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MARKET WRAP: Sensex rallies 465 points led by IT stocks, RIL and HDFC twins

Among the sectoral indices, Nifty IT index, was the top gainer of the day, jumping 3.1 per cent led by a sharp rise in stock prices of Wipro, Infosys and TCS.

SI Reporter New Delhi

Snapping their three-session losing streak, the benchmark indices settled nearly 1.5 per cent higher on Tuesday led by gains in heavyweight stocks such as Reliance Industries (RIL), Infosys, Tata Consultancy Services (TCS), HDFC and HDFC Bank.

The S&P BSE Sensex ended at 36,318, up 465 points or 1.3 per cent, while the broader Nifty50 index settled at 10,887, up 149 points or 1.4 per cent.

Among the sectoral indices, Nifty IT index was the top gainer of the day, jumping 3.1 per cent led by a sharp rise in stock prices of Wipro, Infosys and TCS.

The broader market indices, however, underperformed their frontline peers. The S&P BSE MidCap index rose 88 points or 0.6 per cent to settle at 15,190, while S&P BSE SmallCap index gained 102 points or 0.7 per cent to end at 14,638.

The rupee traded on a weak note on Tuesday, breaching the 71-mark against the US dollar to hit 71.15 in intra-day trade. The domestic currency had closed at 70.93 against the greenback on Monday.

Buzzing Stocks

Shares of Infosys rose 3.7 per cent to Rs 727 on the BSE, extending their 2.5 per cent gain in the previous session, after the software services firm increased FY19 constant currency (CC) revenue growth guidance to 8.5-9 per cent from 6-8 per cent earlier. The company has maintained its EBIT (earnings before interest and tax) margin guidance range at 22-24 per cent.

Shares of Wipro jumped 5.6 per cent to end at Rs 331 apiece on the BSE after the information technology (IT) company announced that its board will consider bonus issue of shares in its meeting on January 17-18, 2019.

Global Markets

Asian stocks rose on Tuesday, supported by a bounce in Chinese shares amid hopes for government stimulus, while sterling braced for the vote in parliament over the British government's plan to exit the European Union. The odds look stacked against Prime Minister Theresa May winning approval for her deal.

MSCI's broadest index of Asia-Pacific shares outside Japan recovered from early losses and advanced 1.3 per cent. South Korea's Kospi hit a one-month high and Japan's Nikkei added 1 per cent. In China, the CSI300 index of Shanghai and Shenzhen shares was up 1.7 per cent amid expectations of more government policy measures to prop-up a slowing economy.

Oil Prices

Oil prices rose by around 1 per cent on Tuesday amid supply cuts led by producer club OPEC and Russia, although a darkening economic outlook may soon weigh on growth in fuel demand.

International Brent crude oil futures were at $59.62 per barrel, up 63 cents, or 1.1 per cent, from their last close. US West Texas Intermediate (WTI) crude futures were at $51.14 per barrel, up 63 cents, or 1.3 per cent.

(with Reuters input)

3:37 PM

Top sectoral gainers and losers on NSE

3:37 PM

S&P BSE Sensex: Top gainers and losers

3:35 PM

Market at close

The S&P BSE Sensex rallied 465 points or 1.30 per cent to end at 36,318 while NSE's Nifty50 index climbed 149 points or 1.40 per cent to end at 10,887.

3:15 PM

Hindustan Media Ventures' Q3 profit down 25 pc to Rs 29 cr

Hindustan Media Ventures Ltd (HMVL) Tuesday reported 25.40 per cent decline in net profit to Rs 29.16 crore for the third quarter ended December 31, 2018. The company had posted a net profit of Rs 39.09 crore in the October-December quarter of the previous fiscal, HMVL said in a BSE filing. READ MORE

2:59 PM

Top gainers on BSE500

COMPANY	PRICE()	CHG()	CHG(%)	VOLUME
IFB INDS.	933.75	114.30	13.95	6150
INFIBEAM AVENUES	47.40	4.40	10.23	3189109
GODFREY PHILLIPS	986.65	67.10	7.30	71236
J & K BANK	40.05	2.65	7.09	758930
LUX INDUSTRIES	1160.00	69.65	6.39	4865

» More on Top Gainers

2:47 PM

Foseco India zooms 20% as board to consider voluntary delisting of shares

Shares of Foseco India locked in upper circuit of 20 per cent at Rs 1,639 apiece on Tuesday after the company announced its board will meet on January 25, to consider voluntary delisting of equity shares from the BSE. “A meeting of the board of directors of the company will be held on Friday, 25 January 2019, to consider, approve and take on record the audited financial results of the company for the quarter and year ended 31 December 2018 and also to consider, if thought fit, to recommend the final dividend for the financial year ended 31 December 2018,” Foseco India said in a BSE filing today. Read more

2:34 PM

COMMENT | HDFC Securities on ICICI Securities

We are disappointed by management’s guidance of cost to income (C/I) ratio of better than 50% by FY22E and believe that being a technology driven broker, ISEC has the ability to reduce operating leverage. This becomes even more critical given the cyclicality of broking revenues. As all major segments of the business are under pressure, we downgrade stock to NEUTRAL with a target price (TP) of Rs 298 (+8.6%) based on 16x Dec-20E EPS.

2:16 PM

Brexit vote: May faces likely defeat; biggest for a British govt in 95 yrs

Prime Minister Theresa May is set to see her Brexit deal rejected in the biggest Parliamentary defeat for a British government in 95 years after her last minute pleas for support appeared to fall on deaf ears. The battle now is over not whether May loses, but how badly. At least 70 of her Conservative Party, as well as sometime allies in the Democratic Unionist Party, are publicly pledged to join opposition Members of Parliament in voting against her agreement Tuesday. That would translate into a defeat by a margin of 150 or more, the largest in over a century. Even if some abstain, a defeat by more than 100 would be the worst since 1924. Read more

2:02 PM

Market check

Index	Current	Pt. Change	% Change

S&P BSE SENSEX	36,196.63	+343.07	+0.96

S&P BSE SENSEX 50	11,353.49	+118.25	+1.05

S&P BSE SENSEX Next 50	32,703.46	+173.23	+0.53

S&P BSE 100	11,135.18	+107.88	+0.98

S&P BSE Bharat 22 Index	3,450.51	+9.08	+0.26

1:57 PM

NEWS ALERT| Infosys adds nearly Rs 10,000 cr, RIL adds Rs 20,000 cr and TCS adds Rs 15000 cr to the market cap today

1:52 PM

Top gainers and losers on S&P BSE Sensex

1:33 PM

Brexit vote today: Here's how related Indian stocks look on technical chart

As the markets brace for the Brexit vote, due later in the day today, here's a look at what the technical charts indicate for the related Indian stocks -

Infosys: The stock has crossed the major resistance of the neckline on the daily chart. The double top formation, which was witnessed during September and October last year, has neckline resistance between Rs 700 - Rs 715 levels. The current market price of Rs 725 has scaled above the neckline and immediate resistance level of Rs 713. It is heading towards the life time high of Rs 753 as the stock holds the "Gap up" rally, chart suggests.

The weekly chart suggests crossing of trendline resistance at Rs 700 with RSI (Relative Strength Index) making a positive crossover. Click here to read more

1:20 PM

Zee Entertainment trades firm ahead of Q3 results

Shares of Zee Entertainment Enterprises (ZEE) were up 3 per cent at Rs 463 apiece on the BSE in intra-day trade ahead of the October-December 2018 quarter (Q3FY19) results today.

In the past two weeks, the stock of ZEE had underperformed the market by falling 6 per cent, as compared to 0.6 per cent decline in the S&P BSE Sensex. READ MORE

1:06 PM

NEWS ALERT PNB Housing board to consider issuing NCDs of up to Rs 10,000 cr in tranches, on Jan 24, according to TV reports

1:00 PM

NEWS ALERT IFB Industries shareholding | Ashish Kacholia's name appears in shareholding pattern for October-December quarter holding 1.05% stake, reports CNBC TV18

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First Published: Jan 15 2019 | 8:13 AM IST