Sensex up 515 pts, Nifty tops 17,650 on lower-than-expected US inflation

CLOSING BELL: Easing CPI figures reduced the probability of a 75-bps rate hike in the upcoming US FOMC meeting

4:04 PM

Expert view:: Markets cheer drop in US inflation, await domestic data

"As softer than expected US inflation data suggested a slower pace of rate hike, the global market encouraged optimism. US CPI inflation smoothened to 8.5 per cent in July as lower energy prices offset increase in food and shelter cost. Domestic investors await the release of India’s inflation data due today, which is expected to show a decline in inflation trend on a MoM basis."

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

 

4:03 PM

Key Earnings on Friday:: Apollo Tyres, Grasim, Hero MotoCorp, Wockhardt, Zee

Apollo Tyres, Bajaj Electricals, Bajaj Healthcare, Bharat Dynamics, BGR Energy, Coffee Day, Eros Media, Finolex Cables, Grasim, Hindustan Aeronautics, Hero MotoCorp, Hindustan Oil Exploration, Indiabulls Realestate, India Cements, IVRCL, Muthoot Finance, Power Finance Corporation, RCF, Reliance Communications, Texmaco Rail, Varroc Engineering and Wockhardt and Zee Entertainment are some of the notable companies to report June quarter earnings tomorrow.

3:55 PM

Tech view:: Rally may extend to 17,750 - 17,800

"The Nifty continued to remain above the consolidation on the daily chart, suggesting a continuation of the up trend in the market. On the higher end, however, Nifty had faced a bit of selling pressure that led to a close around the day's low. The current rally may extend towards 17,750-17,800, where crucial trendline resistance is placed. On the lower end, support is there at 17,450-17,500."

 

- Rupak De, Senior Technical Analyst at LKP Securities

3:53 PM

TCPL Packaging jumps 5% on strong Q1 results

Shares of TCPL Packaging hit a record high of Rs 1,191.55, and eventually ended 5.5 per cent higher at Rs 1,101 after the company reported robust earnings for the quarter ended June 2022 (Q1FY23). On a year-on-year (YoY) basis, the company’s standalone revenues grew 48.4 per cent to Rs 335.5 crore and cash profits improved 105.6 per cent to Rs 46.9 crore in Q1FY23. READ MORE

3:50 PM

Wonderla Holidays zooms 20%, hits 52-week high on robust Q1 results

Shares of Wonderla Holidays were locked at the 20 per cent upper circuit in trades on Thursday after the company reported robust earnings as profit after tax (PAT) grew to Rs 64.38 crore for the quarter ended June 2022 (Q1FY23) as against Rs 8.51 crore in the corresponding quarter of previous fiscal (Q4FY22).

3:48 PM

Eicher Motors hits new summit on strong Q1 show

The company's net profit soared 157.5 per cent YoY to Rs 610.66 crore in Q1FY23, while total income surged 64.4 per cent to Rs 3,446.12 crore.

3:46 PM

ICICI Bank hits new life-time high

Shares of ICICI Bank hit a record high at Rs 866.50 and eventually ended 1.3 per cent higher at Rs 859.80 on Thursday. The stock for the first time surpassed the Rs 6 trillion market cap in intra-day deals. READ MORE

3:43 PM

Outlook on Bank Nifty:: Next upside resistance is placed at 39,000

"The Bank Nifty index continued its strong up move on the back of positive global cues. The index surpassed the immediate hurdle of 38,400 which will now act as support on the downside. The upside resistance is placed at 39,000 and if breached on a closing basis will see further upside towards the 40,000 level. The index is trading in overbought territory and a profit booking scenario cannot be ruled out from the current levels."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities.

 

3:42 PM

Sectoral Performance:: Banking related indices shine; FMCG, Media whine

3:41 PM

Broader market gains in sync with Nifty50; India VIX dips 6.3%

3:38 PM

Sensex 30 Heatmap:: 21 Gainers v/s 9 Losers

3:37 PM

Top 5 Nifty50 Gainers & Losers

3:35 PM

Nifty50 moved 124pts higher to settle at 17,659

3:34 PM

Closing Bell:: S&P BSE Sensex ends 515pts higher

The S&P BSE Sensex gained 515 points to end at 59,333 on Thursday led by financial shares.

3:25 PM

BSE 500:: Volume Shockers

VIP Industries has witnessed unusually high volume of around 8.85 lakh shares so far on the BSE as against its five-day average volume of around 17,900-odd shares. Similarly, Greaves Cotton, Mazagon Dock, Uflex and Responsive Industries have also witnessed a significant spike in volume in trades on Thursday.

3:20 PM

ALERT :: Gasoline prices fall below $4 in the US

3:14 PM

'Worst likely over' for emerging Asian currencies as US Fed hike bets ease

Currencies across the region jumped Thursday, following their developing-nation peers in the Americas and Europe, after the US data published Wednesday led to a slump in the dollar. READ MORE

3:04 PM

Wonderla Holidays zooms 20%, hits 52-week high on robust Q1 results

Shares of Wonderla Holidays were locked in 20 per cent upper circuit at Rs 336.05 after it hit 52-week high on the BSE in Thursday’s trade. The surge comes after the company reported robust earnings as profit after tax (PAT) grew to Rs 64.38 crore for the quarter ended June 2022 (Q1FY23) as against Rs 8.51 crore in the corresponding quarter of previous fiscal (Q4FY22). READ MORE

2:57 PM

Banking shares log steady gains in trade on Thursday

Private sector majors, ICICI Bank and HDFC Bank alongwith state-run SBI held steady gains of around 1.5 per cent each in trades so far.

2:52 PM

Zomato targets breakeven by Q2 FY24, lowers investment guidance to $320 mn

Zomato is targetting to achieve the breakeven level in overall business between the fourth quarter of this fiscal and the second quarter of FY24 having cut losses gradually, according to company CFO. READ MORE 

2:43 PM

Global Check:: US, UK stock futures mostly unmoved

Source: Investing.com

2:36 PM

PolicyBazaar gains 5% as Q1 revenue soars over 100%

Shares of PB Fintech (PolicyBazaar) were up 4.8 per cent at Rs 587 after the company reported a 112 per cent surge in Q1FY23 revenue at Rs 505 crore versus Rs 238 crore in Q1FY22.

2:27 PM

ALERT: Trent reports Q1 turnaround, stock jumps 3.5%

Trent reported a net profit of Rs 102.62 crore for Q1Fy23 as against a net loss of Rs 83.75 crore in Q1FY22. Total income grew 4.5-fold to Rs 1,694.37 crore. 

2:17 PM

BSE 500:: Top losers so far

Natco Pharma and HLE Glascoat have shed around 5 per cent each and were the top losers among the BSE 500 stocks so far. They were followed by ITI, Privi Speciality and Abbott India.

2:08 PM

Sensex 30 Heatmap:: 17 gainers v/s 13 losers

2:01 PM

HDFC to issue nearly 1-year CP, stock up over 2%

Housing Development Finance Corp Ltd plans to raise funds through commercial papers maturing in nearly one year, three merchant bankers said on Thursday. READ MORE

1:52 PM

Jagdeep Dhankhar takes oath as 14th Vice-President of India

President Droupadi Murmu administered the oath of office of Vice President to him at Rashtrapati Bhavan in Delhi. The Vice President is also the ex-officio Chairman of the Rajya Sabha. READ MORE

1:46 PM

BSE 500:: Top gainers so far

Mazagon Dock has soared over 8 per cent and was the top gainer among the BSE 500 stocks so far on Thursday. Uflex, Indraprastha Gas, Asahi India Glass and Cummins India were some of the other major gainers, up over 6 per cent each.

1:38 PM

Market Check:: S&P BSE Sensex marginally off day's high, now up 450 points

1:33 PM

Tyre maker Balkrishna Industries FY23 volume, margin seen under pressure

Company's near term will be tough, but brokerages believe it will continue to gain market share. Read more