After opening the day on a positive note, Indian share markets slipped into the red as the session progressed and ended marginally lower.

Benchmark indices opened in green, supported by gains in index heavyweights like HDFC Bank, Reliance, and IT stocks.

The positive US inflation data also fuelled expectations of a Federal Reserve rate cut in December.

However, FMCG stocks came under pressure as the session progressed, while weak earnings from a few companies took a toll on the entire market.

In the previous session, equity indices saw a steep decline, with the Sensex plummeting over 980 points and the Nifty sliding below the 23,600-mark. This sell-off was triggered by a spike in inflation, which diminished expectations of a rate cut next month.

At the closing bell on Thursday, the BSE Sensex stood lower by 111 points (down 0.1%).

Meanwhile, the NSE Nifty closed lower by 26 points (down 0.1%).

Kotak Bank, Reliance, and Tech Mahindra were among the top gainers today.

HUL, Nestle, and NTPC, on the other hand, were among the top losers today.

The BSE MidCap index and the BSE SmallCap index ended higher by 0.4% and 0.8%, respectively.

Shares of JSW Holdings, Garware Hi-Tech Films, and Kiri Industries hit their respective 52-week highs today.
 

Why SpiceJet Share Price is Rising

In news from the airlines sector, SpiceJet share price jumped over 4% on 14 November 2024 after the airline settled US$ 90.8 million (m) dispute with Export Development Canada (EDC) for US$ 22.5 m, taking ownership of thirteen Q400 planes.

This resolution will result in savings of US$ 68.3 m.

SpiceJet has also acquired the full ownership of 13 EDC-financed Q400 aircraft and the development will help in reducing operational costs. These aircraft will also enable SpiceJet to launch additional flights on regional and UDAN routes.

Ajay Singh, Chairman and Managing Director of SpiceJet, said the resolution allows the airline to move forward with a strengthened balance sheet and focus on getting Q400 aircraft back into service as quickly as possible.

SpiceJet recently raised Rs 30 bn via a qualified institutional placement (QIP) as a pivotal point in its financial recovery initiative.
 

Defence Major Declares Q2 Earnings

Defence major Hindustan Aeronautics (HAL) on Thursday reported a consolidated net profit of Rs 15.1 billion (bn) for the quarter ended September 2024, rising 22% over Rs 12.4 bn reported in the year-ago period.

The company's revenue came in at Rs 59.8 bn, gaining 6% over Rs 56.4 bn posted by the company in the corresponding quarter of the previous financial year.

HAL's expenses climbed just over 1% YoY to Rs 45.1 bn as against Rs 44.6 bn posted in the year-ago period.

The company's total assets at the end of the quarter stood at Rs 865.3 bn.

HAL is strategically pivoting towards the development of its own products, including advanced fighter aircraft and helicopters.

Going forward, to meet the growing demand, HAL has established a new production line in Nashik for the LCA Mk-1A, complementing the existing line in Bengaluru.

This expansion will enable HAL to increase its production capacity from 16 to 24 LCA Mk-1A jets annually, with the delivery of the 87 jets expected to be completed by 2028.

To support this ramp-up, HAL is also expanding its manufacturing facilities. A new helicopter manufacturing facility is being set up in Tumkur.
 

Jio Financial Shoots Up on F&O Inclusion

Shares of Jio Financial Services surged on Thursday following the National Stock Exchange's (NSE's) announcement to introduce 45 additional stocks in its futures and options (F&O) segment.

This will be effective from November 29 and it includes some notable names such as Zomato, Avenue Supermarts, BSE, Yes Bank, Paytm, LIC, and Jio Financial Services.

Some of the other stocks include Adani Energy, Adani Green Energy, Angel One, Adani Total Gas, Bank of India, CDSL, Cyient, Delhivery, Hudco, Nykaa, KPIT Technologies, Oil India, Tata Elxsi, Tube Investments, PB Fintech, JSW Energy, Jindal Stainless.

NSE ensures that only stocks that have high amounts of liquidity are eligible for inclusion in the F&O segment.

Additionally, the exchange looks for stocks that maintain a minimum threshold of average daily turnover and do not have excessive price fluctuations, creating a more stable environment for derivatives trading.
 

Bitcoin Tops $93K

Moving on to news from the crypto space, Bitcoin prices spiked above $93,000 for a short period as expectations of further interest-rate reductions by the Federal Reserve added to the impetus from President-elect Donald Trump's pro-crypto stance.

Investors in bitcoin are trying to figure out whether Trump's rhetorical support for digital assets will continue to propel the crypto, opening a path to US$100,000.

Note that Bitcoin is up over 100% in 2024 so far.

This rally seen in 2024 was helped by robust demand for bitcoin-based exchange-traded funds (ETFs) and interest-rate cuts by the Federal Reserve.

At the start of this year in January 2024, when Bitcoin prices were hovering near $45K, we wrote to you about Bitcoin explaining why the crypto adoption may take place this year.

We explained why it was important that you spend some time to re-evaluate what is happening in the crypto space... it's not for any reason that Bitcoin is one of the best performing asset over the last decade despite all the chaos and uncertainty surrounding it.

Things could get really interesting over the next few months once there's more clarity on how Trump proposes to promote bitcoin, bitcoin mining, and ultimately create a bitcoin strategic reserve.

A bitcoin strategic reserve would be a gamechanger... it will be unlike anything we have seen before.

Once US implements this, every nation and every central bank would have to quickly create a bitcoin strategy.

Equitymaster's "fundamental" take on cryptos is in line with the approach anyone should have when dabbling in a space one does not understand.

Invest only what you can afford to lose. Nothing more.

Happy Investing.

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