MARKET WRAP: Sensex up 147 pts, smallcaps outperform; Tata Motors gains 9%
Sectorally, public sector banks, NBFCs, automobile, and metal stocks gained the most, while information technology stocks which dipped on a weaker rupee.
 "markets")
Markets remained volatile but traded higher on Tuesday as the Reserve Bank of India's (RBI) decision to transfer Rs 1.76 lakh crore to the government's coffer lifted banking, NBFCs and automobile stocks. That apart, possible resumption in trade talks between the United States and China also boosted investors' sentiment. The gains were, however, capped by losses in the information technology stocks which dipped on a weaker rupee.
The benchmark S&P BSE Sensex settled with gains of 147 points, or 0.39 per cent, at 37,641 level with Tata Motors, Tata Steel, YES Bank, and NTPC being the top gainers at the 30-share index. Bharti Airtel, Tech Mahindra, Infosys, and TCS, however, were the top laggards. On the other hand, the broader Nifty50 closed at 11,105 mark, up 48 points or 0.43 per cent.
Sectorally, public sector banks, NBFCs, automobile, and metal stocks gained the most. Nifty PSU Bank index ended 2.51 per cent higher, followed by Nifty Metal index, up 2 per cent. Nifty IT index was the top loser, closing 1.35 per cent lower.
In the broader market, S&P BSE small-cap fared better than S&P BSE mid-cap index. The former closed 202 points, or 1.63 per cent, higher at 12,589 level, while the latter settled at 13,480 levels, up 77 points or 0.53 per cent.
BUZZING STOCKS
Shares of HDFC Asset Management Company (AMC) surged 7 per cent to hit a new lifetime high of Rs 2,396 on the BSE in Tuesday's early morning trade on strong growth outlook and overseas investors buying. The stock surpassed its previous high of Rs 2,370, recorded on July 19, in intra-day trade. The stock closed 7.55 per cent higher at Rs 2,412 apiece. READ MORE
Shares of Infosys slipped 3 per cent to Rs 781 in the intra-day trade on the BSE on Tuesday after the information technology (IT) firm closed the buyback offer as it utilised almost full size of the issue approved. The stock settled 2.23 pe cent lower at Rs 785 per share. READ MORE
Shares of HDFC Asset Management Company (AMC) surged 7 per cent to hit a new lifetime high of Rs 2,396 on the BSE in Tuesday's early morning trade on strong growth outlook and overseas investors buying. The stock surpassed its previous high of Rs 2,370, recorded on July 19, in intra-day trade. The stock closed 7.55 per cent higher at Rs 2,412 apiece. READ MORE
Shares of Infosys slipped 3 per cent to Rs 781 in the intra-day trade on the BSE on Tuesday after the information technology (IT) firm closed the buyback offer as it utilised almost full size of the issue approved. The stock settled 2.23 pe cent lower at Rs 785 per share. READ MORE
GLOBAL CUES
Global shares eked out gains on Tuesday as some investors held out hopes for a trade deal between the United States and China, even as the countries continued to raise tariffs on each other last week.
MSCI’S All Country World Index, which tracks shares across 47 countries, was up 0.04 per cent on the day. Japan's Nikkei closed 0.96 per cent higher, while South Korea's Kospi settle 0.43 per cent higher.
(With inputs from Reuters)
(With inputs from Reuters)
3:38 PM
Sectoral gainers and losers on the NSE
3:38 PM
Gainers and losers on the S&P BSE Sensex
3:35 PM
CLOSING BELL
The S&P BSE Sensex gained 147 points or 0.39 per cent to settle at 37,641 levels while Nifty ended at 11,105, up 48 points or 0.43 per cent.
3:31 PM
Capacit'e Infra gains 20% in two days as I-T dept finds no irregularities
Shares of Capacit'e Infraprojects moved higher by 11 per cent to Rs 212 on the BSE on Tuesday, having surged 20 per cent in the past two days, after the company said the Income Tax (I-T) department authorities found no irregularities during the search conducted at its premises.
"The tax department had conducted search at the premises of the Capacit'e Infraprojects on August 25, 2019 but no claims have been made against the company nor have there been any disclosures. The above proceedings have no impact on the financial and operational performance of the company," it added. READ MORE
2:59 PM
NEWS ALERT | BPL, Minda Corp, Bombay Dyeing, Ruby Mills among 5 stocks locked in 20% upper circuit
2:52 PM
NEWS ALERT | Bank of Baroda accepts being fined by the RBI
-- Fined Rs 50 lakh
-- Fined for delay in reporting Kingfisher Airlines' fraud
-- Fined for delay in reporting Kingfisher Airlines' fraud
2:48 PM
Tata Motors zooms 9%
2:42 PM
Market check
2:41 PM
Nifty sectoral indices at this hour
2:41 PM
Central banks just love gold and it's going to stay that way amid slowdown
A major gold-buying spree by central banks is likely to persist in the coming years, according to Australia & New Zealand Banking Group Ltd, which flagged the potential for further purchases by nations including China.
“In the current environment, where uncertainty in emerging-market currencies is high, we see good reason for countries like Russia, Turkey, Kazakhstan and China to continue to diversify their portfolios,” ANZ said in a note on Tuesday. Net buying by the sector is likely to stay above 650 tonnes, it said. READ MORE
2:29 PM
BUZZING STOCK:: HUDCO surges 16%
2:21 PM
Facing slowdown, and inventory glut, Maruti cuts 3,000 contract jobs
Maruti Suzuki India Ltd Chairman R C Bhargava said on Tuesday the company had not renewed the contracts of 3,000 temporary employees, as the automaker battled rising inventory amid a slowdown in demand. Safety norms and higher taxes have "added substantially" to the cost of cars, affecting their affordability, Bhargava told shareholders at the company's annual general meeting. READ MORE
2:15 PM
Goldman Sachs sees more pain in store for the Indian economy
Analysts at Goldman Sachs see more pain in store for the Indian economy over the next few months despite the government’s stimulus unveiled last week. In their recent co-authored report titled India’s Economic Slowdown, Andrew Tilton, their chief Asia-Pacific economist expects this slowdown to last at least a couple of quarters more. READ MORE
2:01 PM
Shilpa Medicare tanks 36% in 10 days, hits 5-yr low on weak Q1 results
Shares of Shilpa Medicare were continued to remain under pressure and hit a 5-year low of Rs 222, down 9 per cent on the BSE in intra-day trade on Tuesday in an otherwise firm market on weak earnings. The stock was trading at its lowest level since July 2014. The pharmaceutical company's stock price has tanked 36 per cent since August 13 -- when the company declared results for the April-June quarter (Q1YF20) -- as compared to 0.2 per cent rise in the S&P BSE Sensex. READ MORE
1:34 PM
(Source: NSE)
Click to view full list
As many as 89 securities hit 52-week low on NSE
| AIRAN | Airan Limited | 15.20 | 16.05 | 23-Aug-2019 | 17.70 | 16.40 | 1.30 | 7.93 |
| ALEMBICLTD | Alembic Limited | 37.05 | 38.80 | 25-Oct-2018 | 37.05 | 38.95 | -1.90 | -4.88 |
| ALOKTEXT | Alok Industries Limited | 2.55 | 2.55 | 26-Aug-2019 | 2.70 | 2.60 | 0.10 | 3.85 |
| ANIKINDS | Anik Industries Limited | 6.90 | 7.10 | 26-Aug-2019 | 8.00 | 7.55 | 0.45 | 5.96 |
| BANARISUG | Bannari Amman Sugars Limited | 1,055.30 | 1,085.00 | 26-Aug-2019 | 1,092.00 | 1091.90 | 0.10 | 0.01 |
(Source: NSE)
Click to view full list
Topics : Markets MARKET WRAP
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Aug 27 2019 | 7:23 AM IST
