Market snaps 9-day losing streak; Sensex jumps 227 pts, Nifty over 11,200
All that happened in the markets today
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Benchmark indices snapped their nine-day losing streak, helped by gains in Reliance, ITC. and State Bank of India, to end Tuesday's volatile session with gains.
The S&P BSE Sensex ended the day 228 points, or 0.61 per cent, higher at 37,319, with Sun Pharma, Bharti Airtel, Vedanta, IndusInd Bank, and State Bank of India among the top gainers. While Sun Pharma gained nearly 6 per cent, the rest of the above-mentioned counters moved up 2.3 per cent to 5.4 per cent. Of the 30 BSE constituents, 16 ended in the green.
The broader Nifty50 index finished 74 points, or 0.66 per cent, higher at 11,222. About 897 stocks advanced and 875 shares declined on the NSE.
Among sectoral indices, the Nifty PSU Bank index made the maximum gain, up almost 3 per cent, while Nifty Pharma index also rose 1.5 per cent. Nifty IT index ended the day in red, down 1.2 per cent.
In the broader market, the S&P BSE MidCap index rose 88 points, or 0.62 per cent, at 14,213, while the S&P BSE SmallCap index was up 42 points, or 0.30 per cent, at 13,844 level.
BUZZING STOCKS
Shares of Tata Steel traded lower for the ninth straight day on Tuesday, down 0.39 per cent on the BSE, at Rs 462.75 apiece. The stock has been falling ever since concerns over the European Commission's (EC) likely rejection for the proposed joint venture between the company's European arm and ThyssenKrupp surfaced. READ MORE
Jet Airways (India) slumped 7.42 per cent to Rs 129.10 on the BSE on Tuesday on a news report that Etihad Airways had put in stiff conditions in its bid that includes substantial write down of the Rs 9,000-crore loan. READ MORE
The broader Nifty50 index finished 74 points, or 0.66 per cent, higher at 11,222. About 897 stocks advanced and 875 shares declined on the NSE.
Among sectoral indices, the Nifty PSU Bank index made the maximum gain, up almost 3 per cent, while Nifty Pharma index also rose 1.5 per cent. Nifty IT index ended the day in red, down 1.2 per cent.
In the broader market, the S&P BSE MidCap index rose 88 points, or 0.62 per cent, at 14,213, while the S&P BSE SmallCap index was up 42 points, or 0.30 per cent, at 13,844 level.
BUZZING STOCKS
Shares of Tata Steel traded lower for the ninth straight day on Tuesday, down 0.39 per cent on the BSE, at Rs 462.75 apiece. The stock has been falling ever since concerns over the European Commission's (EC) likely rejection for the proposed joint venture between the company's European arm and ThyssenKrupp surfaced. READ MORE
Jet Airways (India) slumped 7.42 per cent to Rs 129.10 on the BSE on Tuesday on a news report that Etihad Airways had put in stiff conditions in its bid that includes substantial write down of the Rs 9,000-crore loan. READ MORE
GLOBAL MARKETS & OIL
Fresh volleys in the US-China tariff war pressured Asian shares on Tuesday, but comments from US President Donald Trump that he expects trade negotiations to be successful eased some worries.
MSCI’s broadest index of Asia-Pacific shares outside Japan was down 1.1 per cent on Tuesday afternoon. The index had earlier fallen as much as 1.25 per cent to its lowest since January 30.
MSCI’s broadest index of Asia-Pacific shares outside Japan was down 1.1 per cent on Tuesday afternoon. The index had earlier fallen as much as 1.25 per cent to its lowest since January 30.
Brent crude futures were at $70.40 a barrel, up 38 cents or 0.24 per cent. US West Texas Intermediate (WTI) crude futures were at $60.92 per barrel, down 12 cents or 0.2 per cent.
(With inputs from Reuters)
3:42 PM
Sectoral trend on NSE
3:41 PM
Gainers and losers of the day on S&P BSE Sensex
3:40 PM
Market at close | NSE Nifty rises 74 points to close at 11,222
3:40 PM
Market at close | BSE Sensex closes 228 points higher at 37,318.53
3:27 PM
SRF surges 12% from day's low; stock hits new high of Rs 2,621
SRF shares hit a new high of Rs 2,621, up 6 per cent, in intra-day trade on the National Stock Exchange (NSE), after the company reported 54 per cent year-on-year (YoY) jumped in consolidated net profit at Rs 191 crore in March quarter, on the back of healthy revenue growth. The consolidated revenue grew 29 per cent at Rs 2,072 crore on YoY basis. The stock of has bounced back 12 per cent from its intra-day low of Rs 2,335 on the NSE. It surpassed its previous high of Rs 2,614 hit on May 2, 2019. READ MORE
3:16 PM
Vedanta rises almost 5%
2:57 PM
Vodafone Idea hits new low, trades near rights issue price of Rs 12.5
Shares of Vodafone Idea hit a new low of Rs 13 apiece, plummeting 10 per cent intra-day on the National Stock Exchange (NSE) on Tuesday, due to heavy volume trade. The stock of the telecom services provider was trading close to its rights issue price of Rs 12.50 per share. READ MORE
2:55 PM
Whatsapp confirms spyware attack, urges users to install latest version
A security flaw in WhatsApp, one of the most popular messaging apps in the world, allowed sophisticated attackers to install spyware on phones, the company said Tuesday, in the latest trouble for its parent Facebook. The vulnerability -- first reported by the Financial Times, and fixed in the latest WhatsApp update -- allowed hackers to insert malicious software on phones by calling the target using the app, which is used by 1.5 billion people around the world. READ MORE
2:49 PM
NEWS ALERT | Indian Bank FY18 gross NPA divergence at Rs 178.5 cr
2:47 PM
NEWS ALERT | Indian Bank's Q4FY19 NII at Rs 1,763.4 cr
2:47 PM
NEWS ALERT | Indian Bank reports a loss of Rs 190 cr in Q4FY19
2:45 PM
Market check
2:44 PM
Market check | Sensex up over 400 points
2:42 PM
Bharti Airtel is trading over 6% higher
2:40 PM
HDFC Securities on Vinati Organics
Last close: Rs 1,743
Target price: Rs 2,034
Recommendation: Buy
The company reported another strong quarter with sales jump of 39.5%YoY to Rs 2.96bn driven by volume growth 20%+ in ATBS. Sales in IBB that were impacted by the closure of the BASF plant in 3QFY19 resumed taking volumes and is expected to normalise in ensuing quarters.
Target price: Rs 2,034
Recommendation: Buy
The company reported another strong quarter with sales jump of 39.5%YoY to Rs 2.96bn driven by volume growth 20%+ in ATBS. Sales in IBB that were impacted by the closure of the BASF plant in 3QFY19 resumed taking volumes and is expected to normalise in ensuing quarters.
ATBS plant capacity augmentation from 26ktpa to 40ktpa will be completed by the end of 2QFY20 with a capex of Rs 1.1bn. We expect volume growth at ~20% CAGR over FY20-22E based on growth in global demand coupled with a shortage in supply.
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First Published: May 14 2019 | 7:16 AM IST
