Market Wrap, April 13: Here's all that happened in the markets today

Breaking away from a range-bound trade, the benchmark indices zoomed over 1 per cent in the last-hour of trade on Tuesday amid broad-based buying after the union government said that it is speeding up emergency approvals for foreign-made vaccines that have been granted emergency use authorisation in other countries amid alarming spike of coronavirus infections across India.

This comes after the Centre approved a third vaccine -- Russia's Sputnik V -- for emergency use authorisation.

Barring the Nifty IT and Pharma indices, which ended over 3 per cent and 1 per cent lower, respectively on the back of profit-booking, all other sectoral indices ended the day in the green.

While the Nifty PSU Bank index surged 4 per cent after nursing a 9 per cent cut on Monday, the Nifty Bank, Private Bank, Financial Services, Metal, Auto, and Realty indices gained between 3 per cent and 4 per cent. The Nifty FMCG index, meanwhile, ended 0.6 per cent higher.

Among the frontline indices, the BSE barometer Sensex jumped 661 points, or 1.4 per cent, to settle the day at 48,544 levels. In the intra-day deals, the index had hit a high and low of 48,627 and 47,775, respectively.

On the NSE, the Nifty50 index closed the day at 14,505 levels, adding 194 points or 1.36 per cent. The index's high and low of the day were 14,529 and 14,275, respectively.

M&M, Bajaj Finserv, Tata Motors, Bajaj Finance, Maruti Suzuki, HDFC, and JSW Steel were the top gainers on the Nifty, up in the range of 4 per cent to 8 per cent, while Dr Reddy's Labs, TCS, Tech M, Wipro, HCL Tech, Britannia, and Divis Labs were the top drags, down up to 4 per cent.

Mood in the broader market too remained upbeat. The S&P BSE MidCap index gained 1.46 per cent with IDBI Bank, Bank of India, Federal Bank, L&T Finance Holdings, IDFC First Bank, SAIL, and Shriram Transport Finance soaring between 5 per cent and 9.5 per cent.

The S&P BSE SmallCap index, on the other hand, ended 1.2 per cent higher.

Buzzing Stocks

Shares of information technology major Tata Consultancy Services tumbled 5.1 per cent to Rs 3,074.55 apiece on the BSE in the intra-day deals as investors booked profit in the counter. Even as TCS reported its highest-ever order book in a quarter, at $9.2 billion, and a 15 per cent rise in net profit at Rs 9,246 crore, analysts feel the stock is trading at premium valuations and has factored-in most of the positives. The stock ended 4.2 per cent lower on the BSE today.

Shares of public sector lender Bank of Maharashtra, meanwhile, surged 20 per cent to hit an intra-day high of Rs 27.3 apiece on the BSE on Tuesday after over 3 million shares changed hands on the counter in multiple block deals. By close, the stock 18 per cent higher at Rs 27 per cent as against a 1.4 per cent gain in the benchmark Sensex index. About 3.2 million shares changed hands on the counter on the BSE till 3:30 pm in multiple block deals.

Shares of IDBI Bank also jumped 10.6 per cent to hit an intra-day high of Rs 37.40 on the BSE after a Business Standard report stated that the Cabinet will soon consider the proposal to sell the government’s 45.5 per cent stake in the company, paving the way for strategic divestment in the lender.

Shares of Adani Ports fell 6 per cent to Rs 702 on the BSE after S&P Dow Jones Indices said it has removed the company from its sustainability index due to the firm’s business ties with Myanmar’s military which is accused of human rights abuses after a coup this year.

Global markets

Global stocks ticked up on Tuesday as China's exports in dollar terms rose 30 per cent YoY and imports rose 31 per cent, boosting confidence for a rebound in its domestic demand. Besides, market players awaited US data which expected to show a pick-up in inflation.

The broad Euro STOXX 600 gained 0.3 per cent to near record highs, with export-heavy German shares up 0.2 per cent. Indexes in Paris and London shares fell 0.1 per cent.

In Asia, Japan's Nikkei added 0.7 per cent, South Korea's Kospi gained 1 per cent, but China's CSI300 index fell 0.16 per cent.

Note: Domestic equity markets shall remain closed on Wednesday, April 14, on account of Baba Saheb Ambedkar Jayanti holiday