Sensex ends 477pts higher on all-round buying; Supriya Life up 42% on debut

The BSE Midcap index and Smallcap indices also finished with smart gains of 1 per cent and 1.5 per cent, respectively.

Closing Bell

The key benchmark indices extended gains on Tuesday on the back of all-round buying as investors sidelined Omicron related fears.

The BSE benchmark index, the Sensex, surged to a high of 57,952, and ended 477 points higher at 57,897. The NSE Nifty touched a high of 17,250, and settled with a gain of 147 points at 17,233.

The broader indices also ended with smart gains. The BSE Midcap index was up 1 per cent, and the Smallcap index gained 1.5 per cent.

"The domestic market is drawing strength from the upsurge in global equity indices, which have been steadily moving up in recent sessions after correcting sharply on concerns related to the Omicron variant, likely interest rate hikes in key developed economies going ahead, and the rising inflation world wide," said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities.

Adding: "After a long time, the Nifty succeeded to close above the 20 day SMA which is broadly positive. The short-term texture is bullish but due to gains in recent sessions, bulls may prefer to take a temporary pause near 17275-17300 levels. The trading setup suggests a quick intraday correction if the Nifty trades below 17180. Below this, the correction wave could move up to 17100-17160 levels. On the other hand, above 17200, the uptrend will continue up to 17300 - 17370 levels."

Buzzing stocks of the day

Debutant Supriya Lifescience started trade at the high's of the day - a 55 per cent premium at Rs 425, as against the issue price of Rs 274 per share on the BSE. The stock finally ended at Rs 389 - a 42.1 per cent gain on debut. READ MORE

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

Asian Paints and Sun Pharma were the major gainers among the Sensex 30 stocks, up nearly 3 per cent each. Mahindra & Mahindra, Titan, NTPC and UltraTech Cement also rallied more than 2 per cent each.

Larsen & Toubro, HCL Technologies, Tech Mahindra, Reliance Industries, Infosys, ITC and Wipro were the other prominent gainers.

In the broader markets, telecom stocks were in high demand with the likes of MTNL and TTML locked at their respective 10 per cent and 5 per cent upper circuit limits. OnMobile Global, GTL Infra and ITI were the other major gainers. Among the frontline telecom shares, Vodafone Idea was up 2 per cent, and Bharti Airtel too was up marginally after Department of Telecommunications announced that commercial 5G services will be rolled out in 13 Indian cities in India, including the metropolises, in 2022. READ MORE

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Among sectoral indices, the BSE Energy, IT, Telecom, Auto, Capital Goods, Consumer Durables, Oil & Gas and Power were up over a per cent each.

The overall breadth too was fairly positive, with more than 3 advancing shares for every declining stock on the BSE.
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Markets at 02:30 PM

LIVE market updates: The key benchmark indices came off their respective day's highs and were up 0.6 per cent each.

The BSE Sensex was up 335 points at 57,756, and the NSE Nifty had gained 106 points at 17,192.

All sectoral indices on the BSE were in positive zone. The auto, capital goods and consumer durables indices had rallied nearly 1.5 per cent each. The IT and Realty indices too were up over a per cent each.

In the broader markets, the three stocks from the S&P BSE SmallCap index – Urja Global, Mahanagar Telephone Nigam Limited (MTNL) and 63 Moons Technologies – have zoomed more than 100 per cent in the past one month. READ MORE

Meanwhile, the markets in Europe too have started on a positive note. The DAX 30 and CAC 40 were up 0.4 per cent and 0.3 per cent, respectively, while the FTSE 100 was shut for trading today. The Dow futures were up 23 points, and Nasdaq up 24 points as of 02:15 PM IST.
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Markets at Lunch (01:30 PM)

LIVE market updates: The key benchmark indices continues to hold steady gains in mid-noon deals led by continued buying support in IT and select old economy stocks.

The BSE Sensex touched a high of 57,944, and was up 430 points at 57,850. The NSE Nifty had advanced 132 points to 17,218.

Asian Paints, Titan and UltraTech Cements were the top gainers, up around 2 per cent each. Larsen & Toubro, NTPC and Mahindra & Mahindra were the other prominent gainers.

IT shares led by HCL Technologies, Tech Mahindra and Infosys were up over a per cent each.

The broader indices also continued to hold on to the gains. The BSE Midcap and Smallcap indices were up 1 per cent and 1.4 per cent, respectively. The overall breadth too continued to favour the bulls, with 3.5 advancing shares for every declining stock on the BSE.

In the broader markets, Gokaldas Exports rallied 9 per cent to Rs 338.10, hitting a multi-year high after rating agency ICRA upgraded the company's long-term rating for Line of Credit (LOC) amounting to Rs 425 crore to [ICRA] A- (positive) from [ICRA]BBB (stable). READ MORE

Elsewhere in Asia, Nikkei surged 1.4 per cent. Kospi, Straits Times and Taiwan were up 0.7-0.9 per cent each. China's Shanghai Composite advanced 0.4 per cent, while Hang Seng ended flat.
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Markets at 12 noon

LIVE market updates: Headline indices extended their gains in afternoon trade and were near the day's highs, supported by select counters including Asian Paints, Tech Mahindra, Larsen & Tourbo, and Tata Motors. The BSE Sensex was nearly 500 points higher at 57,921 , and the NSE Nifty was at 17,240, up 153 points.

In the broader market, the BSE MidCap and SmallCap indices continued to outperform benchmark indices. The two were up 0.9 and 1.4 per cent, respectively. 

Auto and IT indices were leading the gains among sectoral indices and were trading over 1 per cent higher on the NSE. Auto majors Tata Motors, M&M, Exide, Bajaj Auto, TVS Motor were trading 0.8-2 per cent higher. 

That apart, Mphasis, Tech Mahindra, HCL Technology, Mindtree, Infosys, Wipro were up 0.8-3 per cent on the NSE. 

Futher, telecom stocks also put on a strong show and were in high demand after the DoT announced that commercial 5G services will be rolled out in 13 cities, including the metropolises, in the new year 2022. READ MORE.

Asian Markets

Shares in Asia largely inched up after the S&P 500 notched yet another record close on the Wall Street overnight. Japan’s Nikkei 225 led gains among the region’s major markets as it gained 1.13 per cent while the Topix index advanced 1.04 per cent.

Elsewhere, Hong Kong’s Hang Seng index sat slightly lower by the afternoon. Hong Kong-listed Chinese tech stocks largely fell, with shares of Tencent down 2.9 per cent while Meituan dropped 2.2 per cent.. Alibaba shares, on the other hand, gained 0.4 per cent. The Hang Seng Tech index declined 0.99 per cent.
 

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Markets at 10 am

LIVE markets updates: Benchmark indices were firmly holding on to their opening gains aided by broad-based buying. The BSE Sensex was up 374 points at 57,795 and the NSE Nifty50 was at 17,200, 114 points higher.

The broader indices were seen putting up an outperformance. The BSE MidCap and SmallCap indices were up 0.9 per cent and 1.2 per cent, respectively. 

Mphasis, Oil, Vodafone Idea, Indian Hotel, RBL Bank, IRCTC, Union Bank, SRF were leading the gains on the BSE MidCap index, up 1.7-3 per cent. 

"The Indian benchmarks made a gap-up opening on Tuesday amid positive global cues. Markets will take support with report that India’s exports in the first weeks of December rose 36.20 per cent coupled with rise in outbound shipments around 27.7 per cent," said Gaurav Garg, Head of Research, Capitalvia Global Research.

Adding: "The overall sentiment, however, may renain cautious as the Centre has extended the existing Covid-related restrictions in the country till January. There may be some buzz in the telecom stocks as the Department of Telecommunications (DoT) said commercial 5G services will be rolled out in 13 cities in India. Our research suggests that the levels of 17,100 may act as important level for the Nifty. If the market sustains 17100, we can expect the Nifty to trade in the range of 17100-17400."

Among indices, Nifty Realty, Consumer Durables, IT and Auto were leading the gains, up 0.7-1 per cent.  The volatility index was down 1.15 per cent as compared to its 6 per cent rise in early morning trade on Monday. 

That apart, the shares of BSE surged 10 per cent to Rs 2,028 on the National Stock Exchange (NSE) in Tuesday’s intra-day trade, after the company announced that its board will meet on February 8, 2022 to consider a bonus issue. READ MORE.

New listing

Supriya Lifescience (SLL) has made a strong market debut, with its shares listing at Rs 425, a 55 per cent premium over its issue price of Rs 274 per share on the BSE. The stock has opened at Rs 421, a 54 per cent higher against its issue price on the National Stock Exchange (NSE). READ MORE.

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Opening Bell

LIVE market updates:  The benchmark indices opened higher on Tuesday supported by robust global sentiment and were rallying up to 0.7 per cent. The BSE Sensex was up 393 points at 57,814 and the Nifty50 was at 17200, up 114 points.

In line with this, broader market indices--BSE MidCap and SmallCap-- were also in the positive zone, trading 0.5 per cent and 0.8 per cent up, respectively. On the NSE, Nifty SmallCap 100 and 250 indices were leading the gains, trading 1.2 per cent up.

On the Sensex, apart from Dr Reddy's Labs, which was down 0.5 per cent, the rest were trading in the green. Asian Paints, HCL Technology, PowerGrid, Infosys, NTPC, Axis Bank, Tech Mahindra, Bajaj Finserv, SBI Bank were the leading gainers, up 0.6-1.4 per cent. 

Among indices, the Nifty IT, PSU Bank and consumer durables were leading the gains, up by nearly 1 per cent each. 

Individually, on the BSE, MTNL, HCC, Siemens were the top gainers, trading 4-10 per cent higher. On the Nifty, Adani Ports, Eicher Motors and Grasim were additonal gainers, up 1.4-1.5 per cent. 

Derivative and technical view

Nifty weekly contract has highest open interest (OI) at 17700 for Calls and 17000 for Puts, while monthly contracts have highest OI at 17000 for Calls and 17000 for Puts. Highest new OI addition was seen at 17000 for Calls and 17000 for Puts in weekly and at 18000 for Calls and 17000 for Puts in monthly contracts. 

FIIs increased their future index long position holdings by -0.67 per cent, increased future index shorts by -2.55 per cent and in index options by 29.21 per cent in Call longs, 14.60 per cent in Call short, 11.85 per cent in Put longs and 28.31 per cent in Put shorts.

The Nifty, according to a note from Geojit Financial Services, is poised to head into the upper range of the 17,100-17,170 band that has been on discussion in the last few days. This opens up chances of 17600, but the brokerage is not convinced of a vertical rise in the index and feels that yet another downswing is still on the cards.

"We will limit the upside expectations to 17300, and will look to remount the bear view if 17170 continues to resist again, or if there is a direct fall back below 17085," the brokerage said in a morning note.
 

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Pre-open session

LIVE market updates: Benchmark indices were holding decent gains in the pre-open session. The BSE Sensex was higher by nearly 300 points at 57,721, while the Nifty50 was at 17,165, up 79 points.

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LIVE market updates: The benchmark indices are expected to open on a positive note on Tuesday deriving support from strong global market cues and robust export data for December.

At 8:14 am, the SGX Nifty was quoting 17,268 level as against Nifty's spot close of 17,086 on Monday.

However, investor sentiment may remain on the weaker side amid fresh covid-19 fears due to the omicron variant. 

RBL Bank may be in focus for the second straight trading session after ICRA and CARE ratings said that the two had put the private bank’s ratings under watch and were closely monitoring developments. 

Tata Group hospitality arm Indian Hotels Company will also be looked out for as the management on Monday told CNBC-TV18 that hotel bookings have slowed down for January and February 2022 in view of the covid-19 situation. 

Meanwhile, India’s exports reportedly jumped by 36.2 per cent in the first three weeks of December 2021 as against a 27.7 per cent growth in the same period last year.

New listing

Supriya Lifescience will be in focus today as the stock makes its debut on the bourses. The IPO was subscribed 71.5 times, with huge demand from the NIIs, subscription of more than 161 times. The Grey Market Premium indicates a possibility of a bumper listing, with premium seen in the range of 40-25 per cent versus the issue price of Rs 274 per share.

Global cues

The US markets ended on a strong note, with the S&P 500 index at a new all-time high on the back of strong holiday season retail sales data.

Oil prices jumped to higher levels even as 1,000 flights were canceled over the weekend on hopes that Omicron may have a limited impact on the economy. Brent Crude surged 3.2 per cent to $78.60 a barrel, and WTI Crude futures rose 2.4 per cent to $75.57 a barrel.

The major markets in Asia this morning were all in the positive zone. Japan’s Nikkei had surged over a per cent. Shanghai Composite and Hang Seng were up around 0.2 per cent each. Straits Times and Taiwan Weighted had advanced more than 0.5 per cent, while Kospi was flat.