Closing BellThe key benchmark indices extended their winning run into the fourth straight trading session backed by solid gains in index heavyweights – Reliance Industries, Infosys, ICICI Bank and Bharti Airtel.
Reliance and Airtel stole the limelight from the IT stocks, on reports that the three telecom majors (Jio, Airtel, Voda Idea) have sought 90-95 per cent reduction in 5G spectrun auction prices.
The IT shares were expected to be in focus owing to results announcement from Infosys, TCS and Wipro. While IT major Infosys ended with a gain of 1.1 per cent, TCS and Wipro, however, were down 1.5 per cent and 0.3 per cent, respectively, in trades awaiting the Q3 result announcements.
The BSE benchmark index, the Sensex, surged to a high of 61,218 in late trades, and ended 553 points higher at 61,150. The BSE 30-share index has gained 1,548 points in the last four straight trading sessions.
It’s counterpart, the NSE Nifty 50 index rose to its highest level since October 20, 2021, as it touched a high of 18,228. The NSE benchmark eventually ended with a gain of 156 points at 18,212.
Market Dashboard: Snapshot of key movers and shakers in trade today
Mahindra & Mahindra was the major gainer among the Sensex 30 shares. The stock ended 4.7 per cent higher at Rs 881. Bharti Airtel rallied nearly 4 per cent. IndusInd Bank and Reliance gained 2.6 per cent each.
ICICI Bank, Tata Steel, NTPC, Bajaj Finance, Kotak Bank and HDFC were the other prominent gainers. On the flip side, Titan declined 1.5 per cent. Tech Mahindra and HDFC Bank were the other notable losers.
The broader also finished with smart gains. The BSE Midcap index was up a per cent, and the Smallcap index gained 0.7 per cent. The breadth was marginally positive towards the end of the day – out of 3,530 stocks traded on the BSE, 1,834 advanced while 1,612 ended with losses on Wednesday.
As many as 544 stocks were locked at the respective upper circuits, while 377 stocks hit their lower circuit on the BSE.
In the broader markets, after crashing 21 per cent in trade on Tuesday, shares of Vodafone Idea (VI) were in demand today. The stock zoomed 9 per cent to Rs 12.85 on heavy volumes after the company’s chief executive officer today said that the government has no desire to run the company or in appointing a board member. READ MOREClick here for more market newsD-Mart ended with a loss of nearly 6 per cent in trades on Wednesday, and had slipped over 12 per cent in the last three trading sessions, after the company reported a mixed bag of results for the quarter ended December 2021, with margins reportedly tad below analyst estimates. READ MOREAmong the recently listed shares, Paytm dropped to a fresh 52-week low, down 3 per cent. Saphire Foods, Fino Payment Banks, Latent View Analytics, RateGain Travel Technologies, Data Patterns and HP Adhesives were down 1-5 per cent each. On the positive side, shares of Medplus Health Services, Tega Industries, Star Health, Nykaa, Tarsons Products and PolicyBazaar were up 1-5 per cent each.
___________________________________________________________________________________________Markets at 02:30 PMLIVE market updates: The key benchmark indices continued to remain steady, awaiting further cues from the IT major (Infosys, TCS, Wipro) Q3 results and macro-economic data later in the day – inflation, manufacturing and IIP numbers.
The BSE Sensex was up 410 points at 61,027, and the NSE Nifty had advanced 120 points to 18,176.
Among the Sensex 30 shares, Mahindra & Mahindra has surged nearly 5 per cent. Bharti Airtel and IndusInd Bank had gained around 3 per cent each. Reliance too was up 2.5 per cent.
Bajaj Finance, ICICI Bank, Tata Steel, Infosys, SBI and Kotak Were the other prominent gainers. On the flip slide, TCS and Wipro had slipped around 1.5 per cent each. Titan, Tech Mahindra and HDFC Bank were the other notable losers.
Among sectoral indices, the BSE Telecom index had zoomed 2.7 per cent, the Realty and Energy indices had surged 1.8 per cent each. The Auto, Power and Metal indices were also up around a per cent each.
In the broader markets, as many as 584 stocks registered a fresh 52-week high, while just seven stocks including Paytm recorded a new 52-week low in trade so far on the BSE.
Shares of Goldiam International rallied 16 per cent to Rs 1,042 on the BSE in Wednesday’s intra-day trade after the company said its board will meet on February 8 to consider the proposal for sub-division/split of company’s equity shares of face value of Rs 10 each. READ MORE___________________________________________________________________________________________Markets at Lunch (01:30 PM)LIVE market updates: The key benchmark indices had pared some gains from the high’s of the day owing to weakness in select IT stocks.
The BSE Sensex had touched a high of 61,210, and was up 396 points at 61,013. The NSE Nifty had gained 113 points at 18,169.
Select IT stocks like TCS and Wipro were down over a per cent each. Tech Mahindra too was down 0.6 per cent.
The broader indices were also holding decent gains in noon deals. The BSE Midcap index was up 0.9 per cent, and the Smallcap index had added 0.4 per cent. The overall breadth was also fairly positive with 1,789 advancing shares versus 1,606 declining stocks on the BSE so far.
In the broader markets, Vodafone Idea zoomed 14 per cent to Rs 13.50 in Wednesday’s intra-day trade after the company’s chief executive officer clarified that the government has no desire to run the company or in appointing a board member. READ MOREVarroc Engineering, Hindustan Foods, Gujarat Alkalies, Mahindra Holidays, Sequent Scientific, GHCL, Adani Power, Tata Communications, Sharda Corpchem, Gati, The Byke Hospitality, Pearl Global Industries, Orbit Exports, Oriental Hotels, Menon Bearings, Apex Frozen Foods, Indo Rama Synthetics, Goldiam International, Control Print, Arihant Capital Markets, Pil Italica Lifestyle and Apollo Pipes were the other major gainers in the broader markets.
Whereas, Greaves Cotton had tumbled 8 per cent and was the top prominent loser in the broader market space. Man Infraconstruction, JP Associates, garware Hi-tech, Hindustan Construction, JP Power Ventures, D-mart, MTNL, Bajaj Hindusthan, Oriental Timex, Shree Rama Multi Tech, Dhunseri Tea, Kellton Tech Solutions, Cambridge Technology, Alankit, Garment Mantra Lifestyle, Coral India Finance and Autoline Industries were the other significant losers.
Elsewhere in Asia, the major markets ended with solid gains. Hang Seng rallied 2.5 per cent, while Nikkie gained 1.9 per cent. Shanghai Composite was up 0.8 per cent, and Kospi jumped 1.5 per cent. Taiwan moved 0.5 per cent higher.
________________________________________________________________________________________Markets at 12 NoonLIVE market updates: The benchmark indices steadily held their strong gains in noon trade, as rising covid cases did not seem to deter market participation. The BSE Sensex was higher by 502 points at 61,119, while the NSE Nifty was up 137 points at 18,193.
In the broader market too, the BSE MidCap and SmallCap indices were up 0.6 and 0.5 per cent, respectively. On the NSE, Nifty 100 and MidCap 100 were the leading gainers, up 0.7 per cent. Other indices too were in the green zone.
Continued buying support in heavyweight RIL and banking and financial counters kept indices maintain their gains.
Auto stocks were now seen inching upwards, after being tepid early in the day. M&M was the top gainer on the Sensex, up 2.4 per cent. The Nifty Auto index was up 0.8 per cent. Banks, Realty and Energy stocks too continued to be among the prominent gainers.
On the flip side, HDFC Bank, Titan, Nestle, TCS, Wipro, Tech M, and pharma majors Dr Reddy’s and Sun Pharma were in the negative territory. Cipla and Divis Labs were also down 1.4 and 0.6 per cent, respectively, on the Nifty.
Among stocks, the shares of Adani Green Energy (AGEL) hit a new high of Rs 1,666, up 6 per cent, surging as much as 16 per cent in the past two days on the BSE after the company announced a provisional operational update for the third quarter ended December 2021 (Q3FY22). READ MORE.__________________________________________________________________________________________Markets at 11 AMLIVE market updates: The benchmark indices extended gains in morning trade and were rallying up to 0.8 per cent. The BSE Sensex was up 496 points at 61,113, while the NSE Nifty was higher by 137 points at 18,193.
The up move in the indices was on the back of continued buying in financial stocks and heavweights RIL, Infosys and HDFC. The three were trading 0.9-2.3 per cent higher.
Among financials, Bajaj Finance and Bajaj finserv were the top gainer, up 2.4 per cent and 1.8 per cent, respectively. Kotak Bank, IndusInd, ICICI, SBI, PowerGrid, Tata Steel, Bharti Airtel, M&M and L&T were the other leading gainers on the Sensex. Steel stocks Hindalco and JSW Steel were the additonal gainers on the Nifty.
Among laggards were pharma and IT pack, the two indices were trading flat.
Individually,shares of Steel Exchange India were locked at the 5 per cent upper circuit at Rs 238, also its new high on the National Stock Exchange (NSE) after a foreign portfolio investor bought 5 million equity shares of the company via open market. READ MORESimilarly,shares of DLF gained 4 per cent at Rs 426.70 on the BSE after the company said it clocked sales worth approximately Rs 1500 crore for towers in the first phase of the newly launched luxury residential project, ONE Midtown.READ MORE.____________________________________________________________________________________________Markets at 10 AMLIVE market updates: The benchmark indices were firm in early morning deals holding their opening gains on the back of buying in heavweight RIL, private lender HDFC and select banking counters such as ICICI Bank, Kotak Bank and SBI. All of these were up between 0.9-1.6 per cent.
The BSE Sensex was up 343 points 60,960, after reclaiming the 61,000 mark at open. The NSE Nifty was nearly 100 points higher at 18,154.
The BSE MidCap and SmallCap indices too were firmly positive and were up 0.7 and 0.8 per cent, respectively.
Sectorally, on the NSE, the Realty index was the leading gainer, up nearly 3 per cent, followed by metals, energy and PSU Banks.
On the flip side, IT and Pharma indices were largely muted, down 0.1 per cent each. IT majors TCS, Wipro, and HCL Tech were trading lower up to 0.7 per cent, except Infosys, which was up 0.6 per cent.
Among stocks, the shares of Tata Teleservices (Maharashtra) were locked at the 5 per cent lower circuit at Rs 276.50 on the BSE after the company decided to convert interest related to adjusted gross revenue (AGR) dues of Rs 850 crore into equity.
The government will hold approx. 9.5 per cent stake as per company’s estimates. In October, the company had decided to opt for deferment of these dues. READ MORE.___________________________________________________________________________________________Opening BellLIVE market updates: Deriving support from robust global cues, the benchmark indices opened higher on Wednesday extending gains for the fourth straight day. The BSE Sensex was up 327 points at 60,944 while the NSE Nifty was 106 points higher at 18,162. The two indices were rallying up to 0.5 per cent.
In the broader market, the BSE MidCap and SmallCap indices were also in the green zone and were up 0.4 and 0.6 per cent, respectively.
Among Sensex-30 shares, only Titan, Dr Reddy’s, HUL, TCS and Nestle were in the red, all other stocks were trading up with highest gains in Ultratech Cement, Tata Steel, IndusInd Bank, Bajaj Finance, SBI, Kotak Bank, Bharti Airtel, Sun Pharma, L&T and RIL, up between 0.8-1.6 per cent.
On the Nifty, Hindalco, ONGC, Grasim, BPCL and IOC were the additonal gainers. On the downside, Cipla, UPL and some auto stocks were among the losers.
All Nifty sectoral indices too were trading in the positive territory, with highest gains in metals and realty, up 1.3 and 2 per cent, respectively, followed by oil and gas and bank indices.
Among stocks, Delta Corp was up over 3 per cent on the BSE on the back of strong Q3 earnings.
___________________________________________________________________________________________Pre-open sessionLIVE market updates: The benchmark indices were positive in the pre-open trade amid strong global sentiment. The BSE Sensex was up 443 points at 61,060, while the NSE Nifty was 110 points higher at 18,166.
___________________________________________________________________________________________LIVE market updates: The benchmark indices are likely to start higher on Wednesday extending gains for the fourth straight session amid strong cues from their global peers. At 8:10 am, the SGX Nifty futures were quoted 150-odd points higher at 18,237, when compared to Nifty’s spot close the previous day.
Positioning in IT stocks will likely be visible today ahead of their quarterly earnings to be announced after market hours.
Further, macroeconomic data on inflation, manufacturing and IIP numbers will also be watched out to gauge possible policy action by the RBI.
Telecom stocks too could be in focus with the three leading telcos seeking 90-95 per cent reduction in base price of 5G spectrum auction.
Global cues
The US markets bounced back on Tuesday after Powell’s comments likely reassured investors that the Fed was not going to prioritize inflation reduction above everything else, including employment. The Dow Jones advanced 0.5 per cent, the S&P 500 added 0.9 per cent and Nasdaq jumped 1.4 per cent.
Meanwhile, oil prices rose sharply in trade on Tuesday supported by tight supply and easing fears of lesser economic impact due to Omicron. Brent Crude surged 2.9 per cent to $83.72 a barrel, and WTI Crude rallied 3 per cent to $81.22 a barrel.
The major Asian markets painted a rosy picture on Wednesday morning. Nikkei and Hang Seng had rallied 1.2 per cent and 1.6 per cent, respectively. Kospi too had jumped over a per cent. China’s Shanghai Composite, Straits Times and Taiwan Weighted were up 0.3-0.4 per cent each.
