F&O expiry: Sensex rises 213 pts, Nifty holds 17,750; metals rally, IT slip

CLOSING BELL: Tata Steel, Power Grid, Sun Pharma, Axis Bank, Bharti Airtel, Kotak Bank, M&M, HDFC, Dr Reddy's Labs, and Titan were the leading winners

CLOSING BELL

Stock market highlights: Equity markets were volatile on Thursday as investors adjusted their positions due to monthly F&O expiry. The S&P BSE Sensex slipped from a high of 59,960 to hit a low of 59,497. It ended at 59,757, up 213 points or 0.36 per cent. 

The Nifty50, on the other hand, settled at 17,767, up 110 points or 0.58 per cent, after hitting an intra-day high of 17,784.

Tata Steel, Power Grid, Sun Pharma, Axis Bank, Bharti Airtel, Kotak Bank, M&M, HDFC, Dr Reddy's Labs, and Titan were the leading winners on the Sensex, up over 1 per cent each. Bajaj twins, Asian Paints, Nestle, Tech M, and Wipro were the laggards, down up to 2 per cent.

In the broader markets, the BSE MidCap and SmallCap indices gained 0.4 per cent each. Sectorally, the Nifty Metal index climbed over 3 per cent, while the Nifty IT fell 0.44 per cent.   

4:25 PM

Tech view: Nifty in consolidation mode

"The Nifty remained volatile during the day before closing on a flat note.  On the daily chart, the index has been consolidating for the last few days. However, the index has sustained above the crucial moving average on the daily timeframe confirming the  uptrend. On the higher end, the index may move towards 17,950. On the lower end, support is visible at 17,650/ 17,550."

 

- Rupak De, Senior Technical Analyst at LKP Securities

4:21 PM

Bank Nifty view: Bias to remain buy on dip as long as 40,500 holds

"The Bank Nifty index witnessed a range-bound trading session on the last day of the October series. The index immediate hurdle is seen at 41,500 where aggressive call writing has been witnessed and once breaches above that will see further short covering towards the 42,000 level. The index remains in a buy-on-dip mode as long as it holds the support of 40,500 where fresh put writing has been witnessed in the November series."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities 

4:16 PM

COMMENT:: Slowdown in rates hikes globally could be positive for India in 2023

"Weak signals from the global markets and elevated oil prices are challenging the domestic market to maintain its gains. The US IT giants' disappointing quarterly earnings served as the catalyst for selling in the US market. ECB is expected to aggressively increase rates by 75bps. Investors are expecting world central banks to slow down the pace of rate hikes, in the future, which could be positive for India in 2023."

 

- Vinod Nair, Head of Research at Geojit Financial Services

 

4:05 PM

Sun Pharma gains 2%, conquers Rs 1,000-mark after gap of over 7 years

Shares of Sun Pharmaceutical Industries hit a multi-year high of Rs 1,013 in Thursday’s trade on expectation of strong earnings growth. The stock of drug major crossed the Rs 1,000-mark after a gap of over seven years. It traded at its highest level since May 2015. READ MORE

4:03 PM

SJVN soars 11% on commissioning 75 MW solar power project in Uttar Pradesh

The stock of state-owned electric utilities company traded at its highest level since February 2018. READ MORE

4:02 PM

Dabur India jumps 3% on acquiring majority stake in Badshah Masala

Shares of Dabur India ended 3.2 per cent higher after the company acquired 51 per cent stake in Badshah Masala Private for Rs 587.5 crore (the balance 49 per cent stake would be acquired after five years). READ MORE

3:59 PM

Gland Pharma plunges nearly 15%, hits 52-week low on disappointing Q2 results

Shares of Gland Pharma hit a 52-week low of Rs 1,879.80 as they plunged 15.5 per cent on the BSE after the company reported a 20.14 per cent YoY decline in its consolidated net profit at Rs 241 crore for Q2FY23. READ MORE

3:54 PM

Market breadth was positive; 140 stocks hit new 52-week high on BSE

3:51 PM

Indian Rupee gains versus USD, ends at 82.50/$

Source: Bloomberg

3:49 PM

Nifty Metal Index jumps 2.7%; Jindal Steel, SAIL rally over 4%

3:48 PM

Nifty Realty Index surges 3%; Phoenix, DLF lead

3:46 PM

Nifty Next 50 index outperforms; India VIX declines 1.7%

3:44 PM

Nifty 50 Losers:: Bajaj Finserve, Bajaj Finance slip nearly 2% each

3:42 PM

Nifty 50 Gainers:: JSW Steel soars 5.7%; Hindalco, Tata Steel also shine

3:40 PM

Sensex 30 Heatmap:: 23 Gainers v/s 7 Losers