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RVNL Wins Big, HUDCO Surges on Capex Hopes, Paras Defence Advances Tech Frontiers
RVNL Wins Big, HUDCO Surges on Capex Hopes, Paras Defence Advances Tech Frontiers
Written by - Fisdom Research
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November 25, 2024
2 minutes
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Market Snapshot
Sensex and Nifty sharply advanced in morning trade on November 25, extending the significant rally from November 22, driven by the BJP-led National Democratic Alliance’s (NDA) strong performance in the Maharashtra assembly elections.
The Morgan Stanley Capital International (MSCI) quarterly reshuffle is scheduled for November 25, with the MSCI Standard/EM Index for India set to add five stocks, increasing the total to 156, with no exclusions.
Shares of public sector undertakings (PSUs) surged on Monday, with several counters gaining up to 8%, buoyed by the BJP-led alliance’s decisive victory in Maharashtra.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY PSU BANK
4.2
NIFTY FINANCIAL SERVICES
1.8
NIFTY OIL & GAS
2.8
NIFTY MEDIA
1.8
NIFTY REALTY
2.2
NIFTY PRIVATE BANK
1.6
NIFTY BANK
2.1
NIFTY CONSUMER DURABLES
1.0
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
23,900
24,550
Bank Nifty
51,400
52,500
Top News
RVNL gained 4% after receiving a letter of acceptance for a ₹837.67 crore Eastern Railway project involving earthwork, bridges, and track laying over 55.2 kilometers.
HUDCO surged over 8%, its biggest jump in seven weeks, following the BJP-led Mahayuti alliance’s Maharashtra election win, which renewed focus on the Centre’s capex plans.
Paras Defence and Space Technologies hit a 5% upper circuit at ₹1,025 after inaugurating a cutting-edge optical systems testing facility in Navi Mumbai, advancing India’s capabilities in space and defense technology.
IPO pipeline strong as 1 companies plan to raise Rs. 20,000 crore in December 2024
Zinka Logistics IPO lists at 3% premium
Niva Bupa Healthcare shares list at 6% premium over IPO price
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