Sensex soars 359pts, Nifty tops 21,250 amid broad buying; Inox India up 41%

Closing Bell on Thursday December 21: In the broader markets, the BSE MidCap and SmallCap indices outpaced frontline indices as they climbed 1.6 per cent and 1.69 per cent, respectively

Stock market highlights: Contrary to Wednesday's moves, equity markets started lower on Thursday but ended decently higher amid buying in shares of Reliance Industries, financials, metals,  and power stocks. 

The S&P BSE Sensex hit an intraday low of 69,920, but jumped 945 points from there to end at 70,865, up 359 points or 0.5 per cent vs previous close. 

Similarly, Nifty50 shut shop at 21,255, up 105 points or 0.5 per cent, after hitting an intraday low of 20,976.80. 

PowerGrid, HDFC Bank, Reliance Industries, Kotak Bank, Tata Steel, SBI, Titan, NTPC, IndusInd Bank, Ultratech Cement, Airtel, Tata Motors, and Wipro gained the most of the Sensex, rising 0.6 per cent to 2.3 per cent. 

In the broader markets, the BSE MidCap and SmallCap indices outpaced frontline indices as they climbed 1.6 per cent and 1.69 per cent, respectively.

Sectorally, all the indices ended higher led by the Nifty Media (up 2.6 per cent), the Nifty Metal (1.66 per cent), and the Nifty PSU Bank (1.68 per cent). 

4:05 PM

Comment :: 'Buy on dips strategy helped markets rebound'

After a subdued start, the market reversed from the day’s low amid buy-on-dips strategy. However, the overall trend is subdued, FIIs stayed muted ahead of festive break and global market traded on a negative note ahead of announcement of the US GDP data today.

Some consolidation is warranted in the near term due to peak valuation. A gradual rise in oil prices along with concern over high domestic food inflation may have a hindrance to the stretched rally of the last 2 months

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

3:51 PM

Comment :: 'Ample trading opportunity despite overall consolidation'

We expect consolidation in the index now; however there will be no shortage of trading opportunities on the stock-specific front.

Participants should align their trades accordingly and prefer sectors, which are showing relatively higher strength.

Apart from the domestic factors, the performance of the US markets would play a critical role in the next directional move so keep a close watch.  

Views by: Ajit Mishra, SVP - Technical Research, Religare Broking

3:44 PM

Currency check :: Rupee ends 10 paise weaker

3:42 PM

SmallCap Heatmap :: Index settles 1.7% higher; check top gainers and losers

3:41 PM

MidCap Heatmap :: Index ends 1.6% higher; SJVN, IRCTC lead

3:39 PM

Nifty Heatmap :: BPCL, HDFC Bank, Power Grid shine in Thursday's session

3:38 PM

Closing Bell :: Nifty reclaims 21,250 after testing 21,000 intraday

3:37 PM

Closing Bell :: Sensex bounces 945 pts off lows, ends 359 pts higher

3:23 PM

Hindustan Copper hits over 11-year high, surges 12% on stable outlook

Shares of Hindustan Copper hit over 11-year high of Rs 220.30 as they surged 12 per cent on the BSE in Thursday's intraday trade on the back of heavy volumes on stable outlook. In the past two months, it has zoomed 55 per cent. Moreover, in the past eight months, the stock price has more-than-doubled, skyrocketing 124 per cent. READ MORE

3:03 PM

Stock Market LIVE: Sensex up 300 pts, Nifty atop 21,200; HDFC Bk, RIL, SBI lead

Source: Investing.com

2:50 PM

Nov retail inflation rises 7.37% for farm workers, 7% for rural labourers

The benchmark for rural labourers increased 1 to 10 points in 11 states, climbed 11 to 20 points in five states and jumped more than 20 points in three states. READ MORE

2:38 PM

SBI to sign 200 mn euro LoC with EIB to support climate action projects

State Bank of India (SBI) on Thursday said it will sign a 200 million euro (about Rs 1,800 crore) Line of Credit (LoC) with the European Investment Bank (EIB) for supporting climate action projects in the country. READ MORE

2:25 PM

Global Check:: Asian markets end on a mixed note

Source: Yahoo Finance

2:12 PM

ALERT:: Royal Orchid Hotels opens new resort at Mahad; stock down 1%

Royal Orchid Hotels today announced opening of the 'Regenta Resort Sakleshpura: Jewel in the Westernm Ghats' at Mahad.

 

Regenta Resort Sakleshpura boasts 41 eclectic laterite, wooden, and green cottages, offering panoramic views of blue skies and verdant plantations, promising guests a unique holiday experience immersed in the fragrances of coffee and spices, the company said in an exchange filing.

1:58 PM

PE inflow in real estate declines 44% to $3 bn so far in 2023: Knight Frank

However, PE investments from Singapore have improved significantly, contributing more than 50 per cent to the total inflow. READ MORE