MARKETS: Sensex, Nifty erase gains; Patym, LatentView up over 17%

Markets at Lunch (01:30 PM)

LIVE market updates: The key benchmark indices registered fresh intra-day gains in noon deals as financial shares firmed up.

The Sensex touched a high of 58,968, and was up 251 points at 58,915. The NSE Nifty was up 90 points at 17,593.

Power producers PowerGrid Corporation and NTPC were the major per centage gainers among the Sensex 30 stocks. ICICI Bank, Bajaj Finserv and Kotak Bank also rallied around 2 per cent each. On the flip side, Maruti had slipped 2 per cent.

Recently listed shares have logged smart gains in trade so far. Paytm and LatentView have zoomed over 17 per cent each. SJS Enterprise has soared 15 per cent. Fino Payments Bank and PolicyBazaar were up 9 per cent and 6.5 per cent, respectively.

Elsewhere in Asia, Nikkei tumbled 1.6 per cent. Kospi and Taiwan were down 0.1 per cent each. On the positive front, Hang Seng gained 0.3 per cent. Shanghai and Straits Times were up 0.1 per cent each.

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Markets at noon

LIVE market updates: Indian equities are holding on to their gains despite volatility in the markets. The BSE Sensex is at 58,822 levels, up 157 points, while the Nifty50 index is at 17,559 levels.

The broader markets, however, are outperforming benchmarks. The BSE MidCap index is up 0.5 per cent and the BSE SmallCap index is up 1.2 per cent. In comparison, the benchmarks are up 0.3 per cent.

Individually, Triveni Engineering & Industries, Dhampur Sugar Mills, Balrampur Chini Mills, Dwarikesh Sugar Industries, Uttam Sugar Mills, EID Parry and Avadh Sugar & Energy were up between 3 per cent and 11 per cent on the BSE on the back of positive outlook. READ MORE

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Markets at 11 AM

LIVE market updates: Frontline indices are trading within a narrow range on Wednesday, a day ahead of the scheduled F&O expiry.

The BSE Sensex was at 58,894, up 230 points, at 11:00 AM. The index has, so far, touched a high and low of 58,941 and 58,565, respectively.

The NSE Nifty, too, was up 74 points at 17,577 levels. It has touched an intra-day high and low of 17,592 and 17,485, respectively.

India VIX has cooled off further at 16.5, down 8 per cent.

The Nifty Energy index is up 1 per cent led by ONGC (up 4 per cent), Tata Power (3.5 per cent), and Gail (2.5 per cent). A recent report by CLSApegs domestic gas price at $7 by April, 2022, and $10 by October, 2022.

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Markets at 10 AM

LIVE market updates: Benchmark indices are ruling over quarter per cent higher, lifted by gains in financial, realty, and pharma stocks. The BSE Sensex is at 58,778, up 113 points while the Nifty50 is at 17,544.

In the broader markets, the BSE SmallCap index is outperforming both, large-cap and mid-cap, indices. The index is up over 1 per cent.

Sectorally, select IT and auto stocks, including Coforge, Infosys, Tech M, Maruti Suzuki, Hero MotoCorp, and M&M, are trading with a negative bias.

Meanwhile, volatility index, India VIX, eased about 5 per cent.

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Opening Bell

LIVE market updates: Indian equities started higher on Wednesday, supported by firm global cues and buying in heavyweights such as Bharti Airtel, SBI, Axis Bank, and TCS.

The benchmark S&P BSE Sensex advanced 47 points, or 0.08 per cent, to quote at 58,711 in opening deals. The NSE Nifty50, on the other hand, added 30 points to hold 17,550-mark.

The broader markets, too, rose in tandem with the headline indices and gained up to 0.6 per cent.

Those of Latent View Analytics, meanwhile, rise another 3 per cent after a solid debut on Tuesday.

Sectorally, all except the Nifty Metal index were trading in the positive zone, led by the Nifty PSU Bank index (up over 1 per cent).

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Pre-open session

LIVE market updates: Pre-open session indicates decent opening gains for benchmark indices. The S&P BSE Sensex was at 58,836 levels, up 171 points at 9:07 AM while the Nifty50 eked out 46-point gain and was at 17,550.

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LIVE market updates: The markets may look to extend the pull-back rally in trades on Wednesday backed by some positive news flow for select index heavyweights.

At 08:10 AM, the SGX Nifty November futures quoted at 17,570 as against the spot close of 17,503 on Tuesday.

Technically, the current pull-back is likely to face strong resistance around 17,800-17,850 levels. On the downside, the Nifty may test 17,050-odd levels.

Global markets

The Wall Street ended mixed and the dollar slipped from a 16-month high on Tuesday as investors positioned for a likely rate hike in 2022 after Powell’s nomination for a second term. The Dow Jones gained 0.6 per cent, and the S&P 500 added 0.2 per cent. Nasdaq, however, retreated 0.5 per cent.

Meanwhile, the markets in Asia this morning were marginally positive. Hang Seng, Kospi and Taiwan were up 0.1 per cent each. Shanghai Composite and Straits Times had gained 0.2 per cent and 0.3 per cent, respectively. Nikkei, however, was down 0.6 per cent.