Sensex ends subdued day 235 pts up, Nifty swings above 18,200; SBI leaps 3%

CLOSING BELL: The Nifty PSU Bank index sharply outperformed other indices as it gained 4.5 per cent

CLOSING BELL

Stock market highlights: Domestic equities were lackluster in trade on Monday as markets began on a cautious note in a holiday-truncated week. The S&P BSE Sensex gyrated between 60,714 and 61,401 levels, before settling at 61,185, up 235 points or 0.39 per cent. The Nifty50, on the other hand, moved in a band of 200 points and closed at 18,203, up 86 points or 0.47 per cent. 

The losses in Asian Paints, Bajaj Finserv, Kotak Bank, Sun Pharma, Titan, Dr Reddy's Labs, IndusInd Bank, and Infosys were offset by gains in SBI, Tata Steel, ICICI Bank, Maruti Suzuki, Ultratech Cement, M&M, PowerGrid, and HDFC.

Sectorally, the Nifty PSU Bank index sharply outperformed other indices as it gained 4.5 per cent. The Nifty Metal index advanced 1.6 per cent, while the Nifty Auto index gained 1.3 per cent. The Nifty Pharma index was the only loser, down 1.4 per cent. 

Meanwhile, in the broader markets, the BSE MidCap and SmallCap indices added 0.6 per cent each.

IPO market

Global Health: The issue was subscribed 6 times till 3:30 PM on the final day of the issue, aided by 3.7x subscription by NIIs. While QIB portion was subscribed over 16.4x, retail portion lagged at 77 per cent level.  

Bikaji Foods: This public issue garnered impressive subscription levels. The issue was booked over 20.4 times with NII portion at 6x, QIB at 60x, retail at 4.3x, and employee at 3x. 

4:16 PM

COMMENT:: Markets may take cues from the US inflation data

"The domestic market battled to find a clear direction but it ended up making gains. Losses in pharmaceutical companies were offset by buying in PSU banks, auto, and metal equities. PSU banks took the lead in the rally as major sector players announced solid results. Fall in oil prices as China disputed rumours of lifting Covid restrictions and stronger US jobs data showed that the US economy is expanding, helped market. However, investors will await US inflation data for market direction as there aren't many domestic clues left as the corporate earnings season is drawing to close with a negative bias"

 

- Vinod Nair, Head of Research at Geojit Financial Services

 

4:12 PM

Tech view: Nifty may test 18,300 - 18,600 on the upside

"The benchmark Nifty remained volatile during the session before closing with a gain. On the daily chart, the index has remained above the previous swing high, suggesting ongoing uptrend. The momentum indicator RSI is in positive crossover. Over the short term, the trend may remain bullish, with a potential to reach towards 18,300/ 18,600. On the lower end, support is placed at 18,000."

 

- Rupak De, Senior Technical Analyst at LKP Securities

4:10 PM

Primary Market Update:: Global Healthm, Bikaji IPOs oversubscribed

Global Health IPO subscribed 9.56 times; QIB portion 28.6X; Retail 0.83X

 

Bikaji Foods International subscribed 26.6 times; QIB portion 80.6X; Retail 4.6X

 

(Data as of 4 PM)

4:03 PM

Rupee ends stronger at 81.9175, gains 52 paise v/s US$

Source: Bloomberg

4:00 PM

Adani Enterprises storms into top-10 most-valued firms club

Adani Enterprises, the flagship company of Adani Group, entered the top-10 most valued companies league in terms of market captialisation (market-cap) in India as the stock rallied nearly 19 per cent in the last one week. READ MORE

3:58 PM

SBI hits new high on strong Q2; brokerages retain 'Buy' on stock

Shares of State Bank of India (SBI) hit an all-time high on Monday after the bank’s net profit soared 73.93 per cent year-on-year (YoY) to Rs 13,265 crore in the July-September quarter (Q2FY23), backed by improvement in interest margins and decline in provisions for bad loans. READ MORE

3:56 PM

Britannia zooms 9% on robust Q2 revenue growth; enters Rs 1 trn m-cap club

Shares of Britannia Industries hit an all-time high of Rs 4,181.40 on zooming 10 per in Monday’s intra-day trade after the company reported a robust revenue growth, with its market share reaching new 15-year high in the September quarter (Q2FY23). READ MORE

3:49 PM

Market breadth was positive; 183 stocks hit new 52-week high on BSE

3:47 PM

Nifty Pharma index slips 1.4%; Divis Lab drags

3:46 PM

Nifty Metal Index gains 1.5%; Jindal Stainless soars 7%

3:44 PM

Nifty PSU Bank Index soars 4%; BoB, Union Bank shine

3:42 PM

Broader indices gain in tandem with benchmark Nifty 50

3:40 PM

Nifty 50 Losers:: Divis Labs, Asian Paints, Cipla

3:38 PM

Nifty 50 Gainers:: Britannia, SBI, Adani Enterprises top charts

3:37 PM

Sensex 30 Heatmap:: 19 Gainers v/s 11 Losers