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Sensex ends 157 pts higher, Nifty reclaims 17,500; ITC surges 5%, L&T 3%

The broader markets logged smart gains for the third straight trading session; Advancing shares outnumbered declining stocks in nearly 2:1 ratio on the BSE


SI Reporter  |  New Delhi 

BSE, Markets, equities

Closing Bell

After two successive trading sessions of strong gains, the key benchmark indices on Thursday consolidated in a rather narrow band albiet higher volatility. Select index heavyweights like ITC, Reliance and Larsen & Toubro supported the markets, while IT and financial shares witnessed profit-taking.

The BSE benchmark, the Sensex, opened 180-odd points higher at 58,831, and soon jumped to a high of 58,890. Profit-taking thereafter saw the BSE index wipe out gains and slide to a low of 58,341 - down 549 points from the day's high. Thereafter, the benchmark recouped losses and once again rallied near the highs of the day. The Sensex eventually ended at 58,807, up 157 points.

The NSE Nifty gyrated between a high of 17,543 and a low of 17,380 and finally settled 47 points higher at 17,517.

"With the recent bounce, the Nifty has reached its crucial daily moving averages, which acted as a cap for the day. 17500-17600 had acted as a strong resistance in the recent past that had induced the bears into action. Thus it is vital to monitor the price action over here. If the Nifty crosses the level of 17600 on a closing basis then it will allow the index to march further towards 18000. On the other hand, failure to hold the ground over here will push the index down to 17300-17250 in order to fill up a recent gap area on the daily chart," said Gaurav Ratnaparkhi, head of technical research, Sharekhan by BNP Paribas.

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

Buzzing stocks

ITC was the major gainer among the Sensex 30 stocks. The stock soared 5 per cent to Rs 236 after the company said it would hold its 'Institutional Investors and Financial Analysts Day' on Tuesday, December 14. The stock was up for the third straight trading session today. READ MORE

Larsen & Toubro rallied 3 per cent. Asian Paints, Reliance Industries, Mahindra & Mahindra and Bajaj Finance were the other major gainers. On the other hand, HDFC Bank slipped 1.7 per cent. Titan, Nestle India and NTPC were the other notable losers.

The broader indices ended with notable gains. The BSE Midcap index was up 0.4 per cent, and the Smallcap index had surged 0.8 per cent. The overall breadth too was fairly positive, with nearly two advancing shares for every declining stock on the BSE.

Among sectoral indices, the BSE Capital Goods index gained 2 per cent. The FMCG and Energy indices were up 1.5 per cent each. The Telecom and Oil & Gas indices also jumped a per cent each. The Bankex, however, was down 0.5 per cent.

In the broader markets, Vodafone Idea hit a fresh 52-week high in trades today. The stock was up 15.7 per cent at Rs 16.50 after the telecom company had reportedly managed to raise funds for repayment of interest to bondholders as per the due date. READ MORE

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Primary Market Update

C. E. Info Systems was fully subscribed on the first day of the issue itself. As of 03:15 PM, the IPO received bids up to 1.37 times the issue size. Retail quota was subscribed 2.5 times.

Shriram Properties also got fully subscribed on the second day of the offer. Total subscription stood at 1.41 times. The retail quota was subscribed 7.35 times.

RateGain Travel Technologies was subscribed 13.14 times on its final day of the issue. The retail quota was subscribed 6.9 times and QIBs portion was subscribed 5.06 times. There was heavy demand for the NIIs (wealthy investors) quota, subscribed up to 33.8 times.

at 02:30 PM

Live market updates:
Volatility seems to be the order for the day, with key benchmark indices erasing gains and slipping back into the negative zone.

The BSE Sensex was up 190 points at 58,840, and the NSE Nifty had added 53 points to 17,523.

ITC had surged nearly 4 per cent to Rs 234, after company said it will hold its 'Institutional Investors and Financial Analysts Day' on Tuesday, December 14.

Larsen & Toubro, Reliance and Asian Paints were the other major gainers.

Meanwhile, HDFC Bank has declined 2 per cent to Rs 1,524. Titan, Nestle India, HCL Technologies, PowerGrid Corporation and NTPC were the other prominent losers.

Meanwhile, the European too have started trade with marginal gains. The FTSE 100 and DAX 30 were up 0.2 per cent each, while the CAC 40 had advanced 0.3 per cent.

at Lunch (01:25 PM)

Live market updates:
The key benchmark indices held marginal gains in mid-noon deals on the back of fresh buying in select index heavyweights - Reliance Industries, Larsen & Toubro and ITC.

The BSE Sensex was up 190 points at 58,840, and the NSE Nifty had added 53 points to 17,523.

Larsen & Toubro was the major gainer among the Sensex 30 stocks, up 2.7 per cent at Rs 1,873. Reliance and ITC had surged 2.3 per cent each. Asian Paints too was up nearly 2 per cent.

On the flip side, Titan, HDFC Bank, Nestle, Kotak Bank and NTPC were the notable losers.

The broader markets too had recouped losses in sync with the benchmark indices. The BSE Midcap and Smallcap indices were up 0.5 per cent and 0.9 per cent. The overall breadth too was extremely positive, with more than two advancing shares for every declining stock on the BSE.

In the broader markets sugar stocks were in demand in anticipation of a firm price trend for at least a year. Shares of Balrampur China, Dalmia Bharat and Triveni Engineering had surged up to 10 per cent. READ MORE

Elsewhere in Asia, major markets mostly ended with gains. Hang Seng, Shanghai Composite and Kospi were up around a per cent each. Taiwan advanced 0.5 per cent, and Straits Times added 0.3 per cent. Nikkei, however, was down 0.5 per cent.

Markets at 12:30 PM

LIVE market updates:
Headline indices have recovered from losses and are back in the green, supported by tepid gains in metals, PSU banks, and auto stocks.

The was up 30 points at 58,679 levels at 12:25 PM, while the was at 17,478, up 8 points.

Asian Paints (up 2.5 per cent), L&T, RIL, ITC, and Bajaj Finance were the top Sensex gainers. On the flipside, Titan, HDFC Bank, Kotak Bank, Nestle India, and NTPC were the top laggards.

ITC shares were in focus as the company has announced its first-ever analyst meet, scheduled on December 14. READ MORE

The broader markets, meanwhile, continued to outperform the benchmarks. The BSE MidCap index was up 0.4 per cent while the BSE SmallCap index was up 0.8 per cent.


Markets at 11 AM

LIVE market updates:
Frontline indices are exhibiting a range-bound movement and are trading with a negative bias. Here's a quick level check for primary and secondary markets.

Sensex: 58,478, down 172 points or 0.3 per cent

Nifty: 17,417, down 53 points or 0.3 per cent

BSE MidCap: 25,566, up 0.22 per cent

BSE SmallCap: 28,965, up 0.6 per cent

IPO update

RateGain Travel: 90 per cent

Shriram Properties: 1.13 times

MapmyIndia: 58 per cent


Markets at 10 AM

LIVE market updates: After starting gap-up, the benchmark indices turned volatile and were near the day's low level.

The was at 58,449, down 200 points, levels while the held 17,400-mark. In the broader markets, the BSE SmallCap index was outperforming the mid and large-cap peers, and was up about half a per cent.

Among individual stocks, shares of Devyani International continued their northward journey for the third straight trading day, and were up 8 per cent at Rs 190.20 on the BSE in Thursday's intra-day trade. READ MORE

Further, Vodafone Idea also soared 12 per cent to Rs 16.4 after the company said its bondholders will receive interest in time on the due date of December 13 as the company managed to raise funds for the repayment.

Sectorally, only the Nifty Pharma and Metal indices were in the green. The Nifty Bank index was the top laggard, down 1 per cent.


Opening Bell

LIVE market updates: Market bulls roared on Dalal Street for third straight day on Thursday amid across-the-board buying. Besides, a firm global set-up amid encouraging flow around efficacy of Pfizer's vaccine against the Omicron variant boosted investor confidence.

The jumped 224 points, or 0.4 per cent, at 58,874 levels in early deals. The Nifty50, too, added 60 points, or 0.4 per cent, to 17,530-mark.

"Nifty's momentum would be tested if the 17,600 acts as a stubborn level and forces a swing back to 17430. That said, our downside marker would be placed a bit further away at 17250, until 17780 is achieved. On the F&O front, Nifty weekly contract as highest open interest (OI) at 18000 for Calls and 17000 for Puts, while monthly contracts have highest open interest at 17100 for Calls and 17200 for Puts. Highest new OI addition was seen at 18000 for Calls and 17000 for Puts in weekly and at 18000 for Calls and 17000 for Puts in monthly contracts," wrote analysts at Geojit Financial Services in their morning note.

Among individual stocks, BPCL, M&M, Ultratech cement, L&T, Infosys, RIL, and ICICI Bank were the outperforming large-caps in the 50-pack index.

Meanwhile, in the broader markets, the BSE MidCap and SmallCap indices gained up to 0.5 per cent. Shares of RailTel advanced 4 per cent on the BSE on new order win from Ircon International. Those of Beardsell were up 3 per cent after the company said its board will meet on December 13 to consider a proposal for rights issue.


Pre-open session

LIVE market updates:
The S&P BSE Sensex added 189 points to quote at 58,838 in pre-open levels. The Nifty50, on the other hand, was at 17,524, up 55 points.


(Updated at 8:20 AM)

LIVE market updates:
Domestic equities may rally for a third straight session on Thursday amid receeding Omicron concerns and firm global cues.

At 8:15 AM, was at 17,575 compared with Nifty's Spot close of 17,470 on Wednesday.

Primary Market

Shriram Properties IPO was subscribed up to 89 per cent at the end of Day 1 of the issue. The retail quota received bids for up to 5 times.

RateGainTravel Technologies IPO was subscribed up to 75 per cent at the end of Day 2 of its issue. The retail portion was subscribed nearly 4 times.

C. E. Info Systems (MapmyIndia) IPO will open for subscription today. The company aims to raise up to Rs 1,040 crore by way of complete Offer for Sale of equity shares in the price band of Rs 1,000 – Rs 1,033.

Global cues

The US stocks edged higher on Wednesday amid encouraging vaccine flow. According to reports, Pfizer and BioNTech said their three-shot course of the vaccine was able to neutralize the new Omicron variant in a laboratory test and they could deliver an upgraded vaccine in March 2022 if needed. Dow was up 0.1 per cent, while Nasdaq and the S&P 500 index advanced 0.6 per cent and 0.3 per cent, respectively.

Meanwhile, Asian markets too have started trade on a positive note. Hang Seng has rallied over a per cent. Straits Times, Kospi and Taiwan have gained 0.3 per cent to 0.5 per cent each. Shanghai was up 0.2 per cent, while Nikkei had slipped 0.2 per cent.

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First Published: Thu, December 09 2021. 08:21 IST