Global markets are suggesting Mixed signals, so our Indian markets are likely to start with a “Flat” opening today.
* Equity indices fell nearly 1.5% due to heavy selling in major stocks, with HDFC Bank showing sideways movement and BEML indicating potential trend reversal.
* HDFC Bank is recommended for buying within the range of 1790-1770, targeting a price of 1949, while BEML should be purchased once it reclaims its resistance zone.
* Enviro Infra Engineers is set to debut on stock exchanges today with a predicted premium of 20-33%, driven by robust subscriptions and reasonable valuations.
* Analysts suggest that investors who received allotments can book profits if the premium exceeds 25%, due to current market volatility.
* Ganesh Infraworld’s SME IPO opens today with a price band of Rs 78-83 per share, aiming to raise Rs 99 crore through the sale of 1.18 crore fresh equity shares.
* The IPO includes a retail reservation of 35% and will close on December 3, with shares expected to be listed on the NSE SME platform on December 6.
* Donald Trump plans to impose significant tariffs on Mexico, Canada, and China, potentially disrupting the North American trade pact and causing inflation.
* House Democrats are seeking legislation to limit presidential tariff powers, fearing economic consequences, as Trump’s tariffs have become a more accepted policy tool.
* Gold prices are set for a weekly decline as markets await crucial U.S. economic data that could influence the Federal Reserve’s monetary policy.
* Spot gold has fallen nearly 3% this week, trading at $2,637.71 per ounce, while U.S. gold futures also edged lower.
* The Nifty index is facing strong resistance near the 24,350-24,360 levels, indicating a potential consolidation phase ahead.
* Domestic markets closed sharply lower due to factors such as monthly F&O expiry, weak global cues, and the escalation of the Russia-Ukraine conflict.
