MARKET WRAP: Sensex ends 216 pts up, Nifty tops 11,340; HDFC Bank adds 2.6%

All that happened in the markets today

Equity market ended firm on Wednesday, with the S&P BSE Sensex closing over 200 points higher, powered by financials and energy stocks.

The S&P BSE Sensex remained rangebound for most of the day but witnessed a late surge to end at 37,752, up 217 points or 0.58 per cent. Blue-chips like IndusInd Bank, Yes Bank, Reliance and Axis Bank were among the chief contributors. The 50-share index, Nifty50 on the National Stock Exchange (NSE) had a humbler day, but still added 41 points, or 0.4 per cent, to close at 11,341.70.

In the broader market, the S&P BSE Midcap index ended 64.91 points, or 0.43 per cent lower at 15,127.93, while the S&P BSE SmallCap index ended at 14,874.69, down 45.81, or 0.31 per cent.

BUZZING STOCKS

Among individual stocks, HDFC Bank zoomed over 2.5% to end at 2,226.10 on the back of heavy volumes. On the other hand, SpiceJet slipped more than 2 per cent to Rs 77.15 after the Directorate General of Civil Aviation (DGCA), India’s aviation regulator, grounded Boeing 737 MAX planes following the fatal crash of a plane of the same model in Ethiopia that killed 157 people.

Among sectoral indices, the Nifty Bank index gained 1.64 per cent higher with IndusInd Bank and Yes Bank being the top gainers. The Nifty PSU Bank index also climbed nearly 1.64 per cent led by gains in Canara Bank and J&K Bank.

GLOBAL MARKETS

Asian shares drifted lower on Wednesday as a risk-off mood settled on markets. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.45 per cent in slow trade. Japan's Nikkei led the retreat with a fall of 1.2 per cent as data showed domestic machinery orders fell in January at the fastest pace in four months.

(With inputs from Reuters))

3:54 PM

MARKET COMMENT :: Sahaj Agrawal, Kotak Securities

Nifty has given a strong breakout and is expected remain strong going ahead. Broad based participation is seen which supportive of the positive outlook. Any meaningful correction should  be used an as opportunity to buy/accumulate. We believe 10,780 a strong trend support with targets seen at 11,800/12,500 going ahead. Banking, Industrials and Metal stocks are expected to outperform

3:41 PM

Sectoral gainers and losers on NSE

3:39 PM

Top gainers and losers on S&P BSE Sensex

3:37 PM

MARKET AT CLOSE

The S&P BSE Sensex gained 217 points or 0.58 per cent to settle at 37,752 while NSE's Nifty50 index ended at 11,342, up 40.50 points or 0.36 per cent.

3:25 PM

Top gainers on BSE500

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
JUST DIAL	603.70	48.20	8.68	666567
CAPLIN POINT LAB	433.00	26.10	6.41	17681
MANPASAND BEVER.	127.20	7.00	5.82	301153
CONTAINER CORPN.	525.10	23.40	4.66	70750
BOMBAY DYEING	135.00	5.60	4.33	1030094

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Choice Broking on Telecom industry

We expect positive changes in the industry due to its inclination towards recovery - which can be characterized by the operators focus on returns (viz. increasing ARPU) as well as their plans to pare debt (viz. asset monetization, asset sharing, fund raising, etc.). With these strategies, operators would be in a position to strengthen their countrywide 4G networks along with margins expansion. However, profits are contingent to the operators whose focus is on both ARPU expansion and maintaining the market share. On spectrum liabilities, without government support (i.e. lower spectrum prices and other levies). 

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ACC, ITC: 14 stocks that look over-bought as per RSI, Stochastic indicators

After the near 800-point rally in the S&P BSE Sensex over the past two sessions, there are some stocks that appear over-bought on the technical charts as per two broad indicators - the Stochastic and the Relative Strength Index (RSI). Most traders view such stocks for booking profit or a fresh trade. GET THE FULL LIST HERE

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2:18 PM

Titan valuations on higher side; investors need to be cautious

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