Sensex rises 322 pts, Nifty tops 17,900 amid global rally; IT stocks shine

CLOSING BELL: Tech M, Titan, Axis Bank, Infosys, Ultratech Cement, Bajaj Finance, Tata Steel, Wipro, RIL, and TCS were the top large-cap winners

CLOSING BELL

Stock market highlights: The global rally lifted Indian equities on Monday as investors shrugged off hawkish policies by global central banks. The S&P BSE Sensex surged 322 points, or 0.54 per cent, to settle at 60,115, while the Nifty50 ended at 17,936, higher by 103 points or 0.58 per cent.

While both the indices hit intra-day highs of 60,284.55 and 17,980.55, respectively, they came off highs ahead of the retail inflation data for August due to be released later today.

The resilience of the broader markets, meanwhile, continued on the bourses with the BSE MidCap and SmallCap indices advancing up to 1 per cent higher.

Tech M, Titan, Axis Bank, Infosys, Ultratech Cement, Bajaj Finance, Tata Steel, Wipro, RIL, and TCS were the top large-cap winners, while HAL, ACC, Godrej Properties, Jubilant FoodWorks, Aurionpro Solutions, Xchanging Solutions, Repco Home Finance stole the show in the broader markets. All these stocks soared between 1 per cent and 20 per cent. 

Sectorally, it was a sea of green with the Nifty Realty and IT indices leading the charts, rising 2 per cent and 1.4 per cent, respectively. The Nifty Auto index poste the smallest gain of 0.27 per cent.

4:06 PM

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

Domestic economy is witnessing strong vigour and the same is assisting a steady growth in Indian equities. A 15.5% YoY increase in bank credits during August suggests that the economy is recovering rapidly. Due to rising food prices, domestic inflation figures are predicted to show a gradual rise from 6.7% in July which could add volatility in the short-term. Meanwhile, the world equity market is ignoring the fact that the Fed will retain its aggressive rate hike strategy given high levels of inflation assuming that much is factored in.

4:01 PM

Coal India, Shree Cement, Nestle India top Nifty50 losers

3:54 PM

Adani Ports, Titan, Tech Mahindra top Nifty50 leaders

3:49 PM

Broader markets outperform benchmark; India Vix climbs 1%

3:45 PM

All sectors close in positive territory; Nifty Realty up 2%

3:39 PM

SENSEX HEATMAP: 9 out of 30 index constituents close in red

3:38 PM

CLOSING BELL: Nifty50 closes above 17,900 levels, over 100 points higher

3:33 PM

CLOSING BELL: Sensex closes 300 points higher, above 60,000 levels

3:27 PM

ALERT :: Vedanta-Foxconn likely form JV for semi-conductor plant, reports Reuters

>> Vedanta to set up plant in Gujarat

>> Project woth $2,000 crore

3:16 PM

MARKET CHECK :: Sensex off day's high

3:03 PM

NTPC pays final dividend of Rs 2,909 crore to shareholders for FY22

NTPC has paid a final dividend of Rs 2,908.99 crore for 2021-22 to its shareholders. Read here

2:54 PM

Export ban, duties to weigh on rice mill stocks in near-term, say analysts

Shares of LT Foods, Kohinoor Foods, KRBL, Chaman Lal Setia Exports, for instance, have declined in the range of 2 per cent to 9 per cent, as against 0.4 per cent gain in the Nifty50 index.Read here

2:48 PM

Ramkrishna Forgings to issue upto 4.6 mn convertible warrants, stock rises 2%

Ramkrishna Forgings to issue up to 46 lk convertible warrants at Rs 205 each on preferential basis to promoters/public category. 

2:36 PM

Investors left empty-handed in IndiGo block trade due to slippage

None of the investors lined up by the banks working on billionaire Rakesh Gangwal's sale of part of his family's stake in IndiGo got any shares in the block trade as a result of slippage. Read here

2:27 PM

ALERT :: UK economy grew 0.2% in July (MoM) Vs estimate of 0.3%