Sensex soars 463pts, ends atop 61K; Nifty tops 18050; mid-, smallcaps shine

CLOSING BELL: Healthy buying in heavyweights like Reliance Industries, L&T, ITC, Kotak Bank, SBI, Bharti Airtel, TCS, and HDFC Bank lifted benchmarks on Friday

Stock market highlights: Buoyed by foreign inflows and healthy buying in heavyweights like Reliance Industries, L&T, ITC, Kotak Bank, SBI, Bharti Airtel, TCS, and HDFC Bank the benchmark S&P BSE Sensex surged 463 points on Friday to settle at 61,112.

The Nifty50, on the other hand, shut shop at 18,065, up 150 points. The 50-pack index surpassed the 18,000-mark for the first time since February 20.

In terms of percentage-wise gains, Nestle India, Wipro, L&T, SBI, ITC, and Tech M were the top winners, advancing up to 3 per cent.

The exuberance, however, was deeper in the broader markets where the BSE MidCap rallied 1.3 per cent, and the BSE SmallCap index close to 1 per cent. This is against the benchmarks' 0.7 per cent gain.

As per technical charts, the Nifty small-cap index has crossed the most crucial 200-day moving average (DMA), triggering more upside for all of its constituents. At the index level, the Nifty SmallCap is eyeing 10,000-mark. READ MORE

Stock in news :: Axis Bank

A higher-than-expected net loss by Axis Bank in the January to March quarter (Q4) of financial year 2022-23 (FY23) sent its shares nosediving 3 per cent on the BSE in Friday's intra-day trade. However, despite the Rs 5,728.42-crore net loss in Q4FY23 (vs Bloomberg's estimate of Rs 2,531.60-crore net profit), analysts remain bullish on the lender as it is running several transformational initiatives, targeting the sustainability of the growth. READ MORE

4:02 PM

Axis Bank slips 2% post Q4 results; what should investors do?

Global brokerage Jefferies has initiated coverage on Axis Bank stock with a target price of Rs 1,150. READ MORE

4:00 PM

Glenmark Life rallies 5%, hits 52-week high on strong Q4FY23 results

In the past one month, the stock has zoomed 40 per cent as compared to a 5.4 per cent rise in the S&P BSE Sensex. It, however, is trading below its issue price of Rs 720 per share. GLS made its stock market debut on August 6, 2021. READ MORE

3:58 PM

Godrej Consumer, Raymond tumbled up to 7% day after reporting Rs 2,825 cr deal

The proceeds from the sale of FMCG business would be utilized for repayment of debt and infusing of funds in the Lifestyle business, Raymond said. READ MORE

3:56 PM

L&T gains over 2%, hits record high on hopes of strong order inflows

L&T would be a key beneficiary of the government's infrastructure thrust and capex revival in private sectors. READ MORE

3:54 PM

PI Industries soars 10% on twin acquisitions in pharma API, CDMO space

The purchase consideration will be paid in cash and funded from the completed Qualified Institutional Placement (QIP) proceeds and internal accruals. READ MORE