Budget-rally extends on D-St; Sensex surges 1,197 pts; SBI up 6%, TaMo 17%

The Sensex index reclaimed the 50,000 level in intra-day deals and hit a high of 50,154

4:21 PM

MARKET CLOSING COMMENT :: Ajit Mishra, VP - Research, Religare Broking

The buoyancy continued for the second consecutive session as participants gave a thumbs up to the Union Budget. The rally was largely driven by pro-growth budget announcements and supportive global cues. Also, decent numbers from auto companies aided sentiments. Consequently, the Nifty ended on a strong note, up by 2.6% at 14,648 levels. All the sectoral indices ended in positive with Auto, Banks and Capital goods were the top gainers. The broader market indices traded in tandem and gained in the range of 1.6-2.3%.

 

Now as the budget is behind us, all eyes will be on RBI monetary policy outcome scheduled on Friday i.e. February 5. Meanwhile, as more corporates announce their results, stock-specific volatility would remain high. Markets may see a breather after the recent surge but the bias would remain on the positive side. Participants should maintain their focus on identifying the right opportunities across sectors.

4:11 PM

MARKET CLOSING COMMENT :: Joseph Thomas, Head of Research at Emkay Wealth Management

The markets kept up the momentum gained from a positive budget presented yesterday. The most spectacular movement has been witnessed in the bank index which rallied by almost 3.50 % in today's session compared to a 2.50 % rise in Sensex and Nifty. The rally is broad based and derived its basic premises from the growth oriented proposals in the budget across various key sectors of the economy, putting the highest emphasis on self-reliance and transformation into one of the fastest growing economies of the world

4:00 PM

Market stats :: BSE m-cap nears Rs 197-trillion mark

3:52 PM

SECTOR OF THE DAY :: Auto stocks in top gear; index ends 4% higher

3:51 PM

SECTOR OF THE DAY :: Nifty Bank ends at record closing peak

3:50 PM

Indigo Paint ends 109% higher against issue price of Rs 1,490

3:48 PM

Tata Motors zooms 17%

3:46 PM

Reliance Industries surges in last hour of trade as Future Grp refuses talks with Amazon

3:44 PM

HDFC pares gains partially on 65% YoY decline in Q3 profit

3:42 PM

Sectoral trends on NSE at Close

3:41 PM

Sensex Heatmap at Close

3:39 PM

CLOSING BELL

Among the headline indices, the S&P BSE Sensex zoomed 1,197 points, or 2.46 per cent, to settle the day at 49,797.7 levels. The index reclaimed the 50,000 level in intra-day deals and hit a high of 50,154 before paring some of the gains.

The broader Nifty50 index, meanwhile, topped the 14,600-mark and closed at 14,648 levels, up 367 points or 2.57 per cent.

 

3:23 PM

NEWS ALERT :: Future Group rejects Delhi HC's proposal to enter into talks with Amazon for amicable resolution

>> Says, Future Group is a publicly listed firm; has no deal with Amazon

>> Talks with Amazon wll lead nowhere; have already filed papers with NCLT for deal with Reliance Industries

3:09 PM

Alkyl Amines Chemicals rises over 3% as board approves interim dividend

>> The Board of Directors declared an interim dividend of Rs 10 per share of Rs 5 each for the financial year 2020-21. The Record Date for the interim dividend is fixed at February 15, 2021.

2:56 PM

RESULT REACTION:: HDFC climbs off day's high, but still up 3%

2:54 PM

ITC, HDFC Bank and six other Sensex stocks scale fresh 52-week highs

Shares of State Bank of Bank (SBI), ITC, Larsen & Toubro (L&T), UltraTech Cement, HDFC Bank, ICICI Bank, Bajaj Auto, and Bajaj Finserv were among the eight stocks from the 30-share S&P BSE Sensex hitting their respective 52-week highs on Tuesday, as the Indian markets extended their historic Budget-day rally and surged as much as 3 per cent in intra-day deals. READ MORE

2:47 PM

HDFC Q3 standalone profit slips 65% YoY to Rs 2,926 cr, revenue tanks 42.2%

Mortgage lender HDFC on Tuesday reported a 65 per cent year-on-year (YoY) decline in standalone net profit to Rs 2,925.83 crore for the quarter ended December 2020 (Q3FY21) on the back of lower income. The housing financier's PAT stood at Rs 8,372 in the year-ago period (Q3FY20). Sequentially, the profit grew 2 per cent from Rs 2,870 crore clocked in Q2FY21. READ MORE

2:35 PM

Q3 EARNINGS | HDFC net profit down 65.1% YoY at Rs 2,925.8 crore

-- HDFC Q3 profit includes proceeds from Gruh stake sale

-- HDFC revenue down 42.3% YoY at Rs 11,707 cr

-- Tax expensea at Rs 826.7 crore vs Rs 770.5 crore in the year-ago period

2:29 PM

Dec Quarter Result :: Escorts reports profit of Rs 280 crore

>> Revenue at Rs 2,017 crore

>> Ebitda at Rs 364 crore

>> Ebitda margin at 18.1%

2:26 PM

These stocks defy market mood, slip up to 5%

2:26 PM

Ahead of Results :: Dixon Tech advances over 3%

2:17 PM

Cement shares soar on govt's infra push; UltraTech, Shree Cement up 8%

Shares of cement manufacturers were on a roll in Tuesday's session with sector giants UltraTech Cement, Shree Cement, Ambua Cements, Grasim Industries and ACC rising up to 8 per cent on the BSE as the Union Budget focussed on growth with a sharp increase in capital expenditure (capex) allocation. The huge thrust on infrastructure spending by the government in the Budget 2021–22 bodes well for construction materials such as cement and steel. READ MORE

2:08 PM

BUZZING STOCK :: Tata Motors surges 12%

2:01 PM

Budget 2021 a big effort by govt to boost country's economic recovery: S&P

Global rating agency Standard and Poor’s (S&P) on Tuesday said that India's Budget for FY22 represents a comprehensive effort by the central government to shore up the country's nascent economic recovery. However, the brawny spending programme also entails higher-than-expected general government deficits--at more than 14 per cent of GDP this fiscal year (FY21). It would be 11.6 per cent in FY22. READ MORE

1:50 PM

Sector Update | Nifty Media index rises nearly 4%, best sectoral performer

1:43 PM

Shares of Amara Raja Batteries trade higher as firm to mull interim dividend on Feb 13

1:40 PM

Budget calls for creating permanent framework for buying corporate bonds

"To instill confidence among the participants in the corporate bond market during times of stress and to generally enhance secondary market liquidity, it is proposed to create a permanent institutional framework. The proposed body would purchase investment grade debt securities both in stressed and normal times and help in the development of the bond market,” Sitharaman said in her speech. READ MORE

1:28 PM

Market Update | As Sensex rises 1,100 points, only four stocks trade in the red

1:25 PM

'Bold' budget to bring focus back to traditional sectors: Analysts

The Budget for FY22 scores high on many counts, if the Sensex’s 5-per-cent jump is any parameter to go by. Not only has the finance minister taken the responsibility of government spending, but has also indicated to investors that a comeback for traditional brick-and-mortar sectors — infrastructure, metals, cement and allied manufacturing pockets — is on the cards. READ MORE

1:11 PM

Isgec Heavy Engineering leaps 9% on order wins from cement, steel sectors

Shares of Isgec Heavy Engineering rallied 9 per cent to Rs 404, also its 52-week high, on the BSE on Tuesday, after the company said it has recently received two orders – one for a Cement Waste Heat Recovery Boiler (CWHRB), and another for conducting Remnant Life Assessment (RLA) study. The company did not disclose the size of the orders. The order for CWHRB is from a leading cement manufacturer for their plant site in Meghalaya. The company said it is committed towards the utilization of waste energy and supporting the cement Industry to generate clean or green power. READ MORE