Dalal Street defies global mood; Sensex soars 443 pts, Nifty top 17,650

CLOSING BELL: ITC, Sun Pharma, RIL, Tata Steel, NTPC, HCL Tech, L&T, and ICICI bank were the top Sensex gainers, while Hindalco, JSW Steel, Grasim, and Cipla were additional top gainers on the Nifty50

3:56 PM

Tech View :: Nifty Bank can hit 41,500 once 39,800 is crosses decisively

The Bank Nifty bulls continued their upper hand and closed near the immediate hurdle of 39,800. The index is trading in a strong uptrend with higher top and had higher bottom formations intact on all the time frames. The index once surpasses the mentioned hurdle will see a strong move on the upside toward the 41,000-41,500 zone. The lower-end support stands at the 38,800-38,500 zone where fresh put writing has been observed.

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

3:54 PM

MARKET CLOSING COMMENT :: Why is domestic equity market surging?

Concerns about the global economy, which is struggling with high inflation and recession, were stoked by mixed job data from the US and a worsening energy situation in Europe. Strong employment in the US will give Fed the confidence to raise interest rates by another 50–75 bps in the forthcoming policy meetings. In anticipation of decrease in output, oil prices increased prior to the OPEC+ summit. Meanwhile, none of these has impacted the domestic market, which continues to hold an upbeat outlook, bolstered by strengthening local economic statistics and rising corporate demand. 

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

 

3:53 PM

BSE Stats :: Advance-Decline ratio at 2:1

3:51 PM

Apar Industries, GE Shipping :: Top BSE Losers at Closing Bell

3:50 PM

Top BSE Gainers at Closing Bell :: Suzlon, Dish TV find spot in the list

3:49 PM

Paytm ends off lows as Co denies links with Chinese firms under ED scanner

3:46 PM

Federal Bank rallies over 3% on merger buzz

On its part, Federal Bank has denied the news report saying it is speculative in nature.

 

"We wish to clarify categorically that the news report of a merger between Federal Bank and another private bank is speculative in nature," Federal Bank said in exchange filing on clarification on news item appearing in media. READ MORE
 

3:45 PM

Metal index ends 1.7% higher lifted by Welspun Corp, Hindalco, JSW Steel

3:43 PM

Media stocks rally; Dish TV, TV18 Broadcast clock healthy gains

3:42 PM

Private Bank index rises 1%, ends as top sectoral gainer

3:41 PM

Broader Markets :: BSE SmallCap index outruns peers

3:40 PM

Broader Markets :: BSE MidCap index gains 0.5%; Exide, Amara Raja Batteries zoom up to 8%

3:39 PM

Sector check :: All indices swim in green; banks lead

3:36 PM

Sensex Heatmap :: Sun Pharma, ITC end as top gainers, rise 2%

3:33 PM

CLOSING BELL :: D-Street defies global mood

The benchmark S&P BSE Sensex soared nearly 500 points intra-day, before cooling off a bit to end at 59,246, up 443 points. 

The Nifty50, too, climbed 126 points to settle at 17,666. 

 

3:27 PM

IPO Update :: Tamilnad Merchantile Bank's issue subscribed 60% so far on day 1

3:21 PM

Large Trade :: 5.05 lakh shares of AB Fashion, worth Rs 15.6 cr, change hands at Rs 309/sh

3:17 PM

ALERT :: US Dollar index hits highest level since 2002

⚠️BREAKING:

3:12 PM

ALERT :: Natural Gas prices surge in Europe

⚠️BREAKING:

3:04 PM

Stock price of this automotive supplier firm has doubled in last 6 months

Shares of Schaeffler India soared 10 per cent to hit a new high in Monday's intra-day trade. The stock has surged 16 per cent in the last four days. Read more

2:56 PM

ALERT | UK August services PMI falls to 50.9 vs 52.6 in July

2:49 PM

Healthy order book, launches to help Maruti take the growth wheel

Market share, margin recovery remain key triggers for the stock, say brokerages. Read more

2:41 PM

RIL's current investment cycle less aggressive, says Morgan Stanley

Brokerage says this will reduce the cost of the company's equity, raises price target on stock to Rs 3,085. Read more

2:29 PM

Brahmastra beats RRR & Bhulbhulaiya advance bookings at PVR

2:20 PM

GLOBAL MARKETS | European indices slump amid gas supply crisis

2:12 PM

BSE 500:: Top losers so far

GE Shipping down nearly 5 per cent and was the top loser among the BSE 500 stocks so far on Monday. It was followed by Gland Pharma, Swan Energy, BEML and Poly Medicure.

2:03 PM

Analysts say 'subscribe' to Tamilnad Mercantile Bank IPO: Read to know why

Tamilnad Mercantile Bank's dedicated customer base, strong financial track record, healthy asset quality and reasonable valuation make analysts bullish on its IPO. READ MORE

1:54 PM

RIL inches closer to acquiring Lanco Amarkantak with Rs 1,960 cr cash offer

Mukesh Ambani-owned Reliance Industries (RIL) is leading the race to acquire Lanco Amarkantak Power (Lanco), a coal-based power project, with an offer of Rs 1,960 crore cash upfront. If the offer is accepted by lenders, this will be the third big-ticket acquisition by RIL under the Insolvency and Bankruptcy Code, 2016, after buying the tower assets of Reliance Infratel – a subsidiary of Reliance Communications - and textile company Alok Industries (Alok). READ MORE

1:47 PM

BSE 500:: Top gainers so far

Suzlon Energy was locked at the 20 per cent upper circuit and was the top gainer among the BSE 500 stocks so far. Triveni Turbine, Vakraqngee, Tube Investments and Schaeffler India were some of the other major gainers on Monday.

1:36 PM

Mistry's death sentimentally negative but stay put in SP Grp stks: Analysts

Cyrus Mistry, a high-profile Indian-born Irish businessman and the former chairman of the Tata group, passed away in a road accident on September 4, 2022. READ MORE