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Market Update

Nifty : 25,763.35 +41.25 (+0.16%)

Sensex : 83,978.49 +39.78 (+0.05%)

* Equity benchmark Nifty ended slightly higher, closing above the 25,700 mark, as investor focus shifted toward mid-cap and small-cap stocks following strong quarterly earnings. While large-cap stocks traded within a narrow range, keeping Nifty largely range-bound, the broader market saw a smart rally, with the Nifty 500 advance-decline ratio at 2:1. The index gained 41 points (0.2%) to finish at 25,763.

* There was strong sector-specific activity in the market — both the Nifty PSU Bank and Nifty Realty indices climbed 2%, while pharma and oil & gas indices rose 1% each. Positive market sentiment was supported by robust quarterly results, a strong October manufacturing PMI, and solid GST collections.

* Globally, sentiment improved as U.S. index futures, along with Asian and European markets, advanced up to 2%, buoyed by upbeat results from Amazon Inc. and renewed optimism around the U.S.-China trade deal.

* Among key movers, PSU bank stocks rallied after Bank of Baroda posted strong quarterly numbers and reports emerged that the government is considering a plan to merge certain public sector banks and privatize smaller lenders. Bank of Baroda jumped 4% to Rs.291, while Indian Bank, Central Bank, and Union Bank gained 1–3%.

* Real estate stocks also advanced on the back of strong earnings and firm demand. Phoenix Mills rose 4% to Rs.1,746 after reporting robust quarterly results, while Lodha, DLF, Sobha, and Prestige gained 2–3% each.

* In major news, Vodafone Idea (IDEA) surged nearly 10% to Rs.9.5 after the Supreme Court allowed the government to reassess its AGR dues up to FY2016–17 — including interest and penalties — amending its earlier order that had largely finalized the dues.

Technical Outlook:

* Nifty index opened flattish and after the initial slip to 25650 zones, the index revived and moved northward throughout the day. It eventually crossed 25800 and closed in marginal gains of 40 points. It formed a bullish candle on daily frame with longer lower shadow indicating strong buying at support zones.

* It continues to form lower highs – lower lows from the last three sessions but attempts of recovery from lower levels have helped the index float. Now it has to cross and hold above 25800 zones for momentum to build towards 25950 then 26100 zones while supports can be seen at 25650 then 25500 zones.

Derivative Outlook:

* Nifty future closed flattish at 25904 levels. Positive setup seen in Shriram Finance, Bank of Baroda, Vedanta, BPCL, Phoenix Mills, AB Capital, MCX, LTF, Lodha Developers and IIFL while weakness in Maruti, TCS, Colpal, Naukri, Voltas, Amber, Kaynes Technology, NTPC, Max healthcare and Patanjali.

* On option front, Maximum Call OI is at 26000 then 25800 strike while Maximum Put OI is at 25700 then 25750 strike. Call writing is seen at 25800 then 25750 strike while Put writing is seen at 25700 then 25650 strike. Option data suggests a broader trading range in between 25400 to 26100 zones while an immediate range between 25600 to 26000 levels.Global Market Update

Global Market Update

* Asian Market - Stocks rose in Asian trade Monday after a busy last week, with optimism supported by another AI-led tech rally on Wall Street. Investors returned from the weekend in relatively good spirits after an upbeat end to October that saw China-US tensions ease, a Federal Reserve interest rate cut, and healthy earnings from market darlings including Amazon.. Both China and Hong Kong Index gained declined 1.50% each. South Korea Index surged 2.8%. Hong Kong and Taiwan Index rose 1% and 0.4% respectively.

* European Market - European stocks open on a positive note as investors looked ahead to earnings results. Energy shares advanced alongside oil prices as OPEC+ is set to pause its output increases in the first quarter of next year.

* US Data - Manufacturing PMI.

* Commodity - oil prices advanced after OPEC+ signaled that it’ll pause output increases next quarter, following a modest hike for next month

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