MARKET WRAP: Sensex ends 379 pts up at 36,443, Nifty at 10,987; autos rally
All that happened in the market today
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markets
Benchmark indices ended over 1 per cent higher led by gains in ICICI Bank, Axis Bank, HDFC Bank, ITC and RIL.
The S&P BSE Sensex ended at 36,443, up 379 points while the broader Nifty50 index settled at 10,987, up 123 points.
In the broader market, the S&P BSE MidCap index ended 291 points, or 2.01 per cent higher at 14,794, while S&P BSE SmallCap index settled at 14,417, up 435 points, or 3.11 per cent.
Buzzing stocks
Shares of Tata Motors rallied 10 per cent to Rs 198 apiece on the National Stock Exchange (NSE) in the intra-day trade on the back of heavy volumes after the company denied the reports of exploring options for Jaguar Land Rover Automotive Plc (JLR) including stake sale. The stock ended at Rs 193.40, up 7.27 per cent.
The S&P BSE Sensex ended at 36,443, up 379 points while the broader Nifty50 index settled at 10,987, up 123 points.
Among sectoral indices, Nifty Auto index ended 3.17 per cent higher with Eicher Motors and Tata Motors being the top gainers. The Nifty Metal index, too, settled 2.65 per cent higher steered by Jindal Stainless and Hindustan Copper.
In the broader market, the S&P BSE MidCap index ended 291 points, or 2.01 per cent higher at 14,794, while S&P BSE SmallCap index settled at 14,417, up 435 points, or 3.11 per cent.
Buzzing stocks
The shares of REC (up 5 per cent at Rs 144) and Power Finance Corporation (up 2.5 per cent at Rs 116) hit their respective 52-week highs during intra-day trade on the BSE. REC ended at Rs 144.80, up 5.46 per cent whereas Power Finance Corporation settled 2.78 per cent higher at Rs 116.50.
Shares of Tata Motors rallied 10 per cent to Rs 198 apiece on the National Stock Exchange (NSE) in the intra-day trade on the back of heavy volumes after the company denied the reports of exploring options for Jaguar Land Rover Automotive Plc (JLR) including stake sale. The stock ended at Rs 193.40, up 7.27 per cent.
Global markets
Asian shares stepped back on Tuesday, weighed by US economic concerns and as China cut its growth target in the face of intensifying challenges from rising debt and a dispute over trade and technology with the United States.
MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.15 per cent and Japan’s Nikkei lost 0.4 per cent.
MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.15 per cent and Japan’s Nikkei lost 0.4 per cent.
(With inputs from Reuters)
3:50 PM
Sectoral trend on NSE
3:49 PM
Top gainers and losers on S&P BSE Sensex at close
3:33 PM
Market at close
The S&P BSE Sensex ended at 36,443, up 379 points while the broader Nifty50 index settled at 10,987, up 123 points.
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MARKET COMMENT: Rajnath Yadav, Senior Research Analyst, Choice Broking
The US is pressuring trading countries which have trade surplus with the US to re-negotiate the trade terms. This has been done with China and with other countries, now it is India's turn. However, India's trade surplus with the US is around $28 billion, which is very minuscule as compared to the trade surplus of countries like China. So, the trade surplus criterion of removing the preferential benefit status is not justified. We think that in the recent past, Indian government has taken few measures like change in the domestic e-commerce rules, domestic data location etc., which are not appreciated by the US MNCs i.e. Amazon, Walmart, Visa Inc, Mastercard. US President Donald Trump wants trading countries to assure equitable and reasonable market access to its companies. Thus, the above restrictions on the US companies by India could have triggered such retaliation from the US government.
3:01 PM
REC, Power Finance Corporation hit 52-week highs
The shares of REC (up 5 per cent at Rs 144) and Power Finance Corporation (up 2.5 per cent at Rs 116) hit their respective 52-week highs during intra-day trade on the BSE on Tuesday. In the past two weeks, REC and Power Finance Corporation (PFC) have outperformed the market by gaining 20 per cent and 12 per cent, respectively. In comparison, the S&P BSE Sensex was up 2 per cent during the same period. READ MORE
2:51 PM
» More on Top Gainers
Top gainers on BSE500
| COMPANY | PRICE(rs) | CHG(rs) | CHG(%) | VOLUME |
| SUZLON ENERGY | 7.28 | 1.33 | 22.35 | 20563096 |
| JINDAL STAIN. | 42.20 | 6.55 | 18.37 | 324542 |
| MANPASAND BEVER. | 87.20 | 10.05 | 13.03 | 325626 |
| DILIP BUILDCON | 500.85 | 52.65 | 11.75 | 176817 |
| REPCO HOME FIN | 394.55 | 40.15 | 11.33 | 154195 |
2:37 PM
Rupee check
Rupee at 70.83 against US Dollar
2:29 PM
A few banks, NBFCs find market favour as funding pressure recedes
Banks and non-banking financial companies (NBFCs), including housing financiers, went through tough times last year, which also disappointed investors. Banking stocks were affected by the spike in bad loans or non-performing assets (NPAs), fraud and top-management related issues, among others. READ MORE
2:17 PM
Sectoral trends on NSE
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Market check
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1:39 PM
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1:38 PM
» More on Top Losers
Top losers on BSE500
| COMPANY | PRICE(rs) | CHG(rs) | CHG(%) | VOLUME |
|---|---|---|---|---|
| TECH MAHINDRA | 810.75 | -21.25 | -2.55 | 124356 |
| MPHASIS | 1011.55 | -24.35 | -2.35 | 6714 |
| MAHANAGAR GAS | 899.20 | -21.15 | -2.30 | 15246 |
| KALPATARU POWER | 390.50 | -8.85 | -2.22 | 2043 |
| SUPREME INDS. | 1097.40 | -23.70 | -2.11 | 963 |
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First Published: Mar 05 2019 | 7:17 AM IST
