Sensex rises 322 pts, Nifty tops 17,900 amid global rally; IT stocks shine

CLOSING BELL: Tech M, Titan, Axis Bank, Infosys, Ultratech Cement, Bajaj Finance, Tata Steel, Wipro, RIL, and TCS were the top large-cap winners

12:00 PM

Time-starved investors must stick to index funds

Many ‘money rich but time poor’ investors are unable to create wealth despite allowing their equity investments a lot of time to grow. That is because their ability to wait is actually inertia and not patience. Inaction, when exercised consciously, is patience, otherwise it is inertia or laziness. READ MORE

11:50 AM

TVS Motor zooms 109% from March'22 low; m-cap crosses Rs 50,000 crore

Analysts at Emkay Global Financial Services retain their 'positive' view, as they expect a turnaround in the domestic 2W industry. They expect the company's volume performance to be supported by reopening of offices/educational institutions, better finance availability, pick-up in rural sales and a favorable base effect. READ MORE

11:39 AM

S&P affirms State Bank of India's 'BBB-' rating on improving asset quality

“In base case, the bank's weak loans (non-performing loans and restructured loans) will decline to 3.0-3.5 per cent of total loans over the next 12-18 months, from about 4.8 per cent as of June 30, 2022. SBI holds adequate provisioning of 70 per cent for the weak loans. Credit costs should remain at about one per cent over the forecast period”, S&P added. READ MORE

11:27 AM

Retail prices may continue to remain elevated even as wholesale prices ease

Data due later Monday will probably show retail inflation quickened to 6.9% last month from a year earlier, according to a Bloomberg survey of economists as of Sept. 10. That compares with estimates for wholesale price inflation easing for a third straight month to 12.9%, in numbers scheduled for release Wednesday. READ MORE

11:15 AM

It's no walkover for tile makers staring at competition, gas prices

Shaky Ground: Price hikes, too, may imperil demand. Read more

11:01 AM

Rupee depreciates by 10 paise to 79.67 against US dollar in early trade

The rupee depreciated by 10 paise to 79.67 against the US dollar in opening trade on Monday, even as the equity market opened on a positive note. Read here

10:47 AM

Lemon Tree Hotels zooms over 100% in one year, stock nears record high

The increasing traction in corporate travel will benefit us to a great extent as more than 85 per cent of the company's inventory is in business hotels, the company said in its annual report. Read here

10:38 AM

DIIs have been circumspect about market rally: Aditya Birla MF CIO

"Correlation of Indian markets with Chinese equities has fallen sharply in recent months", says Mahesh Patil. Read more

10:24 AM

COMMENT | IT sector may participate in the pullback rally

The most important bullish factor that has caused and is sustaining India's market outperformance is the strong growth recovery underway in India now.

RBI's report which puts bank credit growth now running at 15.5% is an endorsement of this fact.

Bank Nifty which has outperformed Nifty by 11% is a reflection of this strong undercurrent in the banking segment. Even though valuations are high it appears that this rally has more steam to go up.
 

While financials will continue to be resilient some sector rotation can be expected at this juncture. The beaten down IT segment may participate in a pull back rally.

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

10:14 AM

Rs 51,100-level remains a key hurdle for Gold futures; Silver tests 200-DMA

The upside for MCX Gold October futures is seen capped around Rs 51,100-level for now. On the other hand, Silver futures may consolidate following the near 5 per cent rally last week. Read here

10:05 AM

Adani Ports gains 3%, hits new high on improved business outlook

In Q1FY23, the company reported a record EBITDA of Rs 3,005 crore, up 11 per cent YoY on the back of revenue growth for the ports and logistics business. Read here

9:54 AM

Despite over 20% rally from June lows, analysts bullish on broader markets

With the recent rally, the Nifty Midcap 100 now trades at an 18-per cent premium to large-caps at 23.2x. Read here

9:50 AM

KEC International rises 3% on winning Rs 244 crore order from Gujarat Industries

9:48 AM

PI Industries gains 1% after refuting reports on Granules stake acquisition

 The company has denied media reports that said the firm is in talks to acquire promoter stake of Granules India.

9:46 AM

Anupam Rasayan slips 2% after fire incident at unit

The company said a fire incident occurred last night at its unit-6 of Sachin GIDC plant. Four people have died and 20 have been injured in the incident.