Wednesday, December 25, 2024 | 01:46 PM ISTEN Hindi

ITC, RIL, ICICI Bank help lift Sensex 600 pts higher, Nifty above 17,900

CLOSING BELL: Sensex and Nifty indices snapped their 2-day losing run, ralling on Tuesday as supportive global cues, ease in WPI inflation, and healthy buying in heavyweights lifted sentiment.

SI Reporter New Delhi

ITC, RIL, ICICI Bank help lift Sensex 600 pts higher, Nifty above 17,900

CLOSING BELL

Stock market highlights: Equity indices rallied on Tuesday as supportive global cues, ease in wholesale price index (WPI) inflation, and healthy buying in heavyweights lifted sentiment. Benchmark indices snapped their two-day losing run to end nearly 1 per cent higher today.

The S&P BSE Sensex surged 600 points to settle at 61,032, while the Nifty50 gained 159 points to end at 17,930. ITC, Reliance Industries, ICICI Bank, Bajaj Finance, Infosys, Axis Bank, Wipro, Tech M, M&M, and Bharti Airtel advanced between 1 per cent and 3 per cent, adding muscle to the upmove.

Meanwhile, in the broader markets, the BSE MidCap and SmallCap indices ended up to 0.5 per cent lower amid profit booking in Adani Power, Policybazaar, GIC RE, EKI, Allcargo Logistics, and Dynemic Products shares.

Among individual stocks, shares of Gautam Adani-led companies continued to reel under pressure, with 6 out of 10 listed shares of the group locked in the 5 per cent lower circuit on the BSE in Tuesday's intra-day trade. READ MORE

Shares of Adani Enterprises (AEL), however, jumped 10 per cent to an intra-day high of Rs 1,889, bouncing 17 per cent from the day's low on the BSE on Tuesday after the company announced its October-December quarter (Q3FY23) earnings. READ MORE

Shares of FSN E-Commerce Ventures, the parent company of fashion and lifestyle direct-to-consumer brand Nykaa, slipped 5 per cent to Rs 142 on the BSE in Tuesday's intra-day trade after the company posted a 70.75 per cent drop in consolidated profit to Rs 8.48 crore for the third quarter ended December (Q3FY23). READ MORE

Sectorally, the Nifty FMCG, Metal, and PSU Bank indices advanced 1 per cent each, while the Nifty Realty indices dropped 1.8 per cent.

4:10 PM

COMMENT:: IT stocks rallied on anticipation of slowdown in US inflation

"Domestic indices edged higher, inspired by their global counterparts, as investors await the US inflation numbers today. The whammy over India’s retail inflation breaching the RBI’s tolerance level was cooled by WPI inflation easing to 4.73% in January. IT stocks were in focus as investors anticipated a slowdown in US inflation, which could result in favourable Fed policy."

- Vinod Nair, Head of Research at Geojit Financial Services

4:07 PM

Adani Enterprises rebounds sharply after reporting massive jump in Q3 net

Shares of Adani Enterprises (AEL) jumped 10 per cent to an intra-day high of Rs 1,889, bouncing 17 per cent from the day's low on the BSE on Tuesday soon after the company announced its October-December quarter (Q3FY23) earnings. READ MORE

4:05 PM

Is the worst over for new-age tech companies? Here's what analysts say

A renewed buying interest in new-age technology companies was seen in the past one month, as investors pinned hopes on improved outlook post the October-December 2022 quarter results (Q3FY23). READ MORE

audit firms, companies, investments, laws, investors

4:02 PM

ITC gains 3% a day ahead of turning ex-dividend; stock nears record high

With a modest 1 per cent increase in duty on cigarettes and improving outlook for FMCG and Hotels, brokerages think ITC is well positioned for a strong FY24. READ MORE

4:00 PM

Nykaa extends fall post Dec quarter results; stock dips 8% in two days

The company said gross margin declined due to change in BPC category mix, higher brand funded discount during festive season, consumer downgrades. READ MORE

3:58 PM

Zee Entertainment nears 52-week low post weak Q3 results

The company said advertisement revenue YoY growth impacted due to FTA withdrawal (Zee Anmol) and slowdown in FMCG spends due to challenging macro-economic environment. READ MORE

3:56 PM

WPIL vaults 7%; stock has rallied over 50% in four trading days

Shares of WPIL hit the 10 per cent upper circuit and hit a new high of Rs 1,791.65 on the BSE on Tuesday. In the past four trading days, the stock of the industrial products company has zoomed 53 per cent after it reported robust December quarter results. READ MORE