Asian share markets were trading in positive territory on Tuesday as investors became cautiously optimistic the new Omicron variant might not cause a widespread global economic disruption to worsen the coronavirus pandemic. SGX Nifty rose 0.21% in early deals, indicating a flat to positive start for Indian indices. On Monday, Indian share markets traded on a volatile note with the BSE Sensex up 153 points, while the Nifty rose 27 points. The shares recovered early losses to end higher on the day, boosted by gains in Reliance, Kotak Mahindra Bank and technology stocks.
Markets opening view: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Upon opening, the market has bounced today. Whether it is short covering or a dead cat bounce is still to be ascertained. The markets are still in negative territory and unless we do not close above 17500 on the Nifty, the short-term trend does not change.
Go Fashion shares make a bumper debut, nearly double from issue price
Shares of Go Fashion (India) Limited, which owns women’s wear brand Go Colors, made their stock market debut with a strong premium of 90% at ₹1,310 per share on the NSE as compared to its IPO issue price of ₹690 apiece. On the BSE, Go Fashion shares were trading at ₹1,316
The three-day initial public offering (IPO) of Go Fashion (India) Limited, which owns women’s wear brand Go Colors, received a whopping 135.46 times subscription on its last day of subscription that concluded on November 22. The ₹1,013.6-crore IPO received bids for 1,09,44,34,026 shares against 80,79,491 shares on offer.
Coal India approves payment of interim dividend for FY22, stock surges
Shares of Coal India surged in Tuesday’s opening deals after the miner in a regulatory filing on Monday said that the board in its meeting held approved payment of interim dividend for FY22 at ₹9 per share of the face value of ₹10 as against ₹7.5 per share announced last year.
The PSU company has fixed Friday, December 7, 2021 as the record date for the purpose of payment of interim dividend on the equity shares for the financial year 2021-22. Whereas, the date of payment of interim dividend is on and from December 21, 2021, it added.
Nifty broad market indices
Top gainers/losers in opening deals
Rakesh Jhunjhunwala portfolio: Experts give ‘buy’ tag to this ₹200 bank stock
Rakesh Jhunjhunwala portfolio: Amid Omicron virus concern, stock market experts have been recommending positional investors to pick quality stocks available at discounted price. In this regard, they recommended investors to buy Canara Bank shares even though there is high volatility in the PSU bank stock on new Covid variant concern. They said that Rakesh Jhunjhunwala stock is trading below ₹200 where its risk-reward ratio is quite high.
Halt RIL-Future deal, market regulator urged
Amazon.com Inc. and a lobby of at least 15,000 small businesses have written to the markets regulator, demanding revocation of the conditional approval it has granted to the ₹24,713 crore deal for the Future Group to sell its retail assets to Reliance Industries Ltd.
The US e-commerce giant and the Confederation of Indian Micro Small and Medium Enterprises have written two separate letters to the Securities and Exchange Board of India (Sebi) on the matter. Mint has reviewed a copy of both letters, dated 24 November.
Nifty at open
Nifty staying above the 17,100-mark.
22 of 30 Sensex stocks in green
Sensex stocks witnessed a positive start on Tuesday.
Petrol, diesel prices today
The price of auto fuel continued to remain steady as petrol and diesel prices stay unchanged on Tuesday across various cities in the country including the national capital Delhi, metro cities Mumbai, Kolkata and Chennai.
Markets in pre-open
At market pre-opening, Sensex was up nearly 400 points.
Nifty at pre-open
At market pre-opening, Nifty was down nearly 200 points.
Reliance’s JioMart turns to WhatsApp to compete against Amazon, Flipkart
Indians can now use WhatsApp to order groceries from billionaire Mukesh Ambani’s JioMart via a new “tap and chat” option, as his Reliance Industries Ltd. challenges the domination of Amazon.com Inc. and Walmart Inc.-owned Flipkart.
Delivery is free and there’s no minimum order value, according to JioMart users who got WhatsApp shopping invites with a 90-second tutorial and catalog. Among the daily essentials on offer are fruits, vegetables, cereal, toothpaste and cooking staples like paneer cottage cheese and chickpea flour. Customers can fill their shopping baskets within the app and pay either via JioMart or in cash when receiving their order.
Indiabulls Housing Finance continues to be under NSE’s F&O ban
Indiabulls Housing Finance continues to be the only stock under the ban for trade on Tuesday, November 30, 2021 under the futures and options segment by the National Stock Exchange (NSE). The security has been put on ban under the F&O segment as they have crossed 95% of the market-wide position limit (MWPL), as per the NSE.
RBI supersedes board of Reliance Capital
The Reserve Bank of India (RBI) said it would refer Reliance Capital Ltd to bankruptcy courts after taking control of the troubled financial services company on Monday, citing governance concerns and payment defaults.
Nageswara Rao Y., a former executive director of Bank of Maharashtra, has been named the company’s administrator, the banking regulator said in a statement.
Oil prices rise on bets OPEC+ will hold off output hike
Oil prices climbed on Tuesday, extending a rebound from last week’s plunge on growing expectations major producers would pause plans to add crude supply in January amid uncertainty over the severity of the Omicron coronavirus variant.
U.S. West Texas Intermediate (WTI) crude futures jumped 99 cents, or 1.4%, to $70.94 a barrel at 0105 GMT, adding to a 2.6% rise on Monday.
Brent crude futures climbed 82 cents, or 1.1%, to $74.26 a barrel, after gaining 1% on Monday.
Oil plunged around 12% on Friday along with other markets on fears the heavily mutated Omicron would spark fresh lockdowns and dent global growth.
Suncity Group plunges 48% on CEO’s arrest
Suncity Group Holdings Ltd. plunged by the most since 2008 as the stock resumed trading in Hong Kong following the news of Chief Executive Officer Alvin Chau’s arrest. The slump of as much as 48% came as the world’s biggest junket operator said it expects business to be adversely affected if it loses financial support from the CEO. Shares of other Macau casino operators were mixed after suffering heavy losses on Monday.
Go Fashion share price may list in four digits, say stock market experts
Go Fashion IPO is going to list today at both NSE and BSE. According to stock market experts, the public issue worth ₹1,013.61 crore may have a magnificent listing today. They said that Go Fashion share price may open in four digits at somewhere around ₹1100 per share levels.
Day trading guide for Tuesday
7 stocks to buy or sell today — 30th November
Star Health to launch its IPO today
The initial share-sale of Star Health and Allied Insurance Company will open for subscription today and conclude on December 2. The price band has been set at ₹870-900 per share for its initial public offering (IPO). Star Health on Monday said it has raised a little over ₹3,217 crore from anchor investors ahead of its IPO.
Stocks to Watch: Kotak Bank, Asian Paints, Go Fashion, Dr Reddy’s
Here is a list of the top 10 stocks that are likely to be in focus today.
SGX Nifty gains points in early deals
SGX Nifty futures traded at 17,126.50 in early deals, up 36 points or 0.21%, indicating a positive start for Indian benchmarks in Tuesday’s trade.
Asian stocks advanced Tuesday
Asian stocks and U.S. equity futures advanced Tuesday amid easing concerns about the omicron coronavirus strain and data signaling an improvement in China’s factory activity.
Japanese shares led regional gains, China edged up and Hong Kong dipped. China’s manufacturing purchasing managers index signaled expansion in November in part as an energy shortage abated.
U.S. and European futures pushed higher after the S&P 500 wiped out its November losses and the Nasdaq 100 more than recouped Friday’s rout. The technology sector powered gains both on Wall Street and in Asia.
Treasury yields rose, unwinding some of the haven rally spurred by the virus. Federal Reserve Chair Jerome Powell said omicron poses risks to both sides of the central bank’s mandate for stable prices and maximum employment.
The yen weakened and a dollar gauge slipped. Crude oil advanced.
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