Sensex jumps 514 pts, ends above 59k; Nifty Realty up 4%, auto worst loser

After trading on a volatile note for most part of the trading session, the benchmark indices stabilised in the afternoon trade, logging a smart rebound post two-days of selling. Improved sentiments in the European markets and strength in US equity futures lent confidence to markets back home, while investors looked ahead to the US Federal Reserve policy meeting that will kick off later today.  

The BSE Sensex rose 514 points to end at 59,005 after swinging 786 points in intra-day session. Meanwhile, the 50-pack Nifty closed the day at 17,563, up 166 points. According to tech analyst Ashis Biswas of CapitalVia Global Research, 17,450-17,500 will be an important support zone for the market to stay positive in the short term. If the market is able to sustain the level of 17450-17500, market can witness higher levels of 17850, Biswas added.

JSW Steel, ONGC, Bajaj Finance and IndusInd Bank as the top gainers in the Nifty kitty of stocks, up between 4-5 per cent. Only 10 stocks from the Nifty basket closed in the red. Maruti was the worst performer, down 2 per cent, followed by BPCL, Hero Moto, Bajaj Auto and Nestle India.

Sectorally, auto emerged to be the top losers, down 0.46 per cent. The Nifty PSU Bank index followed suit as it ended flat with a negative bais. On the other hand, Nifty Realty with a gain of 3.57 per cent was the best gainer. Nifty Metal (up 2.55 per cent), Nifty IT (up 1.94 per cent) and Nifty Pharma (up 1.29 per cent) were among other gainers.

In the broader markets, the trend was mixed as Nifty Midcap 100 gained 0.64 per cent and the Nifty Smallcap 100 declined 0.14 per cent.

4:07 PM

MARKET CLOSE :: Vinod Nair, Head of Research at Geojit Financial Services

Domestic indices staggered during the early trading session however positive trends in the global markets comforted Indian equities to rebound during the second half. Global stocks recovered from the fears sparked by troubles in the Chinese economy, ahead of the FOMC meeting that will start later in the day. All major sectors traded in the green zone while the auto sector remained under pressure due to rising input costs and the semiconductor shortage faced by the global auto industry.

4:06 PM

TECH VIEW :: Rohit Singre, Senior Technical Analyst at LKP Securities

Sharp recovery has been witnessed from good support zone as mentioned and closed a day at 17562 with gains of one percent and formed a bullish candle on daily chart after two bearish candles. Now going forwards 17600-17660 will act as resistance zone also one can lock their long gains around said levels and supports are placed at 17500-17430 zone any dip near said levels will be again buying opportunity with keeping immediate stop out level below 17500 zone and overall range is coming in between 17300-17800 zone

4:03 PM

Tata Motors ends up 2% after company decided to increase commercial vehicle prices from 1st October 2021

>> The effective price hike, in the range of 2%, will be implemented basis the model and the variant of the vehicle

3:58 PM

SBI Cards falls as 4% equity changes hands on Exchanges via block deal

>> Carlyle Group proposed to divest 3.4 per cent stake in the company through a block trade

3:52 PM

IPO Update :: Paras Defence IPO subscribed 13.91 times on Day 1 so far

3:49 PM

Nifty Realty top sectoral gainer; closes 3.6% higher

3:44 PM

Broader markets underperform benchmarks; Nifty Smallcap 100 slips 0.14%

3:40 PM

Sector watch :: Most sectors end in green; Nifty Auto and PSU Bank only losers

3:38 PM

Sensex Heatmap :: Top gainers & losers at close

>> Out of the 30 stocks in the BSE Sensex index, 24 ended in the green

3:36 PM

CLOSING BELL :: Nifty climbs 1% to end at 17,562

3:33 PM

CLOSING BELL :: Sensex jumps 500 points to end over 59,000-level

3:21 PM

Bulls roar on Street! Sensex jumps over 550 pts

3:09 PM

Adani takes on Mukesh Ambani, to invest $20 bn in renewable energy

Unveiling his infrastructure conglomerate's green vision, billionaire Gautam Adani on Tuesday said his group will invest USD 20 billion over the next 10 years in renewable energy generation and component manufacturing and will produce the world's cheapest green electron. READ MORE

 

3:00 PM

CarTrade, Aptus Value, Krsnaa Diagnostics, Rolex Rings hit new lows

Shares of the four recently listed companies, CarTrade Tech, Aptus Value Housing Finance India, Krshna Diagnostics and Rolex Rings, hit fresh lows since their listings on the bourses on Tuesday. These stocks were down between 2 per cent and 4 per cent on the BSE in intra-day trade. CarTrade Tech, a company that operates online platforms for buying and selling of vehicles, hit a new low of Rs 1,365, down 4 per cent on the BSE. The company had debuted on August 20, 2021, and hs fallen 16 per cent below its issue price of Rs 1,618 per share. READ MORE

2:48 PM

ALERT :: Sensex rises over 400 points