Pre-Market Analysis 
18-Nov-2024

Nifty witnessed selling from higher levels on Thursday and closed marginally in red as FIIs selling slowed down. We expect a neutral market today. It has support at 23350.

Bank Nifty ended the day in green and outperformed the broader market. Our view is neutral for today. It has support at 49700.

Stocks in news

PRESTIGE: Acquires 22,135 sq. meters in Mira Bhayandar.
HCLTECH: Launches AI labs with ServiceNow, expanding its global network.
HAPPSTMNDS: Expects H2 growth from $2M Generative AI investment.
GAIL: Signs 10-year deal with ADNOC for 0.52 MMTPA LNG delivery from 2026.
MANINFRA: MICL focuses on Mumbai luxury, exits Dahisar Phase 3.
IRBIT: Offers 5 highway assets to Invit; aims for ₹300B new road pipeline.
RPPINFRA: Wins ₹38.32 Cr Tamil Nadu road project.
NURECA: Signs distribution deal with Zepto.
WABAG: Secures ₹1,000 Cr desalination plant order in Andhra Pradesh.
ACME: Gets ₹3,753 Cr REC loan for Rajasthan, Gujarat projects.
MARICO: Forecasts food inflation easing, H2 double-digit growth.

Quick Takeaways

-Manufacturing slump likely to hit India’s Q2 GDP growth to six-quarter low-FPIs reduce pace of selling in Indian equities in two weeks of November-Weak urban demand weighs on FMCG firms in Q2 despite rural market recoveryF&O Stocks in Ban : Aarti Industries Ltd., Aditya Birla Fashion and Retail Ltd., Granules India Ltd., Gujarat Narmada Valley Fertilizers & Chemicals Ltd., Hindustan Copper Ltd.