Share Market update: Sensex rises 418 pts, Nifty above 17,900; Bajaj twins top gainers

Share Market Today: The Indian market ended higher today. Sensex climbed 418 pts to 60,260 and Nifty gained 119 pts to 17,944. The stock market ended in the green on Tuesday amid mixed global cues. Sensex rose 379 points to 59,842 and Nifty closed 127 points higher at 17,825. Of 30 Sensex stocks, 25 ended in the green.

Mid-cap and small-cap indices on BSE gained 256 points and 258 points, respectively.

Auto, oil and gas, consumer durables and banking stocks were the top sectoral gainers with their BSE indices zooming 761 points, 348 points, 299 points and 205 points respectively

Here's a look at live market updates today.

Stocks in news: HDFC AMC, Ansal Housing, Bajaj Hindusthan, Cipla and more

3:41 pm: Closing update

Sensex climbs 418 pts to 60,260 and Nifty gains 119 pts to 17,944.

3:17 pm: 5G auctions: Bharti Airtel pays Rs 8,312 cr to DoT as spectrum payment

Telecom behemoth Bharti Airtel today said that it has paid Rs 8,312.4 crore to the Department of Telecommunications (DoT) as part of the spectrum payment for the 5G auctions. It is to be noted that Airtel purchased spectrum worth Rs 43,084 crore in several frequency bands during the auctions.  

Since last year, Airtel has paid Rs 24,333.7 crore, which is part of its deferred spectrum liabilities, much ahead of scheduled maturities, the company said in a statement.  

According to reports, Reliance Jio has also paid its first installment of Rs 7,864 crore, while Vodafone is in the process of paying its first part of Rs 1,679 crore. Besides, Adani Data Networks has also paid Rs 18.94 crore for the 5G auctions.  

In a statement, Bharti Airtel said that it has paid an additional amount as an upfront payment to the DoT for the next four years. 

3:13 pm: Sensex reclaims 60K mark after four months, what lies ahead?

Sensex reclaimed the 60,000 mark today led by gains in consumer durables, IT and banking stocks. The 30-stock index regained the level last seen on April 5, 2022. The index closed at 60,176 in that session. In the afternoon session today, the 30-stock index was trading at 60,178, nearly 2,500 pts away from the all-time high of 62,245 it hit on October 19, 2021. Nifty was trading at 17,921, nearly 700 points aways from all time high of 18,604 it touched on October 10 last year.

While Sensex rose 326 points to 60,168, Nifty gained 96 points to 17,920 in the noon session.

2:37 pm: Market update

Sensex climbs 371 pts to 60,213 and Nifty gains 109 pts to 17,934 in the afternoon session.

1:11 pm: Expert take on Sensex at 60K

Jaideep Hansraj, MD & CEO Kotak Securities

 “Today’s rescaling of the 60,000 peaks is a sign of the strength of retail investors in India. It shows the belief of the investors in the India growth story and is another reminder to all of us to be optimistic about India Inc.”

12:56 PM:  Expert take on Sensex at 60K

Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd

"Sensex hits 60k level after 4 month period led by consumption related stocks & sectors. From the macro factors, crude oil prices helped our markets to revive from lower levels. At one point Sensex was about to break the psychological level of 50k but the confidence in the domestic economy from the retail investors, domestic institutions and fund manager managers helped the markets to stay above it. The market is not far from crossing the levels all time highest levels."

12:00 pm: ITDC shares zoom 10% as firm to hold roadshow for divestment of properties

Shares of India Tourism Development Corporation (ITDC) rose over 10 per cent today after the state-owned tourism body said it would hold a road show on August 22 to obtain views of market players on feasibility report for divestment of its properties. ITDC stock gained 10.48 per cent to Rs 378.4 against the previous close of Rs 342.50 on BSE. ITDC shares have gained 4.33 per cent in a year and risen 7.03 per cent in 2022.

In a month, the stock has gained 24.05 per cent.

Market cap of ITDC rose to Rs 3,177.76 crore on BSE. Total 9004 shares of the firm changed hands amounting to a turnover of Rs 32.98 lakh.

The stock hit a 52-week high of Rs 446.95 on September 27, 2021 and a 52-week low of Rs 262.5 on June 20, 2022.

11:53 pm: Latest update

Sensex rises 288 points to 60,130 and Nifty gains 87.05 points to 17,912.

11:27 AM: Singer India stock zooms 19% as data show Jhunjhunwala bought 42.5 lakh shares

Shares of Singer India logged major gains for the second consecutive session today after late investor Rakesh Jhunjhunwala's firm RARE Enterprises purchased 42.5 lakh hares at Rs 53.35 per unit via a bulk deal on BSE. Singer India shares opened with a gain of 8.46 per cent at Rs 75 against the previous close of Rs 69.15 on BSE.

Later, the stock hit an intraday high of Rs 82.50, rising 19.30 per cent on BSE.  Stock of Singer India  has gained 59.53 per cent in one year and risen 36.33 per cent since the beginning of this year. Market cap of the firm rose to Rs 441.81 crore on BSE.

10:43 am: Expert take

V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

"Experts disagreed on whether the ongoing rally is a bear market rally or the beginning of yet another bull market. The majority who believed that this is a bear market rally has been decisively proved wrong by the ferocity of the rally which has taken the Nifty to mere 4.3% away from the all-time high. It is important to appreciate the fact that there is global support to this rally with S&P 500 and Nasdaq bouncing back by 18  and 24% from their June lows. Declining US inflation, confidence that the Fed need not have to aggressively raise rates and the increasing probability of a soft landing of the US economy are supporting this rally. In India, steadily declining inflation, strong growth momentum in the economy and FIIs turning consistent buyers are driving  the rally. Even though valuations are high it makes sense to remain invested and buy on dips."

10:31 am: Sensex reclaims 60K

Sensex rises 271 points to 60,114 and Nifty gains 83 points to 17,908. Of 30 Sensex stocks, 24 are trading in the green.

9:55 AM: NTPC stock top Sensex gainer as firm seeks bids to raise Rs 5,000 crore

Shares of NTPC were the top Sensex gainers today amid reports that the state-owned power giant has floated a tender to raise Rs 5,000-crore term loan from financial institutions. NTPC stock rose 2.55 per cent to Rs 162.55 against the previous close of Rs 158.50 on BSE.

The stock opened higher at Rs 158.75. NTPC shares have gained 38.26 per cent in one year and risen 30.43 per cent since the beginning of this year. Market cap of NTPC rose to Rs 1.57 lakh crore on BSE. Total 1.01 lakh crore shares of the firm changed hands amounting to a turnover of Rs 1.63 crore.

9:28 am: Expert Take

V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"Experts disagreed on whether the ongoing rally is a bear market rally or the beginning of yet another bull market. The majority who believed that this is a bear market rally has been decisively proved wrong by the ferocity of the rally which has taken the Nifty to mere 4.3% away from the all-time high. It is important to appreciate the fact that there is global support to this rally with S&P 500 and Nasdaq bouncing back by 18  and 24% from their June lows. Declining US inflation, confidence that the Fed need not have to aggressively raise rates and the increasing probability of a soft landing of the US economy are supporting this rally. In India, steadily declining inflation, strong growth momentum in the economy and FIIs turning consistent buyers are driving  the rally. Even though valuations are high it makes sense to remain invested and buy on dips."

9:16 am: Market opens higher

Sensex rises 95 points to 59,937 and Nifty gains 13 points at 17,838. Of 30 Sensex stocks, 24 are trading in the green.

8:56 am: Expert take

Anand James - Chief Market Strategist at Geojit Financial Services.

Though Nifty paused yesterday at 17835, we are not convinced that Nifty has topped out. This encourages us to continue riding the 18200 view, but with VIX slipping, trading ranges are indeed shrinking. Downside markers may continue to remain near 17660/690, with 17900vicinity likely to pose an intraday challenge.

8:45 am: Expert Take

Palak Kothari, Senior Technical Analyst, Choice Broking

"The support for Nifty has shifted around 17,600 levels while on the upside, 18,000 may act as an immediate hurdle. On the other hand, Bank Nifty has support at 38,700 levels while resistance at 39,800 levels. Overall, the index is looking strong on charts, midcaps & small caps are giving good returns."

8:20 am: SGX Nifty

The Indian market is likely to open higher today as SGX Nifty rose 45 points to 17,901. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Tuesday

The stock market ended higher on Tuesday amid mixed global cues. Sensex rose 379 points to 59,842 and Nifty closed 127 points higher at 17,825. Of 30 Sensex stocks, 25 ended in the green. Mid-cap and small-cap indices on BSE gained 256 points and 258 points, respectively.

Auto, oil and gas, consumer durables and banking stocks were the top sectoral gainers with their BSE indices zooming 761 points, 348 points, 299 points and 205 points respectively