Global markets, metals lift Sensex 361 pts higher; Nifty ends atop 18,100

CLOSING BELL: The BSE Metal index surged over 4.5 per cent amid reports of China further relaxing its zero Covid policy.

4:12 PM

NIFTY VIEW: If index manages to surpass 18200, it can reach 18400

The Nifty had formed a bullish outside bar on the daily chart on December 26. Its follow through was seen on the upside on December 27.

With this, the index has moved up to retest a trendline, which was broken on the downside on Friday last week.

Thus 18150-18200 is the key resistance zone to keep a tab on.

If the index manages to surpass 18200 & sustains in the higher territory then it can stretch towards 18400.

On the other hand, failure near 18150-18200 can drag the Nifty back to 17800.

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

4:09 PM

COMMENT: China demand revival lifts metal stocks

With strong support from global peers, the domestic market is attempting to recoup its previous week's losses.

Metal stocks shone amid hopes of a demand revival in China on reports of loosening Covid restrictions.

This, along with fears over supply disruptions from winter storms in the US, resulted in oil prices rising.

Views by Vinod Nair, Head of Research at Geojit Financial

4:04 PM

Radiant Cash offer subscribed 45% so far on day 3

4:00 PM

Morepen Labs slides for 2nd day; sheds 5%

3:57 PM

Central Bank soars 5%; to buy remaining 35.6% stake in Central Bank Home Finance

3:55 PM

IEX incorporates subsidiary to operate green products trading platform; stock gains

3:52 PM

NBCC gains 2% on winning Rs 69 crore order from Odisha Power Transmission Corp

3:50 PM

Ion Exchange sees better margins for FY23; stock bounces 6%

Ion Exchange says will double consumer segment turnover without much Capex.
 

FY23 margins expected to be better over FY22, growth seen at 30-35 per cent.

3:46 PM

MIDCAPS HEATMAP: Jindal Steel surges 9%; Laurus Labs sheds 2%

3:44 PM

Broad-based gains across sectors; Metal index rises 4%, IT around 1%

3:42 PM

BROADER MARKET: Smallcap index zooms 1.5%; Midcap index 0.8%

3:40 PM

Apollo Hospitals, M&M additional losers on Nifty

3:39 PM

Hindalco joins Tata Steel to surge 6%; JSW Steel, ONGC next Nifty winners

3:37 PM

HEATMAP: Tata Steel rallies 6%; HUL, Nestle, ITC close with cuts

3:35 PM

CLOSING BELL: Nifty closes above 18,100; only 9 stocks end in red

3:33 PM

CLOSING BELL: Sensex gains for 2nd day; ends 361 pts higher

3:24 PM

India Inc takes steps to protect supply chain as Covid-19 rages in China

The surge in Covid-19 cases in China has raised concerns of a supply-chain disruption among Indian companies, many of whom import raw material and components from the neighbouring country. Read more

3:16 PM

Govt raised Rs 4.06 trn via dated securities in July-Sept: FinMin report

The weighted average yield of primary issuances hardened to 7.33 per cent in the second quarter of the current fiscal from 7.23 per cent in first quarter of 2022-23. Read more

3:07 PM

Will the markets see a time-wise correction in 2023?

Neil Parikh, CEO of PPFAS Mutual Fund shares on his views on Sebi’s order on capped exposure to foreign stocks and more in an interview with Puneet Wadhwa of Business Standard. READ MORE

2:57 PM

BSE 500:: TTK Prestige, PowerGrid, HUL among volume shockers

TTK Prestige has witnessed unusally high volume of around 42,238 shares so far on the BSE as against its five-day average volume of around 4,775-odd shares. Similarly, PowerGrid Corporation, Hindustan Unilever, CCL Products and Privi Speciality were among the other volume toppers on Tuesday.

2:49 PM

NEWS ALERT:: Technocraft to buyback shares at Rs 1,000 each

Technocraft Industries has announced its plan to buyback 15 lakh equity shares, representing 6.13 per cent of the total paid-up capital at Rs 1,000 per share. 

2:40 PM

Housing sales in top-7 cities up 54%, top previous high of 2014: Anarock

Despite the sustained hike in property prices and home loan interest rates in 2022, housing sales in the top-7 cities have hit a new peak in 2022, breaching the previous high of 2014, according to an Anarock study. READ MORE

2:31 PM

Global Check:: US, UK stock futures up over 0.5%

Source: Investing.com

2:20 PM

Private banks lead in credit growth in Q2 as demand grows: RBI data

Private sector banks outpaced their state-owned peers in the second quarter ended September 2022, increasing their share in total credit to 38.4 per cent from 37.5 a year ago. RBI said bank credit growth (y-o-y) accelerated further to 18 per cent in September 2022, compared with 14 per cent a quarter ago and 5.8 per cent a year ago. READ MORE

2:11 PM

NPS partial withdrawal rule changing for these subscribers from Jan 1

PFRDA had launched the online partial withdrawal facility in January 2021 to help subscribers cope with the Covid-19 pandemic. READ MORE

2:04 PM

Market Check:: Metal index vaults 4% as China relaxes more Covid-Zero policy norms

1:55 PM

Sebi expands committees on cyber security and information systems

Last rejig of cyber security panel happened in September; decision to ramp up information systems panel follows difficulties faced by CDSL in settlement activities. READ MORE

1:45 PM

Global Check:: Asian shares hold notable gains on Tuesday

Source: Yahoo Finance

1:35 PM

From industry icon to defaulter: How Venugopal Dhoot lost his empire

During the 80s, when founder of Videocon group Venugopal Dhoot, now 71, visited Japan for the first time to seek a partnership with Toshiba to bring colour televisions to India, he did not expect the spectacular success of his maiden venture. READ MORE

1:26 PM

BSE 500:: TTK Prestige, HEG, Jindal Steel among top gainers

TTK Prestige up nearly 9 per cent was the top gainer among the BSE 500 stocks so far on Tuesday. It was followed by HEG, Jindal Steel, CCL Products and Star Cement, up 6 - 7 per cent each.