Stock market today: The benchmark indices, Sensex and Nifty 50, resumed their upward trend on Wednesday, November 19, supported by gains in select IT and banking majors despite mixed cues from global markets.
The Sensex ended the session at 85,186.47, up 513 points or 0.61%. The Nifty 50 advanced 143 points, or 0.55%, to close at 26,052.65. Performance across broader markets was uneven—the BSE Midcap index edged up 0.34%, while the Smallcap index declined 0.39%.
“Markets edged higher on Wednesday, with the Nifty 50 rising 0.55% to close at 26,052.65, reversing the previous session’s weakness. The index opened on a positive note and maintained its upward bias through the day, allowing the benchmark to finish near the day’s high. Sectoral performance was mixed: IT and banking stocks outperformed, while realty, energy, and metal counters lagged. In the broader market, the tone remained subdued, with the midcap index ending flat and the smallcap index slipping nearly half a per cent.
The rebound was supported primarily by unexpected strength in IT majors after Infosys announced its ₹18,000-crore share buyback effective November 20, lifting sentiment across the sector. Continued resilience in the banking space also contributed meaningfully to the day’s gains,” said Ajit Mishra, SVP, Research, Religare Broking Ltd.
Stocks to Watch
Adani Enterprises
The company has received approval from its creditors for its ₹14,535 crore offer to acquire the insolvent Jaiprakash Associates, surpassing competing bids from Vedanta and Dalmia Bharat.
JK Tyre
The company’s unit, JK Tornel, will divest 40 lakh shares of Cavendish Industries to SMMS Trust for ₹130.64 crore, but Cavendish will continue to be a subsidiary within the group.
SpiceJet
The Board has issued 83,34,091 equity shares—representing 0.55% of the company’s paid-up equity—at a price of ₹42.32 per share on a preferential basis to non-promoter entity GASL Aviation Holdings. This allotment follows the conversion of the aircraft lessor’s outstanding dues of $4 million into equity.
Reliance Industries
Reliance Consumer Products Ltd (RCPL), the FMCG subsidiary of Reliance Industries, has forayed into the pet care segment with the launch of Waggies, a pet food brand offering affordable, scientifically formulated nutrition. The company is introducing two product lines—Waggies and Waggies Pro—priced at ₹199 per kg and ₹249 per kg, respectively, and will also offer trial packs for ₹20.
NBCC India
The company has secured a project management consultancy contract worth ₹2,966.10 crore from the Nagpur Metropolitan Region Development Authority for the Phase-1 development of Naveen Nagpur.
Reliance Power
The company has set up a new management board to improve governance and provide stronger strategic oversight.
Dabur India
Dabur India has secured partial relief after the Income Tax Appellate Tribunal annulled ₹59 crore of its previous tax demand. However, the balance amount of ₹50.96 crore remains contested and is still pending before the tax authorities.
NTPC Green Energy
The company has signed a Memorandum of Understanding (MoU) with The Singareni Collieries Company for the development of renewable energy projects.
Jyoti CNC Automation
The company’s subsidiary, Huron Graffenstanden SAS, has started operations at a new production facility located within its existing site in France.
CG Power
CG Power and Industrial Solutions has been issued a tax assessment order amounting to ₹365 crore for FY 2018–19, following several additions made by the Income Tax Department under different sections.
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