Business Standard

Sensex gyrates 1,027 pts, ends 257 pts up; Nifty holds 17,550; M&M gains 4%

CLOSING BELL: RIL, ICICI Bank, M&M, SBI, Bajaj twins, and Titan were the stocks that supported the indices

Image SI Reporter New Delhi
Sensex gyrates 1,027 pts, ends 257 pts up; Nifty holds 17,550; M&M gains 4%


Stock market highlights: 
Equity markets oscillated between gains and losses on Tuesday as investors read global mood for further cues. The 30-pack S&P BSE Sensex gyrated 1,027 points during the day before settling at 59,031, up 257 points or 0.44 per cent. The NSE Nifty50, too, closed at 17,578, up 87 points or 0.5 per cent. It hit a high of 17,626 and a low of 17,345 during the day.

RIL, ICICI Bank, M&M, SBI, Kotak Bank, Bajaj twins, Bharti Airtel, and Titan were the stocks that supported the indices. They rallied between 1.4 per cent and 4 per cent. On the flipside, the stocks that put pressure on the indices were Infosys, TCS, HDFC Bank, HUL, and HDFC.

In the broader market, the BSE MidCap and SmallCap indices added 1 per cent and 0.78 per cent, respectively. Among sectoral indices, the Nifty PSU Bank index gained 2.34 per cent, while the Nifty IT index fell by same percentage. 

3:57 PM

Expert view: Fear of uncertainty visible as market exhibits high volatility

"Fear of uncertainty is visible in the market as they move with high volatility, led by weak signals from global peers, while a stronger domestic economy is providing some comfort. Global markets were under pressure with a spike in European energy prices and rate hike fears ahead of the Jackson Hole gathering. On the domestic front, gains in banks, autos and metals were countered by selling in IT stocks as majors are scaling down variable pay due to margin pressure."   
- Vinod Nair, Head of Research at Geojit Financial Services
3:57 PM

Nifty tech view: Trend may remain positive as long as the index holds 17,400

"The Nifty ended the day with a significant green candle that pierced through the body of the previous bear candle on the daily chart. On the lower end, the Nifty found support at a near-term moving average. Going ahead, the trend may remain positive as long as the index holds above 17,400 on a sustained basis. On the higher end, 17,700 may act as immediate resistance; a decisive move above 17,700 may induce a rally towards the recent high of 18,000."
- Rupak De, Senior Technical Analyst at LKP Securities
3:57 PM

Deepak Fertilisers gains 5%, hits new 52-week high

The stock has zoomed 50 per cent in the last four weeks on strong demand outlook. The company expects their market leadership in key product segments and strong demand outlook to drive business growth and profitability. READ MORE


3:54 PM

Devyani International shed 5% after over 2% equity traded via block deals

At 09:15 am; around 28.95 million equity shares representing 2.4 per cent of the total equity of Devyani International changed hands on the BSE, the exchange data shows. The names of the buyers and sellers were not ascertained immediately. READ MORE


3:53 PM

GE Shipping hits over 14-year high, stock zooms 83% thus far in 2022

Shares of Great Eastern (GE) Shipping Company hit an over 14-year high at Rs 554  owing to healthy earnings and strong outlook. The stock has zoomed 83 per cent so far this year. READ MORE


3:51 PM

Astra Microwave jumps 4%; stock up 66% in the last two months

The company sees opportunities from various programs planned by the government through Defense Research labs (DRDO) and from the Make-II opportunities from Ministry of Defence (MoD). 


3:49 PM

Eicher Motors gains 3%, hits new high; market cap nears Rs 1 trillion

Shares of Eicher Motors hit a new high at Rs 3,480. In the past two weeks, the stock has rallied 12 per cent after the company reported a strong set of earnings for the June quarter (Q1FY23). READ MORE


3:45 PM

Bank Nifty view: Bank Nifty remains in 'Buy on Dip' mode

"The Bank Nifty index witnessed a sharp recovery from the lower level and formed a strong bullish reversal candle. The index downside support stands at the 37,700-38,000 zone and as long as this support is held the index remains in a buy on dip mode. The immediate upside hurdle stands at 39,000 where call writers are active and once surpassed will see further short covering."
- Kunal Shah, Senior Technical Analyst at LKP Securities 
3:44 PM

Sectorally, Nifty PSU Bank, Auto and Metal indices gain the most; IT index slips nearly 2%


3:43 PM

Broader indices outperform benchmark Nifty 50, gain over a per cent each


3:39 PM

Sensex 30 Heatmap:: M&M, Bajaj Finserv rally; Infosys, TCS fall


3:37 PM

Nifty 50:: Top FIVE gainers and losers on Tuesday


3:36 PM

NSE Nifty 50 settled at 17,578, added 87 points


3:34 PM

Closing Bell:: S&P BSE Sensex ends 257 points higher at 59,031


3:26 PM

BSE 500:: Volume Shockers

Devyani International has witnessed unusually high volume of around 35.32 million shares on the BSE so far as against its five-day average volume of around 0.5 million shares. Similarly, Kalyan Jewellers, Quess Corp, Indigo Paints and MAS Financial Services witnessed a significant spike in volume on Tuesday. VIEW MORE


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First Published: Aug 23 2022 | 8:10 AM IST

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