Sensex snaps 3-day losing run, ends 187 pts up; RIL gains 2%, PSBs shine

CLOSING BELL

Equities snapped their 3-day losing streak on Tuesday amid mixed global cues and fag-end buying in metals, financials, select auto, and RIL stock. 

The frontline S&P BSE Sensex hit a high of 57,926 and a low of 57,059 before ending the choppy day 187 points higher at 57,808.58. The 30-pack index was lifted by Tata Steel (up 3 per cent), RIL (up 2 per cent), Bajaj twins, and Asian Paints.

Titan Company, Axis Bank, Maruti Suzuki, Sun Pharma, ICICI Bank, and Bharti Airtel were other top gainers, rising between 0.35 per cent and 1 per cent. 

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On the NSE, the Nifty50 index shut shop at 17,267, up 53 points. In the intra-day deals, it had hit a low of 17,044.

ONGC, Indian Oil Corporation, Power Grid, SBI Life, L&T, TCS, Tata Consumer Products, Kotak Bank, HDFC Bank, Ultratech Cement, Shree Cement, and SBI were the top laggards on the Nifty index, dropping in the range of 1 to 2.8 per cent. 

In the broader markets, the BSE SmallCap was hit harder as it declined 1.4 per cent on the exchange today. The BSE MidCap index, meanwhile, slipped 0.45 per cent.

Sectorally, the Nifty Metal and PSU Bank indices each ended 0.8 per cent higher. Among losers, the Nifty Realty index dipped 0.8 per cent, followed by the Nifty IT index, down 0.3 per cent.

ALSO READ: Paytm's rising buy ratings signal bottom in wake of IPO disaster

Buzzing stocks

Shares of Adani Wilmar listed at Rs 221 on the BSE, a discount of nearly 4 per cent over the issue price of Rs 230. On the NSE, it listed with a minor loss of 1 per cent at Rs 227. However, post listing, strong demand from investors saw the stock stage a smart recovery, helping it close at Rs 265. READ MORE

Shares of Bank of Baroda (BoB) hit an over two-year high of Rs 117.50, and gained 4 per cent on the BSE in Tuesday's intra-day trade, in an otherwise weak market. The stock hit its highest level since July 23, 2019. READ MORE

Shares of TVS Motor Company (TVCL) surged 8 per cent to Rs 685 on the BSE in Tuesday's intra-day trade after the company registered highest-ever operating earnings before interest tax and depreciation and amortization (Ebitda) of Rs 568 crore during December quarter (Q3FY22). READ MORE

Shares of Sansera Engineering hit a new low of Rs 681.20 after they slipped 9 per cent on the BSE in Tuesday's intra-day trade after the company's consolidated net profit more-than-halved to Rs 23.9 crore in December quarter (Q3FY22). This was due to its weak operational performance. The auto component company had posted profit of Rs 50.6 crore in the year-ago quarter. READ MORE

Shares of Aditya Birla Capital, too, ended 2 per cent lower on profit booking post Q3 results. Global brokerages Morgan Stanley, BofA, and Credit Suisse have 'buy' calls on the stock with target price of Rs 158, Rs 155, and Rs 140, respectively.  

Primary market
The three-day share sale of Vedant Fashions managed to sail through on the final day and had been subscribed 2.5 times till 3:45 PM.

Global markets

European stocks were cautiously higher on Tuesday morning with global investors looking ahead to US inflation data released later this week. The pan-European Stoxx 600 index gained 0.4 per cent in early trade, with basic resources adding 1.4 per cent while tech stocks slipped 0.7 per cent.

On Wall Street, US stock index futures were muted too. Futures contracts tied to the Dow Jones Industrial Average were up 72 points, or 0.21 per cent. S&P 500 futures gained 0.14 per cent, while Nasdaq 100 futures were down 0.02 per cent.

Earlier in Asia, Japan's Nikkei ended 0.7 per cent lower while South Korea's Kospi eked out 0.05 per cent-gain.

  

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Markets at 02:30 PM

LIVE market updates: The key benchmark indices continue to swing amid high volatility, with bouts of recoveries followed by fresh selling pressure. 

The HDFC twins and TCS were accounting for a loss of 150 points on the BSE Sensex, while Reliance contributed nearly 50-odd points on the positive side.

The BSE Sensex was down 148 points at 57,473, and the NSE Nifty shed 43 points at 17,171.

Apart from the HDFC twins and TCS, Kotak Bank, Larsen & Toubro, ICICI Bank and SBI were the other major draggers. Wheras, Tata Steel and Asian Paints lended support.

Meanwhile, the broader indices languish at lower levels. The BSE Midcap index was down 0.7 per cent and the Smallcap index had slipped 1.5 per cent. 

Among sectoral indices, the BSE Power index plunged 2.5 per cent, and the Capital Goods dropped 1.5 per cent. The Realty index was the other prominent loser. The Metal index, however, bucked the trend and was up a per cent. 

A total of 176 stocks registered a fresh 52-week high in trades on Tuesday, while 28 stocks touched a new 52-week low on the BSE.

Similarly, 220 stocks hit the respective upper limits, while 330 stocks were locked at the lower circuits.

The overall breadth also remaind in favour of the bears - out of 3,381 stocks traded on the BSE so far, 2,317 declined while 979 advanced so far.

In the primary market, Vedant Fashions IPO sailed through on the final day of the offer period. As of 02:15 PM, the issue was subscribed 1.53 times with QIBs portion subscribed almost 5 times. The retail portion and NIIs quota were subscribed 36 per cent and 14 per cent so far.

Elsewhere in Asia, the major markets started the trading day on a positive note. The FTSE 100, CAC 40 and DAX 30 were up 0.6-0.7 per cent each. The US futures too indicated a marginally positive start for the benchmarks, the Dow Jones and Nasdaq futures were up 0.2 per cent and 0.1 per cent, respectively.

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Markets at Lunch (01:30 PM)

LIVE market updates: The key benchmark indices were exhibiting high amount of volatility albiet with a negative bias given the nervouss undertone. IT and financial shares were the major laggards, while select heavyweights like Tata Steel, Reliance and Bajaj twins moved higher.

The BSE Sensex gyrated in range of 867 points, from a high of 57,926 the index tumbled to a low of 57,059, and was down 71 points at 57,550. The NSE Nifty declined 21 points to 17,193.

Among the Sensex 30 shares, PowerGrid Corporation was the major loser, down 2.2 per cent. Mahindra & Mahindra, Kotak Bank, Larsen & Toubro, TCS, SBI, UltraTech Cement, HDFC Bank and NTPC were the other prominent losers.

Wheras, Bajaj Finance moved 1.6 per cent higher. Tata Steel, Titan, Bajaj Finserv, Asian Paints and Reliance Industries held marginal gains.

The broader markets had logged steeper losses in trades so far. The BSE Midcap index was down 0.9 per cent, and the Smallcap index had shed 1.5 per cent. The overall market breadth too was fairly negative, with 2.4 declining stocks versus every advancing share on the BSE.

In the broader markets, Texmaco Rail tumbled nearly 13 per cent. Orient Abrasives, Transformers and Rectifiers (India), Archies, Nitin Spinners, Talbros Automotive, Selan Exploration, Magadh Sugar, Sansera Engineering, Nucleus Software, Ashapura Minechem, Uttam Sugar Mills, Jindal Drilling,  Minda Industries, Dalmia Sugars, Eveready, Morepen Labs, Tata Power, Kirloskar Brothers, MAS Financial Services, Sharda Corpchem, Balaji Amines, VRL Logistics, Jain Irrigation, Deepak Fertilisers, Reliance Power, Dhampur Sugar Mills and Raymond were the other major losers. 

On the positive side, Keynote Financial Services and Adani Wilmar were locked at the respective 20 per cent upper limits. Ausom Enterprise, Poddar Housing, Advani Hotels, TCPL Packaging, Goa Carbon, Ugar Sugar, Shanti Gears, Bombay Rayon Fashions, Neuland Labs, Vindhya Telelinks, SIS, GNFC, Rajesh Exports, Pfizer and Responsive Industries were some of the top gainers.

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Markets at 12 noon

LIVE market updates: The headline indices were off day's lows in noon trades but continued to be under selling pressures for the fourth straight session amid uneven global cues. The BSE Sensex was down 68 points at 57,544, while the NSE Nifty50 was lower by 25 points at 17,189 levels. 

Of the 30-Sensex shares, 13 were in the green led by gains in Bajaj Twins, Titan, Asian Paints, Wipro, Maruti, RIL and Tata Steel, trading up between 0.6-2 per cent. On the Nifty, Divis Labs, Cipla and Britannia were the additonal gainers. 

In the broader markets, the BSE MidCap and SmallCap indices continued to underperform, trading 0.5 and 1.2 per cent lower, respectively. From midcaps, Tata Power, Sona BLW Precision, Bhel, Gujarat Gas, Adani Power, PFC, GlaxoSmithKline, Union Bank of India and Bank of India were the top losers, down 2-6 per cent. 

Sectorally, the Nifty Pharma and Healthcare indices were the sole gainers, higher up to 0.2 per cent. Realty, Metals, IT, and Banks continued to reel under pressure and were trading up to 1 per cent lower.   

Among individual stocks, shares of Biocon hit an over six-month high of Rs 410.50, up 3 per cent on the BSE in Tuesday’s intra-day trade after its subsidiary Biocon Pharma received approval of its ANDA for Posaconazole Delayed-Release tablets from the US Food & Drug Administration (USFDA). READ MORE HERE.

Global markets

In the US, stock index futures were muted in early morning trading as investors await key inflation data later this week. Futures contracts tied to the Dow Jones Industrial Average were flat. S&P 500 futures shed 0.04 per cent, while Nasdaq 100 futures were down 0.02 per cent.

In Asia, shares were largely mixed on Tuesday. The Shenzhen component in mainland China plunged 1.16 per cent, while the Shanghai composite was up 0.5 per cent. Hong Kong’s Hang Seng index also fell 0.96 per cent. Elsewhere, Japan’s Nikkei 225 gained 0.13 per cent, while the Topix index climbed 0.4 per cent. South Korea’s Kospi advanced 0.08 per cent. 

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Markets at 11 AM

LIVE market updates: The key benchmark indices extended losses in morning deals in a volatile session. The BSE Sensex was now 523 points down at 57,079, while the NSE Nifty was at 17,051, lower by 162 points. The two benchmarks were down up to 0.9 per cent. 

Private banking majors HDFC Bank and ICICI Bank were the top contibutors to the indice downmove. They were followed by IT majors--Infosys and TCS. Other counters that were also weighing on the benchmarks included L&T, HDFC, Kotak bank and SBI.

Further, post a tepid listing of edible oil major Adani Wilmar, what should investors do? READ HERE TO WHAT EXPERTS SAY.

This apart, the broader markets were significantly underperforming the benchmarks. The BSE MidCap index was down 1.2 per cent while the SmallCap index trading over 2 per cent lower. 

Sectorally, all Nifty indices were in the red zone led by Nifty Realty, PSU banks, Private banks, Financials, IT and Metal. 

In the primary market, the IPO of Vedant Fashions had been subscribed only 22 per cent so far on the last day, with the retail investor category receiving a subscription of 33 per cent. 

Among stocks, shares of TVS Motor Company (TVCL) surged 8 per cent to Rs 685 on the BSE in Tuesday's intra-day trade after the company registered highest-ever operating earnings before interest tax and depreciation and amortization (Ebitda) of Rs 568 crore during December quarter (Q3FY22). READ MORE.

On the other hand, GlaxoSmithKline Pharmaceuticals was down 2 per cent on the BSE after company reported a 3.9 per cent YoY decline in consolidated net profit at Rs 150.35 crore in the third quarter ended December 31, 2021. Total income was up 2.5 per cent YoY at Rs 826.24 crore. 
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Markets at 10 AM

LIVE market updates: Frontline indices were oscillating between gains and losses in early deals as mixed cues from global markets kept investment sentiment in check.

The S&P BSE Sensex was at 57,637 level, up 16 points or 0.03 per cent, at 10:02 AM. The NSE Nifty, on the other hand, was testing 17,200. It was down 2 points. 

Bajaj Finserv, up over 2 per cent, was the top Sensex gainer, followed by Bajaj Finance, Bharti Airtel, Asian Paints, Wipro, and Dr Reddy's Labs. 

On the downside, Power Grid, SBI, NTPC, TCS, and Infosys slipped up to 1.4 per cent and capped upside.

The broader markets were, however, underperforming and were down up to 0.5 per cent.

Sectorally, the Nifty Pharma index was the top gainer, up 0.6 per cent. The Nifty PSB index was worst hit, down over 1 per cent.

NEW LISTING
Shares of Adani Wilmar debuted on the bourses on a tepid note, listing at Rs 221 on the BSE, as against the issue price of Rs 230. It, however, rose to a high of Rs 248 soon after debut.

FOREX MARKET
Rupee opened higher at 74.61 per US dollar vs Friday's close of 74.70/$.

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Opening Bell

LIVE market updates: The benchmark indices opened on a fairly positive note on Tuesday after a day of huge sell-off. The BSE Sensex was 201 points higher at 57,822, while the NSE Nifty was at 17,288, up by 74 points. 

In the broader market, the BSE MidCap and SmallCap indices were also in green and were up to 0.49 per cent higher.

The top Sensex gainers were Maruti, Titan, Tata Steel, Dr Reddy's, Bajaj Finserv, Reliance, Wipro, Sun Pharma and Bharti Airtel, trading up to 2 per cent higher. Hindalco, Eicher Motors, JSW Steel and Cipla were the additonal gainers on the Nifty. 

On the flip side, PowerGrid, SBI, NTPC, HDFC, L&T, IndusInd Bank, TCS, Nestle, Infosys, Tata Consumer, and Britannia were the top losers. 

Sectorally, the Nifty Auto, Metal and Pharma indices were the top gainers, trading up to 0.7 per cent higher. On the downside, Nifty PSU Bank and Nifty Bank indices were the losers. 

Among stocks, PolicyBazaar parent PB Fintech was trading 2.6 per cent lower after the company posted yoy revenue growth of 73 per cent to Rs 367 crore in the quarter ended December 2021. Investors, however, seem unimpressed with its performace. 

On the flip side, TVS Motor was up 3 per cent on the BSE after the two-wheeler maker posted a 9 per cent YoY rise in net profit for Q3FY22 at Rs 288 crore when compared with Rs 266 crore in the corresponding quarter of FY21. The company also reported a highest-ever operating revenue of Rs 5,706 crore in the third quarter of FY22. 

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LIVE market updates: The key benchmark indices are expected to open on a quiet note on Tuesday as per trends indicated by the SGX Nifty futures, which were quoting 17,238 levels, around 20 points up from Nifty's spot close. 

Investors may choose to be in wait and watch mode ahead of the RBI MPC meet that is slated to begin today. 

In the market, Adani Wilmar is set to make its public debut. The issue had garnered 17.4x subscriptions, and the GMP (Grey Market Premium) indicates a likely 10 per cent listing gain for the stock.

Among individual shares, Bata India, Bharti Airtel, Escorts, Gujarat Gas, Indraprastha Gas, IRCTC, Jindal Steel, Godrej Consumer products and TTML are likely to be on investor radar ahead of their Q3 earnings. READ MORE.

In the primary market, the IPO of Vedant Fashions had been subscribed just 21 per cent on day 2. The offer ends for subscription today. 

Global cues

The US stocks ended with marginal losses on Monday amid mixed corporate earnings. The underlying tone remained nervous with analysts suggesting that the markets were pricing in a one-in-three chance of 50 bps rate hike in March itself.

Whereas, oil prices eased a wee bit as concerns over tight supply were offset by signs of progress in nuclear talks between the US and Iran. Brent crude was down 0.6 per cent at $92.69 a barrel, and WTI oil futures slipped 1.3 per cent to $91.32 a barrel.

Most of the major markets in Asia were up this morning. Kospi soared over a per cent. Nikkei, Straits Times and Taiwan too gained 0.7-0.9 per cent each.