MARKET WRAP: Sensex up 227 pts, mid-cap rally continues; metal stocks gain

All that happened in the markets today

Bulls held their reigns for the second consecutive day on Friday, as markets decisively stayed in the positive territory after a mild blip in the early morning trade. Pre-budget rally and decent Q3FY20 results throughout the day were the biggest factors driving the markets today. Banking counters were leading the charge from the front with HDFC twins, ICICI Bank, Kotak Mahindra Bank, and Axis Bank being the top contributors of the gains today. 

The benchmark S&P BSE Sensex surged 421 points off day's low to hit an intra-day high of 41,697.03. At close, the Sensex settled at 41,613.19 level, up 226.79 points or 0.55 per cent. UltraTech Cement, L&T, Tech Mahindra, and Kotak Mahindra Bank were the top gainers on the 30-share index, while Power Grid, IndusInd Bank, TCS, and Reliance Industries were the top laggards. 

On the NSE, the Nifty50 reclaimed the 12,250-mark in the intra-day trade today and hit a high of 12,272.15. The 50-share index ended 67.90 points, or 0.56 per cent, higher at 12,248.25 mark. Sectorally, all the key indices settled in the positive territory barring Nifty IT and Pharma indices. Nifty Metal index settled 1.02 per cent higher, followed by Nifty Financial Services index (up 0.9 per cent) and Nifty Bank index (up 0.8 per cent).

Broader markets continued their outperformance on Friday as well, with the S&P BSE mid-cap index hitting its fresh 52-week high in the intra-day trade today. At close, the index was at 15,826.57 level, up 0.8 per cent. The S&P BSE small-cap index, meanwhile, settled 0.5 per cent higher at 14,848.49.

GLOBAL MARKETS

European shares gained on Friday as the World Health Organization stopped short of calling the virus outbreak in China a global emergency, with focus turning to flash PMI readings from major economies in the region.

After four consecutive sessions of declines, the pan-European STOXX 600 climbed 0.8 per cent by 1:40 pm. Germany's DAX rose the most among regional peers.

Meanwhile, Asian shares steadied today in holiday-thinned trade for the Lunar New Year. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.12 per cent, while Japan's Nikkei gained 0.13 per cent and Australian stocks added a marginal 0.04 per cent.

Trade in Asia was already slowing down for the Lunar New Year holiday, with financial markets in mainland China, Taiwan and South Korea closed on Friday. Hong Kong's Hang Seng ended up 0.15 per cent, trading for a half-day due to the holiday.

(With inputs from Reuters)

3:44 PM

Nifty snapshot at close

3:43 PM

Sensex heatmap at close

3:42 PM

Closing Bell

>> At close, the S&P BSE Sensex settled at 41,613.19 level, up 226.79 points or 0.55 per cent.

>> The NIfty50 index ended 67.90 points, or 0.56 per cent, higher at 12,248.25 mark.

3:18 PM

Oil marketing companies to take on RIL with e-discounts, cashbacks

Two state-run oil marketing companies are offering discounts on digital transactions at their petrol outlets. Representatives of the fuel retail industry see it as a sign of competition from the recently announced Jio-BP venture. READ MORE

3:06 PM

BSE Midcap index hits 52-wk high; AU Small, ICICI Securities at new highs

AU Small Finance Bank, ICICI Securities and Indraprastha Gas (IGL) from the midcap index hit their respective all-time highs in the intra-day trade today. While, Amara Raja Batteries, MRF, Page Industries, Tata Chemicals, Torrent Power and Voltas touched their 52-week highs. READ MORE

2:48 PM

NEWS ALERT | The government is discussing multiple options on personal income tax cut in Budget 2020: CNBC TV18

2:44 PM

Heatmap: S&P BSE Sensex

2:26 PM

Global Markets check

European shares gained on Friday as the World Health Organization stopped short of calling the virus outbreak in China a global emergency, with focus turning to flash PMI readings from major economies in the region.

After four consecutive sessions of declines, the pan-European STOXX 600 climbed 0.8 per cent by 0804 GMT. Germany's DAX rose the most among regional peers.

Asian shares steadied on Friday in holiday-thinned trade for the Lunar New Year. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.12 per cent, while Japan's Nikkei gained 0.13 per cent and Australian stocks added a marginal 0.04 per cent.

 

Trade in Asia was already slowing down for the Lunar New Year holiday, with financial markets in mainland China, Taiwan and South Korea closed on Friday. Hong Kong's Hang Seng ended up 0.15 per cent, trading for a half-day due to the holiday.

2:16 PM

BSE500 stocks that hit 52-week high today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(rs)	CHG(%)
AMARA RAJA BATT.	807.75	811.25	16.80	2.12
AMBER ENTERP.	1371.15	1378.25	6.15	0.45
APL APOLLO	2039.70	2070.00	28.80	1.43
ATUL	4507.05	4564.00	123.60	2.82
AU SMALL FINANCE	1019.90	1032.15	45.15	4.63

2:06 PM

ICICI Bank Q3 preview: Essar Steel recovery may trim provisions, aid profit

For private lender ICICI Bank, one-time gain from Essar Steel resolution would be the biggest factor driving the bank’s December quarter earnings for FY20 (Q3FY20). On the back of an estimated recovery worth over Rs 2,000 crore, the bank is likely to see provision write-off, stable slippages, and improved credit cost. At the bourses, the bank has outperformed the indices during the quarter under review. Between October and December, 2019, the stock of the lender surged 24.3 per cent, as against a 6.68 per cent rise in the benchmark S&P BSE Sensex. READ MORE

2:04 PM

RESULTS CORNER:: Ultratech consolidated Q3 net profit up 90.2% at Rs 711.3 cr vs 374.1 cr (YoY)

-- Standalone net profit at Rs 643.2 cr

-- Standalone revenue at Rs 9,981.8 cr

-- Standalone Ebitda margin at 17.9%
 

-- Othe income at Rs 164 cr

 

1:42 PM

MARKET UPDATE:: Sensex up 200 points, at day's high now

1:41 PM

MARKET UPDATE:: Nifty reclaims 12,250

1:34 PM

Broader markets continue good run, outperform benchmarks

1:27 PM

Rupee check