Market at record high, breadth strong

29 Nov 2022 , 09:29 AM

The domestic equity barometers were trading with minor gains in the early trade on buying demand in index pivotals. The Nifty traded above the 18,060 mark. Barring the Nifty Auto index, all the sectoral indices on the NSE were in the green. At 09:26 IST, the barometer index, the S&P BSE Sensex, was up 180 points or 0.29% to 62,684.80. The Nifty 50 index gained 60.30 points or 0.32% to 18,623.05. The two benchmarks hit all-time highs in early trade today at 18,631.65 for Nifty 50 index and 62,722.34 for Sensex. In the broader market, the S&P BSE Mid-Cap index shed 0.01% while the S&P BSE Small-Cap index rose 0.38%. The market breadth was strong. On the BSE, 1,818 shares rose and 849 shares fell. A total of 119 shares were unchanged. Foreign portfolio investors (FPIs) bought shares worth Rs 935.88 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 87.93 crore in the Indian equity market on 28 November, provisional data showed. Stocks in Spotlight: Lupin gained 2.85%. The drug maker announced that its wholly owned subsidiary in Brazil, MedQu?mica Ind?stria Farmac?utica (MedQu?mica), has signed a definitive agreement to acquire all rights to nine medicines from BL Ind?stria ?tica Ltda., a subsidiary of Bausch Health Companies Inc. BSE rose 0.25%. The Securities and Exchange Board of India (SEBI) approved the appointment of Sundararaman Ramamurthy as the managing director & chief executive officer of BSE. NBCC (India) rallied 4.14%. The EPC company has received work orders aggregating to Rs 271.62 crore in two projects. The value is including of PMC charge and excluding of GST. Filatex Fashions advanced 3.56%. The company announced that it is planning for expansion of its production facility and in the process will make a capex of around Rs 300 crore in next one and a half year. Lumax Industries rose 1.39%. The company said that the meeting of the board of directors of the company is scheduled on 7 December 2022 to consider and approve the proposal for setting up of the companys new manufacturing unit in Chakan, Pune (Maharashtra) and funding options. Global Markets: Most Asian stocks advanced on Tuesday despite an overnight fall in US stocks. US stocks settled sharply lower on Monday as investors sold off amid mounting concerns over supply chain disruptions amid Covid-related protests in China. St. Louis Fed President James Bullard said Monday that the Fed should continue to raise its benchmark interest rate in the coming months and that the market may be underestimating the chance that the Fed has to get more aggressive. Federal Reserve Chair Jerome Powell will speak at the Brookings Institution about the outlook for the U.S. economy and the labor market on Wednesday. Powered by Capital Market – Live News