Sensex soars 465 pts, Nifty tops 17,500; all except PSBs rally; SBI dips 2%

CLOSING BELL: Coal India, M&M, Bajaj Finserv, HDFC Bank, Hindalco, Axis Bank, NTPC, L&T, HDFC, Dr Reddy's Labs, RIL, IndusInd Bank, and Apollo Hospitals were the top gainers on the 50-pack index today

4:02 PM

Expert view: Heavyweights played a significant role in today's rise

"Sustained FII buying and falling oil prices are the major drivers for the ongoing market rally. Heavyweights played a significant role in today's rise, while PSU banks remained under pressure following weak results of the PSB major. Western markets continued to gain after strong US job numbers allayed worries of a recession. The week ahead is busy in terms of economic data with the domestic investors gearing up for the release of the inflation numbers along with the manufacturing production data to gauge the strength of the economy"

 

- Vinod Nair, Head of Research at Geojit Financial Services

4:02 PM

BSE 500:: Volume Shockers

Mahindra Holiday witnessed unusually high volume of around 1.35 lakh shares on the BSE as against its five-day average volume of around 10,675-odd shares. Similarly, Mahanagar Gas, Aegis Logistics, Sudarshan Chemicals and Zensar Technologies witnessed a significant spike in volume in trades on Monday.

3:57 PM

Hindustan Aeronautics hits new life-time high, soars nearly 8%

Shares of Hindustan Aeronautics rallied to a new all-time high on the back of strong business outlook.

3:54 PM

BPCL shed 3 per cent on Q1 loss

BPCL shed 3 per cent to Rs 326.30 after the company reported a net loss of Rs 6,291 crore on holding fuel prices despite rise in cost.

3:51 PM

Paytm near six-month high, surges 6.5%

Paytm surged 6.5 per cent to Rs 835 after the company Q1 revenue soared 89 per cent to Rs 1,680 crore.

3:48 PM

Bajaj Finserv extends rally, now at 3-month high

Bajaj Finserv hit an over three-month high of Rs 15,589, and ended 3 per cent higher. The stock extended its gain after the company approved 1:1 bonus issue and 1:5 stock split in July, it has rallied 30 per cent in the last one month. READ MORE

3:46 PM

SBI slips on profit-taking post Q1 results

Shares of State Bank of India (SBI) dipped 2 per cent to Rs 520 on the NSE after the public sector bank reported 6.7 per cent year-on-year (YoY) decline in its net profit at Rs 6,068 crore for the quarter ended June 2022 (Q1FY23) due to a sharp fall in non-interest income. READ MORE

3:44 PM

Sectoral Performance:: Nifty Auto, Financials and Metal gain up to a per cent each

3:42 PM

Tech view: Nifty may move towards 17,750-17,800

"The Nifty has moved above its recent consolidation as the bullish momentum continues. The index has closed above the previous congestion levels on the daily chart, which suggests rising strength. The trend is likely to remain bullish over the short term as long as it remains above the 200-DMA, which is placed at 17000. On the higher end, the index may move towards 17,750-17,800"

 

- Rupak De, Senior Technical Analyst at LKP Securities.

3:42 PM

Broader markets near-about mirror gains on the benchmark Nifty50

3:38 PM

Sensex 30 Heatmap:: M&M, Bajaj Finserv shine; SBI, UltraTech whine

3:37 PM

NSE Nifty50 adds 128 points to close at 17,525

3:33 PM

Closing Bell:: S&P BSE Sensex ends 465 points higher at 58,853

3:24 PM

SBI Q1 review: Analysts cut earnings estimate to factor MTM loss, weak NIM

The country's biggest state-owned lender reported a net profit of around Rs 6,070 crore (down 7 per cent year-on-year) with the miss being driven by 13 bps sequential decline in NIM. READ MORE

3:21 PM

Rising dues to foreign aircraft lessors choking SpiceJet's finances

In 2015, when SpiceJet promoter Ajay Singh paid Kalanithi Maran Rs 2 for buying a majority stake, few would have guessed that there would be a sense of déjà vu some years down the line. READ MORE