“We hold bearish view on crude oil amid softening demand from Asia and US that is visible through the surging US commercial inventories. WTI is headed towards fourth straight weekly decline and is trading near four-month lows. WTI December at $78.55 is holding gains on Friday following 5% fall in the previous session due to weaker economic data from US showing jump in weekly jobless claims and declining housing index. Global oil demand tracker showed demand averaged 101.6 million barrels a day (bpd) in the first half of November, running 200,000 bpd lower than its projection for the month. The supplies from Iraq, Nigeria and Angola is rising, the US production is standing at 13.2mbpd, while according to media report US energy co. are planning to ship Venezuelan oil to China, these development will act as headwind for oil prices in medium term. We expect WTI crude oil prices to see some more correction in coming weeks, we see prices trading below $70/b We advise selling crude oil rallies for the lower targets. For the day resistance remains around $75 and expect to test the support of $70,” said Mohammed Imran – Research Analyst at Sharekhan by BNP.

RBL Bank, AB Capital, SBI Cards, L&T Finance, and Manappuram Finance are the top losers on F&O basket.

IRCTC, SBI Life Insurance, ICICI Lombard, TVS Motors, and HDFC AMC are the top gainers on F&O basket

State Bank Of India, Axis Bank, ONGC, Bajaj Finance, and BPCL are the top losers on NSE Nifty 50 index.

SBI life Insurance, Apollo Hospitals, HDFC Life Insurance, Hero MotoCorp, and Grasim are the top gainers on NSE Nifty 50 index.

“The immediate impact of the RBI action to increase the risk weight on certain categories of unsecured loans, loans to NBFCs and credit card loans is that this will increase the capital requirements of banks, which, in turn, will increase their cost of capital. Since the credit demand in segments like unsecured retail loans is robust, banks can easily pass on the increased cost to borrowers. So, there will be a marginal increase in the cost of credit to borrowers. The impact on banks’ profitability will be negligible. From the perspective of macro financial stability this is a welcome decision,” said Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Railway shares gained, led by Titagarh Railway Systems, surged by more than 18%, followed by IRCON International, up by 7.78%, Railtel, up by over 10%, Texmaco Rail, up by 6%, and Rail Vikas Nigam, up by more than 5%.

The Nifty PSU bank lost 2.18% to 5,075.75 in intra-day trade on Friday. Bank of Baroda, Canara Bank, Indian Overseas Bank, UCO Bank, and Bank of India are the top losers on the Nifty PSU Bank index.

The shares of Fsn-E-Commerce Ventures (Nykaa) gained over 7.7% to 164.30 in intra-day trade on Friday. Nykaa shares turned positive for 2023 after experiencing the best single-day gain in five months.

State Bank Of India, Axis Bank, ONGC, Bajaj Finance, and ICICI Bank are the top losers o NSE Nifty 50 index.

SBI Life Insurance, HDFC Life Insurance, Hero MotoCorp, Apollo Hospitals, and Asian Paints are the top gainers on NSE Nifty 50.

The Nifty Media index gained over 1% to 2,299 in intra-day trade on Friday. Saregama, Dish TV, Sun TV, TV18 Broadcast, and PVR Inox are the top gainers on the Nifty Media index

SBI Life Insurance, Hero MotoCorp, Apollo Hospital, Bajaj Auto, and Eicher Motors are trading at their 52-week high.

The stock of InterGlobe Aviation gained 2.63% to 2,634.65 following the news that IndiGo continued to dominate the Indian skies with a 62.6% market share in October, according to domestic air traffic data.

“The anticipated pull back stretched beyond 83.19 surprisingly, forcing us to abandon the downside prospects. As upswings push on, they will now face challenges from 83.30, which has been a daunting challenge for all through this month and the previous. We will wait for a push beyond the same or a drop below 83.02 for directional plays,” said Anand James, Chief Market Strategist at Geojit Financial Services

SBI Life Insurance, ICICI Lombard, Indiabulls Housing Finance, ICIC Prudential, and HDFC Life Insurance are the top gainers on F&O basket

“Barring an extreme scenario, given the sharp plunge yesterday, which could see extended profit booking towards 19540 or 19450, we are well poised to extend the upside objective to 20100. This would require Nifty to get back above 19740 after initial indecisiveness though, but it would not be surprising to expect a sideways move,” said Anand James, Chief Market Strategist at Geojit Financial Services

“Nifty weekly contract has highest open interest at 19800 for Calls and 19700 for Puts while monthly contracts have highest open interest at 20000 for Calls and 19000 for Puts. Highest new OI addition was seen at 19800 for Calls and 19750 for Puts in weekly and at 20300 for Calls and 19750 for Puts in monthly contracts. FIIs increased their future index long position holdings by 8.67%, decreased future index shorts by 6.22% and decreased in index options by 0.66% in Call longs, 3.16% in Call short, 0.60% in Put longs and 5.05% in Put shorts,” said Anand James, Chief Market Strategist at Geojit Financial Services

Banks and NBFC companies are in focus following the news that the Reserve Bank of India has made consumer lending more expensive for both banks and non-bank lenders. The RBI has also instructed them to limit exposure to such loans due to growing risk concerns. Consumer loans will now attract a credit risk weight of 125%, compared to the previous 100%. Similarly, for NBFCs, consumer loans will also carry a risk weight of 125%.

Sona Blw Precision, Bajaj Auto, Hero MotoCorp, Mahindra & Mahindra, and TVS Motors are the top performing stocks on Nifty Auto index.

Paytm share in focus following the news that UPI has added a billion transactions in two months, reaching the 11 billion mark amid the festive season, according to the RBI Bulletin.

State Bank of India, Bajaj Finance, Axis Bank, Bajaj Finserv, and HDFC Banks are the top losers on NSE Nifty 50 Index

BPCL, Asian Paints, Hero MotoCorp, Divis Labs, and HCL Technologies are the top gainers on NSE Nifty 50.

The NSE Nifty 50 dipped 0.46% to settle at 19,674.75, while the BSE Sensex slipped 0.29% to 65,788.79.

“Yesterday’s trading on Dalal Street painted a positive short-term outlook for Nifty, with bulls likely to drive further gains following a significant drop in inflation. Technical analysis indicates solid support for corrective declines around Nifty 19657, with a key milestone at 19889 for fresh upside. Positive catalysts include rising copper prices, a decline in WTI crude futures, easing US-China tensions, optimism about Fed rate hikes, strong FIIs net buying, a weakened US Dollar, lower US Treasury yields, and diplomatic efforts in the Middle East. Trade recommendations include buying Nifty at 19765 and Bank Nifty at 44161, with specific targets and stops. Bullish prospects are noted for SIEMENS, NTPC, ASHOK LEYLAND, ASIAN PAINTS, and L&T FINANCIAL.  HOMEFIRST FINANCE COMPANY is recommended as a buy with an entry price of 951, a target of 1201, and a stop loss at 821, holding for 0-365 days,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd

The NSE has added MCX India, Delta Corp, Hindustan Copper, Indiabulls Housing Finance, SAIL, and Zee Entertainment Enterprises to its F&O ban list for November 17, 2023.