Adani Enterprises, RBI policy takes Nifty above 17,850, Sensex leaps 378pts

CLOSING BELL: Adani Enterprises surged 23 per cent, while Adani Ports zoomed 9 per cent, leading the winners' list on the Nifty50

4:13 PM

Bank Nifty:: Exhibits range-bound trade after RBI move; Needs to surpass 42,000 hurdle

"The BANK NIFTY index witnessed a range-bound trading session post the RBI policy outcome. The index faces stiff resistance at 42,000 where the highest open interest is built up on the call side. The index needs to break this level decisively for resuming the uptrend. The undertone remains bullish and one should keep a buy-on-dip approach with immediate support at the 41,300 level."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities

 

4:09 PM

COMMENT:: Bulls took charge as RBI delivered in line with market expectations

"Bulls took charge of the markets as the RBI’s MPC meeting delivered a smaller rate hike in line with market expectations. RBI has taken a more optimistic view on domestic growth by increasing the GDP forecast while cautiously keeping CPI inflation at 5.3% for FY24. Meanwhile, global markets traded with hopes as investors digested Powell’s speech, which stated that disinflation had begun but pointed towards the possibility of further rate hikes in response to a stronger job market."

 

- Vinod Nair, Head of Research at Geojit Financial Services
 

4:07 PM

New-age stocks in focus: Paytm soars 15%; Policybazaar, Zomato, Nykaa also rally

Shares of beaten down new-age internet companies rallied up to 10 per cent on Wednesday, supported by heavy volumes, on expectation of improvement in financial performance. READ MORE

4:05 PM

Bharti Airtel slips despite over 91% YoY surge in December net

Airtel continues to report a healthy performance on Indian wireless business front with resilient and industry leading KPIs in terms of India post-paid/4G subscribers, ARPUs and margins. READ MORE

4:02 PM

Adani Enterprises zooms over 100% in three days

Shares of Adani Enterprises rallied over 20 per cent to Rs 2,221 in Wednesday's trade, and have more-than-doubled from its intra-day low of Rs 1,017.10 touched on Friday February 3. READ MORE

4:00 PM

Wonderla Holidays surges 10%, nears 52-week high on strong Q3 results

The management said the significant boost in the number of visitors was due to the increase in domestic tourism, walk-in customers and the revival of student excursion trips. READ MORE

3:58 PM

Cement shares rally on hopes of GST cut; UltraTech gains 2.5%

Finance Minister Nirmala Sitharaman on Tuesday said that the government will consider a review of the 28 per cent Goods and Services Tax (GST) levied on cement. READ MORE

3:53 PM

Market Breadth was positive; 1,996 stocks advanced v/s 1,490 declined

3:51 PM

Nifty Healthcare index up 1.5%; Aurobindo Pharma, Lupin, Biocon shine

3:50 PM

Nifty IT index gains 1.5%; LTTS, LTIMindtree rally up to 3%

3:48 PM

Nifty Metal index surges 3.8%; Adani Ent, Jindal Steel top gainers

3:46 PM

BSE Smallcap Heatmap:: PGIL, Kriti Inds zoom 20%; Barbeque Nation down 5%

3:44 PM

BSE Midcap Heatmap:: PolicyBazaar, Aurobindo Pharma soar over 6%

3:42 PM

Broader markets also finish with prominent gains

3:40 PM

Nifty 50:: Larsen & Toubro, Eicher Motors, Airtel top losers chart

3:38 PM

Nifty 50:: Adani Enterprises lead gainers chart; Adani Ports, HDFC Life also shine

3:36 PM

Sensex 30 Heatmap:: 24 Gainers v/s 6 Losers

3:35 PM

CLOSING BELL:: Nifty 50 settles at 17,872, up 150 points

3:33 PM

CLOSING BELL:: S&P BSE Sensex ends 378 points higher at 60,664

3:24 PM

Global Check:: US, UK futures display mixed bias

Source: Investing.com

3:16 PM

Despite a good Q3, near-term demand worries cloud Apollo Tyres' outlook

Led by a strong operating performance, Apollo Tyres posted better-than-expected financials for the October-December quarter (Q3). Higher gross margins led to a sharp jump in operating profit and the softening raw material basket is a positive for profitability going ahead. Despite the improved show, the stock corrected 3 per cent in trade on Tuesday, which can be attributed to the subdued outlook for domestic and international replacement segments. READ MORE

3:09 PM

Business Update:: Star Health gross direct premium collection up 13%

Star Health and Allied Insurance reported a 13 per cent growth in gross direct premium at Rs 8,806 crore in January 2023 as against Rs 9,947 crore in January 2022.

3:00 PM

Q3 result :: Adani Wilmar's net profit up 16.5% at Rs 246.2 cr vs Rs 211.4 cr YoY

>> Revenue up 7.4% at Rs 15,438.1 cr vs Rs 14,370.9 cr YoY

    

>> EBITDA up 20.2% at Rs 605.3 cr vs Rs 503.6 cr YoY 

 

>> Margin at 3.9% vs 3.5% YoY
 

2:59 PM

BSE 500:: Privi Speciality, Symphony, Thermax among volume shockers

Privi Speciality Chemicals witnessed unusally high volume of around 1.53 lakh shares so far on the BSE as against its five-day average volume of around 3,200-odd shares. Similarly, Symphony, Thermax, Paytm and Zomato were among the other BSE 500 volume toppers on Wednesday.

2:50 PM

Sebi to put onus of detecting price rigging, insider trading on brokers

Asks brokers to maintain whistleblower policy, furnish action-taken report upon spotting fraud; top management to be held accountable for non-compliance. READ MORE

 

2:43 PM

MPC's optimistic growth outlook augurs well for credit demand

The MPC's optimistic growth outlook for H2 FY2024 augurs well for the credit demand for the banking sector as well as the lenders, said Karthik Srinivasan of Icra. READ MORE

2:41 PM

BREAKING :: Turkey's stock exchange suspends trading

⚠️BREAKING:

2:35 PM

New-age stocks in focus; Paytm, Policybazaar, Zomato, Nykaa gain up to 10%

Shares of beaten down new-age internet companies rallied up to 10 per cent on Wednesday, supported by heavy volumes, on expectation of improvement in financial performance. READ MORE

2:26 PM

Global Check:: Kospi, Taiwan shine in mixed Asian trade

Source: Yahoo Finance

2:19 PM

Expert on RBI Policy: Another rate hike possible to keep the Rupee stable

The Reserve Bank of India (RBI) has hiked the repo rate by 25 basis points, which is in line with our expectations. Despite this increase, a major concern for the RBI remains that core inflation is likely to remain sticky. This indicates that the RBI governor is cautious in taking any risk with inflation. Additionally, the Federal Reserve's stance of not taking a chance with inflation further strengthens RBI's resolve to be proactive. Therefore, we believe that in the next monetary policy, RBI may take the decision of another rate hike to keep the Indian Rupee stable.

 

- Sunil Damania, Chief Investment Officer, MarketsMojo