Weekly Market Analysis for November 11 to 15, 2024

What happened last week?

Nifty closed the week at 24148, down 0.6% from last week. It made a lower low, indicating that it is still in a downtrend.

On the Global Front…

The U.S. stock market experienced a significant rally.

The S&P 500 saw its best post-election day performance in history, climbing 2.5%.

The US market reacted positively to expectations of pro-growth policies under Mr. Trump, which could include lower corporate taxes and reduced regulations.

The US Federal Reserve announced a 25 basis point cut in its key interest rate, reducing it to a range of 4.5% to 4.75%. This marks the second rate cut of the year, following a larger 50 basis point reduction in September.

FIIs sold ₹19637 Cr and DIIs bought ₹14391 Cr in the cash market last week.

FIIs have increased their shorts on Index Derivatives. FIIs have also reduced their longs in Stock Derivatives.

Looks like FIIs are not done with their selling spree yet. FII Sentiment continues to be Bearish.

Nifty Sentiment Analysis…

Both Weekly and Monthly Max Pain remained flat last week as indicated in the chart below.

Despite the volatility, the Monthly Max Pain has not gone below 24500. This indicates that Positional Traders are not expecting a further fall as per their current positions. But sentiments could change. We need to keep track of it everyday.

When the blue line and pink line below start moving up together, we will turn bullish. If they tread down together, we will stay Bearish. Simple.

Key Upcoming Events

November 12 (Tuesday):

• India Industrial Production

• India Manufacturing Production

• India CPI Inflation Rate MoM

November 13 (Wednesday):

• US Inflation Rate

Key Stock Announcements

New Orders & Projects:

• Polycab wins INR 4,099 crore contract from BSNL for Bharat Net project.

• NCC Limited receives new orders worth INR 3496 crore in October 2024.

• Afcons Infrastructure awarded Bhopal Metro Phase 1 project for INR 1006.74 crore.

• Solar Industries secures INR 887 crore order from Singareni Collieries.

• Azad Engineering gets USD 82.89 mn order from MHI.

• Premier Energies wins INR 560 crore solar module, cell supply order.

• NBCC receives INR 500 crore order for BIS building construction.

• Solar Industries secured INR 399.4 crore export order for defense products.

• Ashoka Buildcon wins INR 312.13 crore bid to establish Maharashtra substation.

• Voltamp Transformers secures INR 263.33 crore order from GETCO.

• Aurionpro wins INR 250 crore order for Chennai Metro Phase II AFC.

• B.L. Kashyap secures INR 250 crore order for residential project.

• NBCC receives work orders totaling INR 235.46 crore for three projects.

• DBIL wins INR 152.91 crore order for PGIMER hospital project.

• INOX India secures contract to supply tanks for UK's largest energy storage project.

• Thaai Casting receives new orders worth INR 154 crore.

• Shakti Pumps wins INR 116.36 crore solar water pump order.

• Oriana Power receives INR 83.56 crore order for 19.26 MW solar power plant.

• RVNL wins East Central Railway contract for 25KV feeder line project.

• NBCC’s subsidiary awarded INR 65 crore project for Bengaluru development.

• Paras Defence wins INR 61.43 crore contract to upgrade submarine periscopes.

• Waaree Energies wins 180 MW solar module supply order.

• RITES wins INR 36.36 crore contract for Delhi Metro RS-1 train retrofits.

• Esconet receives INR 29.23 crore order from Indian Oil.

• AVP Infracon wins a INR 14.17 crore contract to supply steel rods.

• TCS to modernize Air France-KLM's data infrastructure.

Partnerships, Acquisitions & Investments:

• L&T to acquire 21% stake in E2E Networks for INR 1407 crore.

• IHCL to acquire 55% stake in Rajscape Hotels' boutique brand.

• Wipro partners with RELEX Solutions for AI-driven retail supply optimization.

• Macrotech acquires Bain's stakes in digital infrastructure entities for INR 307 crore.

• ICICI Lombard invests in ITC and Axis Bank, boosting portfolio.

Business Operations:

• Hyundai sold 70,078 vehicles in October 2024, achieving record SUV sales.

• Royal Enfield expands into the Bangladeshi market.

• KIMS Hospitals expands to Kerala, plans 3,000 beds in 5 years.

• Apollo Hospitals plans 500-bed expansion in Mumbai and Lucknow.

• Hero MotoCorp records 13% growth in festive season sales, selling 16 lakh units.

• Cairn Oil & Gas joins UNEP's OGMP 2.0 to reduce methane emissions.

• Mahindra to introduce electric SUVs XEV 9e and BE 6e on November 26.

• Shyam Metalics commissions a new blast furnace and sinter plant in West Bengal to boost steel production.

• Royal Enfield unveils new electric motorcycles and 650cc models at EICMA.

• Honasa Consumer introduces winter skincare ranges.

• EaseMyTrip partners with Hyperface to enhance co-branded card solutions.

Management Changes:

• Navkar Corporation appoints Arun Sharma as Chief Executive Officer.

Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This weekly update highlights market trends and upcoming events for your awareness. It does not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.

FINVEZTO.COM | Actionable Stock Market Ideas and Tools