After opening the day marginally higher, the Indian benchmark gave up on the gain as the session progressed and ended flat with a negative bias.

Indian stocks traded flat on Friday, with both the Sensex and the Nifty trading just shy of their all-time peaks, as investors bet on impending interest-rate cuts in the US and India and looked ahead to quarterly growth data expected to remain resilient amid strong domestic demand.

At the closing bell, the BSE Sensex closed lower by 14 points.

Meanwhile, the NSE Nifty closed 13 points lower.

M&M, Adani Ports and Sun Pharma are among the top gainers today.

Power Grid Corporation, Shriram Finance and Bharti Airtel, on the other hand, were among the top losers today.

The GIFT Nifty was trading at 26,390, down by 15 points at the time of writing.

The BSE MidCap index ended flat, and the BSE SmallCap index ended 0.1% higher.

Sectoral indices were trading mixed, with stocks in the auto sector, metal sector and healthcare sector witnessing buying. Meanwhile, stocks in the oil & gas sector and the power sector are witnessing selling pressure.

The rupee is trading at 89.5 against the US$.

Gold prices for the latest contract on MCX are trading 0.5% higher at Rs 128,324 per 10 grams.

Meanwhile, silver prices were trading 0.9% higher at Rs 167,419 per 1 kg.
 

Adani Enterprises Shares Jump 2.5%

In the news, shares of Adani Enterprises rose 2.5% on 28 November to Rs 2,311, becoming the top Nifty gainer after the Adani Group announced plans to acquire a 72.8% stake in Flight Simulation Technique Centre (FSTC) for Rs 8.2 bn. The move marks the conglomerate's entry into the pilot training space.

FSTC operates 11 full-flight simulators and 17 training aircraft, offering programmes ranging from commercial pilot licence training to type ratings, recurrent sessions and specialised skill courses. It runs simulation centres in Gurugram and Hyderabad, along with flying schools in Bhiwani and Narnaul.

The acquisition will be executed through Adani Defence Systems and Technologies (ADSTL), a wholly-owned subsidiary of Adani Enterprises, along with Horizon Aero Solutions (HASL). HASL is 50% owned by ADSTL, with the remaining stake held by Prime Aero Services LLP.

With an established presence in airports and MRO services, the conglomerate is deepening its aviation footprint. India's defence pilot training ecosystem is also shaping up as a significant opportunity, mirroring civil aviation trends where simulator-based training helps reduce costs and enhance safety.
 

Why Hindustan Zinc Share Price is Rising

Moving on to news from the metal sector, shares of Hindustan Zinc climbed over 3% on 28 November to Rs 489.20, supported by a sharp surge in silver prices that lifted market sentiment. Domestic silver rates jumped by Rs 3,000 in a single day to Rs 1.76 lakh per kg, reversing the decline seen in recent sessions.

The stock has now gained for four straight sessions, advancing nearly 8% during this period and standing out among the top performers on the Nifty Metal index.

On the MCX, silver futures for December expiry rose close to 2% to Rs 1.65 lakh per kg, while the March and May contracts were up more than 1.5% each. The uptick in silver prices is being driven by strong industrial demand, tightening supplies and growing expectations of a potential Federal Reserve rate cut.
 

63 Moons Rises 16%

Moving on, shares of 63 Moons surged 16% on 28 November after the National Company Law Tribunal (NCLT) approved the National Spot Exchange (NSEL) settlement scheme, paving the way for long-awaited resolution and financial closure.

The approval effectively brings an end to the 12-year NSEL crisis and could lead to the withdrawal of all pending legal cases against the company.

Under the settlement plan, Rs 19.5 bn will be distributed among 5,682 traders based on their outstanding dues as of 31 July 2024.

The scheme was filed by NSEL, with support from parent company 63 Moons Technologies, to enable a one-time, amicable and comprehensive resolution for affected traders.

The proposal was originally put forward by the NSEL Investors Forum (NIF), which represents a significant share of the impacted trading community.

GAIL Shares Fall 6%

Moving on to news from the energy sector, GAIL's shares fell over 6% in early trade on Friday, November 28, after PNGRB finally released its long-pending transmission tariff revision late last evening.

While the tariff has been increased, the final outcome was meaningfully lower than what GAIL had expected.

Under the new order, the transmission tariff has been revised to Rs 65.7 per MMBtu, up from Rs 58.6 per MMBtu, marking a 12% hike. However, this is still well below the Rs 78 per MMBtu that the company had sought.

The PNGRB order also mentioned that critical components such as actual and future capex, operating expenditure, transmission loss, working days, and revenue-sharing adjustments will be addressed only in the next tariff review, scheduled for FY2028, with implementation from 1 April 2028.

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