Sensex soars 759 pts, ends atop 73,300; Nifty nears 22,100; Wipro zooms 6%

Closing Bell on January 15, 2024: Shares of Wipro surged 14 per cent intraday, before closing 6 per cent higher, as the company beat profit estimates in its third quarter results (Q3FY24)

3:47 PM

Tech View :: 'Markets are watching the upcoming HDFC Bank results'

The Bank Nifty bulls maintained control as the index successfully surpassed the critical resistance of 48,000 on a closing basis. Market participants are closely watching the upcoming HDFC Bank results, as a positive outcome could fuel additional upside towards the 50,000 mark. The lower end support for the index is positioned at 47,700, and a breach below this level may dampen the prevailing bullish sentiment.

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

3:45 PM

Tech View :: 'Sustaining above 22,200 will drive Nifty towards 22,500'

The Nifty bulls maintained their momentum, propelling the index to new highs beyond the 22,000 mark. The major support for the index is situated at the 21,800 level, and a breach below this would be essential to negate the prevailing trend. The next immediate upside targets for the index are positioned at 22,200/22,300 levels. Sustaining above these levels could potentially lead the index towards the 22,500 mark.

Views by: Kunal Shah, Senior Technical & Derivative Analyst, LKP Securities. 

3:44 PM

Comment 'Investors to make measured moves this week'

The market gained momentum, led by the uptick in the IT index with the growing optimism about increased discretionary spending and strong deal wins.

The US bond yield edged lower as market participants bet on the FED easing cycle, which is expected to start in March. Investors are likely to take a more measured approach due to the release of Chinese GDP and UK inflation data this week.

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

3:42 PM

Currency check :: Rupee ends 4 paise stronger

3:41 PM

SmallCap Heatmap :: Index underperforms, settles just 0.11% up

3:40 PM

MidCap Heatmap :: Index swings between zones intraday, ends 0.67% higher

3:38 PM

Nifty Heatmap :: IT shares, ONGC top gainers; HDFC Life, Bajaj Finserv Adani weak

3:37 PM

Closing Bell :: Nifty closes near 22,100

3:36 PM

Closing Bell :: Sensex leaps nearly 800 pts intraday, ends at record closing high

3:29 PM

Sebi introduces guidelines for AIFs on holding investment in demat form

However, investments made before this date have been exempted except in cases where the investee company is legally required to facilitate dematerialisation or when the AIF, alone or with other Sebi registered entities, has control over the investee company. READ MORE

3:19 PM

90% of Indian biz leaders planning to invest more in AI, Gen AI: Capgemini

In 2024, 82 per cent of Indian business leaders plan to increase their investment in digital tools and technologies. Among them, 90 per cent intend to invest more in AI and generative AI, 92 per cent in cloud technologies, 73 per cent in cybersecurity, and 71 per cent in digital twins and immersive technologies for industrial applications. READ MORE

3:06 PM

India ETF flows hit record in 2023, analysts see momentum persisting

Investors are looking at India to diversify their emerging markets portfolio amid worries about economic growth in China and Sino-US tensions, analysts said. READ MORE

2:57 PM

Global check:: US, UK stock futures indicated tepid trade

Source: Yahoo Finance

2:50 PM

HDFC Bank Q3 preview: In a steady quarter, analysts expect NIM to expand

India's largest private sector bank, HDFC Bank, may see a flattish quarterly earnings performance in the December quarter as the lending behemoth manages merger synergies.  READ MORE

2:36 PM

ALERT:: Pidilite Industries inks pact with Italy-based Syn-Bios; stock up 1%

Pidilite Industries in an exchange filing today said the company has partnered with Italy-based Syn-Bios, known for R&D and global marketing in the leather tanning industry.

 

In this collaboration, Pidilite will handle sales and distribution of Syn-Bios products in India, Sri Lanka, Bangladesh, Nepal, and Vietnam. Both companies will also engage in technical collaboration to offer comprehensive solutions for the Leather Industry, the release added.

2:24 PM

Stock of this smallcap iron & steel company has zoomed over 340% in 10 mths

Shares of Man Industries (India) hit a record high of Rs 378.50 as they rallied 12% after the company received new orders of approximately Rs 400 crore. READ MORE

2:10 PM

Global economic slowdown headed for worst phase in three decades: WEF study

The report called for a new approach to economic growth that balances efficiency with long-term sustainability and equity, examining speed, and quality together. READ MORE

1:56 PM

Bitcoin's ETF hangover saddles token with its worst streak in a month

The batch of almost a dozen ETFs, including from investment titans BlackRock Inc. and Fidelity Investments, began trading on Jan 11. READ MORE

1:41 PM

ALERT:: Manorama Industries board okays 1:5 share split; stock sheds 4%

The board of directors of Manorama Industries today approved sub-division/ split of the equity shares of the company with face value of Rs 10 each into 5 equity shares with face value of Rs 2 each; i.e. stock split in the 1:5 ratio.

1:28 PM

This railways related stock surpassed Tata Steel, Jio Fin, VBL in m-cap

With market cap of Rs 1.74 trillion, IRFC stood at 41st position in overall market cap ranking, the BSE data shows. READ MORE

 

1:12 PM

WPI-based inflation increases to 0.73% in December on rise in food prices

Positive rate of inflation in December, 2023 was primarily due to an increase in prices of food articles, machinery & equipment, other manufacturing, other transport equipment. READ MORE

12:58 PM

ONGC hits 7-year high; jumps 9% in 2 days on discovering major gas reserves

Earlier, on January 1, 2024, ONGC had announced the successful commencement of “First Oil” production from the deep-water KG-DWN-98/2 Block, situated off the coast of Bay of Bengal. READ MORE

12:46 PM

India second-largest recipient of foreign flows in 2023 after US

"Again, almost all inflows continue to move into large-cap funds. Most incremental flows since Dec’23 into India have been from US-domiciled funds. Foreign flows into China have remained weak in CY2023 with big redemptions beginning in the second half. A big portion of this liquidity has moved to India. In CY23, the NAV of India has risen by 21 per cent while China is down 16 per cent," said Sunil Jain of Elara Capital. READ MORE

12:29 PM

Infy, TCS, Wipro, HCLT: Chart suggests up to 14% upside as stocks breakout

Infosys

Resistance: Rs 1,740; Rs 1,880
 

Infosys is also seen trading firmly above the higher-end of the Bollinger Bands on the daily scale. The key momentum oscillators like the 14-day RSI (Relative Strength Index), MACD (Moving Average Convergence-Divergence) and Stochastic Slow are all in favour of the bulls. READ MORE

12:15 PM

Tata Consumer Products plans Rs 3,500 cr rights issue for acquisitions

The acquisition of Capital Foods was announced last week. Ching's Secret and Smith & Jones hold an enterprise valuation of Rs 5,100 crore, and Organic India has an enterprise value of Rs 1,900 crore. The Tata Group's FMCG arm is expected to fund half of these deals through internal accruals. READ MORE

12:05 PM

ALERT :: December WPI Inflation inches up to 0.73% vs 0.26% MoM

 

12:00 PM

ALERT :: Titagarh Wagons launches first indigenous 25T Bollard Pull Tug for Indian Navy

>> Their primary functons involve assistng naval vessels, including ships and submarines, in berthing, unberthing, and maneuvering.

11:45 AM

Market Check :: Sensex firmly holds 73,000-mark

11:30 AM

Nifty IT near 2-year high; up 9% in 2 days post solid Q3 show by majors

HCL Technologies, on the other hand, surged 5 per cent to Rs 1,619.60 after the company's revenue for the quarter grew 6.5 per cent year-on-year to Rs 28,446 crore, and 6.7 per cent on a quarter-on-quarter basis. This is one of the highest revenue growths since Q3FY21. It reported a net profit of Rs 4,350 crore, up 6.2 per cent year-on-year, and 13.5 per cent sequentially. READ MORE

11:14 AM

ALERT :: Fiem Ind approves bonus issue in 1:1 ratio

>> February 28, 2024 has been fixed as 'Record Date'