Sensex gains 657 pts, Nifty tops 17,450; Maruti rises 4%, Adani Wilmar 20%

CLOSING BELL

A mild pullback in oil prices and bond yields made investors turn to riskier assets on Wednesday. Global equities, including domestic ones, rose today with the benchmark BSE Sensex and the NSE's Nifty climbing 1.1 per cent each. Volatility index, India VIX, cooled off 5.7 per cent.

The S&P BSE Sensex opened with a positive gap of over 300 points, and build on its gains as the day progressed. It hit an intra-day high of 58,508 before settling at 58,465 level, up 657 points. 

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Only 3 stocks -- Sun Pharma, PowerGrid, and ITC -- ended in the red on the Sensex, while gains were led by Maruti Suzuki (up 4 per cent), IndusInd Bank, HDFC Bank, Bajaj Finserv, Wipro, and Titan Company.

On the NSE, the Nifty50 closed at 17,464, up 197 points. Here, 8 stocks ended in the red, including ONGC (down 2 per cent), BPCL, Tata Steel, SBI Life, and HDFC Life.

According to Rupak De, Senior Technical Analyst at LKP Securities, Nifty has formed a green candle after a Dragonfly Doji pattern on the daily chart, which suggests a short-term bullish reversal.

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"On the higher end, immediate resistance is visible at 17,530. A decisive move above 17,530 may induce a rally towards the recent peak of 17,775-17,800. On the lower end, support is placed at 17,315," he said.

In the broader markets, the BSE MidCap index marginally outperformed the frontline indices as it ended 1.23 per cent up. The BSE SmallCap index, on the other hand, added 0.45 per cent.

Among sectors, only PSU Bank and Oil & Gas indices closed in the red zone, down 0.6 per cent and 0.24 per cent, respectively. On the flipside, the Nifty Auto index was the top gainer, up over 2 per cent.

ALSO READ: Will the RBI policy calm bond markets? Here's what analysts think

Buzzing stocks

Shares of specialty chemicals maker, Ishan Dyes & Chemicals, soared nearly 20 per cent to a high of Rs 166 in Wednesday's intraday trade amid heavy volumes, after ace investor Shankar Sharma bought a significant stake in the company in the previous trading session via open market deals. READ MORE

Shares of city gas distribution (CGD) companies, Indraprastha Gas (IGL) and Mahanagar Gas (MGL) hit their respective 52-week lows on the BSE in Wednesday’s intra-day trade after the companies reported a disappointing set of numbers for the quarter ended December 2021 (Q3FY22) and amid concerns of aggressive influx of electric vehicles (EVs). READ MORE

Shares of Adani Wilmar hit a new high of Rs 318 after they rallied 20 per cent on the BSE in Wednesday's intra-day trade. With today's rally, the stock of Adani Group edible oil major has surged 38 per cent over its issue price of Rs 230 per share, and is above 44 per cent from its listing price of Rs 221 on the BSE. READ MORE

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Markets at 02:30 PM

LIVE market updates: The key benchmark indices extended gains and were hovering near the highs of the day on the back of sustained buying support in select heavyweights.

The BSE Sensex touched a high of 58,456, and was up 617 points at 58,426. The NSE Nifty gained 183 points at 17,450.

Among the Sensex 30 shares, HDFC Bank and Infosys contributed one-third of the Sensex gains. Reliance and ICICI Bank were the other major contributors. These four heavyweights were up 2.4 per cent, 1.4 per cent, 0.9 per cent and 1.1 per cent, respectively.

IndusInd Bank and Maruti remained the top per centage gainers, up nearly 3.5 per cent each.

A total of 160 stocks registered a fresh 52-week high in trades, including the likes of Bank of Baroda, DB Realty, GNFC, National Aluminium, Reliance Infrastructure, Speciality Restaurants, TV18 Broadcast and Zee Learn. On the other hand, 21 stocks touched a fresh 52-week low, including the likes of Astrazeneca Pharma, Jubilant Pharma, Orchid Pharma, Sadbhav Infra, Take Solutions, Tasty Bite and Vijaya Diagnostic.

On the BSE, 227 stocks were locked at the respective upper limits, while 312 hit the lower circuits.

Among sectoral indices, the BSE Auto and Consumer Durables indices soared 1.7 per cent each. The Healthcare, IT, Telecom and Metal indices were up over a per cent each. 

Elsewhere in Europe, CAC 40 and DAX 30 were up around a per cent each in early deals, while FTSE 100 added 0.4 per cent. The US futures indicated a 0.5 per cent and 0.7 per cent opening gain for the Dow Jones and Nasdaq, respectively.

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Markets at Lunch (01:30 PM)

LIVE market updates: The key benchmark indices were seen consolidating gains in noon deals backed by steady buying in IT and financial shares. 

The BSE Sensex was up 469 points at 58,278, and the NSE Nifty gained 146 points at 17,413.

Maruti and IndusInd Bank were the top gainers among the Sensex 30 shares, up 3.3 per cent each. Bharti Airtel, Bajaj Finserv, HCL Technologies, HDFC Bank and Titan were the other significant gainers. Wheras, ITC and Sun Pharma were the notable losers.

The BSE Midcap index moved in sync with the benchmark and was up a per cent, while the Smallcap index was underperforming with a marginal 0.3 per cent gain.

The overall breadth was also neutral. Out of 3,384 stocks traded on the BSE so far, 1,604 advanced and 1,662 declined.

In the broader markets, Adani Wilmar was locked at the 20 per cent upper limit on Day 2 of its debut on the bourses. Deep Industries, Geecee Ventures, Zuari Global, Keynote Financial Services, Zuari Agro Chemicals, Ruby Mills, Delta Manufacturing, Tainwala Chemicals, Spandana Sphoorty, TV18 Broadcast, Poonawala Fincorp and Prakash Industries were the other major gainers. 

On the flip side, Advani Hotels, Ausom Enterprise, Ind-Swift Labs, Shiva Mills, SMS Pharma, Ashapura Minechem, Nagarjuna Fertilisers, Stove Kraft, Endurance Technologies, Deepak Fertilisers, TCI Express, Suven Pharma and Reliance Power were the prominent losers.

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Markets at 12 noon

LIVE market updates: The key benchmark indices were firm around the same levels in noon trades and were up 0.8 per cent. The BSE Sensex was higher by 466 points at 58,276 level, while the NSE Nifty was at 17,407, up by 140 points. 

The top contibutors on Sensex were HDFC Bank, Infosys, Maruti, Reliance and ICICI Bank, which together accounted for 58 per cent of the index's gains. Meanwhile, Coal India, up 5 per cent was the top Nifty gainer. 

ALSO READ: Analysts bullish on Bharti Airtel as growth in mobile biz supports outlook

Sector-wise, Nifty Metal rose 1 per cent, extending Tuesday's gains. Nifty Auto, Banks, IT, and Realty indices were other top gainers. 

In the broader markets, the BSE MidCap index was up 0.8 per cent led by gains in Sun Tv, Apollo Hospital, InfoEdge, Motilal Oswal, Federal Bank, Cholamandalam Investment, Gland Pharma, Sona BLW Precision and Page Industries, all up 3 per cent each. The BSE SmallCap index was only 0.2 per cent up.

Among stocks, shares of Stove Kraft tanked 16 per cent to Rs 715 on the BSE in Wednesday’s intra-day trade after the company reported a sharp 67 per cent year-on-year (YoY) decline in its profit after tax (PAT) of Rs 11.1 crore in December quarter (Q3FY22), due to higher operational cost. READ MORE

Asian markets

Shares in Asia were firmly higher in Wednesday trade, with stocks in Hong Kong leading gains regionally amid gains in tech shares. The Hang Seng index soared 2 per cent. Mainland Chinese stocks were also higher, with the Shanghai composite up 0.7 per cent and the Shenzhen component advancing 1.5 per cent. In Japan, the Nikkei 225 gained 1.1 per cent, while South Korea's Kospi rose 0.7 per cent. 

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Markets at 11 AM

LIVE market updates: The frontline indices continued to firmly hold gains amid positive cues from their global peers. The BSE Sensex was at 58,242 , up 433 points. The NSE Nifty50 was 132 points higher at 17,399 level. The two benchmarks were up nearly 0.8 per cent. 

The broader markets, in comparison, were underperforming with the BSE MidCap and SmallCap indices trading 0.6 per cent and 0.3 per cent up. 

On the Sensex, Maruti, IndusInd Bank were the top two gainers, up 2.8 and 2.6 per cent, respectively, followed by HCL Tech, HDFC Bank, Tech M, and Bajaj Finserv, up 1.6-2 per cent. Coal India was up 4 per cent on the Nifty and was the leading gainer on the index. 

Sectorally, Nifty Auto index was the top performer now, up 1.5 per cent, followed by Nifty Private Bank, and IT indices. PSU index was the sole loser, down 0.8 per cent.

Buzzing stocks

Newly listed shares of Adani Wilmar extended their rally and surged 13 per cent on the BSE. At, 11 am, the stock was up 18 per cent. READ HERE

This apart, specialty chemicals maker Ishan Dyes & Chemicals soared nearly 20 per cent to a high of Rs 166 amid heavy volumes, after ace investor Shankar Sharma bought a significant stake in the company in the previous trading session via open market deals. READ MORE.

And, shares of city gas distribution companies, Indraprastha Gas (IGL) and Mahanagar Gas (MGL) hit their respective 52-week lows on the BSE after the companies reported a disappointing set of numbers for the quarter ended December 2021 (Q3FY22) and amid concerns of aggressive influx of electric vehicles (EVs). READ ABOUT IT HERE

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Markets at 10 AM

LIVE market updates: The key benchmark indices opened gap-up on Wednesday and steadily held gains in early morning. The BSE Sensex was up 451 points at 58,259, while the NSE Nifty50 was at 17,398, up 131 points. 

The up move was supported by strong gains in IT and private banking counters. Bajaj Finserv, Maruti, HCL Tech, Titan, IndusInd Bank, HDFC Bank, Wipro, Tech M, Coal India, IOC, Bajaj Auto were the top gainers on the bourses, trading up to 2.6 per cent.  

In the broader markets, the BSE MidCap and SmallCap indices were up 0.56 and 0.42 per cent respetively. 

Sectorally, Nifty Bank was up 1.12 per cent, and the Nifty Private Bank index was also higher by 1.3 per cent, but public banks were subdued in trade as the PSB index was 0.84 per cent down. Nifty IT, Financials, Auto and Consumer Durables were other major gainers, up 1 per cent each. 

Individually, shares of Endurance Technologies slipped 8 per cent to Rs 1,423 on the BSE in Wednesday's intra-day trade after the company's profit after tax (PAT) halved to Rs 94.6 crore in December quarter (Q3FY22) due to weak operational performance. READ MORE HERE.

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Opening Bell

LIVE market updates: The key benchmark indices started trade on a positive note deriving support from asian markets that were largely higher this morning. The BSE Sensex was up 393 points at 58,202, while the NSE Nifty was at 17,381, higher by 114 points.

Tech M, Wipro, Infosys, Maruti, Titan, Bajaj twins, HCL Tech, Asian Paints, HDFC Bank, and IndusInd Bank were the top Sensex gainers, trading up to 2 per cent higher. IOC, Hindalco and ONGC were the additional top Nifty gainers.  

Meanwhile, Sun Pharma, Bharti Airtel, NTPC and Nestle were the only losers on the bourses, down up to 0.3 per cent. 

In the broader markets, the BSE MidCap and SmallCap indices were also in the positive territory, up 0.9 per cent each. 

Sectorally, all indices were trading higher barring PSU Banks, which was flat. The Nifty IT index was leading gains, up 1.5 per cent, followed by Nifty Auto, up 1 per cent. Nifty Bank, Pharma, Metal and Consumer Durables were the other major gainers, up 0.6-1 per cent. 

Among stocks, Latent View Analytics was up 4.6 per cent on the BSE as the company posted strong Q3 numbers on Tuesday. Its net profit more-than-doubled to Rs 49.92 crore. Total income grew 37.7 per cent YoY to Rs 107.75 corre. 

On the flip side, Gujarat Gas was trading 5 per cent lower on weak Q3 performance. The company has posted net profit of Rs. 122.94 crores, down 50 per cent from the year-ago quarter.
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Pre-open session

LIVE market updates: The benchmark indices were hinting at a higher start on Wednesday, holding gains in the pre-open trades. The BSE Sensex was up 306 points at 58,114, while the NSE Nifty was at 17,376, higher by 109 points. 

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LIVE market updates: The key benchmark indices may start Wednesday's session slightly in the green zone as per trend indicated by the SGX Nifty Futuures, which were quoting 17,331 levels at 8 am. This is 50-odd points higher than Nifty's spot close in the previous session.  

On Tuesday, the indices had closed with mild gains in a highly volatile session. 

Such volatility may appear today as well owing to nervousness ahead of the RBI MPC meeting outcome on Thursday. 

Among those stocks which declared Q3 results the day before, Bharti Airtel and Godrej Consumer Products are likely to be in focus. 

That apart, ACC, Berger Paints, Bosch, DCB Bank, GMR Infra, Indiabulls Housing Finance, Nykaa, Petronet LNG, PowerGrid Corporation, SAIL, and Tata Power may also be eyed ahead of the December quarter earnings today.

Global cues

The Wall Street ended higher on Tuesday led by gains in banking shares as US Treasury yields jumped ahead of the inflation data this week. Apple, Microsoft and Amazon also aided the momentum. Dow Jones and Nasdaq rallied 1.1 per cent and 1.3 per cent, respectively, while the S&P 500 added 0.8 per cent.

Meanwhile, oil prices cooled-off from recent 7-year highs as the resumption of indirect talks between the US and Iran rekindled hopes of exports from the OPEC producer. Brent and WTI crude oil futures dropped 2.1 per cent each to $90.78 and $89.36, a barrel, respectively.

Major markets in Asia logged notable gains in early morning trades on Wednesday. Hang Seng soared nearly 2 per cent, and Kospi surged nearly a per cent. Nikkei gained 0.8 per cent, and Taiwan added 0.6 per cent. Straits Times was up 0.2 per cent. Shanghai Composite, however, was marginally in red.