Market Wrap, Nov 19: Sensex gains 186 pts, Nifty50 ends at 11,940 levels

Benchmark indices ended with nearly half a per cent gains on Tuesday amid buying in counters such as Reliance Industries (RIL), Bharti Airtel, Axis Bank, HDFC Bank, and Infosys. Besides, PSU bank stocks continued to rally post the Supreme Court judgement on Essar Steel resolution in favor of financial creditors.

The S&P BSE Sensex added 186 points or 0.46 per cent to settle at 40,470. With over 7 per cent gain, Bharti Airtel emerged as the biggest gainer on the index while YES Bank (down over 2.50 per cent) was the top loser. Of 30 stocks, 11 ended in the green and rest 19 in the red.

On the NSE, the broader Nifty50 index ended at 11,940 levels, up 57 points or 0.47 per cent.

Volatility index India VIX slipped over 2 per cent to 15.42 levels. 

In the broader market, the S&P BSE MidCap index lost 7 points or 0.05 per cent to end at 14,830 whereas the S&P BSE SmallCap index added 42 points or 0.31 per cent to settle at 13,405.

Market breadth was in favour of declines as out of 2,732 companies traded on the BSE, 1,387 declined and 1,154 advanced while 191 remained unchanged.

Sectorally, PSU bank stocks rallied the most with the Nifty PSU Bank index surging around 4 per cent to 2,589. Nifty Bank rose nearly 1 per cent to 31,236 levels. On the flip side, metal, FMCG and auto stocks slipped during the day. 

Buzzing stocks of the day:

Reliance Industries (RIL) on Tuesday became the first Indian company to cross the market capitalisation of Rs 9.50 trillion after the company's stock rallied nearly 4 per cent intra-day to hit a fresh all-time high of Rs 1514.95 on the BSE. The stock ended at Rs 1509.80, up 3.50 per cent. 

Vodafone Idea and Bharti Airtel zoomed in the trade after the two firms announced they will hike tariffs, starting December 1. Shares of Bharti Airtel ended at Rs 439 on the BSE, up over 7 per cent while Vodafone Idea settled 35 per cent higher at Rs 6 apiece on the BSE. 

Shares of public sector banks (PSBs) continued to be in focus with most of the names rallying more than 10 per cent on Tuesday, extending their past two days' gain after the Supreme Court judgement on Essar Steel resolution in favor of financial creditors. 

Shares of SBI Life Insurance Company ended over 6 per cent lower at Rs 936 on the BSE after reports said 3.37 crore shares or 3.4 per cent equity worth Rs 3,222 crore of the company traded in multiple block deals at an average price of Rs 945 per share.  

Global markets: 

Asian share markets were mixed in subdued trade on Tuesday, pending clearer news on whether US-China negotiations will reach a preliminary accord to end the prolonged trade war between the world’s two largest economies. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent, with Shanghai blue chips gaining 0.6 per cent and Hong Kong’s Hang Seng up 1 per cent.

In commodities, oil prices fell for the second straight day.