Sensex ends off day's high, up 154pts, Nifty 28pts; RIL, IT stocks gain

The broader indices lagged in trade on Monday. The BSE Midcap and Smallcap indices ended with losses of 0.9 per cent and 1.9 per cent, respectively

Closing Bell

The key benchmark indices pulled-back a wee bit in trades on Monday, even as the broader indices extended losses following Friday's heavy sell-off. Index heavyweight Reliance, IT and telecom shares witnessed buying interest, while FMCG, power and select banking and pharma shares witnessed selling pressure.

The BSE benchmark index, the Sensex, dipped to a low of 56,383 in early deals, and the rebounded and surged to a high of 57,627 - up 1,244 points from the day's low. The BSE index, which, was up over 500 point at the high's of the day eventually ended with a minor gain of 154 points at 57,261.

The NSE Nifty cracked to a low of 16,782 in opening deals, and then pulled-back to a high of 17,161. The Nifty 50 finally settled at 17,054, up 28 points.

"Domestic indices trimmed its early losses to trade modestly higher backed by IT and healthcare stocks, amid lingering worries over the emergence of the new covid variant. Global markets traded mixed as investors were torn between buying on dips and the uncertainties over the impact of Omicron on economic recovery. However, the global market has factored well the near-term uncertainty limiting further downside," said Vinod Nair, head of research at Geojit Financial Services.

Market Dashboard: Snapshot of key movers and shakers in trade today

Buzzing stocks

Kotak Bank was the top gainer among the Sensex 30 stocks, surging 2.4 per cent at Rs 2,010. HCL Technologies, Titan, TCS, Bajaj Finserv and Bajaj Finance were the other prominent gainers. Reliance Industries ended with a gain of 1.1 per cent at Rs 2,440 on the back of 21 per cent tariff hike by its telecom arm Reliance Jio.



On the flip side, Sun Pharma, Axis Bank and NTPC slipped around 2 per cent each. PowerGrid Corporation, Nestle India, Bajaj Auto, Dr.Reddy's, ITC and HDFC were the other notable losers.

In the broader markets,  Indigo Paints hit a record low of Rs 2,130 on the BSE amid concerns of weak operational performance. With today’s decline, the stock has corrected over 35 per cent from its high of Rs 3,348 touched on February 3, 2021.

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The broader indices lagged in trade on Monday. The BSE Midcap index shed 0.9 per cent, and the    Smallcap index dropped 1.9 per cent. The overall breadth too was extremely negative, with 2,433 declining stocks versus 967 advancing shares on the BSE.

Among sectoral indices, the Power index plunged 2 per cent, the Realty and Oil & Gas indices dropped 1.6 per cent each. The IT index, however, was up 0.7 per cent.
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Markets at 02:30 PM

LIVE market updates: The key benchmark indices have trimmed gains in late noon deals amid weakness in select auto and pharma shares.

The BSE Sensex was up 146 points at 57,253, and the NSE Nifty was up 28 points at 17,054. Meanwhile, the broader indices have extended losses, the BSE Midcap index has slipped 0.7 per cent, and the Smallcap index had dropped 1.5 per cent.

Index heavweights have also trimmed gains, Kotak Bank has gained more than 3 per cent. HCL Technologies, Reliance and TCS were the other major gainers. NTPC, Sun Pharma and Dr.Reddy's were the prominent losers.

Idea Cellular, ABB, Gland Pharma, IPCA Labs and Oil India were the top gainers among the Midcaps, while JSW Energy, IRCTC, IDBI, CRISIL, Whirlpool and Indian Hotel were the major losers.

Similarly, Surya Roshni, Raymond, Pilani Investment and HCL Infosys were the major gainers among the Smallcaps, up over 10 per cent each. On the other hand, Tourism Finance Corporation, Indo Count Industries, Unichem Labs, Tata Metaliks, Mangalam Organics and Heritage Foods were the major losers.

Meanwhile, the European markets have started the day on a positive note. FTSE 100 and CAC 40 have gained 0.7 per cent each, and DAX 30 was up 0.6 per cent.
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Markets at Lunch (Updated at 01:30  PM)

LIVE market updates: The key benchmark indices continue stay put in the positive zone, even as the Mdicap and the Smallcap indices lag in trade on Monday.

The BSE Sensex was up 416 points at 57,523, and the NSE Nifty had added 101 points to 17,127. Meanwhile, the BSE Midcap index was down 0.5 per cent, and the Smallcap index had shed 1.2 per cent. The overall breadth also remains fairly negative, with more than two declining shares for every advancing stock on the BSE.

Among sectoral indices, the BSE Energy index has surged 1.5 per cent led by Reliance. The IT index was up a per cent, and the Metal index gained 0.8 per cent. The BSE Power index, however, was down 2 per cent. The Realty index was the other notable loser.

Elsewhere in Asia, the markets logged losses in trade. Nikkei shed 1.6 per cent. Hang Seng, Kospi and Straits Times were down nearly a per cent each. Taiwan Weighted declined 0.2 per cent, and Shanghai ended almost flat.

As of 13:30 PM, the US futures indciated a positive start for the Wall Street. Dow Jones, S&P 500 and Nasdaq were up 0.7 - 1.2 per cent each.
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Markets at noon

LIVE market updates: Powered by a rally in banking, IT, and metal stocks, the BSE Sensex has recovered over 1,100 points from the day's low and is up 0.7 per cent in noon deals.

The BSE benchmark was at 57,517 levels, up 412 points at 12:05 PM while the Nifty50 was at 17,118. The broader markets, however, were still reeling under pressure.

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Markets at 11 AM

LIVE market update: Market bulls are trying to keep the indices afloat even as heavyweights from the financial and FMCG space are capping the upside.

The BSE Sensex index was at 57,148 level, up 40 points, while the Nifty50 was little changed at 17,032.

The volatility index, India VIX, was up 3.6 per cent and market breadth is in the favour of the sellers. Around 800 stocks are in the green on the BSE as against 2,358 stocks that are in the red.

Meanwhile, market analysts believe that the markets have overreacted to the development and a market fall from here on, if any, should be used to add to positions from a medium-to-long term perspective. READ MORE

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Markets at 10 AM

LIVE market updates: Caught between low level buying and profit-booking at higher levels, frontline indices were oscillating between gains and losses in the morning deals.

The BSE Sensex was at 57,311 levels, up 200 points at 10:05 AM, while the Nity50 was at 17,068, up 42 points.

In the broader markets, the BSE MidCap index was down 0.7 per cent and the BSE SmallCap index was down 1.7 per cent.

Individually, shares of Vodafone Idea hit a fresh nine-month high of Rs 12.39, surging 14 per cent on the BSE in Monday’s intra-day trade on back of heavy volumes. READ MORE

The volatility index, India VIX, came off highs and was up just 2 per cent.

In the currency market, the rupee opened at 74.85 per US dollar relative to Friday's close of 74.87/$

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Opening Bell

LIVE market updates: The frontline indices extended their losses in Monday's early deals amid weakness in Asian peers as investors continue to monitor developments surrounding the recently discovered omicron Covid variant. 

After opening over 400 points lower, the BSE Sensex tumbled 668 points, or 1.17 per cent, to 56,439 levels. The Nifty50, meanwhile, slipped below 16,900-mark at 16,866, down 160 points.

Reliance Industries' stock, which was up 1.7 per cent after tariff hike announcement, was limiting downside. That said, 25 other index constituents were in the red, led by SBI (2 per cent), Bajaj Auto, NTPC, HDFC, and Tech M.

In the broader markets, the BSE MidCap and SmallCap indices fell up to 3 per cent.

Among individual stocks, Paytm fell 3.6 per cent after its parent company One97 Communications reported widening of net loss at Rs 474 crore for the quarter ended September 2021. Total revenue, however, grew 64 per cent YoY to Rs 1,090 crore in the same period.

Sectorally, BSE Telecom, Healthcare and Energy indices were up over 1 per cent each.

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Pre-open session

LIVE market updates: Benchmark indices are marginally lower in the pre-open session. The BSE Sensex eased 26 points at 57,081 while the Nifty50 dipped 19 points and held above 17,000-mark.

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(Updated at 8:15 AM)

LIVE market updates: After a massive bear hammering on Friday, benchmark indices are eyeing a bounce-back rally on Monday. A 8:10 AM, SGX Nifty was up 134 points at 17,177 levels, indicating a gap-up start.

However, tepid global cues amid the spread of Omicron variant of coronavirus may keep the upside limited. Shares in Asia-Pacific largely fell in Monday trade with Hong Kong's Hang Seng index slipping about 0.3 per cent.

Japan's Nikkei 225 declined about 1 per cent earlier but was last trading around 0.2 per cent lower. The Topix index also saw a partial recovery, last dipping 0.59 per cent lower after falling more than 1 per cent earlier. South Korea's Kospi shed 0.39 per cent.

Shares in Australia also slipped as the S&P/ASX 200 fell 0.17 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan traded 0.1 per cent lower.