Stock Market HIGHLIGHTS: Sensex ends 44 pts higher, Nifty50 at 18,036 as market gives up much of day's gains
Stock Market HIGHLIGHTS: Indian equity benchmarks started Thursday's session in the green amid positive moves across global markets. Gains in IT, financial and oil & gas shares pushed the headline indices higher. Globally, positive macroeconomic data from the US allayed some concerns about the prospect of a prolonged period of aggressive hikes in interest rates. Any indication of strength in the world's largest economy is a sigh of relief at this point, as the Fed and other major central banks scramble to tame red-hot inflation without disrupting economic growth amid fears of at least a mild recession.
Equities in other Asian markets saw strong moves, mirroring a positive session overnight on Wall Street, with MSCI's broadest index of Asia Pacific shares outside Japan rising 1.3 per cent at the last count. Japan's Nikkei 225, China's Shanghai Composite and Hong Kong's Hang Seng were up around 1-2 per cent.
S&P 500 and Dow Jones futures were up 0.2 per cent and 0.1 per cent respectively in Asian trade. On Wednesday, the three main Wall Street indices rose after stronger-than-expected retail sales data offered evidence of resilience in the US economy. The S&P 500 rose 0.3 per cent, the Dow Jones 0.1 per cent and the tech stocks-heavy Nasdaq Composite 0.9 per cent.
Catch all the market action, LIVE commentary and analysis only on Zeebiz.com's blog here, besides the views of Zee Business Managing Editor Anil Singhvi and other experts, financial results, investment ideas and stock picks:
Stock Market HIGHLIGHTS: Indian equity benchmarks started Thursday's session in the green amid positive moves across global markets. Gains in IT, financial and oil & gas shares pushed the headline indices higher. Globally, positive macroeconomic data from the US allayed some concerns about the prospect of a prolonged period of aggressive hikes in interest rates. Any indication of strength in the world's largest economy is a sigh of relief at this point, as the Fed and other major central banks scramble to tame red-hot inflation without disrupting economic growth amid fears of at least a mild recession.
Equities in other Asian markets saw strong moves, mirroring a positive session overnight on Wall Street, with MSCI's broadest index of Asia Pacific shares outside Japan rising 1.3 per cent at the last count. Japan's Nikkei 225, China's Shanghai Composite and Hong Kong's Hang Seng were up around 1-2 per cent.
S&P 500 and Dow Jones futures were up 0.2 per cent and 0.1 per cent respectively in Asian trade. On Wednesday, the three main Wall Street indices rose after stronger-than-expected retail sales data offered evidence of resilience in the US economy. The S&P 500 rose 0.3 per cent, the Dow Jones 0.1 per cent and the tech stocks-heavy Nasdaq Composite 0.9 per cent.
Catch all the market action, LIVE commentary and analysis only on Zeebiz.com's blog here, besides the views of Zee Business Managing Editor Anil Singhvi and other experts, financial results, investment ideas and stock picks:
Latest Updates
Stock Market Update | Sensex ends up 44 pts at 61,320, Nifty50 at 18,036
Both headline indices are left with a gain of 0.1 per cent at the closing bell. The 30-scrip index ends up 44.4 pts at 61,319.5 and the Nifty50 settles at 18,035.9, up 20 pts from its previous close.
Here's how both the gauges moved through the day:
Sensex
Nifty50
Stock Market Tips LIVE | Vikas Sethi shares two stock picks: Taj GVK, Nelco
Vikas Sethi of Sethi Finmart has two recommendations today:
- Buy Taj GVK for a target of Rs 195 with a stop loss at Rs 180
- Buy Nelco for a target of Rs 640 with a stop loss at Rs 605
Stock Market Tips LIVE | Sumeet Bagadia recommends buying BEL shares, target Rs 102/105
Sumeet Bagadia of Choice Broking has a stock pick for Zee Business viewers: Bharat Electronics Ltd (BEL). He suggests buying BEL shares for a target of Rs 102/105 with a stop loss at Rs 94.
BEL shares have rewarded investors with a return of about 47 per cent in the past one year, sharply outperforming the Nifty50 index's rise of more than four per cent.
Stock Market Tips LIVE | Buying 18,050 Nifty50 call option for targets of Rs 162, Rs 206, says Jay Thakkar
Jay Thakkar of Sharekhan suggests buying the 18,050 Nifty50 call option at Rs 106 for targets of Rs 162 and Rs 206 with a stop loss at Rs 59.
Stock Market Tips LIVE | Swati Hotkar recommends buying HAL, Tata Communications shares
Swati Hotkar of Nirmal Bang Securities shares two stock picks:
- Buy Hindustan Aernautics for a target of Rs 2,660 with a stop loss at Rs 2,520
- Buy Tata Communications for a target of Rs 1,300 with a stop loss at Rs 1,240
Stock Market Tips | Indian Oil, Hindalco among Sanjiv Bhasin's top picks today
Sanjiv Bhasin of IIFL Securities shares three stock picks with Zee Business viewers:
- Buy IOC futures for a target of Rs 88 with a stop loss at Rs 77
- Buy L&T futures for a target of Rs 2,300 with a stop loss at Rs 2,135
- Buy Hindalco futures for a target of Rs 455 with a stop loss at Rs 422
Stock Market Tips LIVE | Arpit Beriwal suggests buying Nifty50 futures for targets up to 18,250
Arpit Beriwal of Motilal Oswal Financial Services shares two index trading calls with Zee Business viewers:
- Buy Nifty50 futures for targets of 18,181 and 18,250 with a stop loss at 17,920
- Buy Nifty Bank for targets of 42,000 and 42,222 with a stop loss at 41,400
The Nifty50 benchmark has broadly moved within the 18,050-18,150 band today so far.
Stock Market Tips LIVE | Buy KPIT Tech, Linder India shares, says Arpit Beriwal
Arpit Beriwal of Motilal Oswal Financial Services suggests buying KPIT Tech shares for a target of Rs 920 with a stop loss at Rs 830. He also recommends going long on Linde India for a target of Rs 3,950 with a stop loss at Rs 3,650.
Nestle Q4 Results | Net profit jumps 66% to Rs 628 crore, beats Street estimates; shares jump after company announces Rs 75 dividend
Nestle India reports a net profit of Rs 628 crore for the quarter ended December 2022, as against a net profit of Rs 379 crore for the corresponding period a year ago. Its revenue increases 13.6 per cent on a year-on-year basis to Rs 4,257 crore for the three-month period, according to a regulatory filing.
The company's board declares a dividend of Rs 75 per share.
Nestle India's margin, a key measure of profitability, remains unchanged at 22.9 per cent.
According to Zee Business research, the consumer products company's net profit was estimated at Rs 617 crore and revenue at Rs 4,341 crore.
Nestle India follows a January-December financial year.
Stock Market LIVE Update | Tanla Platforms shares skyrocket after company launches anti-phishing tech platform Wisely ATP
Tanla shares hold on close to their strongest level of the day so far after surging by as much as Rs 60.4 or 10 per cent to Rs 664.5 apiece with huge volumes.
As of noon, as many as 78,000 Tanla shares have changed hands today so far as against a daily average of 27,000 in the past two weeks, according to BSE data.
Tanla Platforms, Tejas Networks, PI Industries rise most among 345 gainers in BSE 500 universe
Here's a look at some of the top gainers and losers in the broadest index on the bourse:
Stock Market Tips LIVE | Astha Jain recommends buying Siemens shares for targets of Rs 33,40, Rs 3,400
Astha Jain of Hem Securities has a 'buy' call for Zee Business viewers. She suggest buying the Siemens stock at Rs 3,200 for targets of Rs 3,340 and Rs 3,400 with a stop loss at Rs 3,070.
Stock Market LIVE Update | Reliance, TCS, Infosys, Tech Mahindra top boosts for Sensex
Heavyweights such as the HDFC twins are also among the biggest contributors to the gain in the 30-scrip index.
IndiGo shares fall as co-founder Rakesh Gangwal's wife offloads nearly 4% stake
Interglobe Aviation shares fall by as much as Rs 101.2 or 5.1 per cent to Rs 1885 apiece on BSE.
According to a report by news agency Reuters, Shobha Gangwal, the wife of IndiGo co-founder Rakesh Gangwal, offloaded around four per cent in InterGlobe Aviation for around Rs 2,930 crore through a block deal. The offer floor price for the sale was set at Rs 1,875 per share — a discount of 5.6 per cent from the stock's closing price on Wednesday, according to the report.
Stock Market LIVE Update | Sensex jumps over 400 pts, Nifty50 tests 18,135 led by IT, financial, oil & gas shares
Both headline indices rise as much as 0.7 per cent in the first hour of trade. The 30-scrip index gains 407.2 points to touch 61,682.3 at the strongest level of the day so far.
The Nifty50 climbs to as high as 18,134.8, up 118.9 points from its previous close.
Here's how the headline indices' charts are building up so far:
Sensex
Nifty
