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Business News/ Markets / Stock Markets/  Market Closing: Sensex gains 272 points led by Reliance, ICICI Bank; Nifty ends above 21,600
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Market Closing: Sensex gains 272 points led by Reliance, ICICI Bank; Nifty ends above 21,600

Market Closing: Domestic equity markets gained sharply in the last hour of trade on Wednesday with Sensex gaining 272 points led by Reliance, ICICI Bank and HDFC Bank. IT, metal and pharma gained, while realty, PSU Banks lagged

Market Closing: Sensex, Nifty end higher on Wednesday. (AP Photo/Gautam Singh)Premium
Market Closing: Sensex, Nifty end higher on Wednesday. (AP Photo/Gautam Singh)

Market Closing: Domestic equity markets moved higher in the last hour of trade on Wednesday with Sensex gaining 272 points led by Reliance Industries, ICICI Bank and HDFC Bank; Nifty ended near 21,620 as metal, media, IT stocks gained. The Indian rupee rose 9 paise to settle at 83.04 against the US dollar vs 83.1150 in the previous session. 

Asian markets fell on Wednesday following a tepid lead from Wall Street ahead of key inflation data and the start of earnings season. However, Nikkei closed with robust 2% gains. European shares also slipped as investors mulled over corporate earnings and geared up for a key US inflation print.

Markets are focussing on the crucial US inflation report later in the week, which could shed light on the Federal Reserve's rate cut timing. Back home, investors are awaiting December quarter results from Tata Consultancy Services and Infosys, due Thursday. Markets also eye key economic indicators like retail inflation and factory production data on Friday.

 

10 Jan 2024, 03:32:44 PM IST

Sensex Today Live: Sensex gains 272 points led by Reliance, ICICI Bank; Nifty ends above 21,620

Indian equity markets rose in the last hour of trade on Wednesday led by Reliance Industries, ICICI Bank and HDFC Bank. While Sensex gained 271 points to end at 71,657.7, Nifty ended above 21,620, up 0.4%. Media, metal and IT sector saw robust gains while FMCG, realty and PSU banks lagged. Midcap and small-cap stocks gained marginally today. The Indian rupee rose 9 paise to settle at 83.04 against 83.1150 in the previous session. 

Investors are awaiting December quarter results from Tata Consultancy Services and Infosys, due Thursday. Markets also eye key economic indicators like retail inflation and factory production data on Friday.

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10 Jan 2024, 03:20:06 PM IST

Sensex Today Live: Motisons Jewellers hits 20% upper circuit for second day in a row, up over 243% from IPO price

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10 Jan 2024, 03:09:09 PM IST

Sensex Today Live: Markets at 3: Sensex up 260 points led by Reliance, ICICI Bank, HDFC Bank

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10 Jan 2024, 03:02:06 PM IST

Sensex Today Live: Tushar Chaudhari, research analyst, Prabhudas Lilladher on metals & mining sector

Indian benchmark HRC prices remain unchanged. The spot spreads have contracted further 2% WoW. Chinese and European HRC prices have risen ~1% WoW. Chinese spot spreads have risen 7%. European spot spreads have risen 4% WoW. Uptick in steel prices and WoW decline in iron ore prices have more than offset the increase in coking coal prices.

Coking coal prices have inched up 2.2%, while iron ore 62% grade declined 2.3% over the same period. The Indian Govt. plans to set up a state-backed consortium for coking coal imports which remains volatile due to supply shortages. One of the criteria is to diversify supplies coming from Australia that accounts for more than half of the coal imports.

On import parity basis, global steel prices continue to trade at a premium to Indian steel prices which incentivizes domestic companies to take price hikes. After a quarter which was marred by higher imports and state elections, steel companies shall be able to take price hikes to compensate for the recent surge seen in coking coal prices. JSP, HNDL & NMDC are the top picks.

10 Jan 2024, 02:48:27 PM IST

Sensex Today Live: IRCTC up 2%; Sanjay Kumar Jain to assume additional charge of CMD of company

The railways ministry has entrusted Sanjay Kumar Jain with the additional charge of chairperson and managing director. The appointment, which is pending approval of the competent authority, comes after Seema Kumar, a member of operations and business development of the Railway Board, relinquished the additional charge of the post on 9 January.

10 Jan 2024, 02:35:16 PM IST

Sensex Today Live: Zomato introduces daily payouts for small eateries

Food-delivery platform Zomato is introducing daily payouts for small restaurant partners listed on the platform, replacing the current weekly payment system. For now, daily payouts will be available to restaurant partners that receive 100 or fewer orders a month.

10 Jan 2024, 02:23:14 PM IST

Sensex Today Live: Asian markets drop ahead of key inflation data and start of earnings season; European shares slip

Asian markets fell on Wednesday following a tepid lead from Wall Street ahead of key inflation data and start of earnings season.

Barring Tokyo which rose 2%, all other markets fell. Hong Kong fell 0.5%; Shanghai fell 0.5%.

European shares slipped as investors mulled over corporate earnings and geared up for a key US inflation print for clues on the interest rate path. The pan-European STOXX 600 was down 0.2%

10 Jan 2024, 02:10:09 PM IST

Sensex Today Live: Paints companies: One brush at a time to beat competition blues

Paint manufacturers are taking it slow amid the looming threat of heightened competition and tepid demand trends. Grasim Industries Ltd, part of the Aditya Birla Group, is preparing for its product launch, expected in the March quarter of the current fiscal year (Q4FY24), which has existing paint makers concerned about market share impacts from new entrants. (Full story)

10 Jan 2024, 01:58:14 PM IST

Sensex Today Live: EaseMyTrip enters insurance sector with new subsidiary EaseMyTrip Insurance Broker

10 Jan 2024, 01:46:24 PM IST

Sensex Today Live: PM Modi says India's port infrastructure secures new investments from UAE companies

10 Jan 2024, 01:32:30 PM IST

Sensex Today Live: Puravankara Q3 sale bookings rise 56% to ₹1,241 cr on higher volumes in housing segment

Realty firm Puravankara Ltd reported a 56% increase in its sale bookings at 1,241 crore in the third quarter of this fiscal on higher volumes amid strong housing demand. Its sale bookings stood at 796 crore in the year-ago period.

10 Jan 2024, 01:19:42 PM IST

Sensex Today Live: Tata Power to outperform sector, says Antique Broking; raises target price on stock

Tata Power share has surged over 67% in the last one year as compared with the sector’s median performance of 94%, while the company’s market capitalization crossed 1 lakh crore.

The brokerage firm maintained a ‘buy’ rating on the stock and revised the target price to 450 per share from 422 earlier,

10 Jan 2024, 01:07:12 PM IST

Sensex Today Live: Jyoti CNC Automation IPO: Issue fully booked on day 2 on strong retail, NII interest

Jyoti CNC Automation's IPO witnessed robust interest from retail investors on its second day as well. All categories, except for QIB, have been fully subscribed. The offer has been subscribed over 3 times so far.

10 Jan 2024, 12:53:38 PM IST

Sensex Today Live: L&T’s Algeria project derailed after BRICS ‘snub’

A failed bid by Algeria to join the Brics grouping has impacted a $1.5 billion oil and gas project between the country’s state-run Sonatrach and Indian conglomerate Larsen & Toubro Ltd, three people aware of the development said.

10 Jan 2024, 12:43:09 PM IST

Sensex Today Live: Are Nestle India shares finally within the reach of small investors?

The Maggi manufacturer had implemented a 1:10 stock split, with Friday marking its first ex-split trading day. This development made India's sixth most expensive stock 90% more affordable, attracting investors previously deterred by its lofty price. (Read more)

10 Jan 2024, 12:30:01 PM IST

Sensex Today Live: BofA Securities upgrades Bharti Airtel, raises target price, and expects tariff hike

BofA Securities has upgraded the stock to neutral from underperform owing to the upside from the hikes which will come after a gap of two years.

10 Jan 2024, 12:18:50 PM IST

Sensex Today Live: ONGC Videsh sets up global treasury centre at GIFT City

ONGC Videsh Ltd has incorporated a wholly owned subsidiary called OVL Overseas IFSC Ltd in Gujarat’s GIFT City that will function as a treasury hub catering to OVL and its 25 subsidiaries, including step-down subsidiaries, across 15 countries.

10 Jan 2024, 12:06:31 PM IST

Sensex Today Live: Noon Update: Sensex down 10 points at 71,376.33; HCL Tech, ICICI bank, TCS top gainers; Ultratech, NTPC lag 

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10 Jan 2024, 11:54:25 AM IST

Sensex Today Live: Suzuki Group to invest ₹3200 crore in Suzuki Motor Gujarat, to add fourth production line, says Toshihiro Suzuki

10 Jan 2024, 11:42:33 AM IST

Sensex Today Live: LIC raises stake in Navin Fluorine International by 0.24% to over 5%

Life Insurance Corporation of India has increased its stake in Navin Fluorine International, one of the largest Indian manufacturers of specialty fluorochemical by 0.24% through open market.

10 Jan 2024, 11:28:06 AM IST

Sensex Today Live: Cochin Shipyard soars 8.5% as stock to split from ₹10 per share to ₹5 

10 Jan 2024, 11:21:38 AM IST

Sensex Today Live: Zee gains 4%; Sony unit continuing merger talks with India's Zee, reports Nikkei

Sony Group is continuing talks with Zee Entertainment Enterprises to merge their businesses in India, the Nikkei reported on Wednesday, citing people involved in the negotiations, after media reports earlier said the Japanese company was planning to scrap the $10 billion deal.

10 Jan 2024, 11:04:39 AM IST

Sensex Today Live: Adani group to invest ₹2 lakh crore in next 5 years in Gujarat: Chairperson Gautam Adani

10 Jan 2024, 10:53:10 AM IST

Sensex Today Live: Infibeam Avenues jumps 6% to hit 52-week high on ₹2,000 crore MoU with Gujarat govt

10 Jan 2024, 10:41:06 AM IST

Sensex Today Live: Manappuram Finance slumps 7% after Sebi reportedly put IPO of arm Asirvad Microfinance on hold

10 Jan 2024, 10:27:07 AM IST

Sensex Today Live: KIOCL slips 3% as company halts activities at its pellet manufacturing facility in Mangalore

The company said it has temporarily halted activities at its pellet manufacturing facility in Mangalore from Tuesday. This suspension is attributed to the lack of "iron-ore fines," which are essential for the plant's functioning. The pellet plant plays a vital role in KIOCL's production chain and is a significant aspect of the company's operational processes.

10 Jan 2024, 10:13:47 AM IST

Sensex Today Live: Paytm to invest ₹100 crore in GIFT City; plans to offer AI-driven cross-border remittance

10 Jan 2024, 10:00:30 AM IST

Sensex Today Live: Vedanta falls over 2% after Moody's downgrades rating on senior unsecured bonds

Rating agency Moody's Investors Service has downgraded Vedanta Resources' rating on the senior unsecured bonds issued by Vedanta Resources to Ca from Caa3. The credit rating agency also downgraded the Corporate Family Rating of Vedanta Resources to Caa3 from Caa2.

10 Jan 2024, 09:46:26 AM IST

Sensex Today Live: Delta Corp drops 3% as consolidated net profit for the quarter ended December plunged 59.34%

 The gaming services company reported a consolidated net profit of 34.48 crore for the quarter ended December, down 59.34%. The revenue from operations fell 15.58 to 234.41 crore. The company recorded an EBITDA of 55.5 crore, down 45%.

10 Jan 2024, 09:32:07 AM IST

Sensex Today Live: Among sectors, Nifty Bank and Financial services lagged, while auto, realty and metal topped charts

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10 Jan 2024, 09:21:15 AM IST

Sensex Today Live: Sensex was at 71,405, up 19 points; HCL Tech, Wipro and Titan are the top gainers; Axis Bank, NTPC were the main laggards

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10 Jan 2024, 09:17:59 AM IST

Sensex Today Live: Sensex and Nifty open flat tracking global markets; IT, banks in focus

10 Jan 2024, 09:10:46 AM IST

Sensex Today Live: The Indian rupee opened flat at 83.12 per US dollar against Tuesday’s close of 83.11

10 Jan 2024, 09:03:54 AM IST

Sensex Today Live: Indices higher in pre-opening session; Vedanta, Delta Corp in focus; Sensex up 100 points

10 Jan 2024, 08:50:06 AM IST

Sensex Today Live: Centre to take foot off capex pedal after FY25 budget

After an expected spurt in the next fiscal year, government capital expenditure (capex) may grow at a more sedate pace in the years ahead as the Centre sets its sights on fiscal consolidation, two people aware of the plans said.

The Union government may boost capex allocation by 25% to a record 12.5 trillion in 2024-25, Mint reported in November. However, the Centre is also keen to bring the fiscal deficit below the targeted 4.5% by 2025-26.(read more)

10 Jan 2024, 08:36:47 AM IST

Sensex Today Live: Oil prices extend gains after US crude stocks draw

On Wednesday, oil prices experienced a slight increase, continuing the upward trend from the previous day. This rise was influenced by industry data revealing a greater-than-expected decline in U.S. crude stocks last week. However, gains were limited due to a larger-than-forecast increase in product inventories.

Brent crude futures saw a 29-cent rise, or 0.4%, reaching $77.88 a barrel. West Texas Intermediate crude futures also gained 29 cents, or 0.4%, to settle at $72.53 a barrel.

10 Jan 2024, 08:24:44 AM IST

Sensex Today Live: Stocks to Watch: M&M, Lupin, Delta Corp, PFC are among stocks that are likely to be in news today

M&M, Lupin, Delta Corp, PFC, Steel Strips Wheels, KIOCL are among stocks that are likely to be in news today.  

Balrampur Chini Mills, Bandhan Bank, Chambal Fertilisers, Delta Corp, Escorts, GNFC, Hindustan Copper, Indian Energy Exchange, India Cements, Nalco, Piramal Enterprises, and SAIL are the stocks that are under F&O ban today.

10 Jan 2024, 08:12:29 AM IST

Sensex Today Live Updates: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher

Nifty 50 has been hovering between a tight range for some time with bias maintained positive and, as said earlier, needs to breach the 21,700–21,750 zone decisively to indicate a fresh breakout for further upward move. At the same time, the 21,450 levels, where 20 DMA lies, are acting as a strong support zone as of now. With a break below 20 DMA, the next support is at the 21,250 level.

Bank Nifty also has the overall sentiment and bias intact and needs to breach the 48000–48200 zone decisively for a fresh further upside move, with currently 46300 levels maintained as a good support zone. However, the support for the day is seen at 70,900/21,400, while the resistance is seen at 71,800/21,700. Bank Nifty would have a daily range of 46,800–47,800 levels.

Parekh recommends buy on DCX Systems Ltd at 351.05 with a stop loss of 340 and a target price of 375. Laurus Labs at 424.85 with a stop loss of 410 and a target price of 460. TD Power Systems Ltd at 282.55 with a stop loss of 275 and a target price of 300.

10 Jan 2024, 08:00:38 AM IST

Sensex Today Live Updates: Moody's downgrades rating on senior unsecured bonds issued by Vedanta Resources

Ratings agency Moody's Investors Service has downgraded Vedanta Resources' rating on the senior unsecured bonds issued by Vedanta Resources to Ca from Caa3. The credit rating agency also downgraded the Corporate Family Rating of Vedanta Resources to Caa3 from Caa2.

10 Jan 2024, 07:50:13 AM IST

Sensex Today | Share Market Live Updates: Gold prices steady ahead of a key US inflation data

Gold prices held steady on Wednesday, as investors refused to make big bets ahead of a key U.S. inflation print that could offer more clarity on when the Federal Reserve might begin cutting interest rates. Spot gold rose 0.1% to $2,031.30 per ounce, while U.S. gold futures rose 0.2% to $2,036.90 per ounce.

10 Jan 2024, 07:39:03 AM IST

Sensex Today | Share Market Live Updates: Asian stock mixed as Wall Street struggles overnight 

Stocks in Asia opened mixed after US benchmarks struggled. Benchmark indexes rose in Japan, with the Nikkei 225 Stock Average extending gains after hitting its highest in more than three decades. Investor optimism is returning to the country after its long battle with deflation. Stocks in Australia and South Korea edged lower while futures in Hong Kong pointed to declines. Wall Street drifted through a quiet day of mixed trading Tuesday, where most stocks fell but a handful of influential companies kept the losses in check.

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