Sensex zooms 910 pts as financials defy Adani rout; Nifty ends above 17,850

Closing Bell: On the Nifty, Adani Ports closed in green after two days with a firm gain of 6 per cent., while Adani Enterprises erased over 50 per cent of its day's losses to close 2 per cent down

Image SI Reporter New Delhi
Stock market rally, bull trading, Sensex, nifty

CLOSING BELL: Bulls roared on Dalal Street Friday as benchmark indices ended with strong gains led by financial stocks. The BSE Sensex zoomed 910 points to end at 60,842, while the Nifty50 index climbed to 17,854 level with a gain of 254 points as select Adani group stocks saw an impressive pullback from days of relentless selling. 

On the Nifty, Adani Ports closed in green after two days with a firm gain of 6 per cent., while Adani Enterprises erased over 50 per cent of its day's losses to close 2 per cent down. Titan, Bajaj twins, HDFC twins, SBI, IndusInd Bank, Eicher Motors, M&M, Airtel and SBI Life were the other frontline winners, which ended 3-7 per cent higher. 

IT majors Tech M, Wipro, HCL Tech were the only losers on the Sensex, while Divi's Lab, BPCL, Tata Consumer, HDFC Life and Hindalco ended in red on Nifty. 

The frontline gains did not seep into the broader markets with the BSE Midcap and Smallcap indices ending up to 0.5 per cent lower. 

Within sectors, the PSB index on the NSE soared 3 per cent led by the strong Q3 result of Bank of Baroda. Nifty Bank also gained 2 per cent, while pharma, oil & gas and realty indices closed up to 1 per cent lower. 
4:05 PM

TECHNICAL VIEW: Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas

The Nifty, in the week gone by, had breached its 40 WEMA on an intraweek basis; however received support near the lower end of the downward sloping channel & the 200 DMA & recovered thereon. The recovery picked up momentum on February 03 as the index surpassed the hurdle zone of 17650-17700. Consequently, the Nifty is approaching to climb above the 20 DMA & can test the level of 18000 on the higher side. On the other hand, the near term support is placed at 17700 with the major support near 17350.

4:02 PM

MARKET COMMENT: Vinod Nair, Head of Research at Geojit Financial Services

Markets are rising, assuming that we are in the last phase of the rate hike cycle as indicated by the Fed statement. Adani Group stocks revived post the confident statement by Total Energies, a large French energy company, raising the sentiment of the market. Pharma stocks have taken a beating as a result of weak third-quarter results.
3:57 PM

Over 1,300 stocks advanced, while 2,196 declined

3:54 PM

Divi's Lab, Adani Enterprises, BPCL top Nifty50 laggards

3:48 PM

Titan, Adani Ports, Bajaj Finserv top Nifty50 gainers

3:44 PM

Broader markets subdued; India VIX slips over 8%

3:42 PM

Pharma stocks weak in an upbeat market; Divi's Lab, Gland Pharma slip up to 12%

3:36 PM

Nifty PSU Bank best sectoral performer, gains over 3%

3:32 PM

SENSEX HEATMAP: Only 3 out of 30 index constituents close in red

3:31 PM

CLOSING BELL: Nifty50 closes above 17,800, up 200pts

3:30 PM

CLOSING BELL: Bulls recharge Sensex, ends over 800 points higher

3:20 PM

Zydus Lifesciences net profit rises 24.48% to Rs 622.9 cr in Dec quarter

Zydus Lifesciences Ltd on Friday reported a 24.48 per cent rise in consolidated net profit at Rs 622.9 crore for the third quarter ended December 31, 2022. READ MORE

3:12 PM

Exposure to Adani Group is limited, not re-evaluating stakes: TotalEnergies

French oil major TotalEnergies SE said on Friday its exposure to ventures with India's Adani Group is limited and is not re-evaluating its stakes in Adani Total Gas and Adani Green Energy. READ MORE
adani group

3:01 PM

Global Check:: US, UK stock futures in red, down up to 1.7%


2:54 PM

Portion of Adani Group's capital expenditure is deferrable: Moody's

Moody's also said the adverse developments relating to the Adani Group - rapid decline in market value of the group company's shares- will impact the group's ability to raise capital. READ MORE

For more tax revenue

2:45 PM

Divi's Lab sinks 13%, hits 29-month low as Q3 profit falls more than expected

Shares of Divis Laboratories tanked 13 per cent to hit a 29-month low of Rs 2,830 on the BSE in Friday’s intra-day trade as the company posted weak results for the December quarter (Q3FY23) disappointing investors. READ MORE

stocks, shares, market, sensex, nifty, BSE, INVESTORS, BROKERS
2:36 PM

Market Check:: Sensex at day's high, up 800 points


2:32 PM

ALERT :: Adani Enterprises turns positive, off more than 50% from lows

2:29 PM

ALERT :: Total Energy says Adani exposure is 2.4% of capital employed, reports Bloomberg

>> French energy firm has gas, renewables partnerships with Adani

>> TotalEnergies has employed $3.1 billion of capital in Adani as of December 2022.
2:24 PM

Budget 2023: 20% TCS may take sheen off investments in foreign stocks

A post-pandemic pickup in direct investment in international stocks is set to take a hit after the Budget introduced a 20 per cent tax collection at source (TCS) for money sent out of India using the Liberalised Remittances Scheme (LRS). READ MORE

Participatory notes

First Published: Feb 03 2023 | 08:16 AM IST

Explore News