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Share Market update: Sensex, Nifty close higher; Kotak Bank, L&T top gainers

Share Market update: Sensex, Nifty close higher; Kotak Bank, L&T top gainers

Stock Market Live Updates: The Indian market closed higher today. Sensex rose 37.87 points to 60,298 and Nifty gained 12 points to 17,956. Sensex climbed 418 pts to 60,260 and Nifty gained 119 pts to 17,944 in the previous session. Last time, the 30-stock index hit the 60K level on April 5, 2022.

 Share Market Live: Tracking Sensex, Nifty today Share Market Live: Tracking Sensex, Nifty today

Share Market Today: The Indian market closed higher today. Sensex rose 37.87 points to 60,298 and Nifty gained 12 points to 17,956. Sensex closed above the 60K mark after four months on Wednesday amid positive global cues. Sensex climbed 418 pts to 60,260 and Nifty gained 119 pts to 17,944. Last time, the 30-stock index hit the 60K level on April 5, 2022. The index closed at 60,176 in that session. Of 30 Sensex stocks, 23 ended in the green. Bajaj twins, Bharti Airtel and Tech Mahindra were the top Sensex gainers, rising up to 5.74 per cent.

Here's a look at live market updates today.

3:36 pm: Closing update

Sensex rises 37.87 points to 60,298 and Nifty gains 12 points to 17,956.

2:33 PM: ICICI Bank stock hits record high, check the new target price

Shares of ICICI Bank hit an all-time high amid highly volatile trade today. ICICI Bank stock logged a record high of Rs 886 against the previous close of Rs 883.20 on BSE.  The banking share has gained 27.43 per cent in one year and risen 18.5 per cent since the beginning of this year. In a month, the share has climbed 13.63 per cent.

However, the stock opened lower at Rs 880.20 today. Total 15.22 lakh shares of the bank changed hands amounting to a turnover of Rs 133.89 crore on BSE. Market cap of the bank stood at Rs 6.10 lakh crore.

1:54 pm: Sona BLW Precision shares fall 6% after Blackstone sells stake

Shares of Sona BLW Precision Forgings fell over 6 per cent today after private equity firm Blackstone sold 16 per cent stake in the global automotive technology company. According to reports, Blackstone via its affiliate - Singapore VII Topco III PTE sold a part of its stake in Sona BLW Precision Forgings Ltd via block deal today. Blackstone is estimated to have raised Rs 4,000 crore through the transaction. Sona BLW Precision Forgings shares opened lower at Rs 524 today.

12:17 pm: Maruti Suzuki all new Alto K10 to be launched shortly

In a few hours from now, Maruti Suzuki will launch one of its flagship entry level hatchback, the Alto K10. The Alto K10 is expected to be a completely new car with changes in both exteriors and interiors. The car is likely to compete with Renault Kwid. The new Alto K10 is likely to be offered in six colors. The new Alto K10 is likely to feature a seven-inch touchscreen infotainment with steering-mounted controls that will be compatible with both Android Auto as well as Apple CarPlay.
 
Powering the new-gen Maruti Suzuki Alto K10 will be an updated K-Series 1.0-litre engine.

12:08 pm: Latest Update

Sensex fell 275 pts to 59,984 and Nifty lost 76 pts to 17,867 in the afternoon trading session today.

10:08 am: US market update

Wall Street update: US stocks down after Fed minutes; Nasdaq falls over 1%

US stocks closed down on Wednesday, with indexes volatile after investors thought minutes from the Federal Reserve's meeting in July suggested policymakers may be less aggressive than previously thought when they raise interest rates in September.

Major indexes sharply cut their losses after the release of the minutes, with the Dow briefly turning positive before they returned to earlier losses.

The minutes also showed that Fed officials saw "little evidence" late last month that US inflation pressures were easing, and that participants said it may take longer than anticipated for inflation to dissipate.

10:05 am: Market update

Sensex rises 19 pts to 60,279 and Nifty gains 6 pts to 17,950.

9:19 am: Market update

Sensex falls 195 pts to 60,064 and Nifty loses 45 pts to 17,898 in early trade.

9:12 am: Expert take

VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"The Fed minutes suggest continuation of the hawkish stance and this may slightly impact sentiments in the mother market, US. But this is unlikely to impact the bullish sentiments in India since the return of the FIIs has completely altered the market mood and the bulls are calling the shots now. Dips are likely to get bought in the near-term.

From the fundamental perspective, there are no triggers to take the market much higher from the present levels since there is no valuation comfort. Nifty is now trading at around 21 times FY23 earnings. The market, it appears, is banking on continuation of good GDP and earnings growth this year and the next. If the growth momentum sustains, capital goods and automobiles will attract more buying."

8:45 am: Expert Take

Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities "Technically, the market is consistently forming higher high and higher low series formation, indicating continuation of an uptrend in the near future. The Nifty has also formed a bullish candle on daily charts that also supports the uptrend. However, a quick intraday correction is not ruled out if the index trades below 17,850, and below the same it could touch 17,700-17,680 levels.  On the flip side, above 17,850 the first upside target for the index would be 18,000 and on further upsurge it could move up to 18,175."

Bulls vs Bears: Here's what to expect on Dalal Street today

8:20 am: SGX Nifty

The Indian market is likely to open lower today as SGX Nifty fell 33 points to 17,935. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Wednesday

Sensex closed above the 60K mark after four months amid positive global cues. Sensex climbed 418 pts to 60,260 and Nifty gained 119 pts to 17,944. Last time, the 30-stock index hit the 60K level on April 5, 2022. The index closed at 60,176 in that session. Of 30 Sensex stocks, 23 ended in the green. Bajaj twins, Bharti Airtel and Tech Mahindra were the top Sensex gainers, rising up to 5.74 per cent. M&M, Ultratech Cement, Maruti and Tata Steel were the top Sensex losers, falling up to 1.07 per cent. Mid-cap and small-cap indices on BSE gained 161 points and 148 points, respectively.

Published on: Aug 18, 2022, 8:43 AM IST
Posted by: Aseem Thapliyal, Aug 18, 2022, 8:40 AM IST