Sensex ends at record closing, rises 211 pts; Nifty holds 18,550; RIL up 3%

CLOSING BELL: The S&P BSE Sensex hit a fresh life-time high at 62,701, and the Nifty 50 registered a fresh summit at 18,614 on Monday

Image SI Reporter New Delhi
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CLOSING BELL

STOCK MARKET HIGHLIGHTS: 
Following the footsteps of the S&P BSE Sensex, the NSE Nifty 50, too, vaulted to a new life-time high in trades on Monday. The NSE Nifty registered a summit at 18,614 led by strong gains in index heavyweight Reliance Industries. 

The NSE Nifty 50, however, pared some of its gains and ended at a record closing high of 18,563, up 50 points.

Meanwhile, the Sensex registered a fresh all-time high for the third straight trading session. The index hit a high of 62,701, and eventually settled 211 points higher at 62,505.

Among the Sensex 30 shares, Reliance Industries surged 3.4 per cent to Rs 2,706. The stock traded at its highest level since June 2022. READ MORE

That apart, Nestle India, Asian Paints, Bajaj Finserv, and ICICI Bank were the notable gainers among the Sensex 30 shares. On the flip side, Tata Steel, HDFC Bank, and Bharti Airtel slipped over a per cent each.
 
Primary Market Update: 

Dharmaj Crop Guard IPO sailed through on Day 1 of the offer period. The Rs 251.15 crore compromising of nearly 10.60 million shares was subscribed up to 1.21 times as of 03:40 PM. The retail investors portion was subscribed 1.87 times, while the QIBs and HNI quotas received bids up to 35 per cent and 80 per cent, respectively.
 

4:04 PM

COMMENT :: 'Market seems to have factored in a moderation in the pace of rate hike'

Despite unfavourable global cues, the domestic market reversed its early losses to trade at record highs. Following the decline in oil prices, oil & gas stocks led the rally in anticipation of margin gains, as ongoing protests in China fuelled demand concerns. Going ahead, global markets will depend on Powell’s speech on Wednesday, which is crucial in maintaining the momentum, as the market seems to have factored in a moderation in the pace of rate hike.

Views by: Vinod Nair, Head of Research at Geojit Financial Services.
4:02 PM

COMMENT :: 'Higher bottom formation on intraday charts indicate continuation of uptrend in near future'

The benchmark indices held the positive momentum, the Nifty ends 50 points higher while the Sensex was up by 211 points. Among sectors, Oil and Gas and Energy indices rallied most whereas Metal stocks corrected sharply as a result Metal index shed over 1 percent.

Higher bottom formation on intraday charts indicating continuation of uptrend in the near future. For the trend following traders, now 18,400-18,350/62,200-62,000 would be the sacrosanct support zones; above which the index may hit the fresh all time high or 18,605-186,50/62,750-63,000.

On the flip side, below 18,350/62,000 uptrend would be vulnerable. Below the same, traders may prefer to exit out from the trading long positions.

Views by: Shrikant chouhan, Head of equity research (retail), Kotak Securities
3:59 PM

Bond market :: Yields on 10-year G-Sec ease on Monday

3:57 PM

Currency check :: Rupee ends mildly lower

Source: Bloomberg

3:55 PM

IPO Mart :: Dharmaj Crop garners subscription worth 1.3x till 3:40 PM on day 1

3:53 PM

Buzzing stock :: Arvind Smartspaces leaps over 6% on stellar response to new project

Arvind SmartSpaces launches and sells entire 1st phase of Arvind Greatlands in 10 hours.
 
3:51 PM

Buzzing stock :: Techno Electric zooms 3% on order win worth Rs 700 crore

The details are as follows:
GOA Tamanar Transmission Project Limited — Transmission — Rs 126 crores
RECPDCL — 2.5 Lakh Smart Meters in Jammu & Kashmir on DBFOOT Basis — Rs 338 crores
Tripura State Electricity Corporation Ltd — Transmission — Rs 230 crores 
 
3:48 PM

Buzzing stock :: Railway stocks extend gains; Titagarh Wagon hits 5% upper circuit

>> Texmaco rail surges 8%
>> Rail Vikas Nigam: 105
>> IRCTC: 0.65

3:46 PM

Buzzing stock :: Tyre stocks zoom on hopes of margin improvement

3:45 PM

Buzzing stock :: Hero MotoCorp gains 2% on price hike decision

"Hero MotoCorp will make an upward revision in the ex-showroom prices of its motorcycles and scooters, effective from December 1, 2022. The price increase will be up to Rs 1,500 and the exact quantum of increase will vary by specific models and markets," the company said in regulatory filing. READ MORE

3:43 PM

Buzzing stock :: MSTC hits 20% upper circuit on heavy volume

>> Shares of MSTC were locked in the 20 per cent upper circuit at Rs 338.80 on the BSE in Monday’s trade at 02:34 PM backed by heavy volumes. A combined 5.83 million equity shares representing 8.3 per cent of total equity of the company had changed hands at the counter on the NSE and BSE.  READ MORE

3:41 PM

Broader market :: BSE SmallCap index up nearly 0.8%

3:40 PM

Broader market :: BSE MidCap index outshines benchmarks, rises 0.7%

3:39 PM

Sectoral trends :: Metal index dips 1%, Auto in fast lane

3:37 PM

Nifty50 :: Top gainers and losers of the day

3:36 PM

Sensex Heatmap :: RIL, Nestle, Asian Paints lead gains on the index

3:35 PM

CLOSING BELL :: Nifty holds 18,550 at close

3:34 PM

CLOSING BELL :: Sensex ends at record closing peak, rises 200 pts

3:25 PM

COMMENT :: 'Incremental allocations to equities could be done in a staggered manner'

Sentiment and flows currently are acting as a strong catalyst for the markets which touched an all-time high. We are seeing domestic as also  foreign investors being net buyers of equity aiding the momentum. Here on one needs to be balanced as most of the positives are in the prices for now. Incremental allocations to equities could be done in a staggered manner as opposed to lumpsum investments.

Views by: Lakshmi Iyer, CEO- Investment Advisory, Kotak Investment Advisors
3:13 PM

MSTC hits 20% upper circuit, counter logs volume of over 8% of total equity

MSTC plays a very important role as a service provider in e-Commerce and is a market leader in this sector. It has the distinction of serving majority of Central/State Government Departments, PSUs and a few leading Private Institutions for providing transparent, fair & seamless e-Commerce services to its clients. READ MORE

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First Published: Nov 28 2022 | 8:19 AM IST

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