Sensex gains 179 pts, Nifty holds 21,700 after a choppy ride; IT stocks up

Closing Bell on January 5, 2024: In the broader markets, the BSE MidCap index added 0.19 per cent, while the BSE SmallCap index gained 0.61 per cent

Stock market highlights: Equity markets turned choppy in late deals on Friday as investors booked profit in pharmaceutical, and metal stocks. 

The S&P BSE Sensex, for instance, hit a high of 72,156, but erased gains to hit a low of 71,780, swinging 376 points in the process. It, eventually, ended at 72,026, up 179 points or 0.25 per cent. 

The Nifty50, similarly, oscillated 120 points intarday. It settled at 21,711, up 52 points or 0.24 per cent. 

Nestle India, Sun Pharma, JSW Steel, Kotak Bank, NTPC, Asian Paints, Tata Motors, Tata Steel, ITC, Titan Company, HDFC Bank, and IndusInd Bank were the top laggards today.

In the broader markets, the BSE MidCap index added 0.19 per cent, while the BSE SmallCap index gained 0.61 per cent. 

4:00 PM

Tech View :: 'Conclusive close above 21,750 levels could propel Nifty towards 22,000'

Following a rapid rebound from its positional support at 21,500, bullish activity has resumed in the market, with buying interest evident during dips.

The prevailing sentiment is bullish, but Nifty encounters initial resistance at 21,750, facing selling pressure. Immediate support rests at 21,600.

A conclusive close above 21,750 levels could propel Nifty towards the 22,000 mark, signaling further upward movement.

Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

3:51 PM

Comment :: 'Expect the exuberance of the broader index to be tested this earnings season'

The market ended on a flat note, tracking weak global cues, with the US 10-year yield edging higher ahead of the release of US payroll data later today, which may shape the expectation for the FED policy.

Investors are also staying cautious ahead of eurozone inflation data today.

On the domestic front, the market is moving towards the results season, and we expect the exuberance of the broader index may be tested if the December quarter earnings do not justify the valuation.

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

 

3:41 PM

Currency check :: Rupee ends 7 paise higher at 83.16/$

3:40 PM

SmallCap Heatmap :: Index outshines peers, adds 0.6%

3:39 PM

MidCap Heatmap :: Index ends 0.2% higher; check top gainers and losers of the day

3:38 PM

Nifty Heatmap :: Nestle, Britannia end lower; TCS, LTIM, Infy surge

3:37 PM

CLOSING BELL :: Nifty back above 21,700

3:36 PM

CLOSING BELL :: Sensex holds gains of 179 points

3:30 PM

Suzlon gains 5% on securing 225 MW order from Everrenew Energy

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3:16 PM

Crypto wrap: Markets highly volatile as ETF rumours take centre stage

The experts, however, continued to be positive about the chances of approval of Bitcoin ETF. According to Bloomberg, the chances are as high as 90 per cent. READ MORE

3:02 PM

Global check:: US, UK stock futures in red, down up to 0.9%

Source: Investing.com

2:51 PM

Home loans' share of retail segment decline to 47.2% in Nov, shows data

The share of home loans in retail advances of banks in November declined to 47.2 per cent from 48.7 per cent a year ago while that of unsecured loans gained.  Home loans constituted over 50 per cent in retail loans in 2021. READ MORE

2:40 PM

UK economy to hit 2% inflation target by spring in upgraded outlook

The UK economy is set for a spring boost as inflation falls below the 2% target, the Bank of England cuts interest rates and the current period of stagnation comes to an end, according to forecasts by Bloomberg Economics. READ MORE

2:29 PM

State-run banks look to equity fundraising as perpetual bonds lose sheen

Diminishing lure for perpetual bonds is likely to prompt Indian state-run banks switch to the equity market for raising funds in coming months, five banking sources told Reuters this week. READ MORE

2:17 PM

Market check:: Sensex slips into red, down 350 pts from day's high