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Sensex today: CLOSING BELL: Sensex plummets 1,061 pts from day’s high, ends 764 pts


The domestic benchmark indices ended the week on a bad note as Omicron fears sparked selloff on D-Street. The benchmark indices snapped their 2-day winning run amid losses in RIL and financials. The broader markets were mixed with Midcaps ending in the red and Smallcap in the green. Media was only sectoral gainers in today’s trade.

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Tega Inds IPO subscribed 219 times on last day of bidding

The initial public offer (IPO) of Tega Industries continued to drew massive interest of investors. The issue saw 219.04 times subscription as of closing time, data on BSE showed, thanks to strong interest from HNI and retail investors. Investors applied for 2,09,58,69,600 shares against 95,68,636 shares on offer.

Forex reserves down by USD 2.713 mn to USD 637.687 bn

India’s foreign exchange reserves declined by USD 2.713 billion to USD 637.687 billion in the week to November 26, RBI data showed. In the previous week ended November 19, the reserves had increased by USD 289 million to USD 640.401 billion. It touched a lifetime high of USD 642.453 billion in the week ended September 3, 2021.

Key market driving factors for the week ahead

RBI’s monetary policy meeting which is scheduled to start next week will be a key market driver in the coming days as investors await MPC’s policy decision considering the uncertainty surrounding the new virus which persists in the global economy. We expect RBI to continue its accommodative stance with policy rates unchanged while it will continue absorbing excess liquidity from the market through VRRR auctions. The much-awaited decision of the MPC will be on whether they would wait for another session and evaluate the impact of Omicron to decide on a reverse repo rate hike. Major domestic data points awaiting its release in the coming week are November’s Inflation data which is expected to remain elevated and October’s Industrial & Manufacturing Production data.

— Vinod Nair, Head of Research at Geojit Financial Services

What to expect for trade next week?

We’re seeing a roller coaster ride in markets across the globe due to the news flow around the new COVID variant and we don’t expect any relief soon. Participants have no option but to align their position accordingly and prefer hedged positions. Investors should not worry much about these fluctuations and use the further dip to add quality stocks in a staggered manner.

— Ajit Mishra, VP – Research, Religare Broking

This week omicron woes kept the USDINR spot afloat, and now the focus is on tonight’s US non-farm payrolls report. It is a big data to digest before the Fed policy as it will help gauge the state of US employment and will carry some implication on this policy outcome. A big NFP figure will push USDINR higher along with the safe-haven demand if Omicron concerns rise. But next week, we have RBI policy and a likely tightening by raising the reverse repo rate may limit any rise in USDINR spot. So we expect USDINR spot to continue oscillating in between 74.70-75.50. As long as it trades above 74.70, it will continue the uptrend.

– Emkay Global Financial Services

Following a positive opening, benchmark indices gave up all gains led by losses in heavyweights in anticipation of the RBI meet next week. Meanwhile, investors were also cautious after India reported Omicron cases. However, global equities traded with slight gains recovering from yesterday’s broad based sell-off led by fears on new covid variant and Fed chair’s comment on the bond-buying program. RBI’s monetary policy meeting will be a key market driver as investors await MPC’s policy decision which is broadly expected to hold an accommodative stance considering the uncertainty surrounding the new variant.

– Vinod Nair, Head of Research at Geojit Financial Services

Sector Watch | Media only sectoral gainer on NSE

Sector Watch | Media only sectoral gainer on NSE

Sensex Heatmap: Top index gainers & losers

Sensex Heatmap: Top index gainers & losers

CLOSING BELL: Sensex plummets over 1,000 pts from high, ends 764 pts lower; Nifty ends below 17,200

CLOSING BELL: Sensex plummets over 1,000 pts from high, ends 764 pts lower; Nifty ends below 17,200

RBI new norms likely to increase NBFCs bad loans by one-third: Study

The recent clarification by the Reserve Bank of India on non-performing advances (NPA) may increase non-banking financial companies’ (NBFC) bad loans by one-third, says a report. Last month, the RBI had provided clarification on income recognition asset classification and provisioning (IRAC) norms for banks, NBFCs and All-India Financial Institutions. The clarification included classification of special mention account (SMA) and NPA on a day-end position basis and upgrade from an NPA to standard category only after clearance of all outstanding overdues.

Gold, silver spot prices

Gold, silver spot prices

Volatility gauge India VIX climbs 2.51% to 18.54

Media & realty only sectoral gainers

Media & realty only sectoral gainers

Aether Industries plans to file up to Rs 1,000 crore IPO next week

Specialty chemical company Aether Industries plans to file preliminary documents for an initial public offering of as much as Rs 1,000 crore next week, according to people familiar with the matter. Kotak Mahindra Capital Company Ltd and HDFC Bank Ltd have been appointed as merchant bankers to advise the company on the public issue, they added.

WATCH LIVE | Mark Mobius on how to navigate the market volatility

Jet Airways, which is preparing to relaunch operations next year, on Friday said it is in “advanced discussions” with Boeing and Airbus for buying and leasing planes.

Price as on 03 Dec, 2021 01:58 PM, Click on company names for their live prices.

These stocks fall in line with market mood

Price as on 03 Dec, 2021 01:45 PM, Click on company names for their live prices.

Sensex extends fall, down over 400 points

Sensex extends fall, down over 400 points

Sectoral matrix on NSE

Sectoral matrix on NSE

GIFT is a breakthrough opportunity, not just for India but world: Mukesh Ambani

GIFT is a breakthrough opportunity, not just for India but world: Mukesh Ambani

Morepen Laboratories receives USFDA approval for its anti-allergy drug Fexofinadine Hydrochloride that is market in India under the brand name Allegra

Price as on 03 Dec, 2021 12:53 PM, Click on company names for their live prices.

Selling gathers pace on D-Street!

Selling gathers pace on D-Street!

Two-wheeler market leader Hero MotoCorp on Friday announced the expansion of operations in Argentina with the opening of its flagship dealership in Buenos Aires in partnership with Gilera Motors Argentina.

Price as on 03 Dec, 2021 12:33 PM, Click on company names for their live prices.

The Health Minister has confirmed that 2 people in Karnataka has been tested positive for Omicron variant. Several reports suggest that the Omicron virus is more contagious than earlier detected covid virus. As of now, it looks like the situation is under control for the Omicron virus in India but any community spread of this virus will going to impact the market.

– Yash Gupta, Equity Research Analyst, Angel One

Top 10 gainers on NSE

Price as on 03 Dec, 2021 12:13 PM, Click on company names for their live prices.

Sandip Sabharwal is sceptical…



Read More : Sensex today: CLOSING BELL: Sensex plummets 1,061 pts from day’s high, ends 764 pts

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