Daily Market Reports From CapitalHeight

Daily Market Reports From CapitalHeight
Market commentary
In today’s session NIFTY traded in a range and closed above 10550 mark with flat note.
SENSEX ended the day at 35,141.99, on flat note, and NIFTYdown 6.20 points and close at 10,576.30,lower than the previous day.
PSU Banks and FMCG ended the day higher. Nifty Pharma dragged 2.19 percent, and today market was having mix trading session. Nifty Bank gained 161.55 points0.63 percent.
                                      Nifty 50 Index
Nifty 50 Index by CapitalHeight

Market Highlight
·       The Tata group is close to buying a controlling stake in Jet Airways, say news reports. If a deal fructifies, it will be a lifeline of sorts for Jet Airways promoter Naresh Goyal.

Employees of the beleaguered airline can now hope for a regular salary cheque by the end of the month. However, as far as the shareholders are concerned, the company has merely survived another crisis.

·       The Supreme Court Wednesday said a discussion on the pricing of Rafale fighter jets can only take place if the facts of the deal are allowed to come into the public domain.

The apex court, which began its hearing on pleas seeking a court-monitored probe into the procurement of 36 Rafale fighter jets from France, also said it was dealing with the requirements of the Air Force and would like to hear from an Air Force officer and "not the official of the Defence Ministry". "The decision we need to take is whether to bring the fact on pricing in public domain or not," a bench headed by Chief Justice Ranjan Gogoi said.

·       The National Highways Authority of India (NHAI) has extended the date to invite bids under second round of toll-operate-transfer (TOT) programme by a month till December 5 at the request of investors.
“This is a generic extension by a month at the behest of investors… They said they were yet to complete their due diligence before they could place bids,” the official said.

NHAI had given a time period of three months, ending November 5, to place bids for 586.55 kilometer of highway stretches. This is the second phase of highway monetisation programme by the Authority

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