Market Highlights

• The Nifty gained for the third consecutive session, closing at 24,457.2, its highest level in nearly a month, with a 0.75% gain (+181.1 points).

• Cash market volumes on the NSE surged by 16% to ₹1.15 lakh crore, reflecting strong investor participation.

Key Gainers

1. Ola Electric: Closed at ₹98.54 (+5.43%). The stock rallied on plans to open 4,000 new stores across India, signaling aggressive expansion.

2. TVS Motor: Closed at ₹2,556.20 (+2.52%). The rise was driven by Sundaram Auto Components’ sale of a division for ₹215.3 crore, improving financial health.

3. Gland Pharma: Closed at ₹1,812.45 (+1.82%). The stock gained after receiving US FDA approval for Latanoprost solution, strengthening its product pipeline.

Key Losers

1. ITC: Closed at ₹472.22 (-0.97%). The decline was due to concerns over a proposed GST hike on sin goods, impacting investor sentiment.

2. Indoco Remedies: Closed at ₹320.40 (-0.50%). The stock saw a marginal dip despite partnering with Clarity Pharma for UK product launches, reflecting muted market response.

3. Solar Industries: Closed at ₹10,479 (-0.58%). The stock witnessed slight profit booking despite securing defense orders worth ₹2,039 crore, showcasing a strong order book.

Market Outlook

The Nifty continues to show a positive trend, with bullish sentiment driving upward momentum. A decisive break above 24,500 could lead to the next target of 24,900 in the near term, while immediate support stands at 24,300, providing a cushion for any short-term volatility.

Global Economic Calendar

Key global events to watch this week:

• December 4, 2024: Eurozone Retail Sales Data, offering insights into consumer demand trends across the EU.

• December 5, 2024: US Jobless Claims Report, a crucial indicator of labor market health in the United States.

• December 6, 2024: RBI Monetary Policy Meeting Outcome, where India’s central bank will announce its interest rate outlook and policy updates.

• December 6, 2024: US Non-Farm Payroll Data, essential for gauging economic growth and Federal Reserve policy direction.

• December 8, 2024: China Inflation Data, measuring price stability and economic activity in the world’s second-largest economy.

Takeaway:

With Nifty’s positive momentum and significant global events on the horizon, investors should monitor market developments closely and strategize their portfolios for potential opportunities.

Stay informed and stay ahead with Angeeras Securities—your trusted wealth partner.