Sensex leaps 1,163 pts from the day's low, ends 581 pts up; Nifty tops 16K
CLOSING BELL: The winners included Indian Oil Corporation, Sun Pharma, Tata Consumer Products, TCS, Cipla, Shree Cement, NTPC, Tech M, Dr Reddy's Labs, Wipro, Ultratech Cement, and Infosys
 "Market LIVE: Sensex at day's high, up 550 pts; Nifty tops 16,000")
CLOSING BELL
Bulls sprinted past the finish line in fag-end of the session as an across-the-board rally swept the markets. This came despite the global markets exhibiting a mixed trend on the bourses and commodity prices, including Brent crude futures, staying at elevated levels. Markets closed higher for the first time in five days.
The S&P BSE Sensex index surged 1,163 points from the day's low of 52,261 to end at 53,424 levels. This was 581 points or 1.1 per cent higher than the index's previous close.
On the NSE, the Nifty50 shut shop at 16,013, up 150 points or 0.95 per cent. The index had hit a low of 15,671 in the intra-day trade.
About 24 of the 30 Sensex constituents and 37 of the 50 Nifty constituents ended the session with gains on Tuesday. The winners included Indian Oil Corporation, Sun Pharma, Tata Consumer Products, TCS, Cipla, Shree Cement, NTPC, Tech M, Dr Reddy's Labs, Wipro, Ultratech Cement, and Infosys. All these stocks were up in the range of 2-4.4 per cent.
On the downside, Hindalco, ONGC, Tata Steel, JSW Steel, Britannia, Titan, and UPL slipped up to 4.5 per cent on profit booking.
The broader markets, meanwhile, edned with solid gains and outperformed their large-cap peers. The BSE MidCap and SmallCap indices added 1.45 per cent and 1.33 per cent, respectively.
Among individual shares, shares of city gas distribution (CGD) companies, Indraprastha Gas (IGL) and Mahanagar Gas (MGL), rallied up to 11 per cent in the intra-day trade on Tuesday amid reports of IGL announcing a hike in prices of compressed natural gas (CNG) in the Delhi-NCR region. The prices have been hiked by 50 paise per kilo in Delhi while Re 1 per kilo in the NCR region, as per reports. READ MORE
Shares of sugar companies were in demand and rallied up to 18 per cent on the BSE in Tuesday's intra-day trade on strong outlook. With a favourable mix of ethanol towards B-heavy/juice (feedstock) coupled with higher sugar realisations; operating margins of sugar companies are expected to improve. READ MORE
Shares of Natco Pharma rallied 9 per cent to Rs 920 on the BSE in Tuesday’s intra-day trade after the company launched its first generic version of Revlimid (Lenalidomide capsules) in 5 mg, 10 mg, 15 mg, and 25 mg strengths in the US market. Natco, along with marketing partner Teva, has launching these strengths of lenalidomide. READ MORE
Among sectors, the Nifty Realty index advanced 3.25 per cent today, the Nifty PSB and IT index rose nearly 3 per cent each, and the Nifty Pharma index was up 2.4 per cent. On the flipside, the Nifty Metal index slipped 1.5 per cent.
Global markets
Asian markets ended on a weak note on Tuesday with Japan's Nikkei sliding 1.7 per cent, South Korea's Kospi 1 per cent, and Hong Kong's hang Seng 1.4 per cent.
European markets, however, were trading higher. Euro STOXX 600 index was up 0.8 per cent, Germany's DAX 1.2 per cent, France's CAC40 2 per cent. The UK's FTSE100 was down 0.02 per cent.
Futures linked to the US' main indices gained up to 0.1 per cent.
4:08 PM
Technical View: Rupak De, Senior Technical Analyst at LKP Securities
Markets witnessed a spectacular recovery as Nifty closed more than 300 off days low. On the daily chart, a bullish engulfing pattern has formed which suggests short term positive reversal. On the higher end, the index may move towards 16200/16400 over the short term. On the lower end, 15800 is likely to act as support.
3:55 PM
Market view: Vinod Nair, Head Of Research at Geojit Financial Services
Domestic indices reversed its trend and traded with gains led by export-oriented sectors like Pharma and IT which witnessed buying interest as the rupee fell to its record lows. Favorable exit poll results of state election and low-level buying seen in mid and small caps also helped in adding optimism in the domestic market. Major western markets were also trading in the green while other Asian peers continued to trade in negative territory on fear of the impact of global inflationary pressure due to the ban on Russia’s oil export.
3:53 PM
Asian Paints sees breather, closes in green
3:45 PM
Closing bell: Over 1,400 stocks advanced while 602 declined
3:41 PM
Closing bell: Pharma stocks in the pink of health
3:34 PM
Closing bell: Sun pharma, TCS drive Sensex with over 3% gains
3:33 PM
Closing bell: Over 500 points recovery for BSE Sensex
3:31 PM
Closing bell: Tuesday turnaround in markets as Nifty 50 floats above 16,000
3:23 PM
Closing cues: Only 5 out of 30 BSE Sensex stocks in red
3:21 PM
Closing cues: Realty stocks gather steam; Sobha soars past 8%
3:19 PM
Closing cues: Majority sectors swim in green; Metal stocks bleed
3:16 PM
Nifty 50 stages late recovery, reclaims 16,000 levels
3:11 PM
Sensex firms up in fag-hours, rises over 500 pts; Infy, TCS climb 3% and 2%
2:57 PM
Shipping Corp says war in Ukraine needs to abate for stake sale to move
“Globally markets are facing impact of the crisis, I don’t think this is the right opportune moment,” Shipping Corp. Chairperson and Managing Director Harjeet Kaur Joshi said in an interview to Bloomberg Television on Tuesday. The performance of the market will “majorly” drive the timing for the divestment, she said, adding that is not the government’s view. READ MORE
2:42 PM
Global markets :: European markets tick up in early deals
Source: Reuters
Topics : Sensex MARKET LIVE MARKET WRAP Markets Nifty BSE NSE Dish TV Brent crude Russia Ukraine Conflict stock markets SGX Nifty Natco Pharma Ami Organics Future Group
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First Published: Mar 08 2022 | 8:09 AM IST
