Share Market update: Sensex rises 59 pts, Nifty above 17,550; Titan, NTPC top gainers

The Indian market ended higher today. Sensex ended 59 pts higher at 58,833 and Nifty closed 36 points higher at 17,558. Benchmark indices ended lower on Thursday as a fag-end sell-off erased early gains, with IT and banking stocks falling amid monthly derivatives expiry. Sensex closed 310.71 points lower at 58,774.72. During the day, it hit a high of 59,484.35 and a low of 58,666.41. Nifty dropped 82.50 points or 0.47 per cent to end at 17,522.45.

Bulls vs Bears: Here's what to expect on Dalal Street today

Here's a look at live market updates today.

3:30 pm: Sensex ends 59 pts higher at 58,833 and Nifty closes 36 points higher at 17,558.

2: 55 pm: Tata Motors shares zoomed 600% in over two years, what lies ahead?

Shares of Tata Motors have zoomed over 600 per cent in nearly 2.5 years from the low they hit after the Modi government imposed first coronavirus lockdown in March 2020. On April 3, 2020, the stock closed at Rs 65.30. It trades at Rs 460 level today, translating into returns of 604 percent during the period. Late investor Rakesh Jhunjhunwala held 1.09 per cent or 3.62 crore shares in the firm at the end of June quarter of the current fiscal.

The large cap stock touched an intraday high of Rs 468.55, rising 2.07 per cent on BSE today. Tata Motors shares are trading higher than 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages.

Total 3.56 lakh shares of Tata Motors changed hands amounting to a turnover of Rs 16.72 crore on BSE. The market cap of the firm stood at Rs 1.54 lakh crore on BSE.

1:58 pm: IDBI Bank shares rise for second session on govt's stake sale plan

IDBI Bank stock extended gains for the second straight session today amid a report that the government was considering selling at least 51 per cent of its stake in the lender. IDBI Bank stock rose 5.81 per cent in the afternoon session to Rs 45.5 against the previous close of Rs 43 on BSE. On  Thursday, the banking stock hit an intraday high of Rs 44.20, rising 10.09 per cent  on BSE. In a year, the share has gained 18.34 per cent but fallen 3.34 per cent since the beginning of this year. Total 20.37 lakh shares changed hands amounting to a turnover of Rs 9.12 crore. Market cap of the lender rose to Rs 48,278 crore on BSE.

11:25 am: Sensex rises 268 pts to 59,042 and Nifty gains 83 points to 17,606.

10:20 am: Syrma SGS Technology stock makes stellar debut, lists at 19% premium to issue price

Shares of Syrma SGS Technology made a stellar market debut today as the electronics manufacturing services (EMS) firm listed at Rs 262, a premium of 19.09 per cent over its issue price of Rs 220 on BSE. The stock listed at Rs 260 on NSE. The firm offered its shares in a price band of Rs 209 to Rs 220 in the IPO.

The market cap of Syrma SGS Technology stood at Rs 4,617.20 crore. A total of 4.11 lakh shares of the firm changed hands amounting to a turnover of Rs 10.75 crore on BSE. On NSE, market cap of Syrma SGS Technology rose to Rs 4,850.70 crore. A total of 81.25 lakh shares of the firm changed hands amounting to a turnover of Rs 214.34 crore on BSE. The initial public offering (IPO) of Syrma SGS Technology was open for subscription from August 12 to August 18. The initial public offer (IPO) of Syrma SGS Technology was subscribed 32.61 times on the fourth and final day of the offer.

9:43 am: Syrma SGS Technology stock to list today

The engineering and design company will make its debut at Dalal Street today. The company had raised 840 crore through its IPO between August 12-18 by selling its shares in the range of Rs 209-220 apiece.

9:21 am: Market update

Sensex rises 507 pts to 59,282 and Nifty gains 148 pts to 17,670 .

9:17 am: Tirthankar Das, Technical & Derivative Analyst, Retail, Ashika Stock Broking Ltd.

"On the technical front, Nifty formed a long bearish candle on the daily chart though the overall market breadth was positive. The market saw long liquidations on the monthly F&O expiry date followed by nervousness ahead of the US Fed Jackson Hole meeting. Hence it seems that the Index is likely to witness a prolong consolidation in the broader range of 18000-17400 wherein stock specific action would prevail. Consequently, the index are in for a cool off from overbought conditions. Important to note that Nifty has registered a bullish golden crossover (50dma crossing 200dma) indicating of long term structural bullish development. Hence dips from here on should be capitalised. On the upside immediate hurdle remains is at 17725 followed by 17835 while on the downside 17450-17480 is likely to act as crucial support during the day. Hence one can initiate buy position at lower levels of 17450-17500 for an upside target of 17775-17800."

9:06 am: Prashanth Tapse - Research Analyst, Senior VP (Research), Mehta Equities Ltd

"Local benchmarks are likely to start the Friday session with solid gains, tracking overnight surge in US markets and subsequent rally in other Asian gauges. Intra-day markets could remain volatile as investors are likely to maintain caution ahead of the Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole symposium. Investors are worried that the Federal Reserve Chairman will double-down on the central bank's inflation fight. The bets are on another 75 basis point rate hike from the Fed, following two similar increases in June and July. Technically, markets may stay bullish as long as Nifty stays above its biggest make-or-break support at 17345."

8:10 am: Expert Take

Nagaraj Shetti, Technical Research Analyst, HDFC Securities

"The sharp intraday weakness of Thursday could be a worrying factor for the bulls to sustain the highs. As long as Nifty sustains above the supports of 17300-17200 levels, there is a possibility of an upside bounce from the lower levels. One may expect broader range movement for the Nifty around 17700-17800 on the upside and 17300-17200 levels on the downside for the near term."

8:00 am: SGX Nifty

The Indian market is likely to open higher today as SGX Nifty rose 99 points to 17,687. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

7:55 am: Market on Thursday

Benchmark indices ended lower as a fag-end sell-off erased early gains, with IT and banking stocks falling amid monthly derivatives expiry. After remaining in the positive territory for most part of the trade, Sensex suddenly came under selling pressure during the last half-hour of the session. It closed 310.71 points lower at 58,774.72. During the day, it hit a high of 59,484.35 and a low of 58,666.41. Nifty dropped 82.50 points or 0.47 per cent to end at 17,522.45.