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Indian shares snap four-session losing streak to end higher

By Munikoti Rochan

10:59, 23 November 2021

A stock market chart
Investors favoured metals, mining and banking stocks – Photo: Shutterstock

Indian shares ended a four-session losing streak to finish higher on Tuesday. The National Stock Exchange’s (NSE) Nifty50 index ended 0.50% higher at 17,503.35 points, while the S&P BSE Sensex closed 0.34% higher at 58,664.33 points.

  • The Nifty Metal index, a basket of 15 base metal and mining companies including commodities major Vedanta, advanced 3.3%
  • The Nifty Public Sector Undertakings (PSU) Bank index, comprised of 13 stocks including the Union Bank of India, rose 2.39%
  • The Nifty Media index, a basket of 15 broadcasters and theatre firms including Zee Entertainment Enterprises, climbed 2.32%
  • The Nifty Realty index, comprised of 10 residential and office space builders including IndiaBulls Real Estate, shot up 2.16%

The Indian rupee was trading 0.027% lower to the US dollar, to INR74.44 as of 16:53 hours local time (UTC+5:30).

The Nifty “is currently in a short term downtrend and traders are suggested to exit longs in all upside rallies,” said ThincRedBlu Securities’ chief executive Gaurav Udani. 

The index “has resistance in the 17,600-17,700 points range. A close above 17,850 points with higher than average volumes will be the bullish confirmation to initiate new longs,” Udani wrote in a 23 November note to clients, which was emailed to this news platform.

On the Nifty50

Shares of the Power Grid Corporation of India (PGCIL), JSW Steel and mining giant Coal India (CIL) were the top gainers, adding 4.02%, 4% and 3.95% respectively.


0.66 Price
-1.010% 1D Chg, %
Long position overnight fee -0.0074%
Short position overnight fee -0.0008%
Overnight fee time 22:00 (UTC)
Spread 0.00030


1.08 Price
-0.340% 1D Chg, %
Long position overnight fee -0.0080%
Short position overnight fee -0.0003%
Overnight fee time 22:00 (UTC)
Spread 0.00040


1.26 Price
-0.350% 1D Chg, %
Long position overnight fee -0.0046%
Short position overnight fee -0.0036%
Overnight fee time 22:00 (UTC)
Spread 0.00110


147.13 Price
-0.060% 1D Chg, %
Long position overnight fee 0.0112%
Short position overnight fee -0.0194%
Overnight fee time 22:00 (UTC)
Spread 0.030

But stock in decorative coatings firm Asian Paints, private sector lender IndusInd Bank and software giant Infosys were the top losers, shedding 2.6%, 2.57% and 1.81% respectively.

On the Sensex

PGCIL, the nation’s biggest electricity generator NTPC and Tata Group firm Tata Steel were the biggest gainers, adding 3.91%, 2.53% and 2.38% respectively.

IndusInd Bank, Asian Paints and Infosys were the biggest losers, shedding 2.59%, 2.35%, and 1.49% respectively.

Read more: TVS Motor to invest 1m on new tech and EVs

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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