Sensex, Nifty end flat; Broader market outperforms, Titan gains 3%
CLOSING BELL: Auto majors - Maruti and Mahindra & Mahindra were the other prominent gainers among the Sensex 30, while Bharti Airtel and Tata Steel declined around a per cent each
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STOCK MARKET HIGHLIGHTS
After two days of steady gains, the key benchmark indices consolidated in the narrow trading band on Wednesday amid mixed global cues.
The S&P BSE Sensex dipped to a low of 60,714 in early trades, and then rallied to a high of 61,075 – 361 points from the day’s low led by gains in auto, consumer durables and energy shares.
The Sensex finally ended on a flat note at 60,910 – down 17 points. The NSE Nifty 50 tested a high at 18,173, but eventually settled 10 points lower at 18,122.
Among the Sensex 30 shares, Titan gained nearly 3 per cent. Mahindra & Mahindra, PowerGrid Corporation and Maruti were the other major gainers, up 1 – 2 per cent each. On the other hand, Bharti Airtel, Axis Bank, Bajaj Finserv and Tata Steel were down over a per cent each.
The broader markets for the third straight day outperformed the benchmark index. The BSE Midcap index advanced 0.2 per cent, while the Smallcap index added 0.4 per cent.
The overall market breadth was positive, with around 2,075-odd shares up as against 1,400 stocks declining on the BSE.
Sectorally, the BSE Consumer Durables index moved 1.4 per cent higher. The Power and Energy indices were the other major movers.
On the flip side, the metal and healthcare shares softened in trades on Wednesday.
That apart, select shares of PSU Bank stocks extended gains for the third straight day, with the Nifty PSU Bank index was up 11 per cent during this period. READ MORE
India Pesticides soared over 9 per cent after the company’s subsidiary Shalvis Specialities received environmental clearance for setting up manufacturing plant of agrochemicals & intermediates, API ingredients & intermediates and fine chemicals manufacturing unit. READ MORE
4:15 PM
NIFTY VIEW: 18,000-18,200 tight range for index with crucial support at 17,800
Continuing with the bounce that was seen in the last couple of sessions, the Nifty attempted to inch higher on December 28. The daily chart shows that the index has moved up to retest a trendline, which was broken on the downside on Friday last week.
18150-18200 is the key resistance zone, which indeed proved to be a crucial barrier for the day. As long as the index stays below this resistance zone on a closing basis, it is likely to witness consolidation in the short term.
18000-18200 can be the tight range for the Nifty with crucial support placed at 17800.
18150-18200 is the key resistance zone, which indeed proved to be a crucial barrier for the day. As long as the index stays below this resistance zone on a closing basis, it is likely to witness consolidation in the short term.
18000-18200 can be the tight range for the Nifty with crucial support placed at 17800.
Views by Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas.
4:13 PM
Views by Vinod Nair, Head of Research at Geojit Financial.
CLOSING VIEW: Reopening of Chinese economy cements prospects of demand recovery
Market wavered between gains and losses with investors taking their position around the flatline as mixed global cues troubled them to take a firm one-sided move.
US stocks were weak as the trade deficit data suggested strength in the economy, raising concerns about the Fed's tightening stance.
However, steps toward reopening the Chinese economy increased the prospect of demand recovery.
US stocks were weak as the trade deficit data suggested strength in the economy, raising concerns about the Fed's tightening stance.
However, steps toward reopening the Chinese economy increased the prospect of demand recovery.
Views by Vinod Nair, Head of Research at Geojit Financial.
4:10 PM
Paytm ends over 4% higher at Rs 535
4:06 PM
GKB Ophthalmics rallies 20% as govt imposes import duty on ophthalmic lenses
In response to the company's plea, the govt has imposed anti-dumping duties on imports of semi-finished ophthalmic lenses from China.
4:03 PM
Adani Wilmar rallies for 3rd day; closes 5% higher on firm demand expectations
Demand seen rising amid high out-of-home consumption.
3:59 PM
Canara Bank ends 3% up on strong commentary
The bank told CNBC-TV18 that it has garnered Rs 1 lakh crore in deposits in 3 weeks, enough to sustain 20% loan growth.
3:57 PM
Hester Biosciences rises 2%; acquires technology to develop vaccine
It has acquired the technology to develop a low pathogenic Avian influenza (H9N2 strain) inactivated vaccine for poultry.
3:54 PM
Rupee ends at 82.86/$ vs Tuesday’s close of 82.85/$
3:50 PM
Mid-cap winners: Macrotech Developers, General Insurance, JSW Energy rise up to 6%
3:46 PM
Broader indices outperform; Small-caps lead gains
3:44 PM
Airtel, Apollo Hospitals, Bajaj Finserv, Axis Bank top Nifty drags
3:43 PM
UPL additional leading gainer on Nifty50
3:41 PM
HEATMAP: Titan, M&M, Power Grid, Maruti rise 1-3%
3:36 PM
CLOSING BELL: Nifty closes largely unchanged
3:33 PM
CLOSING BELL: Sensex ends with fractional downtick
Topics : Sensex Inflation MARKET LIVE MARKET WRAP Nifty Market trends BSE NSE Rupee vs dollar Crude Oil Price FII flows DIIs stocks to watch Buzzing stocks SGX Nifty Global Markets India Pesticides Ltd Coal India IEX Suryoday Small Finance Bank Chemical industry
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First Published: Dec 28 2022 | 8:02 AM IST
