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Bull run continues for 3rd day; Sensex ends 254 pts up; IT, metal stks jump

Among sectoral indices, the Nifty Metal index remained the star performer today, closing 1.8 per cent higher, followed closely by the Nifty IT index (up 1.6 per cent).

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MARKET WRAP | Markets | Sensex

SI Reporter  | New Delhi 

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EVENT HIGHLIGHTS

MARKET LIVE: Sensex rises 300 pts, Nifty tops 15,150; IT, pharma stks lead
Stock market updates: Bulls were in command of the equity markets for the third day in a row as exuberance returned to the Street amid marginal ease in bond yields and cheap valuations. The US Treasury yield was last quoting at 1.55 per cent while domestic 10-year government bond yield was at 6.2 per cent. 

Amid a fall in volatility, the benchmark S&P BSE Sensex advanced 254 points, or 0.5 per cent, to end at 51,279.5 levels. On the NSE, the Nifty50 index ended at 15,175 levels, up 76 points or 0.51 per cent. The Sensex and the Nifty hit their respective intra-day highs of 51,430 and 15,218.

JSW Steel, Tata Steel, Hindalco, Bajaj Finance, Tata Motors, Sun Pharma, and Tech Mahindra, all up between 2 per cent and 3 per cent, were the top gainers on the Nifty, while Axis Bank, HCL Tech, Bajaj Auto, Infosys, and Dr Reddy's Labs were the additional top performing stocks on the Sensex.

On the downside, SBI Life, ONGC, Indian Oil Corporation, HDFC Life, UPL, GAIL, Coal India, ITC, Reliance Industries, and HDFC Bank were the top laggards on the indices, down up to 2.5 per cent.

Furthermore, the S&P BSE MidCap index ended 0.7 per cent higher today, while the S&P BSE SmallCap index settled 0.9 per cent higher. Hudco, L&T Infotech, IDBI Bank, MphasiS, Biocon, MTNL, ITDC, Meghmani Organics, and Morepen Labs, that surged in the range of 3 per cent to 20 per cent, were some of the outperforming stocks in the broader markets.

Among sectoral indices, the Nifty Metal index remained the star performer today, closing 1.87 per cent higher, followed closely by the Nifty IT index (up 1.67 per cent), and the Nifty Pharma index (up 1.48 per cent). On the downside, the Nifty PSU Bank index ended 0.15 per cent lower.  

Global markets
Asian stocks bounced back from a two-month low on Wednesday after global bond yields eased following a well-received US debt auction, and as Chinese shares found a footing after recent steep falls on policy tightening worries.

Japan’s Nikkei was little changed while MSCI's ex-Japan Asia-Pacific shares index rose 0.2 per cent. The CSI300 index of mainland China's A-shares rose 0.4 per cent.

In Europe, the pan-European STOXX 600 index edged 0.2 per cent higher. The Dow Jones Futures were last up around 100 points.

(With inputs from Reuters)

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