Sensex hits 63K, gains 418pts; Nifty ends at record high of 18,750

CLOSING BELL: The S&P BSE Sensex scaled a new summit at 63,303, and settled above 63,000-mark for the first-time ever. The Nifty 50 hit a new all-time high at 18,816 on Wednesday.

4:14 PM

TECH VIEW :: Strategy for Bank Nifty

The BANK NIFTY index continued to trade in a narrow range between 43,000-43,500 where both the bulls and the bears are sitting on the lines. The undertone remains bullish and one should keep a buy-on-dip approach as long as it maintains the support of 42,800 on the downside. The index on the upside to resume the momentum must surpass the hurdle of 43,500 on a closing basis.

Views by: Kunal Shah, Senior Technical Analyst at LKP Securities

3:57 PM

COMMENT :: 'We are now eyeing the 19,000-mark milestone in Nifty'

After the initial uptick, the Nifty index oscillated in a narrow band for most of the session however a sharp surge in the index majors in the last half an hour helped the index to surpass the hurdle at 18,700 and close around the day’s high at 18,758.35 levels. Meanwhile, a mixed trend on the sectoral front kept the participants busy wherein metal, realty, and auto traded upbeat while banking and IT consolidated further. The broader indices, too, participated in the move and gained in the range of 0.7-1.3%.

 

The rotational buying across sectors is fuelling the recent surge while the global markets are not offering any clear signal. We’re now eyeing a new milestone of the 19,000 mark in Nifty. Participants should keep a close watch on themes/sectors which are gaining traction and place their bets accordingly.  

Views by: Ajit Mishra, VP - Technical Research, Religare Broking

3:55 PM

COMMENT :: Will benchmarks see a pullback in the coming sessions?

The beauty of the current rally is that the market is finding support from new sectors every day. In the second half of 2022, there is a clear trend of outperformance of Indian equity markets. This trend is likely to continue despite the fact that we are trading at expensive valuations compared to most of our global peers.

The market will react to Jerome Powell's speech tomorrow, and auto sales figures will cause stock-specific movements. The market's attention will then shift to the Gujarat election and RBI policy.

Globally, news flow from China may continue to cause volatility, while the movement of the dollar index, US bond yields, and crude oil prices will be other important factors.

The only concern is that the market is overbought, which may lead to some pullback or consolidation at higher levels, but there are no major signs of weakness. Technically, Nifty has immediate targets of 18,888 and 19,000, while on the downside, 18,700 and 18,500 will act as strong support levels.

Views by: Santosh Meena, Head of Research, Swastika Investmart

3:53 PM

COMMENT :: What all happened in the markets today?

Domestic market continued its quest for gains, boosted by FII inflows. However, markets will be sensitive to the Fed Chair’s remarks later in the day, as investors are expecting a moderation in the pace of rate hikes. An In-line comment will help to sustain the rally while loosening COVID-19 restrictions in China is providing relief to global markets.

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

 

3:51 PM

Currency check :: Rupee ends higher against US dollar on Wednesday

Source: Bloomberg

3:50 PM

BSE Stats :: Market cap of all BSE listed companies hit Rs 288.67 triliion-mark

3:48 PM

BSE Stats :: Market breadth favours buyers; 265 stocks hit upper circuit

3:47 PM

Buzzing stock :: Gland Pharma drops over 5% after company enters into pact to acquire Cenexi

3:45 PM

Buzzing stock :: Investors check into hotel stocks; Lemon Tree rallies over 9%

3:44 PM

Buzzing stock :: Gas stocks end higher on Kirit Parikh Committee's recommendation

3:43 PM

Buzzing stock :: Zomato gains over 2.5% post block deal

3:42 PM

Buzzing stock :: Varun Beverages advances 8% as 0.5% equity changes hands

3:41 PM

Sector check :: Metal stocks surge on re-opening hopes in China

3:39 PM

Sector check :: FMCG stocks shine on Wednesday; Varun Beverages, Godrej Consumer lead

3:38 PM

Sector check :: Auto stocks end higher ahead of November sales data

3:37 PM

Broader indices swim in sea of green; BSE MidCap index up 1%

3:36 PM

Sectoral trend :: All but Nifty PSU Bank index close higher; Auto index jumps 2%

3:35 PM

Sensex Heatmap :: IndusInd Bank, SBI among 4 index losers today; M&M, Ultratech shine

3:33 PM

CLOSING BELL :: Sensex leaps in fag-end; ends above 63,000-mark for the first time

>> Index hits record peak of 63,303 intra-day

3:33 PM

CLOSING BELL :: Nifty closes above 18,750

3:30 PM

ALERT :: Nifty hits record high of 18,816

3:20 PM

Sensex contributors :: Which shares lifted the index above 63,000 level?

3:12 PM

IGL, MGL: Parikh recommendations may trigger up to 11% rally in gas stocks

Barring Gujarat Gas, other gas related stocks like Reliance, ONGC, MGL, IGL are poised for the next upside. READ MORE

2:57 PM

Global investors bullish on Indian equities market despite 86% premium: USB

"India is one of only three markets to trade at a premium to its own history, (the other two being Thailand and the UAE)" despite it commanding an 86 per cent premium over its emerging markets peers, according to UBS Securities. READ MORE

2:48 PM

Investors want more of India as it improves infra: Goldman Sach's Sengupta

Foreign investors are showing increased interest in India, as Asia’s third-largest economy ramps up its manufacturing capacity and improves infrastructure, said Santanu Sengupta, Chief India Economist at Goldman Sachs Group Inc. READ MORE

2:38 PM

IGL, MGL gain up to 4% post Kirit Parikh panel gas pricing recommendations

Shares of oil & gas companies, including those of city gas distribution (CGD) companies, were in focus on Wednesday and moved higher by up to 4 per cent on the BSE intra-day trade on reports that the Kirit Parikh Committee recommended a floor and ceiling price for natural gas produced from legacy fields for a period of five years. READ MORE

2:37 PM

ALERT :: SENSEX TOPS 62,900, NIFTY 18,700 FOR THE FIRST-TIME EVER

2:30 PM

NDTV saga: Who are the three new directors on the board of RRPR Holding

Tuesday night events, which saw Radhika and Prannoy Roy resigning as directors from NDTV’s board, also saw three new directors being appointed: Sudipta Bhattacharya, Senthil Chengalvarayan and Sanjay Pugalia. Here’s what we know about the three new faces on the board of Radhika Roy Prannoy Roy (RRPR) Holding, an NDTV promoter entity. READ MORE

2:21 PM

BSE 500:: IRFC, Gland Pharma, Rail Vikas among top losers

IRFC down 6 per cent was the top loser among the BSE 500 stocks so far. Gland Pharma, Rail Vikas, New India Assurance and IFB Industries were the other prominent losers, down 3 - 5 per cent each.

2:10 PM

Market regulator Sebi plans simplified BRSR, ESG rating regulations

These changes would be based on the recommendations made by a committee formed by the capital markets regulator on ESG regulations, said Sebi Chairperson Madhabi Puri Buch. READ MORE