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Market Wrap, May 19: Here's all that happened in the markets today

Telecom major Bharti Airtel was the stock of the day as it hit a new lifetime high of Rs 603 during the day

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MARKET WRAP | Bharti Airtel shares

BS Web Team  |  New Delhi 

The domestic equity market ended on a positive note on Tuesday, after three straight sessions of losses but failed to hold on to day's high levels as selling in banking stocks continued.

Telecom major Bharti Airtel was the stock of the day as it hit a new lifetime high of Rs 603 during the day after the company reported a healthy 15.1 per cent year-on-year (YoY) growth in consolidated revenue at Rs 23,723 crore for the quarter ended March 2020 (Q4FY20). The stock ended at Rs 599, up over 11 per cent on the BSE.

ONGC was another stock that remained in focus and ended around 6 per cent higher at Rs 77 apiece on the BSE amid rise in oil prices.

The S&P BSE Sensex today ended at 30,196, up 167 points or 0.56 per cent. 22 of 30 constituents ended in the green and rest 8 in the red. IndusInd Bank (down over 2 per cent) was the biggest loser on the index while Bharti Airtel ended as the top gainer.

The 50-share index Nifty of NSE ended at 8,879, up 56 points or 0.63 per cent. Volatility index, India VIX, slipped 4.42 per cent to 39.10 levels.

On the sectoral front, shares of public sector banks were under pressure, with the Nifty PSU Bank index hitting an over 15-year low. At the close, Nifty PSU Bank index stood at 1,087 levels, down 29 points or 2.6 per cent. It was the top loser among sectoral indices.

Nifty Bank slipped 0.5 per cent to 17,486.25 levels.

On the other hand, metal and auto stocks were among the top gainers. NIfty Metal index gained over 1 per cent and Nifty Auto was up 1 per cent at 5,486 levels.

In the broader market, the S&P BSE MidCap index edged higher by 0.52 per cent and the S&P BSE SmallCap index ended flat, down just 0.2 per cent.

Global markets

Asian shares extended gains on Tuesday as more countries emerged from their economic lockdowns and a successful early-stage trial of a coronavirus vaccine cheered sentiment, although oil shed some of its early moves higher. The rally followed a firmer Wall Street lead after data from Moderna Inc’s COVID-19 vaccine, the first to be tested in the United States, showed it produced protective antibodies in a small group of healthy volunteers.

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 1.8 per cent to two-week highs.

Japan’s Nikkei added nearly 2 per cent to the highest since early March.

European shares, however, pulled back after a rally in the previous session.

In commodities, oil prices rose slightly. Benchmark Brent crude climbed 7 cents, or 0.2 per cent, to $34.88 a barrel.

First Published: Tue, May 19 2020. 16:50 IST
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