Sensex ends 958 pts up at 59,885, Nifty tops 17,800; Realty index gains 9%

Stock market LIVE: Sectorally, all indices were trading positively, led by Nifty Realty

4:14 PM

Markets will correct, perhaps soon, cautions VK Vijaykumar

This ferocious bull market continues to baffle both bears and bulls. Stock markets are all about ups and downs. But this bull market has been an almost one-way street for almost 18 months now. More importantly, this is almost a global phenomenon with China, Hong Kong and a few other countries being the exceptions. The mother market US is leading from the front, ignoring even tapering indications from the Fed. All previous bull markets in  India - 1992-92, 1994, 1998-2000, 2003-07 - had big corrections of 5%, 10%, even 20%. But not now so far. But this will change and the market will correct, perhaps soon, since valuations are hard to justify.

 

Amateurish money of retail investors is now dominating over the smart money of institutional investors. This may change when FIIs turn into major sellers. We don't know now when and what might trigger that. Taking some money off the table may not be a bad idea even while riding this bull.

-- Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

4:13 PM

View :: Anything negative news on Evergrande front could impact global sentiments

Nifty closed at another record high after a great day when it just kept rising hour by hour without any major corrections. Advance Decline ratio is sharply positive, though lower than that in the morning. Nifty is marching towards 18000 mark slowly and steadily, unless some global event (like Evergrande) upsets this momentum. Evergrande is due to pay $83.5 million worth of interest on a dollar-denominated bond on Thursday. It's not clear yet whether the company will make that payment, and it had not commented by the close of trading in Hong Kong. Anything negative on this front could impact global sentiments.

-- Deepak Jasani, Head of Retail Research, HDFC Securities

4:12 PM

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

Index witnessed a decisive breakout and closed a day at 17823 with good gains of one & a half percent forming a bullish candle on the daily chart. The index has witnessed a range breakout which hints if current levels are held then we may witness next quick move towards 18k mark, immediate supports for Nifty is shifted to 17770-17700 zone any dip near mentioned supports zone will be again buying opportunity with keeping immediate stop out level below 17700 zone and if said levels are held we may see the index to march towards 17900-18000 zone which is immediate hurdle zone on the higher side.

4:11 PM

MARKET QUOTE :: Devang Mehta, Head – Equity Advisory, Centrum Broking

The market took the US Fed statement of starting tapering as soon as November in its stride. Encouraging news on Evergrande crisis also helped to clear some uncertainty on the global front. Indian markets have been on a roll & the rally today was symbolic of the prevailing strong sentiment locally on the back of reduction in covid cases & the strong vaccination numbers. With improvement in economic activity & the optimism around the capex cycle revival, the earnings trajectory for India Inc will naturally get a big boost. Most of the companies which are market leaders in their respective domains have seen operating efficiencies & productivity improve & also been able to reduce debt with prominent gain in market share as well. Liquidity remains extremely strong, be it Foreign portfolio investors, Local mutual funds, Insurance companies, Family offices, HNI’s or even the retail investors.

4:09 PM

What drove D-Street to record highs today?

Amidst a strong start, bulls showed no signs of weakness to soar higher boosted by strong global cues and broad-based buying led by realty, metal and banking stocks. Global markets tempered optimism despite a slightly hawkish tilt by the Fed Reserve intimating that the US Central Bank will begin reducing its asset purchases in November and conclude the tapering process around mid-2022. However, investors continue to remain on the edge awaiting clarity on the Chinese economy. The domestic reality sector continued its rally sparked by demand revival in the property space.

-- Vinod Nair, Head of Research at Geojit Financial Services

4:06 PM

IPO CHECK :: Paras Defense subscribed over 300 times

>> HNI quota subscribed the most at 927 times

4:04 PM

JBF Industries ends at 5% upper circuit amid RIL takeover buzz

4:02 PM

Bajaj Finserv hits new high in intra-day deals, crosses Rs 18,000 for first time

>> The company's market cap neared Rs 3 trillion mark

4:01 PM

ZEEL erases gains, slips 5% on profit taking

3:56 PM

JBM Auto surges 13% on bagging order for 500 buses

>> Company has received orders for supply of 500 (five hundred) CNG/ Electric Buses as follows:

1. BS VI CNG Buses for Delhi Integrated Multi-Modal Transit System Limited (DIMTS);

2. Electric Buses for Bengaluru Metropolitan Transport Corporation (BMTC);

3. Electric Buses for Jhansi - Smart City, Uttar Pradesh; and

4. Electric Buses for multiple corporate clients

3:55 PM

GLOBAL NEWS ALERT

>> China asks local govt to prepare for downfall of Evergrande: Reports

>> Local developers may be asked to take over Evergrande projects
 

>> US futures & European markets pare gains

3:51 PM

Market breadth in favours of buyers

3:47 PM

Profit booking drags NIFTY MEDIA lower on Thursday

>> The index had jumped over 13 per cent on Wednesday

3:45 PM

NIFTY REALTY surges over 8% amid strong demand outlook

>> All constituents from the Nifty Realty index end higher

3:40 PM

Sector Watch :: Barring Media, all sectors end in the green on NSE

>> Nifty Realty lead sectoral gainer, up nearly 9%

3:39 PM

BSE SMALLCAP gains 0.9%, underperforms Sensex

3:37 PM

BSE MIDCAP index jumps 1.28%; index hit new high

3:35 PM

Sensex Heatmap | Top gainers & losers at close

>> TOP GAINERS: Bajaj Finserv, HDFC, L&T

>> TOP LOSERS: DRL, Nestle, ITC

3:32 PM

CLOSING BELL :: Sensex, Nifty end at a high! Broader markets too gain

>> The record breaking bull run on Dalal Street continued on Thursday, with benchmark indices clinching fresh record highs. The BSE Sensex jumped 958 points to close at 59,885, just 100 points shy of 60,000 milestone. Meanwhile, the NSE Nifty settled the day at 17,823, up 276 points. Sensex touched an all-time high of 59,957 in intra-day deals and Nifty of 17,844. The broader markets gained largely in line with the benchmarks. The BSE Midcap gained 1.28 per cent and Smallcap 0.91 per cent. 

3:29 PM

Tata Motors DVR hits over 3-yr high; gains 12% on the back of heavy volumes

Shares of Tata Motors DVR hit an over three-year high of Rs 172 after they surged 12 per cent on the BSE in the intra-day trade on Thursday, on the back of heavy volumes. The stock surpassed its previous high of Rs 169.75, touched on June 15, 2021 and was trading at its highest level since June 2018. READ MORE

 

3:27 PM

Infosys reclaims $100 billion market cap

3:22 PM

Sector Watch :: BSE FMCG index trades in the red in a firm market

3:09 PM

ALERT :: Sensex just 100-pts shy of 60,000-mark

2:59 PM

Sensex jumps 900 pts! Here're the top gainers and losers on the index

2:50 PM

JBF Ind hits 5% upper circuit for 2nd straight day on RIL takeover buzz

Shares of JBF Industries were locked in the 5 per cent upper circuit for the second straight day at Rs 26.30 on the BSE in Thursday's session on reports that Reliance Industries (RIL) looks set to take over the company with CFM Asset Reconstruction Company (ARC). The stock of the polyester manufacturer has gained 15 per cent in the past three days. It hit a 52-week high of Rs 50.20 on July 6, 2021. READ MORE

2:42 PM

Market Update :: Nifty above 17,800 level

2:38 PM

DLF m-cap hits Rs 1-trillion mark

2:27 PM

Sensex surges 800 points, hits new high: 3 factors behind the rally

The US Federal Reserve's comment that it may start tapering as soon as November failed to perturb the benchmark indices on Thursday, suggesting a strong bullish undercurrent. Further, receding concerns on Evengrande crisis also supported the sentiment. Amid this backdrop, the BSE barometer Sensex surged over 800 points to hit a new high of 59,765 in intra-day deals, with private lenders and Reliance Industries as top gainers. Meanwhile, the NSE's flagship index Nifty50 hovered within the kissing distance of an all-time high level at 17,785, up nearly 250 points. READ MORE

 

2:22 PM

IPO Update :: Paras Defence IPO subscribed over 231 times on final day

2:08 PM

Affle receives US Patent Grant, significantly strengthening its global tech IP portfolio

>> This patent is related to the technology of driving app installations and user interactions during podcasts