Zomato share price dropped 2.4% on Thursday’s trading after Swiggy and Zomato received notices from country’s top indirect tax agency regarding unpaid taxes of approximately ₹750 crore..

“USDINR CMP- 83.34 (spot) The Indian Rupee erased early gains and depreciated on demand from importers and selling pressure from FIIs. However, a soft US Dollar and a decline in crude oil prices cushioned the downside. Economic data from the US on Wednesday was better than expected, raising some hawkishness. We expect Rupee to trade with a slight positive bias on IPO-driven Dollar inflows and a weak tone in US Dollar. Dollar eased on strong Euro which rose on the back of better-than-expected PMI data out of Germany and the Eurozone. However, bargain buying by importers and FII outflows may cap a sharp upside. USDINR spot price is expected to trade in a range of Rs 83 to Rs 83.60,” said Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas.

Hindustan Petroleum, Aditya Birla Fashion, Hero MotoCorp, PI Industries, and Deepak Nitrite are the top gainers on F&O basket

Cipla, UltraTech Cement, Larsen & Toubro, SBI Life Insurance Company and Divi’s Labs constitute the top laggards on the NSE Nifty 50.

Hero MotoCorp, Bajaj Auto, Eicher Motors, IndusInd Bank and Bharti Airtel are the top gainers on the NSE Nifty 50 during the intra-day trade on Thursday.

The Nifty Realty index soared 1.08% during intra-day trade on Thursday. Prestige Estates led the gains and surged 3.42%, while Sobha and Oberoi Realty rallied over 2% each.

Here MotoCorp, Bajaj Auto, IndusInd Bank, Eicher Motors, and Wipro are the top gainers on NSE Nifty 50 index.

“Today, saw a positive start for the major indices, with the NSE Nifty 50 opening at 19,828, indicating a 0.08% increase, and the BSE Sensex kicking off at 66,084, showing a gain of 61 points. Despite a relatively narrow range of movement, the market exhibited resilience. The Nifty experienced a strong recovery in the latter half yesterday and closed above the 19,800 mark. Today, it is expected that the Nifty will trade in the range of 19,800 to 19,900 levels. In contrast to the Nifty, the Bank Nifty showed underperformance for the second consecutive day. It is anticipated that the Bank Nifty will consolidate around the current levels, considering the substantial open interest in both the 43,500 Call and Put options for the day,” said Shrey Jain, Founder and CEO SAS Online.

(Source: NSE)

Deepak Nitrite, Bajaj Auto, Aditya Birla Fashion, Hero MotoCorp, and Navin Fluorine are the top stocks trading up by more than 2% in intra-day trade on Thursday.

Bajaj Auto, Hero MotoCorp and Eicher Motors shares soared during early trade to hit their respective new 52-week highs on Thursday.

Bajaj Auto, Eicher Motors, Hero MotoCorp, Asian Paints and HDFC Life Insurance are the top gainers on NSE Nifty 50 index.

“Nifty weekly contract has highest open interest at 19,900 for Calls and 19,800 for Puts while monthly contracts have highest open interest at 20,000 for Calls and 19,000 for Puts. Highest new OI addition was seen at 20,000 for Calls and 19,500 for Puts in weekly and at 20,000 for Calls and 19,700 for Puts in monthly contracts. FIIs increased their future index long position holdings by 7.65%, increased future index shorts by 0.21% and decrease in index options by 28.18% in Call longs, 16.54% decrease in Call short, 32.24% decrease in Put longs and 22.83% decrease in Put shorts,” said Anand James, Chief Market Strategist at Geojit Financial Services.

The NSE Nifty 50 opened at 19,828.45 up 0.08%, while the BSE Sensex opened at 66,084.37 up 61.13 points.

“The distinctive near-term trend in the market is the narrowing range of the market. The market is exhibiting resilience within this narrow range movement. Within the range, the buy on dips strategy is working. The market is waiting for triggers for a breakout, which may come with the state election results. If the state election results confirm political stability after the General elections in 2024, a pre-election rally is likely to begin. The 10-year US bond yield hovering around 4.40 percent and the declining volume of FII selling augurs well for the market. Leading banking stocks weighed down by sustained FII selling and the recent RBI action increasing the risk weighting on unsecured loans are good long-term buys for patient investors,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

“Gift Nifty teeters near dotted lines, but our prediction signals robust gains for Nifty. Two key catalysts include a 4% drop in WTI Oil prices to $74.50/barrel due to a delayed OPEC+ meeting and Wall Street’s resilient climb despite hawkish FOMC minutes. Technically, victory for bulls looms as Nifty eyes closure above the critical 19,889 level. Notably, breaching 19,889 could usher in a bullish Christmas for Dalal Street and global markets. Any corrective declines to Nifty at 19,681 are anticipated to find substantial support. Options data suggests a likely Nifty trading range of 19,300-19,800. The preferred trades for Nifty and Bank Nifty involve buying at current levels with specified stops and targets. Also, our chart of the day favours INDIGO, MUTHOOTH FINANCE, TATA CONSUMER, and TITAN on intraday weakness. For immediate action, consider buying NTPC at CMP 254 with a stop at 247 and targets at 261/266, including aggressive targets at 277, employing an intermonth strategy due to its momentum play,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.

The NSE has added Hindustan Copper, Zee Entertainment, BHEL, India Cements, NMDC, RBL Bank, Manappuram Finance, MCX India and Indiabulls Housing Finance to its F&O ban list for November 23, 2023.

Foreign institutional investors (FII) offloaded shares worth net Rs 306.56 crore, while domestic institutional investors (DII) added shares worth net Rs 721.24 crore on November 22, 2023, according to the provisional data available on the NSE.

Oil prices are trading lower on Thursday morning. WTI crude prices are trading at $76.07 down 1.34% and Brent crude prices are trading at $80.78 down 1.44%. The downward trend came  following an unexpected delay in a meeting of OPEC+ producers on production cuts. 

US stocks ended higher on Wednesday, led by interest rate-sensitive megacaps, while the dollar bounced back from a 2-1/2-month low as economic data suggested the labor market is not cooling as quickly as markets, or the Federal Reserve, might prefer, reported Reuters. The tech-heavy Nasdaq Composite surged 65.88 points or 0.46% to 14,265.86. The S&P 500 rose 18.43 points or 0.41% to 4,556.62 and the Dow Jones Industrial Average added 184.74 points or 0.53% to 35,273.03.