The Indian stock market started the week with gains on Monday (17 November), but after that there was sluggishness in the Sensex and Nifty. However, buying in banking stocks took Bank Nifty to new highs. Sensex was up 165 points after opening. Meanwhile, Nifty was trading around 25,960, up 50 points. Bank Nifty was also up 240 points. Good growth was also recorded in the PSU Bank index. Media, realty, consumer durables, FMCG and private bank indices also saw good gains. Almost all the indices were trading with gains. The Sensex opened at 84,700, up 138 points from its previous close. Nifty opened 38 points higher at 25,948. Bank Nifty opened 179 points higher at 58,696. Meanwhile, in the currency market, the rupee strengthened by 4 paise to 88.71/dollar.
From tariff relief from America to corporate updates, quarterly results of many companies last week and huge fall in gold and silver, all these can decide the direction of the market. In early indications, GIFT Nifty is showing strength, while global markets are giving mixed signals.
Tariff relief from America
Tea, coffee and spice exporters have got big relief from America. In response to rising inflation, the Trump administration has significantly reduced tariffs on more than 200 food items. India’s exports in these categories are expected to increase, which may have a positive impact on FMCG and agricultural export companies.
India’s FTA discussions gain momentum
Commerce Minister Piyush Goyal said India is actively negotiating free trade agreements with several other countries, including the US, EU and New Zealand. If these agreements go ahead, Indian industries are expected to gain access to new markets and increase exports.
Moody’s confident in India’s growth
Expressing confidence in the strength of the Indian economy, rating agency Moody’s has projected GDP growth of 7% this year. The growth rate is expected to reach 6.5% in 2027. Moody’s has cited strong macro data and domestic demand as the main drivers of India’s growth.
Mixed signals from global markets
GIFT Nifty is trading above 26,000 with a gain of almost 50 points. Dow futures are currently stable. There were ups and downs in American markets on Friday. The Dow fell 300 points, but after three days of decline, the Nasdaq made a strong recovery and closed 30 points higher, up 450 points.
Heavy fall in gold and silver
Gold and silver prices fell after rising fears that there would be no interest rate cut in the US next month. In the international market, gold fell by $ 100, while silver fell by a huge 5%. In the domestic market, gold fell by Rs 3,200 to close at Rs 1,23,400 and silver fell by Rs 6,900 to close at Rs 1,55,500. Crude oil closed 2% higher at $64.
Warren Buffett’s big bet
Investment guru Warren Buffett has made a big investment in Google after almost 20 years. Before leaving the CEO post, he had invested $4.3 billion. The move reflects Buffett’s confidence in the long-term prospects of the tech sector.
FII-DII trends
FIIs sold nearly Rs 5,000 crore in the cash market for the fifth consecutive day, taking the total to heavy selling of Rs 7,157 crore. In contrast, domestic funds continued their buying for 55 consecutive days and pumped in around Rs 8,500 crore into the market on Friday. This strong buying of DII companies may provide support to the market.
Company results: Tata Motors PV disappointed
Tata Motors PV’s first results after the split were weak, going from profit to loss. Max Healthcare, Glenmark Pharma, Siemens and Inox Wind had mixed results. The performance of Oil India and Exide was weaker than expected, which is likely to increase pressure on these stocks.
Important decision of Kotak Mahindra Bank
The board of Kotak Mahindra Bank will decide on share split on November 21. If approved, the bank will do the share split after 15 years. This is expected to increase the participation of retail investors.
Fujiyama Power Systems IPO closing today
Fujiyama Power Systems’ IPO is closing today, November 17. So far it has been subscribed 40%. The price band has been fixed at ₹216 to ₹228.
Capillary Technologies IPO Update
Capillary Technologies IPO subscribed 28% on first day. Its price band has been fixed at Rs 549 to Rs 577. We will monitor the response of QIBs and HNIs in the coming days.
