Sensex ends 352 pts off day's lows, rises 38 pts; L&T, Airtel top gainers

CLOSING BELL: The recovery was led by Kotak Bank (up 4 per cent), L&T, Bharti Airtel, SBI, HDFC Bank, HDFC, and ITC

CLOSING BELL

Stock market highlights: After falling as much as 300 points during the day, the benchmark S&P BSE Sensex recouped all of its losses to end at 60,298, up 38 points or 0.06 per cent. The NSE Nifty50, too, recovered from a low of 17,852 to settle at 17,965, up 21 points or 0.12 per cent.

The recovery was led by Kotak Bank (up 4 per cent), L&T, Bharti Airtel, SBI, HDFC Bank, HDFC, and ITC. However, the stocks that kept the indices under pressure during the day included Infosys, TCS, Axis Bank, ICICI Bank, and Wipro.

The broader BSE MidCap and SmallCap indices, meanwhile, outperformed the frontline indices throughout the day and closed up to 0.4 per cent higher.

Among sectors, the Nifty Metal and Realty indices gained over 1 per cent each, while the Nifty IT fell 0.7 per cent.

Sensex at 60,000: What next?

It has been mostly a one-way street for equity markets since July 2022. The S&P BSE Sensex and the Nifty50 have rallied around 13 per cent each since then. The gains in the mid-and small-caps have been sharper with both these indices on the BSE surging around 14 per cent each during this period. READ MORE

3:56 PM

Expert view: Domestic equities witnessed some profit-taking

"Following the release of the Fed minutes, domestic equities experienced profit booking amid weak sentiment from global peers. The minutes showed that even while decision-makers were concerned about the impact of aggressive actions, they were in favour of raising rates further. In the domestic market, IT and pharma were the major laggards, responding to the fall in the US stocks, while financials maintained their support."

 

- Vinod Nair, Head of Research at Geojit Financial Services

3:53 PM

SBI Life hits new high; stock up 24% in two months on growth optimism

With SBI Life's distribution channels firing on all cylinders, expanding product offerings and increasing acceptance, analysts expects robust growth to continue in FY23 and beyond. READ MORE

3:51 PM

Sona BLW Precision slips 3% after huge block deals

In early morning trades on Thursday, as of 09:30 am; a combined 126 million equity shares or 21.56 per cent of the company's total equity changed hands on the BSE (92.24 million) and NSE (33.76 million shares), the exchanges data show. According to reports, Blackstone was to offload stake in the company. READ MORE

3:49 PM

Bharti Airtel ended higher as company made advance payment for 5G spectrum payment

Airtel believes upfront payment will free up future cash flows and allow the company to dedicate resources to single-mindedly concentrate on the 5G roll out. READ MORE 

 

3:41 PM

Sectoral indices ended on mixed note; IT index slips, while Pvt Bank gains

3:39 PM

Broader indices also end with marginal gains; India VIX declines 2%

3:37 PM

Nifty 50:: Top FIVE gainers and losers on Thursday

3:35 PM

Sensex 30 Heatmap:: Kotak Bank, L&T, Airtel shine; Dr.Reddy's, IT stocks whine

3:34 PM

NSE Nifty 50 settles at 17,956, gains points

3:32 PM

Closing Bell:: S&P BSE Sensex ends 38 points higher at 60,298

3:22 PM

BSE 500:: Volume Shockers

Sona BLW Precision has witnessed unusually high volume of around 97.62 million shares so far on the BSE as against its five-day average volume of around 68,500-odd shares. Similarly, Adani Green, Infibeam Avenues, Bajaj Holdings and Jindal Stainless Hisar also witnessed a significant spike in volume on Thursday.

 

3:11 PM

Adani Ent m-cap hits Rs 3.5 trillion, Adani Power m-cap set to surpass NTPC

AEL, Adani Power, Adani Green Energy, Adani Transmission, Adani Total Gas, Adani Wilmar and Adani Ports and SEZ surged up to 4 per cent, as against 0.18 per cent decline in the S&P BSE Sensex. READ MORE

3:03 PM

Global Check:: US, UK stock futures lack direction

Source: Investing.com

2:54 PM

India's worst period of macro instability possibly over: Morgan Stanley

India's worst period of macro instability is possibly over, and both consumer inflation and trade deficit are expected to moderate albeit gradually, Morgan Stanley said. READ MORE

2:43 PM

Market Check:: Sensex on the verge of turning positive