Sensex ends 617 pts up, Nifty near 16K; Bajaj twins gain 5%, HUL 4%
Despite a 0.8 per cent fall in heavyweight Reliance, Bajaj twins, HUL, Asian Paints, Maruti, Titan, Kotak Bank and Nestle led the upmove on the Sensex, moving up to 4.8 per cent higher.
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CLOSING BELL
Stock market highlights: Aided by a dramatic fall in oil prices and strength in global peers, the domestic markets closed near the day's high on Wednesday, rising over 1 per cent.
Stock market highlights: Aided by a dramatic fall in oil prices and strength in global peers, the domestic markets closed near the day's high on Wednesday, rising over 1 per cent.
The BSE Sensex rallied 617 points to close at 53,751. The index gained 608 points from the day's low of 53,143. The NSE counterpart Nifty50 gained 179 points to close at 15,990. The index had touched an intra-day low of 15,801.
"The Nifty bulls came back strong from the lower levels and took the on a high note. The index surpassed the level of 16,000 and closed above it, which indicates a continuation on the upside towards 16,200 levels. The lower-end support stands at the 15,800 level. As long as this support is held, the index remains in a buy zone," said Kunal Shah, senior technical & derivative analyst at LKP Securities.
"The Nifty bulls came back strong from the lower levels and took the on a high note. The index surpassed the level of 16,000 and closed above it, which indicates a continuation on the upside towards 16,200 levels. The lower-end support stands at the 15,800 level. As long as this support is held, the index remains in a buy zone," said Kunal Shah, senior technical & derivative analyst at LKP Securities.
Despite a 0.8 per cent fall in heavyweight Reliance, Bajaj twins, HUL, Asian Paints, Maruti, Titan, Kotak Bank and Nestle led the upmove on the Sensex, moving up to 4.8 per cent higher.
Bajaj Finance emerged as the top index winner on posting healthy Q1FY23 update. The NBFC said that it logged the highest ever quarterly increase in its customer franchise of 2.7 mn during the quarter, and its new loans were 7.4 mn as compared to 4.6 mn in the year ago period.
On the downside, apart from RIL, Tata Steel, NTPC, PowerGrid and L&T were the other handful of drags on the Sensex, declining upto 1 per cent.
From sectors, the Nifty metals index closed flat amid a continuous slide in metal prices. Oil & gas pocket was the sole loser, ending 0.17 per cent down. On the other hand, Nifty Auto, FMCG, Realty and Consumer Durables led the most gains, gaining 2-2.6 per cent each.
Global markets
US equity futures came off the day's lows as investors awaited US Fed's latest meeting minutes due for release later tonight. Futures linked to Dow Jones, S&P500 and Nasdaq were down up to 0.22 per cent.
European markets edeged higher after a day of steep losses. The pan-European Stoxx 600 jumped 1.3% led by gains in travel and leisure stocks.
BS Q&A
Retail investors in India are by default optimistic. They are strong believers in the long-term story of India, and rightly so, says Sandeep Bhardwaj of IIFL Securities. Read here
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First Published: Jul 06 2022 | 1:17 PM IST
