India Market Recap

Indian equity markets extended their gains on Wednesday, November 11, with the Sensex and Nifty closing firmly in positive territory, supported by strong buying in PSU banking and automobile stocks. The BSE Sensex advanced 773 points, or 0.95%, to close at 81,879.40, while the Nifty 50 gained 210 points, or 0.84%, to settle at 25,255.05. The Nifty Bank index also outperformed, rising over 1.7%. On the technical front, immediate support for the Nifty is placed around 25,000–25,100, while resistance is seen in the 25,350–25,450 range.

US Market Recap

US equity markets staged a strong rebound on Wednesday, led by sharp gains in CoreWeave and renewed buying interest in Nvidia following two consecutive sessions of losses in the chipmaker. Technology stocks supported the broader market recovery, with the Nasdaq Composite surging 1.60% to close at 25,466.19. The S&P 500 advanced 1.31% to 7,619.38, while the Dow Jones Industrial Average gained 255 points, or 0.49%, to settle at 52,486.49.

Asian Market Update

Asian markets traded on a mixed note early Thursday, following the positive close on Wall Street, as investors assessed regional market cues and technology sector performance. Japan's Nikkei 225 traded marginally higher amid volatile movements, while the broader Topix gained 0.62%. In South Korea, the Kospi declined 0.35%, while the small-cap Kosdaq slipped 0.66%. Australia's S&P/ASX 200 also remained under pressure, falling 0.31%.

Commodity Check

Crude oil prices moved higher on Wednesday after touching two-month lows in the previous session, supported by renewed geopolitical concerns surrounding Iran's nuclear programme. Iran's security chief stated that Tehran would not permit the removal of any enriched nuclear material from the country, complicating prospects for negotiations with Washington. Brent crude futures gained $1.27, or 1.39%, to settle at $92.76 per barrel, while US West Texas Intermediate (WTI) advanced 49 cents, or 0.57%, to close at $86.53 per barrel.

Stocks in News

• Adani Enterprises: Kutch Copper received Veramark assurance, supporting its operational and quality assurance processes.
• Vintage Coffee: Allotted 39 lakh warrants to the promoter group at an issue price of ₹164 per warrant.
• Alivus Life: Signed a shareholders' agreement with IQGEN-X Pharma to acquire a 76% stake in the company.
• Bajaj Finance: Opened its Qualified Institutional Placement (QIP) issue with a floor price of ₹992.25/share, with a provision to offer up to a 5% discount.
• Sandur Manganese & Iron: Received Environmental Clearance (EC) from the Ministry of Environment to increase iron ore Run-of-Mine (RoM) production capacity from 7.85 MTPA to 9.42 MTPA.
• Jeena Sikho Life: Launched 10 new products in the Ayurvedic healthcare and wellness segment, expanding its product portfolio.
• Tata Power: Approved an investment of ₹11,871 crore in an additional 1,800 MW pumped storage project. Appointed Sanjay Banga as CEO-designate, who will take over as MD & CEO for five years from May 1, 2027.
• Time Technoplast: Secured an order worth ₹38 crore for the supply of composite LPG cylinders.
• Aurobindo Pharma: US FDA classified its Seymour manufacturing facility as Official Action Indicated (OAI) following an inspection conducted from August 17–21, during which four observations were issued.
• Aegis Logistics: Opened its QIP issue with a floor price of ₹1,161.85/share.