Indian Share Markets Open Flat; NTPC & Bajaj Auto Top Gainers

Fri, 27 Nov 09:30 am

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Asian stock markets fell slightly today, pulling back from record highs hit earlier this week, amid renewed doubts about a highly-anticipated coronavirus vaccine and concern about the economic impact from the pandemic.

The Nikkei is trading down by 0.1% and the Hang Seng is trading lower by 0.4%.

US stock markets were closed on Thursday for the Thanksgiving holiday and will trade on a partial schedule later today.

Back home, Indian share markets have opened the day on a flat note, following the trend on SGX Nifty.

Market participants will be tracking India's Q2 GDP data, which is scheduled to be released due later today.

From an unprecedented 23.9% contraction in the June quarter, the economy is seen shrinking 8.6% in the September quarter, as per the central bank.

The BSE Sensex is trading up by 24 points. The NSE Nifty is trading higher by 16 points.

NTPC and Asian Paints are among the top gainers today.

The BSE Mid Cap index and the BSE Small Cap index have opened the day up by 1% and 0.9%, respectively.

Sectoral indices are trading on a mixed note with stocks in the capital goods sector and oil & gas sector witnessing maximum buying interest.

Investors are also tracking FMCG stocks today after market research agency Nielsen said that India's FMCG market will contract by 1-3% in the 2020 calendar year, as headwinds such as commodity inflation outweigh tailwinds.

The rupee is trading at 73.76 against the US$.

Gold prices for the latest contract on MCX are trading down by 0.1% at Rs 48,485 per 10 grams.

Domestic gold and silver prices edged higher yesterday though the gains were moderate.

A rally in equities after upbeat covid vaccine trial results from Pfizer, Moderna and AstraZeneca has weighed on gold prices.

So far this week, domestic gold prices are down Rs 1,600 per 10 grams.

To know more about gold, you can check out our detailed article on investing in gold here: How to Invest in Gold?

Speaking of the current stock market scenario, note that Indian share markets have climbed back to their highest levels since the pandemic began.

The Sensex is trading above the 44,000-mark. Meanwhile, the Nifty is trading near the psychological 13,000-mark.

The smallcap index is up as much as 90% since 23 March.

As per Richa Agarwal, lead smallcap analyst at Equitymaster, there could still be a lot of steam left to this smallcap rebound rally.

The smallcap index is still 20% away from the lifetime highs in January 2018.

Have a look at the history of previous smallcap crashes and rebounds over the last two decades...

As you can see, every big fall in the smallcap index was followed by a sharp up move, a minimum gain 200%. Twice the rebounds were just shy of touching 300%.

Richa believes if you focus on the quality of business, margin of safety in valuations, and an optimum asset allocation, you are likely to create huge wealth for yourself.

In latest developments from the IPO space, as per a leading financial daily, nearly half a dozen unlisted companies are lining up to launch their initial public offer (IPO) next month.

Companies like Suryoday Small Finance Bank, ESAF Small Finance Bank, Nazara Technologies, RailTel, Burger King, Kalyan Jewellers and Antony Waste Management are among those that are conducting road shows and planning IPOs in December, The Economic Times mentioned in a report citing bankers.

So far this year, 12 companies have raised nearly Rs 250 billion through IPOs compared with Rs 123.6 billion raised by 16 companies in 2019.

Some of the companies that had deferred their IPO plans, now want to tap the market again on robust investor appetite, said bankers.

How the above IPOs sail through remains to be seen. Meanwhile, we will keep you updated on the latest developments from this space.

Speaking of IPOs, in one of his videos, Vijay Bhambwani shares his thoughts on the recent spate of IPOs and what it means for the market.

Tune in to the video to find out more:

Moving on to stock specific news...

Adani Green Energy is among the top buzzing stocks today.

The company said that it released the promoter pledge of 33.5 million equity shares on Thursday.

Vistra ITCL India released 33.5 million equity shares of the company. Vistra ITCL is a security trustee acting on behalf of one of the lenders of the company.

As a condition of availing the financial facility, one of the promoter entity had pledge the shares in favour of Vistra ITCL.

The company's consolidated net profit dropped 81.2% to Rs 188 million on a 11.1% fall in net sales to Rs 6 billion in Q2 September 2020 over the year-ago period.

Adani Green Energy share price has opened the day up by 4.2%.

Speaking of Adani Green, note that shares of the company have seen a meteoric rise and are up almost 10x in the last one year.

The company is now the 17th or the 18th largest company in India by market value.

In his latest video, Co-head of Research at Equitymaster, Rahul Shah, discusses the hype around Adani Green Energy and analyses whether it is justified.

Tune in to the video to find out more:

In news from the engineering sector, the Rs 380 billion Murugappa Group's Tube Investments will allot shares to Azim Premji Trust, SBI Mutual Fund, subject to shareholder approval.

The company has approved the issue of equity shares worth Rs 3.5 billion.

The shares will be allotted on a preferential/private placement basis to non-promoter entities.

Azim Premji Trust will be allotted 2,733,360 equity shares at Rs 731.70 and inclusive of a premium of Rs 730.70 per equity share. The total investment would be around Rs 2 billion.

Meanwhile, the SBI-focused equity fund will be alloted 1,503,348 equity shares at Rs 731.70 and inclusive of a premium of Rs 730.70 per equity share, aggregating to Rs 1.1 billion and for SBI Magnum mid-cap fund, 546,672 equity shares at Rs 731.70 and inclusive of a premium of Rs 730.70 per equity share, aggregating to Rs 399.9 million.

In other news, CG Power and Industrial Solutions on Thursday said Tube Investments of India has acquired a controlling stake in it and now holds 50.62% stake of the company's paid-up share capital.

The company also said it has received Rs 5.9 billion from Tube Investments.

CG Power's board also issued 17,52,33,645 warrants, each carrying a right exercisable by the warrant holder to subscribe to one equity share per warrant within 18 months from allotment.

Tune Investments of India share price has opened the day up by 2.3%.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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Indian Share Market Update: Top Gainers and Losers