Sensex up 54 pts, Nifty holds 17,600; NDTV gains 5%, Adani Enterprises 4%

CLOSING BELL: Technically, shares of NDTV have rallied four-fold since December 2021, staging one of its biggest rally since 2007-08

4:00 PM

Expert view: Bulls and bears battle it out amid weak global cues

"Bulls and bears continued to battle it out in the domestic market as weak global cues persisted, keeping the market under pressure. The US economy contracted amid muted demand conditions with the service sector witnessing a sharp decline. Markets in Europe experienced a protracted sell-off as a result of investor's concern over the oil crisis and the uncertain growth outlook."

 

- Vinod Nair, Head of Research at Geojit Financial Services
 

3:59 PM

Nifty tech view: Near resistance seen at 17,700

"The Nifty remained choppy during the day and moved within bands of 17,500 and 17,600. The daily RSI is in bearish crossover. However, it has sustained above the important near term moving average during the day. The trend for the short term looks sidewards. On the higher end, resistance is visible at 17,700; whereas on the lower end, support is visible at 17,500/ 17,400."

 

- Rupak De, Senior Technical Analyst at LKP Securities
 

3:59 PM

Bank Nifty view: Bank Nifty could see short-covering up to 40,000 level

"The Bank Nifty index was the clear outperformer in today's trading session and has surpassed the immediate hurdle of 39,000. The index remains in a buy-on-dip mode with immediate support at the 38,500 level where a strong base has been formed. The next hurdle on the upside is placed at 39,200 and once taken out will see further short covering towards the 40,000 level on the upside."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities 

3:59 PM

Primary Market Update:: Strong retail demand seen for DreamFolks Services IPO

DreamFolks Services Limited IPO was subscribed up to 1.5 times as of 3:50 PM. The retail quota was subscribed 6.9 times. 

Source: BSE

3:52 PM

Adani Group's open offer lifts NDTV to 14-year high, stock hits upper limit

The stock was locked at the 5 per cent upper limit at Rs 388. The existing promoter group (Roy family) of NDTV has claimed Adani group firms had acquired the stake without consulting its promoters, thus, there may be some legal repercussion ahead. READ MORE

3:50 PM

Tejas Networks surges nearly 7%, nears 52-week high on hopes of robust revenue growth

Post 5G spectrum auctions, we expect to see a multi-year capex spend cycle for building both wireline and wireless infrastructure, said the company in its annual report. READ MORE

3:48 PM

Ujjivan Financial hits 52-week high, gains over 6% on heavy volumes

Shares of Ujjivan Financial Services (UFSL) hit a 52-week high of Rs 203.55 on the back of heavy volumes. The counter saw trades of around 49.45 lakh on the NSE. The stock has gained more than 100 per cent in the last six months. READ MORE

3:44 PM

Nifty IT, Pharma indices among notable losers

3:43 PM

Sectorally, Nifty Realty, Media and Private Bank indices gain the most

3:41 PM

Broader indices, mainly Smallcaps, Midcaps outperform benchmark Nifty 50

3:39 PM

Nifty 50:: Top FIVE gainers and losers on Wednesday

3:38 PM

Sensex 30 Heatmap:: IndusInd, NTPC shine; Tata Steel, Titan whine

3:36 PM

NSE Nifty 50 adds 27 points, settles at 17,605

3:34 PM

Closing Bell:: S&P BSE Sensex ends 54 points higher at 59,085

3:23 PM

BSE 500:: Volume Shockers

IFB Industries has witnessed unusually high volume of around 1.35 lakh shares on the BSE so far as against its five-day average volume of around 1,460-odd shares. Similarly, Ajanta Pharma, Biocon, RBL Bank and Tata Coffee witnessed a significant spike in volume on Wednesday.

3:16 PM

India application software spending to reach $4.7 bn in 2022: Gartner

End-user spending on enterprise application software in India is likely to total $4.7 billion in 2022, an increase of 14.8 per cent from 2021, a Gartner report said on Wednesday. READ MORE

3:08 PM

BSE 500:: Top monthly losers so far

Tanla Platforms has plunged nearly 26 per cent and was the biggest loser among the BSE 500 in the last one month. Similarly, Brightcom Group, Intellect Design, Chemplast Sanmar and C.E. Info System were the other significant losers.

3:01 PM

Ashish Kacholia portfolio: This stock has zoomed 75% in three months

Shares of Safari Industries moved higher by 9 per cent to its record high level of Rs 1,545.55 on the BSE in Wednesday's intra-day trade. READ MORE

2:55 PM

BSE 500:: Top monthly gainers so far

Deepak Fertilisers has zoomed over 41 per cent and was the top monthly gainer in the last one month among the BSE 500 stocks. Similarly, Metro Brands, JSW Energy, BEML and IDFC First Bank have rallied more than 35 per cent each in the same period.

2:44 PM

Global Check:: US, UK stock futures seen directionless

Source: Investing.com

2:35 PM

Control of NDTV not transferred to VCPL via loan agreement, says SAT

Against the backdrop of an attempted takeover of NDTV by Adani Media Works, a Securities and Appelate Tribunal (SAT) order of July 20, 2022 assumes significance. READ MORE

2:27 PM

Stocks at all-time high:: Adani Transmission, Elgi Equipments, KSB

20 Microns, Adani Transmission, Apar Industries, Ashai India Glass, Elgi Equipments, KSB and Lakshmi Machine Works were among stocks trading near life-time highs.

2:19 PM

BSE 500:: Top losers so far

Adani Power and Brightcom Group shed 5 per cent each and were the top losers among the BSE 500 stocks so far. They were followed by Aptus Value Housing. Deepak Fertilisers and Adani Green.

2:07 PM

Govt considers selling at least 51% of state-backed IDBI Bank: Report

A panel of ministers will make the final decision on the structure of the deal, the people said. The government and LIC will formally seek to gauge buyer interest as soon as the end of September, one of the people said. READ MORE

1:57 PM

Aban Offshore gains 3%

Aban Offshore informed BSE that it completed the sale of Rig Deep Driller 2, owned by its step-down subsidiary. The stock was up 3 per cent in intra-day trades so far.

1:51 PM

Asian Markets Update:: Hang Seng, Shanghai fall up to 2%

Source: Yahoo Finance

1:43 PM

BSE 500:: Top gainers so far

Responsive Industries and Indiabulls RealEstate have surged around 6.5 per cent each and were the top gainers among the BSE 500 stocks so far on Wednesday. Allcargo Logistics, Greaves Cotton and RBL Bank were some of the other significant gainers, up around 6 per cent each.

1:35 PM

IPO Update :: Dreamfolks issue fully subscribed on day 1 on strong retail push

1:28 PM

RBL Bank spikes over 9% in 2 days after board approves Rs 3,000 cr fund raise

1:16 PM

Asia's richest man Adani's conglomerate on deals spree in India, abroad

Indian billionaire Gautam Adani, Asia's richest man, is making his biggest media bet with a bid to buy a majority stake in New Delhi Television (NDTV). READ MORE