Share Market update: Sensex rises 1,041 points, Nifty ends above 16,650; M&M, Titan top gainers

Sensex rose 1017 points to 55,901 and Nifty gained 297 points to 16,649 in the afternoon session today. On Friday, the Indian market ended higher for the second straight session. Sensex climbed 632 points to 54,884 and Nifty gained 182 points higher at 16,352. NTPC, Bharti Airtel, PowerGrid, Tata Steel, and Reliance Industries were the top Sensex losers, falling up to 2.43 percent. Tech Mahindra, IndusInd Bank, Wipro, Bajaj Finance, Infosys, Bajaj Finserv, Larsen & Toubro, and HCL Technologies were the top Sensex gainers, rising up to 4.10 per cent.

Here's what to expect on Dalal Street today.

Stocks in news: LIC, Nykaa, IRCTC, Adani Enterprises and more

3:33 pm: Sensex, Nifty close nearly 2% higher

Sensex rises 1041 points to 55,925 and Nifty ends 308 points higher at 16,661.

3:07 pm: Sensex zooms 1,200 points, Nifty nears 16,700: Key factors driving the rally

The Indian market started the week on a positive note with Sensex zooming nearly 1,200 points and Nifty adding over 300 points to the Friday close. While Sensex soared 1,198 points intraday to 56,082 , Nifty gained 343 points to an intraday high of 16,695.

Earlier, the market opened higher tracking its Asian peers. Sensex opened 623 points higher at 55,508 and Nifty gained 175 points to 16,527. In the afternoon session, M&M, Titan and Infosys were the top Sensex gainers, rising up to 5.69 per cent. Top losers were Kotak Bank, Sun Pharma and Dr Reddy's, falling up to 2.12 percent. READ MORE

2:47 pm: FIIs offload shares for 8th straight month; registers longest selling streak in at least 22 years

Overseas investors continued to remain net sellers in the domestic equity markets for the eight consecutive months in May, registering the longest such streak at least in the past 22 years. Data available with Ace Equity showed that foreign institutional investors (FIIs) have sold shares worth over Rs 2 lakh crore between October 1, 2021 and May 27, 2022.

Earlier, they stood as net sellers for seven straight months in 2008, when they offloaded shares worth Rs 44,380 crore (net investment) between May 2008 and November 2008. ALSO READ

2:12 pm: Market in the green

Of 30 Sensex stocks, 25 are trading in the green

2:09 pm: Gainers and losers

M&M , Titan and Infosys are the top Sensex gainers, rising up to 5.69 percent. Top losers are Kotak Bank, Sun Pharma and Dr Reddy's, falling up to 2.12 percent.

2:03 pm: Market update

Sensex rises 1017 points to 55,901 and Nifty gains 297 points to 16,649 in the afternoon session.

12:49 pm: Vodafone Idea stock rises 5% over report that Amazon may invest Rs 20,000 cr

Shares of Vodafone Idea gained nearly 5 percent today amid a report that e-commerce giant Amazon was likely to invest up to Rs 20,000 crore into the telecom operator.

Vodafone Idea share touched an intra day high of Rs 9.36, rising 4.81 percent on BSE. The large cap stock has gained 7.33 percent in two days. The share trades higher than 5-day and 20-day moving averages but lower than 50-day, 100-day and 200-day moving averages.

Total 223.91 lakh shares of Vodafone Idea changed hands amounting to a turnover of Rs 20.46 crore on BSE. Market cap of the telco rose to Rs 29,934 crore. READ MORE

12:00 pm: Tata Motors stock gains 3% on MoU to acquire Ford India's Sanand plant

Tata Motors stock rose over 3 per cent today after auto major announced that its subsidiary has inked a Memorandum of Understanding (MoU) with the Gujarat government for the potential acquisition of Ford India's Sanand plant.

The large cap stock rose to an intraday high of Rs 443.9, 3.33 per cent on BSE. The share opened higher at Rs 436.35 against the previous close of Rs 429.60. Tata Motors shares are higher than 5-day, 20-day, 50-day and 200-day moving averages but lower than 100-day moving averages.

11:36 AM: Market extends gains

Sensex rises 1135 points to 56,020 and Nifty gains 326 points to 16,678.

11:32 am: Nykaa stock climbs over 5% post Q4 earnings

Shares of Nykaa (listed as FSN E-Commerce Ventures Limited) rose over 5 per cent in early trade despite the fashion retailer reporting a 49 per cent decline in consolidated net profit for the fourth quarter ended March 31, 2022. The share gained 5.41 percent intraday to Rs 1425 on BSE. Earlier, the stock opened lower at Rs 1337 against the previous close of Rs 1351.80. Market cap of the firm rose to Rs 65,793 crore on BSE. READ MORE

9:56 am: Market extends gains

Sensex rises 889 points to 55,773 and Nifty gains 259 points to 16,611.

9:44 am: IRCTC shares zoom 5% ahead of Q4 earnings

Shares of Indian Railway Catering and Tourism Corporation Ltd (IRCTC) rose nearly 5 per cent in early trade ahead of the state-owned firm's earnings set to be announced today.

The large cap stock touched an intraday high of Rs 683.50, climbing 4.77 percent against the previous close of Rs 652.40 on BSE. The stock hit 52-week high of Rs 1,278.60 on October 19,2021 and a 52- week low of Rs 377.4 on June 1, 2021.

Stock of IRCTC has gained 4.85 percent in two sessions. IRCTC share is trading higher than 5 day moving averages but lower than 20 day, 50 day, 100 day and 200 day moving averages.

9:43 am : Expert quote on market opening

VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "The market is set for a near-term rally. The sharp upswing in Nasdaq & S&P 500 late last week indicates near-term trend reversal. The decline in dollar index and the US 10-year bond yields, too,  are positives for risk particularly in emerging markets. The beaten-down IT segment is likely to stage a good comeback assisted by short-covering. Financials, particularly the leading banks, have more room to go up assisted by delivery based investment buying. However, brent crude at $ 120 is a major macro headwind."

9:16 am: Market opens higher

Sensex zooms 623 points to 55,508 and Nifty gains 175 points to 16,527.

9:12 am: Expert take

Mohit Nigam, Head - PMS, Hem Securities said, "Benchmark indices are expected to open on  positive note as suggested by trends on SGX Nifty. US stock markets ended higher on friday as investors are reacting to growing optimism that the Federal Reserve will be able to tighten the monetary policy without tipping the economy into recession. Dow jones was up by 575 points, whereas NASDAQ was up by 3.33% to 12680.0 levels. Asian markets are trading on  positive side  as investors are following trend of US markets. Nikkei is trading 1.3% higher, South Korea is trading at 0.9% higher. Oil prices settled higher on monday as traders are waiting to see that whether  European Union would reach an agreement on banning Russian oil ahead of a meeting on a sixth package of sanctions against Moscow for its invasion of Ukraine. Brent is currently trading at $120."

8:46 am: Expert take

Amol Athawale, Deputy Vice President - Technical Research, Kotak Securities said, "We are of the view that, the short-term texture of the market has changed to positive from negative. For the trend following traders now, 16,200/54,450 would be the key level to watch out. Above which, it could touch the level of 16500-16650. On the flip side, below 16,200/54,450 uptrends would be vulnerable. Below the same, the index could retest the level of 16,000/53,900. Further downside may also continue which could drag the index up to 15,900-15,850/53,600-53,500."

8:30 am: SGX Nifty

The Indian market is likely to open higher today as SGX Nifty rose 152 points to 16,489. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Friday

The Indian market ended higher for the second straight session. Sensex climbed 632 points to 54,884 and Nifty gained 182 points higher at 16,352. NTPC, Bharti Airtel, PowerGrid, Tata Steel, and Reliance Industries were the top Sensex losers, falling up to 2.43 percent. Tech Mahindra, IndusInd Bank, Wipro, Bajaj Finance, Infosys, Bajaj Finserv, Larsen & Toubro, and HCL Technologies were the top Sensex gainers, rising up to 4.10 per cent.