Sensex jumps 379 pts, Nifty tops 17,800; auto stocks in fast lane, PSBs dip

CLOSING BELL: Maruti Suzuki, M&M, Asian Paints, HUL, Ultratech Cement, Tech M, and HDFC twins were the top gainers on the Sensex index

4:03 PM

Expert view: Better than expected CPI numbers may limit the pace of rate hikes

"The easing of inflationary pressures has encouraged domestic investors to remain optimistic about the pace of economic recovery. Better-than-expected CPI numbers, aided by slower increase in food and fuel prices, may limit the pace of rate hikes by the RBI. In the Asian market, the Chinese central bank surprised the market by cutting its interest rates after a weak set of economic data. Following that, oil prices slumped on demand worries"

 

- Vinod Nair, Head of Research at Geojit Financial Services

4:02 PM

Nifty tech view: Support for the NSE benchmark seen at 17,700

"The Nifty has given a falling trend line breakout on the daily chart suggesting a rise in optimism. The momentum oscillator RSI is in the overbought zone; however, no bearish crossover is visible in the indicator. The trend is likely to remain positive as long as it remains above the falling trendline. The profit booking in the market may come once Nifty falls below the trend line. Support on the lower end is visible at 17,700. On the higher end, resistance is seen at 18,000."

 

- Rupak De, Senior Technical Analyst at LKP Securities

3:59 PM

Shares of Rakesh Jhunjhunwala portfolio exhibited mixed trend; Titan recovers intra-day

The decision to stay with these stocks, analysts said, should be based purely on how each of these companies is performing fundamentally. READ MORE

3:57 PM

Forbes & Co zooms on special dividend cheer

The company has fixed Thursday, August 25, 2022 as the 'Record Date' for the purpose of ascertaining the shareholders who shall be eligible for receipt of special interim dividend worth Rs 65 per share. READ MORE

3:54 PM

Navkar Corporation plunged 16.5% on heavy volumes

Shares of Navkar Corporation tumbled 16.5 per cent to Rs 70.80 on the NSE after the board approved transfer of business undertaking, Inland Container Depot (ICD) 'Tumb' situated Vapi at Gujarat, as a going concern, on an 'as is where is' basis for a lumpsum consideration of approximately Rs 835 crore to Adani Logistics. READ MORE

3:52 PM

DFM Foods hits 20% upper circuit on promoter's delisting proposal

Shares of DFM Foods were locked at the 20 per cent upper circuit at Rs 302.85 on the NSE after the promoter’s proposed to delist equity shares of the company from the stock exchanges. READ MORE

3:50 PM

Bank Nifty view: Some indecisiveness seen at current levels

"The Bank Nifty index formed a Doji candle on the daily chart which indicates indecisiveness at the current level. The index after a stupendous rally is showing signs of exhaustion however a profit booking scenario will be confirmed only on a close below 38,700 level. The index if it surpasses the level of 39,500 on a closing basis will see extension of the rally towards 40,000-41,000 levels."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities 

 

3:48 PM

Max Healthcare zooms nearly 12 on heavy volumes

According to reports, American private equity major KKR and Co was to sell up to 26.83 per cent in Max Healthcare Institute for Rs 9,416 crore via block deals on Tuesday. READ MORE

3:46 PM

HDFC AMC surges 11.7% after nearly 6% equity change hands on BSE

At 09:55 am, around 11.96 million equity shares representing 5.61 per cent of total equity of HDFC AMC had changed hands on the BSE, the exchange data shows. The names of the buyers and sellers were not ascertained immediately. The stock finally ended 11.7 per cent higher at Rs 2,185. READ MORE

3:43 PM

Sectorally, Nifty Auto index gains the most, up 2.5%

3:41 PM

Broader markets led my Midcps outshine Nifty 50

3:39 PM

Expert view on CPI Inflation

"The important takeaway from the CPI July print is that the trend of declining inflation is sustaining. CPI inflation has declined from 7.79 per cent in April to 7.04 per cent in May to 7.01 per cent in June to 6.71 per cent in July. The stubborn core inflation also has declined from 6 per cent in June to 5.8 per cent in July. Inflation is likely to decline again since the good monsoon (104 per cent of the normal) augurs well for food production and will have a benign effect on food prices. However, the RBI will have to remain hawkish for some more time since inflation will remain elevated till December this year. IIP at 12.3 per cent for June indicates that the growth momentum in the economy continues."

 

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

3:39 PM

Nifty 50:: Top FIVE gainers and losers on Tuesday

3:37 PM

Sensex 30 Heatmap:: Maruti, M&M, Asian Paints top gainers; only 4 losers

3:36 PM

NSE Nifty 50 index gains 127 points to close at 17,825

3:34 PM

Closing Bell:: S&P BSE Sensex ends 379 points higher at 59,842

3:23 PM

BSE 500:: Volume Shockers

Max Healthcare has witnessed unusually high volume of around 26.49 lakh shares so far on the BSE as against its five-day average volume of around 43,800 odd shares. Similarly, HDFC AMC, Equitas Small Finance Bank, UTI AMC and Honeywell Auto also witnessed a significant spike in volume on Tuesday.

3:15 PM

Global oil prices to fall to $70/barrel by end of 2024: Moody's Analytics

Pointing out the increase in oil prices to $120/barrel in June after Russia's invasion of Ukraine and its fall to $100/barrel in August Moody's Analytic said: "This trend will continue; we expect crude prices to fall to almost $70 a barrel by the end of next year." READ MORE

3:08 PM

BSE Auto index surges 39% from March lows on robust growth momentum

Shares of automobile companies including auto ancillaries and tyre firms continued their northward movement with the S&P BSE Auto index rising over 2 per cent and hitting a fresh record high of 30,329.42 points in Tuesday’s intra-day trade. READ MORE

3:00 PM

Prices of Amul's Gold, Shakti, Taaza milk brands increased by Rs 2/ litre

The Gujarat Cooperative Milk Marketing Federation, which markets its dairy products under the Amul brand, on Tuesday increased the prices of its Gold, Taaza and Shakti milk brands by Rs 2 per litre. READ MORE

2:52 PM

Global Check:: US, UK stock futures exhibit mixed trend

Source: Investing.com

2:43 PM

USFDA approves Aurobindo Pharma owned Eugia's generic Vasopressin injection

Aurobindo Pharma Ltd on Tuesday said its wholly-owned arm Eugia Pharma Specialties Ltd has received final approval from the US health regulator for its generic version of Vasopressin injection. READ MORE

2:36 PM

Major Auto shares up prominently in trade so far; Maruti soars 3.5%

Maruti and Eicher Motors were the top gainers among the auto shares on Tuesday so far, up 3.5 per cent each. Tata Motors, Mahindra & Mahindra, Bajaj Auto and Hero MotoCorp were the other major gainers.

2:29 PM

Oil extends losses as weak demand outlook lingers global recession fear

Brent crude futures fell $1.21, or 1.3%, to $93.89 a barrel by 0635 GMT. WTI crude futures dipped 84 cents, or 0.9%, to $88.57 a barrel. READ MORE

2:21 PM

Sensex 30 Heatmap:: Auto, HDFC twins shine; Airtel, SBI slip

2:14 PM

NSE phone tapping: ED gets High Court notice on ex-Mumbai cop's bail plea

Hearing the matter, Justice Jasmeet Singh also issued a notice to the Central Bureau of Investigation (CBI) in a separate petition moved by Pandey seeking quashing of FIRs against him in offences of cheating, criminal breach of trust by a public servant, and cheating under the Indian Penal Code (IPC), under various provisions of the Information Technology Act, Indian Telegraph Act, and Prevention of Corruption Act. READ MORE

2:05 PM

Equity AUM of mutual funds rises more than 10% month-on-month in July

After declining for 2 consecutive months, equity assets under management of domestic mutual funds rose 10.3% month-on-month to Rs 15.2 lakh crore in July as market rebounded after 3 months of decline. READ MORE

1:56 PM

ALERT :: Amul to hike milk prices by Rs 2/ltr w.e.f August 17

1:56 PM

Asian Markets Update:: Most barring Hang Seng hold marginal gains

Source: Yahoo Finance

1:47 PM

BSE 500:: Top losers so far

Muthoot Finance has tumbled over 12 per cent and was the top loser among the BSE 500 stocks so far. It was followed by TCNS Clothing, Aster DM Heathcare, Minda Corp and Manappuram Finance.