Fag-end buying lifts Sensex 114 pts, Nifty above 18,100; Metal index up 4%

CLOSING BELL: A late rally on Dalal Street helped the benchmark indices end a lacklustre trading session on a positive note. Metals, select financial shares led the pullback.

STOCK MARKET HIGHLIGHTS

The key benchmark indices ended a rather listless trading session near the high’s of the day on the back of smart gains in metals and select financial shares. 

The S&P BSE Sensex languished in the negative zone for the major part of the trading day, but eventually ended 114 points higher at 60,950 owing to the late buying. The NSE Nifty 50 settled with a gain of 64 points at 18,117.

Among the Sensex 30 shares, Bajaj Finserv surged 4.5 per cent to Rs 1,801. Tata Steel and UltraTech Cement vaulted 2.5 per cent each. SBI, Reliance Industries, Asian Paints and Bajaj Finance were the other major gainers.

On the other hand, Dr.Reddy’s slipped 1.5 per cent. Hindustan Unilever, Infosys and HDFC Bank were the other notable losers.

The broader market, however, ended on a mixed note. The NSE Midcap index was down 0.3 per cent, while the Smallcap index added 0.4 per cent. India VIX declined 1.8 per cent on Friday.

Sectorally, the NSE Metal index surged over 4 per cent. The PSU Bank and Media indices were up a per cent each. The Pharma index, however, slipped a per cent.

Among individual stocks, Adani Enterprises surged 6.7 per cent to Rs 3,832 after the company’s consolidated net profit for the quarter ended September (Q2FY23) more-than-doubled versus last year to Rs 461 crore. READ MORE

That apart, shares of Amara Raja Batteries soared 9.5 per cent after the company's net profit grew over 39 per cent YoY to Rs 201.22 crore in Q2FY23. READ MORE

Besides, shares of Hindustan Petroleum Corporation Limited (HPCL) shed 3.5 per cent to Rs 203.55 after the company posted a consolidated net loss of Rs 2,172.14 crore in Q2FY23. READ MORE

3:54 PM

COMMENT :: What all happened in the markets today

The Bank of England in its policy announcement, mirrored the Fed’s view, dashing hopes for a near-term policy softening. Though a late rebound was seen in the domestic market, it was largely in the red zone as the Pharma and IT sell-off continued due to concerns about the impending recession. The dollar surged along with the US Treasury yield following the hawkish remarks from global central banks, while FIIs continued their domestic support.

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

3:53 PM

TECH VIEW :: Nifty has near-term upside potential of 18,300/18,600

Indian equities remained volatile before closing around the day's high. The positive momentum continues as the index has closed above the previous swing high. Besides, the index has maintained its position above 200DMA. The momentum indicator RSI is in a bullish crossover. The trend for the short term remains bullish, with an upside potential of 18300/18600. On the lower end, support is pegged at 17950.

Views by: Rupak De, Senior Technical Analyst at LKP Securities

3:51 PM

CURRENCY CHECK :: Rupee ends stronger at 82.44/$

>> This is against Thursday's close of 82.89/USD

3:49 PM

IPO Update :: Global Health subscribed 34% so far on Day 2

3:48 PM

IPO Update : Bikaji Foods subscribed 55% so far on second day

3:47 PM

IPO Update :: Fusion microfinance subscribed 77% so far on final day

3:45 PM

Buzzing stock :: HPCL slides 3.5% on weak Q2 result

Shares of Hindustan Petroleum Corporation Limited (HPLC) slipped 4 per cent to Rs 203.55 on the BSE in Friday’s intra-day trade after the oil marketing company posted a consolidated net loss of Rs 2,172.14 crore in Q2FY23 (2022-23). The stock was now trading closer to its 52-week low of Rs 200, recorded on October 20, 2022.

3:44 PM

Buzzing stock :: Karnataka Bank extends gains, surges 14%

Shares of Karnataka Bank hit a multi-year high of Rs 143 as they surged 19 per cent on the BSE in Friday's intra-day trade, in an otherwise range-bound market, amid heavy volumes. In the past three trading days, the stock of the private sector bank has zoomed 52 per cent.

3:43 PM

Buzzing stock :: Adani Enterprises ends near record high; stock up 6.5%

Shares of Adani Enterprises surged to Rs 3,850 in Friday’s intra-day trade and extended its gain to fourth straight day, after the company’s consolidated net profit for the quarter ended September (Q2FY23) more-than-doubled versus last year to Rs 461 crore. The company’s consolidated revenue, too, climbed nearly threefold year-on-year (YoY) to Rs 38,175 crore. 

3:40 PM

Broader market check :: BSE SmallCap index outperforms large, midcap indices

3:38 PM

Broader market check :: BSE MidCap index ends wee bit in green

3:37 PM

Sectoral trends :: Metals, PSBs shine in a lackluster market

3:34 PM

Sensex Heatmap :: Bajaj Finserv jumps 4%, Ultratch Cement 2%

3:33 PM

CLOSING BELL :: Nifty swings above 18,100

3:32 PM

CLOSING BELL :: Fag-end buying lifts Sensex