Sensex adds 138 pts; Zomato ends 65% up over issue price at Rs 126 on BSE

Stock market updates: After a volatile start, benchmark indices swiftly rose in noon deals to end near the day's high level on Friday. ICICI Bank and ITC (up 3 per cent each), followed by Axis Bank, Kotak Bank, SBI, and HCL Tech were the top contributors towards the indices' rally.

At close, the S&P BSE Sensex quoted at 52,976 levels, up 138.5 points, or 0.26 per cent. The broader Nifty50, meanwhile, settled above the psychological level of 15,850 at 15,856, up 32 points or 0.2 per cent. The BSE MidCap and SmallCap indices, however, underperformed the benchmarks with the former slipping 0.07 per cent while the latter added 0.11 per cent.

In the global markets, the pan-European STOXX 600 index rallied 0.6 per cent, while in Asia, South Korea's Kospi and Australia's ASX200 gained 0.13 per cent and 0.11 per cent, respeectively. Hong Kong's Hang Seng, however, fell 1.45 per cent.

4:18 PM

MARKET VIEW :: Ajit Mishra, VP - Research, Religare Broking

Markets traded volatile and ended marginally in the green amid mixed global cues. In the first half, the benchmark hovered in a range however healthy buying in banking, FMCG and realty aided markets to inch gradually higher as the session progressed. Eventually, the Nifty closed with gains of 0.2% at 15,856 levels. All the sectoral indices ended in positive, except for auto, energy and media. The broader markets traded mixed wherein midcap ended in-line with benchmark while smallcap ended lower by 0.5%. 

Markets will first react to results of two index majors viz. Reliance Industries and ICICI Bank on Monday i.e. 26th July. Besides, participants will be closely eyeing the global markets for cues. As we’re again trading closer to the upper band of the prevailing consolidation range i.e. 15,900 zone, we reiterate our view to limit naked leveraged positions and wait for a decisive signal from the index.

 

3:51 PM

Tech View :: Rohit Singre, Senior Technical Analyst at LKP Securities

Index closed a day on a positive note for a second consecutive day at 15856 with mild gains and formed a doji candle on daily chart which hints indecision in the markets. Going forwards overall range is coming in between 15600-16000 mark & either side breakouts will decide the final direction of the markets, immediate support is coming near 15800-15700 zone holding above said levels one can expect a breakout above 16k mark which is immediate & strong hurdle on the higher side also any dip near mentioned supports will be again buying opportunity.

3:50 PM

MARKET CLOSING COMMENTS :: Vinod Nair, Head Of Research at Geojit Financial Services

Domestic indices continued to advance ahead tracking rising global risk appetite and higher domestic inflows from local investors. Earnings season continued to pump in optimism in India & global markets while the Fed is set to deliberate their easy-money policy in the meeting ahead. Attractive IPOs, Banking and realty stocks attracted domestic buyers while mid and small-cap traded mixed.

3:50 PM

Mahindra Holidays gains 5% as firm to mull bonus issue next week

3:47 PM

JSW Steel ends 10% higher amid expectations of strong Q1 show

> Profit at Rs 5900 crore as against a loss of Rs 582 crore YoY

> Revenue stood at Rs 28902 crore versus Rs 11782 crore YoY

(Post market hours)

 

3:43 PM

RIL ends lower ahead of Q1 numbers later today

3:42 PM

Vodafone Idea tanks 10% on SC's AGR verdict

>> Supreme Court (SC) dismissed the application of telecom companies that sought recomputation Adjusted Gross Revenue (AGR) dues demanded by the Department of Telecommunication (DoT)

3:40 PM

Zomato shares end at 65% premium over issue price

> The scrip had touched a high of Rs 138.90 in trade earlier

3:38 PM

Market breadth in favour of losers on BSE

3:36 PM

Broader markets lag benchmark in Friday's session

3:36 PM

Sector Watch :: Nifty Realty, Bank lead sectoral gainers

3:35 PM

Sensex Heatmap | Top gainers & losers in today's trade

3:33 PM

CLOSING BELL: Sensex, Nifty take winning run to 2nd day

BSE Sensex closed 139 points or 0.26% higher at 52,976 while NSE Nifty clocked 32-point or 0.20% gain to settle at 15,856. ICICI, ITC and Axis Bank were the top index contributors in trade today.

3:24 PM

Sector Watch :: BSE Realty index up 1.5%, trades at top sectoral gainer

3:08 PM

India's economic rebound faces rising risk from Delta variant: Reuters poll

India's economic rebound, already weakened in recent months, could lose further momentum as coronavirus variants pose the greatest threat and inflation rises, a Reuters poll of economists found. The latest survey results suggest difficult policy decisions lie ahead for the Reserve Bank of India, which has already seen two consecutive months of inflation above the 6% upper limit of the range it tolerates. READ MORE