Share Market update: Sensex rises 130 pts, Nifty at 17,700; Tata Steel, NTPC top gainers

The Indian market ended higher today. Sensex rose 130 points to 59,462 and Nifty closed 40 points higher at 17,699. The stock market ended higher on Thursday, led by positive global cues. Sensex rose 515 points to 59,332 and Nifty closed 106 points higher at 17,640.

Here's a look at live market updates today.

Stocks in news: LIC, Adani Enterprises, Bata India, Trent and more

3:31 pm:  Market ends higher

Sensex rises 130 points to 59,462 and Nifty closes 40 points higher at 17,699.

3:16 PM: BSE SME segment sees representation from 20 states

BSE launched a dedicated platform for listing small and medium enterprises (SMEs) in March 2012 and since then hundreds of such entities from across the country have listed with some even growing in size and moving to the main segment of Asia’s oldest stock exchange.

3:05 PM: Nearly 100% of PMS schemes deliver positive return to rich investors in July

Majority of portfolio managers for high-net-worth (HNI) investors managed to outpace the benchmark equity indices in July when the BSE Sensex and NSE Nifty advanced over 8.50 per cent. The broader BSE 500 index rallied 9.54 per cent during the same period.

Data collated by PMS Bazaar showed that PMS schemes like Lake Water Advisors' multicap strategy Lake Water gained the most 17.43 per cent in July. It was followed by Hem Securities' smallcap strategy India Rising SME Stars (up 17.04 per cent) and Purnartha Investment Advisers' multicap strategy Long Term Equity With Concentrated (up 16.65 per cent) and Unique Asset Management's flexicap strategy Focused Fund (up 16.59 per cent).

3:03 PM: Paytm stock slips 6% after proxy advisory firm opposes CEO's reappointment

Stock of Paytm (listed as One97 Communications) slipped over 6 per cent on Friday after shareholders of the firm were advised by the Institutional Investor Advisory Services India (IIAS) against the reappointment of Vijay Shekhar Sharma as its chief executive, and his remuneration.

The proxy advisory firm has said that Sharma had, in the past, made commitments that did not play out well.

Paytm shares slipped 6.12 per cent to Rs 775 against the previous close of Rs 825.50 on BSE.

The stock opened lower at Rs 820 today.

Shares of the digital payments firm were trading higher than 20-day, 50-day and 100-day moving averages but lower than 5-day and 200-day moving averages.

1:30 PM: Market outlook

Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities

"Equity markets continued to rally with resilient performance during the week. Key bench mark indices like BSE-30 and Nifty-50 has given positive returns this week. Market rally has been broad based with gains seen in BSE Midcap, BSE Smallcap and majority of sectoral indices. Sectoral index performance was led by BSE Metals and BSE Capital Goods indices, whereas some defensive sectors underperformed the broader market.

Global equity markets continued their strong rally, as the US CPI moderated in July. In India, FPIs flows were positive this week. With Q1FY23 result season coming towards close, market focus will shift towards macro factors that includes inflation, Central Bank rate action, oil prices and recession concerns in key economies globally ."

12:45 pm: Prevest DenPro Limited reports Q1 earnings

The dental products manufacturer reported a 50 per cent rise on a sequentially basis in the net profit to Rs 3.68 crore in the June 2022 quarter as compared to a net profit of Rs 2.46 crore in the corresponding quarter of the previous year. Revenue rose 27.4 per cent to Rs 12.98 crore.

12:41 pm: Syrma SGS Technology IPO opens today: Price band, GMP, lot size and more

The initial public offer (IPO) of Syrma SGS Technology opened today. The share sale of the electronics manufacturing services (EMS) firm will close on August 18. The grey market premium (GMP) of the IPO is Rs 15. The company is offering its shares in a price band of Rs 209 to Rs 220 per share. It plans to raise Rs 840 crore at the upper end of the price band through the share sale. The lot size of Syrma SGS Technology IPO is 68 shares for which one will have to spend Rs 14,960.

A retail individual investor can submit bids for up to 13 lots or 884 shares by spending Rs 1,94,480 . DAM Capital Advisors Ltd (Formerly IDFC Securities Ltd), ICICI Securities and IIFL Securities are the book running lead managers for the IPO of Syrma SGS Technology. The allotment of shares will be done on August 23 and they are likely to be listed on BSE and NSE on August 26.

11:45 am: PV sales reach 2.93 lakh in July; Maruti Suzuki top seller: SIAM

Passenger vehicle sales reached 2,93,865 in July this year versus 2,64,442 in the same period last year, according to the Society of Indian Automobile Manufacturers (SIAM) data. The data further illustrated that Maruti Suzuki India has emerged as the segment leader with the highest number of top selling models in the segment.

On the segment-wise sales front, 1,43,522 units of passenger cars were sold in July 2022 versus 1,30,080 units in the same period last year. 1,37,104 units of utility vehicles (UVs) were sold in the month of July versus 1,24,057 units in July last year. 13,239 units of vans were sold in July 2022, up from 10,305 units sold in the same period.

11:31 am: Market update

Sensex rises 115 points to 59,447 and Nifty gains 35.70 points to 17,694.

11:25 am: Page Industries shares hit all-time high on Q1 earnings; time to buy, sell or hold?

Shares of Page Industries hit a fresh all-time high today after the firm reported a multifold rise in Q1 profit. Page Industries stock rose 2.09 per cent to a record high of Rs 50,146.4 against the previous close of Rs 49,122.05 on BSE. The large-cap stock is trading higher than 5-day, 20-day, 50-day, 100-day and 200-day moving averages.  

The stock opened higher at Rs 49,799.5 today.

The share has gained 53.5 per cent in a year and climbed 23.22 per cent since the beginning of this year.

Total of 467 shares of the firm changed hands amounting to a turnover of Rs 2.31 crore on BSE.  Market cap of the firm rose to Rs 55,435 crore on BSE.

The share hit a 52-week low of Rs 29,965 on June 30, 2021.

10:14 am: Expert take

Mohit Nigam, Head - PMS, Hem Securities

"We can see some action in the stocks that posted earnings after market hours such as Aurobindo Pharma, Apollo Hospitals, Shilpa Medicare, Quess Corp, Sunteck Realty etc. Earnings today include companies such as Apollo Tyres, Astral, Balaji Amines, Finolex Cables, ONGC, HAL, RCF, SJVN, Sun TV  etc. On the technical front, Immediate support and resistance in Nifty 50 are 17400 and 17800 respectively. Bank Nifty immediate support and resistance are 38250 and 39250, respectively."

10:13 am: Expert take

VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"The ongoing market rally is being driven mainly by two factors: One, the steady decline in dollar index from above 109 to 105.26 now facilitating capital flows to emerging markets. Two, the return of FIIs into the Indian market, which has completely changed the market sentiments here. It is important to appreciate the fact that FIIs have made a complete turnaround in their strategy in India with sustained buying over the last 10 sessions. And yesterday's buy figure of Rs 2298 cr is the highest in several months. This, and the fact that India has the best growth story for this year and the next, will impart resilience to the market. However, investors should exercise caution while chasing this rally since valuations are getting stretched. Remain invested in high quality growth stocks ; don't chase 'cats and dogs'."

9:21 am:  Sensex falls 42 points to 59,289 and Nifty loses 6 points to 17,652 in early trade.

8:45 am: Expert Take

Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities

"Technically, Nifty is trading near its important resistance level and has also formed a small bearish candle. For traders, 17,600 would be the key level to watch out for, while the overall chart structure suggests that if the market sustains above the same then breakout continuation formation could continue till 17,700-17,750. On the flip side, a sharp intraday correction is possible if the index trades below 17,600. Below which, the index could slip till 17,540-17,450."

8:20 am: SGX Nifty

The Indian market is likely to open on a flat note today as SGX Nifty rose 3.50 points to 17,692. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Thursday

The stock market ended higher on Thursday, led by positive global cues. Sensex rose 515 points to 59,332 and Nifty closed 106 points higher at 17,640. Of 30 Sensex stocks, 19 ended in the green. Axis Bank, Bajaj Finance, HDFC and Tech Mahindra were the top Sensex gainers, rising up to 2.75 per cent. ITC, NTPC and HUL were the top Sensex losers, falling up to 1.56 per cent.