Sensex rises 284 pts, Nifty tops 16,600; IndusInd jumps 8%, Bajaj Fin 3%
CLOSING BELL: Among sectors, the Nifty PSB index rose 1.56 per cent, while the Nifty Pharma slipped 0.4 per cent
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CLOSING BELL
Stock market highlights: Equity markets exhibited wild moves on the day of the weekly F&O expiry amid mixed global mood, and weak oil prices. The S&P BSE Sensex oscilatted in a band of 468 points, before ending at 55,682, up 284 points or 0.5 per cent.
Stock market highlights: Equity markets exhibited wild moves on the day of the weekly F&O expiry amid mixed global mood, and weak oil prices. The S&P BSE Sensex oscilatted in a band of 468 points, before ending at 55,682, up 284 points or 0.5 per cent.
The Nifty50, meanwhile, closed at 16,610, up 89 points or 0.54 per cent. It hit a high of 16,625, and a low of 16,484 during the day.
ALSO READ: Sensex at 85,000; Nifty at 25,000 by 2024? It's very much possible
IndusInd Bank, L&T, Bajaj Finance, Tata Consumer Products, UPL, L&T, Bajaj Finserv, Asian Paints, Hindalco, and BPCL rose between 2 per cent and 8 per cent. Moreover, Tech M, Grasim, Divis Labs, Axis Bank, Adani Ports, Hindalco, Infosys, Bajaj Auto, and Power Grid added up to 2 per cent.
On the downside, Kotak Bank, Dr Reddy's Labs, SBI Life, Cipla, and Reliance Industries fell the most, down up to 2 per cent.
The broader markets, however, outran the frontline indices with the BSE MidCap and SmallCap indices climbing up to 1.3 per cent. Tata Communications, ABB, Cummins India, BHEL, Hindustan Foods, and Aegis Logistics were the lead runners.
ALSO READ: Mid-cap banks roar as Nifty Bank fires above 36,000
ALSO READ: Mid-cap banks roar as Nifty Bank fires above 36,000
Among sectors, the Nifty PSB index rose 1.56 per cent, while the Nifty Pharma slipped 0.4 per cent.
Global cues
European stocks fell on Thursday as the region's investors awaited the European Central Bank's latest monetary policy decision. The FTSE index dropped 0.6 per cent, while the European STOXX 600 dipped 0.14 per cent.
Early indication on Wall Street, too, suggested a tepid start. Futures linked to the three main US stock indices were down in the range of 0.15 per cent to 0.3 per cent.
4:03 PM
Views by Rupak De, Senior Technical Analyst at LKP Securities.
Nifty tech view: Trend may remain positive as long as index holds above 16,500
The benchmark Nifty found resistance at the upper band of the rising channel, leading to brief profit-taking during the day.
The momentum indicator has its upside up indicating ongoing positive momentum in the value.
The trend is likely to remain positive as long as the Nifty remains above 16,500. On the higher end, immediate resistance is placed at 16,670-16,700.
The momentum indicator has its upside up indicating ongoing positive momentum in the value.
The trend is likely to remain positive as long as the Nifty remains above 16,500. On the higher end, immediate resistance is placed at 16,670-16,700.
Views by Rupak De, Senior Technical Analyst at LKP Securities.
4:01 PM
Views by Vinod Nair, Head of Research at Geojit Financial Services.
Closing view: FII buying eased global pressure on domestic markets
With support from FII buying, the domestic market was able to withstand the downward pressure from global markets to close on a positive note.
Global indices traded lower on rate hike worries as ECB in its meeting today, is expected to raise rates by 50bps, while the Fed is expected to increase rates by 75 bps in upcoming meeting scheduled next week.
Even though a rate hike of this magnitude has already been factored in, the major market driver would be their commentary on future inflation and growth forecasts.
Global indices traded lower on rate hike worries as ECB in its meeting today, is expected to raise rates by 50bps, while the Fed is expected to increase rates by 75 bps in upcoming meeting scheduled next week.
Even though a rate hike of this magnitude has already been factored in, the major market driver would be their commentary on future inflation and growth forecasts.
Views by Vinod Nair, Head of Research at Geojit Financial Services.
3:58 PM
Rupee ends at 79.95/$ vs previous close of 79.99/$
3:57 PM
Orient Bell tanks over 10%; Q1 revenue comes at Rs 155 crores
3:53 PM
Metropolis Health gains 3% on report co may call off search for strategic investor
3:51 PM
Hitachi Energy slips 2%; reports Rs 1.3 crore Q1 PAT vs Rs 16.3 cr last year
3:48 PM
Valiant Organics soars 4% as company restores ops at Valsad plant
3:45 PM
PSBs, Oil & Gas, Media indices lead sectoral winners; Pharma weak
3:41 PM
Gains spread across broader markets; Midcaps outshine
3:40 PM
Nifty losers: Dr Reddy's, Cipla, Kotak Bank, SBI, RIL top 5 drags
3:38 PM
Nifty gainers: Tata Consumer, UPL additional winners
3:37 PM
Sensex Heatmap: IndusInd Bank, Bajaj twins lead upmove
3:35 PM
Closing Bell: Nifty ends above 16,600; only 8 stocks decline
3:34 PM
Closing Bell: Sensex manages to log gains in choppy session; rises 284 pts
3:27 PM
Hyundai sells 1.88 mn vehicles in first six months, Q2 profit jumps 56%
Hyundai Motor said on Thursday that its second-quarter net profit jumped 56 per cent from a year earlier on improved product mix and a weak won. Read here
Topics : Sensex MARKET LIVE MARKET WRAP stocks to watch Buzzing stocks Nifty Q1 results PVR Hindustan Zinc JSW Energy sbi Adani Enterprises BSE NSE Indian equity market Market trends Midcap smallcap stocks Crude Oil Price ECB meeting Global Markets Rupee vs dollar
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First Published: Jul 21 2022 | 8:10 AM IST