Sensex ends 261 pts up at record closing peak of 48,438; IT stocks outrun

Axis Bank ended the session as top Sensex gainers, up 6 per cent at close, followed by gains in HDFC (2.7 per cent), IndusInd Bank (2.7 per cent), and TCS (1.7 per cent)

4:32 PM

MARKET CLOSING COMMENT :: Shrikant Chouhan, Executive VP, Equity Technical Research at Kotak Securities

Today the market closed at the highest point of the day. This was unexpected for after yesterday's massive decline in the US market. The Nifty 50 index and the BSE Sensex 30 closed at 14199.50 and 48437.78, respectively. Financial stocks improved as expected yesterday. Shares of Axis and HDFC Ltd helped the market close higher. The metal index closed in the negative territory after yesterday's excellent performance.

The Nifty and the Sensex have created a big bullish Japanese candle that closed at the previous day's high. It is a reliable and confident close for the market and based on that we can expect the index to reach  the level of 14,350/48,800 in the near term. Support would be at 14,130/48,100 and at 14,050/47,900 levels. Be specific and keep on reducing cost of investment

4:06 PM

MARKET CLOSING COMMENT :: Deepak Jasani, Head of Research, HDFC Securities

Indian equity benchmark indices erased all the intraday losses and rose from intraday lows formed at 1016 am. They ended near the day's high. At close, the Nifty was up 66.60 points or 0.47% at 14,199.50.

Volumes on the NSE were higher than recent average. Among sectors IT, Bank and Media were the main gainers while Metals & Realty were the losers.

 

Nifty has risen for the 10th consecutive session and has closed at almost 14,200 as expected. The momentum is still strong and some more upsides (more in the broader market than the index) is likely over the next few days.

3:59 PM

TECH VIEW :: Rohit Singre, Senior Technical Analyst at LKP Securities

One more positive session and index managed to close a day on fresh highs at 14200 with gains of half a percent and formed a bullish candle on daily chart. Now index has shifted its base to 14100 zone and overall base is still at 14k mark holding above said levels a buy on dip structure is still intact, on the other hand index managed to breach 14200 zone decisively its suggest that ongoing move can push index to 14300-14400 zone in near term. Nifty bank has witnessed fresh breakouts so next leg of rally will include both Private and PSU banks

3:57 PM

MARKET CLOSING COMMENT :: Osho Krishan, Sr. Manager – Equity Research, Anand Rathi Shares

NIFTYIT has outperformed the broader indices as the tech majors are all set to announce their quarterly earnings, followed by the Banking index which indicates a decisive up-move breaching its consolidation and marched higher towards its life-time high zone.  Simultaneously, the benchmark index NIFTY has seen an addition in 14100PE followed by 14000PE suggesting it be a strong base, while 14200 and 14300 could be the next immediate resistance for the next session. The overall trend seems to be positive while any minor correction could be utilized to build up a long position for the near-term trend

3:57 PM

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

Based on the historical standards of valuation, today, equities are at rich level. But these levels are easily extended or cannot be comparable due to one-time economic euphoria from early vaccination, high double digit earnings growth and high liquidity in the market. The ongoing Indian rally is supported by the anticipation of Q3 result, on earnings front we expect green shoots due to uptrend in economic activity and record collections in GST

3:56 PM

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

Bulls put to rest worries across Europe on account of the lockdown as IT & Financials led the charge in Afternoon Trade. The broader market witnessed a renewed interest in Insurance stocks and several Small & Midcap names across sectors were seen buzzing around

3:56 PM

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

The market continues to witness resilience and recovered after an opening with a gap down to stay above the immediate support level of the Nifty 50 Index level of 13,950. While sustaining above 13,950 is the key factor from a short-term perspective. We suggest maintaining above this level market to gain momentum and open the possibility for a movement until 14,250-14,270. The momentum indicators like RSI, MACD to recover, and market breadth to improve, further strengthening a short-term bullish outlook

3:55 PM

MARKET INSIGHTS :: Nifty Bank ends at a 1-yr closing high

>> Index is now less than 900 pts away from record high of 32,600

3:53 PM

Market stats :: Market breadth remains in favours of advances

3:51 PM

S&P BSE MidCap extends gains; InfoEdge rallies 14%, MRPL 7%

3:49 PM

Index contributors :: IT, bank stocks lift index

3:47 PM

Sectoral trends on NSE at Close

3:46 PM

Sensex Heatmap :: Axis Bank soars over 6%, ONGC sown 2%

3:35 PM

CLOSING BELL

>> The frontline S&P BSE Sensex ended the choppy session near record high levels of 48,486.24 on the BSE, at 48,438 levels, up 261 points, or 0.54 per cent.

>> The Nifty50, on the other hand, added 66.6 points, or 0.47 per cent, in Tuesday's session to close at 14,199 levels. The index hit record peak of 14,215.6.

3:26 PM

New investors flock to warehousing as existing ones rush for exit door

Last month, Singaporean sovereign fund GIC announced a $750-million joint venture (JV) with logistics investor-cum-developer ESR to set up warehouses in the country. Though GIC had signed a similar JV with K Raheja Corp in 2018, the JV is yet to make any investment. READ MORE

3:20 PM

Nifty tops 14,200 for the first time

3:16 PM

Sensex at day's high

3:14 PM

Corporate Action :: India Cements promoters release pledge on 2.91% equity on December 31

3:11 PM

Wipro advances 3%, hits fresh high; trades above share buyback of Rs 400

IT services major Wipro's share buyback programme commenced on December 29 and will close on January 11, 2021. In November, shareholders had approved the buyback plan for purchase of up to 237.5 crore equity shares at Rs 400 per share, aggregating to an amount of up to Rs 9,500 crore. READ MORE

3:02 PM

Stocks that hit 52-week high on BSE today

COMPANY	PRICE(rs)	CHG(%)
TRIDENT	15.44	19.97
ALKYL AMINES	5212.10	17.10
RAIL VIKAS	27.75	15.38
AAVAS FINANCIERS	2056.85	9.85
M R P L	39.60	9.09

2:55 PM

BREAKING :: UK govt offers firms £4.6bn in new lockdown grants

>> Businesses in retail, hospitality and leisure will receive new grants to help them keep afloat until Spring, chancellor Rishi Sunak has said.

 

>> The grants will be worth £9,000 per property, the Treasury says.

2:50 PM

This textile stock has rallied over 100% in 2 months as promoters up stake

Shares of Filatex India hit a fresh 52-week high of Rs 57.90 on the BSE in the intra-day trade on Tuesday, having more-than-doubled in the past two months, after promoters hiked stake in the company via open market. In the past two months, the stock of the textile company​ has​ rallied 111 per cent from ​a ​level of Rs 27.40, as compared to​ a​ 23-per cent surge in the S&P BSE Smallcap index. Between November 19 and December 22, the promoters of Filatex India purchased 11.93 million equity shares, worth Rs 41 crore, of the company via open market, according to the disclosure made by the company to the stock exchanges. READ MORE

2:40 PM

Diversification, deposit growth put IDFC First ahead of Bandhan Bank

Bandhan Bank and IDFC First Bank marked their fifth year of operations in 2020. The interesting similarity between the two is that both took to scale through inorganic routes.

 

Bandhan’s acquisition of Gruh Finance in 2018 brought in a housing finance portfolio and the IDFC Bank’s merger with Capital First (now called IDFC First Bank) gave it the much-needed retail facelift and also ushered organisational changes. READ MORE

2:26 PM

Sector check :: Nifty Bank rises over 1%; Axis Bank jumps 6%, RBI Bank 5%

2:20 PM

HDFC's Q3 biz update confirms recovery; re-rating in HFCs likely: Analysts

Housing sales have picked up in recent months as the economy slowly limps back to normalcy. Global brokerage Jefferies’ proprietary housing affordability index is at the lowest (hence the best) level in the past two decades, and the numbers coincide with the bottom of the previous property cycle in 2003/04. READ MORE

2:10 PM

Bulls back in control :: Indices hit fresh record highs

>> S&P BSE Sensex hits new high of 48,317.69

>> Nifty touches 14,166.4

2:01 PM

SECTOR WATCH:: IT stocks extend their rally

1:48 PM

Indus Towers surges 10% on heavy volumes, hits 52-week high

Shares of Indus Towers (formerly Bharti Infratel) jumped 10 per cent to hit a 52-week high of Rs 264.70 on the BSE in Tuesday's intra-day trade on the back of heavy volumes. The stock surpassed its previous high of Rs 256.80 touched on January 10, 2020. The trading volumes on the counter jumped over three-fold as a combined 10 million equity shares changed hand on the NSE and BSE till 01:02 pm. At the same time, the S&P BSE Sensex was up 0.18 per cent at 48,261. READ MORE

1:36 PM

IT Q3 preview: Large deal wins to drive earnings but margins may take a hit

In a departure from past trend, Indian IT companies may post a strong performance for the third quarter of the financial year 2021 (Q3FY21) on account of healthy order pipeline, large deal signings and going by strong earnings from Accenture, believe analysts. Further, improvement in demand post Covid-19, acceleration in adoption of public cloud model, lower furloughs and decent growth in sectors such as consumer, technology and healthcare are likely to add to the revenues of the IT companies, they say. READ MORE

1:31 PM

TechM partners with College of Military Engineering, Pune for defence solutions

IT major Tech Mahindra on Tuesday said its research and development arm, Makers Lab, has collaborated with the College of Military Engineering (CME), Pune to address challenges in the field of defence through technological innovations. CME will leverage the partnership to address critical military problem statements and be future-ready using next-generation technologies of Artificial Intelligence (AI) and Robotics, a statement said. (Source: PTI)