Sensex gains 307 pts, Nifty holds 19,750; IT stocks dazzle, PSBs decline

Closing Bell on November 16, 2023: Among sectors, the Nifty PSU Bank index fell 0.24 per cent, the Nifty FMCG 0.15 per cent, and the Nifty Bank 0.09 per cent

Stock market highlights: A solid trading session saw a relatively weak close as fag-end selling in banking stocks weighed on the bourses. The benchmarks, however, settled higher for a second consecutive session.

The S&P BSE Sensex advanced 306.5 points, or 0.47 per cent, to end at 65,982.5 after hitting an intraday high of 66,358. The Nifty50, meanwhile, closed below the 19,800-mark at 19,762.5, higher by 87 points or 0.44 per cent. It hit an intraday high of 19,875.

Hero MotoCorp, Tech M, HCL Tech, Tech M, Infosys, Bajaj Finserv, Dr Reddy's Labs, LTIMindtree, Apollo Hospitals, M&M, and Bajaj Finance gained between 2 per cent and 3.3 per cent, NTPC, BPCL, Wipro, Tata Motors, Bajaj Finance, Titan, ONGC, Sun Pharma, HDFC Bank, Tata Steel, Divis Labs, IndusInd Bank, Maruti Suzuki, and Adani Ports rose in the range of 0.5 per cent to 1.9 per cent. 

In the broader markets, the BSE MidCap and SmallCap indices closed 0.5 per cent higher each.

Among sectors, the Nifty PSU Bank index fell 0.24 per cent, the Nifty FMCG 0.15 per cent, and the Nifty Bank 0.09 per cent. On the upside, the Nifty IT index rallied 2.7 per cent, follwoed by the Nifty Pharma, Media, and Metal indices (up 0.8 per cent each).

3:50 PM

Comment :: Here's all that happened in the markets today

The Indian market continued its positive resurgence, tracking global gains. Softer than expected US inflation data and easing bond yields has bought optimism that spending will emerge like in technology. Taking the cues further, IT stocks shown a significant jump in the broader market. The market is sensing that exports based sectors like IT and Pharma could be future winners. While cut in inflation will also benefits domestic placed staples and consumer sector.

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

3:48 PM

Currency check :: Rupee ends 9 paise weaker

3:45 PM

SmallCap Heatmap :: Index up 0.5%; Kalyan Jewellers, Jyothy Labs decline

3:44 PM

MidCap Heatmap :: Index ends 0.5% higher; GIC RE, Mphasis end as chart toppers

3:42 PM

Sectoral trends :: PSB, FMCG indices drop sharply in fag-end

3:40 PM

Sensex Heatmap :: Axis Bank, ITC, ICICI Bank weigh on index

3:39 PM

Closing Bell :: Nifty ends above 19,750

3:37 PM

Closing Bell :: Sensex ends sharply off highs, still up 300 pts

3:27 PM

India's GDP to grow 6-7% during 2024-26, growth prospects strong: S&P

"Unsecured personal loans have grown rapidly and could contribute to incremental NPLs. We believe underwriting standards for retail loans generally remain healthy and overall level of delinquencies remains within acceptable limits for this product category," S&P Primary Credit Analyst Deepali Seth Chhabria said. READ MORE

3:10 PM

ALERT :: Sharp profit booking seen in markets

3:00 PM

Nifty MidCap index scales new lifetime high of 41,818

2:49 PM

Stock of this small-cap pharma company has zoomed over 50% in last 3 weeks

Shares of Wockhardt surged 19 per cent on the BSE to a fresh 52-week high of Rs 334.50 in Thursday’s intra-day trade on heavy volumes.
 

The average trading volumes on the counter jumped over four-fold today. A combined 2.41 million equity shares, representing nearly 17 per cent of total equity of Wockhardt, changed hands on the National Stock Exchange (NSE) and BSE. Read

2:38 PM

ALERT :: RBI okays appointment of Isha Mukesh Ambani, Anshuman Thakur, Hitesh Sethia as Directors of Jio Fin

2:29 PM

Global check:: US, UK stock futures display mixed trend

Source: Investing.com

2:18 PM

UCO Bank approaches CBI for probing IMPS glitch, says systems safe

UCO Bank has complained to the Central Bureau of Investigation (CBI) after a technical glitch in its Immediate Payment Service (IMPS), Ashwani Kumar, managing director and chief executive officer of the state-owned lender, told 'Business Standard'’. READ MORE