Benchmarks end at closing peak; Nifty tops 16,350; broader indices outrun

The Nifty IT index jumped 3 per cent and ended around record high levels of 32,245.

4:17 PM

TECH VIEW | Ashis Biswas, Head of Technical Research at CapitalVia Global Research

The market witnessed the continuation of positive trend, and an attempt to breach the level of 16350, after a reversal from the support level around the Nifty 50 Index level of 16200 yesterday. If the market sustains above the level of 16350, we expect markets to gain momentum, leading to an upside projection till 16450-16500 level. The momentum indicators like RSI and MACD indicating a positive outlook to continue.

 

4:09 PM

Market View :: Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty broke upwards, as expected, post a 6 day range close. Advance decline ratio has turned sharply positive bringing relief to market participants. Broad market indices like smallcap and midcap indices have outperformed the Nifty. There could be a day or two of followup upmove for the Nifty (though gradual) while the broader markets continues its upward retracement.

3:54 PM

CLOSING COMMENTS :: Vinod Nair, Head Of Research at Geojit Financial Services

Market breadth continued to be skewed in favour of the bulls amidst mixed global cues and strong support from IT, power and utility stocks. Chinese jitters over tightening regulatory scrutiny of online insurance companies were outweighed by the slowdown in pace of the US inflation data and rebound in UK GDP numbers. US consumer price inflation stood at 5.4% YoY in July, unchanged from June’s data, taking some heat out of concerns over early tapering by the Fed. UK GDP grew by 4.8% QoQ in Q2 as activity and demand rebounded with the easing of covid restrictions.

3:54 PM

Eicher Motors sheds over 3% ahead of June quarter results

>> Results are due later today

3:52 PM

BPCL ends in the red as Q1 numbers missed Street estimates

>> Bharat Petroleum Corporation today reported a 28 per cent year-on-year fall in net profit to Rs 1,501.6 crore for the quarter ended June

3:51 PM

Bata India ends flat after hitting 52-week high in trade

>> Stock rallied 5% as the company narrowed loss in Q1

3:49 PM

SpiceJet rallies 5% ahead of June quarter earnings

>> Given that budget carrier SpiceJet, as per analysts' expectations, is most likely report net loss for April-June quarter of FY22 (Q1FY22), all eyes are now on the airline’s fundraising plans as well as growth in the cargo business during the Covid-hit period, when it reports its Q1 result on Friday, August 13.

3:48 PM

VIP Industries ends in 20% upper circuit on strong Q1 show

>> VIP Industries, which is the leading manufacturer of hard and soft luggage in Asia, reported a consolidated net profit stood at Rs 2.53 crore in Q1FY22 compared with net loss of Rs 51.32 crore in the year-ago period. Consolidated revenue from operations, meanwhile, surged 411.43 per cent to Rs 206.21 crore as against Rs 40.32 crore in Q1FY21.

3:43 PM

Nifty IT hits all-time high; all constituents end in the green

3:42 PM

Nifty Media soars over 2%; TV Today only loser

3:41 PM

Nifty Pharma index tanks 1%; Biocon only gainer

3:39 PM

Sector Watch | Barring Nifty Pharma, all indices end in the green

3:38 PM

BSE Midcap & Smallcap indices rise up to 2%, beat benchmark Sensex

>> Both indices snapped their 3-day losing streaks

3:36 PM

Sensex Heatmap | Top gainers & losers at close

>> Top gainers: PowerGrid, TechM, HCL Tech

>> Top losers: DRL, RIL, IndusInd

3:33 PM

CLOSING BELL :: Sensex, Nifty end at record highs

BSE Sensex closed at record high of 54,831, up 305 points or 0.56%. It had hit an all-time high of 54,874 in trade earlier. ICICI Bank, L&T, Tech Mahindra & HDFC Bank were the top Sensex contributors. Nifty50, meanwhile, closed the day at 16,364, up 82 points or 0.5%. Nifty hit fresh peak of 16,375 in trade today.