MARKET WRAP: Sensex gains 358 pts, Nifty tops 11,050 mark led by metals, IT

All that happened in the markets today

The frontline indices settled around 1 per cent higher on Wednesday led by the gains in Reliance Industries (RIL), ICICI Bank, Infosys, TCS and Bajaj Finance.  

The S&P BSE Sensex ended at 36,975, up 358 points or 0.98 per cent, while the broader Nifty50 index settled at 11,062, up 128 points or 1.17 per cent.

Among the sectoral indices, Nifty Metal index settled 2.34 per cent higher led by Steel Authority of India (SAIL) and Jindal Steel and Power. Also, the Nifty IT index ended 2.01 per cent higher led by gains in Tech Mahindra and Infibeam Avenues.

However, the broader market indices underperformed their benchmark peers. The S&P BSE MidCap index ended 17 points or 0.12 per cent lower at 14,425, while S&P BSE SmallCap settled at 13,668, up 6 points or 0.05 per cent..

BUZZING STOCKS

Shares of Reliance Industries (RIL) settled 1.52 per cent higher at Rs 1,310 apiece on BSE. In the past 17 trading days, RIL outperformed the market by surging nearly 20 per cent from Rs 1,096 on January 14, 2019, after the company reported a better-than-expected consolidated net profit of Rs 10,251 crore in October-December quarter (Q3FY19).  

Shares of SRF jumped 10.75 per cent to settle at Rs 2,239 apiece on BSE after the company reported a strong set of numbers for the quarter ended December 2018 (Q3FY19).
 

GLOBAL MARKETS

Asian shares were subdued on Wednesday after US President Donald Trump's State of the Union address failed to give markets fresh trading catalysts. MSCI's broadest index of Asia-Pacific shares outside Japan was barely changed with China and several other markets in the region still closed for the Lunar New Year holiday. 

(with Reuters input)

3:50 PM

MARKET COMMENT Jayant Manglik, President, Religare Broking

The bulls continued to dominate, as the equity benchmark indices registered fifth straight session of gains, largely on hopes of a dovish RBI monetary policy tomorrow. We remain cautiously optimistic on the markets in the near term. Tomorrow’s RBI monetary policy will provide further direction to the markets.

The recent softening in CPI inflation, disappointing IIP numbers and US Fed’s signal to slow the pace of interest rate hikes have built-in expectations of a rate cut or a change in policy stance in tomorrow’s RBI monetary policy meeting.

We feel the commentary on the outlook of interest rates will hold significance. Further, with more results scheduled in the next couple of weeks, stock specific volatility will remain high. Globally, crude oil price and INR-USD movement would continue to remain on market radar. With indices likely to exhibit high volatility in near term, traders should avoid risky leveraged positions

3:37 PM

Sectoral gainers of the day on NSE

3:35 PM

Gainers and losers of the day on S&P BSE Sensex

3:33 PM

Market at close

The S&P BSE Sensex ended at 36,975, up 358 points or 0.98 per cent, while the broader Nifty50 index settled at 11,062, up 128 points or 1.17 per cent.

3:15 PM

Reliance Industries nears record high; gains 20% in 17 trading days

Shares of Reliance Industries (RIL) were trading2 per cent higher at Rs 1,317 on Wednesday, their all-time high level of Rs 1,329 touched on August 29 last year on the BSE in intra-day trade. In the past 17 trading days, RIL has outperformed the market by surging 20 per cent from Rs 1,096 on January 14, 2019, after the company reported a better-than-expected consolidated net profit of Rs 10,251 crore in October-December quarter (Q3FY19). In comparison, the S&P BSE Sensex was up 3 per cent during the same period. READ MORE

3:02 PM

WEB EXCLUSIVE Nifty50 reclaims 11,000 levels. Will the up move sustain?

The Nifty50 index reclaimed 11,000 levels in intra-day trade on Wednesday, a feat it last achieved on October 1, 2018. The recent rally has been on account of positive news-flow and better-than-expected financial performance in a handful of stocks that comprise the index. Sector-wise, stocks from the information technology (IT), private banks and select non-bank finance companies, besides heavyweights Reliance Industries, Larsen & Toubro (L&T), Hindustan Unilever (HUL) have been the major contributors. READ MORE

2:52 PM

SPECIAL REPORT :: Knight Frank Real Estate Sentiment Survey

The current sentiment score inched upwards and remains in the positive in last quarter of 2018. The slight improvement in the current score indicates that the dust has started to settle from the implementation of various structural reforms implemented in the second and third quarter of 2017. The score indicates that the stakeholders though positive but are in a wait and watch mode on the outcome of the long-term policy initiatives of the government.

On the other hand, the optimism regards the future of the real estate sector has come down by three points. Factors such as the looming uncertainty over the upcoming elections has reflected in the future sentiment score.

(Image source: Knight Frank Survey)

2:48 PM

Top gainers and losers on S&P BSE Sensex

2:33 PM

Stocks that hit 52-week high on NSE

Symbol	Security	New 52W/H	Prev. High	Prev. High Date	LTP	Prev. Close	Chng	% Chng
AXISBANK	Axis Bank Limited	734.50	731.60	05-Feb-2019	723.30	729.50	-6.20	-0.85
AXISGOLD	Axis Mutual Fund - Axis Gold ETF	2,930.00	2,930.00	05-Feb-2019	2,930.00	2921.90	8.10	0.28
DIVISLAB	Divi's Laboratories Limited	1,645.00	1,637.00	05-Feb-2019	1,636.85	1616.15	20.70	1.28
INFY	Infosys Limited	766.95	762.50	04-Feb-2019	762.50	754.85	7.65	1.01
LALPATHLAB	Dr. Lal Path Labs Ltd.	1,125.00	1,122.00	29-Aug-2018	1,087.30	1051.85	35.45	3.37
MAHASTEEL	Mahamaya Steel Industries Limited	109.45	107.95	05-Feb-2019	109.00	107.05	1.95	1.82
SEAMECLTD	Seamec Limited	349.95	314.00	25-Jul-2018	292.45	295.80	-3.35	-1.13
SPCENET	Spacenet Enterprises India Limited	1.00	1.00	04-Feb-2019	0.90	.95	-0.05	-5.26
TECHM	Tech Mahindra Limited	810.90	780.80	03-Oct-2018	807.40	751.00	56.40	7.51

2:22 PM

STOCK IMPACT

Adani Power down 5%

2:19 PM

NEWS ALERT

Adani Power reports Q3 net loss at Rs 1,180.78 crores vs net loss of Rs 1,313.74 crores year ago

2:12 PM

SoftBank Group unveils $5.5 billion stock buyback, third-quarter profit soars 60 per cent

Japan's SoftBank Group Corp announced a $5.5 billion share buyback on Wednesday as it reported a 60 per cent rise in quarterly operating profit buoyed by rising valuations for its technology investments.

 

SoftBank Group said it would repurchase 112 million shares worth 600 billion yen ($5.5 billion) in the next 11 months, or about 10.3 percent of its total outstanding shares, excluding treasury stock. READ MORE

2:02 PM

MARKET CHECK

1:51 PM

Asian equities receive biggest foreign inflows in a year in January

Foreigners were net buyers of Asian shares in January, data from seven exchanges showed, on hopes the U.S. Federal Reserve would go slow with its monetary tightening measures this year and the trade talks would unwind some tariffs, bolstering world trade.

 

Foreigners net bought stocks worth $5.9 billion last month, the highest since a $7.1 billion inflow in January 2018, data from South Korea, Taiwan, India, Thailand, the Philippines, Indonesia and Vietnam showed. READ MORE

1:38 PM

Top losers on BSE500

COMPANY	PRICE(rupees)	CHG(rupees)	CHG(%)	VOLUME
RELIANCE INFRA.	164.30	-62.90	-27.68	4526731
MEGHMANI ORGAN.	45.95	-4.00	-8.01	345663
TATA CHEMICALS	597.25	-49.70	-7.68	230307
RELIANCE CAPITAL	140.75	-11.40	-7.49	4057197
T.V. TODAY NETW.	330.25	-19.35	-5.53	2029