Special 
Share Market News Today Updates, 30 November 2022: Sensex and Nifty traded higher for the seventh straight session today. Share Market Updates Today: Indian equity benchmarks scaled fresh all-time closing peaks on Wednesday, extending their gains for the seventh straight session ahead of gross domestic product (GDP) data and the US Federal Reserve Chairman Jerome Powell's speech, both due later in the day, for cues on future interest rate hikes. GDP Data for the July-September quarter (Q2) is scheduled to be released at 5:30 pm. The benchmark BSE Sensex closed above the 63,000 level for the first time ever; while the broader NSE Nifty settled above the 18,750 mark. Wall Street equities closed mostly lower overnight, ahead of Powell's speech about the outlook for the US economy and the labour market. Asian markets were mixed as Japan's Nikkei fell 0.21 per cent, while South Korea's Kospi rose 1.61 per cent, China's Shanghai Composite edged 0.05 per cent higher and Hong Kong's Hang Seng index jumped 2.16 per cent. Meanwhile, US crude futures rose 1.6 per cent on expectations of China easing strict Covid-19 controls and a fall in crude stocks, but concerns that OPEC+ would keep production unchanged in its meeting on December 4, capped gains. US stock futures traded flat, indicating a muted opening for Wall Street later today. S&P futures edged 0.19 per cent higher, Nasdaq futures rose 0.37 per cent and Dow Futures shed 0.01. Back home, foreign institutional investors bought net of Rs 1,242 crore equities on Tuesday, while domestic investors sold Rs 744 crore worth of shares, as per provisional NSE data.
Â
Here are the share market highlights:
D2C startup Melorra, which deals in jewellery, has clocked an annual recurring revenue of $100 million. Annual recurring revenue (ARR) refers to projected revenue that a company expects to receive from its customers in 12 months.
"We look forward to continuing to bring the lightweight, trendy gold jewellery to our customers and grow further, reaching $1 billion in revenue by 2026. Our customers are in every nook and corner of India. We put in all efforts to make modern jewellery, which is lightweight and easy on the pocket, available to everyone," Melorra Founder and CEO Saroja Yeramilli said.
In the coming session, index is likely open on a flat note tracking its Asian peers. Post initial blip one can expect supportive efforts to emerge around 18,550-18,570. Thus, intraday dip should be used to create long positions for target of 18,950.
The market will react to Jerome Powell's speech tomorrow, and auto sales figures will cause stock-specific movements. The market's attention will then shift to the Gujarat election and RBI policy. Globally, news flow from China may continue to cause volatility, while the movement of the dollar index, US bond yields, and crude oil prices will be other important factors. The only concern is that the market is overbought, which may lead to some pullback or consolidation at higher levels, but there are no major signs of weakness. Technically, Nifty has immediate targets of 18,888 and 19,000, while on the downside, 18,700 and 18,500 will act as strong support levels.
The Nifty made a new all-time during the day as the Nifty bulls remained at the helm during the day. Unlike the preceding two sessions, Nifty moved up smartly on Wednesday's trading. The momentum oscillator RSI has given a falling trend line breakout. The crucial short-term moving averages are sitting below the index value, confirming the positive trend. The trend is likely to remain bullish as long as it remains above 18,600 as the support level shifts higher. On the higher end, resistance is visible at 18,800/19,000.
The Bank Nifty index continued to trade in a narrow range between 43,000-43,500 where both the bulls and the bears are sitting on the lines. The undertone remains bullish and one should keep a buy-on-dip approach as long as it maintains the support of 42,800 on the downside. The index on the upside to resume the momentum must surpass the hurdle of 43,500 on a closing basis.
Zomato, IRFC, Suzlon, Excel, Yes Bank, Indian Hotels, JP Power, South Indian Bank, HUDCO and Voda Idea were among the most active stocks on NSE in terms of volume.
BSE 500 stocks such as Amber Enterprises India, Laurus Labs, Natco Pharma and Sheela Foam Ltd hit their 52-week lows today.
BSE 500 stocks such as Britannia, CCL, Cummins India, ESAB India, Exide India, HUDCO, ICICI Bank, IRFC, JK Lakshmi Cement, Lemon Tree, Mazdock, Union Bank and VBL hit their 52-week highs today.
The overall market breadth stood strong as 2,057 shares advanced while 1,439 declined on BSE. The market capitalization (m-cap) of BSE-listed companies stood at Rs 288.55 lakh crore.
14 out of the 15 sector gauges -- compiled by the National Stock Exchange -- settled in the green. Sub-indexes Nifty Auto, Nifty FMCG and Nifty Metal outperformed the NSE platform by rising as much as 1.72 per cent, 1.02 per cent and 1.81 per cent, respectively. In contrast, Nifty PSU Bank slipped 1.35 per cent.
Domestic market continued its quest for gains, boosted by FII inflows. However, markets will be sensitive to the Fed Chair's remarks, later in the day, as investors are expecting a moderation in the pace of rate hikes. An in-line comment will help to sustain the rally while loosening Covid-19 restrictions in China is providing relief to global markets.
Mid- and small-cap shares finished on a higher note as Nifty Midcap 100 gained 1.14 per cent and small-cap rose 0.61 per cent.
On the stock-specific front, M&M was the top Nifty gainer as the stock soared 4.05 per cent to close at Rs 1,307.95. Hindalco, Grasim, SBI Life and UltraTech Cement were also among the gainers. In contrast, IndusInd Bank, SBI, HCL Tech and ITC were among the top losers.
Sensex jumps 418 points or 0.67 per cent to hit a record closing of 63,099.65, Nifty moves 140 points or 0.75 per cent higher to touch a fresh closing peak of 18,758
Sensex jumps over 550 points to hit a fresh all-time high of 63,257.1, Nifty scales new peak of 18,801.45; M&M, Hindalco, Grasim, Bajaj Auto, PowerGrid among top gainers
Sub-indexes Nifty Auto rose 1.88 per cent, Nifty FMCG jumped 1.07 per cent, Nifty Metal gained 1.92 per cent, Nifty Consumer Durables moved 0.83 per cent higher and Nifty Oil & Gas climbed 0.90 per cent.
Sensex hits fresh all-time high of 63,115.43, Nifty scales fresh peak of 18,765.20; M&M, Hindalco, Grasim, Bajaj Auto, UltraTech Cement among top gainers
Shares of Timken India Ltd declined 4.28 per cent to trade at Rs 3,309. The stock touched a day low of Rs 3,295.75. A total of 9,083 shares changed hands today, amounting to a turnover of Rs 3.06 crore. The company's market capitalisation (m-cap) stood at Rs 24,889.88 crore.
Shares of Finolex Cables Ltd fell 4.06 per cent to trade at Rs 555.90. The stock touched a day low of Rs 554.25. A total of 31,000 shares changed hands today, amounting to a turnover of Rs 1.79 crore. The company's market capitalisation (m-cap) stood at Rs 8,501.90 crore.
Shares of ISGEC Heavy Engineering Ltd jumped 7.64 per cent to trade at Rs 510.05. The stock touched a day high of Rs 510.60. A total of 11,000 shares changed hands today, amounting to a turnover of Rs 55.24 lakh. The company's market capitalisation (m-cap) stood at Rs 3,750.37 crore.
Copyright©2025 Living Media India Limited. For reprint rights: Syndications Today
