Sensex jumps 249 pts on late buying, Nifty tops 18,400; Airtel, ICICI lead

CLOSING BELL: A late rally in the market, helped the benchmark indices end the rather lacklustre day with notable gains. Debutant Fusion MicroFinance ended at a 12 per cent discount to issue price.

4:07 PM

MARKET COMMENT :: 'Financials lent support to indices after range-bound trade'

Indian markets opened on positive note following positive overall Asian markets. However the markets couldn't sustain the gains post morning session. During the afternoon session, the markets traded volatile with weakness in Metal and Capital Goods shares dragged key gauges lower, while buying in Auto and Telecom stocks helped markets to trade near neutral lines.

Traders were cautious after India’s exports dip to $29.78 billion in October 2022 from $35.73 billion a year ago. Besides, trade deficit widened to $26.91 billion as against $17.91 billion a year ago.

 

During the closing session, some support also came from financial stocks which helped in markets to firmly trade in green.

Views by: Narendra Solanki - Head Fundamental Research- Investment Services, Anand Rathi Shares & Stock Brokers

4:01 PM

MARKET COMMENT :: 'For trend followers, 18,300 would be the sacrosanct support'

Rally gathered pace towards the closing hours after trading range-bound for a major part of the trading session. Majority of the European and Asian indices logged gains, which had a rub-off effect on the local benchmarks.

Sharp fall in the crude oil prices and the strengthening rupee against the dollar boosted investors' confidence. With domestic inflation showing signs of cooling, traders are hoping that the RBI in next month's policy meeting may take a dovish stance in its rate setting decision.

For the trend following traders, 18,300 would be the sacrosanct support level. Above which, the index could rally till 18,500-18,600. On the flip side, if the index trades below 18,300, the chances of hitting 18,230-18,200 would turn bright.

Views by: Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd

 

3:57 PM

COMMENT :: What all moved the markets today?

Following gains in global equities, early losses in the domestic market were reversed with banking stocks steering the recovery. Food and commodity price declines have helped to keep domestic inflation below 7%. Although the CPI has continued to remain above the RBI's tolerance limit of 6%, it is estimated that it will begin to fall within the range from Q1 FY24.

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

 

3:55 PM

Currency check :: Rupee ends higher at 81.10/$

>> This comes against Monday's close of 81.26/$

Source: Bloomberg

3:54 PM

IPO Update :: Keystone Realtors receives 26% subscription so far on day 2

3:52 PM

IPO Update :: Inox Green sails through on second day, garners 1.5x subscription till 3:30 PM

3:50 PM

BSE stats :: Market breadth negative despite benchmarks rising in late deals

3:48 PM

Buzzing stock :: ONGC rises 2%; hits 4-month high intra-day

>> Shares of Oil and Natural Gas Corporation (ONGC) hit an over four-month high at Rs 143.20, on gaining 3 per cent in Tuesday’s intra-day trade in an otherwise range-bound market after the oil explorer reported a standalone net profit of Rs 12,826 crore in September quarter (Q2FY23). The state-owned oil exploration & production company had posted profit of Rs 18,348 crore in a year ago quarter.

3:46 PM

Buzzing stock :: Globus Spirits ends off lows, still down 9% post weak Q2

>> Shares of Globus Spirits slumped 13 per cent to hit a fresh 52-week low of Rs 700 on the BSE in Tuesday’s intra-day trade as the company reported a weak set of numbers for the quarter ended September (Q2FY23).

3:44 PM

Buzzing stock :: Apollo Tyres leaps 4% post Q2 result

>> Shares of Apollo Tyres hit a multi-year high of Rs 303.40 as it surged 6 per cent on the BSE in Tuesday's intra-day trade, in an otherwise subdued market, after the company reported a double digit growth in revenue, and earnings before interest, taxes, depreciation, and amortization (Ebitda) in the September quarter (Q2FY23) despite challenging environment.

3:43 PM

Buzzing stock :: Fusion Microfinance tumbles 12% against issue price

>> Stock lists at Rs 360.5

>> Issue price was Rs 368

>> Hits a low of Rs 321 intra-day

3:40 PM

BSE SmallCap index ends unchanged

3:39 PM

BSE MidCap index down 0.08%; GMR Infra, Polycab fall; Gujarat Gas, Lodha rise

3:37 PM

Broader market check :: Mid, SmallCap indices end flat

3:36 PM

Sectoral trends :: Financials surge in fag-end; Nifty Bank hit 52-week high

3:34 PM

Sensex Heatmap :: Only 8 stocks end in the red; ITC, RIL decline

3:33 PM

CLOSING BELL :: Nifty reclaims 18,400

3:32 PM

CLOSING BELL :: Sensex ends near fresh 52-week high

>> It hit new 1-year high of 61,955.96 earlier today

3:24 PM

This non banking finance company's stock has zoomed over 100% in 5 months

Shares of Ujjivan Financial Services (UFSL) hit a fresh 52-week high of Rs 295.35 as they surged 6 per cent on the BSE in Tuesday's intra-day trade. The stock of the non banking finance company (NBFC) surpassed its previous high of Rs 289.25, touched on November 9, 2022. READ MORE

3:18 PM

Market Check:: Sensex near day's high in late trades, up 259 points

3:06 PM

Global Check:: US, UK stock futures seen holding gains

Source: Investing.com

2:55 PM

BSE Metal index down over 1%; Tata Steel, Coal India slip

2:42 PM

Worst of rupee volatility seen over as Fed view softens: BS poll

Following a month-and-a-half of intense volatility that saw the rupee descend to new lows, the domestic currency is finally seen stabilising as a softer US inflation print has taken the sheen off the dollar. READ MORE

2:31 PM

India to produce 50% energy from renewables by 2030: Modi at G20 meet

India is on track to achieve its target of generating 50 per cent of its electricity from renewable sources by 2030, Prime Minister Narendra Modi told the G20 summit in Indonesia on Tuesday as he ruled out "any restrictions" on energy supply and stability. READ MORE

2:21 PM

BSE 500:: Top losers so far

Nykaa down almost 9 per cent was the top loser among the BSE 500 stocks so far. Coal India, Aster DM Healthcare, Kalpataru Power and Uflex, down 5 - 6 per cent each were the other significant losers.

2:10 PM

BSE 500:: Top gainers so far

Rail Vikas Nigam up nearly 8 per cent was the top gainer among the BSE 500 stocks so far on Tuesday. It was followed by KSB, Gujarat State Petronet, Gujarat Gas and Sundaram Clayton, up around 5 per cent each.

1:55 PM

Indian investors unsure after international crypto exchanges collapse

The collapse began earlier this month when Binance CEO Changpeng Zhao announced his exchange was liquidating all FTX tokens. Read here

1:46 PM

India considers plan to reduce short-term borrowing as yields surge

The government may avoid incremental borrowing via the bills and only borrow to meet its previous repayment needs in the next quarter. Read more

1:35 PM

Globus Spirits slumps 13% on weak Q2 results; stock tanks 59% in 10 months

Its Q2 earnings before interest, taxes, depreciation, and amortization (ebitda) was down 47.4 per cent YoY and 33.2 percent QoQ at Rs 47 crore. Read more

1:26 PM

ALERT | Vedanta to sell Electrosteel Steels Ltd after acquiring it 4 years ago

 

source: ET Now