42,800 on the last day of monthly expiry. It has witnessed a fresh breakout on the daily chart, pushing it higher towards the level of 44,000 in the near term. The lower-end support is now visible at 42,600 which will act as a cushion for the bulls. The broader participation will resume in markets helping it to scale on the higher end.
     

  • November 24, 2022 / 04:16 PM IST

    Deepak Jasani, Head of Retail Research, HDFC Securities

    Nifty closed at its all time closing high on Nov 24, while Sensex touched all time high. Overnight positive cues from the US led to this bullishness. A late surge post 2:50 pm resulted in Nifty closing 1.19 percent or 216.9 points higher at 18484.1. Volumes on the NSE were however subdued while advance-decline ratio surged to 1.46:1. Broad market indices underperformed. IT and Oil & Gas stocks did well on rotational buying. Global stocks edged up in the wake of Federal Reserve minutes that revealed most policymakers expect to slow the pace of interest-rate increases. Nifty could now head towards its all time high of 18,604 while 18,325-18,410 band could provide support.
     

      Deepak Jasani, Head of Retail Research, HDFC Securities  

 Nifty closed at its all time closing high on Nov 24, while Sensex touched all time high. Overnight positive cues from the US led to this bullishness. A late surge post 2:50 pm resulted in Nifty closing 1.19 percent or 216.9 points higher at 18484.1. Volumes on the NSE were however subdued while advance-decline ratio surged to 1.46:1. Broad market indices underperformed. IT and Oil & Gas stocks did well on rotational buying. Global stocks edged up in the wake of Federal Reserve minutes that revealed most policymakers expect to slow the pace of interest-rate increases. Nifty could now head towards its all time high of 18,604 while 18,325-18,410 band could provide support. 
 
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  • November 24, 2022 / 04:13 PM IST

    Rupak De, Senior Technical Analyst at LKP Securities

    Nifty started higher and extended gains during the day. The daily momentum indicator RSI remains in a positive crossover. The trend looks positive as long as it sustains above 18350 Going forward, 18350 may provide immediate support. On the higher end, resistance is visible at 18650, above which Nifty may move up further.

  • November 24, 2022 / 04:04 PM IST

    Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas:

    The Nifty witnessed strong momentum towards the end of the session on November 24. The hourly upper Bollinger, which had become flat in the last session, expanded today along with the price action. Thus the index went on to cross the hurdle of 18450. 

    The benchmark index is now eyeing the all-time high of 18,604. This will be the make or break level to be monitored on a closing basis, which will determine further course of action not only from a short term perspective but also for the medium term. The immediate support zone shifts higher to 18,400-18,380.

  • November 24, 2022 / 03:57 PM IST

    Record high close for Bank Nifty at 43,075.50

    Mohit Nigam, Fund Manager & Head - PMS, Hem Securities

    We believe that Indian markets are trading in a positive trend backed by strong corporate earnings, easing supply constraints, cooling commodity prices and strong demand across various sectors. Investors should use any significant dip as a strong opportunity to buy in these markets.

    On the technical front, immediate support and resistance in Nifty 50 are 18300 and 18600 respectively. Immediate support and resistance in Bank Nifty are 42500 and 43500 respectively.

      Record high close for Bank Nifty at 43,075.50  

 Mohit Nigam, Fund Manager & Head - PMS, Hem Securities 

 We believe that Indian markets are trading in a positive trend backed by strong corporate earnings, easing supply constraints, cooling commodity prices and strong demand across various sectors. Investors should use any significant dip as a strong opportunity to buy in these markets. 

 On the technical front, immediate support and resistance in Nifty 50 are 18300 and 18600 respectively. Immediate support and resistance in Bank Nifty are 42500 and 43500 respectively.
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  • November 24, 2022 / 03:56 PM IST

    Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities

    Investors wound up their short positions on the expiry day, triggered by US Fed minutes indicating a moderate pace of rate hikes going ahead that eventually propelled benchmark indices Sensex & Nifty to new all-time highs. 

    Other positive catalysts such as the WTI crude oil prices staying sluggish and the falling US Dollar index and yields improved the risk appetite of investors leading to a broad-based buying. 

    Technically, on daily charts the Nifty has now formed a long bullish candle and is also holding higher high and higher low formation on daily and intraday charts which is broadly positive. 

    For traders, as long as the index holds the support of 18,400, there are chances it could hit 18,600-18,700 levels. On the other hand, below 18,400 the uptrend would be vulnerable.

  • November 24, 2022 / 03:48 PM IST

    Sensex touches all-time high of 62,405.65; ends at record-high close of 62,272.68

    Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
    "Two triggers assisted the Sensex rally to record highs. One, in the mother market US, the market construct turned favourable with rising equities, declining bond yields and falling dollar. Two, macro developments in India show steady rise in credit growth and capex indicating strong economic recovery. Along with this, sharp correction in crude is a big positive. This has facilitated this Sensex rally led by large-caps, mainly the HDFC twins, Infosys, TCS and RIL."

      Sensex touches all-time high of 62,405.65; ends at record-high close of 62,272.68  

 Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services 
"Two triggers assisted the Sensex rally to record highs. One, in the mother market US, the market construct turned favourable with rising equities, declining bond yields and falling dollar. Two, macro developments in India show steady rise in credit growth and capex indicating strong economic recovery. Along with this, sharp correction in crude is a big positive. This has facilitated this Sensex rally led by large-caps, mainly the HDFC twins, Infosys, TCS and RIL."
  • November 24, 2022 / 03:42 PM IST

    Record-high close for Nifty at 18,484.10

    Vinod Nair, Head of Research at Geojit Financial Services said

    "Led by broad-based buying, domestic indices witnessed solid gains as investors digested the latest FOMC meeting minutes, which hinted that the rate hike cycle may be slowing down. The optimism was further boosted by falling crude prices and the declining dollar index. Crude oil prices dropped over talks of a possible price cap on Russian oil and a rise in US product stockpiles"
     

     Record-high close for Nifty at 18,484.10  

 Vinod Nair, Head of Research at Geojit Financial Services said 

 "Led by broad-based buying, domestic indices witnessed solid gains as investors digested the latest FOMC meeting minutes, which hinted that the rate hike cycle may be slowing down. The optimism was further boosted by falling crude prices and the declining dollar index. Crude oil prices dropped over talks of a possible price cap on Russian oil and a rise in US product stockpiles" 
 
  • November 24, 2022 / 03:41 PM IST

    Rupee Close:

    Indian rupee ended 23 paise higher at 81.62 per dollar against previous close of 81.85.

  • November 24, 2022 / 03:38 PM IST

    Market Close: Benchmark indices ended higher with Sensex hitting fresh record high and Nifty crossing 52-week high.

    At Close, the Sensex was up 762.10 points or 1.24% at 62,272.68, and the Nifty was up 216.80 points or 1.19% at 18,484.10. About 1886 shares have advanced, 1494 shares declined, and 133 shares are unchanged.

    Apollo Hospitals, HDFC Life, BPCL, Infosys and Tata Consumer Products were among the top Nifty gainers, while losers included Cipla, Coal India, Kotak Mahindra Bank, Tata Motors and Bajaj Finance.

    All the other sectoral indices ended in the green with IT and oil & gas up 1-2 percent.

    The BSE midcap index rose 0.5 percent and smallcap index up 0.4 percent.

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  • November 24, 2022 / 03:29 PM IST

    USFDA Inspection of the Company’s Mandideep Unit-1 facility 

    We would like to inform you that the U.S. FDA inspected Lupin’s Mandideep Unit-1 facility from November 14, 2022 to November 23, 2022. The inspection of the facility closed with issuance of a Form483 with eight observations each for the Drug Product facility and API facility at the site, Luoin said in its release. 

    Lupin was quoting at Rs 718.05, down Rs 0.75, or 0.10 percent.

  • November 24, 2022 / 03:27 PM IST

    India Vix down over 4% as Nifty inches towards record close. The Nifty Bank index rallies for third day in a row and scales to new record high.