Sensex gains 550 pts, Nifty near 17,500; PSB index up 4%, HDFC twins weak

CLOSING BELL: The gains were largely led by bank, auto, IT, and FMCG stocks. Their sectoral indices were up over 1 per cent each

10:12 AM

COMMENT | Perception about US inflation, Fed rates rapidly changing

The whipsaw movement in the mother market of the US is a reflection of the fast changing perception about the US inflation expectations, terminal Fed rate and direction of the US economy.

A section of market participants now feel more optimistic about a soft landing of the US economy and have now turned bullish about the market. It remains to be seen whether this view gathers wider acceptance and sustains.
 

In India bulls are gaining strength aided by India’s growth outperformance, good early Q2 results, declining FII selling, steadily rising DII buying and the optimism ushered in by the festive season. Bank Nifty is resilient with the potential to take banking stocks as well as Nifty higher.

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

10:00 AM

Zee Entertainment surges 6% after 53 mn shares change hands via block deal

According to reports, Invesco Developing Markets Fund, which has a 10.14 per cent stake in ZEE, was looking to sell half of its stake in the company in a block deal. Read more

9:54 AM

Aster DM Healthcare gains 3% as arm forms pharmacy JV in Saudi Arabia

9:50 AM

Zee Entertainment soars 4% on reports Invesco to sell half of its 10% stake

9:47 AM

LTI, Mindtree rise over 1.5% as NCLT sanctions their merger

9:44 AM

ACC slips 1% on Q2 loss of Rs 87 crore

ACC on Monday reported a consolidated net loss of Rs 87.35 crore for the July-September period, hurt by higher fuel and power expenses. The company had posted a consolidated net profit of Rs 450 crore in the year-ago period. 

9:41 AM

Adani Transmission up 2% on reporting 13% YoY rise in sales

9:37 AM

Samvardhana Motherson sinks as 4.6% equity changes hands

9:33 AM

SECTORS | All indices in green; PSBs, Auto frontrunners

9:30 AM

BROADER MARKETS | Small-caps, mid-caps hold slimmer gains

9:27 AM

NIFTY LOSERS | BPCL, Apollo Hospitals sole index laggards

9:24 AM

NIFTY GAINERS | Tata Motors additional index winner

9:22 AM

HEATMAP | Barring NTPC, all Sensex stocks open in green

9:20 AM

OPENING BELL | Nifty opens 150 points higher above 17,450

9:17 AM

OPENING BELL | Sensex surges 500 points