Share Market Update: Sensex, Nifty close higher; Kotak Bank, L&T with best earnings

Share the market today: The Indian market closed higher today. Sensex rose 37.87 points to 60,298 and Nifty gained 12 points to 17,956. The Sensex closed above the 60K mark after four months on Wednesday amid positive global cues. Sensex rose 418 pts to 60,260 and Nifty gained 119 pts to 17,944. The 30-share index last touched the 60K level on April 5, 2022. The index closed at 60,176 in that session. Out of 30 Sensex stocks, 23 ended in the green. Twins Bajaj, Bharti Airtel and Tech Mahindra were the top gainers in the Sensex, rising as much as 5.74 percent.

Here’s a look at live market updates today.

15:36: Closing update

Sensex rises 37.87 points to 60,298 and Nifty gains 12 points to 17,956.

02:33 PM: ICICI Bank shares hit record high, check new price target

ICICI Bank shares hit an all-time high amid highly volatile trade today. Shares of ICICI Bank hit an all-time high of Rs 886 against the previous close of Rs 883.20 on the BSE. The bank share is up 27.43 percent in a year and is up 18.5 percent since the beginning of this year. In one month, the share has risen by 13.63 percent.

However, the stock opened lower at Rs 880.20 today. A total of 15.22 crore shares of the bank changed hands, for a turnover of Rs 133.89 crore on the BSE. The market capitalization of the bank stood at Rs 6.10 crore.

1.54pm: Sona BLW Precision shares fall 6% after Blackstone sells stake

Shares in Sona BLW Precision Forgings fell more than 6% today after private equity firm Blackstone sold a 16% stake in the global automotive technology company. According to reports, Blackstone through its subsidiary – Singapore VII Topco III PTE sold part of its stake in Sona BLW Precision Forgings Ltd through a block deal today. Blackstone is estimated to have raised Rs 4 billion through the transaction. Shares of Sona BLW Precision Forgings opened lower at Rs 524 today.

12:17 pm: Maruti Suzuki all new Alto K10 will be launched shortly

In a few hours, Maruti Suzuki will launch one of its flagship entry-level hatchbacks, the Alto K10. The Alto K10 is expected to be an all-new car with both exterior and interior changes. The car is likely to compete with Renault Kwid. The new Alto K10 is likely to be offered in six colors. The new Alto K10 is likely to get a seven-inch infotainment touchscreen with steering wheel-mounted controls that will be compatible with both Android Auto and Apple CarPlay.

The new generation Maruti Suzuki Alto K10 engine will be an updated 1.0 liter engine from the K series.

12:08: Last update

Sensex fell 275 pts to 59,984 and Nifty lost 76 pts to 17,867 in the afternoon trading session today.

10:08 AM: US market update

Wall Street Update: US stocks lower after Fed minutes; Nasdaq falls more than 1%

U.S. stocks closed lower on Wednesday, with indexes volatile after investors thought minutes from the Federal Reserve’s July meeting suggested policymakers may be less aggressive than previously thought when raising interest rates. interest in September.

The major indexes pared their losses sharply after the minutes were released, and the Dow briefly turned positive before reverting to earlier losses.

The proceedings also showed that Fed officials saw “little evidence” late last month that US inflationary pressures were easing and that participants said inflation may take longer than expected to dissipate- yes

10:05: Market update

Sensex rises 19 pts to 60,279 and Nifty gains 6 pts to 17,950.

9:19 am: Market update

Sensex falls 195 pts to 60,064 and Nifty shed 45 pts to 17,898 in early trade.

9:12 a.m.: expert take

VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services

“The Fed minutes suggest continuation of the hawkish stance and this may slightly affect sentiments in the parent market, the US. But this is unlikely to affect bullish sentiments in India as the return of FIIs has completely altered the mood of the market and the bulls are Dips are likely to be bought in the short term.

From a fundamental perspective, there are no triggers to take the market much higher from current levels as there is no valuation comfort. Nifty is now trading at around 21 times FY23 earnings. The market seems to be betting on continuation of good GDP and profit growth this year and next. If the growth momentum is sustained, capital goods and autos will attract more purchases.”

8:45 a.m.: expert take

Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities ‚ÄúTechnically, the market is consistently forming a higher and lower series formation, which indicates a continuation of an uptrend in the near future. Nifty has also formed a bullish candle on the daily charts.This also supports the bullish trend, but a quick intraday correction is not ruled out if the index trades below 17,850, below which it could touch levels between 17,700-17,680 . On the other hand, above 17,850 the first bullish target of the index would be 18,000 and, in a further increase, it could go up to 18,175″.

Bulls vs Bears: Here’s what to expect at Dalal Street today

8:20 am: SGX Nifty

The Indian market is likely to open lower today as the SGX Nifty fell 33 points to 17,935. The Singapore Stock Exchange is considered the first indication of the opening of the Indian market.

8:15 a.m.: Market Wednesday

Sensex closed above 60K mark after four months amid positive global cues. Sensex rose 418 pts to 60,260 and Nifty gained 119 pts to 17,944. The 30-share index last touched the 60K level on April 5, 2022. The index closed at 60,176 in that session. Out of 30 Sensex stocks, 23 ended in the green. Twins Bajaj, Bharti Airtel and Tech Mahindra were the top gainers in the Sensex, rising as much as 5.74 percent. M&M, Ultratech Cement, Maruti and Tata Steel were the top Sensex losers, falling as much as 1.07%. The BSE mid-cap and small-cap indexes gained 161 points and 148 points, respectively.



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About the Author: Chaz Cutler

My name is Chasity. I love to follow the stock market and financial news!