Sensex rises 235 pts, Nifty tops 17,800 in fag-end; Divis Labs zooms 10%

CLOSING BELL: Among sectors, the Nifty Pharma index leaped over 2 per cent today as India saw over 7,000 fresh cases of Covid-19

4:07 PM

TECHNICAL OUTLOOK: Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas

The Nifty continued with positive momentum and closed with gains for the eighth consecutive trading session. On the daily chart we can observe that the Nifty have been stretching higher along the daily upper Bollinger band, which is now expanding, and this should be considered as a positive sign. The upmove in the front-line index has also been accompanied by participation in the broader market, which is also a sign of change in sentiment. The Nifty is currently trading above the 20-week moving average (17,789) and tomorrow if it manages to close above this level then it will further add to the bullishness. The best strategy to trade such an upmove is to hold on to the long positions with a trailing stoploss mechanism. For current long positions one can keep it at 17,700, which is around today’s low. As the short-term target of 17,800 has been achieved we have raised it to 18,000.
 

4:04 PM

MARKET COMMENT: Vinod Nair, Head of Research at Geojit Financial Services.

The domestic market exhibited cautiousness in anticipation of the release of various economic data and the upcoming Q4 earnings season. The IT sector drove the optimism in the market as investors await the earnings releases of sector majors. Despite expectations of a cooling down of CPI inflation to below the RBI's upper tolerance level, the persistence of sticky core inflation remains a concern.

4:00 PM

Over 2,000 stocks advanced on BSE, while 1,436 declined

3:55 PM

Nifty Pharma index best sectoral performer

3:50 PM

Broader indices outperform benchmark; India VIX climbs 2%

3:45 PM

Power Grid, NTPC, Nestle India top Nifty50 laggards

3:41 PM

Divi's Lab, Bajaj Auto, Adani Enterprises top Nifty50 leaders

3:38 PM

SENSEX HEATMAP | 17 out of 30 counters close in green

3:34 PM

CLOSING BELL | Nifty50 closes above 17,800 levels, up 90 pts

3:32 PM

CLOSING BELL | Sensex extends winning streak to eighth day, up 200 pts

3:25 PM

RBI to extend rate pause through year-end, likely done hiking: Poll

The Reserve Bank of India will likely keep interest rates unchanged at least until the end of this fiscal year, a Reuters poll of economists showed. READ MORE

3:17 PM

Buzzing stock :: De Nora India soars over 9% as ace investor Mukul Agarwal picks stake

>> Agarwal picked 1.4% stake in Q4

3:15 PM

Energy stocks beaten: Power Grid, NTPC decline over 1%

3:06 PM

Concor's Q4FY23 volumes rise over 4% YoY; stock up 1%

2:48 PM

Nestle India, Power Grid, NTPC top Nifty50 losers at this hour

2:30 PM

ICRA retains 'stable' outlook for Royal Orchid's long-term facilities

2:27 PM

MRF second strongest tyre brand in the world: Brand Finance report

The report, which also names MRF as the most valued Indian tyre brand, says that it scored high in the Sustainability Perception Value and is the only Indian tyre manufacturer to be featured in the top 10.
 

Brand Finance’s annual report on the most valuable and strongest automobile, auto component, tyre and mobility 2023 analyses the value of brands in these industries. READ MORE

2:15 PM

TCS Q4 Preview: Revenue may rise up to 18% YoY; EBIT margin seen at 25%

Brokerages expect TCS deal wins to be strong in a broad range of $7-10 billion in Q4, while hiring is likely to be muted. READ MORE

2:06 PM

PSU Banks bleed in an upbeat market

1:46 PM

Stock of this railway wagons maker has zoomed 1,412% from March 2020 lows

Titagarh Wagons hit a new high of Rs 310, surging 8% today, after its consortium with BHEL bagged an order worth Rs 9,600 crore to supply 80 sleeper class Vande Bharat trains. READ MORE

1:34 PM

Nifty Pharma rises over 2%, led by gains in Divi's Lab, Laurus Labs

1:19 PM

Government incentives to drive EV penetration in India, says Moody's

The government aims to have EV sales accounting for 30 per cent of private cars, 70 per cent for commercial vehicles and 80 per cent for two-and three-wheelers by 2030. READ MORE

1:02 PM

Rupee edges up as dollar softens ahead of US inflation data, Fed minutes

The rupee was trading at 82.0750 per dollar by 10:44 a.m. IST compared with 82.1250 in the previous session. READ MORE

12:49 PM

National Fertilisers soars 9% to hit 52-week high on hopes of strong Q4FY23

The average trading volumes on the counter jumped nearly 10-fold, as around 14.35 million equity shares, which represented 3 per cent of total equity of NFL changed hands on the NSE and BSE so far. READ MORE

12:39 PM

Share of NRIs, overseas investors in mutual fund assets declining

Accounted for a larger share in the years leading up to Covid-19. READ MORE

12:32 PM

ALERT :: UBS is considering retaining Credit Suisse's private banking unit in India

12:23 PM

ITC, Nestle India: Fresh breakouts to assist FMCG index reach historic peak

Shares of ITC hit a new all-time high, steering robust sentiment for Godrej Consumer Products and Varun Beverages, which are on the verge of claiming their respective uncharted territories. READ MORE

12:10 PM

Bajaj Auto rallies 12% in 8 trading days; stock nears record high

Analysts at Emkay Global Financial Services believe Bajaj Auto's Ebitda margin may expand 196 bps YoY in Q4FY23 due to price hikes, better mix and rupee depreciation. READ MORE

11:50 AM

Sugar shares surge amid rising prices; Balrampur, Dwarikesh rally up to 6%

Sugar prices in India have also climbed more than 6 per cent in the past two weeks. READ MORE

 

11:37 AM

Infosys Q4 Preview: Profit may weaken sequentially; FY24 guidance eyed

The quantum of deal pipeline, nature of large deals, pace of decision-making and drivers of consolidation trend will also be closely tracked. READ MORE