Banks, Wipro lift indices in fag-end; Sensex up 401 pts, Nifty tops 17,700

CLOSING BELL: The gains in benchmark indices were led by HDFC Life (up 6.4 per cent), Wipro, ICICI Bank, Titan, Axis Bank, SBI, Hero MotoCorp, Grasim, and Adani Ports

10:15 AM

Adani Ports & SEZ starts first bond buyback after Hindenburg report

The company also said it plans to buy back $130 million of the 3.375% senior notes in each of the next four quarters. READ MORE

10:05 AM

EXPERT COMMENT: Market poised for positive breakout from range of 17,600-17,800

The market is poised for a positive breakout from the recent narrow range of 17,600-17,800. Three factors have the potential to facilitate this breakout: one, excellent Q4 results from ICICI Bank, two, better-than-expected Q4 results from Reliance and three, RBI’s approval for merger of HDFC in HDFC Bank - granting some of their important requests - thereby facilitating the merger by July. These four stocks accounting  for 33.2 per cent weightage in Nifty will impart resilience to the market.

 

However, this is not sufficient to push the market into a new bull orbit. That will have to wait for favourable global cues, particularly the US inflation print and the Fed’s response.

 

Meanwhile, investors can use the subdued market trend, particularly days of market correction, to buy the high quality potential winners for impressive returns when the market eventually rallies.

Views expressed by Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services 

10:01 AM

Maharashtra Seamless rallies 3% after it secures Rs 262 crore order from ONGC

9:55 AM

Sun Pharma down 2% after USFDA issues corrective actions for Mohali facility

9:49 AM

HDFC Life soars 8% as RBI allows HDFC Bank to increase stake beyond 50%

RBI's permission to increase stake in subsidiaries puts an end to the overhang on the stock, said Motilal Oswal in a note. READ MORE

9:44 AM

YES Bank slips 2% after lender's net profit skid 45% YoY in Q4FY23

9:39 AM

ICICI Bank gains 2% after lender posts highest-ever quarterly profit in Q4FY23

9:35 AM

Shares of RIL steady after Q4FY23 results beat Street estimates

9:32 AM

Nifty Media index worst sectoral performer, slips over 1%

9:29 AM

Nifty PSU Bank top sectoral performer, gains over 1%

9:25 AM

Sun Pharma, Dr Reddy's, Maruti Suzuki top Nifty50 laggards

9:23 AM

HDFC Life, ICICI Bank, Tata Consumer top Nifty50 performers

9:22 AM

SENSEX HEATMAP: 17 out of 30 index counters swim in a sea of green

9:20 AM

OPENING BELL: Nifty50 marches over 30pts forward, above 17,650

9:17 AM

OPENING BELL: Sensex opens over 150 points higher