Bloomberg | Quint is a multiplatform, Indian business and financial news company. We combine Bloomberg’s global leadership in business and financial news and data, with Quintillion Media’s deep expertise in the Indian market and digital news delivery, to provide high quality business news, insights and trends for India’s sophisticated audiences.
Closing Bell: Sensex, Nifty Clock Best Single Day Gains In Over Two Months
Indian equity benchmarks clocked their best single-day gains in over two months to resume the record-breaking run.
The S&P BSE Sensex rose 1.16 percent or 442 points to 38,694 and the NSE Nifty 50 index climbed 1.17 percent or 135 points to 11,692.
The benchmarks rose in line with the global peers after the U.S. Federal Reserve reaffirmed a gradual pace of policy tightening, bolstering investor confidence. Fed chairman Jerome Powell signaled that there’s little need to tighten policy aggressively
All 19 sector gauges compiled by BSE ended higher led by the S&P BSE Utilities index’s 2.4 percent gain.
The gains were broad-based as the S&P BSE MidCap index rose 1.07 percent and the S&P BSE SmallCap index gained 0.7 percent.
Market Check: Nifty Rises Above 11,700 For First Time
Nifty surged nearly 150 points to trade above 11,700.95 for first time.
Closing Strategies: Hindalco, Piramal Enterprises
Summet Bagadia, associate director at Choice Broking recommends trading strategies for Hindalco and Piramal Enterprises.
Buy Hindalco for target price of Rs 240 with stop loss at Rs 223
Buy Piramal Enterprises target price of Rs 3,150-3,200 with stop loss at Rs 2,980-2,990.
Escorts To Fund Investment In Tadano JV Via Internal Accruals: Bharat Madan
Target of Tadano joint venture (JV) is to get up the value chain in cranes business, Bharat Madan, group financial controller at Escorts told BloombergQuint in an interview.
Key highlights of the conversation:
Looking to launch two new products via the JV with Tadano.
Expect good growth in cranes segment as we start with smaller cranes sales.
Looking to explore export markets for the cranes business.
To fund investment in Tadano JV via internal accruals.
JSW Steel Surges 2.8%, Rises to A Record High
Shares of the Sajjan Jindal-led steel maker rose as much as 2.8 percent to a record high of Rs 364.80.
RITES Falls After June Quarter Earnings
NESCO, MOIL Among Stocks Moving On Heavy Volumes
Future Retail Surges On Report Google, Paytm May Pick Stake
Market Check: Sensex Soars 400 Points; Banks, Metals Lead
Punj Lloyd Rebounds After ICICI Bank Settles Insolvency Case
Rupee Back At 70/$, Erases Morning Gains
Sun Pharma Falls On Surprise Inspection By U.S. FDA: BloombergQuint Exclusive
F&O Check: Nifty 11,700 Call Option Surges Over 190%
Largely Provided For Stressed Accounts In Power Sector: SBI
JB Chemicals Rises After U.S. FDA Completes Inspection Of Panoli Plant
LIC Housing Finance Falls On Reporting Weak Q1 Earnings
Reliance Naval And Engineering Falls After Anil Ambani Resigns
SAIL Rises On Plans To Exit Non-Operational Joint Ventures
Manpasand Beverages Rises On Setting Up Plant In Varanasi
Do Not See Any Sector Offering Value From Long Term Point Of View: Kotak AMC
Opening Bell: Sensex, Nifty Open At Record Highs
Rupee Opens Higher Against Dollar
No Signs Of Reversal Visible For Nifty: Ruchit Jain
Money Market Heads Up: Rupee Seen Rising Against U.S. Dollar
Brokerage Radar: JPMorgan, Edelweiss Maintain Stance On LIC HF; Equirus Says 'Add' Dr Lal PathLabs
BQ Heads Up! Who's Meeting Whom And Insider Trades To Watch
F&O Cues: Nifty’s Open Interest Declines 2.4% In August Series