Easing inflaton lifts Sensex 742 pts, Nifty atop 19,650; Realty, IT lead

Closing Bell on November 15, 2023: Tech M, Wipro, Tata Steel, Infosys, Tata Motors, JSW Steel, TCS, Reliance Industries, Axis Bank, ITC, HCL Tech, and HDFC Bank were top Sensex gainers

Stock market highlights: Softer-than-expected inflation readings from India and the US lifted the S&P BSE Sensex 742 points, or 1.14 per cent, to end at 65,676 levels on Wednesday. The Nifty50, on the other hand, surged 232 points, or 1.19 per cent, to shut shop at 19,676. 

A soft inflation reading, especially in the US, led to the strong rally in the domestic and global markets as investors grew confident the Fed may wrap its rate hike cycle, which will also taper the hot treasuries. READ MORE

Tech M, Wipro, Tata Steel, Infosys, Tata Motors, JSW Steel, TCS, Reliance Industries, Bharti Airtel, Axis Bank, ITC, Kotak Bank, HCL Tech, and HDFC Bank were the top Sensex gainers today, rallying between 1 per cent and 4 per cent. 

The broader markets, too, rose in tandem with the benchmarks with the BSE MidCap index adding 0.90 per cent, and the BSE SmallCap index up 1.13 per cent.

Among sectors, the Nifty Realty index zoomed 2.95 per cent on the bourses, followed by the Nifty IT index (up 2.59 per cent), the Nifty Auto (up 1.7 per cent each), and the Nifty Financial Services (up 1.2 per cent).

3:57 PM

Tech View :: 'Bullish trend to sustain in Nifty till it holds 19,500'

Nifty50
On the daily chart, the index has shown significant upward momentum after a consolidation phase, indicating an increase in optimism. The overall trend appears positive, with the index consistently maintaining levels above the critical moving average. Looking ahead, bullish sentiment is likely to persist as long as the index remains above 19,500. On the upper side, resistance is anticipated in the range of 19,700 to 19,850.

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

3:54 PM

Comment :: 'Easing inflation to bring FPI flows back to India'

The market's strong gap-up jump in response to positive global cues on account of the softer than anticipated US and UK's inflation data, highlights the optimism for an end to the interest rate cycle, as evidenced by the ease in bond yields.

This is likely to draw FII flows into emerging markets, which is good for India considering the current better earnings season and the festive demand pick-up.

The drop in the CPI for India also improved the mood. The rebound was broad based with IT, realty, oil & gas, metal, and auto leading the way.

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

3:45 PM

Currency check :: Rupee ends 19 paise higher at 83.14/$

3:43 PM

SmallCap Heatmap :: Index outshines peers, gains 1.13%

3:42 PM

MidCap Heatmap :: Index gains 0.9% led by Solar Industries, Oberoi Realty

3:40 PM

Sectoral trends :: Realty index gains 3%, IT index 2.6%

3:38 PM

Sensex Heatmap :: Only 3 stocks settle lower; Tech M up 4%, RIL 2%

3:37 PM

CLOSING BELL :: Nifty atop 19,650

3:36 PM

CLOSING BELL :: Sensex zooms over 700 pts

3:29 PM

Bond Market :: Yields on 10-year G-Sec ease as inflation eases

3:19 PM

India to emerge as third largest global economy by 2027: FM Sitharaman

Amidst supply-chain disruptions and economic turbulence due to contemporary conflicts that impact the Indo-Pacific, irrespective of whether they are occurring in relatively distant Ukraine or in relatively-proximate Israel or Yemen, and despite the palpable tensions prevalent in the South- and East China Sea, the Indian economy stands out as a bright spot, she said. READ MORE

3:04 PM

Global check:: Dow Jones, Nasdaq futures gain up to 0.3%

Source: Investing.com

2:54 PM

ALERT:: Knowledge Marine wins Rs 66 cr order; stock down 5%

Knowledge Marine & Engineering Works in an exchange filing said, Knowledge Dredging Co. W.L.L., Bahrain, its subsidiary, has received Letter of Intent (LOI) from Nass Corporation B.S.C. for the work of 'Supply and Sale of Dredged Marine Sand' for an amount of 3.01 million Bahraini Dinar (approx. Rs 66.38 crore) for a period of 5 Years. 

2:43 PM

Siemens rises 4% as German parent to buy additional 18% stake for $2.28 bn

Shares of Siemens climbed 4 per cent to Rs 3,566.5 apiece on the BSE in Wednesday's intraday trade after its German parent Siemens Aktiengesellschaft (Siemens AG) announced to acquire an 18 per cent additional stake in the company for 2.1 billion euros ($2.28 billion). READ MORE

2:32 PM

Domestic air traffic to rise 11% in Oct as leisure, biz travel increases

The rise in both leisure and business travel, coupled with a decline in crude oil prices and capacity deployment, is expected to add to the growth in passenger traffic. READ MORE