MARKET WRAP: Sensex up 288 pts, ends above 39K; mid, small-caps outperform

All that happened in the markets today

The benchmark indices ended over half a per cent higher on Tuesday, led by buying in financial counters. 

The S&P BSE Sensex ended 288 points, or 0.74 per cent higher at 39,044 levels, with IndusInd Bank (up nearly 5 per cent) being the top gainer and Titan (down around 1.5 per cent) the biggest loser. 

HDFC Bank, Reliance Industries (RIL), ICICI Bank, HDFC, and Axis Bank were the major contributors to the Sensex's gain. Of 30 constituents, 21 advanced and the rest 9 declined. 

NSE's Nifty50 ended at 11,522, up 82 points, or 0.71 per cent. India VIX dropped nearly 4 per cent to 20.39 levels. 

Meanwhile, the broader market continued to outperform the frontline indices. The S&P BSE SmallCap index settled nearly 1.5 per cent higher at 15,363.57 levels while the S&P BSE MidCap index ended at 15,015, up 127 points, or 0.85 per cent.

On the sectoral front, pharma stocks rallied the most. The Nifty Pharma index ended nearly 2 per cent higher at 11,450.50 levels. Nifty Private Bank index gained 1.85 per cent to 12,431.90 levels while Nifty Bank added 1.65 per cent to 22,466 points. On the other hand, Nifty Realty slipped the most - down over 0.7 per cent to 221 levels. 

Buzzing stocks

Shares of Adani Green Energy (AGEL) hit a fresh record high of Rs 670.65 on the BSE, thereby entering the elite club of firms with Rs 1 trillion market-capitalisation (m-cap). The firm joins the ranks of Titan Company, UltraTech Cement, Sun Pharmaceutical Industries, Larsen & Toubro (L&T), and Avenue Supermarts. READ MORE 

Hexaware Technologies advanced over 6 per cent to Rs 451 on the BSE, extending its previous day's 2 per cent gain, ahead of the closure of its delisting offer today. READ MORE  

Shares of Tata Motors Differential Voting Rights (DVRs) continued their northward movement, hitting an over six-month high of Rs 63.95, up 5 per cent in intra-day trade on the BSE. In the past six-weeks, it has rallied 63 per cent, as against 3 per cent rise in the S&P BSE Sensex. The stock settled at Rs 63.65. 

Global markets

World stocks rose on Tuesday on the back of upbeat Chinese data and optimism about novel coronavirus vaccines, as a struggling dollar kept the hot streaks for the euro and some of the biggest emerging market currencies sizzling.

In Asia, China stocks ended higher. The blue-chip CSI300 index rose 0.8 per cent to 4,688.48, while the Shanghai Composite Index gained 0.5 per cent to 3,295.68. China’s industrial output accelerated the most in eight months in August, while retail sales grew for the first time this year, suggesting the economic recovery is gathering pace.

In commodities, oil prices edged slightly higher but forecasts of a slower than expected recovery in global fuel demand due to the coronavirus pandemic weighed.

(With inputs from Reuters)

3:43 PM

SECTOR WATCH | Nifty Pharma surges around 2%

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 gained 288 points, or 0.74 per cent to settle at 39,044 levels while NSE's Nifty ended at 11,522, up 82 points, or 0.71 per cent. 

3:27 PM

China tried changing status quo along LAC, says Defence Minister Rajnath Singh

Defence Minister Rajnath Singh addresses the Parliament over the ongoing stand-off between Indian and Chinese troops along the Line of Actual Control (LAC) in eastern Ladakh. READ MORE 

3:23 PM

MARKET CHECK | Top 5 gainers on the BSE at this hour

3:18 PM

Adani Green, Ramco Systems among 275 stks that hit the upper circuit on BSE

Shares of 275 companies were frozen at their respective upper circuit limit on the BSE on Tuesday, led by smallcap counters. Adani Green Energy, Ramco Systems, Tejas Networks, Globus Spirits, Shree Pushkar Chemicals & Fertilisers, Dishman Carbogen Amcis, ADF Foods, Butterfly Gandhimathi Appliances, and Skipper were among 24 stocks from the S&P BSE Smallcap index that were locked in their respective upper circuit limit on the BSE. READ MORE

3:05 PM

Strong growth in pharmacy business saves the day for Apollo Hospitals

Going ahead, however, strong growth in the pharmacy segment, and improving prospects of hospitals business should keep sentiment elevated. The stock, which has rebounded 48 per cent since March lows, is up 1.7 per cent after results. READ MORE

2:56 PM

NBCC slips 3% as consolidated profit for June quarter plunges 88% YoY

Shares of NBCC slipped nearly 3 per cent on the BSE on Tuesday, a day after the company posted an 87.87 per cent drop in its consolidated net profit at Rs 5.93 crore for the quarter ended June 2020. The company had logged a profit of Rs 48.90 crore in the year-ago period. READ MORE  

2:47 PM

Contribution to the S&P BSE Sensex's gain today

2:41 PM

MARKET CHECK :: Sensex jumps 300 pts

2:37 PM

Sectoral trends at this hour

2:26 PM

MARKET CHECK :: Smallcaps outrun benchmarks

2:25 PM

Stocks that hit 52-week high on BSE today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
ADANI GREEN	670.65	670.65	4.99
AFFLE INDIA	3025.00	3143.00	-0.91
AMBER ENTERP.	2063.60	2114.25	5.38
APL APOLLO TUBES	2818.25	2836.95	5.26
ATUL	6770.40	6790.00	4.55

2:19 PM

Asian economy to shrink, first time since 1960s, thanks to Covid-19: ADB

The region’s gross domestic product will decline by 0.7 per cent in 2020, down from June’s projection of an increase of 0.1 per cent, the Manila-based bank said in a report Tuesday. A contraction this year would be the first since 1962, Yasuyuki Sawada, the ADB’s chief economist, said in a live-streamed briefing. READ MORE

2:11 PM

MARKET UPDATE:: Sensex at day's high