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Share Market Closing Note

Indian benchmark indices ended higher for the second consecutive session on November 3 with Nifty above 19,200.

At close, the Sensex was up 282.88 points or 0.44 percent at 64,363.78, and the Nifty was up 97.30 points or 0.51 percent at 19,230.60. About 2215 shares advanced, 1351 shares declined, and 124 shares unchanged.

Apollo Hospitals, Adani Ports, Eicher Motors, LTIMindtree and Titan Company were among major gainers on the Nifty while losers were Bajaj Finserv, Dr Reddys Laboratories, SBI Life Insurance, IndusInd Bank and Tata Steel.

All the sectoral indices ended in the green with oil & gas, realty up 1-2 percent each.

BSE Midcap index rose 0.7 percent and smallcap index up 1 percent.

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Topic :- Time:3.00 PM

Nifty spot if manages to sustain and close above 19200 level then expect some further upmove in market in coming sessions and if it closes below above mentioned level then some sluggish movement can follow in the Nifty. Avoid open short positions for Monday.

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Topic :- Time:2.30 PM

CRUDEOIL Trading View:

CRUDEOIL is trading at 6913. It will find its immediate support at 6880. If it manages to hold above 6880 level then expect it to test 6960-6980 levels quite soon. Buy on every dip till it holds above 6880 is recommended in it. Only if it breaks and trade below 6880 level then some decline can follow in it.

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Topic :- Time:2.20 PM

Just In:

Raymond forays into aerospace, defense & EV components biz with Rs 682-crore acquisition

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Topic :- Time:2.10 PM

Just In:

Kotak banks insurance stake sale to Zurich group a signature Uday Kotak deal

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Topic :- Time:2.00 PM

Nifty spot if manages to trade and sustain above 19280 level then expect some upmove in it and if it breaks and trade below 19240 level then some decline can be seen in the market.As movement is quite less one can trade in small quantity or can avoid for now.

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Topic :- Time:1.50 PM

Just In:

India debuts its 50-year bond at 7.46%

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Topic :- Time:1.30 PM

SILVER Trading View:

SILVER is trading at 71086. If it manages to trade and sustain above 71120 level then expect some upmove in it and if it breaks and trade below 71000 level then some decline can follow in it.

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Topic :- Time:1.00 PM

Overall after gap up opening market is flat right now. Traders are advised to wait and watch let Nifty move before taking big positions. Nifty spot if manages to trade and sustain above 19260 level then expect some upmove in the market and if it breaks and trade below 19220 level then some decline can follow in the Nifty. Currently Nifty spot is trading at 19249.

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Topic :- Time:12.30 PM

COPPER Trading View:

COPPER is trading at 712. If it breaks and trade below 711 level then expect some decline in it and if it manages to trade and sustain above 712.80-713 level then some quick upmove is expected in it.

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Topic :- Time:12.15 PM

Just In:

PM Fumio Kishida announced a 17 trillion yen ($113 billion) tax-cutting economic relief package to combat Inflation.

Japan is now forced to reduce its historic Military budget

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Topic :- Time:12.00 PM

Nifty is shedding some of its early gains. Nifty spot is trading at 19241. If it breaks and trade below 19220 level then some decline can be seen and if it manages to trade and sustain above 19260 level then some upmove can follow in the market.

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Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex jumps 400 points, Nifty above 19,250

2. Indias services activity slows to to 7-mth low in Oct

3. Go Firsts lenders stare at ₹6,500 crore in losses

4. Indian Bank extends deadline to invest in special FDs

5. UCO Banks loan defaulters wont get sweets

6. SpiceJet boosts network with 44 new flights

7. No nation buying more planes than India

8. FTX founder Bankman-Fried convicted of defrauding cryptocurrency customers

9. Chinas services activity picks up slightly in October, sales grow: Data

10. Tata Motors surges on robust Q2 results; brokerages upbeat

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The United Arab Emirates is considering investing as much as $50 billion in India, its second-largest trading partner, as part of a broader bet on the world’s fastest-growing major economy.

Provisional pledges from the UAE could be announced early next year, people familiar with the matter said, asking not to be named as the information is not public.

Any new investments would follow Narendra Modi’s meetings with UAE President Sheikh Mohammed bin Zayed in July.

The countries have been seeking to bolster ties over the past decade, and aim to increase non-oil bilateral trade to $100 billion. Modi’s recent visit to Abu Dhabi marked his fifth trip to the Gulf nation since he took over as prime minister in 2014.

The last Indian premier to visit the UAE before him was Indira Gandhi in 1981.

Deals being discussed include stakes in key Indian infrastructure projects and state-owned assets, with announcements likely before Modi seeks a third term in federal elections due next year, the people said. Some of the investments could involve sovereign wealth funds such as the Abu Dhabi Investment Authority, Mubadala Investment Co. and ADQ, they said.

The pledges are unlikely to have clear timelines for a large chunk of the investments, the people said. No final decisions have been made on the size or timing of the announcements.

As part of the push, entities overseen by Sheikh Tahnoon bin Zayed Al Nahyan have held early-stage talks on investing billions of dollars in India, one of the people said. Sheikh Tahnoon is the UAE president’s brother and chairman of International Holding Co., which disclosed a 5% stake in Gautam Adani’s flagship conglomerate last month. That came days after IHC sold down holdings in two Adani firms, though the firm reiterated its commitment to India at the time.

Representatives for India’s finance and trade ministries, the UAE government, and Sheikh Tahnoon’s private investment firm Royal Group didn’t respond to requests for comment. ADIA, ADQ and Mubadala declined to comment.

Growth Engine
Royal Group has long prized India, and executives there have called the country a potential growth engine of the next decade, Bloomberg has reported. Sheikh Tahnoon is also chairman of ADQ as well as ADIA — one of the world’s largest wealth funds, with close to $1 trillion in assets.

Lured by a rising middle class and seeking to diversify away from traditional investment destinations like Europe, Gulf state-backed investors have boosted ties with India. Others including the Qatar Investment Authority and Saudi Arabia’s Public Investment Fund have also emerged as prominent investors in the country.

The UAE’s plan is a further indicator of the government’s push to position itself as a country that avoids taking sides in a world increasingly split between Washington and Beijing.

As one of few countries to manage close to $1.5 trillion in sovereign wealth, the UAE is a vital ally to the world’s most populous nation, which is seeking to bridge infrastructure gaps. For India, any large foreign investments would help Prime Minister Modi highlight his efforts to bolster the economy ahead of the 2024 vote.

Earlier this year, the UAE announced plans to support Turkey’s embattled economy with a $51 billion investment pledge, including about $30 billion in energy. Talks over one deal in that sector — just one part of the broader bilateral push — have collapsed, Bloomberg News has reported.