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Stock Market update: Sensex ends 657 points higher, Nifty above 17,450; Adani Wilmar up 20%

Stock Market update: Sensex ends 657 points higher, Nifty above 17,450; Adani Wilmar up 20%

On Tuesday, Sensex closed 187 points higher at 57,808 and Nifty rose 53 points to 17,266. In the last three sessions, Sensex lost 1,937 points and Nifty plunged 567 points.

Stock Market LIVE: Sensex, Nifty likely to open higher today Stock Market LIVE: Sensex, Nifty likely to open higher today

On Tuesday, Sensex closed 187 points higher at 57,808 and Nifty rose 53 points to 17,266. In the last three sessions, Sensex lost 1,937 points and Nifty plunged 567 points.


Here's a look at the latest updates of the market action on BSE and NSE today.

3:32 pm: Sensex closes 657 points higher at 58,465 and Nifty gains 206 points to 17,473.

2:50 pm: Latent View Analytics stock rises 11% on strong Q3 earnings

Shares of Latent View Analytics rose over 11% today after the company reported stellar earnings for the quarter ended December. The stock opened 8.5% higher at Rs 555 against the previous close of Rs 511.50 on BSE. Later, it touched an intraday high of Rs 570.05, rising 11.45% against the previous close.

2:35 pm: Market check

Sensex trading 617 points higher at 58,426 and Nifty rises 186 points to 17,453.

2:30 pm: Glenmark Pharma share rises 3%

Glenmark Pharma share rises 3% to Rs 501.45 amid reports that the pharma firm and SaNOtize Research have launched nasal spray for COVID-19 treatment in India.

1:50 pm: UBS on Bharti Airtel earnings

"Bharti showed much better performance in Q3FY22 results versus competitors, as Jio lost 8.5 million subs and Vi lost 5.8 million subs in Q3. Despite the subscriber loss, higher tariffs and improved customer mix (3 million 4G subs were added) resulted in ARPU expanding 6.5% QoQ from Rs 153 to Rs 163, in line with our estimates," said the brokerage.

1: 45 pm: Adani Group chairman on the performance of Adani Wilmar shares

1:30 pm: Adani Wilmar stock hits upper circuit of 20% for the second consecutive session. The stock stands at Rs 318.20  against the previous close of Rs 265.20 on BSE.

1:13 pm Market check

 Sensex trading 396 points higher at 58,205 and Nifty rises 120 points to 17,387.

 12:55 pm: Expert quote on Adani Wilmar stock

Gaurav Bissa, Vice President at Trustline Securities said,"The stock was listed on the exchange yesterday and witnessed substantial overall participation of 17.37x collectively. The firm enjoys a leadership position in branded edible oil and packaged food business. Strong brand recall and broad customer reach and a diversified products portfolio. Pan India network coupled with various strong tailwinds. Therefore, sentiments are becoming positive. So, investors can book profits partially or can hold these shares for long-term gains as well."

12: 41 pm: DB Realty stock hits 52 week high as RJ to take part in fundraising

Shares of DB Realty hit an upper circuit of 5% on Wednesday after the firm said it would issue 50 million convertible warrants to non-promoter investors such as Rakhesh Jhunjhunwala's RARE Enterprises, Rekha Jhunjhunwala, KIFS Dealers, Aditya Chandak and Abhay Chandak.

12:26 pm: Bharti Airtel share trading flat post Q3 earnings

Shares of Bharti Airtel were trading flat today post the telco's Q3 earnings. The stock was trading 0.615 higher at Rs 713.15 in afernoon session.The telco reported a 2.8 per cent fall in its consolidated net profit at Rs 830 crore in the quarter ending 31 December, 2021. The telco had reported a net profit of Rs 854 crore in the year-ago period. The board also approved raising up to Rs 7,500 crore through debt instruments.

12:05 pm: Market check

Equity benchmark Sensex surged over 400 points in the afternoon session on February 9, following gains in IT and financial stocks, amid a firm trend in global markets.

Sensex was trading 440 points or 0.76 per cent higher at 58,248.98. Likewise, the Nifty advanced 136 points or 0.79% to 17,402.80.

11:50 am: Bata India shares erase early gains

Shares of Bata India failed to hold the early gains and were trading flat. 

Bata India on Tuesday reported a nearly three-fold increase in consolidated net profit at Rs 72.32 crore for December quarter 2021-22.

The company had posted a net profit of Rs 26.41 crore in the year-ago period, Bata India said in a BSE filing.

Revenue from operations was up at Rs 841.30 crore during the quarter under review as against Rs 615.62 crore.

11:30 am: JK Paper shares zoom 3%

Shares of JK Paper zoomed 3 per cent in early trade after the company reported its earnings for the quarter ended December 2021.

JK Paper on Tuesday reported a two- fold increase in consolidated net profit at Rs 151.05 crore for the third quarter ended December 2021 helped by growth in volume.

The company had logged a net profit of Rs 64.59 crore in the October-December period a year ago, JK Paper said in a regulatory filing.

Total income was higher at Rs 1,056.41 crore during the period under review as against Rs 770.45 crore in the year-ago period, the company said.

11:00 am: Godrej Consumer shares tank 3% post Q3 results: Should you buy, sell or hold?

Shares of Godrej Consumer Products Limited (GCPL) tanked 3 per cent to hit an intraday low of Rs 848.25 on BSE after the company reported its earnings for the quarter ended December 2021.

The FMCG major reported a 4.93 per cent increase in consolidated net profit at Rs 527.60 crore for the third quarter ended December 2021. The company had posted a net profit of Rs 502.80 crore for the quarter ended December 2020.

10:20 am: Adani Wilmar share zooms 19% a day after tepid market debut 

Adani Wilmar share rose 19% in early trade a day after the Adani Group stock closed at upper  circuit on its market debut. Stock of Adani Wilmar gained 18.72% to Rs 314.85 against the previous close of Rs 265.20 on BSE.

Market cap of the firm rose to Rs 40,614 crore on BSE. Total 26.31 lakh shares changed hands amounting to a turnover of Rs 76.98 crore on the BSE.

On NSE, the stock rose 17.39% to Rs 314.90. Total 4.42 crore shares changed hands amounting to a turnover of Rs 1,301 crore.

The stock has gained 42.46% in two sessions. On Tuesday, it opened 4% lower to the IPO issue price at Rs 221. The issue price of the IPO stood at Rs 230.

 

10:00 am: Technical and Derivatives Report by Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One Ltd

The Indian equity market witnessed some strong whipsaw movement, wherein a V-shaped recovery trimmed down the initial losses in the benchmark index and has put a halt to the selling spree. Though Nifty settled the day on a muted note with mere gains of 0.15 percent at 17239 levels, indecisiveness among the market participants could be sensed with the increased volatility and the index hovering near its crucial support zone.

The formation of a long-legged Doji candlestick pattern could be considered as a constructive setup however, the lack of leadership from the major sectors is a matter of concern for the market participants. As far as levels are concerned, the 17000 mark is the crucial support for the benchmark index followed by the previous swing low of 16836, while any breach below this could trigger a concerning factor for the investors.

On the higher end, the 50 percent Fibonacci is expected to act as the immediate resistance zone placed around 17380 levels, followed by 17500 in the near future.

The last-minute of traction in the benchmark index shows optimism at the strong demand zone. However, the reversal signal is yet to be confirmed with a strong closure above the mentioned resistance zone. At the current juncture, it is advisable to stay cautious and focus on the stock-specific front as the volatility is yet to cool off.

9:16 am: Market opening

The benchmark indices opened higher amid positive global cues. At 09:16 hours, the 30-share BSE index was trading 350 points higher at 58,159.36, and the broader NSE Nifty was up 103 points to 17,370.10.

Bajaj Finserv and Titan were the top gainers, followed by Tech Mahindra, IndusInd Bank, Maruti Suzuki and Kotak Mahindra Bank.

Sun Pharma and Bharti Airtel were the top losers.

9:05 am: Global updates

Big Tech gave major US stock indexes a boost on Tuesday and European shares ended largely unchanged as a sharp fall in oil prices took the shine off bumper profits from oil company BP.

The Dow Jones Industrial Average rose 1.06 percent to end at 35,462.78 points. The S&P 500 gained 0.84 percent to 4,521.52. The Nasdaq Composite climbed 1.28 percent to 14,194.46.

In Asia, the Nikkei Weighted index was up 0.90 per cent and Hang Seng was trading 1.87 per cent higher. Shanghai Composite was up 0.33 per cent.

8:55 am: Pre-market comment by Mohit Nigam, Head - PMS, Hem Securities 

Benchmark Indices are expected to open on a flat to positive note as suggested by trends on SGX Nifty. US stock markets closed in green as Big Tech gave major US stock indexes a boost on Tuesday. NASDAQ was up by 1.21% to 14194.46 levels. European shares ended largely unchanged as a sharp fall in oil prices took the shine off bumper profits from oil company BP. Asian markets are trading on a higher side as investors in the region are expecting a positive outlook on central bank policy. Nikkei gained 0.83%, Topix index up by 0.8%

Oil prices nudged up on Wednesday following two sessions of losses after industry data showed an unexpected drop in US crude and fuel stocks, offsetting concerns of a possible rise in supplies from Iran.

Results today: Power Grid Corporation of India, Tata Power, ACC, Bosch, FSN E-Commerce Ventures (Nykaa), Aurobindo Pharma, Berger Paints, 3i Infotech, Abbott India, Aries Agro, BASF India, Bharat Bijlee, DCB Bank, Engineers India, Entertainment Network (India), Finolex Cables, GMR Infrastructure, HEG, Indiabulls Housing Finance, Jindal Stainless (Hisar), Lumax Auto Technologies, Nuvoco Vistas Corporation, Paras Defence and Space Technologies, Patel Engineering, Petronet LNG, Procter & Gamble Health, Hitachi Energy India, Prestige Estates Projects, Pricol, SAIL etc.

On the technical front 17,045 and 17,350 are immediate support and resistance in Nifty50. For Bank Nifty 37,300 and 38,500 are immediate support and resistance respectively.

8:40 am: Rupee update

The rupee declined 5 paise to close at 74.74 (provisional) against the U.S. dollar on February 8, tracking the strength of the American currency in the overseas market and elevated crude oil prices.

At the interbank foreign exchange, the rupee opened at 74.65 against the American dollar, and later witnessed an intra-day high of 74.57 and a low of 74.80 against the greenback.

The local unit finally ended the day at 74.74, down 5 paise from the previous close.

8:35 am: FII and DII action

Foreign institutional investors (FIIs) sold shares worth Rs 1,967.89 crore on February 7, and domestic institutional investors (DIIs) bought shares worth Rs 1,115 crore, as per provisional data available on NSE.

8:30 am: SGX Nifty

The Indian equity market is likely to open on a positive note as SGX Nifty was up 46 points at 17,325.

Singapore Nifty (SGX Nifty) is the Indian Nifty index that is traded in On Tuesday, Sensex closed 187 points higher at 57,808 and Nifty rose 53 points to 17,266. In the last three sessions, Sensex lost 1,937 points and Nifty plunged 567 points.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

The Indian equity market snapped three day of losing streak in volatile trade on Tuesday.

After a see-saw session, Sensex closed 187 points higher at 57,808 and Nifty rose 53 points to 17,266. In the last three sessions, Sensex lost 1937 points and Nifty fell 567 points.

Tata Steel was the top Sensex gainer, rising 3.10 per cent today, followed by Bajaj Finance, Bajaj Finserv, Reliance Industries, Asian Paints and Titan.

PowerGrid, TCS, Tech Mahindra and HDFC twins were among the top Sensex losers, shedding up to 1.66 per cent. Of 30 Sensex stocks, 19 closed higher.

BSE mid-cap and small-cap indices fell 109 points and 412 points, respectively.