Stock Market LIVE Updates: Sensex rises 300 points, reclaims 60,000; Nifty above 17,900; Nazara jumps 5%

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Buzzing: Multiplex stocks – Inox Leisure & PVR – gain 5% each

Price as on 12 Sep, 2022 09:36 AM, Click on company names for their live prices.

The most important bullish factor that has caused and is sustaining India’s market outperformance is the strong growth recovery underway in India now. RBI’s report which puts bank credit growth now running at 15.5% is an endorsement of this fact. Bank Nifty which has outperformed Nifty by 11% is a reflection of this strong undercurrent in the banking segment. Even though valuations are high it appears that this rally has more steam to go up. While financials will continue to be resilient some sector rotation can be expected at this juncture. The beaten down IT segment may participate in a pull back rally.

– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Top gainers & losers from the Nifty pack

OPENING BELL: Sensex rises 300 points, reclaims 60K; Nifty above 17,900; Nazara jumps 5%


  • Expected policy-related developments as positive for Indian gas sector
  • Local developments have the potential to reverse 3-5 years of under performance
  • Maintain IGL as preferred CGD and overall gas pick
  • Target for IGL at Rs 490/sharel
  • Positive catalyst watch on MGL, Gujarat Gas, and GSPL
  • Target for MGL at Rs 1040/sh, Gujarat Gas at Rs 580/sh
  • Source: ET NOW

BROKERAGE RADAR | UBS on Maruti (Source: ET NOW)

  • Maintain BUY
  • TARGET PRICE RS 10,500
  • Toyota Hyryder pricing offers great value for money
  • Demand remains the strongest in the mid-size SUV segment
  • Expect Maruti to unveil the pricing of Grand Vitara within the next couple of weeks

Asia stocks edge up, dollar restrained before CPI

Asian share markets made cautious gains on Monday on hopes a key reading on U.S. inflation will show some cooling, while the U.S. dollar was restrained by the risk of higher European interest rates and Japanese intervention.

SGX Nifty signals a muted start

Nifty futures on the Singapore Exchange traded 2.5 points, or 0.01 per cent, higher at 17,844.50, signaling that Dalal Street was headed for a muted start on Monday.

Tech View: Nifty forms bullish candle for 2nd week, but analysts see weakness ahead

Nifty50 on Friday ended the week above 17,800 for the first time since January. However, the 50-pack index failed to hold on to opening gains and settled the session forming a bearish candle on the daily scale.

Oil prices slide as possible rate hikes weigh on demand outlook

Oil prices slipped during Asian trade on Monday as the prospect of further interest rate hikes in the United States and Europe to quell inflation and the imposition of strict COVID-19 restrictions in China overshadowed the global demand outlook.

Tokyo stocks open higher extending US gains

Tokyo stocks opened higher on Monday, tracking rallies on Wall Street as investors came to terms with the prospect of more central bank interest rate hikes. The benchmark Nikkei 225 index was up 0.96 percent, or 269.59 points, at 28,484.34 in early trade, while the broader Topix index was up 0.75 percent, or 14.83 points, at 1,980.36.

Wall Street scores first weekly gain since mid-August

U.S. stocks rallied on Friday, with the major indexes recording their first weekly gain in four weeks as investors went on a buying spree, shrugging off concerns about the economic outlook.

Rupee rises 12 paise to close at 79.57 against US dollar

The rupee appreciated by 12 paise to close at 79.57 against the US dollar on Friday, tracking positive domestic equities and foreign fund inflows.

Sensex, Nifty on Friday

The 30-pack Sensex advanced 104 points to end the day at 59,793. Its broader peer, Nifty50, ended at 17,833, up 35 points. This was the first time since January 2022 that the NSE barometer closed the week above 17,800 level. For the week, Nifty added 1.68 per cent while Sensex 1.66 per cent.

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