The much-awaited IPO of NTPC Green Energy is set to be finalised today, with allotment messages being sent to investors. The grey market premium has seen a slight increase over the weekend, with the stock currently trading at a premium of 2.78%. The listing date is scheduled for November 27 and interested investors can check the official IPO allotment status on various platforms such as BSE, NSE, and Kfin Technologies. Additionally, the allotment status can also be checked easily by following certain steps.
The Dow and S&P 500 bounced back in late trading as investors eagerly awaited Nvidia's earnings release. The AI chipmaker's strong performance caused the stock market to rally, with other big tech companies like Apple and Meta Platforms also seeing gains. However, Target's disappointing results led to a drastic 21% drop in its stock, while Comcast's decision to spin off some of its cable channels caused a 1.5% increase in its share price. Additionally, the record-high performance of Bitcoin has given MicroStrategy a 10% jump in stock price, showing the growing influence of cryptocurrency in the business world.
Investors and market enthusiasts in India will have to take note of the stock market holiday list for 2024, as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) will be observing a holiday today in observance of the Maharashtra Assembly Election 2024. This public holiday applies to all divisions of the NSE and BSE, including the equity, derivative, and SLB segments. To stay informed and avoid any confusion, individuals can refer to the BSE website for the full list of stock market holidays in 2024. This sudden holiday was added to the schedule due to the announcement of the Maharashtra Election on November 20, 2024. The Indian stock market will resume trading on December 25, 2024, after the Christmas holiday.
With the US election results just around the corner, stock markets globally are experiencing volatility. Analysts have different opinions on whether a Trump or Harris win would be beneficial for India. While Nomura India sees Harris as net-positive, Emkay Global believes a Republican sweep would be good for India in terms of FPI positioning but the rally may not last. In terms of sectors, JM Financial predicts a rate cut by RBI in case of a Democrat win, which would benefit NBFCs, while a stronger dollar due to a Republican win could lead to a tighter interest rate regime in India.
Zee Business Managing Editor Anil Singhvi has shared his thoughts on the support and buy zones for the Nifty50 and Nifty Bank indexes in the upcoming trading session. He expects a support level to emerge for the Nifty50 at 23,675-23,800 and for the Nifty Bank at 50,800-51,000, while a strong buy zone is predicted at 23,500-23,625 for Nifty50 and 50,200-50,375 for Nifty Bank. The sentiment for the market is currently negative, with FII and global trends being negative and DII showing a positive stance. However, the F&O trend remains neutral and the Nifty put-call ratio has decreased. The volatility index, India VIX, has also increased.
Larsen & Toubro (L&T) continues to see strong growth, with consolidated revenue reaching Rs 61,555 crore in the latest quarter. The company's international revenues accounted for 52% of overall revenues, highlighting its global presence and success. Some big names to watch in the stock market today include L&T, Tata Power, and Biocon, with many expecting significant price movement. L&T also recently announced a new project in India, involving the construction of a 15.09 km elevated viaduct, 14 stations, and a 2.61 km depot, with a targeted completion date of 30 months.
Amidst a relentless sell-off and escalating geo-political crisis, Indian equities made a strong comeback today, with Nifty rising nearly 200 points from its day's low. The gains were driven by buying in IT and PSU bank stocks, with the overall market sentiment being boosted by multiple factors such as positive global cues and resilience in the IT sector. However, concerns about ongoing growth and geopolitical issues could still cause volatility in the IT and related sectors. Additionally, OMC stocks are also in focus due to spiked crude oil prices, and Bank of Baroda gained over 4 per cent on Citi's buy call. Stay updated with the latest Business news, Stock Market updates, tax estimates, and personal finance tips by following Zee Business on Twitter, Facebook, and YouTube.
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.
Premier Energies, a solar energy company, had a stellar debut on the stock market today with a 120% increase in stock price, doubling investors' money. The company's initial public offering received strong demand, and the stock opened at a price of Rs 990 on NSE, much higher than the issue price of Rs 450. Prominent business news sources had predicted a strong debut for the company, advising investors to apply for long-term gains and hold their positions with a stop loss. Premier Energies' business operations include manufacturing solar products, executing EPC projects, and providing other solar-related services.
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.