Benchmarks extend record breaking run; Nifty tops 18,800; IT, metals shine

CLOSING BELL: Global cues triggered by Powell's positive remarks boosted sentiment. The Sensex scaled a new high at 63,583, while the Nifty 50 came within striking distance of 18,900 on Thursday.

10:02 AM

Market Check:: Sensex marginally off day's high, still up 330 points

9:59 AM

COMMENT:: Markets scale newer heights post Fed chief Powell observations

"Fed chief Powell’s observation that “it makes sense to moderate the pace of rate hikes” has come as a shot in the arm for the bulls to take the ongoing rally forward. The dip in the dollar index to 105.5 and the US 10-year bond yield declining sharply to 3.63 per cent are hugely favourable for the continuation of FII inflows. In brief, the market construct is favourable for the continuation of the rally. For the near-term, concerns of elevated valuations are likely to be ignored by the market. However, investors should be cautious while chasing this rally. Even though the Sensex and Nifty are at record highs the Mid cap index and Small cap index are 2 per cent and 17 per cent away respectively from their peaks. Therefore, retail investors may chase this rally driven by the FOMO factor. That would be risky since mid and small caps will correct sharply during a market pullback, which can happen since valuations are high. Safety is in high quality large caps."

 

- Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services 

 

9:54 AM

Chemplast Sanmar zooms 8% on unusually high volume

9:45 AM

Sanghi Industries spurts 4% on plans to raise funds

The company’s board is scheduled to meet on December 03 to consider and evaluate various options to raise funds.

9:43 AM

Hatsun Agro Products zooms 10% on plans to raise fresh capital

The company’s board is scheduled to meet on December 03 to consider and discuss the terms and conditions with regards to the proposed rights issue of equity shares.

9:41 AM

KPI Green Energy reverses early gains; board okays 1:1 bonus issue

The company’s board has recommended issue of bonus shares in the ratio 1:1 in its meeting on November 30, 2022.

9:36 AM

Manali Petrochemicals up 1% on buying UK-based Penn Globe

The company has acquired UK-based Penn Globe for GBP 21 million. The latter is a market leader in foam control agents and chemical products like lubricants, surface coatings, release agents and silicone emulsions. 

9:34 AM

TCS jumps 2% in early deals on winning UK order

Tata Consultancy Services has secured a contract with Rail Delivery Group (RDG) to design, develop, implement, and operate the United Kingdom’s rail data marketplace. The tenure of the contract is for a term of six years including an extension term opportunity. READ MORE

9:28 AM

Nov Auto Sales :: Escorts Kubota's total sales up 12% YoY

9:26 AM

BSE SmallCap Heatmap :: Hatsun Agro, Subex advance up to 10%

9:25 AM

BSE MidCap Heatmap :: Rajesh Exports, LTTS, Persistent Systems in top gear

9:24 AM

Broader indices swim in green; midcaps shine

9:23 AM

ALERT :: Sensex extends rally, moves past 63,550

9:22 AM

Sectoral trends :: Auto pack weak in a firm market; IT index up 2%, Metal 1%

9:20 AM

Sensex Heatmap :: IT stocks gain 2% each; Asian Paints, HUL fall