Sensex ends choppy day 130pts up ahead of inflation data; Nifty below 17700

CLOSING BELL: Among sectors, the Nifty IT and Pharma indices fell 1.15 per cent each, while the Nifty Oil and Gas index rose over 2 per cent

CLOSING BELL

Stock market highlights: The volatile day in the markets ended mildly above the flat line on Friday as investors awaited India's retail inflation data for July. The S&P BSE Sensex gyrated around 425 points, before closing 130 points, or 0.22 per cent, higher at 59,463. The Nifty50 closed at 17,698, up 39 points or 0.22 per cent.

In the broader markets, the BSE MidCap and SmallCap indices closed 0.15 per cent and 0.4 per cent higher, respectively. Among sectors, the Nifty IT and Pharma indices fell 1.15 per cent each, while the Nifty Oil and Gas index rose over 2 per cent.

Stock of the day: Tata Elxsi

Shares of Tata Elxsi hit a new high at Rs 10,150 as they rallied 6.8 per cent on the BSE in Friday’s intra-day trade on the back of strong growth outlook. Tata Elxsi is a subsidiary of Tata Sons. READ MORE

3:59 PM

Expert view:: Return of FIIs, fall in dollar index aided today's market rally

"Return of FIIs and declining dollar index aided the market rally. While Metals and Oil & Gas garnered buying interest, IT and pharma weighed on sentiments. Oil and gas stocks were in focus as the government diverted some natural gas from industries to city gas operators in an effort to moderate the prices of CNG and piped cooking gas"

 

- Vinod Nair, Head of Research at Geojit Financial Services

3:59 PM

Trading action to resume on Tuesday

The markets will be close for trading on Monday on account of Independence Day holiday. On the Tuesday, the markets will react to macro economic data that will be announced later today, and action in the global markets during the three-day holiday break.

3:55 PM

Tech view:: Nifty may face resistance around 17,750 - 17,800

"The Nifty traded in a tight range as no directional urgency was visible on the last day of the week. On the weekly chart, the Nifty has gained for the fourth week in a  row suggesting an ongoing bullish trend. Despite the proximity to the trend line resistance, the trend remains strong. On the higher end, 17,750-17,800 is likely to remain strong resistance. A decisive breakout above 17,800 may induce a further rally in the market. On the lower end, support is visible at 17300."

 

- Rupak De, Senior Technical Analyst at LKP Securities

3:55 PM

View on Bank Nifty:: Next resistance at 39,500

"The Bank Nifty index continued its strong up move throughout the week and surpassed the level of 39,000 on a closing basis. The index next resistance is placed at 39,500 where fresh call writing has been witnessed and if breached will see a further up move towards the 40,000 level. The immediate support on the downside stands at 38,000 and one should keep a buy-on-dip approach."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities

3:50 PM

Metro Brands hits record high, stock up 49% in one month

Shares of Metro Brands hit a new high of Rs 857, gaining XX per cent on the NSE. The stock has gained 49 per cent in the past one month on the back of strong Q1 earnings, and has rallied 101% from its listing day low on December 22, 2021. READ MORE

3:49 PM

Tata Elxsi zoomed past the Rs 10,000-mark, gains 8.4%

Tata Elxsi hit a new high of Rs 10,375 on rallying over 9 per cent on the NSE in an otherwise range-bound market, on the back of strong growth outlook. READ MORE

3:45 PM

Bharat Forge surges over 7% on stable business outlook post Q1 results

Looking ahead in to Q2FY23, the management expects stable performance across both the domestic and export markets despite uncertainty arising from the macro- economic headwinds.

3:42 PM

Secotoral Movers:: IT, Pharma decline; Metal index shines

3:41 PM

Broader markets move in tanden with Nifty50, log marginal gains; India VIX slips 4%

3:39 PM

Sensex 30 Heatmap:: NTPC, Tata Steel soar over 3%; Infosys slips 1.5%

3:37 PM

Nifty 502:: Top 5 gainers & losers

3:36 PM

Closing Bell:: Nifty closes at 17,698, gains 38 points on Friday

3:34 PM

Closing Bell:: S&P BSE Sensex ends 130 points higher at 59,463

3:27 PM

BSE 500 Top Weekly Gainers:: Indraprastha Gas, BEML zoom over 20%

Indraprastha Gas and BEML zoomed over 21 per cent each and were the top weekly gainers among the BSE 500 stocks so far. They were followed by Tata Chemicals, JSW Energy and Metro Brands, up 15-18 per cent each.

3:21 PM

BSE 500 Top Weekly Losers:: Natco Pharma, Brightcom decline over 13%

Natco Pharma has slumped nearly 15 per cent and was the top weekly loser among the BSE 500 stocks so far. Similarly, Brightcom Group, KEC International, Graphite India and IPCA Labs have shed 10-13 per cent each.