Sensex rises 488 pts in relief rally; Nifty Realty up 6%; Tata Motors 13%

In the broader market, the BSE MidCap and SmallCap indices added 1.7 per cent and 1.4 per cent, respectively

3:48 PM

TECH VIEW :: Rohit Singre, Senior Technical Analyst at LKP Securities

Index opened a day with strong gap up but again took hurdle near previous swing high & witnessed small profit booking and closed a day at 17790 with gains of nearly one percent. Going forwards immediate & strong hurdle is coming near 17850-17930 zone any rise near mentioned resistance zone will be profit booking opportunity & fresh breakout will be above 17950 zone, supports for nifty is coming near 17730-17650 zone also any dip near said levels can be used as a fresh buying opportunity.

3:48 PM

CLOSING COMMENTS :: Vinod Nair, Head Of Research at Geojit Financial Services

Domestic market clawed its way out to a gap up opening following strong global sentiments, as US debt default worries calmed along with easing bond yields and crude oil prices. The domestic market was pushed by strong buying in auto, realty & IT sectors which bolstered the market to sustain the trend in favour of the bulls. Despite the global semiconductor shortage, auto stocks sparked a rally in hopes of demand revival during the festive season while the expectation of better Q2 numbers for IT and strong pre-sale numbers helped the realty sector.

3:47 PM

Sobha soars 16% on reporting best ever sales volume in September quarter

3:47 PM

Titan rallies 11% post Sept quarter business update

>> The company reported a strong 78 per cent year on year (YoY) revenue growth in July-September quarter (Q2FY22). 

3:44 PM

Tata Motors rallies 13% on expectation of strong business outlook.

>> The brokerage firm Morgan Stanley has upgraded Tata Motors with an overweight rating from equal-weight and raised target price to Rs 448 from Rs 298 earlier.

>> The stock hit fresh 52-week high earlier in trade

3:42 PM

TCS gains over 2% ahead of Q2 results on Friday

>> Most brokerages are pencilling in double-digit growth in net profit and revenue for TCS in Q2FY22, led by improvement in demand from BFSI, healthcare and retail, acceleration in digital technologies and ramp-up of deals along with recovery from the India market.

3:38 PM

SECTOR WATCH :: Realty & Auto sectors steal the show

>> All sectors end in the green on NSE

3:37 PM

BSE MIDCAP index jumps 1.68%; Page Industries top performer

>> The index touched a new high of 25,842.22 in trade today

3:36 PM

BSE SMALLCAP index gains 1.4%, outperforms benchmark Sensex

>> The index hit an all-time high in trade earlier

3:35 PM

Sensex Heatmap | Top gainers & losers at close

>> TOP GAINERS: Titan, M&M, Maruti

>> TOP LOSERS: DRL, HDFC, Bajaj Finserv

3:34 PM

CLOSING BELL :: Nifty50 settles near 17,800

3:33 PM

CLOSING BELL :: Sensex rises after one-day hiatus, up 488 points

>> The index has gained in three of last four trading sessions

3:21 PM

What sparked a rally in realty shares?

S&P BSE Realty up by 5.83% today and up by 30% in the last one month. Today Sobha Limited up by 15.7% on the back of the announcement of best ever pre-sales volumes for the Q2FY21 along with Macrotech Developers Limited (Lodha) reported very strong pre-sales. We have seen very strong demand after the covid first wave and even it got continued after the 2nd wave of covid also, we are heading towards the festival season and we are expecting this pre-sales momentum to continue as home loan interest are at its decades lows. We have a buy rating on Sobha Limited and a Neutral rating on Godrej Properties.  

-- Yash Gupta, Equity Research Analyst, Angel One

 

3:20 PM

BPCL Privatisation: SEBI unlikely to exempt open offers for Petronet, IGL

Bharat Petroleum Corporation Ltd (BPCL) holds 12.5 per cent of the shareholding in India's largest liquefied natural gas importer, Petronet, and a 22.5 per cent stake in city gas retailer, IGL. It is a promoter of both the listed companies and holds board positions. READ MORE

3:10 PM

NEWS ALERT :: JMC Projects JV submits a notice for termination

>> JMC Projects JV submits a notice for termination to NHAI for a project in Haryana after forceful closure of toll collection due to the Farmers Protest

>> The event of forceful suspension of toll collection / user fee due to farmer's agitation / protest amounts to Force Majeure Event of Concession Agreement. 

Find details here

3:04 PM

NEWS ALERT :: Rakesh Gangwal drags IndiGo to Delhi HC in arbitral dispute

>> Plea yet to be taken up by Delhi HC

>> In September, London Court of International Arbitration gave the final award in the feud between Rahul Bhatia, Rakesh Gangwal

Source: TV reports

3:01 PM

ICICI Bank, Titan, TCS major Sensex movers in trade so far

ICICI Bank, Titan and TCS a day ahead of its Q2 results are the major contributors to the Sensex 30 in trade so far on the BSE. Infosys, Reliance Industries and Mahindra & Mahindra followed the top three.

2:53 PM

Mahindra XUV 700 gets 25,000 bookings in 57 minutes, equaling 6-mth output

The Mahindra XUV700 has clocked 25,000 bookings in 57 minutes of its booking commencement on Thursday, said Mahindra and Mahindra, terming it as an “unprecedented milestone in the Indian automotive industry.” The volume of 25,000 units of the recently launched model is equivalent to up to six months of production depending on the variant. It also makes the XUV700 the first four-wheeler in India to hit this milestone, the company claimed. READ MORE

2:43 PM

MARKET STAT :: Advance-decline ratio favours gainers

>> The market breadth was positive in late afternoon session, with two stocks rising for every one that fell. 

2:41 PM

Global markets :: Dow Jones Futures gain 150 pts

2:31 PM

Paras Defence extends rally post strong debut; zooms 246% over issue price

Shares of Paras Defence and Space Technologies (PDSTL) continued their upward movement as they hit 5 per cent for the fourth straight day on Thursday. The shares hit a high of Rs 606.10 on the BSE today, building on gains logged on debut day (October 1, 2021). Till 02:01 pm, a combined 140,996 equity share had changed hands and there were pending buy orders for 950,000 shares on the NSE and BSE. READ MORE

 

2:13 PM

Corporate Update :: Piramal Enterprises approves Demerger proposal

2:12 PM

ALERT :: Piramal Enterprises to create two separate listed entities in financial services & pharma

>> PEL to be a listed diversified NBFC

>> Shareholders of PEL will get four shares of PPL for every one share held in PEL

2:10 PM

BS Special :: Does India have a case for the upgrade it seeks from rating agencies?

India, which currently has the lowest investment grade, has sought an upgrade from rating agencies. While Moody's Investors Service has obliged by upgrading the outlook on sovereign ratings to stable from positive, it retained the sovereign ratings.

 

As such Moody's action has fallen short of India's expectations.  READ MORE

2:01 PM

This smallcap IT company's stock has surged 118% in 18 days; here's why

Currently, Brightcom Group is trading under the T group on the BSE. In the T2T segment, each trade has to result in delivery and no intra-day netting of positions is allowed. Till 01:31 pm, a combined 1.03 million equity shares had changed hands on the counter and there were pending buy orders for 2.16 million shares on the NSE and BSE, the data shows. READ MORE

1:46 PM

European markets start trade on a positive note

Almost all, key European markets were up a per cent each mirroring the positive trade sentiment across the globe. On Wednesday, Russia assured to boost supplies to Europe and do what it takes to stabilize the energy markets. European countries are one of the largest importer of Oil & Gas.

1:39 PM

Zee vs Invesco :: NCLAT reserves the order, likely to pass later today

Zee to NCLAT: NCLT thought allowing us 36 hrs to file a reply was adequate to meet ends of justice. This is a gross violation of principle of natural justice. Section 98 has been misread, no timetable on the tribunal to decide the issue.

Source: TV reports

1:33 PM

ALERT :: Bombay HC dismisses writ petition filed by SREI Group

1:28 PM

Paytm in talks with sovereign wealth funds, BlackRock for IPO stakes

State-backed wealth investors Abu Dhabi Investment Authority and Singapore’s GIC Pte are among those weighing bidding to participate in the IPO, the people said, asking not to be identified as the information is private.

 

Global financial firms such as BlackRock Inc. and Nomura Holdings Inc. are also in discussions to bid, the people said. One97 Communications Ltd., as Paytm is formally known, is considering seeking a valuation of around $20 billion to $22 billion based on initial investor feedback, they said. READ MORE

1:18 PM

Titan, Kalyan Jewellers, Goldiam and more: Here's what the charts have to foretell

Titan has set the tone for the festive season by announcing 78 per cent y-o-y jump in Q2FY22 revenue, going ahead the gold sales are expected to rise as per reports. Here's how the prominent gold-related stocks look on the charts. READ MORE