Sensex zooms 651 pts; Nifty above 18,000; all sectors end in the green

Closing Bell

Defying weak global cues and surging coronavirus cases domestically, equity markets soared on Monday with the Nifty50 index reclaiming its crucial 18,000-mark on a closing basis.

The 50-pack index on the National Stock Exchange hit an intra-day high of 18,017, before settling 191 points, or 1 per cent, higher at 18,003 today. The index was mainly lifted by automobile counters, along with select financials. 

Thirty five of the 50 index constituents ended the session in the green led by UPL (up 4 per cent), Hero MotoCorp, Titan, Maruti Suzuki, Tata Motors, SBI, and L&T. On the downside, Wipro (down 2.5 per cent), Divis Labs, Nestle India, Tata Consumer Products, Asian Paints, and Power Grid remained the top drags.

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Meanwhile, the BSE Sensex index ended at 60,396, up 651 points or 1.09 per cent on th BSE. It hit an intra-day high of 60,427.

In the broader markets, the BSE MidCap index added 0.7 per cent while the BSE SmallCap index gained 1.2 per cent.

"Indian markets opened on a positive note following mixed to marginally positive Asian market peers as investors await more US inflation data. During the afternoon session, markets were trading in fine fettle as sentiments were upbeat after three months of selling spree, foreign investors have turned net buyers in the first week of January by infusing Rs 3,202 crore in Indian equities. Additional support came as total employment generated by nine select sectors stood at 3.10 crore in the July-September 2021 quarter, which is 2 lakh more than that of the April-June period, according to a quarterly employment survey by the labour ministry. Traders also took solace as India has begun administering booster doses of the Covid-19 vaccine to frontline workers and vulnerable elderly people," said Narendra Solanki, Head- Equity Research (Fundamental) at Anand Rathi Shares & Stock Brokers.



VK Vijayakumar, chief investment strategist at Geojit Financial Services added: Surging Covid cases are being ignored by markets globally since lockdowns and restrictions on economic activity are not expected and the Omicron variant though fast spreading is not virulent and hospitalization cases are very low. Market expects the Q3 results starting this week to be very good, particularly for IT and financials. Market is discounting good results in advance.

Among sectors, the Nifty PSU Bank index was the leading outperformer with a 3.3-per cent rally on the NSE. Among individual shares, Bank of Baroda, PNB, and Canara Bank rose up to 5 per cent amid media reports that the government may considering increasing FDI limits in the sector nduring Budget 2022.

That apart, the Nifty Realty, Bank, and Auto indices gained around 2 per cent each.

Overall, the market breadth favoured buyers with over 2,600 advancing stocks on the BSE as against less than 1,000 deeclining stocks. 979 stocks hit upper circuit on the BSE today while 172 were locked at lower circuit.

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Markets at 02:30 PM

LIVE market updates: The key benchmark indices were seen hovering near the highs of the day on the back of unabated buying support in the market.

The BSE Sensex was up 557 points at 60,302. The NSE Nifty had advanced 164 points to 17,977.

The broader markets were also holding steady gains, with the BSE Midcap and the Smallcap indices up 0.6 per cent and 1.2 per cent, respectively. The overall breadth was extremely positive, with nearly three advancing shares for every declining stock on the BSE.

A total of 929 stocks were locked at the respective upper limits, while 170 stocks had hit lower circuits on the BSE.

In the broader markets, Greaves Cotton had zoomed over 17 per cent in trades so far. The stock has logged solid gains so far this year on the back of strong sales by its e-mobility arm. Alok Textiles, Reliance Industrial Infrastrucutre, Man Infraconstruction, Garware Hi-tech, JP Power, Privi Speciality, Poonawala Fincorp, Sadbhav Engineering, Astex Lifesciences, Himadri Speciality, Pil Italica, India Nippon Electricals, 20 Microns, Vascon Engineers and Chemfab Alkalis were the other major gainers.

On the other hand, GNA Axles has slumped over 13 per cent. Maximus International, Talbros Automotive, Welspun Investments, Vardhman Holdings, Anand Rayons, BGR Energy, HB Stockholdings, Shriram EPC, Gautam Gems, GTL, Garden Reach Shipbuilders, Hikal and L&T Technology Services were some of the other losers.

Shares of One97 Communications, the parent company of digital payments major Paytm, hit a new low of Rs 1,181.10, after global brokerage Macquarie maintained its ‘underperform’ rating on the stock and reduced its target price to Rs 900. READ MORE

However, few of the other recently listed shares had logged strong gains. SJS Enterprises, Latent View, Tarsons, RateGain and Supriya Life were up 7-9 per cent each.
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Markets at Lunch (01:25 PM)

LIVE market updates: The key benchmark indices continue to hold steady gains backed by buying support in financials and select index heavyweights like Infosys and ITC.

The BSE Sensex was up 485 points at 60,230, and its counterpart NSE Nifty had gained 146 points at 17,959.

Infosys and Maruti were the biggest per centage gainers among the Sensex 30 shares, up around 3 per cent each. The IT major alone had contributed one-third of the gains for the BSE benchmark.

Titan, Kotak Bank, Mahindra & Mahindra, ITC, ICICI Bank, HDFC, SBI, Larsen & Toubro, Tech Mahindra and Axis Bank were the other prominent gainers.

On the flip side, Wipro had slipped over 2 per cent. Asian Paints and Nestle India were the other prominent losers.

Among sectoral indices, the BSE Auto index had rallied 1.7 per cent. The Realty, IT and Capital Goods indices were up 1.3 per cent each. The Bankex was also up over a per cent.

In the broader markets, shares of GRM Overseas were locked at the 5 per cent upper circuit at Rs 815.55, also its new life-time high. The stock price had rallied over 200 per cent in the last two months, post a bonus issue and stock split. READ MORE

Meanwhile, major markets in Asia had also logged decent gains. Hang Seng gained more than a per cent. Straits Times was up 0.7 per cent. Shanghai Composite and Taiwan added 0.4 per cent each. Kospi, however, slipped a per cent.
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Markets at 12 noon

LIVE market updates: Frontline indices were sligthly off the day's highs and were up 0.5 per cent. The BSE Sensex was up 307 points at 60,052 and the NSE Nifty was higher by 98 points at 17,911.

Broader indices BSE MidCap and SmallCap were also higher by 0.4 and 0.9 per cent, respectively. Among MidCaps, Adani Power, SVJN, BHEL, Federal Bank, GMR Infra, RBL Bank, Gujarat Gas, Oil India and Bharat Forge were among the top gainers, up between 2.3-7 per cent.

Adani Power is rallying 7 per cent higher after the Adani Group announced setting up its proposed new subsidiary Adani New Industries Ltd (ANIL) to undertake green hydrogen projects, generation of low carbon electricity and manufacture of wind turbines, solar modules and batteries. 

Meanwhile, among indices, auto and realty continued to lead the gains and the two were up over 1 cent on the NSE.  

European markets

European stocks are expected to open in positive territory on Monday as global markets look out for key U.S. inflation data this week and more comment from U.S. Federal Reserve Chairman Jerome Powell on interest rate hikes.

The U.K.’s FTSE index is seen opening 16 points higher at 7,490, Germany’s DAX 12 points higher at 15,946, France’s CAC 40 up 16 points higher at 7,223 and Italy’s FTSE MIB 26 points higher at 27,463.

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Markets at 11 AM

LIVE market updates: The headline indices were steady in the morning trade with support from financial stocks and some select counters. The BSE Sensex was up 497 points at 60,242, while the NSE Nifty was 151 points higher at 17,964. 

Gains in Maruti Suzuki, Infosys, ITC, ICICI Bank and HDFC were aiding the indices' up move. On the flip side, Wipro, Asian Paints, Dr Reddy's, Nestle, Sun Pharma, RIL, HUL, and Ultratech Cement were the losers on the Sensex, down between 0.2-2 per cent. 

On the Nifty, UPL, HeroMoto Corp and Tata Motors were the additonal top gainers, up 3.6 per cent, 2.6 per cent and 2.1 per cent, respectively. 

Sectorally, banks, auto and realty indices on the NSE were trading firmly higher. Pharma and Healthcare indices, on the other hand, were in the red zone.

Meanwhile, shares of RK Damani-owned Avenue Supermarts, operator of D-Mart chain of stores, slipped in trade on Monday as subdued growth in December quarter (Q3FY22), despite being a normal period from Covid perspective, soured sentiment. READ MORE.

Further, shares of Greaves Cotton hit an all-time high at Rs 193.30, surging 11 per cent on the BSE on the back of heavy volumes. The stock surpassed its previous high of Rs 184.25 registered on June 24, 2021. READ MORE.
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Markets at 10 AM

LIVE market updates: The benchmark indices were firmly holding their opening gains amid broad based buying and gains in heavyweights ITC, Infosys and HDFC Bank. The BSE Sensex was up 464 points at 60,209, and the NSE Nifty was higher by 136 points at 17,949. The two indices were up 0.8 per cent each

In the broader markets, the BSE MidCap and SmallCap indices were also higher by up to 0.9 per cent. 

Among the top gainers were Maruti (up 3.6 per cent), ITC (up 2.1 per cent) Infosys (up 1.7 per cent), and banking stocks on the Sensex. 

Further, shares of Tata Consultancy Services (TCS) jumped 3 per cent to Rs 3,979.90 on the BSE after the India's largest information technology (IT) firm said its board will consider a buyback proposal on Wednesday, January 12, 2022. The stock traded close to its record high level of Rs 3,990 touched on October 8, 2021. READ MORE.

Among indices, IT and Pharma were largely muted, while others were trading higher in the green zone, led by banks (up 1.4 per cent), auto (up 1.7 per cent) and realty (up 1.5 per cent) indices on the NSE. 

Realty company Oberoi Realty was the top gainer up 2 per cent on the back of strong bookings for December quarter. The company reported an over two-fold jump in its sales bookings at Rs 1,965 crore for the quarter on higher demand. 
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Opening Bell

LIVE market updates: The benchmark indices opened fairly higher on Monday extending gains of the previous session. The BSE Sensex was up 459 points at 60,203, while the NSE Nifty was at 17,937, higher by 124 points.

In the broader market, the BSE MidCap and SmallCap indices were also in green and were up 0.5 and 0.9 per cent, respectively. 

Among the Sensex-30 shares, ICICI bank, Maruti, ITC, Kotak Bank, HDFC Bank, SBI, TCS, Bajaj Twins, and Axis Bank were the top gainers, up between 0.8-1.6 per cent. On the Nifty, UPL, Hero Moto Corp and HDFC Life were the additional gainers.

Meanwhile, Wipro, Asian Paints, and Tata Steel were the top losers on the Sensex. Additonal losers on the Nifty included Hindalco, ONGC, JSW Steel and Divis Labs. 

All sectoral indices were also trading higher except Metal on the NSE, down 0.05 per cent. Banks and Financials were the leading gainers. 

Among stocks, TCS was the top gainers, up 1.8 per cent as the company said its board plans to consider a share buyback proposal on January 12 when it meets to announce the Q3 results.

On the flip side, pharma company Biocon was down nearly 2 per cent, after the US FDA  rejected approval of an application for Insulin Aspart filed by its subsidiary Biocon Biologics' partner Viatris Inc.
 

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Pre-open session

LIVE market updates: The benchmark indices were firmly positive in the pre-open session with the BSE Sensex up 300 points at 60,047, and the NSE Nifty at 17,891, higher by 79 points. 

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LIVE market updates: The benchmark indices are expected to start on a slighlty positive note on Monday given the indications by the SGX Nifty futures that quoted 17,930 level, higher by 70 points as compared to Nifty's spot close on Friday. 

The markets had ended a choppy Friday session in the green zone higher by up to 0.4 per cent.

This week's action will largely be led by the Q3 earnings season with IT sector earnings kickstarting, followed by bank major HDFC Bank. India's inflation numbers will also be in limelight.   

Among stocks today, TCS may likely be in focus as the company’s board will consider a proposal for share buyback on January 12, the day it announces Q3 results.

Global cues

Unlike India, the US markets kicked-off 2022 with weekly losses hit by fears of faster-than-expected interest rate hikes. For the week, Dow Jones was down 0.3 per cent. The S&P 500 and Nasdaq tumbled 1.9 per cent and 4.5 per cent, respectively.

Meanwhile, oil prices rose up to 5 per cent last week amid Kazakhstan unrest, Libya supply outages and potential impact on Federal Reserve policy.

This morning the major markets in Asia were mixed. Straits Times had rallied over a per cent. Hang Seng and Taiwan were up 0.6 per cent and 0.1 per cent, respectively. On the other hand, Kospi had shed 1.4 per cent, and Shanghai Composite had slipped 0.4 per cent.  Nikkei was flat.