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MARKET WRAP: Sensex closes above 39,000, Nifty ends at 11,713; autos gain

All that happened in markets today

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

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The domestic equity market ended in the positive territory on Tuesday amid buying in select blue-chip counters such as Tata Motors, Bharti Airtel, TCS and Bajaj Finance. 

The S&P BSE closed above the crucial 39,000-mark for the first time at 39,057, up 185 points or 0.48 per cent. 

The NSE's Nifty50 index closed at 11,713, up 44 points or 0.38 per cent, with 23 constituents advancing and 27 declining. 

The broader market, however, underperformed the benchmark indices as the S&P BSE MidCap index fell 6 points or 0.04 per cent to end at 15,554 while the S&P BSE SmallCap dropped 28 points or 0.18 per cent to close at 15,117.

Sectorally, realty stocks advanced the most, followed by PSU banks and auto. The Realty index settled at 273, up 6 points or 2.32 per cent. 

BUZZING STOCKS
 
Shares of Tata Motors jumped over 8 per cent to Rs 203, gaining over 17 per cent in the past two trading days on the BSE, after the company’s wholly-owned subsidiary Jaguar Land Rover (JLR) said it expects better financial results for the quarter ended March 2019 (Q4FY19).

Shares of power companies such as Adani Power, Tata Power, NTPC and Power Grid surged during the day after the Supreme Court quashed the Reserve Bank of India’s February 12 circular via which the banking sector regulator had asked banks to take defaulting power, sugar, shipping and other sector companies to insolvency

On the contrary, midcap IT company Cyient slipped over 12 per cent to Rs 571.30 on the BSE during the session on concerns over a drop in revenue during March quarter (Q4FY19) due to delay in an order worth around $5 million. The stock, eventually, closed at Rs 579.40 apiece, down 11 per cent on BSE.

GLOBAL CUES

Asian continued to rally on the back of the positive US and Chinese manufacturing data.

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.2 percent. The broader NSE was up 0.19 percent at 11,691.55 as of 0623 GMT, while the benchmark BSE was 0.25 percent higher at 38,968.97.

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