Sensex soars 900 pts, Nifty ends near 17,600; PSBs, Adani Group stks sizzle

CLOSING BELL: The Rs 15,446 cr stake buy by GQG Partners in Adani Group, coupled with positive global cues buoyed sentiment on Friday. Heavyweights RIL, ITC and Airtel also rallied up to 3 per cent.

4:31 PM

Nifty: Short-term trend remain negative; resistance seen at 17,800

"Indian equities have witnessed a smart recovery during the day. On the daily chart, the index has given a consolidation breakout, suggesting a rise in optimism. On the higher end, it found resistance around the 14-day moving average. The short-term trend remains negative as the index has closed below the critical short-term moving average. The momentum oscillator RSI is in bullish crossover on the daily timeframe. On the higher end, the Nifty may move higher once it moves above 17,650; on the higher end, resistance is visible at 17,800. On the lower end, support is visible at 17,470."

 

- Rupak De, Senior Technical Analyst at LKP Securities

4:29 PM

Bank Nifty:: Likely to test 42,000 level

"The BANK NIFTY bulls came back strong and surpassed the hurdle of 40,800 with a sharp surge in volumes. The momentum indicator has given a positive crossover on the daily chart which confirms the buy signal. The index is likely to touch the level of 42,000 where fresh call writing has been observed."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities

4:19 PM

Imagicaaworld Entertainment zooms 20%

The stock has sored over 27 per cent in the last two days, after the opening of Aquamagicaa in Surat. The company said business continues to show an excellent rebound after two years of adverse COVID-19 impact as well as overall improvement in the health of operations. READ MORE

4:16 PM

WPIL hit 10% upper limit on securing Rs 1,225 cr order from Madhya Pradesh Jal Nigam

Meanwhile, in the past one month, the stock of the industrial products company has zoomed 83 per cent after it reported robust December quarter (Q3FY23) results. READ MORE

4:14 PM

Adani Group shares zoom up to 17% as GQG Partners picks stake in four firms

Shares of Adani group companies rallied up to 17 per cent on the BSE on Friday after the promoters sold shares worth Rs 15,446 crore in four of its listed entities to GQG Partners, a US-based global equity-investment boutique firm. READ MORE

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4:11 PM

Alembic Pharma slipped intra-day after board approved Rs 1,150 cr as impairment charges

This one time impairment impact notwithstanding, we believe this move bodes well for future return ratios and profitability. We expect more impairments in the due course, ICICI Securities said in a note. READ MORE

4:09 PM

Techno Electric surges 6.5% on healthy growth outlook

The management expects growth momentum of business as well as execution to continue for the coming three years. READ MORE

4:08 PM

Nifty Realty index ends 1.5% higher; Godrej Properties jumps 3.7%

4:05 PM

Nifty FMCG index gains 1.3%; McDowell, ITC led

4:03 PM

Nifty Metal index vaults 3.5%; Vedanta, Tata Steel gain up to 5%

4:01 PM

Nifty PSU Bank index surges 5.4%; Union Bank, UCO Bank gallop over 8%

Shares of PSU Banks logged solid gains on Friday amid a sharp rebound in Adani group stocks. READ MORE

3:57 PM

BSE Smallcap Heatmap:: Finolex Cables, Indigo Paints zoom up to 10%; Zensar, GE Shipping dip

3:55 PM

BSE Midcap Heatmap:: Union Bank, PolicyBazaar soar up to 8%; Yes Bank sheds 3.6%

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3:54 PM

Market Breadth extremely positive, nearly 3:1

3:52 PM

Broader indices lag in terms of benchmark gains; VIX dips 6%

3:50 PM

Nifty 50 Losers:: Tech Mahindra slips 2%; UltraTech Cement, Cipla 1%

3:49 PM

Nifty 50 Gainers:: Adani twins rally up to 17%; SBI 5%

3:46 PM

Sensex 30 Heatmap:: SBI, Airtel, RIL, ITC top gainers char; Tech Mahindra slips

3:38 PM

CLOSING BELL:: NSE Nifty50 ends 272 points higher at 17,594

3:34 PM

CLOSING BELL:: S&P BSE Sensex jumps 900 points to settle at 59,809

3:19 PM

No proposal to increase sugar export quota from 6 mn tonnes: Food Secy

"The sugar production is going down by about 9 lakh tonnes, that is our estimate from the previous year. So keeping that in view, as of now there is no proposal to increase the export quota," he said. READ MORE

3:10 PM

Imagicaaworld zooms 27% in two days after launching Aquamagicaa in Surat

The company said business continues to show an excellent rebound after two years of adverse COVID-19 impact as well as overall improvement in the health of operations. READ MORE

3:00 PM

MARKET CHECK: Sensex near day's high; holds gain of 1,000 points

2:52 PM

Pump and dump scheme: What is it, how it works and how is it monitored

Arshad Warsi made a profit of Rs 29.43 lakh and his wife Maria Goretti of Rs 37.56 lakh using a YouTube-run pump and dump operation last year. READ

2:40 PM

IPO UPDATE: Divgi TorqTransfer's offer fully subscribed on last day

2:28 PM

European markets open higher as investors absorb inflation data

A flash estimate for the euro zone showed headline inflation eased from 8.6% to 8.5%, but this was above estimates.

2:18 PM

GMR Group to invest Rs 5,000 cr on Bhogapuram Airport in Andhra: GM Rao

The GMR Group which is in the process of developing an international airport at Bhogapuram near here will be investing Rs 5,000 crore on the aerodrome in the first phase. READ

2:08 PM

WPIL soars 10% on securing Rs 1,225 cr order from Madhya Pradesh Jal Nigam

Meanwhile, in the past one month, the stock of the industrial products company has zoomed 83 per cent after it reported robust December quarter (Q3FY23) results. READ MORE

1:57 PM

China real estate industry recovering from debt crackdown: Officials

Pan Gongsheng mentioned Evergrande Group, the global industry's most heavily indebted developer, but gave no update on its government-supervised efforts to restructure 2.1 trn yuan ($305 bn) in debt. READ MORE

1:46 PM

BSE 500:: Shree Cement, Symphony, NBCC among top losers

Shree Cement down nearly 4 per cent was the top loser among the BSE 500 stocks. Symphony, Aptus Value Housing, NBCC and Yes Bank down around 2 per cent each were the other notable losers so far on Friday.