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Indices end near day's high, Sensex up 558 pts; UltraTech Cement jumps 7%

All that happened in the markets today

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Markets | Coronavirus | ITC

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

Stock brokers react to the movement share prices on BSE Sensex in Mumbai on January 23. Photo: Kamlesh Pednekar
Stock brokers react to the movement share prices on BSE Sensex in Mumbai. Photo: Kamlesh Pednekar
The domestic stock market ended Tuesday's session with around 1.50 per cent gains amid buying in IT, financials, and auto stocks. The benchmark S&P Sensex advanced 558 points or 1.47 per cent to settle at 38,493, with UltraTech Cement (up 7 per cent) being the top gainer, followed by TCS (up 4.7 per cent), M&M (up nearly 4.5 per cent), and Maruti (up 4 per cent). 

NSE's Nifty ended at 11,300.5, up 169 points or 1.52 per cent. Volatility index, India VIX, declined over 5 per cent to 23.73 levels. 

Among individual stocks, UltraTech Cement moved higher by 7 per cent to Rs 4,136 on the BSE after the company reported better-than-expected operational performance in the April-June quarter of FY21 (Q1FY21). READ MORE

HDFC Life Insurance hit an all-time high of Rs 647.50 on the BSE during the day ahead of its inclusion in the benchmark index Nifty50 from Friday, July 31, 2020 onwards. The stock ended at Rs 640.55. 

Shares of gained as much as 6 per cent to Rs 702 on the BSE after the company's April-June quarter (Q1FY21) earnings beat Street estimate. The stock settled at Rs 683.50, up nearly 3 per cent. 

In the broader market, the S&P BSE MidCap index ended 0.76 per cent higher at 13,669 levels while the S&P BSE SmallCap index ended at 12,917, up 0.6 per cent. 

On the sectoral front, barring Nifty Media, all the other indices ended in the green. Nifty Auto index rallied over 3 per cent to 7,417 levels while Nifty IT gained over 2 per cent to 18,043 points. 
 
Global Markets

European stocks inched higher on Tuesday as investors held out for more US stimulus to limit the economic damage of the Covid-19 pandemic, brushing aside the latest batch of underwhelming quarterly earnings reports from luxury goods makers.

In Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan ended up 0.8 per cent. Japan's Nikkei closed lower, but Chinese blue chips rose 0.8 per cent and E-Mini futures for the S&P 500 ESc1 were steady after a 1.7 per cent rebound from the Nasdaq on Monday helped Wall Street higher.

In commodities, gold hit a record high before falling a bit as investors booked profit following a steep surge in the precious metal. Oil prices, on the other hand, were steady as hopes for additional US measures to stimulate the economy countered a demand outlook dampened by the rising of cases across the globe.

(With inputs from Reuters)

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