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Market ends higher amid volatility; realty, PSU bank drag, IT shines:

Excpet IT, all other sectoral indices ended lower with pharma, power, realty, oil & gas, PSU bank down 1-2 percent. The BSE midcap and smallcap indoces fell 1-2 percent.

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Topic :- Time:3.00 PM

Nifty spot close below 17200 will be not good for bulls. Traders are advised to avoid open positions for tomorrow. Investors should wait for some more time before pumping in money for long delivery positions.

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Topic :- Time:2.15 PM

Just In:

No proposal to recognise Bitcoin as currency: FM Nirmala Sitharaman in Parliament.

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Topic :- Time:2.10 PM

Just In:

Go Colors brand operator Go Fashion zooms 75% in grey market ahead of listing.

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Topic :- Time:2.00 PM

Though nifty is recovering from its lows however it is not able to sustain higher level Every high is getting followed by profit booking. Nifty spot if breaks and trade below 17120 level then expect some decline in it and only if it manages to trade and sustain above 17200 level then some quick upmove can be seen in the market.

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Topic :- Time:1.20 PM

Farm Laws Repeal Bill passed by the Lok Sabha:

Congress Member of Parliament Adhir Ranjan Chowdhury protested the passage of the bill in such a manner, demanding discussion on it. The move to scrap the laws also needs the approval of the . The repeal bill was pushed through the lower house in a hasty voice vote despite opposition demands for a debate.

Congress Member of Parliament Adhir Ranjan Chowdhury protested the passage of the bill in such a manner, demanding discussion on it.

Ahead of Mondays scrapping of the legislation, farmers groups had said they would keep pushing with their protests to press the government for other demands, including legal guarantee for crop prices.

In an address to the nation on November 19, Prime Minister Narendra Modi announced the repealing of the three Central farm laws on the day of Guru Nanak Jayanti.

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Topic :- Time:1.00 PM

News Wrap Up:

1. Sensex up 300pts; Midcaps, Smallcaps continue to lag

2. Sebi wont interfere with IPO valuations, says chairman Ajay Tyagi

3. Paytm in focus again as analysts question CEO on business model

4. Farm Laws Repeal Bill passed by LS; protests to continue over MSP

5. Reliance considering bid for UK telecom firm BT in early talk

6. IndusInd Banks subsidiary defers review of decision to relieve top 2 execs

7. Raymond zooms 13% to a new 52-week high; stock up 33% in one week

8. Indigo Paints at life-time low, stock down 36% from its 52-week high

9. Vodafone Idea surges 14% on heavy volumes, stock at 9-month high

10. CoinDCX plans to pursue IPO after rules are in place

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Topic :- Time:12.50 PM

Nifty is trading at a point from where it is ready for another breakout. Nifty spot if manages to trade and sustain above 17160 level then expect some upmove and if it breaks and trade below 17080 level then some decline can be seen.

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Topic :- Nifty Opening Note

Indian Stock Market Tradingtips tips View For 29 Nov,2021:

Nifty to turn volatile and is expected to follow global cues. Investors should wait for some more decline before taking delivery long positions.

Nifty spot if manages to trade and sustain above 17060 level then expect some upmove and if it breaks and trade below 16960 level then some decline can follow in it.

Please note this is just opening view and should not be considered as the view for the whole day.

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In a notification, the ministry’s investigation arm Directorate General of Trade Remedies (DGTR), has said there is a "positive" evidence of likelihood of dumping of 'Glazed/Unglazed Porcelain/Vitrified Tiles in polished or unpolished finish with less than 3 per cent water absorption' and injury to the domestic industry, if the existing anti-dumping duty would be removed.

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The government cut excise duty on petrol by Rs 5 per litre and that on diesel by Rs 10 a litre on November 3 to give relief to consumers battered by record-high retail fuel prices.

Petrol and diesel prices remained unchanged for the 25th consecutive day on November 29 since the Central government cut the excise duty on the two fuels to bring down retail rates from record highs, according to a price notification of state-owned fuel retailers.

The government cut excise duty on petrol by Rs 5 per litre and that on diesel by Rs 10 a litre on November 3 to give relief to consumers battered by record-high retail fuel prices. The November 4 decline took the price of petrol in Delhi to Rs 103.97 a litre. The price remained the same on November 29. Diesel price also stayed unchanged at Rs 86.67 per litre on the day.

In Mumbai, fuel prices witnessed a similar trend. The petrol price remained unchanged and retailed at Rs 109.98 a litre. On May 29, Mumbai became the first metro in the country where petrol was retailed above Rs 100 per litre. Diesel price also remained the same and sold at Rs 94.14 per litre.

The petrol and diesel prices remained unchanged in Kolkata at Rs 104.67 per litre and Rs 89.79 per litre, respectively.

Chennai retailed a litre of petrol at the same price of Rs 101.40. Diesel price also remained unchanged at Rs 91.43 per litre.

The excise duty cut was the highest-ever reduction in excise duty. Reducing the excise duty, the union government also urged states to commensurately reduce or value-added tax (VAT) on petrol and diesel to give relief to consumers.

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Following this, 27 states and union territories have cut VAT to give further reprieve to consumers battered by record-high retail prices. The states/UTs that extended additional VAT benefits are Ladakh, Karnataka, Puducherry, Jammu and Kashmir, Sikkim, Mizoram, Himachal Pradesh, Daman and Diu, Dadra and Nagar Haveli, Chandigarh, Chhattisgarh, Assam, Madhya Pradesh, Tripura, Gujarat, Nagaland, Punjab, Goa, Meghalaya, Odisha, Rajasthan, Arunachal Pradesh, Manipur, Andaman and Nicobar, Bihar, Uttarakhand, Uttar Pradesh and Haryana.

States that have so far not lowered VAT include Congress and its allies ruled Maharashtra, Jharkhand and Tamil Nadu. AAP-ruled Delhi, TMC-governed West Bengal, Left-ruled Kerala, TRS-led Telangana and YSR Congress-ruled Andhra Pradesh have also not cut VAT.

Congress-ruled Punjab has seen the biggest reduction in the price of petrol in the country after it cut local sales tax or VAT the most while UT of Ladakh witnessed the largest reduction in diesel rates for the same reason.

Article source:- Moneycontrol