Sensex zooms 491 pts, Nifty tops 17,300; PSBs soar, Electronics Mart up 42%

CLOSING BELL: Sectorally, the Nifty PSU Bank index climbed 3.6 per cent, Nifty Bank index 1.6 per cent, Nifty Financial Services and Private Bank indices up to 1.5 per cent

4:22 PM

Tech view: Nifty may rally towards 17,500 - 17,700

"The Nifty witnessed a positive session as the benchmark index closed with a gain at the end of the day. On the daily chart, the index has formed a piercing line pattern which suggests a bullish reversal. The trend and momentum remain positive for the short term. Over the short term, the index is likely to go towards 17,500/ 17,700. On the lower end, support is visible at 17,100."

 

- Rupak De, Senior Technical Analyst at LKP Securities

4:10 PM

Expert View: Q2 earnings help market receover early losses

"The domestic market started weak in-line with a volatile global market. However, due to buying on dips strategy, the domestic market is recovering well supported by a good start to Q2 earnings season by IT & Banks. Broadly, even though the Q2 preview analysis forecast a muted outlook, it is fairly factored-in considering the consolidation of the last one month. While outlook for Q3 results has been enhanced due to moderation in operation cost, forecasting a QoQ improvement in profitability and reducing risk of earnings downgrade."

 

- Vinod Nair, Head of Research at Geojit Financial Services

 

3:55 PM

Debutant Electronics Mart ends at 43% premium

Debutant Electronics Mart India ended with 43 per cent premium to its issue price on Monday. READ MORE

3:51 PM

Cement maker ACC reports surprise quarterly loss in Sept as expenses surge

The company's standalone loss was Rs 91 crore for the three months ended Sept. 30, compared with a profit of Rs 449 crore a year ago. READ MORE

3:45 PM

Nifty Metal index was the major loser, down 1%; Vedanta slumps 3%

3:44 PM

Nifty PSU Bank index soars 3.5%; Indian Bank zooms 6%

3:40 PM

Broader Midcap, Smallcap indices underperform; India VIX up 1%

3:38 PM

Nifty 50:: Top FIVE gainers and losers on Monday

3:37 PM

Sensex 30 Heatmap:: 20 RIL, financial shares shine; L&T slips

3:35 PM

NSE Nifty 50 gained 126 points at 17,312

3:33 PM

Sensex ends 491 pts higher at 58,411

Closing Bell:: The S&P BSE Sensex ended near the day's high, up 491 points to 58,411.

3:29 PM

Global Check:: US, UK stock futures rally over a per cent each

Source: Investing.com

3:21 PM

Bank of Maharashtra's net profit reports 2-fold jump to Rs 535 crore in Q2

State-owned Bank of Maharashtra (BoM) on Monday reported a two-fold jump in its net profit to Rs 535 crore in the September 2022 quarter, helped by a decline in bad loans. READ MORE

3:15 PM

BSE 500:: Top losers so far

Tata Elxsi down 8 per cent was the top loser among the BSE 500 stocks so far. Welspun Corp, CreditAccess Gramin, Heidelberg Cement and Oberoi Realty were the other noteable losers, down around 5 per cent each.

3:06 PM

BPCL, HPCL hit 52-week lows on concerns of large losses in Q2FY23

Analysts believe that OMCs would see further decline in GRMs in Q2FY23, as cracks correct on a sequential basis and lower oil prices would drive sizable inventory losses. READ MORE