Closing BellThe benchmark indices consolidated in trades on Tuesday after two days of decent gains as global cues too were tepid. The BSE Sensex touched a high of 60,670 in early deals, but thereafter languished in the negative zone for a major part of the trading day.
The Sensex slipped to a low of 60,214 – down 457 points from the day’s high, and finally ended 112 points lower at 60,433.
Similarly, the NSE Nifty from a high of 18,113 declined to a low of 17,983 and eventually settled with a marginal loss of 25 points at 18,044.
Among the Sensex 30 stocks, HDFC twins were the major draggers accounting for a loss of 175 points on the 30-share index. HDFC and HDFC Bank were down around 1.5 per cent each. Bajaj Finance, NTPC, Maruti, Kotak Bank, PowerGrid Corporation, Bajaj Finserv and Titan were the notable losers.
On the positive front, Mahindra & Mahindra zoomed over 5 per cent to Rs 904. SBI, Reliance Industries and ICICI Bank were up a per cent each.
Market Dashboard: Snapshot of key movers and shakers in trade today
The broader indices, however, finished in the positive zone. The BSE Midcap index advanced 0.8 per cent to 26,520, and the Smallcap index added 0.7 per cent to 29,321.
Among sectors, the BSE Auto index jumped 1.3 per cent. The Capital Goods, Energy and Oil & Gas indices were also up around a per cent each. The Metal index, however, was down 0.8 per cent.
In the broader markets, Tata Motors DVR rallied to a four-year high and has gained nearly 53 per cent in the last one month after the Tata Group Company said it will raise Rs 7,500 crore ($1 billion) in its passenger electric vehicle (EV) business from TPG Rise Climate at a valuation of up to $9.1 billion.
Click here for more market newsIn the primary market, Paytm’s parent company’s IPO was subscribed 46 per cent as of 15:30 hrs on Day 2 of the issue. Sapphire Foods was subscribed 44 per cent on its opening day.
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Markets at 02:30 PMLIVE market updates: The key benchmark indices were marginally in red mainly on account of weakness in HDFC twins and Maruti. The BSE Sensex was down 126 points at 60,417, and the NSE Nifty was down 26 points at 18,043.
The broader indices are also off the day’s high. The BSE Midcap index was up 0.7 per cent at 26,495, as against the day’s high of 26,572. The BSE Smallcap index was also up 0.7 per cent at 29,330, having trimmed some gains from the day’s high of 29,365.
In the broader markets, S H Kelkar was locked at the 20 per cent upper circuit at Rs 184. Punjab Communications, Williamson Magor, Deep Industries, Allied Digital Services and Subex rallied 14-17 per cent each. On the other hand, Gujarat Lease Financing, RS Software, HG Infra, Patel Integrated Logistics, KRBL and MAS Financial Services were the major losers.
Meanwhile, the European markets have opened on a flat note. DAX 30 was up 0.1 per cent, while CAC 40 was down 0.1 per cent. FTSE 100 was unchanged.
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Markets at Lunch (01:30 PM)LIVE market updates: The key benchmark indices continue to consolidate in a narrow band in mid-noon deals. The BSE Sensex was down 74 points at 60,471, and the NSE Nifty was down 11 points at 18,058.
Mahindra & Mahindra has moved up 2.8 per cent to Rs 880 after the auto-maker reported multi-fold jump in Q2 net at Rs 1,434.38 crore for Q2FY22 as against Rs 182.46 crore in the corresponding quarter a year ago. Total income was also up 20.3 per cent at Rs 14,410.18 crore on a year-on-year basis.
Among sectors, the notable movers were – BSE Capital Goods index up over a per cent, and Metal index down nearly a per cent. Most of the other indices held marginal gains.
Meanwhile, the Asian markets exhibited mixed trend in trade today. The Taiwan Weighted index gained 0.7 per cent, while the Shanghai and Hang Seng added 0.2 per cent each. Kospi too was up 0.1 per cent. On the flip side, Nikkei and Straits Times declined 0.8 and 0.8 per cent, respectively.
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Markets at 12 NOONLIVE market updates: The key benchmark indices continue to consolidate in a narrow range, amid mixed trend among the index heavyweights.
The BSE Sensex was down 65 points at 60,481, and the NSE Nifty was down nine points at 18,060.
Among the Sensex 30 stocks, SBI, Mahindra & Mahindra and Bajaj Auto were up over a per cent each, while HDFC, HDFC Bank, Maruti and PowerGrid Corporation were down over a per cent each.
The broader markets continued to outperform the benchmark indices, with gains of 1 per cent and 0.8 per cent, respectively, for the BSE Midcap and Smallcap indices. The breadth too was fairly positive, with nearly two advancing shares for every declining stock.
In the broader markets, S H Kelkar and Company (SHK) zoomed 19 per cent to Rs 182 on the BSE in Tuesday’s intra-day trade after 10 per cent of total equity of personal products company changed hands via block deals. READ MOREAptech soared to a fresh 13-year high of Rs 407, up 9 per cent in intra-day trade ahead of the company’s board meet to declare Q2 earnings. READ MORE
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Markets at 11 AMLIVE market updates: Benchmark indices were trading near the day’s low as profit-booking in heavyweights like HDFC Bank, HDFC, Bajaj twins, Maruti Suzuki, and Reliance Industries kept gains in check.
At 11:03 AM, the S&P BSE Sensex was down 132 points at 60,413 levels while the Nifty50 index was at 18,039, down 40 points.
The midcaps, however, were outperforming the benchmarks by a wide margin. The BSE MidCap index was up 0.8 per cent amid gains in TVS Motors, BEL, Tata Power, Adani Power, and AB Capital.
The BSE SmallCap index, on the other hand, was up 0.6 per cent.
Primary market update: Paytm IPO has been subscribed 21 per cent so far on Day 2. Sapphire Foods’ issue has been subscribed 18 per cent so far on Day 1.
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Markets at 10 AMLIVE market updates: Benchmark indices were oscillating between gains and losses in morning deals as lack of fresh triggers on Dalal Street kept investors on the sidelines.
The BSE Sensex index was down 73 points, or 0.12 per cent, at 60,473 levels at 10 AM while the Nifty50 index held the 18,050-mark. Both the indices hit an intra-day high of 60,670 and 18,113 levels, respectively, earlier today.
16 of the 30 index constituents on the Sensex and 24 of the 50 index constituents on the Nifty were in the red.
Among sectoral trends, bank, media, FMCG, and metal indices were under pressure, down up to 0.5 per cent. On the upside, pharma and PSU bank indices were up 0.7 per cent each.
In the currency market, rupee opened 12 paise higher at 73.9 per US dollar relative to Monday’s close of 74.02/$. This is the rupee’s highest level since September 28.
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Opening Bell
LIVE market updates: Frontline indices started flat, with a negative bias, on Tuesday amid profit booking in financial, metals, and FMCG space. In early deals, the 30-pack Sensex index was at 60,531 levels, down 14 points or 0.02 per cent.
It’s NSE counterpart, Nifty50, meanwhile, was unchanged at 18,068 levels.
Divi’s Labs, ONGC, M&M, Hindalco, and Tata Motors were the top performing stocks on the 50-share index while Britannia, HDFC, HDFC Bank, Infosys, and Power Grid were the top laggards.
On the contrary, the MidCap and SmallCap indices on the BSE were up 0.6 per cent and 0.4 per cent, respectively.
Among individual stocks, TVS Motor Company surged 10 per cent in the mid-cap space amid reports that the company is evaluating the possibility of a fund raising exercise for its Electric Vehicle business.
Real estate player Sobha, too, jumped over 6 per cent after the company reported a nearly three-fold rise in its net profit to Rs 48.3 crore for the September-ended quarter, compared to Rs 16.2 crore in the corresponding year-ago period. The Bengaluru-based firm’s total income also jumped to ₹832.3 crore in the September quarter, from ₹545.9 crore during the period.
On the flipside, Ujjivan Small Finance Bank slumped 7 per cent after it reported a net loss of Rs 274 crore for the quarter ended September 30, owing to poor asset quality and higher provisions. The lender had logged a net loss of Rs 233 crore in the previous quarter. It, however, had reported a net profit of Rs 96 crore a year ago.
Overall, the market breadth was in the favour of the buyers with over 1,700 stocks advancing on the BSE compared with 740 stocks that declined on the BSE.
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Pre-open sessionLIVE market updates: Contrary to indications given by SGX Nifty, equity markets were mixed in the pre-open session. At 9:06 AM, the BSE Sensex was up 102 points at 60,648 levels while the Nifty50 was down 7 points at 18,061 level.
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(Updated at 08:10 AM)LIVE market updates: Stock-specific action, primary market activity, and global trends will guide the sentiment on Dalal Street on Tuesday.
Besides, foreign fund flows will be closely tracked as exchanges have decided to introduce T+1 settlement in a phased manner, starting from February 25, 2021, for the bottom 100 stocks only.
At 8:15 AM, SGX Nifty was down 8 pointd at 18,129.5 levels, indicating a flat start for our markets.
Primary Market Update
The One97 Communications’ Rs 18,300-crore IPO, the parent company of Paytm, was subscribed 18 per cent at the end of Day 1 of the issue.
On Tuesday, Sapphire Foods IPO, the owners of popular outlets such as KFC and Pizza Hut, will open for subscription in the price band of Rs 1,120 to Rs 1,180.
Global cues
The US markets ended higher on Monday as investors’ cheered passage of the Infrastructure bill, even as Tesla shares weighed following a Twitter poll that said Elon Musk should consider selling 10 per cent stake in the company. The Dow Jones moved up 0.3 per cent, while the S&P 500 Nasdaq added 0.1 per cent
This morning in Asia, the Nikkei was up 0.2 per cent, while the Hang Seng and Shanghai Composite indices added 0.7 per cent and 0.4 per cent, respectively. Straits Times too edged 0.1 per cent higher, and Taiwan Weighted index jumped 0.9 per cent. The S&P/ASX 200 and Kospi, however, were a wee bit in red.
