Monday, December 23, 2024 | 01:01 PM ISTEN Hindi

MARKET WRAP: Sensex ends 182 pts higher; RIL up 2.5%, Sun Pharma climbs 6%

All that happened in markets today.

SI Reporter New Delhi

Bulls continued to be in the driver's seat on Wednesday amid buying in index heavyweights such as Reliance Industries (RIL), IndusInd Bank, Sun Pharma, L&T, and HDFC Bank.

The S&P BSE Sensex climbed 182 points or 0.45 per cent to settle at 40,652 with Sun Pharma (up around 6 per cent) being the top gainer. During the day, the index hit a fresh lifetime high of 40,816.38 levels; however, the index cooled off later. On the NSE, the broader Nifty50 index ended at 11,999, up 59 points or 0.49 per cent.

In the broader market, the S&P BSE MidCap index gained over 37 points or 0.25 per cent to end at 14,868 and the S&P BSE SmallCap closed at 13,414.43 levels, up 10 points or 0.07 per cent.

Sectorally, pharma stocks gained the most on the NSE, followed by media counters. The Nifty Pharma index surged over 3 per cent to 8,108 levels. The Nifty Media index, too, rallied over 3 per cent to 1,863 levels.

BUZZING STOCKS

Continuing its upswing, Reliance Industries (RIL) on Wednesday hit a fresh lifetime high of Rs 1,571 apiece on the BSE, up 4 per cent, thus nearing Rs 10 trillion market capitalisation (m-cap). On Tuesday, RIL became the first Indian company to cross the m-cap of Rs 9.50 trillion. The stock ended at Rs 1,547, up nearly 2.50 per cent.

Shares of public sector banks (PSBs) traded higher for the fourth straight day, after the Supreme Court's decision on Essar Steel resolution came in favor of the financial creditors.

Shares of select public sector undertaking (PSUs) rallied up to 20 per cent on the BSE after the Government gave ‘in-principle’ approval for strategic disinvestment of 28 Central Public Sector Enterprises (CPSEs) with sale of majority stake of Government of India and transfer of management control. The list included names such as Hindustan Petroleum Corporation (HPCL) and Dredging Corporation of India. READ MORE

GLOBAL MARKETS

Asian shares slipped on Wednesday as investors rushed to safe-haven assets after Sino-US trade talks produced nothing encouraging, while concerns about a supply glut left oil prices nursing their biggest one-day loss in seven weeks.

The mood in share markets was sombre with MSCI's broadest index of Asia-Pacific shares outside Japan off 0.7 per cent. Japan's Nikkei fell 0.8 per cent and Shanghai blue chips 0.5 per cent.

E-Mini futures for the S&P 500 shed 0.2 per cent and EUROSTOXX 50 futures 0.2 per cent.

In commodities, oil prices slipped for a third day on supply and trade war fears.

(With inputs from Reuters)

4:04 PM

MARKET OUTLOOK | Vinod Nair, Head of Research, Geojit Financial Services

Market traded higher ahead of the cabinet meeting due today to discuss on divestment and continued strong buying in index heavyweights lead by pharma and banking stocks. Fresh worries surfaced over US –China trade tensions but domestic market maintained positive momentum. Government’s plan to divest PSU stake to help maintain the fiscal deficit target in check.

4:03 PM

SECTOR WATCH | Top gainers and losers on the NSE

4:02 PM

Top gainers and losers on the S&P BSE Sensex

3:41 PM

CLOSING BELL

The S&P BSE Sensex added 182 points or 0.45 per cent to end at 40,652 while NSE's Nifty50 index ended 59 points or 0.49 per cent higher at 11,999 levels.

3:25 PM

Tata Steel at day's low

3:09 PM

MARKET CHECK | PVR at day's high

2:53 PM

Promoter of J Kumar Infra acquires additional 0.4% stake from open market

2:53 PM

Working on resolution plan, have submitted restructuring proposal: Suzlon

Wind-turbine maker Suzlon Energy on Wednesday said the company is working on a resolution plan and lenders have time till January next year to work on a sustainable resolution plan before taking any extreme steps.

"The company is continuously working on a resolution plan with the lenders and has also submitted a restructuring plan, which envisages segregating total debt into sustainable debt and unsustainable debt," Suzlon Energy said in a filing to BSE in response to a clarification sought by the bourse on a news item. READ MORE

2:41 PM

NEWS ALERT | Cube Highway, IRB Infra, NIIF submit bids for ToT-III: sources to CNBC TV18

-- NHAI had put up 9 projects, totalling 566.27 kilometers

-- Highway projects spread across states like Uttar Pradesh, Bihar, Jharkhand, Tamil Nadu

-- NHAI looking to raise a minimum of Rs 4,995 crore

2:25 PM

Top losers on BSE500 today

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
RELIANCE CAPITAL	18.05	-0.95	-5.00	32978
INDIABULLS INTEG	66.50	-3.50	-5.00	1253
RELIANCE POWER	3.43	-0.18	-4.99	4684461
RELIANCE INFRA.	33.25	-1.70	-4.86	176003
MAGMA FINCORP	37.15	-1.55	-4.01	6756

» More on Top Losers

2:11 PM

MARKET CHECK:: Sensex off day's high

1:56 PM

Nifty Pharma index hits two-month high; Sun Pharma surges 7%

Shares of pharmaceutical companies were trading higher for the fourth straight day, with Nifty Pharma index hitting a two-month high after 7 per cent rally in share price of Sun Pharmaceutical. At 01:01 pm, Nifty Pharma index, the largest gainer among sectoral indices today, was up 3.5 per cent at 8,122 points. The pharma index was quoting at its highest level since September 13, 2019. In comparison, the Nifty 50 index was up 0.69 per cent at 12,023 points. READ MORE

1:41 PM

Stocks that hit 52-week high on BSE500 today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(rs)	CHG(%)
ADANI GREEN	98.35	100.50	2.15	2.23
BHARTI AIRTEL	436.90	452.95	-2.35	-0.54
DIVI'S LAB.	1788.80	1797.00	56.20	3.24
DLF	212.45	218.55	-2.75	-1.28
ESSEL PROPACK	149.00	154.50	1.40	0.95