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.”
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Sensex ends on positive note
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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.
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