Sensex up 415 pts, ends above 60K; Nifty tops 17,700; IT, auto stocks rally

CLOSING BELL: Tata Motors, NTPC, Power Grid, Infosys, Bajaj Finserv, Asian Paints, RIL, ITC, HDFC, Wipro, TCS, Axis Bank, HUL, and HCL Tech were the top Sensex gainers today

4:20 PM

Nifty: Fall below 17,650 may trigger steep correction

"Nifty pared early gains as the benchmark index failed to surpass resistance at 17,800. On the daily chart, the Nifty closed within the falling channel following an intraday breakout from the said channel. On the daily chart, a shooting star kind of candlestick pattern has formed, suggesting a bearish reversal. A fall below 17,650 may trigger a steep correction in the market. While a sustained trade above 17,750 may induce buying in the market."

 

- Rupak De, Senior Technical Analyst at LKP Securities
 

4:12 PM

Bank Nifty:: Likely to trade in 41,000 - 42,000 range in the near term

"The BANK NIFTY index witnessed some selling pressure from higher levels but the broader trend remains bullish and one should keep a buy-on-dip approach. The index lower-end support stands at 41,000 where the highest open interest is built up on the put side and the upside resistance is at 42,000. The index is likely to trade in this range for the next couple of trading sessions."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities

4:09 PM

Global markets fully pricing in Fed hike to 5.5%; Indian equities at risk: UBS

India, according to them, is among the more sensitive markets to US rates, and demonstrates the most sensitivity to local rates given higher influence of domestic flows into the market. READ MORE

4:08 PM

Power Grid Corp, NTPC gain 3% each to hit their respective 3-month highs

Power Grid has been declared a successful bidder to establish inter-state transmission system for two projects on build, own operate and transfer (BOOT) basis, in Chhattisgarh. READ MORE

4:06 PM

5 Nifty 500 stocks to accumulate if market breadth continues to improve

Half of the Nifty 500 stocks are presently trading over their 200-day moving average (DMA), reflecting a move to regain the lost ground. Over the last couple of months, especially since mid-January this year, the broader market has been through choppy trades. READ MORE

4:05 PM

Stock of this company hits over 3-decade high; zooms 55% in one month

Finolex Cables has rallied 10 per cent to Rs 847.60, and trades at its highest level since March 1992, surpassing its record high of Rs 875, touched on March 24, 1992. READ MORE

4:04 PM

MF inflow in equities crosses Rs 1.5-trn for second straight fiscal

Thus far in FY23, MFs have pumped in a net Rs 1.53 trillion in equities till March 1, 2023, Securities and Exchange Board of India (Sebi) data show, as compared to Rs 1.72 trillion in FY22. READ MORE

4:02 PM

ONGC, Oil India gain 3%; hit over 8-month highs

In past one month, Oil India has rallied 23%, while, ONGC surged 11%, as compared to 0.33 per cent decline in the S&P BSE Sensex. READ MORE

4:01 PM

Mahanagar Gas surges 9%, hits 52-week high on acquisition of Unison Enviro

This acquisition will enable MGL to expand to newer geographical areas in Maharashtra (Ratnagiri, Latur & Osmanabad) and Karnataka (Chitradurga & Davanagere), thereby, providing new avenues. READ MORE

3:59 PM

Home construction: Analysts bet on pipe makers; wary on tile, paint segment

Despite expectations of a pick-up in construction activity during the seasonally strong January-March quarter (Q4), analysts are cautiously optimistic on the building material sector – encompassing paints, pipes, wood panels, tiles, metals, and cement – as volatile input costs, coupled with fears of a global slowdown, is making demand projections uncertain. READ MORE

3:57 PM

Wonderla scales record high; Imagicaaworld at 52-wk peak, up 44% in 3 days

The companies said business continues to show an excellent rebound after two years of adverse Covid-19 impact and an overall improvement in the health of operations. READ MORE

3:54 PM

Market rebound: Short-covering, or is the worst behind us now?

The weekly F&O data also highlights significant build-up in open interest at the 17,700 Put, suggesting likely support at this level. READ MORE

3:51 PM

Market Breadth fairly positive; 270 stocks hit upper limits

3:49 PM

BSE Smallcap Heatmap:: Asian Energy, Aptus Value Housing hit 20% upper circuit

3:46 PM

BSE Midcap Heatmap:: JSW Energy, Patanjali, Adani Power rally up to 11%

3:44 PM

Nifty Oil & Gas index top sectoral mover, up 2%

3:43 PM

Broader indices outperform the benchmark Nifty 50

3:41 PM

Nifty 50 Losers:: Britannia, Tata Steel, JSW Steel decline 1-2%

3:40 PM

Nifty 50 Gainers:: Adani Enterprises gains 5.5%; Energy shares shine

3:38 PM

Sensex 30 Heatmap:: 25 Gainers v/s 5 Loser

3:36 PM

CLOSING BELL:: NSE Nifty50 gains 117 points at 17,711

3:34 PM

CLOSING BELL:: S&P BSE Sensex ends 415 points higher at 60,224

3:22 PM

Indian retail industry to reach $2 trn by 2032: Reliance's Subramaniam V

The Indian retail market is one of the fastest growing in the world and is expected to reach $2 trillion by 2032, according to Reliance Retail Director Subramaniam V. READ MORE

3:11 PM

Rebuilding of Turkey post quake may spur steel demand from India: Industry

Rebuilding and reconstruction of Turkey in the aftermath of a devastating earthquake is expected to pull in steel demand, throwing up opportunities for steelmakers globally including India, in more ways than one. READ MORE

3:00 PM

More sugar exports possible if domestic output reaches as estimated: Govt

Sugar availability is comfortable in the country even as the total sugar production is pegged lower at 33.6 mn tonnes in the ongoing 2022-23 marketing year (Oct-Sept), a food ministry official said. READ

2:54 PM

European markets edge up with nominal gains

2:44 PM

ONGC, Oil India gain 3%; hit over 8-month highs

Shares of upstream oil companies, Oil & Natural Gas Corporation (ONGC) and Oil India hit over eight-month high, as they gained 3 per cent each in Monday’s intra-day trades on expectations of better profitability due to sustained higher crude oil prices and gas realizations. Oil prices reached $86/bbl driven by optimism around demand from top oil importer China. READ

2:33 PM

Improving outlook, upgrades to keep wheels turning for auto companies

Improving demand, falling raw material costs, and rising product realisations, led by the premiumisation of portfolios, have led to a revision of growth estimates and upgrades by domestic brokerages. READ MORE

2:22 PM

Global markets fully pricing in Fed hike to 5.5%; Indian equities at risk: UBS

India, according to them, is among the more sensitive markets to US rates, and demonstrates the most sensitivity to local rates given higher influence of domestic flows into the market. READ MORE

2:10 PM

Stage set for the second round of auction for Reliance Capital's assets

The second auction will be held with Rs 9,000 crore as minimum upfront cash amount for the bidders to put on the table. READ MORE