Sensex | Nifty | Share Market News Highlights: Sensex rebounds 479 points, Nifty50 reclaims 17,100; FMCG, bank stocks climb

Today's rebound is just a respite in a corrective phase and the tone would remain negative until Nifty decisively reclaims 17,400 levels, said Ajit Mishra, VP - Research, Religare Broking Ltd.

14 out of the 15 sector gauges -- compiled by the National Stock Exchange -- settled in the green. Sub-indexes Nifty FMCG and Nifty Bank outperformed the NSE platform by rising as much as 1.49 per cent and 1.05 per cent, respectively. On the flipside, Nifty Media edged 0.07 per cent lower today.

Mid- and small-cap shares finished on a higher note as Nifty Midcap 100 rose 0.62 per cent and small-cap climbed 0.80 per cent.

On the stock-specific front, PowerGrid was the top Nifty gainer as the stock soared 3.48 per cent to close at Rs 215.60. Coal India, Axis Bank, Bajaj Auto and NTPC were also among the gainers. In contrast, Asian Paints, Adani Enterprises, Dr Reddy's, Bharti Airtel and ICICI Bank were among the top laggards.

Sensex rebounds 479 points or 0.80 per cent to close at 57,626, Nifty moves 140 points or 0.82 per cent higher to settle at 17,124

Sensex climbs 455 points or 0.80 per cent to trade at 57,602 in late deals, Nifty moves 127 points or 0.75 per cent higher to trade at 17,110

Shares of Coal India on Wednesday climbed over 2.5 per cent in afternoon deals to trade near their 52-week high levels. The stock touched an intraday high of Rs 232.50 on NSE, rising 3.13 per cent from its previous close of Rs 225.45. (Read more)

Angel One said it has registered 90.54 million orders in September this year, a 65.8 per cent year-on-year (yoy) increase.

Jewellery stocks have delivered glittering returns in the last few months amid hopes of a strong demand this festive season. September quarter business updates by the two jewellery Titan Company and Kalyan Jewellers have been taken positively by investors. (Read more)

The allotment of shares of consumer durable and electronics retailer Electronics Mart India will be finalised today. The grey market premium (GMP) of the stock stood at Rs 30 today, implying that the grey market expects the firm to list around Rs 89 (Rs 59 + Rs 30). (Read more)

Energy stocks, such as Indian Oil Corp, BPCL, Oil India, HPCL and index heavyweight Reliance Industries, climbed on hopes that Union Cabinet may approve subsidies for oil marketing companies. The Cabinet is likely to clear Rs 22,000 crore for these companies for losses they have incurred on retail sales of petrol and diesel, sources told Business Today TV. The OMCs have incurred heavy losses on the sale of petrol and diesel due to non-revision of prices for a record 137 days from November 4, 2021 to March 22, 2022. (Read more)

Sensex rises 353 points or 0.62 per cent to trade at 57,501, Nifty moves 101 points or 0.60 per cent to trade at 17,085 during afternoon deals

Shares of Liberty Shoes have doubled investor wealth in a month, shrugging off volatility in the stock market. Liberty Shoes shares, which closed at Rs 175.55 on September 9, 2022, hit a record high of Rs 402.2 in today's session, translating into gains of 129.10 per cent during the period. In comparison, Sensex has lost 4.27 per cent or 2,555 points during the period. (Read more)

Varun Beverages stock has rallied nearly 250 per cent in the last two years and if a few analysts were to be believed, this rally has more legs, thanks to strong earnings momentum, higher acceptance of newly launched products and increased penetration in the newly acquired territories of South and West India. (Read more)

Sensex slips 21 points or 0.04 per cent to trade at 57,126, Nifty moves 10 points or 0.06 per cent lower to trade at 16,973

Shares of Coal India rose 2.49 per cent to trade at Rs 230.95 in late morning deals.

Nifty may hold the crucial 200-DMA (Day moving average) at 16,900-16,950, however, formation of lower high- lower low signifies corrective bias, said Tirthankar Das, Technical & Derivative Analyst, Retail, Ashika Stock Broking Ltd. Until and unless, the index provides a decisive close above 17,350, it would be a sell-on-rise market, he added.

Megastar Foods, a multibagger stock, today hit its upper circuit limit for the second straight day, as shareholding data suggests seasoned investor Ashish Kacholia bought 1.04 per cent stake in the food processing company in the quarter gone by. (Read more)

Shares of PowerGrid rose 2.45 per cent to trade at Rs 213.40 in early trade.

14 out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the green. Sub-indexes Nifty IT, Nifty Auto, Nifty FMCG and Nifty Financial Services were outperforming the NSE platform by rising 1.02 per cent, 0.71 per cent, 0.44 per cent and 0.45 per cent, respectively. On the flipside, Nifty Media fell 0.26 per cent in early trade.