Sensex snaps 4-day losing streak, ends 721 pts up; Nifty reclaims 18,000

CLOSING BELL: The NSE Nifty shut shop at 18,015, up 208 points. Broader indices outperformed the benchmarks with gains of up to 3 per cent.

4:20 PM

COMMENT:: Markets to remain volatile in the near term

After a four-day selloff, the domestic market was refuelled by bottom fishing and optimistic sentiment from global counterparts. PSBs led the rally, while mid- and small-cap stocks outpaced the benchmark. Contrary to the trend, global concerns over the recession and COVID spread continue to remain high, which will sustain volatility in the market.

 

- Vinod Nair, Head of Research at Geojit Financial Services.
 

4:19 PM

Nifty view: Trend remain weak; Resistance seen at 18,100

"Nifty remained volatile throughout the session before closing below the crucial resistance level of 18,070. Besides, the index failed to reclaim the 50 EMA on the daily timeframe. The momentum indicator remains with a bearish crossover, implying weakness. The trend is likely to remain weak over the near term. The supports are pegged at 17,950/ 17,800, whereas on the higher end, resistance is placed at 18,100."

 

- Rupak De, Senior Technical Analyst at LKP Securities

4:18 PM

Bank Nifty:: Downside support for the banking index stands at 42,000-mark

"The BANK NIFTY index witnessed a sharp up move after a massive sell-off in the previous week. The index downside support now stands at 42,000 where aggressive put writing has been observed. The next hurdle on the upside is seen at 43,000 where the highest open interest is built up on the call side. The index remains in buy mode as long as the mentioned support is held on a closing basis."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities

4:15 PM

NDTV edges higher as founders plan to sell 27.26% stake to Adani group

On Friday, founders Prannoy Roy and Radhika Roy said that they would sell 27.26 per cent out of their 32.26 per cent shareholding in the news broadcaster to the Adani Group. READ MORE

4:14 PM

eClerx Services slips 3% on turning ex-date for buyback

The company has proposed to buy back 1.71 million equity shares at a price of Rs 1,750 apiece via tender offer route. READ MORE

4:12 PM

Usha Martin surges 17% on heavy volumes

In the past three months, the stock has soared 32 per cent, as compared to 6 per cent rise in the benchmark index. READ MORE

4:10 PM

Dreamfolks hits new low, falls 35% from listing price on Covid-19 fears

Shares Dreamfolks Services hit a new low of Rs 358.80 in Monday’s trade, in an otherwise firm market. The stock of airport & airport services company traded at its lowest level after market debut on September 6. READ MORE

4:08 PM

Poonawala Fincorp surges 14% after a 15% decline in past four trading days

Brokerage firm, Motilal Oswal Financial Services had recently initiated coverage on the stock with a 'Buy' rating and a price target of Rs 350 per share. READ MORE 

4:06 PM

Nifty Smallcap:: EaseMyTrip, Maha Bank, Suzlon among top gainers

4:04 PM

Nifty Midcap:: PNB, Federal Bank, Trent among top gainers

4:03 PM

Market Breadth fairly positive; 2,876 stocks advance v/s 759 declining shares

3:59 PM

Broader indices outperform the benchmark - BSE Sensex

3:58 PM

Nifty 50:: Pharma shares among notable losers

3:57 PM

Nifty 50:: SBI, IndusInd Bank, Hindalco lead gainers chart

3:55 PM

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

3:36 PM

CLOSING BELL:: Nifty 50 ends at 18,015, up 208 points

3:34 PM

CLOSING BELL:: S&P BSE Sensex ends 721 points higher at 60,566

3:16 PM

India's growth rate to be 6.4% for next 5 years: UK-based research centre

India's annual growth trajectory for the next five years is expected to be 6.4 per cent, after which it is likely to rise to 6.5 per cent during the subsequent nine years, according to the Centre for Economics and Business Research (Cebr). READ MORE

3:08 PM

Global Check:: US, UK stock futures advance up to 0.5%

Source: Investing.com

2:57 PM

Cryptocurrency in 2022: What it was, what it is, and what to expect in 2023

The year 2022 was turbulent for cryptocurrency. Tightening monetary policy and geopolitical pressures led to a major sell-off in the industry. Following hawkish commentary from the Reserve Bank of India (RBI), the Indian government imposed a flat 30 per cent tax and an additional 1 per cent tax deducted at source (TDS) on the transfer of crypto tokens in this year's Budget. READ MORE

2:49 PM

eClerx Services slips 7% on turning ex-date for buyback via tender offer

The stock of the business process outsourcing (BPO)/ knowledge process outsourcing (KPO) company had hit a 52-week low of Rs 1,223.95 on June 17. At 02:12 PM; eClerx Services was trading 4 per cent lower at Rs 1,313.95 as compared to a 1.2 per cent rise in the S&P BSE Sensex. READ MORE

2:40 PM

Hold on to equity funds in 2023 despite turbulence, say experts

After two years of blockbuster returns in 2020 and 2021, most equity mutual fund categories have given single-digit or negative returns in 2022. Their lacklustre performance may continue for some time in 2023 as well. READ MORE

2:33 PM

BSE 500:: Zensar Tech, Suven Pharma, Trent among volume shockers

Zensar Technologies has witnessed unusally high volume of around 7.79 lakh shares so far on the BSE as against its five-day average volume of around 73,000 shares. Similarly, Triveni Turbine, Suven Pharma, Trent and Garware Technologies were among the other volume toppers on Monday.

2:22 PM

Credit card spends drop sequentially as festive season draws to close

Credit card spending dropped 11 per cent sequentially in November at Rs 1.15 trillion, but topped Rs 1 trillion for the ninth month straight, data from the Reserve Bank of India (RBI) showed as the festive season ends and consumption activity slows down. READ MORE

2:13 PM

Poonawala Fincorp surges 13% after a 15% decline in past four trading days

Motilal Oswal Financial Services recently initiated coverage on Poonawalla Fincorp with a 'buy' rating and a target price of Rs 350 per share. READ MORE

 

2:04 PM

Market Check:: Asian shares exhibit a mixed trend

Source: Yahoo Finance

1:56 PM

Telecom firms get green signal for towers, services on railway land

The Ministry of Railways has opened its telecommunication services to private players, allowing them to install towers on land owned by it, Business Standard has learnt. So far, this right was reserved only for its own telecom arm -  RailTel Corporation of India. READ MORE

1:47 PM

BSE 500:: EClerx, Ajanta Pharma, Timken India among top losers

EClerx Services down over 4 per cent was the top loser among the BSE 500 stocks. Ajanta Pharma, Dr Lal Pathlabs, Timken India and G R Infraproject, down 3 - 4 per cent each were the other significant losers so far on Monday.

1:36 PM

L&T gains 2% on 'significant' order wins for its water treatment business

The company bagged an order from the Tumakuru Industrial Township Limited (TITL) under the Chennai Bengaluru Industrial Corridor (CBIC) along with repeat orders from the Tamil Nadu Water Supply and Drainage Board (TWAD Board), funded by the Asian Development Bank (ADB), L&T said in a press release. READ MORE

1:27 PM

Market Check:: Nifty Smallcap 100 soars over 3%; EaseMyTrip zooms over 11%