Stock Market Highlights: Indices snap 3-day losing streak; Sensex gains around 500 points, Nifty above 17100
Stock Market, Sensex, Nifty50 Highlights: Benchmark indices Sensex and Nifty rebounded nearly 1 per cent on Wednesday, snapping their three-day losing run following gains in banking, power and IT shares amid positive trends in European markets. The 30-share BSE barometer climbed 478.59 points or 0.84 per cent to settle at 57,625.91. During the day, it jumped 540.32 points or 0.94 per cent to 57,687.64.
The broader NSE Nifty reclaimed the 17,100 level by jumping 140.05 points or 0.82 per cent to close at 17,123.60. In the 30-share Sensex pack, Power Grid, Axis Bank, NTPC, IndusInd Bank, Larsen & Toubro and UltraTech Cement were among the biggest gainers.
On the other hand, Asian Paints, Dr Reddy's, Bharti Airtel, Titan and ICICI Bank ended lower. Elsewhere in Asia, markets in Seoul and Shanghai ended higher, while Tokyo and Hong Kong settled lower.
Stock exchanges in Europe were trading in the positive territory in mid-session deals. The US markets ended on a mixed note on Tuesday. Meanwhile, the international oil benchmark Brent crude futures advanced 0.39 per cent to USD 94.64 per barrel. Foreign institutional investors offloaded shares worth a net of Rs 4,612.67 crore on Tuesday, according to data available with BSE.
Stock Market, Sensex, Nifty50 Highlights: Benchmark indices Sensex and Nifty rebounded nearly 1 per cent on Wednesday, snapping their three-day losing run following gains in banking, power and IT shares amid positive trends in European markets. The 30-share BSE barometer climbed 478.59 points or 0.84 per cent to settle at 57,625.91. During the day, it jumped 540.32 points or 0.94 per cent to 57,687.64.
The broader NSE Nifty reclaimed the 17,100 level by jumping 140.05 points or 0.82 per cent to close at 17,123.60. In the 30-share Sensex pack, Power Grid, Axis Bank, NTPC, IndusInd Bank, Larsen & Toubro and UltraTech Cement were among the biggest gainers.
On the other hand, Asian Paints, Dr Reddy's, Bharti Airtel, Titan and ICICI Bank ended lower. Elsewhere in Asia, markets in Seoul and Shanghai ended higher, while Tokyo and Hong Kong settled lower.
Stock exchanges in Europe were trading in the positive territory in mid-session deals. The US markets ended on a mixed note on Tuesday. Meanwhile, the international oil benchmark Brent crude futures advanced 0.39 per cent to USD 94.64 per barrel. Foreign institutional investors offloaded shares worth a net of Rs 4,612.67 crore on Tuesday, according to data available with BSE.
Latest Updates
PPower Grid Corporation, Axis Bank and NTPC among top gainers
Sensex jumps around 500 points, Nifty50 ends above 17100
Indices snapped a 3-day losing streak on Wednesday as Sensex gained around 500 points at the end of the trading session. Also, Nifty ended above 17100.
Gold price decline by Rs 20
Gold prices in the national capital fell by Rs 20 to Rs 51,155 per 10 grams today, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 51,175 per 10 grams. Silver also declined by Rs 473 to Rs 58,169 per kg from Rs 58,642 per kg.
Tracxn Technologies IPO fully subscribed
The Initial Public Offering (IPO) of Tracxn Technologies was fully subscribed on the final day i.e. on Wednesday. The market intelligence platform said it has raised a little more than Rs 139 crore from anchor investors. Also, the issue was subscribed 1.6 times as of 2:30 pm today.
JBM Auto, IDFC among top gainers
Top Gainers
JBM Auto +9.35%
Triveni Turbine +4.74%
IDFC +4.54%
Transport Corp of India +3.46%
Mazagoan Dock +3.4%
Top Losers
Thermax -5.5%
Elgi Equipments -5%
Great Eastern Shipping -4.8%
Rites -4.7%
Aster DM Healthcare -4.35%
These are top gainers and losers ahead of Q2 results of HCL Tech, Wipro and other
Top Nifty Gainers
Bharat Petroleum +2.82%
Power Grid Corp of India +2.76%
Coal India +2.53%
Bajaj Auto +2.5%
HCL Tech +1.89%
Top Nifty Losers
Adani Enterprises -2.96%
Asian Paints -1.6%
Dr Reddy's Laboratories -1.25%
Bharti Airtel -1.03%
ICICI Bank -0.90%
Gold, Silver Prices fall on MCX - SELL call, check price target
Gold, Silver Prices Today: Gold price extended fall on Wednesday amid the strengthening of the American dollar and mixed trend in international rates as traders await the US Federal Reserve minutes and inflation data. READ MORE
Rupee falls 14 paise to 82.35 against US dollar in early trade
The rupee depreciated 14 paise to 82.35 against the US dollar in the morning trade on Wednesday amid the strengthening of the American currency and sustained foreign fund outflows.
HCL Tech up by around 2 per cent
Ahead of Q2 earnings, shares of HCL Technologies Limited gained over Rs 17 or 1.88 per cent to trade at Rs 956.25
RBI has decided to not let the rupee depreciate further
The local unit has traded in a narrow 6 paisa range so far, as it did on Tuesday when the RBI likely sold dollars at around the 82.38-82.40 levels and received in forwards.
CLSA on ITC; Maintain Outperform, Target raised to 355 from 330
ITC share price gained marginally by nearly half a per cent in early trade on Wednesday, rising to Rs 327.50 on BSE. The uptrend in ITC stock price came as global brokerage CLSA raised the target price on FMCG–cigarettes–hotels major by Rs 25 per share or 7.5 per cent.
BANK NIFTY CALL OPTION 39000 BUY
HCL, Power Grid, Axis Bank among top gainers
Indices open in green; Sensex up around 100 points, Nifty gains 33 points
Morgan Stanley on Sobha Developers (CMP: Rs 626)
Maintain Overweight, Target - Rs 1024
Key themes include- Pick up in new launches & sustaining current high pace of new sales.
Cash from operations will be used for new project acquisitions as well as de-leveraging.