Domestic indices extended gains backed by a strong rally in IT and pharma midcap stocks. Pressure of the upcoming earnings season kept the investors on the edge which capped further gains, but dipping India VIX value indicates that volatility expectations are falling and that investors are not unduly worried.
3:47 PM
Sctoral trend
All but Nifty Realty and Nifty FMCG settled in green.
Source: NSE
3:44 PM
Nikhil Kamath, Co-Founder and Head of Trading, Zerodha
Global markets continued to move up and provided considerable support to the overall market. Domestic money continued to gush in as well, adding further impetus to the market. The rupee seems to be strengthening again which is positive for the overall sentiment. Sector wise, Pharma and Banking held up for the session whereas oil marketing companies and FMCG underperformed. Midcap indices outperformed with nearly 200 stocks hitting fresh 52 week highs on the BSE.
Overall, we remain cautious on the markets and would not advise taking fresh positions at this juncture.
3:42 PM
Market breadth
The market breadth, indicating the overall health of the market, was strong. On BSE, 1,587 shares rose and 1,135 shares fell. A total of 124 shares were unchanged.
3:40 PM
Sensex heatmap at close
3:37 PM
Broader markets outperform
The BSE Smallcap index added nearly 1%, while the BSE Midcap index gained 0.6%.
3:36 PM
Markets at close
The S&P BSE Sensex ended at 31,924, up 77 points, while the broader Nifty50 closed at 10,019, up 31 points.
3:26 PM
Top five Nifty gainers in last leg of trade
Source: NSE
3:20 PM
Buzzing stock
Cochin Shipyard surged 10% to Rs 568 on the National Stock Exchange (NSE) after the company bagged an order worth Rs 5,400 crore from the Indian Navy.
“The company has received communication from the Ministry of Defence (Navy) that the company has emerged as the L1 bidder for 16 X ASW SWC Project for the Indian Navy,” Cochin Shipyard said in a statement. READ FULL REPORT
3:06 PM
MCX gets Sebi nod for gold options
The Multi Commodity Exchange (MCX) has received the Securities and Exchange Board of India's (Sebi's) approval for the launch of gold option contracts with 1 kg gold futures the underlying commodity. In a circular, the exchange said that the date for launching options in gold would be announced separately but traders expect it to start trading around Diwali time. READ MORE
2:55 PM
Buzzing stock
Biocon moved higher by over 5% to Rs 363 on BSE in noon deals after the company said the US Food and Drug Administration (USFDA) has issued a Complete Response Letter (CRL) for proposed Biosimilar Pegfilgrastim. READ MORE
2:47 PM
How diamonds can become 'the new gold' for investors
Diamonds can at last be an investor's best friend, the Singapore Diamond Investment Exchange (SDIX) said on Tuesday, as it launched a new standardised form of the precious stones to rival gold ingots as a safe-haven alternative to cash. READ FULL REPORT
2:21 PM
Broader markets
Broader markets continued to trade strong with the BSE Midcap and the BSE Smallcap gaining 0.5% and 0.6%, respectively.
2:02 PM
Markets check
At 2:00 pm, the Sensex was trading at 31,937, up 90 points, while the broader Nifty50 was ruling at 10,017, up 28 points.
1:51 PM
Tata Tele, RCom, Dena Bank hit 52-week lows
Tata Teleservices (Maharashtra) dipped 15% to Rs 4.25, extending its 18% decline of the last three trading sessions, after the media reports suggested that Tata Teleservices is likely to shut down its operations this month. The stock is trading close to its all-time low of Rs 4 touched on March 26, 2013 on the BSE. READ MORE
The benchmark indices settled higher on Tuesday, with Infosys gaining after its shareholders approved a buyback plan while Lupin rose after winning US approval for its hypertension drug.
However, broader gains were limited as investors hedged their bets before corporate results kick in this week. Software bellwether Tata Consultancy Services reports on Thursday and index heavyweight Reliance Industries on Friday.
The July-September earnings will be viewed as a gauge to determine whether the current high valuations hold ground after a record-setting rally this year.
Overseas, world shares ground out a fresh record high, making it almost 50 for the year, although Europe tread cautiously as markets waited to see whether Spain’s Catalonia region would push for independence later in the day.
Japan and South Korea returned from extended breaks to give Asia a lift, but the Catalan uncertainty meant it was a lower start for the euro zone’s main bourses and for Spanish bond markets.
 "Sensex gains 77 points, Nifty ends above 10,000 on positive global cues")
