GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a lacklustre opening on Tuesday. Here’s a look at the key stocks to watch in trade.
GIFT Nifty ended up by 13.50 points or 0.06% at 23,537.50 indicating a lacklustre opening for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday the NSE Nifty 50 ended down by 78.90. points or 0.34% to settle at 23,452.80 while the BSE Sensex plunged 241.30 points or 0.31% to 77,339.01.
“The market continued its downward trend, slipping nearly half a percent. Nifty saw a sharp dip initially but managed to recover most of its losses mid-session before eventually closing with a modest cut at 23,453.80. Sector-wise, there was a mixed performance, with metals, FMCG, and auto gaining, while IT and energy sectors remained under pressure. The broader indices also showed mixed results, as the midcap index remained flat while the smallcap index declined by nearly half a percent,” said Ajit Mishra – SVP, Research, Religare Broking.
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Mishra also added that the Nifty has now fallen below its major support at the 200-day EMA after a brief pause, indicating that the bears are in control. However, oversold conditions in heavyweight stocks across sectors are currently slowing the pace of the decline. We recommend maintaining a cautious outlook on the index and focusing selectively on stock-specific opportunities.
Stocks to Watch on November 19, 2024
Waaree Energies
The company reported its July-September quarter results on Monday, November 18, posting a 17% increase in net profit to Rs 375.65 crore for the second quarter of the 2024-25 financial year, up from Rs 320.12 crore in the same period last year. Revenue from operations rose slightly by 1.04%, reaching Rs 3,474.37 crore in the quarter, compared to R 3,537.29 crore in the previous year.
GMR Airports
In October 2024, the company recorded a significant rise in passenger traffic, handling over 10.7 million passengers, marking a 9.2% year-on-year (YoY) increase. This growth encompassed both domestic and international sectors, each experiencing a 9.2% YoY rise.
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The company has consistently maintained traffic levels above 10 million passengers per month since December 2023.
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