MARKET WRAP: Sensex ends 216 pts up, Nifty tops 11,340; HDFC Bank adds 2.6%
All that happened in the markets today
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Equity market ended firm on Wednesday, with the S&P BSE Sensex closing over 200 points higher, powered by financials and energy stocks.
The S&P BSE Sensex remained rangebound for most of the day but witnessed a late surge to end at 37,752, up 217 points or 0.58 per cent. Blue-chips like IndusInd Bank, Yes Bank, Reliance and Axis Bank were among the chief contributors. The 50-share index, Nifty50 on the National Stock Exchange (NSE) had a humbler day, but still added 41 points, or 0.4 per cent, to close at 11,341.70.
In the broader market, the S&P BSE Midcap index ended 64.91 points, or 0.43 per cent lower at 15,127.93, while the S&P BSE SmallCap index ended at 14,874.69, down 45.81, or 0.31 per cent.
BUZZING STOCKS
Among individual stocks, HDFC Bank zoomed over 2.5% to end at 2,226.10 on the back of heavy volumes. On the other hand, SpiceJet slipped more than 2 per cent to Rs 77.15 after the Directorate General of Civil Aviation (DGCA), India’s aviation regulator, grounded Boeing 737 MAX planes following the fatal crash of a plane of the same model in Ethiopia that killed 157 people.
BUZZING STOCKS
Among individual stocks, HDFC Bank zoomed over 2.5% to end at 2,226.10 on the back of heavy volumes. On the other hand, SpiceJet slipped more than 2 per cent to Rs 77.15 after the Directorate General of Civil Aviation (DGCA), India’s aviation regulator, grounded Boeing 737 MAX planes following the fatal crash of a plane of the same model in Ethiopia that killed 157 people.
Among sectoral indices, the Nifty Bank index gained 1.64 per cent higher with IndusInd Bank and Yes Bank being the top gainers. The Nifty PSU Bank index also climbed nearly 1.64 per cent led by gains in Canara Bank and J&K Bank.
GLOBAL MARKETS
Asian shares drifted lower on Wednesday as a risk-off mood settled on markets. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.45 per cent in slow trade. Japan's Nikkei led the retreat with a fall of 1.2 per cent as data showed domestic machinery orders fell in January at the fastest pace in four months.
(With inputs from Reuters))
3:54 PM
MARKET COMMENT :: Sahaj Agrawal, Kotak Securities
Nifty has given a strong breakout and is expected remain strong going ahead. Broad based participation is seen which supportive of the positive outlook. Any meaningful correction should be used an as opportunity to buy/accumulate. We believe 10,780 a strong trend support with targets seen at 11,800/12,500 going ahead. Banking, Industrials and Metal stocks are expected to outperform
3:41 PM
Sectoral gainers and losers on NSE
3:39 PM
Top gainers and losers on S&P BSE Sensex
3:37 PM
MARKET AT CLOSE
The S&P BSE Sensex gained 217 points or 0.58 per cent to settle at 37,752 while NSE's Nifty50 index ended at 11,342, up 40.50 points or 0.36 per cent.
3:25 PM
» More on Top Gainers
Top gainers on BSE500
| COMPANY | PRICE(rs) | CHG(rs) | CHG(%) | VOLUME |
|---|---|---|---|---|
| JUST DIAL | 603.70 | 48.20 | 8.68 | 666567 |
| CAPLIN POINT LAB | 433.00 | 26.10 | 6.41 | 17681 |
| MANPASAND BEVER. | 127.20 | 7.00 | 5.82 | 301153 |
| CONTAINER CORPN. | 525.10 | 23.40 | 4.66 | 70750 |
| BOMBAY DYEING | 135.00 | 5.60 | 4.33 | 1030094 |
3:16 PM
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3:04 PM
Reliance Communications dips for the sixth day; hits new low of Rs 4.82
Shares of Anil Ambani-owned Reliance Communications (RCom) were trading lower for the sixth straight day, hitting a new low of Rs 4.82, down 6 per cent on the BSE in intra-day trade in otherwise strong market. The fall comes after the lenders claimed to have the first right over income tax (I-T) refunds. In the past six trading days, RCom has dipped 27 per cent from level of Rs 6.64 on the BSE, as compared to 4 per cent rise in the benchmark index, the S&P BSE Sensex. Thus far in the calendar year 2019, it has tanked 67 per cent and plunged 82 per cent from its 52-week high of Rs 26.25 seen on March 22, 2018. READ MORE
2:51 PM
Choice Broking on Telecom industry
We expect positive changes in the industry due to its inclination towards recovery - which can be characterized by the operators focus on returns (viz. increasing ARPU) as well as their plans to pare debt (viz. asset monetization, asset sharing, fund raising, etc.). With these strategies, operators would be in a position to strengthen their countrywide 4G networks along with margins expansion. However, profits are contingent to the operators whose focus is on both ARPU expansion and maintaining the market share. On spectrum liabilities, without government support (i.e. lower spectrum prices and other levies).
2:36 PM
Blackstone Group's REIT seeks to raise $682 million in India listing
Embassy Office Parks REIT, backed by Blackstone Group, plans to raise about Rs 4,750 crore ($682 million) in India’s first real estate investment trust listing. The REIT, which includes Embassy Group properties, will offer as many as 158.6 million units at Rs 299 to Rs 300 apiece, according to terms for the deal obtained by Bloomberg. It will start taking orders from anchor investors on Friday before moving on to a public offering March 18 through March 20, the terms show. READ MORE
2:26 PM
NEWS ALERT | Indian Oil Corporation's Board to meet on March 19 to consider second interim dividend
2:25 PM
ACC, ITC: 14 stocks that look over-bought as per RSI, Stochastic indicators
After the near 800-point rally in the S&P BSE Sensex over the past two sessions, there are some stocks that appear over-bought on the technical charts as per two broad indicators - the Stochastic and the Relative Strength Index (RSI). Most traders view such stocks for booking profit or a fresh trade. GET THE FULL LIST HERE
2:20 PM
WEB EXCLUSIVE :: How a gritty Indian market has been rallying ahead of Lok Sabha elections
The benchmark Sensex and Nifty indices touched six months’ highs on Monday, with overseas investors pumping in close to $4 billion ahead of the general elections. Market participants whom Business Standard spoke to expect the rally to continue, as political uncertainty fades away with a recent opinion poll suggesting that the NDA government has an upper hand in government formation at the moment READ MORE HERE
2:18 PM
Titan valuations on higher side; investors need to be cautious
The stock of Titan Company hit its all-time high on Tuesday at Rs 1,096 apiece before closing at Rs 1,083; 1.4 per cent higher. While the gains came at a time when the broader indices are on an uptrend, investors are positive on Titan given the healthy earnings visibility. READ MORE
2:07 PM
NEWS ALERT | Asian Granito India to raise Rs 90 crore through preferential warrants issue
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First Published: Mar 13 2019 | 7:50 AM IST
