The Indian stock market witnessed a decline of over 1% on November 28, 2024, with major indices Sensex and Nifty weighed down by underperformance in IT stocks. However, the day saw notable movements in various stocks, spanning gains and losses.

Top Gainers

1. NBCC India (CMP: ₹98 | Up 5%)

   • The stock rallied after the company secured two orders worth ₹919 crore.
   • Key projects include a ₹600 crore order for developing a 10-acre institutional plot in Noida and upgrading school hostels in Odisha.

2. Ola Electric (CMP: ₹92 | Up 6%)

   • The fifth consecutive session of gains followed the launch of its affordable S1 Z and Gig electric scooters starting at ₹39,000.

3. Paytm (CMP: ₹934 | Up 2%)

   • UBS upgraded the target price to ₹1,000, citing valuation improvements and projected EBITDA breakeven by Q4FY25.

4. Honasa Consumer (CMP: ₹251 | Up 10%)

   • Heavy trading volumes pushed the stock to its upper circuit as 31 lakh shares exchanged hands, well above the one-month average.

5. Emami Realty (Up 5%)

   • Shares hit the upper circuit after the company announced a ₹10,000 crore investment plan for real estate expansion.

6. Vedanta (Up 2%)

   • Shares gained after Moody’s upgraded the company’s corporate family ratings, boosting investor confidence.

7. Adani Group Stocks (Up to 15%)

   • A second-day rally, led by Adani Total Gas, added ₹1.2 lakh crore to the group's market capitalization. This comes after clarifications refuting corruption allegations under the FCPA.

8. NTPC Green Energy (CMP: ₹127 | Up 4%)

   • Gains extended after its successful IPO and announcement of commissioning part of the 105 MW Shajapur Solar Project.

Top Losers

1. IT Stocks (Nifty IT Index Down 2%)

   • US inflation data raised concerns about the pace of future rate cuts, negatively impacting IT companies reliant on the US market.

2. Amber Enterprises (CMP: ₹5,990 | Down 6%)

   • Declined after Goldman Sachs downgraded the stock to 'Neutral' despite raising the target price to ₹6,300.

Other Notable Movements

1. LIC (CMP: ₹942 | Up 2%)

   • Reports of LIC's potential 50% stake acquisition in ManipalCigna Health Insurance sparked positive sentiment.

2. Ujjivan Small Finance Bank (CMP: ₹36 | Up 2%)

   • The board approved the sale of non-performing assets worth ₹270 crore to an asset reconstruction company.

Market Outlook

The decline in indices highlights cautious sentiment following global macroeconomic data. However, selective stocks demonstrated resilience through strong fundamentals and announcements, presenting opportunities for investors to align portfolios with emerging trends.

The Upcoming IPOs in this week and coming weeks are Ganesh Infraworld, Suraksha Diagnostic, Property Share REIT, Rosmerta Digital, Avanse Financial and Nisus Finance.
The Current active IPO is Agarwal Toughened, Apex Ecotech, Abha Power and Steel and Rajputana Biodiesel.

For more insights into financial trends , visit our Top News Headlines. You can also explore investment opportunities in the market and apply for upcoming IPOs through our Best IPO to Apply Now section.