Benchmark indices ended higher for the third trading session of 2022. Sensex rose 367 points to 60,223 and Nifty climbed 120 points to 17,925.
Earlier, benchmark indices opened flat amid mixed global cues. At 09:16 hours, the 30-share BSE index was trading 14 points lower at 59,841.45, and the broader NSE Nifty was down 17 points to 17,787.35.
Here are all the live updates from Dalal Street!
3:30 pm: Market ends higher
Sensex rose 367 points to 60,223 and Nifty climbed 120 points to 17,925.
3:20 pm: Market update
Sensex rises 376 points to 60,232 and Nifty gains 105 points to 17,910.
2:50 pm: Expert comment
Gaurav Garg, Head of Research, Capitalvia Global Research said, "After a cautious start today, equity benchmarks were trading around the day's highs, with the Sensex and Nifty both in positive territory. Traders are more hopeful with the RBI's decision to keep the reverse repo rate unchanged in the next policy amid an increase of Corona cases in India. The Indian market is gaining strength as a result of the Federal Reserve's hawkish move to enhance economic growth. Sensex is currently trading around 60,124. There were 17 stocks advancing against 13 stocks declining on the index.
The CNX Nifty is currently trading around the level of 17,913. There were 34 stocks advancing against 16 stocks declining on the Nifty index.
The broader indices were trading in green, the BSE mid cap down by 0.23%, while small cap index down by 0.02%. Our research suggests that 60,000 may act as an important psychological level in the market. Sustaining above this level can leads to a higher level of 60500. Technical indicators also support positivity in the market."
2: 40 pm: Bharti Airtel, Hughes form JV to offer satellite broadband services in India
Hughes Communications India Pvt Ltd, (HCIPL), a majority-owned subsidiary of Hughes Network Systems, LLC (HUGHES) and Bharti Airtel Limited have announced the formation of a joint venture to provide satellite broadband services in India, the companies said on Wednesday. Airtel share trading flat at Rs 700 in afternoon session.
2:25 pm: ICICI Bank facilitates payment of customs duty online
The private lender announced the launch of a facility for its customers-both retail and corporate-to pay customs duty digitally. Corporate customers can pay customs duty through the Bank's Corporate Internet Banking (CIB) and mobile banking app InstaBIZ, while retail customers can do so through the Bank's retail internet banking platform.
The bank's stock was trading 2.87% higher at Rs 795.45 in afternoon trade.
1:55 pm: Market update
Sensex rises 421 points to 60,277 and Nifty gains 123 points to 17,928. Bajaj Finserv, Bajaj Finance, Kotak Bank, Axis Bank and ICICI Bank top Sensex gainers, rising up to 5% in afternoon trade.
1: 45 pm: Force Motors sales rise 53% in December
Force Motors' total sales increased 52.9 percent to 1,657 units in December from 1,084 units in the corresponding period a year ago.
Force Motors shares rose 3.98 percent at Rs 1,298.25 apiece on BSE.
1: 35 pm: TVS Motor appoints Prof Venkat Viswanathan as technical advisor for electric mobility
TVS Motor Company has announced the appointment of Professor Venkat Viswanathan as Technical Advisor for Electric Mobility. The decision is aimed to enhance TVS Motor's battery technology capabilities and strengthen its commitment to offer best-in-class green mobility globally, the company said. The stock was trading 0.92% higher at Rs 636.50 against the previous close of Rs 630.70 on BSE.
1:30 pm: Market cap of BSE-listed firms stood at Rs 272.04 lakh crore.
1:20 pm: Ramesh Damani buys 1.26% stake in Panama Petro in Q3.
1:00 pm: AU Small Finance Bank stock rises 12% on strong Q3 business update
Shares of AU Small Finance Bank jumped over 12% percent today after the lender posted its business update for the third quarter ended December 2021. The stock rose 12.18% to an intraday high of Rs 1,228 against the previous close of Rs 1094.65 on BSE.The share has gained 13.75% in the last 3 days. It opened 3.23% higher at Rs 1,130 today.
12:30 pm: Market update
Sensex gains 285 points to 60,141 and Nifty surges 93 points to 17,898.Bajaj Finserv, Bajaj Finance, Kotak Bank, Axis Bank and ICICI Bank top Sensex gainers, rising up to 5% in afternoon trade.
12: 00 pm: TVS Motor appoints Venkat Viswanathan as technical advisor for electric mobility.
11:30 am: Market check
The 30-share index was trading over 100 points higher at 59,961.01 and Nifty was up 36 points to 17,841.6.
Bajaj twins were the top gainers on Sensex. Shares of IT companies were trading sharply lower in the volatile session today.
11:00 am: Services sector PMI at 3-month low
India’s business activity slipped to a three-month low at 55.5 in December from a 58.1 in November. “Despite falling from 58.1 in November to a three-month low of 55.5 in December, the seasonally adjusted India Services Business Activity Index was still consistent with a marked rate of economic expansion. The upturn was often associated with improving market conditions and accommodative demand,” reported IHS Markit.
10:45 am: Bajaj Finance shares zoom 3%
Shares of Bajaj Finance were trading 3% higher in the early trade after the company said new loans climbed 23.3% on a year-on-year (y-oy) basis. The large-cap stock was the top Sensex gainer. It rose 3.5% to Rs 7,599 against the previous close of Rs 7,342.75 on BSE.
The company's deposits rose 26.3% to Rs 30,000 crore as of 31 December 2021 compared to Rs 23,777 crore as of 31 December 2020.
10:15 am: Sensex reclaims 60k mark
Sensex jumped over 100 points to reclaim the 60,000 mark today and Nifty was trading 33 points higher at 17,839.
Bajaj twins were the top gainers on Sensex, advancing over 2 per cent, followed by ICICI Bank, Axis Bank, Kotak Mahindra Bank and HDFC Bank.
9:40 am: Shares of IT companies trade lower
Shares of IT companies were trading sharply lower in the early morning trade today. HCL Tech, Tech Mahindra, Wipro and Infosys were trading 1 per cent lower on the Bombay Stock Exchange (BSE).
9:16 am: Market opening
Indian benchmark indices opened flat amid mixed global cues. At 09:16 hours, the 30-share BSE index was trading 14 points lower at 59,841.45, and the broader NSE Nifty was down 17 points to 17,787.35.
HCL Tech was the top loser in the Sensex pack, declining over 1 per cent, followed by Infosys, TCS, IndusInd Bank and Wipro.
Bajaj Finance and Dr Reddy were among the top Sensex gainers.
9:10 am: Market at Pre-open
The benchmark indices were trading flat in the pre-open session. Sensex was trading 24 points at 59,880.04 and Nifty was up 17 points at 17,822.5.
8:55 am: Pre-market comment by Mohit Nigam, Head - PMS, Hem Securities
Benchmark Indices are expected to open on a marginally lower note as suggested by trends on SGX Nifty. The American Market ended negative while the European market closed positive on the previous trading day. Asian markets are trading mixed as investors took note of data that showed Chinese factory activity growth accelerated in December.
The Centre for Monitoring Indian Economy (CMIE) in its latest data has shown that the unemployment rate in the country touched a four-month high of 7.91 percent in December 2021. The unemployment rate had stood at 7 percent in November, the highest since August which was at 8.3 percent. But markets soon gained traction, taking support from government data showing that India’s exports surged 37 percent on an annual basis to $37.29 billion in December 2021.
Some optimism also came with Union Commerce and Industry Minister Piyush Goyal’s statement that the Omicron variant of COVID-19 will be a short-term disruption on businesses, adding that supply chains and industrial activities will continue at full speed.
Momentum on the upside picked up as it sustained above levels of 17,500. Forming a sizable bullish candle, the Nifty ended above 17,800. On technical front, Nifty's immediate support and resistance can be 17,500 and 18,000 respectively. While for Bank Nifty 36,300 and 37,300 may act as immediate support and resistance.
8:45 am: Global Markets
The Dow Jones Industrial Average posted closing record highs for the second straight trading day of the year.
On Wall Street, the S&P 500 ended 3.17 points lower at 4,793.39, the Nasdaq Composite declined 209.5 points to 15,623.25 and the Dow Jones rose 213 points to 36,798.53.
In Asia, Nikkei Weighted index was down 0.04 per cent and Hang Seng was trading 0.6 per cent lower. Shanghai Composite was down 0.3 per cent too.
8:40 am: FII and DII action
Foreign institutional investors (FIIs) bought shares worth Rs 1,273.86 crore on January 4, and domestic institutional investors (DIIs) purchased shares worth Rs 532.97 crore, as per provisional data available on NSE.
8:35 am: Rupee fell 29 paise
The rupee fell 29 paise to close at 74.57 against the US dollar, tracking the strength of the American currency in the overseas market. At the interbank foreign exchange market, the local currency opened at 74.49 and witnessed an intra-day high of 74.46 and a low of 74.61 against the US dollar.
8:30 am: SGX Nifty
The Indian equity market is likely to open on a flat note as SGX Nifty was down 31.5 points to 17,813.20 at 8:30 am.
Singapore Nifty (SGX Nifty) is the Indian Nifty index that is traded in the Singapore Stock Exchange and is considered to be the first indication of the opening of the Indian market.
8:15 am: Market on Tuesday
Sensex ended 672 points higher at 59,855 and Nifty climbed 179 points to 17,805.
Of 30 Sensex shares, 25 ended in the green. Market cap of BSE listed firms rose to Rs 271.40 lakh crore.
NTPC, SBI and PowerGrid were the top Sensex gainers , rising up to 5.56%. Sun Pharma, IndusInd Bank, Ultratech Cement, Dr Reddy's Labs and Infosys were the only Sensex losers falling up to 1.21%.
Copyright©2023 Living Media India Limited. For reprint rights: Syndications Today