GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a negative opening on Monday. Here’s a look at the key stocks to watch in trade.
GIFT Nifty ended down by 126.50 points or 0.54% at 24,322 indicating a negative opening for domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously, on Thursday the NSE Nifty 50 ended down by 26.35. points or 0.11% to settle at 23,532.70 while the BSE Sensex plunged 110.65 points or 0.14% to 77,580.31.
“The Nifty index had a subdued session on the weekly expiry day following the recent sell-off. The benchmark index saw sharp fluctuations in the early hours, but a lack of clear direction among heavyweights kept the movement contained throughout the day. Sectorally, there was a mixed performance—realty and auto sectors edged higher, while FMCG and pharma ended in the red. Meanwhile, broader indices showed slight relief, posting gains in the range of 0.4% to 0.8%,” said Ajit Mishra – SVP, Research, Religare Broking.
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Mishra also added that the The Nifty’s pause was largely anticipated after retesting its major support level at the 200-day exponential moving average (DEMA). We advise monitoring leveraged positions closely at this point. With major earnings now behind us, it’s crucial to focus on the performance of the IT and banking sectors for further cues.
Stocks to Watch on November 18, 2024
Reliance Industries
Reliance and Disney have finalized their joint venture to establish a unified entertainment brand in India, valued at Rs 70,352 crore. Nita Ambani will take on the role of Chairperson for this newly formed venture, which aims to consolidate both companies’ strengths in the Indian entertainment market.
Hero MotoCorp
The automaker reported that net profit rose by 14.2% to Rs 1,203.5 crore, up from Rs 1,053.8 crore in the same period last year. Revenue saw a 10.8% increase, reaching Rs 10,463.2 crore compared to Rs 9,445.4 crore previously. EBITDA also showed strong growth, jumping 14.1% to Rs 1,515.9 crore, up from Rs 1,328.3 crore a year earlier.
Crompton Greaves
The company posted a robust 28.6% increase in profit for the September 2024 quarter, reaching Rs 125 crore,
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