Sensex gyrates 1,027 pts, ends 257 pts up; Nifty holds 17,550; M&M gains 4%

CLOSING BELL: RIL, ICICI Bank, M&M, SBI, Bajaj twins, and Titan were the stocks that supported the indices

3:57 PM

Expert view: Fear of uncertainty visible as market exhibits high volatility

"Fear of uncertainty is visible in the market as they move with high volatility, led by weak signals from global peers, while a stronger domestic economy is providing some comfort. Global markets were under pressure with a spike in European energy prices and rate hike fears ahead of the Jackson Hole gathering. On the domestic front, gains in banks, autos and metals were countered by selling in IT stocks as majors are scaling down variable pay due to margin pressure."   

 

- Vinod Nair, Head of Research at Geojit Financial Services
 

3:57 PM

Nifty tech view: Trend may remain positive as long as the index holds 17,400

"The Nifty ended the day with a significant green candle that pierced through the body of the previous bear candle on the daily chart. On the lower end, the Nifty found support at a near-term moving average. Going ahead, the trend may remain positive as long as the index holds above 17,400 on a sustained basis. On the higher end, 17,700 may act as immediate resistance; a decisive move above 17,700 may induce a rally towards the recent high of 18,000."

 

- Rupak De, Senior Technical Analyst at LKP Securities

3:57 PM

Deepak Fertilisers gains 5%, hits new 52-week high

The stock has zoomed 50 per cent in the last four weeks on strong demand outlook. The company expects their market leadership in key product segments and strong demand outlook to drive business growth and profitability. READ MORE

3:54 PM

Devyani International shed 5% after over 2% equity traded via block deals

At 09:15 am; around 28.95 million equity shares representing 2.4 per cent of the total equity of Devyani International changed hands on the BSE, the exchange data shows. The names of the buyers and sellers were not ascertained immediately. READ MORE

3:53 PM

GE Shipping hits over 14-year high, stock zooms 83% thus far in 2022

Shares of Great Eastern (GE) Shipping Company hit an over 14-year high at Rs 554  owing to healthy earnings and strong outlook. The stock has zoomed 83 per cent so far this year. READ MORE

3:51 PM

Astra Microwave jumps 4%; stock up 66% in the last two months

The company sees opportunities from various programs planned by the government through Defense Research labs (DRDO) and from the Make-II opportunities from Ministry of Defence (MoD). 

3:49 PM

Eicher Motors gains 3%, hits new high; market cap nears Rs 1 trillion

Shares of Eicher Motors hit a new high at Rs 3,480. In the past two weeks, the stock has rallied 12 per cent after the company reported a strong set of earnings for the June quarter (Q1FY23). READ MORE

3:45 PM

Bank Nifty view: Bank Nifty remains in 'Buy on Dip' mode

"The Bank Nifty index witnessed a sharp recovery from the lower level and formed a strong bullish reversal candle. The index downside support stands at the 37,700-38,000 zone and as long as this support is held the index remains in a buy on dip mode. The immediate upside hurdle stands at 39,000 where call writers are active and once surpassed will see further short covering."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities 

3:44 PM

Sectorally, Nifty PSU Bank, Auto and Metal indices gain the most; IT index slips nearly 2%

3:43 PM

Broader indices outperform benchmark Nifty 50, gain over a per cent each

3:39 PM

Sensex 30 Heatmap:: M&M, Bajaj Finserv rally; Infosys, TCS fall

3:37 PM

Nifty 50:: Top FIVE gainers and losers on Tuesday

3:36 PM

NSE Nifty 50 settled at 17,578, added 87 points

3:34 PM

Closing Bell:: S&P BSE Sensex ends 257 points higher at 59,031

3:26 PM

BSE 500:: Volume Shockers

Devyani International has witnessed unusually high volume of around 35.32 million shares on the BSE so far as against its five-day average volume of around 0.5 million shares. Similarly, Kalyan Jewellers, Quess Corp, Indigo Paints and MAS Financial Services witnessed a significant spike in volume on Tuesday.

3:18 PM

SpiceJet exploring stake sale to raise Rs 2,000 cr, says CMD Ajay Singh

SpiceJet is looking to raise investments from external parties, including airlines, said Ajay Singh on the sidelines of an ASSOCHAM event. READ MORE

3:09 PM

Stocks at 52-week high:: BEL, Deepak Fertilizers, Eicher Motors

Bharat Electronics (BEL, Deepak Fertilizers, Eicher Motors and GE Shipping hit a new 52-week high in trades today.

2:59 PM

Global Check:: US, UK stock futures mildly positive on Tuesday

Source: Investing.com

2:49 PM

Correction likely after a sharp run; buy on dips: Credit Suisse Wealth Mgmt

The recent 'hope rally' in Indian markets was mostly led by a presumption that global central banks, especially the US Fed, may go slow on rate hikes in the rest of 2022 as the inflation cools off. READ MORE

2:40 PM

Inflation to ease to 4% in two years after peaking, says RBI Governor

The RBI has raised policy repurchase rate by a total of 140 basis points since May, including back-to-back half point increases in June and August, to cool down inflation within its mandate. READ MORE

2:33 PM

Centre proposes stricter valuation rules for overseas direct investments

The government on Monday introduced new set of rules for domestic entities, including companies and large family offices and start-ups, opting for overseas direct investment route (ODI), which could impact their acquisition decisions in a big way. READ MORE

2:26 PM

BSE 500:: Top losers so far

Devyani International has slipped nearly 6 per cent and was the top loser among the BSE 500 stocks so far on Tuesday. It was followed by Adani Power, Adani Green, MphasiS and Varroc Engineer.

2:16 PM

Can the new Irdai chief bring in much-awaited reforms in insurance sector?

For Irdai Chairman Debasis Panda, LIC's fortune and reforms in health insurance sector will be the two most difficult tests to pass. READ MORE

2:07 PM

Asian Markets Update:: Major indices decline around a per cent apiece

Source: Yahoo Finance

1:59 PM

Supreme Court rules that benami law cannot be applied retrospectively

The Supreme Court (SC) on Tuesday ruled that the Benami law can only be applied prospectively and not retrospectively, and held section 3(2) of the Act “unconstitutional”.  Several businesses have been awaiting this verdict on the Benami Transactions (Prohibition) Amendment Act, which came into effect on November 1, 2016. READ MORE

1:58 PM

Corporate Action :: Ruchira Papers to consider bonus issue on August 30

1:50 PM

BSE 500:: Stocks recovering smartly from the lows of the day

MAS Financial Services has surged over 10 per cent from its low of the day so far. Similarly, Kalyan Jewellers, Indigo Paints, Brightcom Group and Borosil Renewable Energy were some of the other significant movers from the lows of the day on Tuesday.

1:42 PM

This Radhakishan Damani-owned stock has zoomed 66% in 2 months

In the past two months, the stock of the defence company has zoomed 66 per cent from level of Rs 193 on the BSE. Moreover, over the past six months, it has soared 65 per cent as against 2.6 per cent rise in the S&P BSE Sensex. In the past one year, the stock has surged 111 per cent as compared to 5.7 per cent gain in the benchmark index. READ MORE

1:29 PM

MARKET CHECK :: Sensex rebounds from lows

1:19 PM

Sensex Contributors :: Infy, HDFC Bank weigh; RIL, ICICI Bank lend support