You are here: Home » Markets » News

Financial, RIL drive Sensex 661 pts up; Nifty tops 14,500; TCS falls 4%

The Nifty Bank, Private Bank, Financial Services, Metal, and Realty indices gained between 3 per cent and 4 per cent.

Topics
MARKET WRAP | Markets | TCS

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

stock market, markets, bull, bear, trading, nse, bse, sensex, nifty, rally, coronavirus, covid, lockdown
Illustration: Binay Sinha
Stock market updates: Breaking away from a range-bound trade, the benchmark indices zoomed over 1 per cent in the last-hour of trade on Tuesday amid broad-based buying. Barring the Nifty IT and Pharma indices, which ended over 3 per cent and 1 per cent lower, respectively on the back of profit-booking, all other sectoral indices ended the day in the green.

While the Nifty PSU Bank index surged 4 per cent after nursing a 9 per cent cut on Monday, the Nifty Bank, Private Bank, Financial Services, Metal, Auto and Realty indices gained between 3 per cent and 4 per cent. The Nifty FMCG index, meanwhile, ended 0.6 per cent higher. 

Among the frontline indices, the BSE barometer jumped 661 points, or 1.4 per cent, to settle the day at 48,544 levels. In the intra-day deals, the index had hit a high and low of 48,627 and 47,775, respectively.

On the NSE, the index closed the day at 14,505 levels, adding 194 points or 1.36 per cent. The index's high and low of the day were 14,529 and 14,275, respectively.

Mood in the broader market too remained upbeat. The S&P BSE MidCap index gained 1.46 per cent with IDBI Bank, Bank of India, Federal Bank, L&T Finance Holdings, IDFC First Bank, SAIL, and Shriram Transport Finance soaring between 5 per cent and 9.5 per cent.

The S&P BSE SmallCap index, on the other hand, ended 1.2 per cent higher.

Buzzing Stocks
Shares of information technology major Tata Consultancy Services (TCS) tumbled 5.1 per cent to Rs 3,074.55 apiece on the BSE in the intra-day deals on Tuesday as investors booked profit in the counter. Even as reported its highest-ever order book in a quarter, at $9.2 billion, and a 15 per cent rise in net profit at Rs 9,246 crore, analysts feel the stock is trading at premium valuations and has factored-in most of the positives. The stock ended 4.2 per cent lower on the BSE today. READ MORE

Shares of Adani Ports and Special Economic Zone, on Tuesday, fell 6 per cent to Rs 702 on the BSE after S&P Dow Jones Indices said it has removed the company from its sustainability index due to the firm’s business ties with Myanmar’s military which is accused of human rights abuses after a coup this year. READ MORE

Shares of public sector lender Bank of Maharashtra surged 20 per cent to hit an intra-day high of 27.3 apiece on the BSE on Tuesday after over 3 million shares changed hands on the counter in multiple block deals. By close, the stock 18 per cent higher at Rs 27 per cent as against a 1.4 per cent gain in the benchmark index. About 3.2 million shares changed hands on the counter on the BSE till 3:30 pm in multiple block deals. READ MORE

Shares of IDBI Bank jumped 10.6 per cent to hit an intra-day high of Rs 37.40 on the BSE on Tuesday after a Business Standard report stated that the Cabinet will soon consider the proposal to sell the government’s 45.5 per cent stake in the company, paving the way for strategic divestment in the lender. READ MORE

Global markets
Global stocks ticked up on Tuesday as China's exports in dollar terms rose 30 per cent YoY, boosting confidence for a rebound in its domestic demand. Besides, market players awaiting US data expected to show a pick-up in inflation.

The broad Euro STOXX 600 gained 0.3 per cent to near record highs, with export-heavy German shares up 0.2 per cent. Indexes in Paris and London shares fell 0.1 per cent.

In Asia, Japan's Nikkei added 0.7 per cent, South Korea's Kospi gained 1 per cent, but China's CSI300 index fell 0.16 per cent.

(With inputs from Reuters)

Note: Domestic equity shall remain closed on Wednesday, April 14, on account of Baba Saheb Ambedkar Jayanti holiday

CATCH ALL THE LIVE UPDATES

Auto Refresh