ICICI, Axis, HDFC Bank lift Sensex 659 pts, Nifty near 17,800; metals dip

CLOSING BELL: Shree Cement, BPCL, Tech M, Axis Bank, M&M, ICICI Bank, Ultratech Cement, Bharti Airtel, Bajaj Finserv, and SBI gained in the range of 2 per cent to 5 per cent

10:04 AM

Gold, silver prices decline in early trade, silver selling at Rs 52,800/kg

The price of silver dipped Rs 1,100 per kg with the metal trading at Rs 52,800. 

9:56 AM

COMMENT | Investors should keep a contrarian view in the near-term

There is a clear message from the market now. Despite high valuation, global headwinds from elevated inflation, slowing global economy and an ultra-hawkish Fed, the domestic market has been surprisingly resilient.

The tape is signalling momentum and bullishness. Investors should not 'fight the tape' and take a contrarian view, at least in the near-term.
 

The market may be discounting the robust growth revival in India and the consequent earnings growth.

 

The buy on dips strategy has worked very well in this rally and it makes sense to continue with the strategy.
 

Domestic economy-facing segments such as banks, autos, capital goods, telecom and FMCG will continue to do well. If the rally is to sustain from the current levels, it will need support from the beaten down IT segment, which looks good from the valuation perspective.

Views by V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

9:50 AM

Brand Bucket locked in 10% upper circuit; board approves Rs 33 cr fund raise

The company’s board approved raising up to Rs 33 crore by way of issue of 1 crore convertible equity warrants to non-promoters on a preferential basis at Rs 33 per warrant.

9:48 AM

Zee Entertainment weakens after NCLT asks for meet to approve Sony merger

The Mumbai bench of the National Company Law Tribunal (NCLT) on Wednesday directed Zee Entertainment to convene a shareholders' meet on October 14 for approving the merger with Culver Max Entertainment (formerly Sony Pictures Network).
 

 

9:45 AM

NDTV slumps 5% to lower circuit; Adani's open offer to open October 17

9:43 AM

Paint stocks in positive hues as oil prices decline to 7-month lows

9:40 AM

IndiGo slips 3%; 1.4 cr shares exchange hands at Rs 1,900

9:37 AM

Concor off opening lows; land lease fees reduced to 1.5%

9:35 AM

EARLY TRADE | Markets swiftly extend gains; Sensex gains nearly 600 pts

9:32 AM

Small-cap index up 0.9%; Sonata Software surges 11%

9:29 AM

SECTORS | IT, PSB pockets sharply rise over 1% each

9:26 AM

BROADER MARKET | Gains spread across small-cap, mid-cap indices

9:23 AM

NIFTY GAINERS | Asian Paints, Bharti Airtel, Tech M lead winners

9:21 AM

NIFTY LOSERS | Only 3 of 50 stocks weak

9:19 AM

HEATMAP | All 30-Sensex shares open in green