- Sebi penalises PMIA, directors for Rs 28 lakh for violating market norms
- Private banks post 31.7% YoY growth in Q3, net profit rises to Rs 35,166 cr
- Sebi study suggests 89% retail traders in equity F&O suffered losses
- Stocks slide in volatile trading in run-up to Budget, Fed Reserve meet
- Sebi to introduce more safeguards for F&O as traders' losses mount
- Domestic demand drives Bajaj Auto's small profit growth; net up by 3%
- Sebi bans entities from market in unauthorised investment advisory case
- Adani group firm shares tank by up to 9% following Hindenburg report
- First ever sovereign green bond auction lapped up at lower-than-mkt yields
- India's first-ever green bond auction gets better-than-expected yield
Sensex hits 63K, gains 418pts; Nifty ends at record high of 18,750
CLOSING BELL: The S&P BSE Sensex scaled a new summit at 63,303, and settled above 63,000-mark for the first-time ever. The Nifty 50 hit a new all-time high at 18,816 on Wednesday.
Topics
MARKET LIVE | MARKET WRAP | Markets
SI Reporter |
Last Updated at November 30, 2022 16:39 IST
EVENT HIGHLIGHTS
CLOSING BELL
STOCK MARKET HIGHLIGHTS: After a quiet start to the trading session, the bulls came roaring towards the end of the day and propelled the key frontline indices to newer heights on Wednesday.
STOCK MARKET HIGHLIGHTS: After a quiet start to the trading session, the bulls came roaring towards the end of the day and propelled the key frontline indices to newer heights on Wednesday.
The S&P BSE Sensex had dipped to a low of 62,648 in early deals, the benchmark rebounded and exhibited lacklustre movement for a major part of the trading day. However, late buying saw the BSE Sensex zoom to a high of 63,303.
The Sensex finally ended above the 63,000-mark for the first-time ever, up 418 points at 63,100. In the process, the BSE index has rallied 1,955 points in the last seven straight trading sessions.
The NSE Nifty surged 162 points to a new closing high at 18,780.
"Domestic market continued its quest for gains, boosted by FII inflows. However, markets will be sensitive to the Fed Chair’s remarks later in the day, as investors are expecting a moderation in the pace of rate hikes. An In-line comment will help to sustain the rally while loosening COVID-19 restrictions in China is providing relief to global markets,", Vinod Nair, Head of Research at Geojit Financial Services said.
Among the Sensex 30 shares, Mahindra & Mahindra soared 4.3 per cent to Rs 1,311. UltraTech Cement, Hindustan Unilver and PowerGrid Corporation gained 2 per cent each. Bharti Airtel, Tata Steel, Titan, Asian Paints and Kotak Bank also finished with smart gains. On the flip side, IndusInd Bank and SBI were down around a per cent each.
The broader markets also ended on a firm note. The BSE Midcap index jumped over a per cent, while the Smallcap index added 0.6 per cent. The overall market breadth too was positive, with 2,072 stocks ending higher versus 1,424 stocks declining on the BSE today.
Among individual stocks, Zomato gained 2.7 per cent at Rs 65.25 amid reports that Alibaba Group Holding was suppose to offload 3 per cent stake in the company via block deals. The counter saw trades of around 572.70 million shares on the BSE and NSE combined. READ MORE
Shares of oil & gas companies, including those of city gas distribution (CGD) companies, were in focus on Wednesday and moved higher by up to 4 per cent on the BSE intra-day trade on reports that the Kirit Parikh Committee recommended a floor and ceiling price for natural gas produced from legacy fields for a period of five years. READ MORE
Further, shares of hotel companies also trended higher on hopes of healthy earnings in Q3. The likes of TajGVK, Lemon Tree and Oriental Hotel ended with gains of 7 - 10 per cent on Wednesday. Analyst at Motilal Oswal expect the occupancy rate to improve further from the pre-pandemic levels, on the back of strong demand drivers including resumption in foreign inbound travel. READ MORE
Primary Market Update:
Dharmaj Crop Guard IPO was subscribed up to 32 times as of 03:40 PM on the final day of the offer period. The retail investors portion was subscribed 20.3 times, the QIBs and HNI quotas received bids up to 42.2 times and 51.6 times, respectively.
Meanwhile, the Rs 836 crore Uniparts India IPO in the price range of Rs 548 to Rs 577 was off to a slow start on Day 1 of the offer period. The issue was subscribed 35 per cent, with bids from the retail segment up to 55 per cent of the reserved quota, and HNIs up to 36 per cent.
CATCH ALL THE LIVE UPDATES
Auto Refresh
Load More