Sensex rises 817 pts, Nifty near 16,600 as BJP set to win 4 states

CLOSING BELL: The markets, however, ended mildly off highs as European markets dropped up to 1 per cent in early deals as investors monitored the war in Ukraine and fluctuations in commodity prices

4:16 PM

Technical View: Rupak De, Senior Technical Analyst at LKP Securities

The benchmark index Nifty maintained an upside gap during the day, suggesting the presence of strength throughout the day. However, on the higher end, it found resistance at the upper band of the declining channel. Over the near term, the market may remain sideward as long as  Nifty remains below 16750. A decisive move above 16750 may induce a rally towards 17000 and higher. On the lower end, support is visible at 16400.
 

 

4:11 PM

Market view: Vinod Nair, Head of Research at Geojit Financial Services

Hopes of progress in high-level talks between Russia & Ukraine and a surge in the Asian market, the Indian market started with a strong gap-up. The outperformance was supported by positive state election results being in line with expectations. However, a weak western market ahead of ECB & US CPI data and rise in crude prices added volatility in between.

4:05 PM

European markets trade on a negative note

Source: investing.com

4:03 PM

Brent crude hovers around $117 a barrel

3:59 PM

Mixed trade for healthcare stocks; Fortis, Thyrocare sulk over 1%

3:58 PM

Closing bell: Over 1,400 stocks advanced while 626 declined

3:56 PM

Closing bell: Top 5 Nifty 50 losers; Coal India tanks over 3%

3:52 PM

Closing bell: Auto stocks in fast lane; Bajaj Auto, Tata Motors spurt over 2%

3:49 PM

Closing bell: Consumer stocks abuzz in trade; TTK Prestige soars above 11%

3:47 PM

Closing bell: Top 10 Nifty 50 performers; HUL, Tata Steel lead index

3:43 PM

Closing bell: SBI spikes over 3%, top performer in Nifty Bank

3:41 PM

Closing bell: Broader markets upbeat; India Vix cools off below 6%

3:37 PM

Closing bell: FMCG, banks, realty in high demand; Profit-booking seen in IT stocks

3:34 PM

Closing bell: 27 out of 30 Sensex stocks swim in green; HUL, Tata Steel drive index

3:33 PM

Closing bell: Sensex closes in green, up over by 800 points

3:31 PM

Closing bell: Nifty 50 closes below 16,600 levels

3:29 PM

Closing cues: FMCG stocks crunchy in trade

3:26 PM

Closing cues: Paint stocks extend upside after Brent cools off to $115 a barrel

3:24 PM

Closing cues: Chemical stocks abuzz; Tata chemicals, Deepak Nitrite up over 2%

3:19 PM

Closing cues: 3 of 30 Sensex stocks sit in red

3:08 PM

Nifty 50 reclaims 16,600 levels

2:59 PM

US equity futures trade on a negative note

2:49 PM

All sectoral indices trade in green; Banks, realty stocks in high demand

2:38 PM

BREAKING: Russia-Ukraine to discuss summit between Putin and Zelensky

2:29 PM

Oil partially reverses Wednesday's losses: Brent Crude up 5% at $117 a barrel

2:20 PM

Entertainment Network soars 14%, nears 52-week high on improved earnings

Shares of Entertainment Network (India) soared 14 per cent to Rs 214.75 on the BSE in Thursday's intra-day trade on the back of heavy volumes. The stock of the company, which operates India's FM radio channel Radio Mirchi, traded close to its 52-week high of Rs 226.95 hit on August 2, 2021. READ MORE HERE

2:14 PM

EXPERT VIEW : Markets to remain focused on the Russia-Ukraine issue

<< Indian market witnessed a strong recovery after a brutal fall thanks to some positive news flows on the Russia-Ukraine standoff that led rally in global equity markets and cool off in commodity prices.

<< The outcome of state election results is also acting as a tailwind for the Indian equity market, however, it has the impact of only one day and the main focus of the market will remain on the Russia-Ukraine issue because there are still uncertainties.

<< US inflation numbers will be announced today, which is likely to come at a five-decade high, and it will act as a critical factor in the upcoming US Fed meeting. Markets are likely to remain volatile till the Fed meeting.

<< Technically, Nifty witnessed a smart pullback from the 15,700 level, however, 16,800-17,000 is a critical supply area that Nifty has to take out for any trend reversal otherwise there is a risk of sell-off after this pullback. 

<< On the downside, 16,500-16,400 is an immediate support zone while 16,000/15,500 is the next critical support level. If Nifty manages to take out the 17,000 level then bulls will be back in the game where 17,300/17,500 are the next resistance levels.
 

<< Short-term traders should watch market behavior in the 16,800-17,000 zone then trade accordingly while long-term investors should continue to accumulate good quality stocks.

<< Our top preferred sectors are capital goods, infrastructure, real estate, and financials, however, rising commodity prices are a major challenge in the near term.

<< IT stocks may continue to do well after a recent correction while some private banks like HDFC Bank, Kotak Bank, and ICICI Bank are looking attractive after a recent fall.

Views by Santosh Meena, Head of Research, Swastika Investmart

1:58 PM

European markets open lower

Source: investing.com

1:55 PM

NEWS ALERT : Russia to no longer participate in the Council of Europe

1:49 PM

Nifty 50 off day's high, slips below 16,600 levels