Today’s Market News :
Global markets are suggesting Mixed Positive signals, so our Indian markets are likely to start with a Flat opening today.
Indian markets are expected to remain cautious, extending yesterday’s downtrend. Nifty 50 may find support at 23,300 (50-week moving average), while Nifty Bank holds strong support in the 50,000-49,700 zone. Nifty IT may rebound above 40,900 (100-DMA).
Indian markets opened positive but slipped into negative territory, with Nifty 50 trading below the 200-day moving average. Top gainers: Tata Steel, Hindustan Unilever, Mahindra & Mahindra, Nestle India, and State Bank of India. Losers: Tata Consultancy Services, Infosys, Wipro, NTPC, and Tech Mahindra.
NTPC Green has launched its IPO to raise Rs 10,000 crore, opening for subscription from November 18 to November 22, with a price band set at Rs 102-108 per share.
* Analysts recommend subscribing to the IPO, highlighting NTPC Green’s strong growth potential and its significant role in India’s renewable energy sector, with projected revenue and profit growth rates of 79% and 90.75% respectively over the next few years.
* The proceeds from the IPO will be utilized for investments in its subsidiary, debt repayment, and general corporate purposes, with the allotment scheduled for November 25 and listing on November 27.
* Amrutanjan Health Care, GMM Pfaudler, and Satia Industries have declared dividends of Re 1 and Rs 0.1 per share, respectively, with November 21 set as the record date for eligibility.
* Today is the last chance for investors to buy shares of these companies to qualify for the announced dividends, as shares must be purchased at least one day before the ex-date.
* Dividends are a crucial aspect of stock market returns, particularly for income-focused investors, and are typically associated with mature companies with stable earnings.
* Gold prices remained stable as traders awaited insights from Federal Reserve officials regarding U.S. interest rates, with spot gold at $2,611.79 per ounce.
* Speculation about the Fed’s rate-cutting trajectory has been fueled by strong economic data and potential inflation from proposed tariffs, while a tight labor market continues to exert inflationary pressures.
* The SPDR Gold Trust reported a slight increase in its holdings, indicating ongoing interest in gold as a hedge against economic uncertainty.
