Share price of Tata Motors advanced 0.85% to Rs 711.60 during the intra-day trade on Monday. The company reported a monthly sales figure of 46,068 units in the domestic market in the month of November 2023. During the same period last year, Tata registered a monthly volume of 46,037 units. Total sales for MH&ICV Domestic & International Business in November 2023, including trucks and buses, stood at 12,895 units compared to 12,673 units in November 2022.

“China’s economic growth is steadily decelerating, prompting a recent downgrade from stable to negative by Moody’s. However, this action reflects a lagging indicator of an already entrenched trend. Despite various stimulus efforts, the overall outlook for the Chinese economy remains negative. In stark contrast, India’s economy is surging, and its rapid expansion is likely to attract foreign investors, even amidst premium valuations,” said Sunil Nyati, Managing Director of Swastika Investmart.

Adani Enterprises and Adani Ports & SEZ are leading the gains on the NSE Nifty 50, with surges of 14% and 13.34% in their respective stock prices.

(Source: NSE)

The stock price of Adani Green Energy climbed 19% to Rs 1,340 after the company announced follow-on funding of USD 1.36 billion (Bn) to further boost its Construction Financing Framework to USD 3 billion, backed by a consortium of renowned international banks.

“The RBI MPC meeting later this week is expected to be a non-event from the policy rate perspective as the Central Bank is predicted to keep the repo rate unchanged for the fifth meeting in a row. While we do not expect the RBI to indicate a “dovish hold” in this meeting, we do expect the Central Bank to tone down its hawkishness as the global environment is less hostile as compared to the previous policy review in October 2023. Additionally, markets will eagerly watch for cues on liquidity management and RBI open market operations,” said Vikrant Mehta, Head – Fixed Income, ITI AMC.

The stock price of TVS Holdings soared 4.63% to Rs 6,382.3 following the news that the company has applied to the Reserve Bank of India (RBI) for the registration of the company as a Core Investment Company (CIC).

“The market is commencing the day on a positive note, carrying forward the momentum from yesterday’s impressive trading session. Nifty is presently trading at 20,846, indicating a gain of 160 points, while Bank Nifty stands at 47,150, showcasing a substantial increase of 718 points. In the Nifty segment, the 21000 Call strike is notable, holding an Open Interest (OI) of approximately 72 lakhs shares. Conversely, on the Put side, the 20500 strikes exhibit significant OI, amounting to around 73 lakhs shares. Meanwhile, in the Bank Nifty, there’s a strategic shift, with the 47000 Call strike holding meaningful OI at approximately 32 lakhs shares, while the 46000 Put strike boasts a sizeable OI of around 36 lakh shares. A ‘buy on dips’ strategy is recommended, supported by stability in global markets, a favorable trend in crude oil prices, and robust inflows from Foreign Institutional Investors (FII) and Domestic Institutional Investors (DII),” said Shrey Jain, Founder and CEO SAS Online.

(Source: NSE)

Adani Enterprises, Adani Ports, BPCL, SBI and Mahindra & Mahindra are leading the gains on the NSE Nifty 50.

The NSE Nifty 50 advanced 0.78% to hit a fresh high of 20,849.40, while the BSE Sensex soared 516.19 points to a record high of 69,381.31.

The NSE Nifty 50 advanced 0.71% to hit a fresh high of 20,834, while the BSE Sensex soared 471.32 points to a record high of 69,336.44.

The stock price of Ambuja Cements (ACL), the cement and building material company of the diversified Adani Group soared 5.57% to Rs 501 following the news that the company has completed the acquisition of Sanghi Industries (SIL). This strategic acquisition, valued at an Enterprise Value of Rs 5,185 Crores, enhances Ambuja Cement’s market presence underscoring Adani Group’s steadfast commitment to India’s housing and infrastructure development. With the acquisition funded entirely through internal accruals, ACL holds a controlling stake of 54.51% in SIL.

Share price of Axis Bank jumped 2.02% to Rs 1,148.35 after the Bank informed the exchanges that it has has allotted 3,29,645 equity shares of Rs 2/- each of the Bank on December 5, 2023 pursuant to exercise of stock options under its ESOP Scheme. The paid up share capital of the Bank has accordingly increased from Rs 6,16,54,73,064 (3,08,27,36,532 equity shares of Rs 2/- each) to Rs 6,16,61,32,354 (3,08,30,66,177 equity shares of Rs. 2/- each).

Stock price of Cupid soared nearly 6% to Rs 914 following the news that the company has acquired a new land parcel in an Industrial Area near Mumbai. The acquisition will enable Cupid to amplify its product on capacity by 1.5 mes the existing output.

Adani Enterprises, Adani Ports, BPCL, Axis Bank and Mahindra & Mahindra are leading the gains on the NSE Nifty 50 during the early trade on Tuesday.

“Nifty weekly contract has highest open interest at 21,000 for Calls and 20,500 for Puts while monthly contracts have highest open interest at 21,000 for Calls and 19,000 for Puts. Highest new OI addition was seen at 21,500 for Calls and 20,500 for Puts in weekly and at 21,500 for Calls and 20,500 for Puts in monthly contracts. FIIs increased their future index long position holdings by 29.23%, increased future index shorts by 0.89% and in index options by 38.85% in Call longs, 48.78% in Call short, 11.60% in Put longs and 60.00% in Put shorts,” said Anand James, Chief Market Strategist at Geojit Financial Services.

“The super Monday which delivered a 418 point rally in the Nifty is unlikely to be repeated with the same ferocity in the coming days. But the market construct stays bullish. The massive institutional buying of above Rs 7000 crores yesterday is a reflection of institutional confidence in the Indian market. It is important to understand that FPIs have reversed their selling strategy and have been consistent buyers during the last 7 days. There is accumulation happening in the frontline banking stocks. This, along with short covering and reasonable valuations, will keep this segment strong. The market has the potential to go up by another 5 % in the next many weeks. Beyond that valuations will get stretched inviting correction in the market,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

The NSE Nifty 50 opened at a record high of 20,808.9, up 0.59%, while the BSE Sensex opened at 69,168.53, up 303.41 points.

RVNL, HCL Tech, JSW Infrastructure, TVS Holdings and Cupid are among the top stocks to watch during today’s trading session.

“The USD/INR 27th December futures contract is currently consolidating within a narrow range. According to the daily technical chart, the pair is maintaining its position above the crucial moving average trend-line support level of 83.3300, with the RSI holding above the 50 levels. Despite positive divergence in the MACD, the pair remains range-bound. The daily technical chart indicates a support zone between 83.33-83.22, while resistance is identified at 83.55-83.70. The pair has been trapped in this tight range for an extended period. Forecasts for the upcoming week suggest that the pair is likely to continue trading within the range of 82.80-83.70. For potential trading opportunities, it is advisable to monitor the levels of 83.33-83.50 closely. A breakout above or below this range could provide significant direction for the pair,” said Rahul Kalantri, VP Commodities, Mehta Equities.

“The pivotal question for Nifty bulls is whether yesterday’s strong momentum can endure on Dalal Street throughout December. Despite concerns over the Israel-Hamas conflict and Chairman Powell’s cautious stance on potential rate cuts, the BJP’s decisive victories in state elections maintain a bullish outlook. Positive catalysts, including renewed FIIs optimism, a rise in GST collections, declining US inflation, and expectations of the Federal Reserve’s cautious approach, contribute to investor confidence. The upcoming RBI MPC meeting adds economic significance, with expectations for unchanged benchmark interest rates. Trade recommendations for Nifty and Bank Nifty are provided, along with a bullish outlook on specific stocks like BEL, Manappuram Finance, PI Industries, TATA Consumer, NTPC, and PNB. Additionally, a highlighted stock for purchase is PI Industries, emphasizing a momentum play strategy with specific entry, stop, and target points,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.

The NSE has added Indiabulls Housing Finance, India Cements, Zee Entertainment and Delta Corp to its F&O ban list for December 5, 2023.

Foreign institutional investors (FII) purchased shares worth net Rs 2,073.21 crore, while domestic institutional investors (DII) added shares worth net Rs 4,797.15 crore on December 4, 2023, according to the provisional data available on the NSE.

The US Dollar Index (DXY), which measures the value of the dollar against a basket of six foreign currencies, traded up 0.08% at 103.62.

WTI crude prices are trading at $73.28 down 0.33%, while Brent crude prices are trading at $78.19 down 0.24%, on Tuesday morning.

Foreign institutional investors (FII) purchased shares worth net Rs 2,073.21 crore, while domestic institutional investors (DII) added shares worth net Rs 4,797.15 crore on December 4, 2023, according to the provisional data available on the NSE.