MARKETS: Sensex leaps 895 pts from day's low, settles 453 pts up at 46,007

4:10 PM

Tech View :: Sumeet Bagadia, Executive Director, Choice Broking.

After a gap up opening, the benchmark index showed downside movement in the first half of the session and made an intraday low at 13192 but saw a sharp pull back in the second half to close at 13466.30 levels up by 137.90 points or 1.02%. On the sectoral front, Nifty IT & Pharma has shown strength and closed higher by over 2%. On Four Hourly Chart, Nifty has formed a bullish Engulfing Candlestick Pattern which suggests upside movement in the benchmark index. Moreover, Nifty has taken support from 21 DMA and closing above it and sustaining the same would suggest a further upside movement. Daily Momentum Indicator RSI has also bounced from 55 level and closed at 60.90 levels which points to a positive breadth in the benchmark index. At current level, Nifty has support at 13150 levels while resistance comes at 13550 levels.

 

 

3:54 PM

TECH VIEW :: Ashis Biswas, Head of Technical Research, CapitalVia Global Research

The Market witnessed some lackluster movement after the recent correction. Nifty 50 Index is still holding above the support level of 13100, Our research suggests trading above 13,100 is key to keep the long-term positive trend intact. Any move below 13,100 levels, we expect the correction to gain momentum, which could lead to a downside projection till 12,900-12,910 level. The momentum indicators like RSI, MACD to recover after staying neutral to bearish in recent time.

3:53 PM

MARKET CLOSING COMMENT :: Vinod Nair, Head of Research at Geojit Financial Services

Market took an unexpected positive momentum in the afternoon, during a see-saw trading day, following the positive opening of the European market, which recovered from yesterday’s sell-off. The sectorial rally was led by IT and Pharma stocks with other sectors also supporting the up move. Volatility is expected to stay high in the near-term due to strict lockdown impacting economic recovery. However, the market is expected to remain bullish in the medium to long term, backed by overall progress in economic activity in 2021

3:53 PM

MARKET CLOSING COMMENT :: S Ranganathan, Head of Research at LKP Securities

Buoyed by Global Cues, the Bulls were back in afternoon trade as IT stocks led the charge well supported by Pharma stocks. Given the spirited pull back rally seen today, it would be interesting to see how the tussle pans out tomorrow to gauge the broader market breadth

3:48 PM

Market breadth in favor of advances

3:47 PM

Infosys, TCS, HCL Tech contribute nearly 250 pts in Sensex's 450-pts rally

3:45 PM

Sectoral trends on NSE :: Investors pick defensives, IT, pharma shine

3:43 PM

Sensex Heatmap :: IT stocks lead from the front

3:36 PM

CLOSING BELL

>> The benchmark S&P BSE Sensex rebounded 895 points from day's low and settled 453 points, or 0.99 per cent, higher at 46,007 levels on the BSE.

>> The broader Nifty50, on the other hand, clawed back above the 13,400-mark and closed at 13,466 level, up 138 points or 1.03 per cent.

3:30 PM

TTK Prestige eyes 15-18% growth, aims to double capacity by FY21-end

The company is now looking to double its capacity by end of fiscal and scouting for acquisitions in India and abroad. The company has also set a target of achieving Rs 5,000 crore in the next four years, while for the current fiscal the company expect around 15-18 per cent growth in revenue. READ MORE

3:19 PM

IT shares gain up to 6%; Nifty IT, Infosys scale fresh record highs

Infosys, HCL Technologies, Tech Mahindra, Larsen & Toubro Infotech, Coforge and Mindtree were up in the range of 3 per cent to 6 per cent on the NSE. Tata Consultancy Services (TCS), Wipro and Mphasis gained between 1 per cent and 2 per cent. READ MORE

3:11 PM

Top gainers on BSE at this hour

3:00 PM

Securitisation volumes to get back on growth track in FY22: Icra

The rating agency said increase in securitisation volumes for the rest of FY21 an in FY2022 would be supported mainly by growing investor confidence in asset quality due to improving collections. Higher funding requirement of originators on account of rising disbursements and improving business activity post end of lockdown and moratorium period would give a push to activity. READ MORE

2:51 PM

Oil plunges 2% as new virus strain renews demand recovery fears

Oil prices dropped nearly 2% on Tuesday, adding to steep losses from the previous session, as a new strain of the novel coronavirus in the United Kingdom triggered concerns over fuel demand recovery. Brent crude futures were down 88 cents, or 1.7% to $50.03 a barrel while U.S. WTI crude futures fell 92 cents, or 1.9%, to $47.05 a barrel. (Text Source: Reuters)

 

2:49 PM

Stocks that hit 52-week high on BSE today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
BIRLASOFT LTD	231.35	238.00	14.36
INFOSYS	1214.75	1216.10	3.27
L & T INFOTECH	3549.00	3615.00	4.51
LINDE INDIA	899.50	990.00	-1.75

2:38 PM

Buzzing Stock :: Birlasoft gains 13%, hits fresh record high

Shares of Birlasoft (formerly KPIT Technologies) hit a fresh record high of Rs 229, surging 13 per cent on the BSE in the intra-day trade on Tuesday. Stock of the CK Birla Group and a global enterprise digital and IT services company has zoomed 224 per cent thus far in the calendar year 2020. In comparison, the S&P BSE Sensex is up 11 per cent during the year. READ MORE

2:27 PM

NEWS ALERT :: BioNTech says can make mutation-beating vaccine in six weeks, reports AFP

2:22 PM

Sensex at day's high, touches 46,000 mark

2:19 PM

Global Market Update: London's FTSE extends losses, broader Europe recovers

London’s blue chips fell on Tuesday as a fast-spreading new coronavirus strain in the UK pushed more countries to shut their borders, while broader European markets recovered following the approval of a long-awaited U.S. aid package. London’s FTSE 100 dropped 0.2% to hover near their three-week lows, with materials and energy shares leading declines. The pan-European STOXX 600 index, meanwhile, rose 0.6%, recovering from its biggest one-day loss in nearly two months on Monday. (Source: Reuters)

 

2:17 PM

Concerns may be overdone, downside limited for Mphasis stock

Shares of Bengaluru-based IT services company Mphasis are trading with marginal gains over the past 3 months, sharply lagging the Nifty IT index's 18 per cent gains during this period.

 

While its outperformance during July-September could be a reason, concerns over Mphasis’ DXC business and the buzz around stake sale by private equity (PE) player Blackstone have kept investors on the sidelines despite the company's healthy fundamentals. READ MORE

2:04 PM

Sensex gains 200 pts :: IT, select financials lift the index

1:59 PM

Nifty back above 13,350 levels

1:58 PM

MARKET CHECK :: Sensex stages smart recovery

1:53 PM

L&T Infotech hits record high, L&T Tech surges 7% in a weak market

Shares of Larsen & Toubro (L&T) Group technology services companies were in focus at the bourses on Tuesday, rallying up to 7 per cent on the BSE in intra-day deals in an otherwise weak market. The stock of L&T Infotech (LTI), a global technology consulting and digital solutions Company rose 6 per cent to Rs 3,615, surpassing its previous high of Rs 3,515, touched on October 12, 2020. In comparison, the S&P BSE Sensex was down 0.06 per cent at 45,525 points at 01:18 pm. READ MORE

1:48 PM

Tata Steel, UPL, Tata Motors: Bear grip firm on stocks with UK exposure

Tata Steel Ltd (TATASTEEL): A Gap down closing on December 21, 2020 dismantled the upside bias in the stock. However, as long as the stock holds the support of Rs 575 levels, it may regain its upside momentum. On the weekly chart, the stock broke below the low of 'spinning top', placed at Rs 617, that induced a negative outlook. The Relative Strength Index (RSI) has formed a negative crossover suggesting selling pressure to get intense if crucial supports are broken ahead. On the upside, the stock needs to conquer Rs 625 levels to enter the bull territory. The next support comes at Rs 552 levels. READ MORE

1:32 PM

Sector Watch | BSE Telecom best sectoral gainer amid gains in Airtel

1:24 PM

Economic recovery, fewer NPAs to drive banks' re-rating in 2021: Analysts

Weathering the Covid-19 pandemic better-than-expected, nursing their balance sheets, and gaining meaningful market share, large private banks and financial institutions are likely to enter a ‘golden age’ in 2021, analysts say. Private lenders strengthened their capital, built excess provisions, improved liquidity positions, and increased digital adoption to come out strong from the Covid-19 crisis. READ MORE

1:14 PM

UK economy grew by record 16% in 3rd quarter after first lockdown slump

Britain’s economic recovery from its coronavirus crash was a bit quicker than previously thought in the July-September period, official data showed on Tuesday. Gross domestic product grew by a record 16.0% in the third quarter - revised up from a previous estimate of 15.5% - but that still did not make up for its 18.8% slump in the April-June period when much of the economy was shut down. (Source: Reuters)

1:08 PM

IPO Update: Anthony Waste IPO subscribed nearly 3x so far on Day 2

Total Issue Size	66,66,342
Total Bids Received	1,75,96,659
Total Bids Received at Cut-off Price	1,21,22,663
No. of times issue is subscribed	2.64

Data Source: NSE

1:01 PM

BUZZING STOCK:: L&T Infotech zooms 6% in an otherwise weak market