F&O expiry: Sensex ends at record closing peak, up 762pts; Nifty near 18500

CLOSING BELL: A surprise dovish tone by the US Federal Reserve, where it said that the central bank is looking to slow the pace of rate hike, cheered market bulls

CLOSING BELL

Stock market highlights: A surprise dovish tone by the US Federal Reserve, where it said that the central bank is seeing progress in its fight against high inflation and is looking to slow the pace of rate hikes, cheered market bulls. 

The S&P BSE Sensex staged a sharp uptick in the fag-end of the session, surging nearly 900 points to hit a fresh lifetime high of 62,412, before it settled at 62,273, higher by 762 points, or 1.24 per cent, relative to Wednesday's close.

The NSE Nifty50, too, topped the 18,500 level in the intra-day trade before it closed at 18,484, up 217 points or 1.19 per cent.

Infosys, Power Grid, Wipro, Tech M, HCL Tech, TCS, HDFC, Sun Pharma, HUL, and M&M were the top Sensex winners, rising between 1.5 per cent and 2.7 per cent. On the downside, Kotak Bank, Bajaj Finance, Bajaj Finserv, and Tata Steel were the only losers, down up to 0.5 per cent.

In the broader markets, the BSE MidCap and SmallCap indices added 0.5 per cent, and 0.4 per cent, respectively. Among sectors, the Nifty IT index jumped 2.6 per cent, while Nifty FMCG and Financial Services index gained little over 1 per cent.

The Nifty Bank index, which settled 0.8 per cent higher, had hit a record high of 43,163.4 during the day. 

4:23 PM

Tech view: Immediate support for Nifty shifts higher to 18,350 now

"The Nifty started higher and extended gains during the day. The daily momentum indicator RSI remains in a positive crossover. The trend looks positive as long as it sustains above 18,350 Going forward, 18,350 may provide immediate support. On the higher end, resistance is visible at 18,650, above which Nifty may move up further."

 

- Rupak De, Senior Technical Analyst at LKP Securities

4:16 PM

COMMENT:: HDFC twins, Infosys led market rally; Sensex tops 62,000-mark

"Two triggers assisted the Sensex rally to record highs. One, in the mother market US, the market construct turned favourable with rising equities, declining bond yields and falling dollar. Two, macro developments in India show steady rise in credit growth and capex indicating strong economic recovery. Along with this, sharp correction in crude is a big positive. This has facilitated this Sensex rally led by large-caps, mainly the HDFC twins, Infosys, TCS and RIL."

 

- Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

4:12 PM

COMMENT:: Hopes of slower rate hikes in US, dip in Crude Oil lift sentiment

"Led by broad-based buying, domestic indices witnessed solid gains as investors digested the latest FOMC meeting minutes, which hinted that the rate hike cycle may be slowing down. The optimism was further boosted by falling crude prices and the declining dollar index. Crude oil prices dropped over talks of a possible price cap on Russian oil and a rise in US product stockpiles"

 

- Vinod Nair, Head of Research at Geojit Financial Services

4:03 PM

Keystone Realtors makes quiet debut, ends almost on par to issue price

Keystone Realtors, which runs the real estate brand Rustomjee, made a quiet debut on the bourses, with its shares listed at Rs 555, a 3 per cent premium to its issue price of Rs 541 per share on the NSE and the BSE. Analysts, however, see long-term value in the stock. READ MORE

4:00 PM

Fino Payments zooms 36% in 2 days as Capri Global buys 1.3 mn shares

On Wednesday November 23, Capri Global Holdings Private Limited bought 1.32 million shares representing 1.59 per cent of total equity of Fino Payments Bank via open market deals.  READ MORE

3:58 PM

Bikaji Foods hits new high, surges 10% for the second straight day

On November 16, Goldman Sachs India Equity Portfolio purchased 1.74 million equity shares of Bikaji Foods at Rs 324.50 per share via open market deals. READ MORE

3:56 PM

Bank of India hits 17-month high on positive outlook; zooms 80% in 6 weeks

Shares of Bank of India rallied 5 per cent to hit a 17-month high of Rs 83.25 on the BSE in Thursday’s trade on a positive outlook. The stock of the state-owned lender was quoting at its highest level since June 2021. READ MORE

3:51 PM

Rupee ends stronger at 81.6275, up 22 paise versus the $

Source: Bloomberg

3:49 PM

Market breadth positive; 134 stocks hit new 52-week high on BSE

3:47 PM

Nifty PSU Bank extends rally, gains another 1%; Union Bank up 4%

3:45 PM

Nifty IT index soars 2.6%; Infosys, HCL Tech surge around 3%

3:43 PM

Broader markets also log steady gains; India VIX slips 4%

3:40 PM

Nifty 50 Losers:: Only FIVE losers - Cipla the sole notable

3:38 PM

Nifty 50 Gainers:: Apollo Hospitals, HDFC Life top gainers, up 4.5%

3:37 PM

Sensex 30 Heatmap:: As many as 28 stocks finish with gains; IT shares lead