Stock Market Highlights, April 22: Sensex sprints 560 pts, Nifty tops 22,300 in broad relief rally

Stock market highlights on April 22: Among sectors, the Nifty PSU Bank index rallied 3.3 per cent, the Nifty Realty 1.12 per cent, and the Nifty Pharma index 1.5 per cent

Closing Bell on Monday, April 22: Indian equities moved higher on Monday as a relief rally enveloped domestic and global markets alike. The S&P BSE Sensex settled 560 points, or 0.77 per cent, higher at 73,649, while the Nifty50 ended at 22,336, up 189 points or 0.86 per cent.

Axis Bank, L&T, Ultratech Cement, Bajaj Finance, Wipro, ICICI Bank, Nestle India, SBI, Infosys, Tech M, and Asian Paints were the top gainers on the 30-share index, adding 1-3 per cent.

On the downside, NTPC, HDFC Bank, and JSW Steel were the only top laggards, down up to 2 per cent.

In the broader markets, the BSE MidCap index gained 0.9 per cent, while the BSE SmallCap index advanced over 1.3 per cent.

Among sectors, the Nifty PSU Bank index rallied 3.3 per cent, the Nifty Realty 1.12 per cent, and the Nifty Pharma index 1.5 per cent. 

3:57 PM

Indian market extended last Friday's relief rally as Middle East tension saw some respite

The Indian market extended last Friday's relief rally as Middle East tension saw some respite, though the situation remains fluid. The recovery was broad-based across sectors, with renewed interest in mid- and small caps. Gold and oil prices showed some relief but are still at elevated levels. Hawkish remarks from the US FED, driven by persistent inflation and robust economic data, spurred a rally in bond yields. The prevailing higher interest rate environment is expected to persist longer than expected which, along with the moderating earnings growth, suggests a continuation of the consolidation in the near-term: Vinod Nair, Head of Research, Geojit Financial Services.

 

 

3:56 PM

Bulls continued to dominate the market as the Nifty gained for the second consecutive session

Bulls continued to dominate the market as the Nifty gained for the second consecutive session. The trend has turned positive after reclaiming a critical near-term moving average. Sentiment is expected to remain favourable for bulls as long as it stays above 22,150. On the upside, the index could potentially move towards 22,600-22,700. Conversely, a drop below 22,150 could lead to consolidation in the index: Rupak De, Senior Technical Analyst, LKP Securities

 

3:54 PM

Rupee settles 0.12% lower at 83.3687 against US Dollar

3:51 PM

In broader markets, SmallCap jumped 1.31% while MidCap soared 0.82%

3:49 PM

Sectorally, Nifty PSU Bank topped the chart, followed by consumer durables

3:45 PM

L&T was the top gainer on 30-share Sensex, followed by Axis Bank

3:42 PM

Nifty settles 0.59% higher at 22,277.55 levels

3:39 PM

Sensex settles 0.77% higher at 73,648.62 levels

3:31 PM

This Rekha Jhunjhunwala-owned stock zoomed over 100% since November

Rekha Jhunjhunwala, wife of ace investor Rakesh Jhujhunwala, owns 5 million equity shares or 8.04 per cent stake in WABAG. Currently, her stake is valued around Rs 500 crore.Meanwhile, retail individual shareholders hold nearly half or 49.64 per cent stake in Wabag at the end of March 2024 quarter, the shareholding pattern data shows. READ MORE

3:23 PM

Sustained growth of 7% feasible for India: RBI MPC member Shashanka Bhide

"(India's economic) Growth in the current year is likely to be supported by agriculture with a favourable monsoon and improved global trade. Sustaining the growth momentum of 7 per cent seems feasible," he told PTI. READ MORE

3:10 PM

Shares of Vodafone Idea slide 6% on the last day of Rs 18,000 crore FPO

The company's FPO has been oversubscribed by 3.40 times as of 02:30 PM on Friday. The subscription was led by Qualified Institutional Buyers (QIBs) subscribing the issue 8.71 times. READ MORE

3:02 PM

Panama Papers: From Singapore to Switzerland, which are the top tax havens?

The Panama Papers are back in the news after the public portion of a trial involving more than two dozen associates accused of helping some of the world's richest people hide their wealth came to an unexpectedly speedy conclusion on Friday. READ MORE

2:49 PM

Sterling and Wilson Renewable soars 10% as it logs profit after 12 quarters

As SWREL comes back stronger, the management said they remain confident of delivering an improved performance in terms of growth and revenues over the next few quarters. READ MORE

2:36 PM

Vodafone Idea's Rs 18,000 cr FPO gets over the line; issue subscribed 1.5x

VIL has already allotted 4.9 billion shares to anchor investors, which includes GQG Partners Fidelity, Stichting, Redwheel, Motilal Oswal Mutual Fund and Troo Capital. READ MORE

2:23 PM

Voltas stock price today up 5% on UBS upgrade; Whirlpool on a roll too

Shares of household appliances companies Voltas and Whirlpool of India rallied by up to 7 per cent on the BSE in Monday’s intra-day trade on improved outlook. READ MORE

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