Indices snap 2-day losing run, Sensex ends 359 pts up; Bajaj twins lead

All that happened in the markets today

4:29 PM

Market Analysis | Ajit Mishra, VP - Research, Religare Broking

Markets made a smart comeback after yesterday's slide and gained over half a percent. After the initial uptick, the benchmark gradually inched higher as the day progressed and settled around the day’s high. Among the benchmark indices, Nifty ended at 15,738 levels, up by 0.7%. On the sector front, all the other indices, barring auto, ended in positive wherein healthcare, metals and realty were among the top gainers. The broader indices also witnessed sharp recovery and edged higher in the range of 1.3-1.7%.

 

Markets are keenly eyeing the domestic developments viz. unlocking by states and progress of vaccination programs for cues. Going ahead, we feel the update on the monsoon will also be closely watched by the participants.  Major global indices are currently seeing consolidation which may continue to trigger volatility in our markets too. Amid all this, we reiterate our bullish view and suggest using dips or further consolidation to accumulate quality stocks.

4:05 PM

TECH VIEW | Ashis Biswas, Head of Technical Research at CapitalVia Global Research

The market witnessed some lackluster movement in the market and an attempt to hold the support level around the Nifty 50 index level of 15650. Trading above 15650 is positive from a short-term perspective. Sustaining above 15650 levels, we expect the market to gain momentum, leading to an upside projection of 15900 levels. The momentum indicators like RSI, MACD start showing signs of recovery after the sharp fall the Nifty 50 Index had witnessed yesterday. There is no divergence signal, alerting any potential deep correction.

4:03 PM

MARKET QUOTE :: S Ranganathan, Head of Research at LKP Securities

Bulls looked charged up today on weekly expiry and it was indeed heartening to see confidence personified as the broader markets saw selective buying across sectors in stocks which looked optically reasonable compared to its expensive larger peers. While the Bajaj Twins provided the fire power to the Index, the Small & Midcaps put up a stellar show yet again despite apprehensions on higher valuations in select segments.

4:02 PM

MARKET VIEW | Vinod Nair, head of Research at Geojit Financial Services

Ahead of US inflation data and European Central Bank policy meeting outcome, Indian equities reflected its Asian counterparts to trade on a positive note. With faster vaccine coverage and off-loading of fiscal measures, the economic impact of covid second wave will most likely be restricted to Q1FY22, as per the monthly report of the Department of Economic Affairs. Gains in the market were broad-based with all major sectors except auto. 

3:58 PM

Nifty Media index climbs 5%, all constituents end in the green

3:55 PM

Easy Trip planners soars 10%, hits new high

3:54 PM

BSE Smallcap index jumps 1.73%

>> Here are the top gainers & losers from the BSE Smallcap pack

3:53 PM

BSE Midcap index adds 1.26%, ends near record high

3:48 PM

Sector Roundup :: Barring Auto, all indices on NSE end in the green

3:47 PM

TCS AGM :: N CHANDRASEKARAN SAYS

> Co has navigated pandemic successfully, earned tremendous goodwill of customers
 

> Co well positioned to benefit from multi-year tech cycle
 

> TCS continuously reinvented in new services & offerings required for future

3:42 PM

Top gainers & losers in the Nifty50 pack

3:41 PM

Bajaj Finance, SBI, Infosys lead Sensex contributors

3:35 PM

Sensex heatmap at close

>> Bajaj twins top gainers

>> Bajaj Auto, Maruti end in the red

3:34 PM

CLOSING BELL | Sensex snaps 2-day losing run, adds 359 points; Nifty tops 15,700

The domestic benchmark indices snapped their two-session losing run to end nearly 1 per cent higher on Thursday, led by gains in financials, Infosys and index heavyweight RIL. The BSE Sensex settled 359 points up at 52,300 while the NSE Nifty shut shop at 15,738, up 102 points.

3:23 PM

Crypto outlook: JPMorgan sees signal of coming bear market in Bitcoin

Bitcoin’s recent bounce has yet to dispel doubts about its vulnerability. The cryptocurrency has jumped 10% over two days and was trading at $36,993 as of 9 a.m. in London on Thursday. While the momentum may cheer bulls, a JPMorgan Chase & Co. team said backwardation in the futures market -- where the spot price is above futures prices -- is a reason for caution. READ MORE

3:09 PM

Asian shares advance as investors await United States inflation data

Asian shares are higher after Wall Street logged modest losses, as investors await key U.S. inflation data. Benchmarks rose across the region, but stayed in a relatively narrow range. Investors will get closely watched U.S. inflation data on Thursday. The focus is on how it might impact ultra-low interest rates and other market-supporting policies. READ MORE

2:58 PM

BUZZING STOCK:: Indiabulls Housing Finance surges 10%

2:47 PM

SECTOR WATCH:: Sugar stocks extend rally

COMPANY NAME	LATEST	HIGH	LOW	CHG(%)
Sh.Renuka Sugar	22.80	22.80	22.80	4.83
Bajaj Hindusthan	14.91	14.91	14.50	5.00
KM Sugar Mills	33.55	33.55	31.60	10.00
Dwarikesh Sugar	72.70	75.00	70.20	5.59

2:35 PM

MARKET UPDATE:: Bajaj twins, RIL contribute the most to Sensex's gain today

2:27 PM

Ion Exchange zooms 33% in 2 days on Rs 1,000 cr orders win; MF stake buy

Shares of Ion Exchange (India) rallied 10 per cent in intra-day trade to hit a new high of Rs 2,248.60 on the BSE on Thursday, after the company said it received orders worth Rs 1,000 crore. In past two trading days, the stock has rallied 33 per cent after Franklin Templeton Mutual Fund acquired nearly one per cent stake in the company via open market. READ MORE

2:19 PM

Reliance says FCCU unit at Jamnagar refinery shut, exports may be delayed

India's private refiner Reliance Industry said on Wednesday a secondary unit at its export-focussed refinery in the western state of Gujarat has been shut since June 6, which may delay the shipment of some product cargoes. The refinery, which has the capacity to process 704,000 barrels of crude per day (bpd), is part of the world's biggest refining complex in the city of Jamnagar in Gujarat state. READ MORE

2:10 PM

NEWS ALERT :: Ion Exchange bags two projects worth Rs 1,000 crore

>> The company has received Letter of Award and Contract from State Water Supply and Sanitation Mission, Namami Gange and Rural Water Supply Department under Jal Jeevan Mission for two EPC projects, for survey, design, preparation of Detailed Project Report (DPR), supply, construction and commissioning of water treatment plant and O&M for 10 years for rural drinking water supply to 1000 villages in two districts of Uttar Pradesh i.e. Varanasi and Aligarh.

 

The value of these two projects is expected to be approximately Rs 1,000 crore, specific value will be determined after approval of DPR. The project is to be constructed and commissioned within 21 months from the date of

signing of the contract.

2:10 PM

BUZZING STOCK:: Bajaj Finance extends gain, crosses 6k-mark

1:59 PM

European markets check

(Source: Reuters)

1:54 PM

Unlock trade is the buzz on the Street: A cautious approach is advisable

Speculators have started betting on unlock trades in stocks beaten down in the second wave. Businesses such as IndiGo (Interglobe Aviation), Indian Hotels, PVR, and MakeMyTrip (MMT is Nasdaq listed) have delivered poor results in Q4FY21, which were in line with expectations. They will also have a poor Q1FY22. But the shares have held firm or gone up. Analysts have also given buy calls. The anticipation is a strong rebound through the next nine months of FY22 as the economy unlocks. READ MORE

1:40 PM

Accelya rebounds 16% from day's low on receiving strong response for OFS

Shares of Accelya Solutions India hit a 52-week high of Rs 1,184.90 as they rallied 8 per cent on the BSE in intra-day trade on Wednesday, bouncing back 16 per cent from the day’s low of Rs 1,020 on receiving a good response from non-retail investors for the offer for sale (OFS). At 01:22 pm, the stock was up 7 per cent at Rs 1,167, as compared to a 0.65 per cent rise in the S&P BSE Sensex. READ MORE

1:27 PM

Mid-market view | Gaurav Garg, Head of Research at CapitalVia Global Research

In morning trades, Indian equities indexes remained in the green, owing to positive cues from their Asian counterparts. The Department of Economic Affairs (DEA) stated in its monthly report that the economic impact of the second wave COVID-19 will most likely be limited to the first quarter of 2022. Sentiments remain positive as faster vaccine coverage and frontloading of fiscal measures outlined in this year's budget, according to the Finance Ministry, will be important factors in improving the investment and consumption cycles and, as a result, restoring the economy. 

 

The Market has been positive in the first half and has taken support near 15,600. Technical factors are aligned to support the positive movement in the market and reach the levels of 15,870-15,900. 15,500 will be a key support level in the short term. 

1:22 PM

Top contributors to Sensex's 300-point gain :: RIL, Bajaj Finance

1:09 PM

Results Impact:: Cera Sanitaryware hits 52-week high post Q4 numbers

> Net profit up 23.1% YoY at Rs 45.8 crore

 

> Revenue up 47.2% YoY at Rs 438.4 crore

 

> EBITDA up 66% YoY at Rs 70 crore

 

> Firm plans to undertake capex of Rs 25 crore

1:08 PM

Stocks that hit 52-week high on BSE today

Company	PRICE(rs)	52 WK HIGH	CHG(%)
Astral	1974.00	1990.00	1.52
Balkrishna Inds	2277.35	2313.30	1.24
Century Textiles	575.50	582.95	4.06
Cera Sanitary.	4643.25	4663.75	2.29
Cipla	972.75	975.00	1.49