Friday 30 November 2018

Nifty Reclaims 10,900 Mark Tata Motors Drops 2%

Posted by suhani varma on Friday, November 30, 2018 with No comments


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Equity benchmark indices opened higher for fifth consecutive session, with Nifty trading above 10,900 mark, up over 51 points. The Sensex gained 195 points at 36,365 led by Reliance Industries, Infosys, HDFC, Yes Bank and HUL.

On the sectoral front, consumption, IT and energy stocks are in the green, while the auto index is showing weakness today.

The Indian rupee strengthened for the fourth day and appreciated by 13 paise to 69.71/$.

NBFC stocks gained in today’s trade on investors hope of relaxation of holding requirement norms after the RBI relaxed the same for NBFCs.

Shares of Tata Motors slipped 2%. British luxury carmaker Jaguar Land Rover (JLR) has announced that it will temporarily halt production at its engine factory in Wolverhampton (UK) to adjust for low demand. 

Shares of Repco Home Finance dropped 3% after Mohnish Pabrai’s fund sold 9.5 lakh shares of Repco Home Finance on Thursday via a bulk deal.

Yes Bank, Indiabulls Housing Finance, GAIL, ZEE, and Bajaj Finance were the top Nifty gainers, while Tata Motors, Bharti Infratel, Adani Ports, Titan, and HDFC Bank were among the top losers.

The BSE Midcap index and BSE Smallcap were trading higher by 0.55%, respectively.

Volatility index India VIX is down 4.15% to 17.92.

The most active stocks were Yes Bank,Indiabulls HF, DHFL, Bajaj Finance, ICICI Bank, and RCOM.

On the international front, oil prices firmed as traders expected OPEC and Russia to agree on production cuts next week.

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