Sensex pares gains, ends 497pts higher led by RIL, IT; MapmyIndia gains 33%

The BSE Midcap and Smallcap indices were up around 1.5 per cent each. Metal, IT, Consumer Durables indices logged smart gains

Closing Bell

The key benchmark indices bounced back in trade on Tuesday in tandem with global equity markets as investors looked for value in beaten down shares. IT, metals and index heavyweight Reliance Industries led the up move, while financials pared gains in the latter half of the trading day.

The BSE benchmark index, the Sensex, opened with a positive gap of almost 500 points at 56,320, and went on to rally to a high of 56,901 - up 1,079 points from the previous close. The BSE benchmark, however, pared gains towards the end of the day and finally settled 497 points higher at 56,319.

The NSE Nifty surged to a high of 16,936, and eventually gained 157 points to close at 16,771.

"The market is attempting to recover from yesterday’s heavy selloff, domestic indices staged a gap-up opening on bargain hunting supported by positive sentiments across global markets. Although concerns surrounding the impact of Omicron & FII selling still lingers, investors are trading cautiously and are optimistic", said Vinod Nair, Head of Research at Geojit Financial Services.



IT stocks, HCL Technologies and Wipro were the major gainers among the Sensex 30 pack, up 4 per cent and 3.6 per cent, respectively. Tata Steel, UltraTech Cement, Sun Pharma, Tech Mahindra and Titan were up 2-3 per cent each. Reliance Industries added 1.5 per cent to Rs 2,310.

On the flip side, PowerGrid Corporation slipped 1.8 per cent. Axis Bank and Bajaj Finance were the other notable losers.

Market Dashboard: Snapshot of key movers and shakers in trade today

In the broader market, the BSE Midcap and Smallcap indices finished with gains of 1.4 per cent and 1.3 per cent, respectively. The overall breadth too was fairly positive, with more than two advancing shares for every declining stock on the BSE.

Among sectoral indices, the BSE Metal index surged 3 per cent. The Consumer Durables index was up 2.2 per cent, while the IT, Telecom and Realty indices rallied around 1.5 per cent each.

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Debutant MapmyIndia soared 53.6 per cent to a high of Rs 1,587 in opening trades versus its issue price of Rs 1,033 per share on the BSE. The stock, however, pared some gains and eventually ended 33.2 per cent higher at Rs 1,376, with volumes of over 11.41 lakh shares on the BSE. READ MORE

In the primary market, CMS Info Systems was off to a slow start, and was subscribed only 33 per cent as of 03:30 PM, with the retail quota subscribed up to 66 per cent.
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Markets at 2:45 PM

LIVE markets updates: Headline indices came off-highs sharply in Tuesday's afternoon trade on the back of profit booking in select banking counters such as Axis Bank, Kotak, Bank, Bajaj twins, and SBI. However, gains in IT and RIL continued to limit the downside.

The BSE Sensex was nearly up 539 point at 56,361, while the NSE Nifty was up 165 points at 16,779. Both the indices hit intra-day lows of 56,047 and 16,688, respectively.

Meanwhile, despite the policy actions of major global central banks and year-end profit booking by foreign investors, Abhijit Bhave, chief executive officer at Fisdom Private Wealth expects FIIs to return to the Indian equity market in 2022. READ MORE.

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Markets at Lunch (01:30 PM)

LIVE market updates: The key benchmark indices were slightly off the day's high, but still held considerable gains as global cues were supportive.

The BSE Sensex was up 893 points at 56,715, as against the day's high of 56,901. The NSE was up 268 points at 16,882.

Reliance, Infosys and ICICI Bank contributed the bulk of the day's gain so far - 370 points. Among IT shares, Wipro had surged 4 per cent to Rs 694 on reports that IT firm had to acquire US-based Cybersecurity firm Edgile. READ MORE

In the broader markets, MTNL zoomed 17 per cent to hit a fresh 4-year high on hopes of divestment of its land bank. The stock has rallied 65 per cent in the last three weeks. READ MORE

Elsewhere in Asia, the major markets also held strong gains. Nikkei rallied more than 2 per cent, while Hang Seng surged 1.5 per cent. China's Shanghai Composite gained 0.9 per cent. Taiwan Weighted index advanced 0.7 per cent. Straits Times and Kospi were up 0.4 per cent each.
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Markets at 12 Noon

LIVE market updates: The key benchmark indices continue to hover near the highs of the day led by strong gains in IT and metal shares. Index heavyweight Reliance too was supporting the up move.

The BSE Sensex was up 938 points at the day's high of 56,760, and the NSE Nifty was on the verge on reclaiming the 16,900-level, up 279 points at 16,893.

Among the Sensex 30 stocks, Tata Steel had surged 4.5 per cent. HCL Technologies, Tech Mahindra, Wipro, Titan, UltraTech Cement, ICICI Bank andf Larsen & Toubro were the other major gainers. Reliance also added 2.5 per cent to Rs 2,334.On the flip side, PowerGrid Corporation was the sole loser, down 1.7 per cent.

The broader indices have also extended gains. The BSE Midcap and the Smallcap indices were up 2 per cent and 2.1 per cent, respectively. The overall breadth too was extremely positive, with 2,474 advancing shares versus 709 declining stocks on the BSE.

In the primary market, CMS Info Systems was off to a slow start, with subscription of just 20 per cent as of 11:45 AM, with the retail quota subscribed up to 41 per cent.
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Markets at 11 AM

LIVE market updates: The key benchmark indices firmed up in late morning deals on the back of all-round buying, mainly IT and metal shares.

The BSE Sensex was up 938 points at the day's high of 56,760, and the NSE Nifty was on the verge on reclaiming the 16,900-level, up 279 points at 16,893.

The broader indices also held strong gains, the BSE Midcap and the Smallcap indices were up 1.7 per cent and 1.8 per cent, respectively. The overall breadth too was extremely positive with 3.4 advancing shares versus every single declining stock on the BSE.

Ramco Systems was the major gainer in the broader markets, up over 13 per cent. Vardhman Textiles, Reliance Industrial Infra, LG Balakrishnan, Apar Industries, Voda Idea, Godrej Consumer, Indiabulls Realestate, TCI Finance and Vikas Properties were some of the other major gainers.

Recently listed Latent View Analytics was under selling pressure, having shed 17 per cent in the last two trading sessions, as the lock-in period for anchor investors ended. READ MORE

Filatex India, Future Supply Chain Solutions, Hi-tech Pipes, Genesis International, RattanIndia, Future Lifestyle and Future Consumer were some of the other prominent losers.
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Markets at 10 AM

LIVE market updates: The key benchmark indices were seen holding smart gains amid some amount of volatility as bulls and bears slug it out take the upper hand.

The BSE Sensex had rallied 724 points to 56,546, and the NSE Nifty had gained 215 points at 16,829.

Buying was seen across the board with IT and metal shares leading the pack. The IT index had jumped 2 per cent, and the Metal index had soared 3 per cent. The Consumer Durables and Realty indices had also logged smart gains, while the BSE Bankex was up a per cent.

Debutant MapmyIndia soared 53.6 per cent to a high of Rs 1,587 in opening trades versus its issue price of Rs 1,033 per share on the BSE. The stock, however, has pared some gains but still trades 34.4 per cent hjigher at Rs 1,388, with volumes of over 400,000 shares on the BSE so far. READ MORE

In the broader markets, Adani Enterprises (AEL) rose 2 per cent after the company announced that it has received the Letter of Award (LoA) from Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) to implement three major stretches of the greenfield Ganga Expressway on a DBFOT (Toll) basis. READ MORE

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Opening Bell

LIVE market updates: Headline indices started higher on Tuesday, after two days of relentless selling, on the back of broad-based buying. The BSE Sensex climbed 468.5 points at 56,290.5 level while the Nifty50 tested the 16,750-mark, up 128 points.

Soon after, the indices extended gains and hit highs of 56,504 (up nearly 650 points) and 16,807 (up 192 points). 

All the 30 index constituents on the Sensex were ruling higher led by Titan (up 2.5 per cent), HCL Tech, Tata Steel, L&T, and ICICI Bank. On the Nifty, only Eicher Motors was in the negative zone.

In the broader markets, the BSE MidCap and SmallCap indices on the BSE gained up to 1 per cent.

Among individual stocks, the shares of IDBI Bank were up 1 per cent after the bank clarified that Mumbai-based diamond merchant Sanghavi Diamonds has defaulted on loan worth Rs 16.72 crore as against reported amount of Rs 6,710 crore. 

On the downside, the shares of McLeod Russel declined over 4 per cent. The company expects its debt-restructuring plan to be finalised in the next few months.

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Pre-open session

LIVE market updates: Frontline indices were firm in pre-market session on Tuesday, taking cues from Asian peers. The BSE Sensex was up nearly 500 points at 56,320. The Nifty50, on the other hand, reclaimed 16,700-mark.

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LIVE market updates: Asian markets are seeing a bounce-back rally early on Tuesday as investors continue to assess the spread of the Omicron situation. However, as benchmark indices have breached their key support levels on the downside, they may have an uphill task regaining the momentum.

At 8:15 AM, SGX Nifty was quoting at 16,800 compared with Nifty's spot close of 16,614 on Monday.

New listing
CE Info Systems (MapmyIndia) shall be in focus, as the stock makes its debut on Tuesday. The issue had received an overwhelming response from all sets of investors and was subscribed 154.71 times.

Primary Market Update

Supriya Lifescience IPO which has received subscription up to 5.69 times the issue size, so far, will close for subscription today. The retail quota has received bids up to 25.38 times and NIIs 2.9 times.

Global cues

The US markets fell on Monday pressured by rising Omicron cases and a blow to Biden's proposed $1.75 trillion domestic spending bill. All key indices – the Dow Jones, S&P 500 and Nasdaq declined more than a per cent each at close.

In Asia. Nikkei surged as much as 1.7 per cent. Hang Seng advanced 0.6 per cent, and Straits Times jumped 0.8 per cent. Shanghai, Kospi and Taiwan were up 0.3 per cent each.