Metal, auto and banking sector stocks led the rally on the domestic bourses triggered by a rebound in global stocks, with the barometer index, the S&P BSE Sensex, reclaiming the psychologically important 24,000 mark. The Sensex surged 474.56 points or 1.98% at 24,436.77, as per the provisional closing data. The 50-unit Nifty 50 index gained 145.65 points or 2% at 7,422.45, as per the provisional closing data. The Sensex and the Nifty traded in positive zone throughout the trading session after opening with upward gap. The broad market depicted strength.
The Sensex jumped 510.67 points or 2.13% at the day's high of 24,472.88 in late trade, its highest level since 19 January 2016. The barometer index rose 157.83 points or 0.65% at the day's low of 24,120.04 in early trade. The Nifty gained 156.60 points or 2.15% at the day's high of 7,433.40 in late trade, its highest level since 20 January 2016. The index rose 50.80 points or 0.69% at the day's low of 7,327.60 in morning trade.
The broad market depicted strength. There were more than three gainers against every loser on BSE. 2,045 shares gained and 612 shares fell. A total of 164 shares were unchanged. The BSE Mid-Cap index was provisionally up 1.9%, underperforming the Sensex. The BSE Small-Cap index was provisionally up 2.25%, outperforming the Sensex.
The total turnover on BSE amounted to Rs 3488 crore, higher than turnover of Rs 3007.27 crore registered during the previous trading session.
In overseas stock markets, European stocks extended strong gains registered during the previous trading session triggered by prospect of further monetary stimulus for the eurozone economy. European Central Bank (ECB) President Mario Draghi yesterday, 21 January 2016, signaled at a news conference that the ECB governing council may provide more stimulus at its next meeting in March, noting that the outlook for inflation had weakened significantly. The ECB left its key interest rates unchanged after a monetary policy review.
US stock index futures pointed at further gains for US stocks. Trading in US index futures indicated that the Dow Jones Industrial Average could gain 202 points at the opening bell today, 22 January 2016. US stocks edged higher yesterday, 21 January 2016, as oil prices bounced back.
More From This Section
Earlier during the global day, Japan and Hong Kong led gains in Asian stocks triggered by hints of more stimulus from European Central Bank (ECB) President Mario Draghi. In Japan, the Nikkei 225 Average closed 5.88% higher. In Hong Kong, the Hang Seng index rose 2.9%.
Auto stocks edged higher on renewed buying. Tata Motors (up 3.19%), Maruti Suzuki India (up 5.39%), Bajaj Auto (up 2.3%), Hero MotoCorp (up 5.11%), TVS Motor Company (up 4.34%), Eicher Motors (up 5.56%) and Ashok Leyland (up 2.75%) gained.
Mahindra & Mahindra (M&M) rose 5.06%. M&M during market hours today, 22 January 2016, announced the launch of its mHawk new 1.99 litre diesel engine. The new engine would be available for customers within the Delhi and NCR Region to begin with, M&M said. The new 1.99 litre engine will power the New Generation Scorpio and will deliver 120 HP while for the New Age XUV500, it will deliver 140 HP, it added.
Idea Cellular fell sharply after the company's third-quarter earnings fell short of street estimates. The stock lost 6.01% to Rs 107.05. The stock hit a low of Rs 105.60 in intraday trade, which is a 52-week low for the counter. The stock hit a high of Rs 115 in intraday trade. The company's consolidated net profit fell 0.37% to Rs 764.21 crore on 10.92% rise in total income to Rs 9040.48 crore in Q3 December 2015 over Q3 December 2014. The net profit was dragged down by sharp fall in other income to Rs 30.79 crore in Q3 December 2015 from Rs 132.62 crore in Q3 December 2014. The EBITDA (earnings before interest, taxation, depreciation and amortization) margin improved 0.4% on year-on-year basis at 34.7% in Q3 December 2015. The result was announced after market hours yesterday, 21 January 2016.
IndusInd Bank rose 2.3%. IndusInd Bank during market hours today, 22 January 2016, announced that the board of directors of the bank has approved, in principle, a Sponsored Level 1 American Depository Receipt Programme (ADR 1) of 10 million Depository Receipts (DRs) against 20 million equity shares of the bank. The Sponsored ADR is a non-capital raising programme and is subject to receipt of detailed regulatory guidelines in the matter, IndusInd Bank said.
Powered by Capital Market - Live News