Sensex ends choppy day 108 pts up; Adani group stocks tumble, defence rally

CLOSING BELL: The S&P BSE Sensex is now just 265 points shy from its all-time 62,245 registered on October 19, 2021.

4:07 PM

COMMENT :: 'The recent move in the index lacks decisiveness and shows an early sign of exhaustion'

After the initial downtick, the Nifty index oscillated in a narrow range till the end and finally settled at 18,409 levels. Meanwhile, sectoral indices traded mixed wherein metal, media and realty lost over a percent each. Besides, the prevailing underperformance of the broader indices continues to weigh on the sentiment.  

 

The recent move in the index lacks decisiveness and shows an early sign of exhaustion too however we recommend following the trend until it reverses. We’re seeing select heavyweights and midcap counters attracting buying interest while the rest are either trading in a range or witnessing pressure.  We feel it’s prudent to restrict positions and focus on overnight risk management.

Views by: Ajit Mishra, VP - Research, Religare Broking

3:53 PM

COMMENT :: 'Domestic markets can behave cautious in the short to medium-term'

As the domestic market has started to trade around the all-time high levels it is trending indecisively following the recent geopolitical tensions and weak performance by global counterparts. Although domestic macroeconomic indicators and FII inflows are favourable, given the high valuations, domestic markets can behave cautious in the short to medium-term. Rest of the other EMs look more attractive when the global market is attempting to bounce back after a long period of consolidation.

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

 

3:50 PM

Currency check :: Rupee ends lower at 81.30/$

>> Rupee ends weaker against Tuesday’s close of 81.10/$

Source: Bloomberg

3:49 PM

BSE Stats :: Market breadth favours sellers

3:48 PM

IPO Update :: Keystone Realtors garners nearly 2x subscription till 3:30 PM on final day

3:46 PM

Buzzing stock :: Bikaji Foods rises 6% vs issue price

3:45 PM

Buzzing stock :: Global Health rallies 24% against issue price

3:44 PM

Buzzing stock :: HAL surges 6% on order win from Indian Coast Guard

3:41 PM

Buzzing stock :: Nykaa sinks 5% amid heavy volume

3:40 PM

Buzzing stock :: Adani Group declines in late deals; Adani Green slides 4%

3:38 PM

BSE SmallCap index dips 0.34%; Hudco, Atul Auto surges up to 14%

3:37 PM

BSE MidCap index falls 0.66%; SAIL, Muthoot Finance top laggards

3:36 PM

Sectoral trends :: Nifty Metal falls 2%; Nifty Bank gains 0.4%

3:34 PM

Sensex Heatmap :: Kotak Bank, HUL, Dr Reddy's Labs lend support; Bajaj twins, Tata Steel drag

3:33 PM

CLOSING BELL :: Sensex advances 100 pts after swinging between gains and losses through the day

3:33 PM

CLOSING BELL :: Nifty settles unchanged

3:26 PM

Sebi plans to put in place cyber security framework for stock brokers

Sebi is planning to come out with a cyber security framework for stock brokers that will help in reducing the impact of potential risks by cyber fraud, data leaks and hacking of trading accounts, a top official said on Wednesday. READ MORE

3:15 PM

Global Check:: US, UK stock futures marginally changed

Source: Investing.com

3:04 PM

Brokerages see margin expansion at auto firms as outlook turns positive

Brokerages expect margins of auto companies, particularly passenger vehicle makers, to expand in the quarters ahead due to softer raw material prices and higher volumes, as the chip shortage eases in the third quarter. Many of the companies have seen an upward revision in their estimates by the brokerages, as a result. READ MORE

2:54 PM

Market Check:: Nifty Metal index drops 2.7%; Adani Enterprises, SAIL slide

2:45 PM

Build an equity-heavy portfolio for your child's higher education goals

In a recent ruling, the Supreme Court upheld an Andhra Pradesh High Court judgement that had quashed the state government’s decision to enhance the tuition fee in medical colleges to Rs 24 lakh a year, seven times the fee fixed earlier. READ MORE

2:34 PM

HAL gets LoI for 9 helicopters from Indian Coast Guard; stock rallies 7%

Shares of Hindustan Aeronautics jumped 7 per cent to hit an all-time high of Rs 2,697.70 in Wednesday’s intra-day trade amid heavy volumes after the company received a letter of intent (LoI) for nine more advanced light helicopters (ALH) Mk-III from the Indian Coast Guard (ICG). READ MORE

2:25 PM

BSE 500:: Top losers so far

Metropolis Healthcare down 7.7 per cent was the top loser among the BSE 500 stocks so far. Apollo Tyres, Latent View, Star Cement and Indiabulls Housing were the ther major losers, down 4 - 6 per cent each.

2:15 PM

Market Check:: Broader indices in red; Midcap down 0.4%

2:06 PM

India takes over G20 presidency for 2023, PM Modi extends invitation

As the G20 Summit in Bali ended on Wednesday, Indonesia handed over the presidency for the coming year to India. Prime Minister Narendra Modi, who took over the "key" from Indonesian president Joko Widodo extended the invitation to all the member countries. India will officially assume the presidency on December 1. READ MORE

1:57 PM

BSE 500:: Top gainers so far

HUDCO has zoomed 16 per cent and was the top gainer among the BSE 500 stocks so far on Wednesday. It was followed by TCNS Clothing Company, Finolex Industries, Hindustan Aeronautics and Ircon International, up 6 - 8 per cent each.

1:47 PM

Sensex 30 Heatmap:: Pvt banks gain; Bajaj twins slip

1:40 PM

Global Check:: Asian markets mostly in red, down up to 0.5%

Source: Yahoo Finance

1:24 PM

ALERT :: Metropolis Healthcare slumps 7% amid reports of I-T search action

>> I-T Dept searches likely underway At Metropolis Path Labs in Mumbai

1:11 PM

Podcast | Why is the RBI governor worried about deposit growth?

Gauging the sustainability of the robust credit growth seen by the sector and examining the slow growth in deposits will be on the agenda. Against this backdrop, let us understand why deposit growth has become a cause for concern. LISTEN TO THE PODCAST