Sensex jumps 224 pts on late buying, Nifty nears 18,200; SBI, Airtel shine

CLOSING BELL: The S&P BSE Sensex gained 732 points from the day's low, while the Nifty 50 jumped 218 points in intra-day trades, partly on account of short-covering owing to the monthly F&O expiry.

4:10 PM

NIFTY VIEW: Index may march to 18,400 in short-term if 18,200 crossed and sustained

The Nifty opened gap down & moved lower towards the level of 18000. The index witnessed base formation near the key psychological mark in the first half of the session & had a smart recovery in the second half.

Consequently, the index has formed a bullish outside bar & an Engulfing bull candle on the daily chart. On the way up, the index surpassed a falling trendline on the hourly chart & reached near the rising trendline, which was broken on the downside on Friday last week.

It has also tested the 40 DEMA on the upside. Thus the Nifty has halted near a very crucial area. If the index crosses the level of 18200 & sustains in the higher territory then it can march towards 18400 in the short term.

On the other hand, the level of 18000 will continue to provide cushion on the downside.

Views by Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas.

4:07 PM

CLOSING VIEW: Markets likely to continue seeing sharp swings amid Covid, recession fears

The domestic market trend was influenced by the movements of its global counterparts as a negative US closing pushed Indian bourses to a poor start.

However, positive signals from US futures lifted the benchmark index above the flatline. Markets will continue to witness such sudden movements, underpinned by lingering recession and Covid-19 fears, which will be countered by bargain hunters.

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

4:05 PM

Bharti Airtel rises 2%; reports say co plans to list Airtel Payments Bank

4:04 PM

Kanoria Chemicals zooms 20%; phenolic resin plant to start production from Jan 1

4:01 PM

Brand Concepts jumps 5%; co in pact with ABG to launch brand Aeropostale

Brand Concepts has entered into a long-term licensing contract with ABG (Authentic Brand Group) to launch travel & fashion accessories brand 'Aeropostale' in India.

3:56 PM

Medplus sheds 2% as 0.23% equity changes hands

3:54 PM

TRIL gains 3% on winning order worth Rs 123 crore

3:51 PM

Rupee ends at 82.81/$ vs Wednesday's close of 82.86/$

Photo: Bloomberg

3:48 PM

Mid-cap heatmap: Crisil, Max Health rise 3-5%; Shriram Fin, Page Ind top drags

3:46 PM

Mid-caps underperform benchmark but erase most losses for the day

3:44 PM

SECTORS: Banks, Metals bounce 1% each; FMCG, Pharma turn losers

3:42 PM

Bharti Airtel, SBI, Eicher Motors gain over 2% each; claim Nifty top gainers spot

3:40 PM

Apollo Hospitals, Divi's Labs additional index losers

3:38 PM

HEATMAP: Tata Motors, Titan top drags; Airtel, SBI lift Sensex

3:35 PM

CLOSING BELL: Nifty closes near 18,200; 33 stocks end higher

3:33 PM

CLOSING BELL: Sensex rebounds from day's low, ends with 224 pts gain

3:27 PM

Post pandemic pent-up demand surge, realty space may face global headwinds

A surge in post-pandemic pent-up demand helped India's property market overcome risks from rising interest rates this year but the dream run might face hurdles from global headwinds in 2023. Read here

3:18 PM

Chanda Kochhar, Deepak Kochhar, Dhoot sent to judicial custody till Jan 10

A special CBI court here sent former ICICI Bank CEO and MD Chanda Kochhar, her husband Deepak Kochhar and Videocon group founder Venugopal Dhoot to 14-day judicial custody. Read more

3:08 PM

Claims against Dr Reddy's Laboratories over Revlimid in US dismissed

Dr Reddy's Laboratories said all claims against it in the antitrust litigation filed in the US, related to a prescription medicine Revlimid, used in treatment of multiple  myeloma have been dismissed. READ MORE

 

3:00 PM

Oil plunges as China's Covid-19 spike dampens global demand outlook

Brent futures for February fell 79 cents, or 1.0%, to $82.47 a barrel by 0730 GMT, while U.S. crude fell 80 cents, or 1.0%, to $78.16 a barrel. READ MORE

2:52 PM

BS Special:: Do cryptocurrencies pose a threat to the Indian economy?

Our experts deep dive into the issue of cryptocurrencies following RBI governor's statement, to assess their market size and the risks they pose. WATCH VIDEO

2:41 PM

BSE 500:: Narayana Hrudayala, KEI Inds, Shriram Finance among volume shockers

Narayana Hrudayala has witnessed unusally high volume of around 1.30 lakh shares so far on the BSE as against its five-day average volume of around 11,500-odd shares. Similarly, KEI Industries, Shriram Finance, Page Industries and Jindal Stainless Hisar were among the other volume toppers on Thursday.

2:30 PM

BSE 500:: Brightcom, CRISIL soar up 12% from day's lows

Brightcom Group has zoomed 12 cent from its low of the day so far. Among others in the BSE 500, CRISIL, Jindal Stainless Hisar, KEC International and Finolex Industries have rallied 5 - 8 per cent each from their respective lows of the day.

2:19 PM

Income tax exemption might be extended to Rs 5 lakh in budget, say sources

The government is likely to enhance the income tax exemption limit to Rs 5 lakh from the existing Rs 2.5 lakh in the forthcoming budget for 2023-24, sources privy to developments said. READ MORE

 

2:09 PM

Firms could raise funds via public issues in 2023 as cash tightens: Bankers

Fundraising through public issues could see an uptick in 2023 as retail investors bet on attractive interest rates and companies look to diversify their funding portfolio under tightening liquidity conditions, bankers and analysts said. READ MORE

2:00 PM

BS Special: Why did 2022 set a new M&A record and how will 2023 pan out?

This year India Inc clinched its highest ever mergers and acquisitions, beating the previous record of 2021. What were the factors that led to this year’s stellar numbers? How will 2023 play out? WATCH VIDEO

1:50 PM

BSE 500:: Shriram Finance, Punjab & Sind Bank, Shree Cement among top losers

Shriram Finance down over 6 per cent was the top loser among the BSE 500 stocks. Punjab & Sind Bank, Shree Cement, Tube Investments and JK Cements, down 3 - 5 per cent each were the other prominent losers so far on Thursday.

1:40 PM

Arvind SmartSpaces hits new high in a weak market, rises 105% in 6 months

Shares of Arvind SmartSpaces (ASSL) gained 4.5 per cent to hit a new high of Rs 331.70 in Thursday’s intra-day trade, in an otherwise weak market. READ MORE

1:31 PM

SBI to consider raising funds via infrastructure bonds worth up to $1.21 bn

SBI, the country's largest lender, said it will consider approval for raising funds through the issue of infrastructure bonds worth up to 100 billion rupees ($1.21 billion) during fiscal year 2023. READ MORE

1:22 PM

Global Check:: Asian markets down; Nikkei, Hang Seng slip 1%

Source: Investing.com