RIL, HDFC, TCS power 673-pts rally in Sensex; Nifty tops 17,800; banks soar

The broader markets underperformed the benchmarks by a wide margin. The BSE MidCap and SmallCap indices ended with meagre gains of 0.05 per cent and 0.4 per cent, respectively.

Closing Bell

Investors looked past the surging coronavirus cases in the country and took benchmark indices higher for a third consecutive day on Tuesday. After hitting a low of 59,084 in early deals, bulls lifted the BSE Sensex index over 853 points from the day's low to hit a high of 59,937.  

By close, the index stood at 59,856, up 673 points or 1.14 per cent, against Monday's close. It's NSE counterpart Nifty50, too, zoomed 181 points to settle above the 17,800-mark at 17,807. This is the indices highest level since November 22. 

As per tech charts, the Nifty index has formed a bullish candle for a third consecutive session and has formed base near 17,700-17,600 zone. "Holding above the said support zone may extend the rally towards the 18,000-mark. While, the immediate hurdle is near 17,900-18,000 mark, the overall structure indicates buy-on-dip opportunity," says Rohit Singre, Senior Technical Analyst at LKP Securities.

NTPC (up over 5 per cent) was the top Nifty gainer, followed by ONGC, PowerGrid, SBI, Titan Company, and RIL. Among heavyweights, though, RIL, HDFC, TCS, ICICI Bank, SBI, and HDFC Bank were the major contributors towards the indices' gains today. 

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On the downside, Tata Motors (down 1.7 per cent), Coal India, Sun Pharma, Shree Cement, and Tata Consumer Products capped upside. 

The broader markets, however, underperformed the benchmarks by a wide margin. The BSE MidCap and SmallCap indices ended with meagre gains of 0.05 per cent and 0.4 per cent, respectively.

However, among individual stocks, the shares of Hinduja Global Solutions (HGS) surged 19 per cent to hit a new high of Rs 3,948 on the BSE in Tuesday's intra-day trade after the company announced that its board will meet on Thursday January 06, 2022 to consider a proposal for bonus issue of equity shares. READ MORE

That apart, shares of sugar companies were in demand and rallied up to 10 per cent amid heavy volumes on strong outlook. Triveni Engineering & Industries, (up 12.4 per cent intra-day) and Balrampur Chini Mills (up 15 per cent intra-day) hit their respective record highs today. READ MORE

On the contrary, shares of Marico dipped 3 per cent to Rs 498 on the BSE in the intra-day trade after the personal products maker said that its volume growth is expected to be flat in Q3FY22. READ MORE

Among sectors, the Nifty Oil and Gas index closed 1.4 per cent higher while the Nifty Pharma index fell around 1 per cent.

The overall market breadth on the BSE was moderately positive with over 1,800 advancing stocks against over 1,400 declining stocks. The volatility index, India VIX, cooled off 2 per cent today.

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Markets at 02:30 PM

LIVE market updates: The key benchmark indices firmed-up again in trades, and were hovering near the high's of the day, on the back of unabated buying support in financial, PSU shares and select index heavyweights like Reliance Industries and TCS.

The Sensex was up 482 points at 59,665, and the NSE Nifty had gained 124 points at 17,750.

The BSE PSU index had surged 1.5 per cent and was one of the top gainers in trade today. NTPC had soared 5 per cent to Rs 132. Hindustan Copper too had rallied nearly 5 per cent. BEML, ONGC, PowerGrid Corporation, SBI and Bharat Electronics had rallied 2-4 per cent each.

Others like, Shipping Corporation of India, Hindustan Aeronautics, Maha Bank, Indian Tourism Development, Bharat Dynamics, Gujarat Gas, Mazagon Docks and RCF were the other prominent gainers.

Among other sectors, the BSE Bankex, Power and Energy indices were also up over a per cent each. On the flip side, the Healthcare, Metal and Realty indices were few of the notable losers, down over 0.5 per cent each.

Similarly, the broader markets too were under-performing, with the BSE Midcap index down 0.1 per cent, and the Smallcap index up 0.1 per cent as against the 0.7 per cent rise in the BSE Sensex.

Recently listed, HP Adhesives was locked at the 5 per cent upper circuit for sixth day in a row following its strong debut. The stock shall be transferred from trade for trade segment (T Group) to Rolling segment with effect from January 10, 2022. READ MORE

Meanwhile, markets in Europe had started trade on a positive note. The FTSE 100 had surged 1.3 per cent, and the CAC 40 had gained 0.7 per cent. DAX 30 was up 0.2 per cent.
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Markets at Lunch (01:30 PM)

LIVE market updates: The key benchmark indices had marginally come-off the day's high in mid-noon deals amid selective profit-taking in IT shares.

The BSE benchmark index, the Sensex, which touched a high of 59,644, was up 325 points at 59,508. The NSE Nifty had added 71 points to 17,697.



Power producers, NTPC and PowerGrid Corporation continued to remain the major gainers, up 3.8 per cent and 2. per cent, respectively. State-run SBI was the other major gainer up 2.2 per cent.

On the flip side, Sun Pharma and UltraTech Cement slipped a per cent each. IndusInd Bank and Infosys were the other notable lsoers.

In the broader markets, Mirza Internataional hit a fresh 4-year high on soaring 20 per cent in intra-day trades on the BSE after the company said one of its promoters bought 100,000 equity shares via open market recently. The stock has more-than-doubled in just two months. READ MORE

Affle India up 11.3 per cent, Hinduja Global Solutions, Balrampur Chini, Varroc Engineering, Dhampur Sugars, Triveni Engineering, Banswara Syntex, Aarey Drugs Pharma, Indo Rama Synthetics, Orissa Minerals Development Company, ARSS Infra, Magadh Sugar Energy, Shree Rama Multi Tech, KM Sugars, Uttam Sugars, Talbros Auto and Shakti Sugars were the other major gainers.

Wheras, Vedanta, MTNL, Suzlon and Rajesh Exports slipped 5 per cent each. Hindustan Construction, Carborundum Universal, Minda Industries, MSP Steel, Essar Shipping, HT Media, RS Software, TTL, Bal Pharma, Oriental Timex, HB Stockholdings, Salona Cotspin, Century Extrusions, Digispice Technologies, Websol Energy Systems, Smartlink Holdings and Sintex Plastics were the other significant losers.

The overall breadth was marginally positive - out of 3,442 stocks traded on the BSE, 1,754 had so far advanced and 1,554 declined on the BSE.
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Markets at 12 noon

LIVE market updates: The benchmark indices were steady in noon trade around the same levels. The BSE Sensex was at 59,557, up 374 points, and the NSE Nifty was up 95 points at 17,721.

The broader markets, on the other hand, were seen underperforming the benchmarks and were marginally higher by up to 0.14 per cent. In comparison, the Sensex and Nifty were up 0.6 per cent.

On the BSE MidCap index, Rajesh Exports, MindTree, Tata Communications, Tata Consumers, Torrent Pharma, Glenmark, RBL Bank and Vodafone Idea were the top losers, down between 1.3-5 per cent. Meanwhile, the gainers included Aditya Birla Fashion, Astral, AU Small Finance Bank, Yes Bank, Sona BLW, and Torrent Power, up between 2.5-4 per cent. 

Sectorally, the shares of sugar companies were in demand in trade and had rallied up to 10 per cent amid heavy volumes on strong outlook. Triveni Engineering & Industries, soared 9 per cent to Rs 244, and crossed its earlier high of Rs 235 hit on December 28, 2021 on the BSE. READ MORE.

Among stocks, banking stocks and heavyweights RIL, HUL and HDFC continued their strong momentum and were supporting the indices' up move. 

On the flip side, shares of Vedanta were trading 5 per cent lower after the mining major reported its cast metal aluminum production data of Oct-Dec."The cast metal aluminium production at our smelters stood at 579,000 tonnes in Q3 FY22, higher 16% in comparison to Q3 FY2021 and 2% as compared to Q2 FY2022," it said in a notice. 

Asian Markets

Shares in Asia-Pacific were mixed in Tuesday trade, as data showed increasing Chinese factory activity growth in December.

Hong Kong’s Hang Seng index fell 0.15 per cent. Mainland Chinese stocks also declined. The Shanghai composite slipped 0.36 per cent, while the Shenzhen component shed 0.79 per cent.

Elsewhere, the Nikkei 225 in Japan climbed 1.77 per cent, while the Topix index gained 1.91 per cent. Shares in Japan and Australia started their trading year on Tuesday following a Monday holiday. South Korea’s Kospi shed 0.16 per cent.  

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Markets at 11 AM

LIVE market updates: Frontline indices were steadily holding gains in the morning trade on the back of support from index heavyweight Reliance (up 1 per cent) and select banking counters such as SBI, Axis Bank, ICICI Bank and Kotak Bank.

The BSE Sensex was up 319 points at 59,502, while the NSE Nifty was at 17,711, higher by 85 points.

In the broder market, the BSE MidCap and SmallCap indices were 0.3 and 0.4 per cent higher, respectively. 

Among sectors, IT and Pharma continued to be under pressure, and the two indices were down 0.1 and 0.4 per cent, respectively, on the NSE. Metal index was the other loser, down 0.34 per cent.

Banks and Financial indices, on the other hand, were firm in trade and were the leading gainers. 

That apart, telecom services provider Tata Teleservices Maharashtra (TTML) and auto components maker Automotive Stampings & Assembles (ASL), both shares of the Tata Group have zoomed over 2,400 per cent in the past one year. TTML (up 5 per cent) and ASAL (up 5 per cent) were locked at their respective upper circuit limits, with no sellers seen at these counters. READ MORE.
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Markets at 10 AM

LIVE market updates: The benchmark indices extended opening gains and were rallying 0.5 per cent higher. The BSE Sensex was 332 points up at 59,515 and the NSE Nifty was at 17,714, higher by 90 points.

Energy majors NTPC and PowerGrid were the top gainers on the Sensex, up over 3 per cent each, followed by banking stocks such as Axis Bank, SBI Bank, ICICI Bank, and heavyweight Reliance Industries. 

On the flip side, IT stocks Infosys, Wipro and HCL Technology were down between 0.6-0.8 per cent. Pharma stocks Sun Pharma and Dr Reddy's were also in the red zone. 

Meanwhile, the broader market was also positive. The BSE MidCap and SmallCap indices were up 0.1 and 0.3 per cent, respectively. 

Sectorally, Nifty PSU Bank, Auto, Oil & Gas were leading gainers, up between 0.3-1 per cent. On the flip side, IT, pharma, healthcare and FMCG were the losers, down between 0.2-0.6 per cent. 

That apart, the shares of Hinduja Global Solutions (HGS) surged 19 per cent to hit a new high of Rs 3,948 on the BSE in Tuesday’s intra-day trade after the company announced that its board will meet on Thursday January 06, 2022 to consider a proposal for bonus issue of equity shares. READ MORE. 
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Opening Bell

LIVE market updates: The benchmark indices started higher on Tuesday extending the previous day's strong rally and deriving support from robust global cues. The BSE Sensex was at 59,375, up nearly 200 points, while the Nifty50 was up 60 points at 17,689. 

In the broader market, the BSE MidCap and SmallCap indices were also in green and were up 0.4 and 0.6 per cent, respectively.

Among the Sensex-30 constituents, NTPC, PowerGrid, M&M, Axis Bank, Maruti, Bajaj twins, ITC, Reliance, and SBI Bank were the top gainers, up between 0.6-2.4 per cent. On the Nifty, ONGC, IOC and BPCL were the additonal gainers. HCL Technology, Tech Mahindra, Wipro, Asian Paints, Ultratech Cement, meanwhile, were the top losers on the Sensex. 
 

All sectoral indices were in the green on the Nifty except IT, which was 0.1 per cent lower. The Oil &Gas, and Bank indices were leading the gains. 
 

Notably, among stocks, Tata Motors was down 1 per cent after CLSA downgraded its rating on the stock to 'sell' from 'buy' noting that a weak demand trend persists in the automobile sector, reports said.

On the other hand, Wockhardt was up nearly 3 per cent. The company’s board is scheduled to meet on January 06 to consider various fund raising options for the company.

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Pre-open session
 

LIVE market updates: The benchmark indices indicated a positive start on Tuesday as the BSE Sensex was up nearly 200 points at 59,382, while the NSE Nifty was at 17,694, higher by 69 points, in the pre-open session.  

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LIVE market updates: The benchmark indices may open on a muted note on Tuesday, as per indications from the SGX Nifty January futures. The index was quoting at 17,678, up marginally by 14 points from Nifty's spot close yesterday.

The markets, however, may take support from strong global cues and robust, domestic commercial export data for December.

Among stocks, Reliance may be eyed as the company's telecom arm Reliance Jio has received approval enabling it to use equipment from various vendors, including Ericsson, Nokia Networks, Cisco, and Dell, which have been endorsed as a ‘trusted source’ by the National Security Council Secretariat. 

Global cues

The US markets clocked record highs in trade on Monday with Apple becoming the first company to hit the $ 3 trillion market capitalization mark. Despite curbs and restrictions in the face of rising Omicron cases, market analysts were optimistic that economic activity might not be hampered significantly. The Dow Jones and the S&P 500 gained 0.7 per cent and 0.6 per cent, respectively, while the Nasdaq soared 1.2 per cent at close.

Oil prices also surged higher a day ahead of the OPEC+ meeting on hopes of demand recovery. On Monday, Brent Crude jumped 1.5 per cent to $ 78.98 a barrel, and WTI Crude added 1.2 per cent to $ 76.08 a barrel.

This morning in Asia, the major markets were mostly up. Nikkei and Taiwan Weighted index were up 1.5 per cent and 1 per cent, respectively. Straits Times had advanced 0.7 per cent, and Hang Seng had added 0.3 per cent. However, Shanghai Composite and Kospi were down 0.1 per cent each.