POST-MARKET SUMMARY 27th November 2024

On November 27, Indian markets ended higher after a session marked by fluctuating trends. The broader market displayed mixed momentum, with selective buying in key sectors driving gains. Among sectors, Energy and Media advanced 1.45% and 0.98%, respectively, while Pharma slipped 0.61%, emerging as the major laggard for the day.

Adani Group stocks staged a strong recovery following news that the conglomerate's chairman and his aides were not charged under the US Foreign Corrupt Practices Act, sparking renewed investor confidence. Read more about it here.

NIFTY: The index opened flat at 24,204 and made a high of 24,354 before closing at 24,274. Nifty has formed a bullish candlestick pattern on the daily chart. Its major resistance level is now placed at 24,360 while major support is at 24,160.

BANK NIFTY: The index opened 37 points lower at 52,154 and closed at 52,301. Bank Nifty has formed a bullish candlestick pattern on the daily chart. Its immediate resistance level is now placed at 52,600 while immediate support is at 52,000.

Stocks in Spotlight

▪  Talbros Automotive: Stock zoomed 15% after the company announced bagging multi-year orders for both domestic and exports market from leading Original Equipment Manufacturers (OEMs).

▪  CG Power: Stock climbed 3% after the company's arm, G.G.Tronics India, bagged an order from Chittaranjan Locomotive Works, West Bengal.

▪  Aster DM Healthcare: Stock jumped around 8% after the company announced plans to acquire the remaining 13% stake in Kolhapur based Aster Aadhar Hospital.

Global News

▪  Gold prices recovered on Wednesday from a one-week low, driven by a weaker dollar, as traders awaited inflation data for hints on the Federal Reserve’s rate-cut outlook.

▪  The U.S. dollar slipped to a one-week low on Wednesday as investors grew wary of President-elect Donald Trump’s tariff plans and adjusted portfolios ahead of month-end.

▪  Oil prices remained steady on Wednesday as markets weighed a ceasefire agreement alongside expectations for the upcoming OPEC+ meeting, where a potential delay in output increases is anticipated.

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