Here are the key highlights from today's trading session:

1. Market back in the green after a day of pause

2. Market has posted gains in 9 of last 10 trading sessions

3. Nifty rises 29 points to 12,720 & Sensex 86 points to 43,443

4. Nifty Bank moves 187 points higher to 28,466 & Midcap 171 points to 18,353

5. Market Breadth favours advances; advance-decline ratio at 3:2

6. ICICI Bank, RIL, Axis Bank & Infosys help Nifty close higher

7. ICICI Bank lifts Nifty Bank by 133 points while HDFC Bank drags by 75 points

8. Eicher Motors top Nifty gainer after reporting better-than-expected earnings

9. Tata Steel moves higher on reports of European business sales; stock up 3%

10. Tata Motors, L&T, HDFC, UPL & HDFC Bank top Nifty losers

11. Indiabulls surges over 9% after Rakesh Jhunjhunwala buys 50 lakh shares

12. Indiabulls Housing up over 6% on government's announcement for the sector

Nov 13, 2020 4:03 PM

Closing Bell: Sensex gains 85 points, Nifty ends above 12,700; pharma, metal stocks lead

The Indian benchmark equity indices, Sensex and Nifty ended Friday’s volatile session higher led by gains in pharma, financials and realty stocks.

The Sensex ended 85.81 points or 0.20 percent higher at 43,443.00 while the Nifty gained 29.15 points or 0.23 percent to close at 12,719.95.

Broader indices outperformed the benchmarks as the Nifty Smallcap100 and Nifty Midcap100 indices gained 0.8 and 0.9 percent, respectively.

Nov 13, 2020 3:37 PM

Diwali 2020: Gold price rallies over 29% in one year; likely to hit Rs 65,000 per gms next Dhanteras

Diwali - the Festival of Lights - always brings cheers to markets, more so to bullion markets. Traditionally, Indians buy at least a small quantity of gold, especially on Dhanteras day, believing it will bring good fortune, wealth and prosperity.

Gold prices have rallied over 29 percent since last Diwali, becoming one of the best performing asset classes. Silver prices are also up more than 35 percent. Both the precious metals made a high in the month of August. But a recent correction just ahead of the festive season is likely to support the bullion prices.

The price of precious metals soared after the March lockdown as the economic distress caused by the COVID-19 pandemic enhanced safe-haven demand amid times of uncertainty. Bullion prices also were boosted from weakness in the rupee by around 5 percent since Diwali in 2019. Read more

Nov 13, 2020 3:14 PM

Sitashwa Srivastava, Co-founder & Co- CEO Stockal: We have seen a rise in general interest in Gold ETFs recently and indicators seem to suggest increased buying on the Dhanteras day. Some of the most prominent Gold ETFs have registered a rise of 20% YTD earlier this month. We expect remittances to grow another 20-30% during the next 2 weeks of festive season . Although globally there are a few fluctuations in gold and silver due to the sudden announcement of vaccine, investors can be assured that gold will revive soon and continue to give them long term benefits.

It is good to have gold assets in your portfolio, and Dhanteras is the perfect time to invest as it not only serves as a growing asset class but also protects the buyers from purity concerns that come from buying physical gold. Gold will continue to be a stable form of money with potential to store value in the midst of this global currency debasement and hence continue to be a preferred portfolio asset generating good risk adjusted returns for its holders for the foreseeable future, added Srivastava.

Nov 13, 2020 3:01 PM

Stock Update: Inox Leisure raised Rs 250 crore from a qualified institutional placement (QIP) of shares. The QIP issue, involving selling over 98 lakh shares at Rs 255 a share, which carry a face value of Rs 10, was oversubscribed 3.5 times by marquee global and domestic institutional investors, the company said in a statement. At 3 pm, the share price traded a percent lower to Rs 266.50 per share on the NSE.

Nov 13, 2020 2:56 PM

Renewable Energy Minister Ra jK Singh says scope Of PM-KUSUM scheme expanded for solar energy generation in farm sector. Size of solar plant has been reduced to enable participation of small farmers

Nov 13, 2020 2:43 PM

Just In | RBL Bank announces the completion of its fundraise through preferential allotment. The bank’s total Capital Adequacy Ratio increases to 18.7 percent and Core Equity Tier I Ratio to 17.4 percent. Total net worth crosses Rs 12,000 crore.

Nov 13, 2020 2:23 PM

BSE signs MoU with Premier Bullion Trade Associations across India on Dhanteras day

BSE has signed a Memorandum of Understanding (MoU) with premier bullion trade and industry associations based in Sangli and Yavatmal in Maharashtra, Amritsar in Punjab and Ahmedabad in Gujarat. The associations include Sangli Sarafa Association, Yavatmal Sarafa Association, Amritsar Sarafa Association, Shree Choksi Mahajan Association and Gems and Jewellery Trade Council of India (GJTCI). These associations collectively represent close to 2200 members, engaged in retail sale and trade of bullion.

This MoU aims to facilitate cooperation between BSE and physical markets represented by these trade bodies for knowledge sharing or exchange of ideas, education & training, events as well as to explore areas of mutual benefits to ensure the best interests of jewellers.

Through this association, BSE aims to organize seminars and awareness programmes on price risk management for bullion traders and jewellers, and help them shift to more organised forms of trading. Awareness about effective hedging tools such as derivatives contracts, including futures and 'options in goods' to enable jewellers face a volatile market would will also be provided. The 'options in goods' contract offered by BSE makes it extremely beneficial for jewellers and bullion dealers, who can not only hedge their price risk but also avail delivery on expiry of the contract, the exchange said in a release.

Nov 13, 2020 2:16 PM

Inox Leisure raises Rs 250 crore from QIP

Multiplex chain Inox Leisure on Friday raised Rs 250 crore from a qualified institutional placement (QIP) of shares. The QIP issue, involving selling over 98 lakh shares at Rs 255 a share, which carry a face value of Rs 10, was oversubscribed 3.5 times by marquee global and domestic institutional investors, the company said in a statement.

The QIP, which opened on November 9 and closed on November 12, got a subscription from investors like the Abu Dhabi Investment Authority, Eastspring Investments, ICICI Prudential, Birla Mutual Fund, Nippon India Mutual Fund, DSP Mutual Fund and Sundaram Mutual Fund, among others.

The issue allocation is around 69 percent and 31 percent to domestic and foreign investors respectively, the company said. Read more here.

Nov 13, 2020 2:09 PM

Just In | Moody's affirms Macrotech Developers’ (Lodha) USD bond rating; Outlook upgraded to Stable from Negative.

Nov 13, 2020 2:04 PM

3M India reports weak earnings YoY

Nov 13, 2020 1:59 PM

Motilal Oswal on Eicher Motors: We believe the recently launched Meteor and upcoming products of Eicher Motors would help expand addressable markets and drive the next phase of growth for RE. New products led volume recovery would drive margin recovery in FY22. The stock trades at 27.5/22xx FY22E/FY23E consol. EPS. We maintain buy, with target of Rs 2,670.`

Nov 13, 2020 1:54 PM

Krish Raveshia, CEO of Azlo Realty: The government allowing a difference of 20% between the circle rate and the agreement value is a step in the right direction. Like stamp duty, this move too is time-bound and calls for action immediately. The move is a win-win for both developers and homebuyers. It will help reduce the high inventory, reduce the cost of acquisition for homebuyers. Real estate prices in many pockets of India have remained subdued, declined in some cases, a higher difference will help address this issue.

The additional Rs 18,000 crore spending under PMAY will help funding for stuck housing projects. The move is likely to help completion of nearly 12 lakh housing units, create 78 lakh jobs. As the real estate sector is connected with many other allied sectors the move is likely to boost demand in multiple sectors mainly steel and cement, added Raveshia.

Nov 13, 2020 1:32 PM

Sources tell us that a Govt investment cell has identified 36 companies that plan relocating supply chain from China.

Nov 13, 2020 1:13 PM

November may finally bring India's two-wheeler market out of the red, but post-Diwali period to be critical

After a 27 percent decline in two-wheeler registrations reported by the country's auto dealers' association in the month of October, November looks poised to be a month that arrests this decline. On a yearly basis, auto dealers and OEMs anticipate November will bring back some traction in the commuter segment of two-wheelers, forming about 75 percent of total two-wheeler sales - however, with an important caveat.

Because the auspicious days of Dhanteras and Diwali, on which the bulk of deliveries during the festive season take place, fell in the month of November this time, the North and Central regions saw muted retails in October. The commuter segment of two-wheelers draws the bulk of its buyers from states in this region, including Uttar Pradesh and Bihar. Owing also to this fact, retail registrations will report a definite pick-up as against November last year. Here's more on this

Nov 13, 2020 12:48 PM

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