Sensex ends 563pts up at 60,656, Nifty above 18,050; L&T, HUL rise up to 3%

CLOSING BELL: Broader markets, however, underperformed benchmark indices as Nifty SmallCap 100 and Nifty MidCap 100 indices dropped up to 0.1 per cent

CLOSING BELL

Despite a tepid global mood, domestic markets edged higher in Tuesday's trade after wholesale inflation dropped to a 2-year low of 4.9 per cent in December and oil refiners rose in trade after the government slashed windfall tax on crude and aviation fuel.

Key indices Nifty50 closed at 18,053 levels, up 158 points or 0.8 per cent, whereas the S&P BSE Sensex closed at 60,656 levels, up 563 points or 0.9 per cent. 

Broader markets, however, underperformed benchmark indices as Nifty SmallCap 100 and Nifty MidCap 100 indices dropped up to 0.1 per cent. India VIX, the volatility gauge, meanwhile, eased below 2 per cent.

Sectorally, Nifty FMCG, Nifty Realty, and Nifty IT logged the most gains, up to 1 per cent. However, Nifty PSU Bank, and Nifty Media indices lost the most, up to 1 per cent.

Among individual stocks, shares of Larsen & Toubro (L&T) soared 4 per cent to hit a new high of Rs 2,214, on expectation of strong order inflows and improved execution. READ MORE

Besides, shares of Speciality Restaurants rallied 11 per cent to hit a new high of Rs 278.50 ahead of its extra-ordinary general meeting (EGM) on Wednesday, January 18, 2023. READ MORE

GLOBAL CHECK

The US equity futures slumped in Tuesday's trade ahead of corporate earnings. Dow Futures, the S&P 500 Futures, and NASDAQ Futures skid up to 0.3 per cent.

European markets, too, were muted this noon, as Stoxx 600, FTSE 100, and CAC 40 indices dropped up to 0.1 per cent.

4:06 PM

NIFTY VIEW: Index closing above 20-DMA signals strength

The Nifty witnessed a late surge, which helped it to close with gains of 158 points. More importantly it has managed to close above the 20 day moving average (18035), which is a sign of strength.

The daily and hourly momentum indicator has a positive crossover, which is a buy signal. Thus, all parameters are suggesting towards a sharp up move over the next few trading sessions.

In terms of levels 17880 – 17850 shall act as a crucial support zone while 18280 – 18300 shall act as an immediate hurdle zone for the Nifty.

Views by Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas

4:03 PM

CLOSING VIEW: Q3 updates/results from IT, Banking majors encouraging

The domestic market is attempting to gain, in comparison to its weak YTD performance, which was caused in anticipation of a soft Q3 result & union budget.

We started the third quarter results on a shaky note, but the latest set of financial announcements from IT and banking blue chips are encouraging.

Heavy weights are also pushing the counter, including the fact of the fall in windfall tax. Given the positive undercurrents, the trend should continue in the short term. However, a lot will depend on the second line of Q3 results, the budget outcome, and the Fed policy statement.

Views by Vinod Nair, Head of Research at Geojit Financial Services.

4:01 PM

Rupee weakens to end at 81.76/$ vs Monday’s close of 81.61/$

4:00 PM

NALCO edges 1% up on declaring Rs 1 per share dividend for FY23

3:58 PM

Bank of India sheds 5%; Q3 gross & net NPAs rise QoQ

3:56 PM

New age stocks slump; Zomato, Paytm tank 5% each

3:53 PM

Gland Pharma slips 3% as 0.33% equity changes hands on bourses

5.52 lakh shares (0.33% equity) worth Rs 78.55 crore changed hands at an average of Rs 1,420/share

3:50 PM

National Standard gains 90% in last 5 sessions

3:47 PM

Nykaa at new low; closes 5% lower on heavy volumes

3:45 PM

Macrotech Devlopers, NHPC lead midcap winners; BOI, Gland Pharma top drags

3:43 PM

Frontline gains escape broader market; Mid-smallcaps close muted

3:40 PM

NIFTY DRAGS: SBI sheds 1.6% to lead index losers

3:39 PM

NIFTY GAINERS: L&T rises nearly 4%; HUL 3%

3:37 PM

HEATMAP: RIL, HDFC twins, L&T make up for most of Sensex gains

3:35 PM

CLOSING BELL: Nifty closes above 18,050; 13 of 50 stocks end with weakness