Sensex gains 239 pts; Nifty above 23,500

Indian equity indices ended on a positive note with the Nifty above 23,500 amid volatility on November 19, 2024.

Rs 53 dividend: Stock under Rs 500 to trade ex-date on November 27 – Share zooms 19% in 1 dayhttps://t.co/OAi770GG1r

— ET NOW (@ETNOWlive) November 19, 2024

At close, the Sensex was up 239.37 points or 0.31 percent at 77,578.38, and the Nifty was up 64.70 points or 0.28 percent at 23,518.50. M&M, Trent, Tech Mahindra, HDFC Bank, and Eicher Motors were among the top gainers on the Nifty, while SBI Life Insurance, HDFC Life, Reliance Industries, Tata Consumer, and Hindalco were the top losers.

#ETNOWAlert | Rupee ends at record closing low of 84.4150 a dollar#Rupee #Dollar pic.twitter.com/98T6I7BKIK

— ET NOW (@ETNOWlive) November 19, 2024

Among the sectors, media, auto, realty, IT, and pharma were up 0.5-2.5 percent, while metal, oil & gas, and PSU Bank were down 0.5 percent each. BSE Midcap and Smallcap indices were up nearly 1 percent each. Vinod Nair, Head of Research at Geojit Financial Services, noted that although there was a strong bounce back due to bottom fishing, the recovery was short-lived as caution prevailed in the market.

Nifty is trading below its 200-DMA for the first time since April 2023.

Here's how it has performed after closing below 200-DMA. pic.twitter.com/2NSAb4ihpd

— Zerodha (@zerodhaonline) November 19, 2024

“Investors tend to use every opportunity to book profits amidst consistent foreign institutional investor (FII) selling and weak Q2 earnings,” Nair said. “Profit booking was also seen ahead of the upcoming Maharashtra state election.” The NTPC Green Energy IPO was subscribed at 0.31 times by 4 PM on Day 1.

Sensex ends on positive note

Breakdown of subscription: Qualified Institutional Buyers (QIB): 0.0 times Non-Institutional Investors (NII): 0.13 times Retail: 1.27 times Employee Reserved: 0.16 times Shareholder Portion: 0.54 times Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas, observed that Nifty opened on a positive note and surged during the first half of the trading session. However, a sell-off in the second half led to a weaker close. Ajit Mishra, SVP of Research at Religare Broking, commented on the volatile session which ended marginally higher. Despite an initial positive move, a sharp sell-off in the latter half erased most gains. The Indian rupee ended marginally lower at 84.41 per dollar on Tuesday, slightly down from Monday’s close of 84.39. European indices traded lower, with CAC and DAX down 1 percent each. The Dow Jones Futures slipped 0.5 percent due to the escalation in the Russia-Ukraine conflict. There is an alert about individuals misrepresenting themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on investments. The public is advised to report any such claims to Moneycontrol.