Wednesday, December 25, 2024 | 04:16 PM ISTEN Hindi

Sensex up 415 pts, ends above 60K; Nifty tops 17,700; IT, auto stocks rally

CLOSING BELL: Tata Motors, NTPC, Power Grid, Infosys, Bajaj Finserv, Asian Paints, RIL, ITC, HDFC, Wipro, TCS, Axis Bank, HUL, and HCL Tech were the top Sensex gainers today

SI Reporter New Delhi

Sensex up 415 pts, ends above 60K; Nifty tops 17,700; IT, auto stocks rally

CLOSING BELL

Stock market highlights: Positive global mood swept across Indian equities, with benchmark indices rising 0.7 per cent each on Monday. The S&P BSE Sensex jumped 415 points to close at 60,224, while the Nifty50 advanced 117 points to settle at 17,711. Both the indices, however, were below their intra-day highs of 60,498.5, and 17,799.95, respectively.

ALSO READ | Global mkts fully pricing in Fed hike to 5.5%; Indian equities at risk: UBS

Tata Motors, NTPC, Power Grid, Infosys, Bajaj Finserv, Asian Paints, RIL, ITC, HDFC, Wipro, TCS, Axis Bank, HUL, and HCL Tech were the top Sensex gainers today, rising between 0.5 per cent and 3 per cent.

Tata Steel, IndusInd Bank, L&T, ICICI Bank, and Ultratech Cements were the laggards.

ALSO READ | 5 Nifty 500 stocks to accumulate if market breadth improves further

The broader markets, meanwhile, outperformed the frontline indices with up to 0.9 per cent gain. Among sectors, the Nifty IT index were the top performing index (up over 1.2 per cent), followed by the Nifty Auto index (up 1 per cent).

4:20 PM

Nifty: Fall below 17,650 may trigger steep correction

"Nifty pared early gains as the benchmark index failed to surpass resistance at 17,800. On the daily chart, the Nifty closed within the falling channel following an intraday breakout from the said channel. On the daily chart, a shooting star kind of candlestick pattern has formed, suggesting a bearish reversal. A fall below 17,650 may trigger a steep correction in the market. While a sustained trade above 17,750 may induce buying in the market."

- Rupak De, Senior Technical Analyst at LKP Securities

4:12 PM

Bank Nifty:: Likely to trade in 41,000 - 42,000 range in the near term

"The BANK NIFTY index witnessed some selling pressure from higher levels but the broader trend remains bullish and one should keep a buy-on-dip approach. The index lower-end support stands at 41,000 where the highest open interest is built up on the put side and the upside resistance is at 42,000. The index is likely to trade in this range for the next couple of trading sessions."

- Kunal Shah, Senior Technical Analyst at LKP Securities

Markets, stocks, buy, sell, trading, shares, stock market

4:09 PM

Global markets fully pricing in Fed hike to 5.5%; Indian equities at risk: UBS

India, according to them, is among the more sensitive markets to US rates, and demonstrates the most sensitivity to local rates given higher influence of domestic flows into the market. READ MORE

UBS headquarters in Zurich. | Photo: Reuters

4:08 PM

Power Grid Corp, NTPC gain 3% each to hit their respective 3-month highs

Power Grid has been declared a successful bidder to establish inter-state transmission system for two projects on build, own operate and transfer (BOOT) basis, in Chhattisgarh. READ MORE

4:06 PM

5 Nifty 500 stocks to accumulate if market breadth continues to improve

Half of the Nifty 500 stocks are presently trading over their 200-day moving average (DMA), reflecting a move to regain the lost ground. Over the last couple of months, especially since mid-January this year, the broader market has been through choppy trades. READ MORE

4:05 PM

Stock of this company hits over 3-decade high; zooms 55% in one month

Finolex Cables has rallied 10 per cent to Rs 847.60, and trades at its highest level since March 1992, surpassing its record high of Rs 875, touched on March 24, 1992. READ MORE

4:04 PM

MF inflow in equities crosses Rs 1.5-trn for second straight fiscal

Thus far in FY23, MFs have pumped in a net Rs 1.53 trillion in equities till March 1, 2023, Securities and Exchange Board of India (Sebi) data show, as compared to Rs 1.72 trillion in FY22. READ MORE

4:02 PM

ONGC, Oil India gain 3%; hit over 8-month highs

In past one month, Oil India has rallied 23%, while, ONGC surged 11%, as compared to 0.33 per cent decline in the S&P BSE Sensex. READ MORE

4:01 PM

Mahanagar Gas surges 9%, hits 52-week high on acquisition of Unison Enviro

This acquisition will enable MGL to expand to newer geographical areas in Maharashtra (Ratnagiri, Latur & Osmanabad) and Karnataka (Chitradurga & Davanagere), thereby, providing new avenues. READ MORE

3:59 PM

Home construction: Analysts bet on pipe makers; wary on tile, paint segment

Despite expectations of a pick-up in construction activity during the seasonally strong January-March quarter (Q4), analysts are cautiously optimistic on the building material sector – encompassing paints, pipes, wood panels, tiles, metals, and cement – as volatile input costs, coupled with fears of a global slowdown, is making demand projections uncertain. READ MORE

Home buyers have been leaning towards completed inventory and developers with a track record of on-time as well as quality project completion.

3:57 PM

Wonderla scales record high; Imagicaaworld at 52-wk peak, up 44% in 3 days

The companies said business continues to show an excellent rebound after two years of adverse Covid-19 impact and an overall improvement in the health of operations. READ MORE