Sensex soars 359pts, Nifty tops 21,250 amid broad buying; Inox India up 41%

Closing Bell on Thursday December 21: In the broader markets, the BSE MidCap and SmallCap indices outpaced frontline indices as they climbed 1.6 per cent and 1.69 per cent, respectively

4:05 PM

Comment :: 'Buy on dips strategy helped markets rebound'

After a subdued start, the market reversed from the day’s low amid buy-on-dips strategy. However, the overall trend is subdued, FIIs stayed muted ahead of festive break and global market traded on a negative note ahead of announcement of the US GDP data today.

Some consolidation is warranted in the near term due to peak valuation. A gradual rise in oil prices along with concern over high domestic food inflation may have a hindrance to the stretched rally of the last 2 months

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

3:51 PM

Comment :: 'Ample trading opportunity despite overall consolidation'

We expect consolidation in the index now; however there will be no shortage of trading opportunities on the stock-specific front.

Participants should align their trades accordingly and prefer sectors, which are showing relatively higher strength.

Apart from the domestic factors, the performance of the US markets would play a critical role in the next directional move so keep a close watch.  

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

3:44 PM

Currency check :: Rupee ends 10 paise weaker

3:42 PM

SmallCap Heatmap :: Index settles 1.7% higher; check top gainers and losers

3:41 PM

MidCap Heatmap :: Index ends 1.6% higher; SJVN, IRCTC lead

3:39 PM

Nifty Heatmap :: BPCL, HDFC Bank, Power Grid shine in Thursday's session

3:38 PM

Closing Bell :: Nifty reclaims 21,250 after testing 21,000 intraday

3:37 PM

Closing Bell :: Sensex bounces 945 pts off lows, ends 359 pts higher

3:23 PM

Hindustan Copper hits over 11-year high, surges 12% on stable outlook

Shares of Hindustan Copper hit over 11-year high of Rs 220.30 as they surged 12 per cent on the BSE in Thursday's intraday trade on the back of heavy volumes on stable outlook. In the past two months, it has zoomed 55 per cent. Moreover, in the past eight months, the stock price has more-than-doubled, skyrocketing 124 per cent. READ MORE

3:03 PM

Stock Market LIVE: Sensex up 300 pts, Nifty atop 21,200; HDFC Bk, RIL, SBI lead

Source: Investing.com

2:50 PM

Nov retail inflation rises 7.37% for farm workers, 7% for rural labourers

The benchmark for rural labourers increased 1 to 10 points in 11 states, climbed 11 to 20 points in five states and jumped more than 20 points in three states. READ MORE

2:38 PM

SBI to sign 200 mn euro LoC with EIB to support climate action projects

State Bank of India (SBI) on Thursday said it will sign a 200 million euro (about Rs 1,800 crore) Line of Credit (LoC) with the European Investment Bank (EIB) for supporting climate action projects in the country. READ MORE

2:25 PM

Global Check:: Asian markets end on a mixed note

Source: Yahoo Finance

2:12 PM

ALERT:: Royal Orchid Hotels opens new resort at Mahad; stock down 1%

Royal Orchid Hotels today announced opening of the 'Regenta Resort Sakleshpura: Jewel in the Westernm Ghats' at Mahad.

 

Regenta Resort Sakleshpura boasts 41 eclectic laterite, wooden, and green cottages, offering panoramic views of blue skies and verdant plantations, promising guests a unique holiday experience immersed in the fragrances of coffee and spices, the company said in an exchange filing.

1:58 PM

PE inflow in real estate declines 44% to $3 bn so far in 2023: Knight Frank

However, PE investments from Singapore have improved significantly, contributing more than 50 per cent to the total inflow. READ MORE

1:43 PM

ALERT:: Airtel inks pact to power-up 20 mn smart meters; stock up 0.5%

Bharti Airtel today announced its foray into high end applications such as Advance metering infrastructure and meter data management systems along with Cloud and Analytics. 

 

The company in an exchange filing said it has formed a strategic partnership to power up to 20 million smart meters with IntelliSmart Infrastructure Private

Limited. 

1:29 PM

ALERT:: Venus Remedies wins marketing rights for Docetaxel in Israel; stock soars 5%

Venus Remedies in an exchange filing said the company has secured marketing authorisations for three variants of Docetaxel in Israel and Cytarabjne 100MG in Colombia. 

1:12 PM

Analysts bet on IndiGo, SpiceJet on sustained pax growth, low oil prices

Airline stocks have been soaring high as a steep decline in crude oil price, along with steady passenger traffic, has turned analysts positive on InterGlobe Aviation and SpiceJet. READ MORE

12:57 PM

Market Check: Sensex jumps 900 pts from day's low of 69,920

12:49 PM

Tata Motors expects best sales in 2024 on back of fresh portfolio

Tata Motors expects 2024 will be its best year for sales, said the automaker's managing director Shailesh Chandra in a report by the Economic Times (ET). India's third-largest passenger vehicle maker is optimistic on the back of upcoming launches in both electric and conventional powertrains. Read

12:31 PM

Lokesh Machines soars 14% on healthy outlook; up 264% so far in 2023

Shares of Lokesh Machines (LML) surged 14 per cent on Thursday to a fresh high of Rs 383.50 on the BSE on the back of a healthy outlook. So far in calendar year 2023, the stock has zoomed 264 per cent as compared to a 15.3 per cent rise in the BSE Sensex. Read

12:16 PM

Suzlon Energy soars 4% on winning wind power project of 193 MW

Suzlon secures a 193.2 MW of wind power project from The KP Group in Gujarat.

To supply 92 wind turbines with a rated capacity of 2.1 MW each. 

11:57 AM

Ashok Leyland wins order to supply 552 buses to Tamil Nadu transport corpn

Ashok Leyland, the country’s leading commercial vehicle manufacturer, said on Thursday it has won an order from the Tamil Nadu government for providing 552 Ultra-Low Entry (ULE) diesel non-AC buses.
 

Ashok Leyland, the Indian flagship company of the Hinduja Group, said the Tamil Nadu State Transport Corporation (TNSTC) already operates 18,477 of its buses. The new order marks a "groundbreaking collaboration" between Ashok Leyland and TNSTC in the pursuit of 'Mobility for All', the state government's commitment to promote public transportation, said a press statement. Read

11:42 AM

Piramal Enterprises to adjust Rs 3,164 cr exposure to AIF in its financials

In line with Reserve Bank of India (RBI) directives, Piramal Enterprises has decided to adjust Rs 3,164 crore worth of exposure in Alternative Investment Funds (AIFs) in its financial statements through capital funds or provisions. Read

11:29 AM

Nifty, MidCap, SmallCap: Should you buy the dip? Here's what charts say

The NSE Nifty50 index tanked as much as 2.9 per cent from its new summit at 21,593 hit on Wednesday, to a low of 20,977 this morning. Prior to this, the Nifty had rallied over 14 per cent in the last two months. Hence, some profit-taking following the smart gains seemed warranted. Read

11:16 AM

Stock of this wind energy solutions provider has zoomed 108% in 7 weeks

Shares of Inox Wind (IWL) surged 5 per cent to Rs 444.20 on the BSE in Thursday’s intra-day trade, extending its past one and half month rally amid hopes of improvement in its operating performance.  
 

In the past seven weeks, the market price of IWL has more than doubled or zoomed 108 per cent from a level of Rs 213.70 on November 2. Read

10:59 AM

VIEW: Use market dip to buy large caps

At high valuations, the market is vulnerable to sharp corrections and this happened yesterday. Two trends are important: one, the correction in mid and small caps is almost double the correction in large caps;

two, DIIs turned big buyers towards the end of the trading day. The vulnerability of the mid and small caps to correction remains since the valuations are excessive.

Large caps will witness buying on declines. Investors can wait for the market to stabilise and buy high quality large cap stocks on declines. 

Views by V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

10:46 AM

Fresh Covid scare: India records 358 new cases, active caseload rises to 2,669

India recorded a single-day rise of 358 new Covid-19 infections while the active caseload rose to 2,669, according to Union health ministry data updated on Thursday. The surge in cases comes amid a rise in Covid sub-variant JN.1, which was first detected in Kerala. Read

10:30 AM

INOX India makes bumper debut; lists at 44% premium over issue price

INOX India (INOX), the largest domestic supplier of cryogenic equipment, made a strong stock market debut on Thursday with its shares listing at Rs 949.65 on the NSE, a premium over 44 per cent over the issue price of Rs 660. Read

10:15 AM

Indian Bank extends slide to 2nd day; slips 8% after listing of QIP shares

Shares of Indian Bank slipped 8 per cent to Rs 393.55 on the BSE in Thursday’s intra-day trade after 101.5 million equity shares of the company, allotted to qualified institutional buyers (QIBs), got listed on the stock exchanges today. Read