Sensex gains for 2nd day, ends 437 pts up at 46,444; HUL, Infy top gainers

India VIX cooled off over 6 per cent to end at 20.5 levels

4:14 PM

MARKET CLOSING COMMENT :: Deepak Jasani, Head of Research, HDFC Securities

Indian equity benchmark indices continued their rebound from losses of Dec 21 and ended higher for the second straight day. The Nifty opened flat and rose gradually through the day to close at almost its intraday high. At close Nifty settled 135 points, or 1 percent, higher at 13,601.10.

 

Volumes on the NSE were below recent average. Among sectors, Realty Media IT PSU Bank, FMCG, Metals and Pharma were the main gainers.

 

World stocks inched up on Wednesday, as a last-minute intervention by President Donald Trump dampened positive sentiment over a U.S. stimulus deal, while the European markets rose on the possibility of a Brexit agreement that could be likely as early as on Wednesday.

 

In the second day post the selloff, Nifty has retraced ~75% of the latest fall. However lower volumes are a dampener. Now the next resistance level of the Nifty is at 13665-13710 while supports will come in at 13485.

4:12 PM

MARKET CLOSING COMMENT :: Ajit Mishra, VP - Research, Religare Broking

Markets extended rebound and gained over a percent amid mixed cues. The benchmark indices started on a flat note and gradually inched higher as the session progressed. Healthy buying continued in IT and pharma majors and stocks from the media and realty space also witnessed decent recovery. Finally, the Nifty ended near day’s high at 13,600 levels; up by 1%. The broader markets outperformed and ended with strong gains in the range of 2.4-2.7%.

 

Markets are taking comfort from the global markets, which are holding strong despite the renewed COVID challenge. Meanwhile, the passage of the stimulus package in the US has relieved the participants to some extent. We suggest continuing with a cautious stance and limiting leveraged positions. The defensive pack is doing well on expected lines and likely to maintain this bias ahead as well. Traders should align their positions accordingly.

4:01 PM

MARKET CLOSING COMMENT :: Vinod Nair, Head of Research at Geojit Financial Services

Market is continuing its rally amidst concerns over new virus strain, lockdown and weak global cues, fueled by IT, mid and small caps. The additional stimulus announced in the US did not gain much momentum in the global market as the quantum of the benefit was well-factored, but Europe and EMs are maintaining the buoyancy. In the coming days, the market will also focus on Brexit trade deals which is expected to be finalized soon and fallout in the economy due to strict lockdown"

 

3:48 PM

MARKET CLOSING COMMENT :: S Ranganathan, Head of Research at LKP Securities

Having shrugged off the bear hug yesterday afternoon, the Bulls were in total control on Wednesday as well. The IT big boys led the rally well supported by FMCG stocks. Afternoon trade witnessed a more broad-based uptrend with investors gaining back the confidence

3:47 PM

Market stats :: 170 stocks hit their respective 52-week highs on BSE today

3:46 PM

Index contributors :: Infy, HUL contribute nearly half of Sensex's gain

3:43 PM

Sectoral trends on NSE :: Realty index outruns

3:41 PM

Sensex Heatmap :: HUL, Infy, M&M top gainers; Titan, PowerGrid end lower

3:35 PM

CLOSING BELL :: Indices end higher for 2nd straight day

>> The benchmark S&P BSE Sensex ended the day 437 points, or 0.95 per cent, higher at 46,444 levels, surging 545 points from the day's low.

>> The broader Nifty50 reclaimed 13,600-mark and settled 144 points, or 1.07 per cent, higher at 13,610 levels.

3:26 PM

Vodafone Idea surges 10% ahead of arbitration appeal deadline

Shares of telecom operator Vodafone Idea surged over 12 per cent to Rs 10.68 on the BSE in intr-aday trade on Wednesday as the government remained uncertain on appealing against an arbitration award relating to retrospective tax demand against the company's British promoter Vodafone Plc. READ MORE