The Indian stock market is witnessing a mixed trading session today, November 27, 2024. Key indices like the BSE Sensex and NSE Nifty are showing minor fluctuations, reflecting cautious investor sentiment amidst global and domestic developments.
While US stocks hit record highs yesterday, Asian markets traded in a narrow range, responding to global tariff concerns raised by former US President Donald Trump. Meanwhile, significant corporate developments in India, such as Infosys’ 90% bonus payouts and Vedanta’s copper projects in Saudi Arabia, are drawing attention.
Indian Stock Market Highlights
As of now:
- BSE Sensex is trading 57 points lower, hovering around 67,130.
- NSE Nifty is trading 16 points lower, standing at 19,975.
Here’s how the broader market indices are performing:
| Index | Performance |
|---|---|
| BSE Midcap | Down by 0.3% |
| BSE Smallcap | Up by 0.2% |
| Power Sector | Most buying activity |
| Realty Sector | Facing selling pressure |
Top Gainers and Losers
Gainers:
- Coal India
- M&M
- Adani Ports
Losers:
- Cipla
- Axis Bank
- Bharti Airtel
Global Market Snapshot
Asian equities are trading with mixed trends:
- The MSCI Asia Pacific Index rose marginally by 0.1%.
- Gains were seen in Sydney, while Tokyo and Seoul registered declines.
US Market Performance (November 26, 2024)
Despite tariff-related concerns, Wall Street maintained its positive trajectory:
| Stock/Index | LTP ($) | Change (%) | Day High ($) | Day Low ($) |
|---|---|---|---|---|
| Alphabet | 170.62 | +0.70% | 171.50 | 169.43 |
| Apple | 235.06 | +0.94% | 235.57 | 233.33 |
| Tesla | 338.23 | -0.11% | 346.96 | 335.66 |
| Nasdaq Index | 20,922.90 | +0.57% | 20,944.90 | 20,832.40 |
Key Corporate Updates
Infosys Announces 90% Bonus Payouts
India’s tech giant Infosys is set to reward its employees with 90% performance bonuses for Q2 FY25.
- Applicable mainly to mid and junior-level employees.
- This marks a rise from 80% in Q1 and 60% in Q4 FY24.
- Signals robust performance and enhanced discretionary spending.
Vedanta Invests in Saudi Arabia
Vedanta Ltd plans a $2 billion investment in major copper projects in Saudi Arabia.
- Key projects include a 400 KTPA smelter and 300 KTPA rod plant.
- Saudi copper demand is expected to double by 2035, providing a strong growth avenue for Vedanta.
NTPC Green Energy IPO
Shares of NTPC Green Energy are set to debut today after a successful IPO subscription.
- The IPO ran from November 19 to November 22 with allotments finalized on November 25.
Wipro Extends Marelli Partnership
Wipro FullStride Cloud will aid Marelli in migrating to the cloud, ensuring agile and advanced IT infrastructure.
- Benefits include quicker time-to-market and AI-powered virtual assistance for employees.
Rupee and Commodity Update
- The Indian Rupee is trading at ₹84.43/$.
- Gold prices are trading higher by 0.6%, at ₹76,464 per 10 grams.
What’s Driving Market Sentiment?
- Global Tariff Concerns: Trump’s tariff commentary has created unease, particularly in emerging markets.
- Corporate Developments: Infosys’ bonus news and Vedanta’s expansion plans provide optimism.
- Sectoral Trends: Power and capital goods sectors are witnessing buying, while FMCG and realty face selling pressure.
Investor’s Watchlist
- Stocks to Track:
- Tech giants like Infosys and Wipro.
- Midcaps and small caps showing resilience.
- Sectoral Insights:
- Power sector for long-term gains.
- Realty sector corrections could provide buying opportunities.
- Upcoming Events:
- NTPC Green’s market debut could set the tone for future energy IPOs.