Indian stock markets will shut down on November 20, 2024, due to the Maharashtra Legislative Assembly elections. This announcement by the Election Commission of India has led to a one-day market closure, with trading and settlements not taking place on the National Stock Exchange and the BSE. The next market holiday will be on December 25 for Christmas, followed by the final market holiday for the year. However, the Multi Commodity Exchange (MCX) and National Commodity & Derivatives Exchange (NCDEX) will also be closed for the day, with contracts expiring on November 20 settling a day earlier. As for the market recap on November 18, 2024, both benchmark indices ended in the red due to weak global cues and cautious investor sentiment ahead of the state elections.
In a session marked by selling pressure in financial, auto, and FMCG shares, the Nifty50 and Sensex closed lower, with the Sensex down 0.3% and Nifty50 down 0.1%. The market saw only brief moves above the flatline, with the Nifty50 moving within the 24,900-25,000 range. The top losers in the Nifty50 basket included M&M, ICICI Bank, Cipla, Adani Enterprises, and Maruti Suzuki, while top gainers included Trent, Hindalco, HCLTech, Tech Mahindra, ONGC, and JSW Steel. Despite the overall weak market trend, midcap and smallcap shares bucked the trend, with gains of 0.5% each in the Nifty Midcap and Nifty Smallcap indices. Keep up with the latest stock market updates and all other business news on Zeebiz.com.
BTTV, one of India's leading business media companies, has launched a new market show called "Daily Calls." Through this show, investors can receive valuable insights and guidance from expert analysts on their market queries. With the current uncertain market conditions, this show aims to provide clarity and structure to investors on where and how to invest and build their portfolios. Don't miss the chance to tune in to BTTV's 'Daily Calls' for valuable market advice.
The Indian Energy Exchange (IEX) saw a sharp decline in its stock price today after a media report revealed that market coupling will be implemented by the end of the current fiscal or the beginning of the next fiscal. With the Power Ministry pushing for timely completion of the pilot study on market coupling, IEX stocks fell to an intraday low of Rs 209.40, marking a 12.47% decrease. This could have a significant impact on IEX's trading volumes and may potentially dry up its market share, causing concern among analysts.
Vodafone Idea has received positive feedback from Nuvama Institutional Equities, Dixon Technologies and ICICI Securities, indicating a potential path to survival for the struggling telecom company. While Bharti Airtel rolled out a tariff hike on Friday, Vodafone Idea is expected to witness inflows of over $278 million and Suzlon Energy saw a significant increase in share price. Market experts discuss the potential opportunities in the telecom sector on Business Today TV's daily market show, with Vodafone Idea likely to opt for a payment plan to ease financial burden.
After a holiday, domestic equity benchmarks Sensex and Nifty are predicted to open on a positive note in today's session. Both US and Asian markets also indicate positive trends. Here's a look at the global key indices, as well as the top gainers and losers of the Nifty 50 index. Additionally, a list of stocks that are likely to be in focus today is provided, including SBI, M&M, Vedanta Ltd, HZL, PNB, CIL, Bharti Hexacom, and more. Stay updated with the latest business news, stock market updates, and personal finance tips on Zee Business.
Despite a slow start, the Indian stock market closed on a positive note on Friday, with both Sensex and Nifty seeing gains. While the broader markets struggled, the frontline indices performed well, with Tata Motors leading the way for the automobile sector. The market was influenced by factors such as the Indian rupee's performance against the US dollar, rising crude oil prices, and the positive impact of the softer-than-expected jobs growth in the US.
Concerns about overvalued stocks in the mid-and small-cap segment sparked a sell-off on Wednesday. The Nifty Midcap 100 and Nifty Smallcap 100 saw their biggest intraday decline since January, following Sebi's warning about "irrational exuberance" in the equity market. The downward trend has been ongoing since February, with both indices losing significant value in the past month. Additionally, many stocks in the broader index are trading below their 100-day moving averages, indicating a bearish trend and potential sell signals for investors.
The shares of Life Insurance Corporation of India saw an 8% rise on February 8, crossing Rs 1,100 per share mark, ahead of the announcement of the company's quarterly results. LIC's board will meet today to review their December quarter earnings and interim dividend. With this surge, LIC's market capitalisation has surpassed Rs 7 lakh crore, making it the most valuable state-run company in India, with State Bank of India closely trailing behind.