Sensex Today Ends 272 Points Higher | Network18 Media Rallies 20% | HCL Tech & ICICI Bank Top Gainers

Wed, 10 Jan Closing

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After opening the day flat, Indian share markets gained momentum as the session progressed and ended the day higher.

Indian benchmark indices managed to close Wednesday's highly volatile trade with some strength as heavyweights Reliance Ind, ICICI Bank, HDFC Bank and HCLTech lent support in the fag end.

At the closing bell, the BSE Sensex stood higher by 272 points (up 0.4%).

Meanwhile, the NSE Nifty closed higher by 74 points (up 0.3%).

Adani Enterprises, Cipla and Adani Ports were among the top gainers today.

ONGC, NTPC and BPCL on the other hand, were among the top losers today.

The GIFT Nifty was trading at 21,709 up by 84 points, at the time of writing.

The BSE MidCap index ended 0.2% higher and BSE SmallCap index ended 0.3% higher.

Sectoral indices ended mixed with stocks in the auto sector and IT sector witnessing most of the buying. Meanwhile, stocks in FMCG sector, oil & gas sector and power sector witness selling pressure.

Shares of Bosch, Hitachi Energy and Trent hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Asian share markets ended on the positive note. The Shanghai Composite ended 0.5% higher, while the Nikkei index ended 2% higher. Meanwhile Hang Seng ended 0.6% higher.

The rupee is trading at 83 against the US$.

Gold prices for the latest contract on MCX are trading 0.2% higher at Rs 62,274 per 10 grams.

Meanwhile, silver prices are trading 0.3% higher at Rs 72,237 per 1 kg.

Speaking of stock markets, arriving at a reasonable estimate of a stock's intrinsic value is easy. However, there are errors that can creep in and even the most astute analysts can fall prey to them.

So, what exactly are these errors and how are they associated with a stock like Titagarh Rail Systems.

Tune into below video for more

Paytm to Build Global Financial Ecosystem

In news from the fintech space, One97 Communications, which owns the Paytm brand, plans to invest Rs 1 billion (bn) in Gujarat International Finance Tec-City (GIFT City) to build a global financial ecosystem.

The company will invest over some time and will seek requisite approvals for the same.

The strategic investment in GIFT City represents a pivotal step towards building an Artificial Intelligence-driven cross-border remittance and payments technology landscape, presenting global opportunities.

This will enable the company to deliver fast, reliable, and cost-effective remittance solutions, reducing friction, at a global scale.

With GIFT City as an ideal innovation hub for cross-border activity, Paytm will use its proven capability to innovate and build new tech for users across the globe looking to invest in India.

Paytm also plans to set up a development centre in GIFT City to build the above solutions and provide a technology backbone.

The centre will create jobs and house engineers to develop a suite of world-class financial products and services.

Paytm is India's leading financial services company that offers payments and financial solutions to consumers.

It's an Indian-based mobile internet company and a subsidiary of One97 Communications.

To know what the future has in store for Paytm, check out Buffett Sells Paytm: What's Next?

Also check out the video where the Co-head of research at Equitymaster, Rahul Shah analyses Zomato and Paytm and says which is a better buy.

Why NALCO Share Price is Rising

Moving on to news from the aluminium sector, shares of National Aluminium Company Limited (NALCO) jumped 3% after chairman and managing director (CMD) Sridhar Patra laid out the roadmap to drive growth and sustainable business for the next three decades.

The ongoing expansion of the refinery and plans for expanding the smelter was propelled with the operationalisation of allotted coal blocks and receiving of the statutory clearances for Pottangi Bauxite mines.

Nalco is a Navratna public-sector undertaking (PSU) under the Ministry of Mines. It operates its captive Panchpatmali bauxite mines for the pit-head alumina refinery and aluminium smelter and captive power plant at Angul in Odisha.

Sony Zee Merger

Moving on to news from the media sector, Sony Group is actively engaged in discussions to merge its Indian subsidiary with Zee Entertainment Enterprises, with ongoing talks scheduled until 20 January.

Further, Sony had considered cancelling the deal due to disagreements surrounding the appointment of the merged entity's CEO. However, discussions on the terms of the deal are still in progress.

The merger agreement between Sony and Zee was signed in 2021, aiming for completion by the end of September the following year. The deal positions Sony as the majority stakeholder in the merged unit, which is anticipated to become India's largest broadcaster upon successful closure.

Although Indian regulators approved the merger in August.

Recent reports suggested Sony might abandon the $10 billion merger, raising questions about its closure. Zee expressed commitment to the merger and ongoing efforts toward a successful conclusion. Sony has not issued any official statement regarding the media reports on merger disputes.

Zee Entertainment Enterprises Limited is a media and entertainment company engaged in providing broadcasting services. It is one of India's leading media and entertainment companies.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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Indian Share Market Update: Top Gainers and Losers