Sensex gains 147 pts; Nifty holds 17,500; Rupee hits record low of 83/$

CLOSING BELL: HDFC, Nestle India, ITC, RIL, Axis Bank, and Ultratech Cement were the top gainers

CLOSING BELL

Stock market highlights: After holding on to their gains for better part of the day, benchmark indices edged lower in the fag-end. The S&P BSE Sensex closed at 59,107, up 147 points or 0.25 per cent, extending its rally into fourth day. It hit an intra-day high of 59,400.
 

The Nifty50, meanwhile, ended at 17,512, up 25 points or 0.14 per cent. It hit an intra-day high of 176,608.

HDFC, Nestle India, ITC, RIL, Axis Bank, and Ultratech Cement were the top gainers, while Bajaj Finserv, NTPC, SBI, HCL Tech, Infosys, and Maruti Suzuki were the top laggards. 

ALSO READ: Markets may bottom out soon, but a sustained recovery is unlikely, says Nomura

In the broader markets, the BSE MidCap index gained 0.13 per cent, while the BSE SmallCap index dipped 0.03 per cent. Sectorally, the Nifty IT, and Metal indices fell up to 1 per cent, while the Nifty Oil & Gas index added 0.57 per cent. 

Stock picks for Samvat 2079

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4:16 PM

Market Comment:: US markets, dip in crude oil prices aid sentiment

"European markets interrupted their winning run after a 40-year high CPI in the UK. However, the strong US market due to healthy corporate result announcements is helping the domestic market to sustain the positive trend. Declining oil prices because of increased US supply and global economic slowdown are improving the sentiment for India."

 

- Vinod Nair, Head of Research at Geojit Financial Services

4:15 PM

Tech view: Trend likely to remain positive as long as Nifty holds above 17,400

"The benchmark index Nifty has ended above the previous consolidation high for the second consecutive session. The trend is expected to remain positive as long as the Nifty sustains above the crucial support of 17,400. On the higher end, resistance is visible at 17,700; above 17,700, the index may move towards 17,900. On the lower end, below 17,400, the index may drift down towards 17,250."

 

- Rupak De, Senior Technical Analyst at LKP Securities

4:12 PM

Bank Nifty view: Bank Nifty remains in a buy on dip mode, can rally up to 41,500

"The Bank Nifty index faces some selling pressure at the higher levels and failed to close above the level of 40,500. The options data indicates the resistance at 40,500 where the highest open interests are built up on the call side. The index once closes above 40,500 will witness a further up move towards 41,000-41,500 levels. The index remains in a buy-on-dip mode with strong support at the 40,000-39,800 zone."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities 

 

4:00 PM

PC Jeweller, Kalyan Jewellers may gain up to 40%, hint charts

On hopes of a bumper sales this Diwali season, shares of jewellery-related firms have been in focus so far this month. Will they see further upside. Here's what the charts say. READ MORE

 

3:58 PM

ITC gains 1.8% ahead of Q2 earnings

ITC ended near the day's high with a gain of 1.8 per cent a day ahead of its Q2 results. Analysts expect the company to deliver a strong set of earnings. READ MORE

3:56 PM

Axis Bank jumps 1.7% ahead of Q2 results

The stock scaled a high of Rs 838, and eventually ended with a gain of 1.7 per cent at Rs 830 a day ahead of its Q2 earnings report. READ EARNINGS PREVIEW

3:54 PM

Market Breadth at 2:1 was extremely positive; 132 stocks hit new 52-week high

3:52 PM

Piramal Pharma lists at Rs 202 on BSE; stock hits 5% lower limit

Shares of Piramal Pharma (PPL) listed at Rs 201.80 on the BSE, and eventually ended at the 5 per cent lower circuit at Rs 191.75. READ MORE

3:50 PM

Midhani hits new high on pact with Boeing for aerospace parts

Shares of Mishra Dhatu Nigam (Midhani) rallied to hit a new high of Rs 259.25 on the BSE in Wednesday’s intra-day trade amid reports that the company will work with Boeing India to develop raw materials for aerospace parts. READ MORE

3:41 PM

Broader indices move in sync with benchmark Nifty 50, pare gains at close

3:39 PM

Nifty 50:: Top FIVE gainers and losers on Wednesday

3:37 PM

Sensex 30 Heatmap:: ITC, Axis Bank shine a day ahead of Q2 results; IT stocks slip

3:35 PM

NSE Nifty 50 adds 25 points, settles at 17,512

3:33 PM

Closing Bell:: Sensex ends 146 pts higher at 59,107

The S&P BSE Sensex ended 146 points higher at 59,107 on Thursday led by gains in index heavyweights HDFC and Reliance Industries. The BSE benchmark index has now gained 1,872 points in the last four straight trading sessions.

3:29 PM

BSE 500:: Aegis Logistcis, PNB Housing, NCC among volume shockers

Aegis Logistics witnessed unusually high volume of around 4.02 lakh shares on the BSE so far as against its five-day average volume of around 28,370-odd shares. Similarly, PNB Housing, NCC, HDFC AMC and Lakshmi Machine Works also witnessed a significant spike in volume on Wednesday.