The stock market saw gains last week, with the Nifty 50 and Sensex rising by about 1.5%. Nifty Bank ended at 51,135.40, and sectors like Auto, Realty, and FMCG also performed well. Broader indices showed positive results too.
Monday’s trade outlook:
- As long as Nifty stays above 23,600 and Sensex above 77,500 (their 200-day moving averages), the market may continue its recovery.
- Nifty could rise to 24,000–24,200, and Sensex might reach 79,400–79,900.
- For Bank Nifty, momentum could push it to 52,100, with support at 50,400–50,500.
As of November 25, 2024, here are stock recommendations from market experts:
Reliance Industries Limited (RIL): A diversified conglomerate with interests in petrochemicals, refining, oil, telecommunications, and retail. Its strong business model makes it a resilient choice during market fluctuations.
Bharat Electronics Limited (BEL): Recommended to buy at ₹303–308, with a stop loss at ₹290 and a target of ₹340.
NLC India: Suggested to buy at ₹270–275, with a stop loss at ₹252 and a target of ₹298.
Rashtriya Chemicals and Fertilizers (RCF): Advised to buy at ₹196–200, with a stop loss at ₹188 and a target of ₹220.
The market is expected to open on a positive note on Monday, with the GIFT Nifty up by over 433.3 points from Friday’s close. This is driven by positive global signals.
Asian stocks saw a big rally, and US equity futures also improved. The dollar weakened as bond yields went down. Investors are optimistic about Scott Bessent being named the new US Treasury Secretary, believing his appointment will bring more market-focused decisions in Washington.
Asian stock markets are up, with MSCI’s broadest index rising by 1.6%. U.S. S&P 500 futures are up by 0.5%, nearing a record high after a 0.3% gain last week. Japan’s Nikkei saw a 1.6% rise, and South Korea’s Kospi gained 1.5%. Australia’s market also performed well, rising by 0.7% and hitting a new record high. This positive trend suggests a good outlook for investors.
Wall Street ended higher on Friday, with all three major indexes posting strong weekly gains. Investors were encouraged by data showing robust economic activity in the U.S.
In November, a key business activity measure surged to a 31-month high, driven by expectations of lower interest rates and more business-friendly policies under President-elect Donald Trump’s administration next year.
The Dow Jones Industrial Average gained 426.16 points, or 0.97%, closing at 44,296.51. The S&P 500 rose by 20.63 points, or 0.35%, finishing at 5,969.34. The Nasdaq Composite increased by 31.23 points, or 0.16%, ending at 19,003.65.
Crude oil prices stayed near two-week highs due to growing geopolitical tensions between Western nations and major oil producers, Russia and Iran, raising concerns about potential supply disruptions.
Brent crude futures increased by 0.2%, reaching $75.30 per barrel, while US West Texas Intermediate crude futures also rose by 0.2%, settling at $71.38 per barrel. Both benchmarks saw a rally of around 6% last week.
Gold prices dropped slightly on Monday after hitting a three-week high earlier. This pullback was due to investors locking in profits and traders adjusting their expectations for potential Federal Reserve rate cuts, while waiting for key data that could influence interest rate decisions.
Spot gold fell by 0.6%, reaching $2,695.79 per ounce, and US gold futures dropped by 0.5%, settling at $2,697.90.
