MARKET WRAP: Sensex gains 370 pts, Nifty ends at 11,787; Adani Green up 18%

All that happened in markets today.

Benchmark indices ended on a strong note on Tuesday after hitting fresh record highs in the intra-day trade on Tuesday. The S&P BSE Sensex hit a new lifetime high of 39,364.34 in the trade while the broader Nifty50 index of the National Stock Exchange (NSE) surpassed 11,800 level to hit a record of 11,810.95.

At close, the 30-share index Sensex of BSE ended at 39,276, up 370 points or 0.95 per cent while Nifty closed at 11,787, up 97 points or 0.83 per cent.

In the broader market, the S&P BSE MidCap index ended 19 points or 0.12 per cent higher at 15,521, while the S&P BSE SmallCap index closed at 15,172, up 57 points, or 0.37 per cent.

Among sectoral indices, private bank stocks gained the most, followed by financial services and auto stocks. 

BUZZING STOCKS

Jet Airways ended around 8 per cent lower at Rs 241.50 apiece on the NSE after reports suggested the airline may shut down its opeartions temporarily.

Tata Consultancy Services (TCS) hit a six-month high, extending its Monday’s 5 per cent rally on the BSE, after the company reported better than expected 2.4 per cent growth in constant currency (CC) revenue in the March 2018 quarter of financial year 2018 - 19 (Q4FY19). The stock settled at Rs 2,132 apiece on BSE, up over 1 per cent. 

Polycab India shares made a strong stock market debut by listing at Rs 633, an 18 per cent hike against its issue price of Rs 538 per share on the BSE. The stock ended at Rs 655.00, up 3.48 per cent.
 

GLOBAL CUES

Asian stocks ticked up on Tuesday, staying near a nine-month high as hopes of stabilization in the Chinese economy helped investors shrug off Wall Street’s underperformance that followed disappointing bank earnings.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent, led by gains in China and India. Mainland Chinese shares rose 1.7 per cent, partly on brisk home prices data while Japan’s Nikkei edged up 0.2 per cent.

4:08 PM

NEWS ALERT | Competition Commission approves merger of Gruh Finance with Bandhan Bank

3:45 PM

Sectoral gainers and losers on NSE

3:45 PM

Top gainers and losers on S&P BSE Sensex

3:41 PM

MARKET AT CLOSE

The S&P BSE Sensex gained 370 points or 0.95 per cent to end at 39,276, while the broader Nifty50 index of the National Stock Exchange (NSE) added 97 points or 0.83 per cent to end at 11,787. 

2:46 PM

NEWS ALERT | Mastek announces final dividend of Rs 5/share

2:45 PM

Cement stocks trade higher

COMPANY	LATEST(rs)	CHG(rs)	CHG(%)	VOLUME
INDIA CEMENTS	113.20	1.40	1.25	282366
AMBUJA CEM.	231.10	3.00	1.32	63145
PRISM JOHNSON	101.00	2.80	2.85	59553
ACC	1698.15	23.45	1.40	41125
HEIDELBERG CEM.	179.00	-1.85	-1.02	21869

2:42 PM

Nifty Realty, the only index to be in red, down by over 1%

2:35 PM

NEWS ALERT | Lupin receives USFDA approval for Fluoxetine Tablets USP

2:29 PM

NEWS ALERT | Lenders not looking at taking Jet Airways to NCLT, reports CNBC TV18 quoting Govt official

2:23 PM

Stocks that hit 52-week high on BSE500

COMPANY	PRICE(rs)	52 WK HIGH	CHG(rs)	CHG(%)
ASTRAZENECA PHAR	2290.15	2349.90	26.50	1.17
BAJAJ FINSERV	7592.20	7611.00	82.85	1.10
BATA INDIA	1433.70	1439.20	20.45	1.45
DR LAL PATHLABS	1063.50	1150.00	5.25	0.50
GILLETTE INDIA	7825.00	7906.00	49.45	0.64

2:14 PM

Mindtree Q4 preview: Commentary on L&T's takeover bid, growth guidance key

Mindtree, the midcap IT company, is slated to unveil its March quarter results of the financial year 2018-19 (4QFY19) on Wednesday. The firm is expected to deliver steady revenue growth; however, EBIT margin may see some pressure due to an increase in investments in digital talents. Management commentary on the ongoing tussle between Larsen & Toubro and Mindtree’s promoters will be be closely tracked. READ MORE

2:03 PM

NEWS ALERT | Nifty hits 11,800 for the first time

1:58 PM

Nifty Private Bank index is trading over 1.5% higher

1:48 PM

Attractive valuations, improving retail realty demand to prop PNB Housing

The stock of PNB Housing Finance fell by about 7 per cent in the last one month while its peers were up were up 2-4 per cent during that period. The former now trades at 1.6 times its FY20 estimated book value, a 58 per cent discount to its three-year average. Stake sale by the parent Punjab National Bank, when the entire sector has been reeling under liquidity issues, has also hurt investor sentiment. READ MORE

1:37 PM

Heatmap: S&P BSE Sensex