Sensex surges 418 pts, ends above 60K; Bajaj twins, RIL top contributors

CLOSING BELL: Bajaj Finserv (up nearly 6 per cent), Bajaj Finance, HDFC Life, Hero MotoCorp, Hindalco, Tech M, Bharti Airtel, BPCL, and HCL Tech were the top large-cap gainers

4:07 PM

Expert view: Reversal in FII trend is the backbone of the current rally

"Consistent participation by FIIs is the backbone of the current rally in the domestic market. This reversal in the FII trend is owed to the resilience showcased by the Indian economy even as inflation continues to plague the western markets. Declining commodity and oil prices also instilled confidence in foreign investors. Western markets were weak ahead of the release of the US FOMC meeting minutes"

 

- Vinod Nair, Head of Research at Geojit Financial Services

4:05 PM

Trent hits new all-time high, enters top-100 most-valued firms' club

Trent, on Wednesday, entered the elite club of top-100 most valued companies in terms of market captialisation as the share price hit a new high of Rs 1,482.90, up almost 5 per cent, on the BSE in intra-day trades. The market capitalisation (m-cap) of the Tata Group Company engaged in retail business crossed the Rs 50,000 crore-mark. READ MORE

4:01 PM

Nifty tech view: Resistance seen around 18,000 - 18,100

"The Nifty has remained above the falling trend line, confirming the continuation of the ongoing bull run. The up trend remains intact as the barometer index has not shown any weakness. The popular momentum oscillator is in a deep overbought zone but has no bearish crossover, suggesting a continuation of bullish momentum. On the higher end, resistance is seen at 18,000-18,100. On the lower end, support is visible at 17,700."

 

- Rupak De, Senior Technical Analyst at LKP Securities

 

3:59 PM

SBI Cards gains nearly 4%; charts indicate more upside for the stock

SBI Cards and Payment Services gained 3.8 per cent to Rs 998 amid reports of that Reserve Bank of India (RBI) was against unregulated firms issuing credit cards. Technically, the stock seems poised to rally to a new high. READ MORE

3:56 PM

Singer India zooms 14% after promoter offloads 22% stake via block deals

Rare Investments, the investment arm of late Rakesh Jhunjhunwala acquired 4.25 million equity shares or 7.91 per cent stake in Singer India on Tuesday, showed block deal data. READ MORE

3:54 PM

Techno Electric soars 6.5% on Rs 1,455-crore order win from RRVUN

The company received Rs 666-crore order from Rajasthan Rajya Vidyut Utpadan Nigam, Kota, and Rs 789-crore from the Rajasthan Rajya Vidyut Utpadan Nigam, Jhalawar. 

3:51 PM

Jayant Infratech hits 5% upper limit, stock gains 200% in one month

Shares of Jayant Infratech were locked in the 5 per cent upper circuit at Rs 280.55 on Wednesday. In the past one month, the engineering, designing & construction company has zoomed 219 per cent from a July 15 level of Rs 87.90. READ MORE

3:48 PM

UTI AMC sheds 5% as co denies reports of stake sale to Tata Group

Shares of UTI Asset Management Company (UTI AMC) shed 5.1 per cent to Rs 819 on the NSE after the company denied reports of it being in talks with Tata group for a 45 per cent stake sale. READ MORE

3:44 PM

Sectorally, Nifty PSU Bank index soared over 2%; Financials, IT and Media also shine

3:42 PM

Broader markets rally in sync with the Nifty 50

3:39 PM

Nifty 50:: Top FIVE gainers and losers on Wednesday

3:38 PM

Sensex 30 Heatmap:: Bajaj twins, Airtel, IT shares shine; Auto stocks slip

3:36 PM

NSE Nifty 50 index gains 119 points to close at 17,944

3:33 PM

Closing Bell:: S&P BSE Sensex ends 418 points higher at 60,260

3:25 PM

BSE 500:: Volume Shockers

Aptus Value Housing has witnessed unusually high volume of around 14.53 lakh shares so far on the BSE as against its five-day average volume of around 10,600 odd shares. Similarly, CESC, Aarti Drugs, Sundaram Fasteners and ICICI Lombard also witnessed a significant spike in volume on Wednesday.