Sensex climbs 179 pts in fag-end, Nifty tops 18,300; auto, bank stocks lead

CLOSING BELL: The fag-end rally was powered by IndusInd Bank, Bajaj Finance, Tata Motors, Reliance Industries, HDFC Bank, Maruti Suzuki, and Bajaj Finserv

4:33 PM

COMMENT:: Global investors exercised caution ahead of key US data

The domestic market traded near the flatline, oscillating between gains and losses as investors refrained from taking a firm direction due to the uncertainties surrounding the US market. Globally, investors exercised caution in anticipation of US inflation data and a meeting between US political leaders to discuss fiscal concerns. Oil prices edged lower as industry data revealed a surprise surge in US crude stock, indicating a potential weakness in demand.

 

- Vinod Nair, Head of Research at Geojit Financial Services

 

4:32 PM

Above 43,500; Bank Nifty can rally to 44,000 level

Bank Nifty witnessed a strong recovery by the bulls after a weak start. The support level at 43,000 demonstrated a strong demand zone. Currently, there is immediate resistance at 43,500, and surpassing this level would clear the way for further gains toward 44,000. Market participants are keeping a close eye on the upcoming US CPI inflation data, and positive comments by the Federal Reserve Chairman have the potential to restore momentum in the market.

 

- Kunal Shah, Senior Technical Analyst at LKP Securities
 

4:25 PM

India is back with a bang on FIIs mind: Sumit Jain, ASK Investment Managers

Nifty 12-month forward PE is around 23 per cent below peak. Sumit expects Indian equities to find support owing to robust earnings outlook and strength in the domestic economy. READ MORE

4:24 PM

Aarti Industries slumps 9% as analysts turn cautious on stock post weak Q4

Ebitda margin slipped to 13.7 per cent (down 200bps YoY) on account of higher than expected staff cost and other expenses. READ MORE

4:22 PM

IndusInd Bank advances 3% on UBS upgrade; notches 9% gain in last 3 sessions

IndusInd Bank is likely to get added to the MSCI India Index during the rebalancing exercise in August following a sharp increase in the investment legroom for foreign portfolio investors (FPIs). READ MORE

4:19 PM

Tata Motors hits 52-week high ahead of Q4 results; soars 32% so far in CY23

Brokerage firms are expecting a strong recovery in Tata Motor's financials as supply-side issues are relaxing (for JLR) and commodity headwinds are easing (for PV and CV). READ MORE

4:17 PM

Royal Orchid Hotels hits new high; stock zooms 50% in 5 weeks

Nuvama Wealth and Investment remains confident of ROHL's ability to deliver a superior performance on favourable industry dynamics and elaborate expansion plans. READ MORE

4:15 PM

SCI soars 5% on near 3-fold jump in Q4 net

The shipping major reported a 183.9 per cent jump in Q4FY23 net profit to Rs 359.83 crore when compared with Rs 126.74 crore in Q4FY22. READ MORE

4:12 PM

Oil & gas shares fire up: BPCL, Indian Oil, ONGC hit 52-week highs

In Q4FY23, OMCs will record 60-120 per cent QoQ Ebitda growth on the back of steady refining, auto-fuel margin recovery, and marginal LPG under-recovery. READ MORE

4:09 PM

Varun Beverages joins Rs 1 trillion market cap club; zooms 108% in 11 mths

With a market cap of Rs 1.04 trillion, VBL claimed the 48th spot in the overall market cap ranking, the BSE data shows. READ MORE

4:07 PM

Latent View Analytics slumps 10% despite record revenue in FY23; check why

During the March quarter of FY23, Latent View's operating profit fell 3 pe cent QoQ to Rs 141.1 crore, while Ebitda margin shrank to 21.4 per cent from 29.5 per cent. READ MORE

4:04 PM

Capacite Infra surges 21% in three days on winning Rs 224 cr Raymond order

Last month, the company had received order worth Rs 478.08 crore from Godrej Residency for construction of residential towers in Mumbai. READ MORE

4:01 PM

Market Breadth was marginally positive; 120 stocks hit 52-week high

3:57 PM

BSE Smallcap Heatmap:: EPL, TV18 Broadcast zoom up to 11%; Latent View tanks 10%

3:55 PM

BSE Midcap Heatmap:: VBL, Godrej Inds shine; Aarti Industries slumps 9%

3:52 PM

Nifty PSU Bank index extends losses; PNB, Indian Bank, Union Bank drop over 2%

3:50 PM

Nifty 50 outsmarts broader indices in trade today

3:45 PM

Nifty 50 Losers:: UPL slips 2%; Dr.Reddy's was the other prominent loser

3:40 PM

Nifty 50 Gainers:: IndusInd Bank gains 2.8%; HDFC Life, PowerGrid advance up to 2%

3:37 PM

Sensex 30 Heatmap:: 21 Gainers v/s 9 Losers

3:35 PM

CLOSING BELL:: NSE Nifty50 settles 49 pts higher at 18,315

3:33 PM

CLOSING BELL:: S&P BSE Sensex adds 179 pts, ends at 61,940

3:21 PM

Global Check:: US, UK stock futures marginally in red ahead of US CPI data

Source: Investing.com

3:13 PM

India on path to be 3rd largest economy: MSME Min urges industry to invest

The minister further said that immense business opportunities are available in various sectors in India and promised full support to investors looking to invest in the country. READ MORE

3:01 PM

Earnings Alert:: Escorts Kubota Q4 net jumps 14%; stock down 1%

Escorts Kubota Q4FY23 net profit rose almost 14 per cent to Rs 216.46 crore as against Rs 189.98 crore in Q4FY22. Total income increased 18 per cent YoY to Rs 2,290.16 crore.

2:50 PM

Earnings Alert:: JBM Auto Q4 net tumbles 67%; stock cracks 8%

JBM Auto's Q4 net profit tumbled 66.9 per cent to Rs 28.41 crore for the the quarter ended March 2023 as against Rs 85.83 crore in Q4FY22. Total income declined 6 per cent YoY to Rs 1,012.75 crore.

2:38 PM

Oil & Gas shares fire up: BPCL, Indian Oil, ONGC hit 52-week highs

In Q4FY23, OMCs will record 60-120 per cent QoQ Ebitda growth on the back of steady refining, auto-fuel margin recovery, and marginal LPG under-recovery. READ MORE

2:27 PM

Fitch says outlook for Tata Steel positive, stable for JSW Steel

Rating agency Fitch Ratings has affirmed Tata Steel's (TSL) Issuer Default Rating (IDR) at 'BB+' with a positive outlook. It also affirmed JSW Steel's (JSWS) long-term IDR at 'BB' with a stable outlook. READ MORE

2:13 PM

Earnings Alert:: BASF India Q4 net plunges 45%; stock cracks 5.5%

BASF India reported a sharp 45 per cent drop in Q4 net profit at Rs 82.39 crore for the quarter ended March 2023 when compared with Rs 149.85 crore in the corresponding quarter a year ago. Total income was down 3.3 per cent YoY at Rs 3,289.05 crore.

2:01 PM

ED searches may tarnish Manappuram's business prospects: Fitch report

The Enforcement Directorate’s searches at Manappuram Finance Ltd (Manappuram) could hurt the gold loan company’s reputation and endanger its business prospects, according to rating agency Fitch. READ MORE