Stock Market Crash Highlights: Sensex falls 1190pts on F&O expiry, Nifty slides to 23900, Global Voices

Stock Market Highlights Live Updates: Nifty Index Still Facing Strong Resistance Near 24,350-24,360 Levels

The Nifty opened flat and saw buying interest in the first half. However, the index faced resistance near 24,350, experienced intense selling pressure, and settled on a negative note at 23,914 for the day. The broader market indices, Nifty Midcap 100 and Nifty Smallcap 100, remained relatively ahead of the headline indices and closed on a flat note. The volatility index India Vix rose 3.96% to 15.21, indicating increasing market volatility.

Technically, on the daily chart, the Nifty has broken the 21-day exponential moving average (DEMA) support and formed a large red candle, indicating weakness. On the downside, the index will find immediate support near 23,800, followed by 23,560, which is the 200-day exponential moving average (DEMA) support level. The index is still facing strong resistance near the 24,350-24,360 levels. As long as the index remains below 24,360, traders should focus on booking profits on bounces and wait for a fresh breakout.

Bank Nifty opened on a positive note after seeing buying interest in the first half of the year but the index witnessed heavy profit booking and closed the day on a negative note at 51,907. Technically, on the daily chart, Bank Nifty has formed a bearish engulfing candle, indicating weakness. On the downside, the 21-day exponential moving average (DEMA) is placed near 51,490, which will act as an immediate support for the Bank Nifty and thereafter 50,980. Traders are advised to book profits on the bounce and wait for a sustained breakout above 52,600.

(See: Hrishikesh Yedve, AVP Technical and Derivatives Research Asit C. Mehta Investment Intermediate Ltd.)

Stock Market Highlights Live Updates: Nifty 50 falls below crucial support level of 23,940

During the day, Nifty slipped sharply, dipping below the crucial support level of 23,940. Sentiment looks bearish and further weakness seems possible from here. On the daily chart, the index has closed the gap it created recently. In the short term, if Nifty breaks below 23,870, it can continue to decline towards 23,500. However, if it sustains above 23,870 and does not make a lower low, it can see a sharp recovery towards 24,200 and above.

Talk Market Live Updates: Will Enviro Infra Engineers IPO get listed? GMP surges 33%, experts weigh in

Enviro Infra Engineers IPO GMP: Unlisted shares of specialist water and wastewater management company Enviro Infra Engineers continue to command a strong premium in the grey market ahead of their market debut, scheduled for November 29, 2024. The company’s shares are trading at around Rs. 197, reflecting a grey market premium (GMP) of Rs. 49 or 33.11 per cent over the IPO allotment price of Rs. 148, according to sources monitoring grey market movements. Read more

Stock Market Live Updates: Life insurance stocks fall; HDFC Life, SBI Life, Max Financial down up to 7%

Shares of life insurers traded weak on Thursday, falling as much as 7% on reports that insurance regulator Insurance Regulatory and Development Authority of India (IRDAI) may consider capping the parent bank's share in the total bancassurance business of insurers to only 50%, CNBC-TV18 reported citing sources.

Meanwhile, at the recently held State Bank of India (SBI) Economist Conclave, Finance Minister Nirmala Sitharaman highlighted that while bancassurance has improved insurance penetration, it has also led to mis-selling. Read More

Stock Market Live Updates: 3 PM Market Update

At 3 pm, the BSE Sensex was down 1266.04 points or 1.58 per cent at 78,968.04, while the NSE's Nifty 50 was down 381 points or 1.57 per cent at 23,892.95.

Stock Market Live Updates: Is GMP a good barometer for evaluating IPOs? Here's what experts suggest

Investors usually look at the grey market premium (GMP) of an unlisted stock before its initial public offering (IPO) to get an idea of ​​how well the issue is likely to be received by the markets and at what price it is likely to be listed. Secondary markets.