Sensex rises 320 pts, Nifty ends atop 18100; IT index up 2%, YES Bk down 8%

Closing Bell: Sectorally, Nifty IT clocked around a 2 per cent gain, followed by nearly 1 per cent upmove in bank, auto, FMCG and pharma indices. Metals and realty were the only pockets to close lower

(Photo: Bloomberg)

CLOSING BELL

Dalal Street kicked off the week on firm ground as benchmark indices closed with decent gains on Monday. The positive sentiment was supported by strength in the rupee and strong traction in IT shares.

The BSE Sensex leaped around 500 points to the day's high but pared some gains to close 320 points higher at 60,942. Top index winners included Sun Pharma, HUL, TCS, Tech M, Infosys, SBI, Tata Motors, HCL Tech and Bharti Airtel, which gained 1-2 per cent.

The NSE Nifty rose 91 points to end at 18,119. Ultratech Cement was the top index drag, down over 4 per cent, followed by Grasim, NTPC, JSW Steel, Tata Steel and L&T.

In the broader markets, BSE Midcap index rose 0.4 per cent led by up to 7 per cent rally in Delhivery, Torrent Power, Persistent Systems, Tata Elxsi, Bajaj Holdings and AU Bank. The smallcap index trailed the market and closed 0.3 per cent down.

Sectorally, Nifty IT clocked around a 2 per cent gain, followed by nearly 1 per cent upmove in bank, auto, FMCG and pharma indices. Metals and realty were the only pockets to close lower.

Among stocks, YES Bank tanked 8 per cent following disappointing Q3 result. Read in detail here

BS SPECIAL: How to trade in Reliance Industries post Q3 results? Check key levels

After evaluating the RIL shares on all three time frames; short-term, medium-term and long-term, it appears to be positive as long as it shields the support of Rs 2,200 levels. Read here

Q3 IMPACT: ICICI Bank best placed to face NIM shock; analysts see up to 44% upside

Brokerages have applauded private lender ICICI Bank’s ‘super normal’ performance in the October-December quarter (Q3) of financial year 2022-23 (FY23), reiterating that the bank is best placed among large private peers to deliver growth, and absorb any macro/asset-quality shocks given healthy provisions and capital buffers. Read more

4:10 PM

TECHNICAL VIEW: Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas

The Nifty traded in a range bound manner on January 23; however the overall structure shows that the index is preparing to start the next leg on the upside. On the daily chart, it has started forming higher top higher bottom & once the swing high of 18184 is crossed then one can initiate a fresh long position. The daily upper Bollinger Band is set for an expansion, which will create room for the price action on the higher side. In the short term, the Nifty is expected to surpass the key hurdle zone of 18260-18300 & head towards 18500. On the other hand, the level of 18000 will provide cushion on the downside.

4:02 PM

MARKET COMMENT: Vinod Nair, Head of Research at Geojit Financial Services

Market breadth tilted in favour of bulls lifted by financial stocks, amid positive cues from global peers. Strong corporate earnings reported by banks boosted appetite for financial stocks. Positive global markets owing to possibility of a less aggressive rate hike, further added colour.

3:56 PM

Over 1,600 stocks advanced, while 1,978 declined

3:53 PM

Ultratech Cement, Grasim, NTPC top Nifty50 laggards

3:50 PM

Sun Pharma, HUL, Eicher Motors top Nifty50 leaders

3:47 PM

Nifty Realty index worst sectoral performer; Sobha falls 3%

3:44 PM

Nifty IT index best sectoral performer, gains over 1%

3:40 PM

Midcaps outperform Smallcaps; India VIX slips 1%

3:38 PM

SENSEX HEATMAP: 21 out of 30 counters close in positive territory

3:35 PM

CLOSING BELL: Bulls drive Nifty50 above 18,100 levels

3:33 PM

CLOSING BELL: Sensex ends over 300pts higher at 60,941

3:26 PM

Persistent Systems hits 9-month high; rallies 15% in 3 days post Q3 results

The company's strong performance in recent years, healthy order book, and strong deal pipeline indicate an encouraging demand trend, said Motilal Oswal. READ MORE

Persistent Systems to acquire US-based Akumina

3:21 PM

Sterlite Power bags orders worth Rs 3,800 crore from April to December

The orders were bagged by the solutions' business unit in the domestic and international markets during the first three quarters FY23. READ MORE

3:13 PM

Hero Electric partners with Maxwell for battery management systems

Hero Electric CEO Sohinder Gill said the BMS solution from Maxwell will help the company provide safe and performance-oriented EVs to its customers. READ MORE

3:02 PM

Global Check:: US, UK stock futures marginally changed

Source: Investing.com

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Topics : MARKET WRAP Markets Q3 results Markets Sensex Nifty S&P BSE Sensex Nifty50 stock market trading Market news stock market investing Reliance Industries Adani Group Adani Enterprises ICICI Bank Budget 2023 MARKET LIVE Global Markets

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First Published: Jan 23 2023 | 7:52 AM IST