MARKET WRAP: Sensex climbs 482 pts, Nifty tops 11,300; Bharti Airtel up 5%

Here's a look at all that happened today in the stock market

Extending their rally, benchmark indices ended over 1 per cent higher on Tuesday, driven by gains in financials and energy counters.

The S&P BSE Sensex ended at 37,535.66, up 481.56 points while the broader Nifty50 index settled at 11,301.20, up 133 points.

Among sectoral indices, the Nifty Bank and Nifty Private Bank hit all-time highs during the intra-day trade, with ICICI Bank, IndusInd Bank being the top gainers. The indices settled at 28,443.70 and 16,257.90, respectively.

In the broader market, the S&P BSE Midcap index ended up 98 points, or 0.65 per cent higher at 15,192.84, while the S&P BSE SmallCap index ended at 14,920.50, up 158 points, or 1.07 per cent.

BUZZING STOCKS

Among individual stocks, shares of Bharti Airtel ended the day at Rs 350.50, up five per cent from its previous close. The stock of telecom services provider has surged 15 per cent in past two trading sessions, after the company said it will shed its stake in the Bharti Infratel from 50.33 per cent to 18.33 per cent.

Shares of ICICI Bank hit a record high of Rs 388 in the intra-day trade on NSE. The stock, eventually, settled at Rs 388.70 up, 12.85 per cent.

Reliance Industries (RIL), too, hit a 52-week high of Rs 1,333 apiece on BSE in the intra-day trade. The stock ended at Rs 1329.85, up over 2 per cent.

On the contrary, HDFC Life Insurance ended 5 per cent lower at Rs 370.50 apiece on NSE after Standard Life Mauritius Holdings, the joint venture partner in HDFC Life Insurance, said it was planning to sell 4.93 per cent stake, or 99.5 million shares, in the life insurance firm at a floor price of Rs 357.50 per equity share.

GLOBAL MARKETS

The pound jumped and Asian shares rallied on Tuesday after the European Commission agreed to changes in a Brexit deal ahead of a vote in the British parliament on a divorce agreement. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 1.08 per cent, with early gains reinforced by a rise in Chinese shares and oil companies, which were buoyed by higher oil prices. Australian shares were up 0.4 per cent, while Japan's Nikkei stock index jumped 1.9 per cent, helped by a weaker yen.

3:41 PM

Top sectoral gainers and losers on NSE

3:41 PM

Top gainers and losers on S&P BSE Sensex

3:38 PM

CLOSING BELL

The S&P BSE Sensex added 482 points or 1.30 per cent to end at 37,536 while NSE's Nifty50 index ended above 11,300 level at 11,301, up 133 points or 1.19 per cent. 

3:05 PM

Stock picks for 2019 by ICICI Securities

2:50 PM

YES Securities on Capacite Infraprojects (CIL)

Given that recent reforms like RERA are paving the way for consolidation in favor of large organized players, CIL stands to benefit in a big way. The value proposition should collectively ensure revenue and operating profit CAGR of 26% and 25% respectively during FY18-21E. Given >15% ROE and solid earnings

growth, valuations seem attractive at 9.4x FY21E P/E. We initiate coverage with a BUY rating for target price of Rs.330 (13x FY21E P/E).

2:48 PM

Matrimony.com zooms 43% in two days on FPI buying

Shares of Matrimony.com moved higher by 20 per cent to Rs 640, surging 43 per cent in past two trading days on the National Stock Exchange (NSE) on buying by foreign portfolio investor (FPIs). On Monday, March 11, Nalanda India Equity Fund bought 2.11 million equity shares, representing 9.3 per cent stake in Matrimony.com for Rs 108 crore. The FPI acquired shares at price of Rs 509.87 per share through open market via bulk deals on the NSE. READ MORE

2:48 PM

MARKET COMMENT :: Jyoti Roy, DVP - Research, Angel Broking

Valuations in the mid & small cap space had been beaten down significantly over the past one year and at the peak of the India Pakistan tensions they were trading at  ~10% discount to large caps which was last seen in 2013 when India was grappling with twin balance sheet problems, runaway inflation and was reeling under a currency crisis. However, macro conditions are much more stable now and structural changes are like GST, Demonitisation and RERA have set a base for very strong growth over next 3-5 years.

 

We believe that prospects of a weak Government at the center have receded significantly over the past few weeks which are being factored in by the markets. Mid & Small cap stocks are now available at very reasonable valuations and we expect them to lead the pre-election rally. In the MF space our preference would be for multi cap & mid cap funds over large cap funds

2:34 PM

Banking stocks surge

COMPANY	LATEST	PREV CLOSE	GAIN(rs)	GAIN(%)	VOLUME
INDUSIND BANK	1576.55	1514.60	61.95	4.09	6122674
ICICI BANK	386.25	375.85	10.40	2.77	28439213
KOTAK MAH. BANK	1268.30	1249.55	18.75	1.50	2546602
AXIS BANK	742.50	734.50	8.00	1.09	6318576
HDFC BANK	2150.00	2128.45	21.55	1.01	2317441
YES BANK	236.70	236.30	0.40	0.17	16792784

2:15 PM

Realty stocks surge

COMPANY NAME	LATEST	HIGH	LOW	CHG (rs)	CHG(%)	VALUE (rs CR)	VOLUME
UNITECH	1.72	1.72	1.66	0.08	4.88	0.81	4736243
INDBULL.REALEST.	82.35	84.85	77.50	5.45	7.09	16.92	2054350
NBCC	61.50	62.90	59.75	2.60	4.41	10.80	1755848
DLF	185.70	187.30	177.50	9.10	5.15	14.84	798903
NITESH ESTATES	7.31	8.23	7.05	0.45	6.56	0.49	676113

2:00 PM

Market check

1:57 PM

NEWS ALERT | JSW Steel's February crude steel production down by 6% to 12.57 lakh tonnes

1:52 PM

Heatmap: S&P BSE Sensex

1:43 PM

Bharti Airtel surges 15% in two days on stake sale plan in Bharti Infratel

Shares of Bharti Airtel were trading higher for the second straight day, up 6 per cent at Rs 354 on the BSE on Tuesday. The stock of telecom services provider has surged 15 per cent in past two trading sessions, after the company said it will shed its stake in the Bharti Infratel from 50.33 per cent to 18.33 per cent.

Nettle Infrastructure Investments, a wholly-owned subsidiary of Bharti Airtel, will buy a 32 per cent stake or 591.87 million equity shares in the telecom tower company. READ MORE

1:34 PM

Sectoral trends on NSE

1:25 PM

NEWS ALERT | Deep Industries bags order worth Rs 92 crore from ONGC