Stock Market Highlights: Sensex, Nifty 50 end flat, financials outperform

“Range-bound momentum continued on main indexes as the market looked for new triggers for a decisive move beyond the 19800 level. However, broad markets’ undercurrent is strong and rapid buying has emerged in the mid- and small-cap counters as bargaining strategy arose on recent underperforming stocks. The declining oil prices and ease in US bond yields are the key positives for a broader recovery for the market. The European market was mixed ahead of the ECB minutes and the release of manufacturing index data,” says Vinod Nair, Head of Research at Geojit Financial Services.

Midcap Index Hits Record High Intra-day, AB Fashion, HPCL Top Midcap Gainers

Sensex Falls 5 Points To 66,018 & Nifty 10 Points To 19,802

Nifty Bank Gains 128 Pts To 43,578 & Midcap Index Ends Flat At 42,027

Honasa Cons Hits 20% Upper Circuit On Strong Q2 Results

Hero MotoCorp Ends At 2-yr High, Top Nifty Gainer

Bajaj Auto Hits Record High, Up 3% On +Ve Brokerage Report

Cipla Top Nifty Loser, Down Nearly 8% On Pithampur Unit Warning Letter Details

Nifty Pharma Snaps 6-day Gaining Streak, Falls The Most Amongst Sectorial Indices

Sterling & Wilson Extends Gains, Up 5% On Nigeria Order Win

IEX Up 1% As Analysts See 39% Upside In Bull Case Scenario

UltraTech Falls Nearly 2%, Kesoram Up 5% As Srcs Say UltraTech Eyeing Kesoram’s Cement Biz

Market Breadth Favours Advances, Advance-Decline Ratio At 1:1

The shares have snapped a three day losing streak. The stock has now gained in five out of the last 10 trading sessions, and is up 10% in 2023 so far.

The shares have now gained in six out of the last 10 trading sessions.

UltraTech Cement Ltd., India’s largest cement company has expressed interest in acquiring the cement assets of Kesoram Industries Ltd., people with direct knowledge of the matter told CNBC-TV18.

The sources also said that UltraTech is currently conducting due diligence at Kesoram Industries.

Read more here

#CNBCTV18Exclusive | UltraTech Cement evinces interest in Kesoram Industries’ cement assets, is conducting due diligence at Kesoram Industries, sources to @VivekIyer72 pic.twitter.com/UiHZWEcqEN

— CNBC-TV18 (@CNBCTV18Live) November 23, 2023

Genus Power shares are in the green for the second day today, up 4.8%

The stock has gained 190.4% this year, so far.

NHPC shares are in the green for the fifth day today, up nearly 1.4%.

The stock has been in the green nine out of the last 10 trade sessions.

It has gained 38.3% this year, so far.

Here are a couple of stock recommendations by Dharmesh Shah, ICICI Direct:

– Buy Ashok Leyland at a target of Rs 202 with a stop loss of Rs 163
– Buy GAIL at a target of Rs 146 with a stop loss of Rs 117

Herald Van Der Linde, Head of Asia Equity Strategy at HSBC believes China may outperform India in the short term due to some supporting factors, but foresees India’s stronger corporate earnings offering better long-term prospects.

Read here

The IPOs of Gandhar Oil Refinery and Flair Writing Industries have been oversubscribed on the back of favourable analyst commentary. However, Fedbank Financial Services IPO has been subscribed 57% so far on the second day of the bidding process.

More details here

Shares of Ajanta Pharma are in the green after two days, up 2.2%.

The stock has gained 62.3% this year, so far.

Shares of AB Fashion are in the green for the second day today, up 3.8%.

The stock has gained 14.76% in the last six months but is down 22.18% this year, so far.

e-Ticket booking is temporarily affected due to technical reasons. Technical team is working on it & online booking will be made available soon, says #IRCTC (@IRCTCofficial) pic.twitter.com/c6meKyJv6t

— CNBC-TV18 (@CNBCTV18Live) November 23, 2023