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Stock Market Highlights: Sensex surges 1,277 pts to reclaim 58,000 and Nifty tops 17,250 — rupee gains to 81.52 vs dollar

Stock Market Highlights: Sensex surges 1,277 pts to reclaim 58,000 and Nifty tops 17,250 — rupee gains to 81.52 vs dollar

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Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 surged more than two percent each, in line with a rebound across global markets, as investors overlooked worries about the impact of steep rate hikes on economic growth after days of heavy selling. Gains across sectors pushed the headline indices higher, with financial, IT, oil & gas and metal shares being the biggest boosts. Broader indices Nifty Midcap 100 and Nifty Smallcap 100 jumped 2.7 percent and 1.8 percent respectively. The Indian market will remain shut on Wednesday for Dussehra.

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Thank you, readers! That's all from CNBCTV18.com's live market coverage on Oct 4, 2022. Trading will resume on Dalal Street on Thursday on account of the Dussehra holiday on Wednesday.

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Oct 4, 2022 4:31 PM

IT revenue to remain under pressure for at least a year: Avendus Capital's Vaibhav Sanghavi

Avendus Capital, Co-CEO of Avendus Capital Alt Strategies, believes revenues of IT companies are going to remain under pressure for at least one year, given the environment of downgraded global growth forecasts and companies facing cost pressure. "We have already seen that the margins are weak and going forward also, you might continue to see some amount of pressure there as well. So at this point in time, while IT stocks have corrected from their highs, we are still not very constructive at these levels,” he tells CNBC-TV18. 

Oct 4, 2022 4:29 PM

TVS Motor Company top pick from auto pack: Mehraboon J Irani 

Market expert Mehraboon J Irani believes that although TVS Motor has become "a little bit expensive", it remains his top pick from the space. "It has moved up very well. I would not touch Hero MotoCorp though trading could provide an opportunity,” he tells CNBC-TV18. 

Oct 4, 2022 4:29 PM

IndusInd, Adani Ports and Bajaj top blue-chip gainers

Oct 4, 2022 4:12 PM

Market At Close | Sensex and Nifty50 surge over 2% 

Here are some highlights: 

--Financial stocks outperform — Bajaj Finance and HDFC among top Nifty gainers

--All Nifty stocks except PowerGrid and DRL in the green

--IndusInd jumps five percent after lender reports rise in market share in July-Sept

--Adani Ports, TCS, Coal India and UPL top Nifty gainers 

--M&M Financial surges over 11 percent following Q2 business update

--IDFC First, IDFC, L&T Finance and Zee top midcap gainers

--Marico, GSPL, Dabur and PVR top midcap losers

--MGL jumps three percent after co hikes CNG price in Mumbai by Rs 6/kg

Oct 4, 2022 3:50 PM

Tracxn Technologies to launch IPO on October 10

The public offer of Tracxn Tech is entirely an offer for sale (OFS) of 3.9 crore shares by existing shareholders and promoters, which means the company will not get any proceeds from the issue. The bidding process will remain open for three trading days till October 12. (Read more)

Oct 4, 2022 3:50 PM

CNBC-TV18 polls debt fund managers and economy experts

Oct 4, 2022 3:41 PM

See a lot of demand in the US market: Vimal Kejriwal of KEC International 

Oct 4, 2022 3:05 PM

Buy Chalet Hotels and Mazagon Dock: Equity99's Rahul Sharma 

Here are two recommendations from Rahul Sharma of Equity99 Advisors:

--Buy Mazagon Dock Shipbuilders for a target of Rs 560-575 with a stop loss at Rs 490

--Buy Chalet Hotels for a target of Rs 390-400 with a stop loss at Rs 349

Oct 4, 2022 2:46 PM

KEC International surges in intraday trade on getting fresh orders of over Rs 1,400 crore

Shares of KEC International touched an intraday high of over 5 percent on the BSE, a day after the company said it bagged new orders worth Rs 1,407 crore across its various businesses. (Read more)

Oct 4, 2022 2:37 PM

Zydus Life gets tentative US FDA nod for Amantadine Capsules  

Oct 4, 2022 2:26 PM

H1FY23 has been strong for the company: Rishi Gupta of Fino Payments Bank

Oct 4, 2022 2:23 PM

Coal India near day’s high

Oct 4, 2022 1:54 PM

Intense rainfall likely over UP from Oct 5 to 8, over Uttarakhand from Oct 6 to 8: IMD

Weather office IMD also predicts heavy rainfall over Odisha, Coastal Andhra, Chhattisgarh and Madhya Pradesh in the next three days.

Oct 4, 2022 1:49 PM

Force Motors records 19.6% growth YoY in total sales 

Total sales in September stood at 2,582 units against 2,159 units in the year ago period.

Oct 4, 2022 1:14 PM