Business Standard

Banks, Wipro lift indices in fag-end; Sensex up 401 pts, Nifty tops 17,700

CLOSING BELL: The gains in benchmark indices were led by HDFC Life (up 6.4 per cent), Wipro, ICICI Bank, Titan, Axis Bank, SBI, Hero MotoCorp, Grasim, and Adani Ports

Image SI Reporter New Delhi


Stock market highlights: Equity markets gained momentum in the fag-end of the session as investors turned to financial sector stocks, especially those of public sector banks. The S&P BSE Sensex, after staying listless for better part of the day, rallied 401 points, or 0.67 per cent, to end at 60,056. 

The Nifty50, meanwhile, surpassed the 17,700-mark to settle at 17,743, up 119 points. The gains in these indices were led by HDFC Life (up 6.4 per cent), Wipro, ICICI Bank, Titan, Axis Bank, SBI, Hero MotoCorp, Grasim, and Adani Ports. 

The broader markets, which were leading the frontline indices during the earlier part of the day, ended as underperformers. The BSE MidCap and SmallCap indices settled with gains of up to 0.47 per cent.

Among sectoral indices, the Nifty PSU Bank index advanced 2.6 per cent, followed by the Nifty Bank, Financial Services, Private Bank, and Realty indices, up 1 per cent each.

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4:16 PM

COMMENT:: Strong Q4 earnings by heavyweights revived market sentiment

The positive market sentiment in the domestic market was boosted by strong earnings reported by heavyweights. This led to a reversal in the cautiousness from initial below expectation FYQ4 results. However, the weak global sentiment did raise some concerns midway. But the banking sector played a key role in this upward trend, with sector majors reporting strong earnings.
- Vinod Nair, Head of Research at Geojit Financial Services
4:12 PM

Bank Nifty:: Index can rally up to 43,000/ 43,300

The BANK NIFTY index witnessed a strong breakout on the daily chart with a sharp surge in volumes. The index remains in a strong buy mode and any dip should be an ideal opportunity to add on the long positions. The lower-end support is visible at 42,300 which will act as a cushion for the bulls and the potential upside targets are 43,000/43,300.
- Kunal Shah, Senior Technical Analyst at LKP Securities
4:10 PM

ITC rally has more legs on FMCG biz scale up, high cigarette vols: Analysts

ITC share: The stock has firmly outperformed the benchmark returns by rallying 56 per cent over the last year versus a 3% and 23.5% gain in the Nifty50 and Nifty FMCG indices during this time. READ MORE

4:09 PM

HDFC Life surges 7% as RBI allows HDFC Bank to up stake beyond 50%

RBI's permission to increase stake in subsidiaries puts an end to the overhang on the stock, said Motilal Oswal in a note. READ MORE


4:07 PM

Reliance Industries edges marginally higher post March quarter results

The company reported its highest-ever net profit during the quarter, due to a decline in raw material costs and big savings on tax expenses. READ MORE


4:05 PM

Power Mech surges over 10%, hits record high on winning orders worth Rs 720 crore

The stock price of PMPL has appreciated by 70 per cent from a level of Rs 1,571 touched on February 3 on the BSE. READ MORE


4:03 PM

Wipro gains 2.7% on share buyback plan; board to meet on April 27

In past one year, Wipro has underperformed the market by falling 29 per cent as against a 6 per cent rise in the S&P BSE Sensex. READ MORE


4:01 PM

Ircon Int'l, RVNL surge up to 10%, hit 52-week high on heavy volumes

In past one month, RVNL and Ircon International have rallied 30 per cent each at the bourses, as against nearly 4 per cent rise in the Sensex. READ MORE


3:59 PM

Cyient extends rally on strong Q4 results; stock zooms 52% so far in 2023

The recent stock run-up largely captures growth momentum; expensive valuation limits upside, analysts at ICICI Securities said. READ MORE


3:57 PM

Sun Pharma slips after USFDA notice to Mohali facility

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3:55 PM

BSE Smallcap Heatmap:: RVNL, Indiabulls RealEstate zoom up to 13%


3:52 PM

BSE Midcap Heatmap:: IRFC, Endurance, Persisten System gain up to 5%


3:51 PM

Market Breadth was fairly positive; Over 1,900 stocks advanced v/s 1,660 declining stocks on the BSE


3:49 PM

Nifty PSU Bank index soars 2.6%; Bank of Maharashtra, PSB zoom 9%


3:47 PM

Nifty Bank advances 1.2%; Axis, ICICI Bank lead


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First Published: Apr 24 2023 | 7:52 AM IST

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