(Reuters) -A Reliance Industries joint venture will invest $11 billion over five years to ​develop 1 gigawatt of AI data capacity in the ‌southern Indian state of Andhra Pradesh, the companies and the state's ‌government said on Wednesday. Canadian multinational company Brookfield Corporation and U.S.-based real estate investment trust Digital Realty are the other partners involved in the joint venture, called Digital Connexion. ⁠ ‌ The project aims to establish an AI-native data centre campus across 400 ...

Core Insights - The article provides intraday trading recommendations for Nifty Futures and major stocks, including specific entry and stop-loss levels based on technical analysis [1] Company Summaries - **HDFC Bank**: Support levels at ₹990 and ₹985; resistance levels at ₹1010 and ₹1025. Recommendation to go short only below ₹990 with a stop-loss at ₹992 [3] - **Infosys**: Support levels at ₹1540 and ₹1520; resistance levels at ₹1560 and ₹1585. Recommendation to go short only below ₹1540 with a stop-loss at ₹1545 [3] - **ITC**: Support levels at ₹402 and ₹399; resistance levels at ₹407 and ₹410. Recommendation to take fresh shorts below ₹402 with a stop-loss at ₹403 [3] - **ONGC**: Support levels at ₹243 and ₹240; resistance levels at ₹248 and ₹250. Recommendation to go short on a rise at ₹247 with a stop-loss at ₹248 [3] - **Reliance Industries**: Support levels at ₹1530 and ₹1515; resistance levels at ₹1555 and ₹1590. Recommendation to go short only below ₹1530 with a stop-loss at ₹1535 [3] - **State Bank of India (SBI)**: Support levels at ₹964 and ₹960; resistance levels at ₹978 and ₹986. Recommendation to go long on dips at ₹965 with a stop-loss at ₹963 [3] - **Tata Consultancy Services (TCS)**: Support levels at ₹3125 and ₹3085; resistance levels at ₹3155 and ₹3185. Recommendation to go short on a break below ₹3125 with a stop-loss at ₹3135 [3] - **Nifty 50 Futures**: Support levels at ₹25900 and ₹25800; resistance levels at ₹26040 and ₹26180. Recommendation to go short on a rise at ₹25990 and ₹26020 with a stop-loss at ₹26090 [3]

Market Performance - Stock markets closed lower for the third consecutive session, with the benchmark Sensex dropping nearly 314 points due to selling in IT and auto shares as foreign fund outflows dampened investor sentiment [1] - The 30-share BSE Sensex fell by 313.70 points or 0.37 percent to settle at 84,587.01, with 24 constituents closing lower and six gaining [3] - The 50-share NSE Nifty declined 74.70 points or 0.29 percent to 25,884.80, having dropped 307 points or over 1 percent in three sessions since Friday [4] Sector Performance - Major laggards among Sensex stocks included Tata Motors Passenger Vehicles, Trent, Infosys, Power Grid, HDFC Bank, HCL Tech, Kotak Mahindra Bank, ICICI Bank, and Bajaj Finance [4] - Gainers included Bharat Electronics, State Bank of India, Tata Steel, Eternal, Bharti Airtel, and Reliance Industries [6] Institutional Activity - Foreign institutional investors (FIIs) offloaded equities worth Rs 4,171.75 crore on Monday, while domestic institutional investors (DIIs) bought stocks worth Rs 4,512.87 crore in the previous trade [6] - The domestic market experienced sharp volatility driven by a weakening INR and continued FII outflows [6] Investor Sentiment - Caution prevailed as investors awaited clarity on a possible rate cut in the upcoming FOMC meeting and progress on the Indo-US trade deal, despite some improving signals [7] Global Market Context - In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index, and Hong Kong's Hang Seng index settled in positive territory [8] - Brent crude, the global oil benchmark, dipped 0.69 percent to $62.93 per barrel [8]

Market Overview - The S&P BSE Sensex dropped 314 points, or 0.37%, closing at 84,587, while the NSE Nifty 50 declined 75 points, or 0.30%, settling at 25,884 [1][14] - The domestic market experienced sharp volatility on the monthly expiry day, influenced by a weakening Indian Rupee (INR) and continued Foreign Institutional Investor (FII) outflows [5][14] Sector Performance - In the 30-share Sensex pack, only a few stocks like BEL, SBI, Tata Steel, and Reliance Industries ended in the green, while others, including Trent and Tata Motors, saw significant declines [2][14] - Sectorally, Nifty IT, Auto, FMCG, and Oil & Gas were the top drags, with declines up to 0.6% on November 25, particularly affected were Infosys, TCS, HCL Tech, and Wipro [2][14] Technical Analysis - The 20-day EMA zone of 25,850–25,800 is expected to act as crucial support for the Nifty Index, with a sustained move below 25,800 potentially driving it towards 25,600 [6][14] - For Bank Nifty, the support zone is identified at 58,600–58,500, with a potential drop towards 58,000 if it moves below 58,500, while a breakout above 59,200-59,300 could lead to an upward trend [7][14] Currency and Global Market Impact - The Indian Rupee ended flat at 89.22 per dollar against the previous day's close [8][14] - Global stocks saw an increase as Federal Reserve officials indicated potential interest rate cuts in December, leading to a rotation into technology shares [9][14] - MSCI's All-World Index rose for the third consecutive session, reflecting a broader improvement in market sentiment [10][14] Commodity Market - Brent crude futures slipped 0.8% to $62.88 per barrel due to concerns over rising global oil supply potentially outpacing demand next year [11][14] - Gold prices eased 0.6% to $4,115 an ounce but remained on track for nearly a 3% gain for November [10][14]

Market Overview - U.S. stock futures are showing positive momentum as markets begin a shortened Thanksgiving trading week, driven by optimism surrounding potential interest rate cuts by the Federal Reserve [1][9] - The S&P 500 futures are up approximately 0.6% to 0.7%, Nasdaq 100 futures are leading gains with an increase of about 0.9% to 0.99%, and Dow Jones Industrial Average futures are rising between 0.3% and 0.4% [2] Recent Performance - Last week, U.S. equities had a mixed finish, with the S&P 500 advancing 0.98%, Nasdaq 100 adding 0.77%, and Dow Jones rising 1.08% on Friday, but all major indexes are on track to close November in negative territory [3] - The S&P 500 is down approximately 3.5% for the month, Nasdaq has fallen over 6%, and Dow is nearly 3% lower, influenced by concerns over a potential bubble in the AI sector [3] Upcoming Economic Data - Key economic reports to be released include October's retail sales figures, expected to rise by 0.4%, and the Producer Price Index (PPI), anticipated to show a 0.3% monthly increase and a 2.7% yearly rise [5] - Other indicators to watch include durable goods orders, expected to increase by 0.2%, and various housing and manufacturing surveys [5] Earnings Releases - Notable companies reporting earnings this week include Corporacion America Airports SA, BioLineRx Ltd., and LexinFintech Holdings Ltd. before market open on Monday, with Zoom Communications Inc. and MongoDB Inc. reporting after market close [6] - Major companies scheduled for earnings on Tuesday include Alibaba Group Holding Ltd., Dell Technologies, Zscaler Inc., Nio Inc., and Best Buy Co. Inc., which will provide insights into consumer spending and technology demand [7] Corporate News - Alibaba Group Holding Ltd. saw its stock jump in premarket trading after its Qwen AI app garnered over 10 million downloads following its relaunch, indicating ongoing investor interest in the AI sector [11] - Harmony Gold Mining Company Limited announced the approval of its Final Investment Decision for the Eva Copper Project in Queensland, Australia, expected to enhance long-term production and cash flow [12] - DHL Supply Chain plans to invest EUR 130 million in a new warehouse in Saudi Arabia, aimed at enhancing global supply chain resilience [12] Market Sentiment - The expectation of a Federal Reserve interest rate cut is a significant driver of current market sentiment, with traders pricing in a greater than 60% chance of a 25-basis-point rate reduction in December [9] - This shift in expectations is providing a tailwind for equities, as lower interest rates typically make borrowing cheaper and boost corporate profits [9]

The BSE benchmark rose 669.14 points, or 0.79 per cent, during the week.Reliance, Airtel top weekly gainsThe market valuation of Reliance Industries increased by Rs 36,673 crore to Rs 20,92,052.61 crore, while Bharti Airtel’s mcap jumped Rs 36,579.01 crore to Rs 12,33,279.85 crore.Tata Consultancy Services added Rs 16,299.49 crore to reach Rs 11,39,715.66 crore, while Infosys gained Rs 17,490.03 crore, taking its valuation to Rs 6,41,688.83 crore.HDFC Bank’s mcap rose by Rs 14,608.22 crore to Rs 15,35,132.5 ...

Core Insights - The combined market valuation of seven of the top-10 most valued firms increased by ₹1,28,281.52 crore last week, driven by a positive trend in equities [1] - Reliance Industries and Bharti Airtel were the biggest gainers in market valuation [1] Group 1: Gainers - Reliance Industries' market valuation rose by ₹36,673 crore, reaching ₹20,92,052.61 crore [2] - Bharti Airtel's valuation surged by ₹36,579.01 crore to ₹12,33,279.85 crore [2] - Infosys saw an increase of ₹17,490.03 crore, bringing its valuation to ₹6,41,688.83 crore [3] - Tata Consultancy Services (TCS) experienced a rally of ₹16,299.49 crore, with a market cap of ₹11,39,715.66 crore [3] - HDFC Bank's market cap grew by ₹14,608.22 crore to ₹15,35,132.56 crore [3] - State Bank of India rose by ₹4,846.08 crore to ₹8,97,769.87 crore [3] - Hindustan Unilever's market cap advanced by ₹1,785.69 crore to ₹5,71,972.75 crore [3] Group 2: Losers - Bajaj Finance's market valuation decreased by ₹8,244.79 crore, resulting in a total of ₹6,25,328.59 crore [3] - Life Insurance Corporation of India's (LIC) market cap tumbled by ₹4,522.38 crore to ₹5,70,578.04 crore [4] - ICICI Bank's market cap declined by ₹1,248.08 crore to ₹9,79,126.35 crore [4] Group 3: Market Overview - The BSE benchmark index increased by 669.14 points or 0.79% last week [1] - Reliance Industries remains the most valued domestic firm, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever, and LIC [4]

Market Performance - The BSE Sensex increased by 446.21 points or 0.52% to close at 85,632.68, reaching a 52-week high of 85,801.70 during the day [3][4] - The NSE Nifty also achieved a 52-week high of 26,246.65 before closing at 26,192.15, reflecting a gain of 139.50 points or 0.54% [3][4] Influencing Factors - The rally in global markets contributed to the rise in Indian indices, with optimism surrounding India's trade talks and progress on phase-1 agreements enhancing market sentiment [4] - Strong performance in sectors such as Auto, Financials, and IT, along with fresh foreign institutional investor (FII) inflows, supported the positive trend [5] Institutional Activity - Foreign institutional investors purchased equities worth ₹1,580.72 crore in the previous trading session [6] - Domestic institutional investors also bought stocks valued at ₹1,360.27 crore [7] Sector Performance - Major gainers among Sensex firms included Bajaj Finance, Bajaj Finserv, Reliance Industries, HDFC Bank, Tech Mahindra, and Axis Bank [4] - Conversely, Asian Paints, HCL Tech, Titan, and Hindustan Unilever were among the laggards [4] Commodity Prices - Brent crude oil prices rose by 0.83% to $64.03 per barrel [7]

Market Performance - Equity benchmark indices Sensex and Nifty were trading higher, with Sensex reaching a 52-week high of 85,470.96 and Nifty hitting 26,136, also a 52-week peak [1] - The Sensex increased by 513.45 points or 0.61% to settle at 85,186.47, while Nifty climbed 142.60 points or 0.55% to 26,052.65 [5] Sector and Stock Movement - Gainers among Sensex firms included Adani Ports, Reliance Industries, Tata Motors Passenger Vehicles, Axis Bank, Mahindra & Mahindra, and Power Grid [2] - Lagging stocks included HCL Tech, Tech Mahindra, ICICI Bank, and Maruti [2] Global Market Influence - U.S. markets ended positively, with significant gains in technology shares following Nvidia's strong earnings guidance, which boosted optimism in AI and semiconductor sectors [4] - Asian markets also showed positive trends, with South Korea's Kospi and Japan's Nikkei 225 index trading over 3% higher [2] Foreign Investment Activity - Foreign institutional investors (FIIs) purchased equities worth ₹1,580.72 crore, while domestic institutional investors (DIIs) bought stocks worth ₹1,360.27 crore [5]

Core Viewpoint - Reliance Industries has purchased 1 million barrels of crude oil from Kuwait as Indian refiners reduce purchases from Russia due to U.S. sanctions on Russian oil producers [1][3]. Group 1: Purchase Details - Reliance Industries acquired the crude through a tender from Kuwait Petroleum Corporation (KPC), which sought buyers for 500,000 barrels of Kuwait Heavy and 500,000 barrels of Eocene crude [2]. - The cargoes are scheduled for loading between December 6 and 9 [2]. Group 2: Market Context - Following U.S. sanctions on major Russian oil firms, Reliance has shifted its focus to Middle Eastern crude, purchasing millions of barrels from the region [3][5]. - Reliance operates the world's largest refinery complex at Jamnagar, with a processing capacity of 1.4 million barrels per day [4]. Group 3: Compliance and Strategy - Reliance has a long-term agreement with Rosneft to buy nearly 500,000 barrels per day but is unlikely to continue imports from sanctioned entities to avoid secondary U.S. sanctions [5]. - Most Indian refiners have ceased orders for Russian crude for December, indicating a significant shift in sourcing strategies due to geopolitical pressures [6].