Sensex rises 203 pts, Nifty ends near 17,800; Maruti zooms 5%, RIL 3%

Stock market wrap: Reliance alone contributed 231 points to the 30-share benchmark. Maruti, M&M and NTPC were the other major gainers. The Metal and IT sector witnessed selling pressure.

Stock Market Highlights

After a promising start to the trading day, the key benchmark indices slipped into red for a brief moment, and then pulled back towards the close. Broader markets, however, succumbed to selling pressure on Friday.

The S&P BSE Sensex surged to a high of 60,133 in early deals, but then dipped into red to a low of 59,739. The 30-share index eventually ended 203 points higher at 59,960. In the process, the BSE benchmark ended the festive week with a gain of 1.1 per cent (650 points).

The NSE Nifty settled 50 points higher at 17,787. In the broader markets, BSE Midcap and Smallcap indices slipped around 0.5 per cent each.

Among individual stocks, Reliance up 3 per cent was primarily responsible for the day's gain. The stock alone contributed 231 points to the BSE benchmark. 

Maruti zoomed 5 per cent to Rs 9,495, after the company reported 4-fold jump in net profit, beating Street estimates. READ MORE

NTPC, Mahindra & Mahindra, PowerGrid Corporation, Titan and Bajaj Finserv were the other notable gainers. On the other hand, Tech Mahindra and Tata Steel shed 2.5 per cent each. Sun Pharma, ICICI Bank, SBI and Axis Bank were the other prominent losers, down 1 - 2 per cent each. 

Sectorally, the BSE Auto index rallied nearly 2 per cent. The Energy and Oil & Gas indices were the other significant gainers. The Metal index shed 1.4 per cent, and the IT index slipped 0.7 per cent. 

Among other individual stocks, Nykaa crashed out of the top-100 most valued firms in India, after the stock tanked to a record low of Rs 975.50 (down 7 per cent) in trades today. The companies market cap fell to Rs 46,292 crore. READ MORE
 

Among other individual stocks, SBI Cards cracked over 5 per cent in trades on profit-booking after the company reported 52 per cent YoY jump in net profit to Rs 526 crore in Q2FY23. READ MORE

 

4:24 PM

Tech view: Consolidation likely to continue; Nifty may move sideways

"Nifty remained volatile during the day before closing on a muted note. The consolidation continued as the index failed to give any directional move. On the daily timeframe, the index has sustained above the crucial moving average, confirming the short term uptrend. Over the short term, the trend may remain sideways to positive. On the lower end, support is visible at 17,700/ 17,550; resistance on the higher end is placed at 17,850/ 17,950."

 

- Rupak De, Senior Technical Analyst at LKP Securities

4:20 PM

Bank Nifty view: Expect volatility ahead of the RBI meet next week

"The BANK NIFTY index witnessed some profit booking at higher levels and faced resistance at 41,500 where the highest amount of open interest is built up. The index will remain volatile ahead of the RBI policy lined up next week. The index is stuck in a broad range between 40,500-41,500 and a break on either side will see trending moves in one direction."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities 

4:05 PM

COMMENT:: Strengthening Rupee supporting domestic markets

"Gains in index heavyweights helped the domestic market to withstand its gains despite negative trends in its global peers. US tech stocks had a significant sell-off following disappointing quarterly results and a bleak forecast. The ECB raised its interest rate by 75 basis points, also signalling that it is making progress in combating record inflation, though the plausibility for a recession grew. However, the strengthening rupee along with a softening treasury yield and decent Q2 earnings results are supporting the domestic market in the near term."

 

- Vinod Nair, Head of Research at Geojit Financial Services

 

3:58 PM

Market breadth was negative; 136 stocks hit new 52-week high on BSE

3:57 PM

Nifty Metal Index sheds 1.5%; SAIL cracks 4%

3:55 PM

Nifty Auto Index jumps 1.6% led by Maruti

3:54 PM

Nifty Midcap, Smallcap end in red; India VIX dips 4%

3:52 PM

Nifty 50 Losers:: Tech Mahindra, Tata Steel, Sun Pharma whine

3:51 PM

Nifty 50 Gainers:: Maruti, Reliance, Apollo Hospital top charts

3:49 PM

Sensex 30 Heatmap:: 20 Gainers v/s 10 Losers

3:48 PM

NSE Nifty50 gains 50 pts, settles at 17,787

3:37 PM

Closing Bell:: Sensex ends 203 pts higher at 59,960

3:19 PM

Tata Chemicals drops 5% on profit booking post solid Q2 results

Analysts believe that prices and demand will remain stable in the near term while increase in energy prices and feedstock (limestone, coke and raw salt) remains a key concern. READ MORE

 

3:09 PM

Global Check:: US, UK stock futures down up to 1%

Source: Investing.com

2:57 PM

Japan's unemployment rate rises to 2.6% in September: Govt report

Japan's unemployment rate rose to 2.6 per cent in September from the previous month, the government said in a report on Friday. READ MORE