MARKETS: Indices end at record closing peaks; Nifty settles above 13,000

All that happened in the markets today

Continuing their gaining streak, the benchmark indices ended 1 per cent higher on Tuesday amid across-the-board buying. 

The S&P BSE Sensex rallied 446 points, or 1 per cent to settle at a fresh closing high of 44,523 levels. During the day, the index hit a high of 44,601.63 levels. On similar lines, NSE's Nifty breached the psychological level of 13,000 to settle at 13,055, up 129 points, or 1 per cent. 

Volatility index, India VIX, gained over a per cent to 21.05 levels.

HDFC Bank, ICICI Bank, Axis Bank, and Reliance Industries (RIL) were the major contributors to the Sensex's gain today. Axis Bank (up 4 per cent) was the biggest gainer on the index while HDFC (down nearly 1.5 per cent) was the top loser. 

In the broader market, the S&P BSE MidCap index ended 0.58 per cent higher at 16,739 levels while the S&P BSE SmallCap index gained 0.89 per cent to 16,550 points.

On the NSE, all the sectoral indices ended in the green. Nifty Bank surged 713 points, or 2.46 per cent to 29,737 levels. 

Global markets

Stocks gained on Tuesday as the formal go-ahead for US President-elect Joe Biden to begin his transition added to an already brighter mood from progress made on Covid-19 vaccines and the prospects for a speedy global economic revival.

European markets appeared set to extend optimism in Asian and US equities, with Euro Stoxx 50 futures and FTSE futures up 0.52 per cent and 0.42 per cent, respectively.

China stocks, however, closed lower as investors booked profits following recent strong gains.

In commodities, Brent crude prices hit their highest levels since March while gold hit a four-month low as investors deserted the safe-haven metal on hopes for the vaccine. 

(With inputs from Reuters)

3:43 PM

Nifty Bank jumps 713 points

3:42 PM

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

3:36 PM

CLOSING BELL

The S&P BSE Sensex ended at 44,523 levels, up 446 points, or 1 per cent while NSE's Nifty closed above13,000 levels at 13,055, up 129 points, or 1 per cent. 

3:29 PM

MARKET CHECK

3:23 PM

Top losers on the BSE at this hour

3:12 PM

Expert View :: B Gopkumar, MD & CEO, Axis Securities

Indian economy is recovering well. Credit growth also has started picking up. Electricity consumption, PMI, GST collections, and Eway bill data has been quite encouraging. With the road map for vaccination clearing, the economy will be back to full steam in 2021. The prospects ahead look quite encouraging as demand across sectors has started to look promising. The reset has had challenges, but it has also brought forth good opportunities, and corporates across the country are gearing to cash on them. So, even though markets are at an all-time high, but the risk to rewards still appear promising for the patient long term investors

3:06 PM

Select base metals may continue to rally in 2021 over weakening dollar

With stimulus packages being announced across the globe amid the Covid-19 pandemic, base metals are seen benefiting from the same. Copper, zinc and nickel have been rallying for the last 8 months as a broad-based weakening of the dollar made commodities cheaper for holders of other currencies. Besides, supply constraints from the pandemic-hit Latin American nations provided support to the metals, said brokerages. READ MORE

2:57 PM

Recovery from intra-day lows in today's session

COMPANY	DAY'S LOW(RS)	DAY'S HIGH(RS)	LATEST(RS)	RISE(%)
SUNTECK REALTY	288.30	342.30	321.70	11.59
NAVA BHARAT VENT	46.70	52.20	52.00	11.35
VA TECH WABAG	184.10	204.15	202.00	9.72
BOSCH	11801.70	13300.00	12910.00	9.39

2:47 PM

Nifty Bank index gains over 600 points

2:46 PM

BUZZING STOCK | RBL Bank surges 7%

2:40 PM

Heatmap: S&P BSE Sensex gainers and losers at this hour

2:34 PM

Auto stocks in focus; M&M, Eicher Motors hit fresh 52-week highs

Shares of automobile companies were in focus at the bourses on Tuesday, with individual stocks rising up to 6 per cent. The Nifty Auto index, meanwhile, climbed as much as 2.25 per cent intra-day to 8,935 level and was the top sectoral gainer. In comparison, the Nifty50 index was trading 0.95 per cent higher, at 2 PM. Among individual stocks, Mahindra & Mahindra gained 5.67 per cent to Rs 745.50, its fresh 52-week high, while Eicher Motors also hit its 52-week high level of Rs 2,715 on the NSE. READ MORE

2:23 PM

BROKERAGE VIEW | HDFC Securities on FMCG sector

Within the FMCG universe, Dabur, Britannia, GCPL, Radico, Emami, and Nestle outperformed, clocking revenue growth of 14/12/11/11/11/10% YoY respectively. Growth in packaged food and hygiene moderated, although it continued to remain strong, following reduced fear among consumers and easing of restrictions. Discretionary demand witnessed substantial sequential improvement as increased economic activity and more instances of going out lifted sentiments. Rural growth has been ahead of urban due to lower restrictions, migration of labour & capital and healthy agri economy. We expect rural will remain strong in 2HFY21. However, we remain cautious and selective within the sector due to the unfavourable medium-term risk-reward, given modest absolute growth relative to expectations and valuations. Despite defensive characteristics, we are underweight on the sector in our model portfolio. We recommend BUY on ITC and ADD on UNSP, Colgate and Radico.

 

2:17 PM

Expert View :: Bhavin Mehta, VP – Derivatives Strategist, Dolat Capital

Strong flow from FIIs helps Nifty move past the 13k mark, the journey of the last 1000 points in just 14 trading sessions. A bit of concern comes from India Volatility Index that has moved past 21 now and no immediate major event.

Remain Long till Nifty holds 12700 marks expect fresh unmoved on close above 13100 marks towards 13350 marks.

 

We have seen a slight decline in roll cost on the back of MSCI adjustment early fresh series. Thus, all in all, concerns remain only with VIX that has seen a sharp uptick without any foreseeable major event in the near term.

 

Participants believe the recent rally led by MSCI flows however, it has been across EMs and not just India. Dollar Index will be something to watch out for further aggression on flows from foreign participants. Sectors that led to BUYING recently: Metals, Banking, Financials, and Auto as we saw IT, Pharma and FMCG taking a back seat.

 

2:08 PM

NIFTY HITS HIGH OF 13,059