Sensex leaps 491 pts, Nifty tops, 21,650; Realty index up 7%, Bajaj Fin 4%

Closing Bell on January 4, 2024: The Nifty Realty index jumped 6.76 per cent, followed by the Nifty Financial Services, Bank, and Private Bank indices (up over 1 per cent each)

Stock market highlights: Defying global weakness, equity markets edged higher Thursday in a broad-based rally. The S&P BSE Sensex soared 491 points, or 0.69 per cent, to end at 71,848 levels, while the Nifty50 ended 141 points, or 0.66 per cent, higher at 21,659 levels.

Bajaj Finance (up 4.25 per cent), NTPC, ONGC, Tata Consumer Products, IndusInd Bank, Adani Ports, Power Grid, Tata Motors, Axis Bank, Nestle India, HDFC Life, Bajaj Finserv, HDFC Bank, Sun Pharma, Infosys, and Titan Company were the top gainers on the 50-stock index. 

The broader markets, meanwhile, outperformed the benchmarks with the BSE MidCap index up 1.5 per cent, and the BSE SmallCap index rising 1 per cent.

Among sectors, the Nifty Realty index jumped 6.76 per cent, followed by the Nifty Financial Services, Bank, and Private Bank indices (up over 1 per cent each), and the Nifty FMCG index (up 0.86 per cent). 

3:51 PM

Comment :: 'More consolidation ahead likely'

Feeble global cues combined with mixed trends across heavyweights are pointing towards further consolidation in the index. Traders should continue with stock-specific trading approach, with a focus on overnight risk management. 

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

3:46 PM

Tech View :: 'Bank Nifty may hit 50,000'

The Bank Nifty witnessed a robust comeback by the bulls, decisively surpassing the hurdle at 48,000 on a closing basis.

This breakthrough confirms the resumption of the uptrend, indicating a potential move towards the target of 50,000.

The bullish crossover in the RSI further supports the positive momentum.

In case of any pullback, the index has a solid support at 47,700, serving as a cushion for the bulls

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

3:44 PM

Currency check :: Rupee ends 6 paise higher at 83.23/$

3:43 PM

SmallCap Heatmap :: Index rises 1% led by Steel Exchange, Reliance Power

3:41 PM

MidCap Heatmap :: Index advances 1.5%; Lodha, Torrent Power rally up to 9%

3:40 PM

Nifty Heatmap :: Bajaj Fin, TCP, ONGC surge in trade

3:39 PM

CLOSING BELL :: Nifty50 reclaims 21,650

3:37 PM

CLOSING BELL :: Sensex snaps 2-day losing run, rises 491 pts

3:30 PM

Nifty Realty soars 6% in sharpest single-day rally since October 2021

On October 7, 2021, the index had rallied 6.2 per cent. Today, it was quoting at its highest level since June 2008, BSE data showed.  READ MORE

3:23 PM

ALERT :: LTIMindtree integrates Syncordis, Nielsen+Partner to form Banking Transformation Practice

>> LTIMindtree has announced integration of its subsidiaries -- Syncordis and Nielsen+Partner -- to form a specialised Banking Transformation Practice (BTP)

>> Through this integration, LTIMindtree aims to combine complementary capabilities of two successful companies with a proventrack record in delivering industry-leading growth.

>> LTIMindtree's BTP will offer customers significantly enhanced product/platform capabilities, a more diverse set of end-to-end, core-to-consumer offerings further augmented by deeper industry partnerships and a highly skilled talent pool.

Source: BSE Filing 

3:13 PM

IndiGo removes surcharge after 3 months as aviation fuel prices decline

"As ATF prices are dynamic, we will continue to adjust our fares and components thereof, to respond to any change in prices or market conditions. IndiGo remains committed to its promise of providing affordable, on-time, courteous, and hassle-free travel for our customers," said the airline. READ MORE

3:00 PM

Global check:: US, UK stock futures marginally up

Source: Investing.com

2:48 PM

India may surpass FY24 target for state-run firms' dividends by Rs 12K-cr

So far this fiscal, India has received Rs 43,800 crore in dividends from state-owned firms, according government data. READ MORE

2:32 PM

As Jio Fin awaits MF biz licence, this brokerage sees 24% upside in stock

On the bourses, shares of Jio Financial Services advanced 3.2 per cent to Rs 242 apiece on the BSE in Thursday's intraday trade. READ MORE

2:19 PM

Emerging markets brace for wave of elections, fiscal discipline at stake

For investors, elections divide into three categories: Those where the outcome is rather obvious, such as Russia or Venezuela; those where it seems clear but ballot is contested, for example India. READ MORE