Overview:

• Sensex and Nifty traded marginally higher despite weakness in broader markets and continued FII selling.

• Major movers included Adani Enterprises, M&M, and GAIL. Selective stocks registered sharp gains or losses.

• Investor sentiment during the session was led by corporate developments, IPO activity, and a weakening rupee.

Indian stock market today rallied with benchmark indices showing an uptrend. Sensex rose 0.18% by 155.48 points and was trading at 85,875.86. Meanwhile, Nifty 50 moved 0.14% higher by 37.60 points and settled at 26,253.15 levels. However, the broader market depicted weakness as BSE Smallcap index declined 0.06%. Here is how individual stocks performed based on data from Moneycontrol Live Updates. 

Banking and Sectoral Performance

Nifty Bank index traded almost flat with a gain of 0.16% to 59,832.85. IT stocks also moved very little with Nifty IT index up only 0.01%. So far, subdued performance across sectors reflects investor caution amid mixed global cues and domestic developments.

Adani Enterprises led the gainers in the Nifty 50 pack, up 2.62% to Rs 2,314. The company was followed by Mahindra & Mahindra, which rose 2.03% to Rs 3,755.80. Other top gainers in the pack were Kotak Mahindra Bank, JSW Steel, and SBI, up between 0.77% and 1.30%.

On the losing side, Shriram Finance declined 1.65%. It was followed by insurance majors like HDFC Life that fell 1.41% and SBI Life Insurance posted a decline of 1.22%. Other losers during the trading session included Power Grid Corporation and Tata Consumer Products.

Stocks in Focus

Welspun Living surged 7.03% to 141.65, a gain not seen in 11 weeks. The stock changed hands in volumes almost 400% of its five-day average, suggesting heavy buying interest. Eureka Forbes had equally impressive gains, rising 5.69% to Rs. 642, for its biggest single-day gain in six months.

GAIL share price declined 6% after the petroleum regulator declared a 12% hike in transmission tariff against expectations of 20%. Nectar Lifesciences rallied 20% after the company said its board would consider a share buyback proposal on December 3.

Also Read: Reliance Infra Share Price Rally 5% to Rs. 166.95: What’s Fueling the Sudden Spike?

Major Corporate Announcements

Some firms were in the news for various announcements. Ashoka Buildcon was temporarily suspended from bidding for NHAI projects after the issue of a show-cause notice on account of a construction accident. It has been suspended for a month or till an expert committee investigates the incident.

Himalaya Wellness has announced a partnership with Unicommerce, strengthening its e-commerce operations and driving omnichannel expansion. The collaboration will drive improvement in inventory management and enhance consumer experiences across e-commerce and brick-and-mortar stores.

Bajaj Healthcare said it has appointed Shreekumar Shankarnarayan Nair as Chief Operating Officer. The stock rose 3.63% to Rs. 442.80 on the news.

Tata Technologies completed its acquisition of 100% equity shares of Es-Tec GmbH and its subsidiaries for Euro 75 million. The Adani Group announced its intention to acquire a 72.8% stake in Flight Simulation Technique Centre for Rs. 820 crore, marking another major expansion move.

IPO and Market Debut

The primary market remained active with Meesho gearing up to launch its IPO next week to raise Rs. 5,421.05 crore. Aequs, in a separate development, fixed the IPO price band at Rs. 118-124 per share; the issue is scheduled to open on December 3.

Shares of Sudeep Pharma made a strong market debut, listing at a 23 per cent premium over the IPO price on both NSE and BSE.

FII and DII Activity

FII were net sellers with an outflow of Rs. 1,255.20 crore, while DIIs supported the market with strong net buying of Rs. 3,940.87 crore. The trend depicts that though there is a foreign selling pressure, domestic investors are still showing confidence in the share market news.

Currency and Key Events

Indian rupee opened weaker, at 89.38 per dollar, against the previous close of 89.30, indicating sustained pressure on the domestic currency. This weakness has come amidst global dollar strength and apprehensions of capital outflows.

Also Read:  Stock Market Today: Sensex Hits 85,865, Nifty at 26,250 as HDFC Bank Gains 0.90%

Investor Outlook

The mixed show in the Indian stock market today reflects sustained uncertainty over global economic conditions and domestic policy measures. The continued FII outflows and pressure on the rupee keep market participants cautious. Strong domestic institutional support, however, provides stability, and selective buying in quality stocks continues to offer opportunities for long-term investors.

FAQs

1. Why did the Indian stock market trade higher today?

Indian stock market finished positively today, mainly due to the large amount of buying from Domestic Institutional Investors (DII). Domestic Institutional Investors are responsible for absorbing the effects of the large volume of selling by Foreign Institutional Investors (FII) today. The markets appeared to be under pressure from mixed signals from overseas, a decline in the value of the Rupee against the US Dollar and some large-cap companies being supported by buying, with both the Sensex and the Nifty 50 trading marginally higher.

2. Which stocks performed the best in the market today?
The Indian stock market saw a number of significant upward movements with some companies, in particular, such as Adani Enterprises, Mahindra & Mahindra, Kotak Mahindra Bank, JSW Steel and State Bank of India, having some of the largest upward movements on the Nifty 50. Other companies, such as Welspun Living and Eureka Forbes, also saw strong upward movements, driven by a strong positive market reaction.

3. Why did GAIL shares fall sharply today?

Gail India’s shares declined over 6%, as a result of the announcement from the Petroleum and Natural Gas Regulatory Board that transmission tariffs were increasing by only 12%, rather than the expected 20%. The disappointing news created anxiety among investors in the company, leading to a large sell-off of shares today and a rapid decline in value over a very short period, even under otherwise positive market conditions.

4. Which corporate news or updates have had a material impact on stock prices?

The corporate news issued on the day included Ashoka Buildcon Limited being temporarily suspended from the bidding process by NHAI and Himalaya Wellness partnering with Unicommerce. Also, Bajaj Healthcare Limited has appointed a new Chief Operating Officer. Positive developments for some sectors include Tata Technologies Ltd.'s acquisition of Es-Tec GmbH and Adani Group LLC's acquisition of Civil Aviation Flight Simulation Services.

5. Were there any indications from FII or DII buying or selling in reference to stock price movement today?

Foreign Institutional Investors (FIIs) sold more than Rs. 1,200 Crore of equities net on the day due to uncertainty about currency volatility and global economic conditions. In contrast, Domestic Institutional Investors (DIIs) supported the market through significant net buying of close to Rs. 4,000 Crore, effectively stabilizing EEDs and pushing equity index levels higher despite the overall weak bullish momentum during the session.