Sunday, December 22, 2024 | 06:46 PM ISTEN Hindi

Sensex zooms 874pts in broad-based rally; Nifty tops 17350; RIL, HDFC up 2%

CLOSING BELL: Mukesh Ambani-led Reliance Industries (RIL) is set to become India's first company to hit market capitalisation (m-cap) of Rs 19 trillion

SI Reporter New Delhi

Illustration by Binay Sinha

CLOSING BELL

An across-the-board buying, along with firm global cues, lifted benchmarks over 1.5 per cent higher on Thursday. The S&P BSE Sensex sprinted 874 points to end at 57,912 while the Nifty50 soared 256 points to shut shop at 17,393.

M&M, HDFC, Asian Paints, Reliance Industries, Maruti Suzuki, Sun Pharma, Kotak Bank, TCS, and Bajaj Finserv advanced between 2 per cent and 3 per cent on the Sensex index, lifting the index for a second day in a row. The upside was, however, challenged by tepid losses in Bharti Airtel, Nestle India, and Tata Steel.

In the broader markets, the BSE MidCap and SmallCap indices rose in tandem with the frontline indices and added up to 1.3 per cent.

RIL in focus

Mukesh Ambani-led Reliance Industries (RIL) is set to become India's first company to hit market capitalisation (m-cap) of Rs 19 trillion after a strong rally over the past three trading days. RIL's m-cap hit Rs 18.85 trillion intra-day today after the stock price of the company touched a new high of Rs 2,787.10. READ MORE

Global cues

European stocks traded slightly higher Thursday as investors keep an eye on developments in the war between Russia and Ukraine. The pan-European Stoxx 600 index was trading 0.4 per cent higher with most sectors in positive territory.

On Wall Street, futures linked to the three main indices added in the range of 0.6 per cent to 1.15 per cent. Earlier in Asia, main indices in Japan, South Korea, Hong Kong, and China ended between -2 per cent and 1.2 per cent.

4:15 PM

Technical View: Rupak De, Senior Technical Analyst at LKP Securities

Nifty rallied on the back of a bullish harami candle formed on Wednesday. Yesterday the Nifty formed another bullish reversal pattern, the bullish island reversal pattern, which is likely to take the Nifty higher in the short term. On the higher end, immediate resistance is seen at 17400-17450; however, this resistance zone is likely to be broken over the near term. Above 17450 Nifty may move towrads 17700. On the lower end, support is visible at 17200.

4:08 PM

Market view: S Ranganathan, Head of Research at LKP Securities

Bulls came back strongly today after a pretty long wait helped by the Energy sector which is seeing robustness in gross refining margins. Almost all sectoral indices led by Automobiles traded in the Green with the volatility index cooling off. Accumulation seen in some of the big boys which led the fall during the last one week helped the Bulls get back strongly today.

4:08 PM

Market view: Vinod Nair, Head of Research at Geojit Financial Services

Resurgence of investor interest in IT and Banking space along with support from heavyweights and global peers helped in strengthening the market. However geopolitical worries, inflation fears and likely hike in fed rates is pressurising the foreign investors to continue their selling spree. Increasing oil prices on concerns over potential EU ban on Russian imports will be a short term headwind resulting in volatility in the market.

4:02 PM

US equity futures trade on a positive note

3:57 PM

Closing bell: Over 1,400 stocks advanced while 580 declined

3:56 PM

Closing bell: Cipla, Hindalco, ONGC top Nifty 50 losers

3:55 PM

Closing bell: Eicher Motors, M&M, Coal India top Nifty 50 gainers

3:53 PM

Closing bell: Nifty Auto best sectoral performer

3:46 PM

Closing bell: Broader markets upbeat; India Vix cools off below 4%

3:38 PM

Closing bell: Barring Nifty Media, all sectors close in green

3:35 PM

Closing bell: Only 3 out of 30 Sensex stocks close in negative zone

3:33 PM

Closing bell: Over 800 points gain for Sensex

3:32 PM

Closing bell: Terrific Thursday! Nifty 50 closes above 17,400

3:22 PM

Oil prices rise as investors focus on lower supply from Russia, Libya

Analysts said market volatility is likely to pick up again soon, with the EU still weighing a ban on Russian oil for its invasion of Ukraine. READ MORE HERE

3:15 PM

Media stocks bleed; Saregama declines over 3%

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Topics : MARKET LIVE MARKET WRAP Markets stock market trading BSE NSE S&P BSE Sensex Nifty50 Q4 Results HCL Tech Nestle India RBL Bank Reliance Industries Tata Steel

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First Published: Apr 21 2022 | 8:18 AM IST