RIL, banks lift Sensex 246 pts, Nifty tops 16,300; Rupee ends at 79.95/$
CLOSING BELL: The steady depreciation in the value of the rupee against the US dollar is likely to prove expensive for corporate India
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CLOSING BELL
Stock market highlights: Domestic benchmark indices rose in the fag-end of a choppy session, amid gains in PSU and select private banks, financial services, and select heavyweight stocks. The S&P BSE Sensex surged 246 points higher to close at 54,768, while the Nifty50 reclaimed 16,300-mark to end at 16,341. The index was 62 points higher at the end of the session. The indices were up 0.45 per cent and 0.38 per cent, respectively.
Stock market highlights: Domestic benchmark indices rose in the fag-end of a choppy session, amid gains in PSU and select private banks, financial services, and select heavyweight stocks. The S&P BSE Sensex surged 246 points higher to close at 54,768, while the Nifty50 reclaimed 16,300-mark to end at 16,341. The index was 62 points higher at the end of the session. The indices were up 0.45 per cent and 0.38 per cent, respectively.
Axis Bank, IndusInd Bank, M&M, Tata Steel, Ultratech Cement, Bajaj Finserv, Bharti Airtel, SBI, Coal India, Eicher Motors, and ICICI Bank were the top rulers, up between 1-2.3 per cent. On the flipside, ONGC, Nestle India, HDFC Life, Sun Pharma, Tata Consumer, Cipla, Hero MotoCorp, and SBI Life ended lower, down up to 2.6 per cent.
The broader markets, however, outperformed the frontline indices through the day. The BSE MidCap and Smallcap indicies settled up to 0.8 per cent up.
Rupee at 80
The rupee breached the 80-mark against the dollar on Tuesday. The steady depreciation in the value of the rupee against the US dollar is likely to prove expensive for corporate India. READ MORE
Rupee at 80
The rupee breached the 80-mark against the dollar on Tuesday. The steady depreciation in the value of the rupee against the US dollar is likely to prove expensive for corporate India. READ MORE
Global cues
European stocks were choppy on Tuesday as the relief rally seen in the previous two sessions lost some momentum. The pan-European Stoxx 600 index gained 0.89 per cent in mid-morning trade amid reports the European Central Bank (ECB) may opt for 50 basis points rate hike on Thursday. This comes after Euro zone inflation hit 8.6 per cent year-on-year in June, final figures confirmed on Tuesday.
On Wall Street, US stock futures indicated flat to positive start later tonight after a lower end on Monday. Earlier in Asia, Japan's Nikkei added 0.6 per cent, while South Korea's Kospi slipped about 0.2 per cent.
4:05 PM
Views by Rupak De, Senior Technical Analyst at LKP Securities
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Nifty tech view: Sustaining above major moving averages hints at bullish trend
Nifty remained strong during the session as it moved above the previous swing high on the daily timeframe.
A higher top higher bottom formation is visible on the daily timeframe.
Besides, the Nifty has sustained above its major moving average suggesting a bullish trend.
Over the short term, the index may remain positive as long as it sustains above 16100 with a potential to reach 16450-16500 over the short term.
A higher top higher bottom formation is visible on the daily timeframe.
Besides, the Nifty has sustained above its major moving average suggesting a bullish trend.
Over the short term, the index may remain positive as long as it sustains above 16100 with a potential to reach 16450-16500 over the short term.
Views by Rupak De, Senior Technical Analyst at LKP Securities
4:03 PM
Views by Vinod Nair, Head of Research at Geojit Financial Services.
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Closing view: Immediate impact of global slowdown to be milder back home
Domestic indices witnessed bouts of volatility amid weakness in global markets, IT and Pharma sectors.
But it was well countered by recovery in banking, auto and metal stocks. Developed markets traded negatively due to slow hiring plans announced by blue chips MNC like Apple Inc. in anticipation of global economic slowdown.
However, due to the Indian economy’s strong fundamentals, we believe that the immediate impact of the slowdown in the domestic economy will be milder than of global peers.
But it was well countered by recovery in banking, auto and metal stocks. Developed markets traded negatively due to slow hiring plans announced by blue chips MNC like Apple Inc. in anticipation of global economic slowdown.
However, due to the Indian economy’s strong fundamentals, we believe that the immediate impact of the slowdown in the domestic economy will be milder than of global peers.
Views by Vinod Nair, Head of Research at Geojit Financial Services.
4:00 PM
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Tube Investment soars 12% as arm acquires majority stake in EV startup for Rs 246 cr
3:57 PM
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Mangalore Chemical slips 2%; co shuts down DAP unit due to raw material shortage
3:55 PM
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Steel Strips sinks over 2%; co posts Q1 PAT of Rs 48 crores vs 51 cr year ago
3:52 PM
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Sterlite Tech moves 1% up on winning Rs 250 cr deal for telecom optical network
3:49 PM
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Mastek gains 2% ; Ashish Kacholia reportedly cut stake to 1.8% in Q1
3:47 PM
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PSBs, metals, auto lead sectoral gainers; pharma, energy packs end weak
3:44 PM
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Broader markets gain more; SmallCaps outshine
3:43 PM
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Nifty losers: ONGC leads pack, slips 3% as govt mulls windfall tax on gas cos too
3:41 PM
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Nifty gainers: Apollo Hospitals, IndusInd Bank, Tata Steel additional winners
3:40 PM
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Sensex Heatmap: 12 of 30 stocks close lower; Axis Bank, M&M lead gains
3:39 PM
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Closing Bell: Nifty climbs 150 pt from day's low; ends above 16,300
3:37 PM
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Closing Bell: Sensex manages to pull gains in choppy session; ends higher for 3rd day
3:31 PM![]()
Euro rallies after report that bigger ECB rate hike is on the cards
The euro rose to as high as $1.0254, up 1.1% on the day and its strongest since July 6 as money markets priced in a 60% chance of a 50 basis point hike on Thursday, up from 25% on Monday. Read more
Topics : Sensex Inflation MARKET LIVE MARKET WRAP Buzzing stocks Midcap smallcap stocks Nifty stocks to watch Trading strategies stock market investing Q1 results HUL IndusInd Bank AU Small Finance Bank Market trends Crude Oil Price Retail investors Interest rate hike
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First Published: Jul 19 2022 | 8:05 AM IST
