Sensex zooms 760 pts, Nifty tops 16,250; IT index up 3%, HDFC Bank dips 1%

CLOSING BELL: The frontline indices climbed on the back of gains in Infosys, ICICI Bank, Kotak Bank, TCS, Axis Bank, L&T, SBI, and Reliance Industries

4:00 PM

Nifty tech view: RSI indicator confirms strength in the index

The Nifty index witnessed a strong breakout on the daily chart and closed above the level of 16,200.

The RSI indicator has given a positive crossover on the daily chart, which confirms the strength in the index.

The index is likely to test the level of 16,600-16,800 level on the upside. The lower end support stands at 16,100-15,900 zone.
 

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

3:58 PM

Closing view: Bottom fishing lift IT, banks; Realty gains on strong prospects

Strong US retail sales data scaled down the worries of an aggressive rate hike higher than 75 bps providing the much-needed optimism to global equities.

The European Central Bank, in its meeting this week, is set to increase its interest rates for the 1st time to contain record high inflation.

On the domestic front, while IT and banking stocks were lifted by bottom fishing, realty stocks accumulated gains on improving business prospects.

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

3:56 PM

Rupee ends at fresh record closing low of 79.98/$

3:54 PM

Zydus Life drops 3.5%; co received FDA nod for Efinaconazole solution

 

3:52 PM

Jindal Stainless adds 5%; co says will provide 3,500 MT steel for Railway tunnel project

 

3:50 PM

Ahluwalia Contracts surges 5% on bagging Rs 140 crore order

 

3:48 PM

Rupa Co gains 3% as Abakus Fund ups stake in co by 1.05%

 

3:47 PM

SML Isuzu soars 7%; investor Sachin Bansal increased stake to 15.24% in Q1

 

 

3:43 PM

Nifty IT, PSBs surge 3% each; FMCG pack closes flat

 

3:41 PM

Gains spread across broader markets; Midcaps outshine

 

3:39 PM

Nifty losers: Dr Reddy's, Britannia, HDFC Bk slip 1-2%

 

3:37 PM

Nifty winners: Hindalco, IndusInd Bank, Infosys top lifters

 

3:36 PM

Sensex heatmap: Only 8 of 30 stocks close lower

 

3:34 PM

Closing Bell: Nifty surges 229 pts to near 16,300 at close

 

3:32 PM

Closing Bell: Sensex rises for 2nd day; closes at day's high with a 760 pt gain

 

3:23 PM

European markets climb firmly higher in early trade

 

3:12 PM

US markets heading to start new week on upbeat note

 

3:03 PM

Prestige Group sales bookings jump 4-fold on account of better demand

In the June quarter, the company launched four projects comprising 9.67 million square feet. Three projects totalling 0.78 million square feet were completed during the last quarter. READ MORE

2:56 PM

ALERT :: Rupee hits record low of 79.98 per $

Source: Bloomberg

2:48 PM

Did Buffett and Munger see the one wrinkle in BYD's stellar performance?

It sure seemed like odd timing: BYD has risen to the top of global electric vehicle maker rankings. It’s closing in on Tesla Inc. while forging a clear path ahead on batteries and, somehow, circumventing severe supply chain snarls. The firm has done all the right things. On Thursday, the Hong Kong-listed company said it expects preliminary net income in the first half to jump 207 per cent. READ MORE

2:37 PM

Textile shares rally; VTL, Himatsingka, Nitin Spinners surge up to 19%

Vardhman Textiles (VTL) surged 19 per cent to Rs 318.05 on the BSE on the back of over 10-fold jump in trading volumes. A combined 4 million equity shares have changed hands on the counter till the time of writing of this report, as compared to an average sub 40,000 shares that traded in the past two weeks on the NSE and BSE. READ MORE

2:29 PM

Frequent mid-air 'technical glitches' add to Spicejet's financial woes

Once an investor darling, SpiceJet is now the worst-performing airline stock in Asia, fighting a run of negative publicity triggered by a slew of seemingly innocuous but frequent technical glitches. The airline also hasn’t restored pilot salaries even after a surge in domestic demand and has delayed releasing quarterly results for the three months ended March citing a ransomware attack on its servers. It’s reportedly fallen behind on statutory dues, too. READ MORE

2:18 PM

Market Check:: IT, Metal, Capital Goods indices lead the rally

The BSE IT index has soared nearly 3 per cent. The Metal index has gained 2.3 per cent, and the Capital Goods index has vauled 2 per cent so far on Monday.

2:18 PM

ALERT :: HCL Tech signs multi-year deal for DSM's core IT business systems

2:11 PM

BSE 500:: Stocks recovering smartly from the lows of the day

Vardhman Textile has zoomed over 15 per cent from its low of the day so far. Similarly, Trident, Tanla Platforms, Welspun India and Amber Enterprises were some of the other significant movers from the lows of the day.

2:04 PM

BSE 500:: Volume Shockers

ICICI Bank has witnessed unusually high volume of around 7.62 million shares on the BSE as against its five-day average volume of around 1.22 lakh shares. Similarly, ICICI Lombard, SBI Life Insurance, Page Industries and Shree Cement have also witnessed a significant spike in volume in trades so far on Monday.

1:57 PM

HUL Q1 results preview: Muted volume growth likely due to demand slowdown

HUL Q1 results: Analysts say that the FMCG company's profit margins will continue to bear the brunt of high commodity prices, which were at peak highs for the most part of the quarter. READ MORE

1:49 PM

Global Market Update:: Dow Jones, S&P futures gain up to 0.8 per cent each

Soure: Investing.com

1:39 PM

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

ERIS Lifescience has declined over 6 per cent from its high of the day so far. Similarly, Minda Industries, Laurus Labs, Carborundum Universal and FDC were some of the other prominent stocks to lose notable ground from the highs of the day so far on Monday.

1:29 PM

Market Check:: S&P BSE Sensex hovers near highs of the day