The key benchmark indices reversed the four-day losing streak with modest gains on the back of pull-back in select index heavyweights following the recent sell-off.
The BSE Sensex slid to a low of 57,718 in early morning deals, but thereafter recouped losses and rebounded into the positive zone in noon deals. The BSE index thereafter went on to touch a high of 58,835 – up 1,117 points from the day’s low. The Sensex finally ended with a gain of 198 points at 58,664.
The NSE Nifty surged more than 300 points from the day’s low of 17,216 to a high of 17,554, and eventually settled 86 points higher at 17,503.
Market Dashboard: Snapshot of key movers and shakers in trade today
Power distributors PowerGrid Corporation and NTPC were the major gainers among the Sensex 30 stocks, up 3.9 per cent and 2.7 per cent, respectively. Bharti Airtel and Tata Steel jumped around 2 per cent each. Sun Pharma, Bajaj Finserv, Larsen & Tourbo and SBI were the other major gainers.
On the flip side, IndusInd Bank and Asian Paints dropped around 2.5 per cent each. Infosys was the other prominent loser.
Debutant Latent View Analytics had a good outing. The stock scaled a high of Rs 549 – up almost 179 per cent when compared to its issue price of Rs 197 per share. The stock finally ended with a 147.5 per cent premium at Rs 488 on volumes of over 2 million shares on the BSE. READ MORE
Among other recent debutants, Fino Payments Bank zoomed over 12 per cent to Rs 445. Beaten down Paytm also surged 9.9 per cent to Rs 1,495. SJS Enterprises and Ami Organic were the other major gainers in trade today.
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The broader markets out performed the benchmark indices in trades on Tuesday. The BSE Midcap index advanced 1.6 per cent, and the Smallcap index added 1.8 per cent. The breadth too was extremely bullish, with nearly 3 advancing shares versus every single declining stock on the BSE.
Among sectors, the BSE Metal and Power indices soared over 3 per cent each. The Realty, Telecom and Capital Goods indices were up around 2 per cent each.
Markets at 02:30 PM
LIVE market update: The key benchmark indices were holding marginal gains in afternoon trades on Tuesday on the back renewed buying interest in select index heavyweights including Reliance Industries. HDFC Bank, Bharti Airtel and SBI were the other major contributors.
The BSE Sensex was up 254 points at 58,720, and the NSE Nifty had gained 105 points at 17,522. The broader indices continued to outperform with smart gains of 1.7 per cent each for the Midcap and Smallcap indices.
The overall market breadth too was extremely positive, with nearly 3 advancing shares for single declining stock on the BSE.
In the broader markets, NRB Bearings soared 12 per cent to hit over two-year high of Rs 171.40 on strong business outlook. The stock of the company, engaged in manufacturing of needle roller bearings, has surged 25 per cent in the past four trading days. READ MORE
Shares of Lyka Labs were locked at the upper circuit for the second straight day, up 5 per cent at Rs 129.15, also its 52-week high on the BSE on Tuesday, after Ipca Laboratories bought 1 million shares of pharmaceuticals company via open market deals. READ MORE
Other prominent gainers include stocks like Raymond, TCNS Clothing, Aptech, Glenmark, Gateway Distriparks, Neogen Chemicals, Fino Payments Bank, Lovable Lingerie, Jindal Worldwide, Paytm and HSIL.
Meanwhile, the European markets have started the day on a dismal note. DAX 30 and CAC 40 have plunged 1.3 per cent each, while FTSE 100 has slipped 0.6 per cent.
Markets at Lunch (01:30 PM)
LIVE market update: The key benchmark indices were seen consolidating after the early morning volatility and holding marginal gains. PowerGrid, Bharti Airtel and Tata Steel were the major gainers among the Sensex 30. Reliance too had rebounded into the positive zone, and was up 0.6 per cent.
The BSE Sensex was up 125 points at 58,591, and the NSE Nifty had added 64 points to 17,481. The broader indices were outperforming with smart gains, the Midcap and Smallcap indices were up around 1.5 per cent each.
Among sectors, the BSE Metal index has surged 3 per cent. The Power, Realty and Telecom indices were up around 2 per cent each.
Elsewhere in Asia the markets trended mostly lower. Hang Seng had slipped over a per cent, while Kospi and Taiwan were down 0.5 per cent and 0.8 per cent, respectively. Straits Times too dropped 0.3 per cent. Nikkei and Shanghai, however, were up 0.1 per cent and 0.2 per cent, respectively.
Markets at noon
LIVE market update: Benchmark indices have erased most of its morning losses and are trading flat in noon deals. The BSE Sensex is at 58,540, up 74 points, while the Nifty50 is up 48 points at 17,464 level. Volatility index, India VIX, has also eased 2 per cent.
18 of the 30 Sensex index constituents are now in the green while 38 of the 50 Nifty constituents are trading higher.
Individually, shares of Vodafone Idea were trading flat with a positive bias after the company announced tariff hike in the range of 20-25 per cent with effect from November 25.
Meanwhile, news reports suggest digital payment platform Mobikwik may defer its IPO planned for this month in light of subdued investor interest and the company’s inability to get desired valuation.
Markets at 11 AM
LIVE market updates: The frontline indices have stagnated around higher levels of the day, exhibiting a range-bound movement. The BSE Sensex was at 58,243 levels, down 223 points at 11:05 AM while the Nifty50 was hovering around 17,400 levels.
Tata Steel (up over 3 per cent), Power Grid, NTPC, Sun Pharma, and Bajaj Finserv were the top gainers on the Sensex. IndusInd Bank (down 3 per cent), Asian Paints, Infosys, RIL, and ICICI Bank were the top drags.
The broader markets, however, have completely recovered their losses and are comfortably trading in the green.
Individually, shares of One97 Communications, the parent company of digital payments major Paytm, were trading firm up 7 per cent at Rs 1,453 on the BSE in today’s intra-day trade after a sharp 37 per cent fall in past two trading days post debut. READ MORE
Overall, the market breadth was favouring buyers with more than 2,000 stocks trading with a positive bias relative to around 950 stocks in the red on the BSE.
In the currency market, the rupee was trading under pressure, at 74.54, against the US dollar. The domestic currency opened lower at 74.49 per US dollar relative to Monday’s close of 74.40/$.
Markets at 10 AM
LIVE market update:
Bulls are trying to wrestle their way back on Dalal Street, staging an across-the-board recovery.
After the early morning debacle, where the BSE Sensex hit a low of 57,718, the 30-share index was at 58,370, down just 95 points on the BSE at 10:05 AM.
The NSE Nifty, meanwhile, reclaimed the 17,400-mark, down only 6 points.
All the sectoral indices recouped their losses and were trading higher on the NSE, barring the Nifty IT index (down 0.7 per cent). The Nifty Metal pack was leading the recovery, up 2.5 per cent, followed by the Nifty PSU Bank and Realty indices, up 1.7 per cent each.
Among individual stocks,Vedanta surged nearly 8 per cent to a high of Rs 354 in early deals on the BSE on Tuesday after nearly 7 per cent of total equity of metal company changed hands via multiple block deals. READ MORE
New listing: Latent View Analytics made a strong market on the bourses on Tuesday despite a weakness in the secondary market. The shares listed at Rs 530 per share on the BSE, a 169 per cent premium against the issue price of Rs 197 per share. On the National Stock Exchange (NSE), the shares debuted at Rs 512, up 160 per cent against issue price. READ MORE
LIVE market update: Tepid global cues and valuation headwinds continued to force investors to book profits for fifth straight day on Tuesday. The BSE Sensex fell 656 points, or over 1 per cent, in opening deals to quote at 57,810 levels. The Nifty50, on the other hand, sliiped below the 17,250-mark, down 167 points.
In the broader markets, the BSE MidCap and SmallCap indices fell 1 per cent each.
Infosys, ICICI Bank, Tech Mahindra, Reliance Industries, Wipro, HCL Tech, and Bajaj Auto were the top large-cap laggards while Mindtree, Info Edge, Mphasis, and Srei Infra were the top losers in the broader market space.
Sectorally, only the Nifty Metal index was trading higher, up 0.36 per cent. On the downside, the Nifty IT index was slipped 2 per cent and the Nifty Bank index fell 1 per cent.
LIVE market updates:
Frontline indices were reeling under losses in the pre-open session with the BSE Sensex and the Nifty50 indices down about 1 per cent.
The 30-pack index declined around 500 points to quote at 57,962 while the 50-share index held 17,250-mark. HDFC, Infosys, and RIL were the top losers in pre-open market session.
Updated at 8:15 AM
LIVE market updates: After a manic Monday, markets look set to open with another gap-down on Tuesday amid growing headwinds.
At 8:10 AM, the SGX Nifty was down at 17,347 levels, compared with yesterday’s spot Nifty close of 17,416.
Globally, Nasdaq tumbled 1.3 per cent, and the S&P 500 index was down 0.3 per cent. Dow Jones managed to end on a flat note in overnight trade in the US on Monday.
In Asia, Hang Seng declined over a per cent on Tuesday. Kospi and Taiwan dropped 0.6 per cent and 0.5 per cent, respectively. Straits Times was down 0.1 per cent. China’s Shanghai Composite, however, was up 0.6 per cent, and Nikkei was up 0.1 per cent.
Primary market update
Latent View Analytics will debut on the bourses today. The grey market premium (GMP) for the stock suggests a strong 147-152 per cent listing pop on its debut on Tuesday.