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Share Market update: Sensex rises 465 pts, Nifty above 17,500; M&M, Bajaj Finserv gain

Share Market update: Sensex rises 465 pts, Nifty above 17,500; M&M, Bajaj Finserv gain

Sensex closes 465 points higher at 58,853 and Nifty rises 127 points to 17,525. The Indian market ended higher on Friday after a day of losses led by gains in IT and banking stocks.

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

The Indian market ended higher today. Sensex rose 465 points to 58,853 and Nifty gained 127 points to 17,525. The market ended higher on Friday after a day of losses led by gains in IT and banking stocks. Sensex rose 89 points to 58,387 and Nifty gained 7 points to 17,389. Of 30 Sensex stocks, 16 ended in the green.

Stocks in news: Bharti Airtel, Adani Ports, SBI, Tata Motors and more

Here's a look at live market updates today.

3:39 pm: Market ends higher

Sensex closes 465 points higher at 58,853 and Nifty rises 127 points to 17,525.

3:12 pm : Nykaa shares gain post Q1 earnings, what should investors do?

Shares of Nykaa (listed as FSN E-Commerce Ventures Limited) climbed over 4 per cent today after the fashion retailer reported a 33.4 per cent rise in consolidated net profit in the June quarter. Nykaa shares gained 4.3 per cent intraday to Rs 1,473.75 on BSE. Earlier, the stock opened 3.07 per cent higher at Rs 1,473.35 against the previous close of Rs 1,412.60.

Nykaa stock is trading lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. The stock has slipped 34.12 per cent this year and fallen 18.21 per cent in a month.

It touched a 52-week high of Rs 2,574 on November 26, 2021 and hit a 52-week low of Rs 1208 on BSE.

Total 0.31 lakh shares of the firm changed hands amounting to a turnover of Rs 4.33 crore. Market cap of the firm rose to Rs 67,158 crore on BSE.

2:54 pm: Angel One logs robust growth across business parameters

Fintech company Angel One (formerly known as Angel Broking Limited) with its digital-first approach reported continued growth momentum in July 2022. The company's client base grew to 10.75 million, an 88.3% YoY growth, with the gross client acquisition of 0.34 million during July 2022 Continuing its robust growth, Angel One recorded processing 66.60 million orders, a 39.3% YoY growth. The company also recorded growth in its Average Daily Turnover, as it surged by 93.2% YoY to Rs 10.31 trillion. This led to a 30 bps YoY expansion in its Overall Equity Turnover Market Share to touch 22% in July 2022. The Average Client Funding Book stood at Rs 14.28 billion

2:06 pm: Expert Take

Tirthankar Das, Technical & Derivative Analyst, Retail, Ashika Stock Broking

"On the technical front, Nifty  formed a small negative candle on the daily chart with minor upper and lower shadows resembling closer to a Doji kind of pattern reflecting rangebound action in the market.  Hence one can expect consolidation in price action to continue with sturdy hurdle at 17,500. Momentum oscillators are witnessing overbought levels but no signs of exhaustion can be seen yet, the indicator though  has flatten during the period. On the downside the psychological level of 17,000 which further coincides with the 200dma would be the immediate short term trend deciding level for the market. On the upside the elevated target level for Nifty is around 17500 (being 80% retracement of two-month decline (18,100-15,183). Hence, during the day Index is likely to open on a negative note with crucial support level at 17,200-17,225, breach of which can drag the index further lower towards 17,070."

1:19 pm: Market update

Sensex rises 412 points to 58,800 and Nifty gains 125 points to 17,522 in the afternoon session.

12:30 pm:  Paytm shares climb 7% despite rise in Q1 loss, here's why

Shares of Paytm (listed as One97 Communications) gained nearly 7 per cent on Monday after the Vijay Shekhar Sharma-led firm reported a 88 per cent rise in revenue for the quarter ended June 2022. Sentiment turned positive toward the stock after the firm said it remained confident of achieving break-even by September '23 quarter and was also bullish on customer demand on usage of platform and monetisation.

Paytm stock rose 6.74 per cent to Rs 836.5 today against the previous close of Rs 783.65 on BSE.

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

However, the stock has lost 37.62 per cent in 2022 but risen 19.14 per cent in a month.

Market cap of Paytm rose to Rs 54,130 crore on BSE.

Total 3.94 lakh shares of the firm changed hands amounting to a turnover of Rs 32.32 crore. The stock hit a 52-week high of Rs 1961.05 on November 18, 2021 and a 52-week low of Rs 511 on May 12, 2022.

12:09 pm: Market Update

Sensex rises 311 points to 58,698 and Nifty gains 83 points to 17,480 in the afternoon session.

11:45 pm: This Jhunjhunwala stock turned into a multibagger in three years

Shares of Escorts Kubota have rallied 257 per cent in the last three years. The large cap stock, which closed at Rs 460.02 on August 7, 2019 rose to a high of Rs 1,648 on the BSE today. An amount of Rs 1 lakh invested in the shares of Escorts Kubota three years ago would have turned into Rs 3.58 lakh today. In comparison, Sensex has risen 56.75 per cent during the period.

On the factors behind the rally, Manoj Dalmia, founder and director, Proficient Equities said, "The reasons that are fueling its rally could be being debt free for the first time in last five years, liability growth percentage reducing consecutively for the last two years and spend less than 1 per cent of its operating revenues for interest expenses. A target price of Rs 1,650 is recommended."

Ace investor Rakesh Jhunjhunwala held 1.39 per cent stake or 18.30 lakh shares in the farm equipment maker at the end of the June quarter.

9:47 am: Market turns positive

Sensex rises 131 points to 58,518 and Nifty gains 45 points to 17,442.

9:24 am: Expert take

V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"A paradox in the economy-market connect is that good news on the economy can turn out to be bad news for markets. This is playing out now. The July US jobs data came in at a robust 580000 against the poll of 250000. This indicates a strong economy nowhere near recession. This means the Fed might hike rates by another 75 bps in September to cool the economy to contain inflation. Therefore, there can be a near-term strengthening of the dollar. It remains to be seen how FIIs will react to this.

Growth impulses in India are strong. Leading indicators like bank credit growth, capacity utilisation in manufacturing, automobile demand etc suggest an economy in strong rebound. Financials, capital goods and construction are on a strong wicket. Pharma and FMCG are stable. Robust jobs data in the US bodes well for the IT sector."

9:21 am: Market update

Sensex falls 87 points to 58,300 and Nifty loses 32 points to 17,365 in opening trade.

8:48 am: Expert take

Prashanth Tapse - Research Analyst, Senior VP (Research), Mehta Equities

"Key benchmark indices are likely to see a gap down opening in Monday trades, in tandem with weakness in other Asian gauges after US markets closed lower on Friday. If the weakness in Asian markets persisted during the course of the trading session, traders back home would take the opportunity to book profits as the markets had risen sharply in the previous week. The biggest negative catalyst is that the US yield curve has steepened, indicating signs of recession which would further worsen the sentiment across the global equities. Last week's strong US jobs report further bolsters the case for the Federal Reserve to continue its aggressive policy tightening path. Despite the signs of caution, there are some positive catalysts like oil prices tumbling 10% last week, and FIIs turning net buyers of local equities in all the 5 trading sessions last week and buying shares worth Rs 6,992 crore."

8:41 am: Expert Take

Amol Athawale, Deputy Vice President - Technical Research, Kotak Securities

"Daily and intraday charts are indicating the continuation of a non-directional activity in the near future. The short texture of the market is still on the bullish side but a fresh uptrend rally is possible only after the breakout level of 17,500. Above the same, the index could rally up to 17,600-17,750. On the flip side, below 17,500, the index would retest the level of 17,250-17,200 and if the downside continues, it may correct up to 17,050-17,000."

8:20 am: SGX Nifty

The Indian market is likely to open lower today as SGX Nifty fell 22 points to 17,401. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Friday

The Indian market ended higher on Friday after a day of losses led by gains in IT and banking stocks. Sensex rose 89 points to 58,387 and Nifty gained 7 points to 17,389. Of 30 Sensex stocks, 16 ended in the green.

UltraTech Cements, ICICI Bank, Bharti Airtel and PowerGrid Bank were the top Sensex gainers, rising up to 2.31 per cent.

M&M, Maruti Suzuki, Reliance Industries and IndusInd Bank were the top Sensex losers, falling up to 2.06 per cent.