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MARKET WRAP: Sensex jumps 629 pts; realty, auto rise, India VIX eases 10%

The S&P BSE Sensex jumped 629 points or 1.79 per cent to settle at 35,779, with HeroMoto Corp being the top gainer and Asian Paints the worst performer on the index.

SI Reporter  |  New Delhi 

markets, shares, stocks, investor, BSE, Nifty, Sensex
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Adding to Tuesday's gains, the domestic equity market surged nearly 2 per cent on Wednesday, led by across-the-board buying and supportive global cues. The S&P BSE jumped 629 points or 1.79 per cent to settle at 35,779, with HeroMoto Corp being the top gainer and Asian Paints the worst performer on the index. The broader Nifty50 index of National Stock Exchange (NSE) reclaimed the crucial 10,700 mark to settle at 10738, up 188 points or 1.79 per cent.

Investor sentiment got a boost after was appointed as the 25th governor of the Reserve Bank of India after the sudden resignation of Urjit Patel from the post. Financial stocks rallied in the trade on the hopes the new RBI governor will take up measures to relax the current prompt corrective action (PCA) norms. 

In the broader market, the S&P BSE MidCap index gained 371 points or 2.53 per cent to settle at 15,041 while the S&P BSE SmallCap ended at 14,404, up 345 points or 2.46 per cent. 

VOLATILITY INDEX EASES 10%

Volatility index India VIX eased 10 per cent to 16.13, signalling decline in volatility in the market. India VIX is a volatility index computed by NSE based on the order book of Options. Higher the India VIX values, higher the expected volatility and vice versa.

BANK STOCKS RALLY

Shares of public sector undertaking (PSU) banks were in focus on Wednesday, with PSU Bank index gaining 2.8 per cent on hopes of relaxation of Prompt Corrective Action (PCA) norms for the state-owned banks. The government appointed as the new governor of the Reserve Bank of India (RBI) on Tuesday after market hours.

Corporation Bank, Bank of Maharashtra, United Bank of India, Indian Overseas Bank, Dena Bank, Bank of India, Central Bank of India and UCO Bank were up in the range of 3% to 6% on the National Stock Exchange (NSE). READ HERE

GLOBAL CUES

Asian stock rallied as US President Donald trump sounded upbeat about a trade deal with China, while sterling struggled with the risk of an imminent party coup against British Prime Minister Theresa May. Japan’s Nikkei led the way with a jump of 2 per cent, while Shanghai blue chips trailed with just 0.2 per cent. E-Mini futures for the S&P 500 added 0.5 percent and spreadbetters pointed to gains for European bourses.

(with Reuters input)

MARKET WRAP: Sensex jumps 629 pts; realty, auto rise, India VIX eases 10%

Sectoral gainers of the day on NSE

MARKET WRAP: Sensex jumps 629 pts; realty, auto rise, India VIX eases 10%

Top gainers in S&P BSE Sensex

MARKET WRAP: Sensex jumps 629 pts; realty, auto rise, India VIX eases 10%

Market at close   The S&P BSE Sensex ended at 35,779, up 629 points or 1.79 per cent, while the broader Nifty50 index settled at 10,738, up 188 points or 1.79 per cent.

MARKET WRAP: Sensex jumps 629 pts; realty, auto rise, India VIX eases 10%

Beaten down stocks rally; Godawari Power, Indiabulls Venture up over 15% Over a dozen of beaten down stocks have rallied by up to 20% on Wednesday after a two percentage point jump in mid and small-cap indices. Tata Steel BSL (formerly Bhushan Steel), Indo Rama Synthetics (India), Godawari Power & Ispat, Indiabulls Ventures, Hubtown, Aptech, Housing Development & Infrastructure (HDIL) and Manpasand Beverages were trading higher in the range of 15% to 20% on the BSE. READ MORE

MARKET WRAP: Sensex jumps 629 pts; realty, auto rise, India VIX eases 10%

Top gainers in BSE500 COMPANY PRICE() CHG() CHG(%) VOLUME INDIABULLS VENT. 394.95 56.25 16.61 328757 H D I L 24.20 3.35 16.07 2219313 MANPASAND BEVER. 94.65 12.95 15.85 318691 INDBULL.REALEST. 78.70 7.15 9.99 303788 ADITYA BIR. FAS. 201.50 17.75 9.66 919797 » More on Top Gainers

MARKET WRAP: Sensex jumps 629 pts; realty, auto rise, India VIX eases 10%

NEWS ALERT Bandhan Bank to open 5 new branches today & 40 before December 31. Total branches of the bank to rise to 978 from 938 by year end, reports CNBC TV18

MARKET WRAP: Sensex jumps 629 pts; realty, auto rise, India VIX eases 10%

British PM May to face leadership challenge over Brexit   Embattled British Prime Minister Theresa May will face a vote of no confidence on Wednesday over her controversial Brexit deal. The challenge to May's leadership was triggered after 48 Conservative Members of Parliament submitted letters demanding a vote to the 1922 Committee, which represents rank-and-file Conservative MPs in the House of Commons. Read more

MARKET WRAP: Sensex jumps 629 pts; realty, auto rise, India VIX eases 10%

All 30 stocks on S&P BSE Sensex are trading in the green 

MARKET WRAP: Sensex jumps 629 pts; realty, auto rise, India VIX eases 10%

NEWS ALERT UK PM Theresa May to face vote of no confidence in her leadership

MARKET WRAP: Sensex jumps 629 pts; realty, auto rise, India VIX eases 10%

ACC gains 3% as board approves Rs 30 billion expansion plan   Shares of ACC moved higher by 3.5% to Rs 1,485 on BSE, after the cement manufacturer said its board approved Rs 30 billion expansion plan. The company said its board has granted its approval for setting up a Greenfield integrated cement plant at Ametha, Madhya Pradesh along with expansion of the existing grinding unit in Tikaria, Uttar Pradesh and a third grinding unit in Uttar Pradesh. Read more

MARKET WRAP: Sensex jumps 629 pts; realty, auto rise, India VIX eases 10%

Market check Index Current Pt. Change % Change   S&P BSE SENSEX 35,583.63 +433.62 +1.23   S&P BSE SENSEX 50 11,171.35 +131.93 +1.20   S&P BSE SENSEX Next 50 31,916.74 +593.81 +1.90   S&P BSE 100 10,942.31 +140.27 +1.30   S&P BSE Bharat 22 Index 3,353.23 +45.78 +1.38

First Published: Wed, December 12 2018. 08:06 IST
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MARKET WRAP: Sensex jumps 629 pts; realty, auto rise, India VIX eases 10%

The S&P BSE Sensex jumped 629 points or 1.79 per cent to settle at 35,779, with HeroMoto Corp being the top gainer and Asian Paints the worst performer on the index.

Adding to Tuesday's gains, the domestic equity market surged nearly 2 per cent on Wednesday, led by across-the-board buying and supportive global cues. The S&P BSE jumped 629 points or 1.79 per cent to settle at 35,779, with HeroMoto Corp being the top gainer and Asian Paints the worst performer on the index. The broader Nifty50 index of National Stock Exchange (NSE) reclaimed the crucial 10,700 mark to settle at 10738, up 188 points or 1.79 per cent.

Investor sentiment got a boost after was appointed as the 25th governor of the Reserve Bank of India after the sudden resignation of Urjit Patel from the post. Financial stocks rallied in the trade on the hopes the new RBI governor will take up measures to relax the current prompt corrective action (PCA) norms. 

In the broader market, the S&P BSE MidCap index gained 371 points or 2.53 per cent to settle at 15,041 while the S&P BSE SmallCap ended at 14,404, up 345 points or 2.46 per cent. 

VOLATILITY INDEX EASES 10%

Volatility index India VIX eased 10 per cent to 16.13, signalling decline in volatility in the market. India VIX is a volatility index computed by NSE based on the order book of Options. Higher the India VIX values, higher the expected volatility and vice versa.

BANK STOCKS RALLY

Shares of public sector undertaking (PSU) banks were in focus on Wednesday, with PSU Bank index gaining 2.8 per cent on hopes of relaxation of Prompt Corrective Action (PCA) norms for the state-owned banks. The government appointed as the new governor of the Reserve Bank of India (RBI) on Tuesday after market hours.

Corporation Bank, Bank of Maharashtra, United Bank of India, Indian Overseas Bank, Dena Bank, Bank of India, Central Bank of India and UCO Bank were up in the range of 3% to 6% on the National Stock Exchange (NSE). READ HERE

GLOBAL CUES

Asian stock rallied as US President Donald trump sounded upbeat about a trade deal with China, while sterling struggled with the risk of an imminent party coup against British Prime Minister Theresa May. Japan’s Nikkei led the way with a jump of 2 per cent, while Shanghai blue chips trailed with just 0.2 per cent. E-Mini futures for the S&P 500 added 0.5 percent and spreadbetters pointed to gains for European bourses.

(with Reuters input)

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