MARKET WRAP: Indices gain for 2nd day, Sensex rises 350 pts; HUL surges 5%

All that happened in markets today

Buying in FMCG, metals, financials and auto counters along with positive global cues helped equity market settle in the green for the second day in a row on Wednesday. The S&P BSE Sensex rallied 350 points or 0.85 per cent to end at 41,566 while NSE's Nifty50 settle at 12,201, up 93 points or 0.77 per cent.

FMCG giant Hindustan Unilever (HUL) zoomed over 5 per cent to end at Rs 2,262 apiece on the BSE. It was the top gainer on the Sensex. The stock hit a fresh 52-week high of Rs 2,271 during the day. HUL’s m-cap stood at Rs 4,89,464 crore (Rs 4.89 trillion).

ICICI Bank, Reliance Industries (RIL), HDFC Bank, Infosys, and TCS were the other major contributors to the index's gains. 

Broader market, on the other hand, underperformed frontline indices. The S&P BSE MidCap index slipped 47 points or 0.29 per cent to close at 15,789 levels while the S&P BSE SmallCap index lost 13 points or 0.09 per cent to settle at 14,737.

Among the sectoral indices on the NSE, Nifty FMCG gained the most - up nearly 2 per cent to 30,986 points, followed by Nifty Metal and Nifty Auto indices. 

GLOBAL MARKETS 

Global share markets nudged higher on Wednesday amid hopes the worst of the coronavirus in China may have passed, although prevailing uncertainty about the outbreak kept investors wary. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.9 per cent while Chinese shares reversed early losses to trade up 0.41 per cent.

Shares in Hong Kong rose 0.9 per cent to a three-week high. Australian shares were up 0.47 per cent, while Japan's Nikkei stock index rose 0.53 per cent. Euro Stoxx 50 futures were up 0.05 per cent, German DAX futures were up 0.08 per cent, and FTSE futures were up 0.13 per cent.

Oil prices extended gains as China reported its lowest daily number of new coronavirus cases since late January, stoking investor hopes that fuel demand in the world’s second-largest oil consumer may begin to recover from the epidemic.

(With inputs from Reuters)

4:05 PM

MARKET COMMENT | Vinod Nair, Head of Research, Geojit Financial Services

Investors' appetite for risk improved as coronavirus concerns receded for the second day in a row. The impact of coronavirus has already affected the supply chains and factory activities across the globe, but the ground reality is improving in China and we can expect improvement in the next quarter. The domestic market is awaiting the January inflation and consensus show a spike in inflation which is expected to impact rate-sensitive stocks.

3:53 PM

SECTOR WATCH | Top gainers and losers on the NSE

3:53 PM

MARKET AT CLOSE | Top gainers and losers on the S&P BSE Sensex

3:39 PM

CLOSING BELL

The S&P BSE Sensex rallied 350 points or 0.85 per cent to settle at 41,566 while NSE's Nifty50 index ended at 12,201, up 93 points or 0.77 per cent.

3:25 PM

MARKET CHECK | Top gainers on the BSE at this hour

3:10 PM

MARKET CHECK

2:51 PM

Heatmap: S&P BSE Sensex

2:34 PM

Contribution to S&P BSE Sensex's gain today

2:27 PM

Nifty sectoral indices at this hour

2:24 PM

Global Markets check

Global share markets nudged higher on Wednesday amid hopes the worst of the coronavirus in China may have passed, although prevailing uncertainty about the outbreak kept investors wary. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.9 per cent while Chinese shares reversed early losses to trade up 0.41 per cent.

 

Shares in Hong Kong rose 0.9 per cent to a three-week high. Australian shares were up 0.47 per cent, while Japan's Nikkei stock index rose 0.53 per cent.

 

Euro Stoxx 50 futures STXEc1 were up 0.05 per cent, German DAX futures were up 0.08 per cent, and FTSE futures were up 0.13 per cent.

In commodities, oil futures, which have been in a downtrend since the start of the year, rose in Asia from 13-month lows due to budding optimism about the virus and hopes that output cuts by major producers will support prices.

 

2:13 PM

Rupee check

2:03 PM

RESULTS CORNER:: Hindalco Q3 consolidated net profit down 23.8% YoY at Rs 1,062 cr

-- Revenue down 12.1% at Rs 29,197 crore

 

1:58 PM

BROKERAGE RADAR | Centrum Broking on Bajaj Consumer Care

Considering weak revenue growth, persistent category headwind and weak demand outlook we cut revenue/ earnings estimates for FY20E/FY2E by 6-9 per cent / 12-16 per cent and introduce FY22 estimates. We maintain Buy rating with revised TP of Rs 303 (earlier Rs 387), implying PE 16.2x FY22E EPS.

1:55 PM

BUZZING STOCK | PC Jeweller jumps over 15%

1:47 PM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(%)	VOLUME
VODAFONE IDEA	4.53	-6.98	40077110
RELIANCE POWER	1.80	-4.76	11108142
SUZLON ENERGY	2.45	-9.93	6185829
YES BANK	35.10	-4.75	5093232
INDIABULLS HOUS.	330.15	-4.30	2379355