Share Market update: Sensex rises 436 pts, Nifty ends above 16,600; RIL, Bajaj Finserv, Sun Pharma top gainers

The Indian market ended in the green today. On Wednesday, Sensex fell 185.24 points to close at 55,381.17. During the day, it dived 474.98 points or 0.85 per cent to 55,091.43 after an initial rally. Nifty dipped 61.80 points or 0.37 per cent to end at 16,522.75.

Nestle India, Tech Mahindra, Bajaj Finserv, Sun Pharma, Hindustan Unilever, PowerGrid, UltraTech Cement, HCL Technologies, Wipro, Infosys and Bajaj Finance were among the top Sensex losers, falling up to 3 per cent.Here's what to expect on Dalal Street today.

Here's what to expect on Dalal Street today.

3:30 pm: Market ends in green

Sensex rises 437 points to 55,818 and Nifty closes 105 points higher at 16,628. 

3:21 pm: Aether Industries IPO Listing on June 3, 2022

Prashanth Tapse, Vice President (Research), Mehta Equities said, "Subdued market sentiments at the time of offer period and low investors’ appetite after witnessing underperformance in recently listed IPOs like CAMPAS and LIC was the key reason for lower subscription response despite valuation offered at reasonable levels.

Now considering stable market sentiments and Aether being a niche player in the speciality chemical business enjoying high margins in few selected products may surprise markets post listing. We expect a soft listing around plus or minus 5%, most probably in the positive zone.

We advise allotted investors to consider holding the issue for long-term perspective despite short-term volatility in markets which can’t be ruled out while non-allotted investors may also look to accumulate on listing day."

2:30 pm: Ami Organics stock rises over 2%

Stock of Ami Organics rose over 2 per cent today after Plutus Wealth Management LLP bought 5.25 lakh  shares in the company via open market transactions at an average price of Rs 880.34 per share

Ami Organics share climbed 2.39 percent to Rs 943.75 on an intraday basis on BSE.

2:21 pm: 100 days of Russia-Ukraine crisis: Here’s how commodities, markets, economy have been impacted

It’s been almost 100 days since the Russia-Ukraine war marred the Indian economy. With the invasion, prices of essential commodities rose, and along with it, the annual inflation rate went up to 7.8 per cent in April this year, highest since May 2014. Vanaspati oil, wheat, mustard oil and sugar were the most impacted commodities due to this crisis. Read more

2:15 pm: Market extends gains

Sensex rises 406 points to 55,787 and Nifty gains 107 points to 16,630 in the afternoon session.

1:40 pm: Welpsun Enterprises stock rises 8 per cent

Shares of Welpsun Enterprises rose over 8 per cent today after the firm received orders of Rs 4,636 crore from BMC for Dharavi Wastewater Treatment facility. Welpsun Enterprises stock gained 8.5 per cent to Rs 103.4 on BSE.

1:15 pm:  Top Sensex gainers are RIL, Bajaj Finserv and TCS rising up to 3.14 per cent in afternoon session.

1:06 pm: Why auto stocks are trading flat today despite strong May sales

Auto shares were trading flat today despite the market players posting a strong set of sales numbers for May 2022. Analysts cited the flat movement in stocks due to the low base effect. Sales of the auto industry was severely hit by the Covid lockdown in May 2021. Hence, sales numbers in last month are not comparable on a year-on-year basis.

12:18 pm: Market update

Sensex rises 206 points to 55,587 and Nifty gains 27 points to 16,550 in the afternoon session.

11:15 am: Adani Wilmar stock rises 5%

Adani Wilmar stock was trading in the green in a highly volatile market today. The stock saw strong buying sentiment amid a report on Association of Mutual Funds in India (AMFI) market cap categorisation of stocks by Edelweiss. The report says the brokereage has listed LIC along with Adani Wilmar as the potential stocks to be assigned large-cap tag. AMFI is expected to release the new categorisation in the first week of next month. AMFI is likely to disclose the new categorisation in the first week of July . Shares of Adani Wilmar rose 5 per cent to Rs 677.15 against the previous close of Rs 644.95 on BSE.

10:47 am: Market turns green

Sensex rises 132 points to 55,513 and Nifty gains 17 points to 16,539.

10:00 am: RIL stock rises after two days as subsidiary inks JV with Plastic Legno SPA

Reliance Industries Ltd (RIL) stock rose over 2 per cent in a volatile market today after Reliance Brands Limited (RBL) inked a joint venture arrangement with Plastic Legno SPA to strengthen the toy manufacturing ecosystem in India.

RBL will buy a 40 per cent stake in Plastic Legno SPA's toy manufacturing business in India. Plastic Legno SPA is owned by the Sunino Group that boasts over 25 years of toy output experience in Europe.

The share of parent company RIL rose 2.18 per cent to Rs 2,689 today against the previous close of Rs 2,632.20 on BSE. Read more

9:20 am: Top losers

PowerGrid, NTPC, ITC, HUL among top Sensex losers, falling up to 1.46 per cent.

9: 16 am: Market opens lower

Sensex falls 209 points to 55,171 and Nifty slips 64 points to 16,458 in opening trade.

9:08 am: Pre-opening comment

Mohit Nigam, Head - PMS, Hem Securities said, "On the technical front, the key resistance level for Nifty 50 is 16,700, and on the downside, 16,400 can act as strong support. The key support and resistance levels for Bank Nifty are 35,000 and 36,200 respectively."

8:35 am: Expert take

Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, "The near-term uptrend status remains intact for Nifty on the daily chart and the smaller degree of higher tops and bottoms is also active. After the upside breakout of hurdle at 16400 levels on Monday, Nifty showing minor weakness down to the previous upside breakout area (16400 levels) could be considered as an important support for the market. Other supports like daily 10 and 20 period EMA are also placed around 16400 levels. The near-term uptrend of Nifty remains intact and present consolidation or minor weakness could be considered as a buy on dips opportunity for the short term. The market could shift in to another 1 or 2 sessions of range move or minor weakness, before showing a sharp upside bounce from the lows. The near-term upside target remains intact at 16,800 levels."

8:30 am: SGX Nifty

The Indian market is likely to open lower today as SGX Nifty fell 93 points to 16,414. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Wednesday

Benchmark indices came under selling pressure in a choppy session on Wednesday amid mixed trends from global markets. High crude oil prices and foreign fund outflows also led the indices to end lower for the second straight session.

Sensex fell 185.24 points to close at 55,381.17. During the day, it dived 474.98 points or 0.85 per cent to 55,091.43 after an initial rally. Nifty dipped 61.80 points or 0.37 per cent to end at 16,522.75.

Nestle India, Tech Mahindra, Bajaj Finserv, Sun Pharma, Hindustan Unilever, PowerGrid, UltraTech Cement, HCL Technologies, Wipro, Infosys and Bajaj Finance were among the top Sensex losers, falling up to 3 per cent.