Sensex up 630 pts, Nifty atop 16,500; ONGC, RIL, Infy, TCS top contributors

CLOSING BELL: ONGC, Tech M, Reliance Industries, TCS, HCL Tech, SBI, and Infosys were the top gainers, up between 2 per cent and 3.7 per cent

4:03 PM

Nifty tech view: Buy on dips effective strategy as long as index holds above 16,350

Nifty found resistance at the higher levels as it reached the upper band of the rising channel on the daily chart.

Over the near term, the index may consolidate till it gives a breakout above 16,600.

On the lower end, 16,350-16,400 may remain crucial support.

A buy on dips strategy is likely to work as long as the Nifty holds above 16,350.

Views by Rupak De, Senior Technical Analyst at LKP Securities.

4:01 PM

Post-closing view: Sustained buying from FIIs to cushion the upward rally

Indian stocks led a steady climb as a result of encouraging signals from both domestic and international markets.

Reduced export duty and windfall taxes improved the mood of oil producers.

Strong quarterly results in the US market boosted the rally, while the European market rose as worries over Europe's energy supply eased.

If sustained buying from FIIs prevails, it will provide a cushion to the upward rally in the domestic market.

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

3:58 PM

Rupee closes at record closing low of 80/$

3:56 PM

Syngene Int sheds over 1% ; co reports Q1 PAT of Rs 74 crs vs Rs 77 crs last yr

 

3:54 PM

Asian Granito zooms 3%; co launches new range of tiles, slabs, sanitary ware

 

3:52 PM

Dolly Khanna buys 1.09% stake in Manali Petro too; stock gains 3%

 

3:50 PM

Zuari Ind rises over 6%; investor Dolly Khanna buys 1.2% stake in co during Q1

 

3:48 PM

Care Ratings approves share buyback at Rs 515 via tender route

 

3:46 PM

IT pocket surges 3% leading sectoral gains; Auto, Media, Realty packs underperform

chart

3:44 PM

Gains spread to broader markets; but leaner vs benchmarks

 

3:42 PM

Nifty losers: HDFC Life, M&M, Eicher Motors top index drags

 

3:40 PM

Nifty winners: ONGC leads gainer pack, soars 4% on windfall tax reduction

 

3:38 PM

Sensex Heatmap: Only 10 stocks close in red; Tech M, HCL Tech, RIL, TCS lead upmove

 

3:36 PM

Closing Bell: Nifty edges over 16,500 with 180 pt-gain

 

3:35 PM

Closing Bell: Sensex climbs for 4th day; ends 630 points higher

 

3:26 PM

Building material players take a demand, margin hit in June quarter

Slowdown in construction activity, high inventory levels and cost spike key negatives. Read here

3:19 PM

RBI prepared to spend $100 bn more for defending rupee, says report

RBI is prepared to sell a sixth of its foreign exchange reserves to defend the rupee against a rapid depreciation after it plumbed record lows in recent weeks, said a senior source of Reuters. Read here

3:19 PM

STOCK ALERT :: ITC hits 52-week high of Rs 299.5

3:11 PM

Hatsun Agro breaches Rs 2,000 crore sales mark in Apr-Jun quarter

Dairy products maker Hatsun Agro Products has crossed the Rs 2,000 crore sales mark during the quarter ending June 30, 2022 for the first time, the company said. Read here

3:00 PM

Adani Enterprises, Bajaj Auto among stocks that hit 52-week high

2:56 PM

World shares hit 3-week high as recession fears ease, dollar hovers low

World shares hit a three-week high on Wednesday as strong US corporate earnings and the expected resumption of Russian gas supply to Europe allayed fears of a recession. READ MORE

2:51 PM

ICICI Lombard General Insurance dips 5% post June quarter earnings

The country's largest private sector general insurer reported 80 per cent YoY growth in net profit at Rs 349 crore in Q1FY23 on the back of a healthy growth in premium income. READ MORE

2:44 PM

European markets edge higher on strong corporate earnings

2:32 PM

Rupee depreciation against US dollar lower than other major currencies: CEA

CEA Nageswaran said that the depreciation of the rupee against the US dollar has been lower than other major global currencies such as the Euro, the British pound and the Japanese yen. READ MORE

2:23 PM

UK inflation hits new 40-year high of 9.4% in June

2:16 PM

Realty stocks lose steam; Prestige, Phoenix tank over 2%

2:06 PM

FPIs, mutual funds increase marginally stake in Paytm in Apr-June qtr

Foreign portfolio investors and mutual funds have marginally increased stake in Paytm's parent company One97 Communications. READ MORE

1:55 PM

Aether Industries slides 4% after stock hit 52-week high

1:49 PM

MARKET VIEW: Seen definite reduction in volatility in the last couple of weeks

The Indian markets have opened higher on positive global cues, with overnight US markets up more than 2% on the back of strong corporate earnings.

Weakness in the dollar index is also helping generate a risk-on environment. Domestically, the move by the Indian government to reduce tax on windfall gains for Oil and Gas companies is helping heavyweights like RIL and ONGC to outperform.

We believe that there is a definite reduction in market volatility in the last couple of weeks, but one needs to be wary of risk emanating from Europe.

Especially with issues relating to the resumption of gas supplies to Europe from Russia and the corresponding effect on growth rates if the gas supply is not restored.

We advise investors to gradually increase allocation to equity, especially since FII selling pressure has significantly ebbed in recent times. Some sectors we like are Banks, Auto, and Capital Goods.

Views by Naveen Kulkarni, Chief Investment Officer, Axis Securities

1:42 PM

Q1 impact: Hindustan Unilever can rally to Rs 3,000-mark, indicates chart

The HUL chart has seen breakout of the 'Inverse Head and Shoulder' after the stock conquered the Rs 2,400-level, thus indicating an upside target of Rs 3,000 in the medium-term. READ MORE