Date: 15th November 2023
- Domestic equity indices surged upon resuming trading after the Diwali break, with the Nifty closing above the 19,650 mark.
- Cooling inflation in the US, UK, and India boosted investor confidence and drove market enthusiasm.
- The Sensex and Nifty soared over 1% on November 15, driven by robust buying in IT, banking, and oil & gas stocks amid a global rally triggered by softer US inflation figures.
- Encouraging US inflation data fueled optimism for a potential halt in Federal Reserve interest rate hikes.
- Across various sectors, all indices closed positively, with realty leading at 2.97%, followed by IT (2.29%), teck (2.12%), auto (1.65%), oil & gas (1.55%), and energy (1.41%).
- In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong settled with gains, reflecting positive market sentiment.
- Markets in Europe and Asia advanced on Wednesday as global markets digested data out of the U.S. and China.
- U.K. inflation fell sharply in October to 4.6% from 6.7% the previous month, hitting a two-year low. The headline consumer price index was flat on a monthly basis. The country?s core CPI fell to an annual 5.7% in October from 6.1% in September.
- Japan’s economy shrank in the July-September period for the first time in four quarters, provisional government data showed Wednesday, amid slowing global demand and rising domestic inflation. Provisional gross domestic product fell 2.1% in the third quarter compared to a year ago, while also recording a 0.5% decline from the previous quarter.
- On the geopolitical front, U.S. President Joe Biden and China?s President Xi Jinping are expected to meet in person in San Francisco for the first time in about a year.
- US stocks rallied Tuesday, building on their strong November gains, as Wall Street cheered the soft U.S. inflation report. The consumer price index was flat in October from the previous month but increased 3.2% from a year ago. The headline CPI had increased 0.4% in September.
Stocks in Spotlight
- Narayana Hrudayalaya zoomed 9 percent to hit an all-time high after the company’s net profit grew 34.3 percent on-year to Rs 226 crore in Q2FY24, while consolidated revenue surged 14.3 percent to Rs 1,305 crore, driven by higher patient volumes across units. The stock trimmed some of the gains and closed at 4.64 percent.
- Natco Pharma Ltd marked a staggering 550% surge in its consolidated net profit in the September quarter, attributed chiefly to the expansion in formulation exports and heightened sales in the domestic agrochemical sector. Reporting a net profit of Rs 369 crore compared to Rs 56.8 crore from the previous year, the company saw a substantial increase in total sales, more than doubling to Rs 1,061 crore, up by 134.7% from Rs 452 crore last year. Additionally, the company declared an interim dividend of Rs 1.25 per share.
- Asian Paints observed a 0.85% rise as it enhanced the original installed production capacity of the Khandala plant to 4,00,000 KL per annum. This expansion aims to address the company’s medium-term capacity needs. With an investment of around Rs. 385 crore, funded through internal accruals, Asian Paints augmented the plant’s capacity to meet future demand.
News from the IPO world🌐
- ASK Automotive IPO closes with 10% rally on debut
- IREDA IPO opens on Nov 21
- TATA Technology IPO opens for subscription on Nov 22
Day Leader Board
Nifty 50 Top Gainers
Nifty 50 Top Losers
|Top Sectors||Day change (%)|
|NIFTY PSU BANK||2.64|
|NIFTY OIL & GAS||-0.18|
|NIFTY PRIVATE BANK||-0.23|
Advance Decline Ratio
|Advance/Declines||Day change (%)|
Numbers to track
|Indices Name||Latest||% 1D||% YTD|
|Dow Jones (US)||34,828||1.4 %||5.1 %|
|10 Year Gsec India||7.2||-0.80%||-1.40%|
|WTI Crude (USD/bbl)||78||3.3 %||1.7 %|
|USD/INR||83.31||0.0 %||0.8 %|
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