Sensex sprints 545 pts, reclaims 58K; Nifty tops 17,300; TaMo up 7%, M&M 6%

CLOSING BELL: M&M (up 6 per cent) was the top Sensex gainer, followed by RIL, Maruti Suzuki, Bharti Airtel, Power Grid, Kotak Bank, Ultratech Cement, ITC, NTPC, SBI, Axis Bank, and Titan

4:02 PM

Tech View :: 17,000 is likely to act as crucial support

The uptrend continues in the market as the bulls' invasion of the 17,000-17,500 zone continues. The trend is likely to remain positive as long as the benchmark index sustains above 200-DMA, placed at 17,025.

Over the near term 17,000 is likely to act as crucial support; whereas on the higher end, 17,500 may act as crucial resistance. Again, above 17,500, the Nifty may move up towards 18,000

Views by: Rupak De, Senior Technical Analyst at LKP Securities

4:00 PM

Tech View: Nifty Bank is in overbought zone

The Bank Nifty continued its uptrend with higher top and higher low formations on the daily chart. The index RSI has now entered overbought territory and some profit booking scenarios cannot be ruled out from the current levels. The index immediate upside resistance stands at 38,000 and support at 37,000 level and might consolidate ahead of the RBI policy.

Views by: Kunal Shah, Senior Technical Analyst at LKP Securities.

3:59 PM

MARKET COMMENT :: 'FPIs turning net buyers is the major factor'

FPIs turning net buyers is the major factor driving the uptick in the domestic market. Record low unemployment rate in the Eurozone and fall in crude oil prices, increased optimism globally. Oil prices took a hit as the deteriorating demand outlook outweighed cues of ongoing supply tightness. Auto stocks were in focus post the release of positive auto sales numbers.

Views by: Vinod Nair, Head of Research at Geojit Financial Services.

3:58 PM

BSE Stats :: Advance to decline ratio stands at 2:1

3:55 PM

Currency check :: Rupee ends at 79.02/$ against Friday’s close of 79.25/$

3:55 PM

Bond markets :: 10-year bond yield falls 1% ahead of RBI policy outcome on Friday

3:54 PM

Kansai Nerolac surges 9% as Q1 PAT soars 1.5x sequentially

3:51 PM

Nazara Technologies hits 20% upper circuit on solid Q1 show

3:49 PM

RIL jumps 2.6% govt to revise windfall tax 'soon'

3:48 PM

Nifty Metal index soars as manufacturing activity picks up

>> India Maufacturing PMI for July came in at eight-month high of over 56

>> Ratnamani Metals, Adani Ent, APL Apollo rises between 3-5%

3:46 PM

Nifty PSBs surge as 10-year govt bond yields fall 1%

>> PNB, Bank of India, UCO Bank top gainers

3:44 PM

Nifty Auto zooms on healthy July auto sales; Tata Motors, M&M jump over 6% each

3:43 PM

Broader market :: BSE SmallCap index outruns benchmarks; Nazara Tech surges the most

3:42 PM

Broader market :: BSE MidCap index gains 1.5%; IDFC First, Kansai Nerolac top gainers

3:40 PM

Sensex Heatmap :: Only 6 stocks end in the red

3:40 PM

Sector check :: All indices except Pharma end with gains

3:36 PM

CLOSING BELL :: Benchmarks rally for 4th day

The S&P BSE Sensex jumped 545 points, or 0.95 per cent, to end at 58,116

The Nifty50 reclaimed the 17,300-mark to close at 17,340, up 182 points or 1 per cent.

3:26 PM

June Quarter Results :: Kansai Nerolac's consolidated profit at Rs 156 crore vs Rs 114 crore YoY

>> Revenue at Rs 2,051 crore

3:21 PM

July Sales Update | Maruti Suzuki India reports 8.28% rise in sales to 175,916 units in July

The company had sold a total of 1,62,462 units in the same month last year, Maruti Suzuki India Ltd (MSIL) said in a regulatory filing. Domestic passenger vehicle sales rose 6.82 per cent last month to 1,42,850 units compared to 1,33,732 units in July 2021. READ MORE

3:11 PM

ALERT :: Second revision on windfall tax gains will happen very soon, says Revenue Secy Tarun Bajaj

3:09 PM

ALERT :: BEL to consider bonus issue on August 4

3:06 PM

Alert: ICICI Bank raises rates by 15 bps

ICICI Bank has raised interest rates by 15 basis points ahead of the upcoming MPC meeting outcome on Friday. READ MORE

2:59 PM

BSE 500:: Stocks falling significantly from the highs of the day

Team Lease Services has shed 8 per cent from its high of the day so far. Similarly, Brightcom Group, Asahi India Glass, MCX India and Godfrey Phillips were some of the other prominent stocks to lose notable ground from the highs of the day so far on Monday.

2:50 PM

Market Check:: Top gainers this hour

Delta Corop has jumped 3.7 per cent in this hour of trades so far on the BSE. Similarly, Indian Hotels, Alkyl amines, Shree Renuka Sugar and Carborundum Universal were some of the notbale movers among the BSE 500 in this hour.

2:43 PM

Global Check:: US, UK stock futures mixed

Source: Investing.com

2:37 PM

Jet fuel price cut by steep 12%, commercial LPG rate reduced by Rs 36

Jet fuel (ATF) prices on Monday were cut by the steepest ever 12 per cent, the second reduction in as many weeks, on softening international oil prices amid recessionary fears. READ MORE

2:31 PM

Earnings Alert:: Punjjab & Sind Bank Q1 net up 17.8% YoY

Punjab & Sind Bank reported 17.8 per cent surge in Q1FY23 net at Rs 205 crore versus Rs 174 crore in Q1FY22. Net Interest Incomce grew 22.5 per cent to Rs 709 crore.

2:25 PM

BSE 500:: Volume Shockers

HDFC has witnessed unusually high volume of around 23.67 lakh shares so far on the BSE as against its five-day average volume of around 38,600-odd shares. Similarly, Divi's Lab, Adani Transmission, ICICI Bank and Mahindra Logistics too have witnessed a significant spike in volume in trades on Monday.

2:19 PM

BSE 500:: Top losers so far

Team Lease Services has shed nearly 7 per cent and was the top loser among the BSE 500 stocks so far. It was followed by MCX India, GMM Pfaudler, Star Heatlh Insurance and Asahi India Glass.

2:11 PM

SpiceJet flies 11% after airline asserts 'normal' flight operations

Shares of SpiceJet skyrocketed 11 per cent to Rs 42.5 per share on BSE in Monday's intra-day trade after the airline operator assured 'absolutely normal' flight operations. This comes after airline regulator Director General of Civil Aviation (DCGA) curtailed flight operations to only 50 per cent for eight weeks. READ MORE