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Benchmark NSE Nifty closed 360.75 points down at 23914.15 amid selling in frontline bluechip counters.

Considering the upper price band of Rs 148, the stock is expected to list with gains of 33% over the issue price if the current trends are sustained.

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index breached its 20 DEMA in today's session, which indicates a downside breakout of the range movement of the last few sessions. The huge opening upside gap of 25th November has been filled and the Nifty closed around the gap support of 23,900 levels. On the downside, the index will find immediate support near 23,800, followed by 23,560, which is the 200-Days exponential moving average (DEMA) support level. The index is still facing strong resistance near 24,350-24,360 levels. As long as the index persists below 24,360, traders should focus on booking profits on the bounce and wait for a fresh breakout, said Hrishikesh Yedve of Asit C. Mehta Investment Interrmediates.

Shares of Prestige Estates Projects Ltd.(up 2.59 per cent), Oberoi Realty Ltd.(up 1.35 per cent), Brigade Enterprises Ltd.(up 0.74 per cent) and Phoenix Mills Ltd.(up 0.41 per cent) ended the day as top gainers in the pack.

Shares of Exide Industries Ltd.(up 2.7 per cent) and Bharat Forge Ltd.(up 0.29 per cent) ended the day as top gainers in the pack.

Domestic benchmark index NSE Nifty ended 360.75 points at 23914.15, while the BSE Sensex closed 1190.34 points down at 79043.74.

Shares of Punjab National Bank(up 1.83 per cent), Canara Bank(up 1.32 per cent), Bank of Baroda(up 1.04 per cent), State Bank of India(up 0.57 per cent) and IDFC First Bank Ltd.(up 0.18 per cent) ended the day as top gainers in the pack.

Hartmut Issel, Head Equity & Credit APAC, CIO WM, UBS Wealth Management, says they would steer more towards the largecap side. Valuation growth, risk reward look better on this level. Within sectors, consumers at zero growth is a very clear opportunity. Financials also, especially banks, provide opportunity as they have been a bit of a laggard for the longest time. They may stay away from the two-wheeler space as many of these companies have just peaked in terms of revenue or earnings momentum and that is probably going to be a multi-quarter trajectory.

U.S. allegations, denied by the company, are that Gautam Adani's colossal ports-to-energy conglomerate paid bribes to secure power sales and made misleading disclosures, roiling the stocks and debts of Adani companies.

World shares are mixed after losses for big technology stocks pulled major indexes lower on Wall Street

«There will not be a wide across the board earnings growth. There will be pockets which will show growth and which is where the market will look into,» says Rupen Rajguru, Head of Equity Investment & Strategy, Julius Baer. What is the market telling us in the sense that there has not been any incremental negative news flow as such, but it is not taking off? Do you think the interest in the overall markets is on the lower side or is it just time-wise consolidation that we will have to deal with? Rupen Rajguru: As you said what is the market looking for. So, while you said that there is no incremental negative, but at the same time there are no incremental positives. So, usually, we had this phenomenal bull run between 2020 and 2024 wherein the earnings compounded more than 20% plus for largecaps and 25% plus for midcaps and 30% plus for smallcaps.

India's global trade story has long been shaped by its relationships with two of its largest partners: the United States and China. While these relationships have grown significantly over the past decade, they show stark contrasts that often remain as lesser-known facts, at least like Crisil called it in an investr note. India’s trade with the U.S. and China reached $120 billion and $118 billion respectively in fiscal 2024, doubling over the last decade. However, the similarity ends here, Crisil said, as it notes hat India has a $35.3 billion trade surplus with the U.S., while it faces an $85.1 billion trade deficit with China.

Prabhudas Lilladher in its latest India Strategy Report while slashing its base case target for Nifty to 27,381 (27,867 earlier), recommending selective buying on dips for long-term gains. The domestic brokerage values Nifty at a 15-year average PE (19.1x) with Sept 26 EPS of 1,434 and arrives at a 12-month target of 27,381 (27,867 earlier), while in a bull case scenario, it values Nifty at PE of 20.1x and arrives at a bull case target of 28,750 from an earlier 29,260.

Higher interest rates should help prevent NIM contraction, and higher inflation could drive credit growth by an additional 100-150 bps, says Santosh Pandey, President & Head at Nuvama Professional Clients Group. Banks are currently trading at reasonable valuations, Pandey said as he opines that higher interest rates could benefit banking stocks, assuming no major surprises in asset quality. Excerpts:

Max Healthcare Institute Ltd. 2.02 per cent to Rs 986.30 in Thursday's trade. It hit a high of Rs 1015.65 and low of Rs 980.10 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 882.28, while the 50-DMA was at Rs 985.67. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

LTIMindtree Ltd. 1.75 per cent to Rs 6149.00 at 02:05PM hours (IST) on Thursday. Earlier in the day, the stock saw a gap up start to the session. As per data available on BSE, total traded quantity on the counter stood at 3,420 shares with a turnover of Rs 2.10 crore till 02:05PM (IST). The stock traded at a price-to-earnings (P/E) multiple of 39.01, while the price-to-book value ratio stood at 7.30.

MphasiS Ltd. 1.91 per cent to Rs 2958.45 in Thursday's trade as of 02:00PM (IST) even as the benchmark Nifty ruled at 24023.95, 250.96 points. The scrip had closed at Rs 3016.25 in the previous session. The stock quoted a 52-week low of Rs 2180.05 and a high of Rs 3186.95. The company quoted a market-cap of Rs 55917.03 crore on the BSE.

Indian Hotels Company Ltd. rose 1.19 per cent to Rs 779.25 in Thursday's trade. It hit an intraday high of Rs 792.00 and low of Rs 775.20, respectively, during the day. The stock quoted a 52-week high price of Rs 814.65 and low of Rs 416.15.

United Spirits Ltd. traded at Rs 1502.00 on BSE at 01:15PM (IST) on Thursday, 0.87 per cent from previous close. The scrip quoted a 52-week low price of Rs 1031.85 and a high of Rs 1648.40.

Bitcoin has bounced back above $95,000 following significant volatility over the past four trading sessions. The cryptocurrency hit an intraday low of $90,770 on Wednesday but has since rallied, driven by positive developments in the U.S. regulatory landscape and favorable market sentiment. As of 12:19 PM, Bitcoin was trading 2.6% higher at $95,550, while Ethereum, the second-largest cryptocurrency, surged 4.9% to $3,596.