After witnessing losses for two consecutive sessions, investors flocked equities markets on Tuesday in the wake of no major escalation between Iran and the United States. Indices, however, pared gains after reports suggested that Iran has labelled the entire US troop as "terrorists" and was exploring options to avenge Qassem Suleimani's assassination.
Investors were also awating advance estimates of FY20 gross domestic product (GDP) expected to be released, by the government, later in the day.
The benchmark S&P BSE Sensex scaled 553.51 points in the intra-day trade to hit a high of 41,230.14 levels. The index, however, settled at 40,869.47 level, up 192.84 points or 0.47 per cent. Ultratech Cement, NTPC, Reliance Industries, and HDFC Bank, up between 1.5 and 2.1 per cent, were the top gainers on the 30-share index at close. On the downside, Infosys, Hero Motocorp, Bharti Airtel, Nestle ended the day as top losers.
India VIX, the index to gauge the volitality, shot up as much as 18 per cent in the intra-day trade today.
On the NSE, the Nifty50 closed at 12,052.95-mark, up 59.90 points or 0.50 per cent. The index hit an intra-day high of 12,152.15. On the sectoral front, all the major indices settled with over 0.5 per cent gains. Nifty Realty index edged 1.9 per cent higher, followed by Nifty Media, up 1 per cent.
In the broader market, small-caps outperformed the frontline indices at close. The S&P BSE small-cap index ended 1.05 per cent higher at 13,858.68, while the S&P BSE mid-cap index closed 0.7 per cent higher at 14,867.07.
>> Shares of ITI surged 15 per cent to Rs 106 on the BSE in the intra-day trade today after the company reported an over 12-fold jump in the consolidated net profit at Rs 168 crore in the December quarter of the current fiscal year (Q3FY20). The share closed 13.4 per cent higher at Rs 103.90.
>> Shares of Jet Airways were locked in the 5 per cent upper circuit band for the sixth straight day at Rs 37.65 on the BSE today amid reports that South America-based Synergy Group has submitted a new expression of interest for the beleaguered airline. The stock was trading at its highest level since September 17, 2019.
>> Shares of Jindal Steel and Power gained 3 per cent to Rs 171.7 on the BSE today, after the company reported its highest-ever quarterly steel production at 1.61 million tonnes in the December quarter of ongoing fiscal. The stock, however, closed 0.06 per cent lower at Rs 166.70.
>> Shares of sugar companies were in demand on Tuesday with Balrampur Chini Mills, EID Parry, and Dwarikesh Sugar Industries hitting their respective 52-week highs on the BSE. The sugar companies are expected to report a strong operational performance, driven by higher sugar realisations and lower costs. The stocks closed 1.6 per cent, 2.3 per cent, and 8.3 per cen higher, respectively.
Asian shares rebounded on Tuesday as investors’ reassessed the risk of an all-out conflict between the United States and Iran. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.7 per cent, Japan’s Nikkei rallied 1.4 per cent, and Shanghai blue chips 0.5 per cent.
In Europe, the pan European STOXX 600 Index rose about 0.6 per cent by 2:41 pm, with German stocks outperforming most peers.
In the commodities market, Brent Crude Futures were at $68.56, down 0.5 per cent at 4:00 pm.