Sensex rises for 2nd day, surges 1,223 pts; Nifty tops 16,300; RIL zooms 5%

CLOSING BELL: Ukrainian President Volodymyr Zelenskyy's reported statement that his country has cooled down on the question of a NATO membership calmed investor nerves

4:15 PM

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

The proximity to the lower band of the falling channel and the formation of a bullish Engulfing pattern has induced the rally in the benchmark Nifty. However, the Nifty has found resistance at the previous swing low. The momentum is positive with a bullish crossover in the daily RSI. Going ahead, a decisive move above 16400 may unlock the next level for Nifty. On the lower end, support is visible at 16200/16000. 

4:11 PM

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

Domestic indices carried forward yesterday’s gains following a clawback in European markets and US futures as smart investors saw value in the current market valuations. Dip buying is noticed in heavyweights, defensives like IT & Pharma, and value buying in Pvt banks. Oil prices continued to rise after the US banned Russian oil imports. The domestic market is also reacting positively to exit polls and in anticipation of in-line state election results. In the near term, the domestic market will trade as per the positive or negative surprise in the state election results and global trend.

4:09 PM

European markets bounce back in trade

4:05 PM

Dow futures jumps by over 400 points

4:02 PM

European stock futures trade higher ahead of ECB meet

3:58 PM

Metals sour market mood; Hindustan Copper, Hindustan Zinc lose shine

3:54 PM

Bulls take charge: Over 1,700 stocks advanced whereas 358 declined

3:51 PM

Brent crude eases off from multi-year highs to $125 a barrel

3:48 PM

Sugar stocks sweeten market sentiment; Dwarikesh Sugar soars above 16%

3:44 PM

Closing bell: Top 10 Nifty 50 performers; Asian Paints, Reliance, Bajaj Finance lead index

3:42 PM

Closing bell: Paint stocks see breather; Asian Paints rallies above 6%

3:40 PM

Closing bell: Broader markets steamy in trade; India Vix cools off below 3%

3:37 PM

Closing bell: Media, realty stocks in high demand while metals sulk

3:36 PM

Closing bell: Russia-Ukraine de-escalation pushes Nifty 50 above 16,300

3:34 PM

Closing bell: 26 out of 30 BSE Sensex stocks sizzle in green

3:32 PM

Closing bell: Wonderful Wednesday! Sensex powers up by over 1,300 points

3:28 PM

Closing cues: Thaw in Ukraine-Russia crisis lifts Nifty 50 above 16,350 levels

3:26 PM

Closing cues: Asian paints, Reliance, Bajaj Finance power up Sensex over 1,200 points

3:14 PM

Paint stocks colour green on hopes of Russia-Ukraine de-escalation

2:58 PM

Bajaj Electricals dips 5% in a firm market on growth concerns

Shares of Bajaj Electricals declined 5 per cent to Rs 1,051 on the BSE in Wednesday's intra-day trade, in an otherwise firm market, on growth concerns due to weak demand. READ MORE

2:50 PM

EXPERT VIEW :: Akhil Chaturvedi of Motilal Oswal AMC on AMFI data

Markets have been flat in last 1 and 3 months at headline level, despite we have seen domestic appetite for equities to be on rise. In current times of geo-political risks where markets have corrected sharply, yet the domestic investors have continued to add more allocation to equity. This is clearly change of attitude of investors towards this asset class and a definitely a positive change. At this stage, net domestic positive flows is supporting the massive outflows seen by FII’s on daily basis. A large part of the positive flows is also due to the strong SIP flow of Rs 11,000 crore monthly which continues to grow strongly.

2:50 PM

Hotel, Restaurant stocks rally on improved travel prospects with lifting of flight ban

 

2:39 PM

Russian FM Lavrov and his Ukrainian counterpart to meet in Turkey

Russian Foreign Minister Sergei Lavrov and his Ukrainian counterpart Dmytro Kuleba will meet in Turkey on Thursday. This will represent the first meeting between the two leaders since the Russian invasion of Ukraine began on February 24, the BBC reported. Read here

Sergei Lavrov | Photo: @mfa_russia

 

2:29 PM

Reliance steps up crude processing to supply diesel-starved Europe

Reliance Industries Ltd.’s Jamnagar facility is lifting crude processing and deferring planned maintenance to take advantage of surging demand for diesel, according to people with direct knowledge of the matter. It’s already sending shipments of the fuel to Europe, and this will increase in the coming months, said the people who asked not to be named as the information isn’t public. READ MORE

2:19 PM

Sensex climbs 1250 pts, Nifty tops 16,350 amid talks of Russia-Ukraine de-escalation

 

2:17 PM

Bulls charge: Sensex soars over 1,200 points; 3 factors fueling the rally

Markets gained ground on Wednesday as the Sensex surged over 1,200 points in intra-day trade to reclaim 54,600 levels. On the other hand, the Nifty 50 clawed back to 16,400 levels led by media, realty, and auto stocks. READ MORE HERE

2:07 PM

Bank stocks stage sharp recovery from day's lows; Nifty Bank up 1.6%

 

2:00 PM

Brent Crude price has risen around 93% in four months

1:47 PM

Analysts caution against betting on crude-dependent chemical stocks

The Russia-Ukraine crisis has sprung up worries for the sector yet again as analysts say margins of chemical companies will be impacted due to the rise in prices of crude oil. READ MORE

1:39 PM

Marico better placed than peers on costs amid commodity surge

The stock of the consumer major Marico has been an outperformer over the past month, shedding about 3 per cent as compared to its peer index BSE Fast Moving Consumer Goods (FMCG) which has lost twice as much. While all FMCG companies will be impacted by the rise in commodity costs, the impact on the owner of Parachute and Saffola is expected to be lower. READ COMPLETE ANALYSIS