Sensex adds 134 pts; Mindtree jumps 8%, Wipro adds 7%, realty stocks slip
In the primary market, the Rs 9,300-crore initial public offer (IPO) of Zomato was subscribed 57 per cent till 3:30 PM on the first day of the issue
 "MARKET LIVE: Sensex up 150 pts; Zomato IPO's retail quota sails through")
Stock market updates: Domestic stock markets bucked the weak global trend and ended with modest gains on Wednesday as investors were quick to purchase information technology (IT) stocks after healthy June quarter results by Mindtree. The Nifty IT index was the best sectoral index today, up 3 per cent on the NSE.
Overall, the Nifty50 index ended 42 points, or 0.26 per cent, higher at 15,584 levels while the BSE barometer of 30 shares closed at 52,904, up 134 points or 0.25 per cent. In the broader market, the BSE MidCap and SmallCap indice added 0.21 per cent and 0.45 per cent, respectively.
Meanwhile in the primary market, the Rs 9,300-crore initial public offer (IPO) of Zomato was subscribed 57 per cent till 3:30 PM on the first day of the issue. The retail portion was subscribed 2.4x while QIB and NII portions were at 20 per cent and 9 per cent.
4:19 PM
MARKET CLOSING COMMENT :: Ajit Mishra, VP - Research, Religare Broking
The Indian markets opened on a flat note following subdued global cues. The IT index led the charge for the benchmark indices as it ended with gains of more than 2%. Further, recovery in the banking stocks in the second half led the Nifty to end higher by 0.3% at 15,854 levels. The broader markets too ended with decent gains of 0.2% each.
The markets would first react to Infosys numbers in early trade on Thursday. Apart from that, weekly derivatives expiry tomorrow would add to the volatility. Market participants would also keep a close watch on results from other IT majors like Wipro, L&T Tech and Tata Elxsi.
4:09 PM
TECH VIEW :: Ashis Biswas, Head of Technical Research at CapitalVia Global Research
The market witnessed some strong trends after breaching the level of 15800. While sustaining above 15800 is the key factor from a short-term perspective, maintaining above this level is important for the market to gain momentum and extend the rally to till15900-15950. the market observed the momentum indicators like RSI and MACD to stay positive and market breadth to improve, further strengthening the short-term bullish outlook.
3:48 PM
Vinod Nair, Head of Research at Geojit Financial Services on market action
Despite negative global signals, domestic indices trimmed its early losses and soared high supported by robust Q1FY22 result expectations on IT sector and favourable economic outcomes. WPI inflation eased to 12.07% for June against 12.94% in May owing to softening crude oil and food prices. Key economic data reported across major western markets shown spiked inflation, forcing global markets to stay sidelined. US inflation levels for June witnessed its highest jump since August 2008 to 5.4% while British inflation rose to 2.5%, both above the central bank inflation target.
3:47 PM
MARKET VIEW :: S Ranganathan, Head of Research at LKP Securities
Dalal Street Bulls looked spirited today on the back of positive global cues as US markets shrugged off early losses and 13-year high inflation data ahead of second-quarter earnings. Technology-led the rally today as some of the big IT companies prepare to roll out earnings starting today. Even as we saw profit booking in Afternoon Trade, the broader markets remained fairly vibrant as savvy investors were seen shopping across a host of B2C businesses.
3:45 PM
Steel Strips Wheel gains for 2nd day, surges 13%
3:44 PM
Tata Metaliks climbs 3% post June quarter results
3:42 PM
Infosys ends higher ahead of Q1 results
3:41 PM
Wipro rallies 7%; firm to post Q1 numbers on Thursday
>> Information technology (IT) major Wipro's net profit could jump 14-19 per cent year-on-year (YoY) during the quarter ended June 2021 (Q1FY22) on 17-19 per cent growth in topline. The revenue growth would be led by organic growth in the IT services business and the acquisition of Capco, analysts said.
3:40 PM
Advance-decline ratio marginally in favour of gainers
3:38 PM
BSE Smallcap index rises 0.26%
> The index had hit an all-time high of 26328.24 in early trade today
3:37 PM
BSE Midcap index gains 0.21%
> Here are the top gainers & losers from the index
3:35 PM
Sector Watch :: Nifty IT vaults 3%; Realty drops most
3:34 PM
Sensex heatmap at close
Top gainers: TechM, Infosys, L&T
Top losers: Maruti, HUL, Nestle
Top losers: Maruti, HUL, Nestle
3:33 PM
CLOSING BELL
Sensex extends gains for second day in a row, gains 134.32 points or 0.25% to settle at 52,904.05. Nifty50, meanwhile, ended the day at 15,853.95, up 41.60 points or 0.26%
3:25 PM
Ujjivan, Equitas promoter holdings to fall to zero post mergers with SFBs
Predictably, the share prices of Ujjivan Financial Services, and Equitas Holdings jumped 20 per cent each after the two entities received the nod to reverse merge with their small finance bank entities. When the central bank issued guidelines on SFBs, it had said the holding company structure could be allowed to merge back with the bank after five years, subject to regulatory approvals. READ MORE
Topics : MARKET LIVE Markets Zomato Infosys Markets Sensex Nifty SGX Nifty S&P BSE Sensex Nifty 50 Wall Street MARKET WRAP
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First Published: Jul 14 2021 | 7:56 AM IST
