Sensex gains 460pts; Nifty atop 18,450; D-Mart tanks 8%, Vedanta zooms 13%

Topics MARKET LIVE | Q2 results | HDFC Bank

Markets at Close (03:30 PM):

The key benchmark indices extended their winning streak for the seventh straight day, ending at fresh record highs. The BSE benchmark index, the Sensex, scaled a fresh all-time high at 61,963, and ended 460 points higher at 61,756.

The NSE Nifty touched a fresh summit at 18,542, and settled 138 points higher at 18,477. The NSE index has soared 4.7 per cent (831 points) in the last seven trading sessions.

Among the Sensex 30 stocks, Infosys surged 4.5 per cent to Rs 1,792. Tech Mahindra, Tata Steel, ICICI Bank, ITC and Maruti were the other prominent gainers. On the other hand, HCL Technologies and Mahindra & Mahindra slipped over 2 per cent each. Dr.Reddy's, Asian Paints and Bajaj Auto were the other notable losers.

The BSE Midcap index was up a per cent at 26,952, and the Smallcap index added 0.7 per cent to 30,101. The market breadth too was positive, with 1,830 advancing shares versus 1,620 declining stocks on the BSE.

Among sectors, the metal index surged 4.3 per cent. The Power index jumped 2.6 per cent, while the IT index was up 2 per cent.

Avenue Supermarkets (D-Mart) nose-dived by nearly 18 per cent from day's high of Rs 5,900, also its new life-time high, on account of heavy profit-taking. The stock had rallied nearly 10 per cent on the back of strong Q2 performance, but eventually tanked to a low of Rs 4,850, and ended 8.2 per cent lower at Rs 4,895.

Paras Defence was locked at the 20 per cent upper circuit at Rs 759.90 on the BSE after the stock was shifting to the rolling segment with effect from today. READ MORE

Sugar stocks also ended with smart gains, with the likes of Balrampur Chini, Triveni and EID Parry recording new highs in trade on Monday. READ MORE

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Markets at 02.30 PM:

LIVE market updates: The domestic benchmark indices hovered around all-time high levels, in the late afternoon session, led by gains in index heavyweights Infosys, ICICI Bank, RIL and ITC. The investors back home discounted a weak start for European peers and focussed on strong Q2 India Inc earnings, record vaccine spree and revival in consumption demand ahead of the festive season. 

The BSE Sensex was trading 558 points higher at 61,855 . The index had touched a fresh record high of 61,963 in trade earlier. Meanwhile, the 50-pack Nifty was at 18,516, up 178 points. It scaled a new high of 18,543 today. Among Sensex stocks, 18 were in the green and 12 in the red, with Infosys leading the gainers (up 3 per cent), followed by Tata Steel, UltraTech and ICICI Bank. HCL Tech, meanwhile, witnessed some profit taking post its Q2 earnings and was the worst laggard, down nearly 3 per cent. 

Sectorally, media and pharma names languished while metals, PSU Bank and IT indices gained traction on the NSE. That said, stocks from the sugar sector also hogged limelight, rallying up to 20 per cent on expectation of strong earnings growth. READ HERE

That said, the volatility index or India VIX vaulted over 8 per cent to 17.07 level, indicating high volatility is likely in coming days. Mohammed El-Erian, the chief economic adviser at Allianz SE and a Bloomberg columnist, too cautioned that investors should prepare for increased market volatility if the Federal Reserve pulls back on stimulus measures set in motion by the Covid-19 pandemic.

Globally, bond yields rose and most stocks fell as surging energy prices cemented worries about inflation and reinforced bets on policy tightening. The Stoxx Europe 600 fell 0.4 per cent and futures on the S&P 500 shed 0.2 per cent. Meanwhile, the MSCI Asia Pacific Index rose 1.3 per cent.
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Markets at Lunch (01:30 PM):

LIVE market updates:
The key benchmark indices registered fresh life-time highs, and have then pared some gains amid slightly cues from the overseas markets, mainly European.

The BSE Sensex registered a fresh summit at 61,962, and was up 462 points at 61,768. The NSE Nifty touched a record high of 18,543, and was up 140 points at 18,479.

Tata Steel and Infosys continue to hold gains of over 3 per cent each. Meanwhile, HCL Technologies, Mahindra & Mahindra, Dr.Reddy's and Bajaj Auto have extended losses. Hindustan Unilever trades flat a day ahead of its Q2 results. CLICK HERE FOR HUL EARNINGS PREVIEW

Meanwhile, the European markets started trade for the week on a negative note. The CAC 40 had declined nearly a per cent, while the DAX was down 0.5 per cent. FTSE 100 was marginally in red, down 0.2 per cent. In US, Dow futures were down 82 points, while Nasdaq was down 72 points.

Back home, the NSE Metal index had surged over 4 per cent, and the Nifty PSU Bank index had rallied nearly 3 per cent. Among sectors, only Media and Healthcare indices were in red.

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Markets at 12 NOON:

LIVE market updates:
The markets continue to trade on a firm note led by metals and financial and IT stocks. Neighbouring Asian markets too were trading with smart gains in trades on Monday.

The BSE Sensex was up 535 points at 61,841, and the NSE Nifty had gained 167 points at 18,506. Infosys has now gained 3 per cent at Rs 1,766. ICICI Bank, Titan, Tech Mahindra, Tata Steel and Maruti are the other major gainers in the Sensex 30.

The market breadth was also fairly positive, with 1,959 advancing shares versus 1,221 declining stocks on the BSE.

Elsewhere in Asia, Nikkei and Hang Seng had rallied over 1.5 per cent each. S&P/ASX 200 was up a per cent. Straits Times and KOSPI added 0.3 per cent and 0.6 per cent, respectively.

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Markets at 11 AM:

LIVE market updates: The markets continue to trade on a firm note in late morning deals on the back of strong buying support in metal and IT shares. The Sensex was up 491 points at 61,797, and the NSE Nifty had gained 169 points at 18,508.

Hindalo soared 6.5 per cent to Rs 516. Tata Motors, JSW Steel, Titan, Tata Steel, ONGC and Infosys were the other major gainers in the Nifty 50. On the other hand, HCL Technologies slipped 2 per cent to Rs 1,226. Asian Paints, Dr.Reddy's and Bajaj Auto were the other notable losers.  

Shares of metal companies were in focus in Monday's session as the Nifty Metal index rose 4 per cent to hit a record high of 6,246.65 in intra-day trade on rising base metal prices amid higher demand expectations. READ MORE

The NSE Midcap 150 index has surged 1.5 per cent to 12,280. Tata Power is the major gainer, up 14 per cent at Rs 254. Hindustan Zinc, National Alumnimum and Hindustan Copper have rallied 9-12 per cent each. NHPC, HAL, Solar Industries, Union Bank of India, Dhani, Indian Bank and IRCTC are the other prominent gainers. On the flip side, Persistent and APL Apollo Tubes, down over a per cent each are the notable losers.

The NSE Smallcap 250 index has gained 1.2 per cent at 10,054. Cera Sanitaryware and Indiabulls Realestate up around 11 per cent each were the major gainers. Network 18, Mahindra CIE Automotive, Grindwell Norton, KEI Indusries, Indoco Remedies and Century Ply are the other significant gainers, up 6-10 per cent each. Whereas, PNB Housing has hit the 5 per cent lower circuit on calling-off the Rs 4,000 crore preferential issue of shares. It was followed by MCX India, Poly Medicure, Shilpa Medicare and JB Chem Pharma.

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Markets at 10 AM:

LIVE market updates: The markets continued to scale fresh record highs on the back of positive sentiment. The BSE Sensex has registered a new life-time high at 61,894 in intra-day trades so far, and was up 400 points at 61,707.

The Nifty 50 index so far registered a new summit at 18,521, and was up 130 points at 18,469.

The broader markets have also logged smart gains. The NSE Nifty Midcap 100 index has surged 1.4 per cent, and the Smallcap 100 index has added 0.8 per cent. India VIX too has jumped nearly 9 per cent to 17.15.

Among sectors, the Nifty Metal index has soared 3.6 per cent, and the PSU Bank index has rallied 1.5 per cent. The Nifty Consumer Durables, Oil & Gas and IT indices have advanced over a per cent each.  

Shares of Avenue Supermarts, which owns and operates retail chain D-Mart, hit a new high of Rs 5,899.90 as they rallied 11 per cent on the BSE in Monday’s intra-day trade following its quarterly results. The company on Saturday reported a two-fold increase in its consolidated net profit at Rs 417.76 crore for the second quarter ended September 2021 (Q2FY22). The company had posted a net profit of Rs 198.53 crore in Q2FY21. READ MORE

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(Updated at 09:25 AM)

LIVE market updates:
The benchmark indices yet again opened with a positive gap on the back of prevailing upbeat market sentiment and cues from the select overseas markets.

The BSE Sensex opened with a positive gap of 500-odd points at 61,817, and was then quoted at 61,710, up 405 points. The NSE Nifty topped the 18,500-level in opening deals, and touched a new record high at 18,513. The Nifty 50 index was then up 108 points at 18,447.

Among the Sensex 30 stocks, HDFC Bank has rallied 2 per cent to Rs 1,720. The private bank Q2FY22 net profit rose by 17.6 per cent to Rs 8,834.31 crore as against Rs 7,513.11 crore in the year ago period. Total income was up 7.4 per cent at Rs 38,754.16 crore from Rs 36,069.42 crore in the same period.

Tata Steel, Infosys, PowerGrid Corporation, Nestle India, IndusInd Bank and Bharti Airtel are the other prominent gainers.

HCL Technologies has slipped a per cent to Rs 1,239 after a subdued Q2FY22 performance. The IT firm maintained FY22 forecast, while reporting 3.9 per cent YoY growth in Q2 net at Rs 3,265 crore, and 11.1 per cent YoY growth in revenue at Rs 20,655 crore for the quarter ended September 2021.

Asian Paints and Dr.Reddy's are the other notable losers.

For the week ahead, "Domestic market awaits the release of quarterly earnings to determine the market trend. Banking will be the key sector under focus in the coming days as the sector is set to kickstart its earnings season. With the expectation of a strong recovery in corporate earnings, the Indian market is positioned to continue its bull run. However, any deviation from market expectation may lead to short-term correction in the respective segments", says Vinod Nair, Head of Research at Geojit Financial Services.

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(Updated at 09:03 AM)

Pre-open Session:

LIVE market updates: The BSE Sensex was quoted 818 points higher at 62,124 in pre-open trades on Monday, and thereafter was up 408 points at 61,714. The NSE Nifty 50 soared 332 points at 18,671 in early pre-open deals, and thereafter was up 196 points at 18,535.

ONGC soared 8 per cent, while ITC jumped 5 per cent in the pre-open deals. PowerGrid Corporation, Titan, Tata Steel and TCS were the other notable gainers. On the flip side, HCL Technologies was down 4 per cent.

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(Updated at 08:10 AM)

LIVE market update
: Stock-specific action will take the centre stage on the bourses on Monday as trading resumes after an extended weekend. At 8:00 AM, SGX Nifty was at 18,427 levels.

Earnings today

Craftsman Automation, LTI, Route Mobile, and Tata Coffee are among the 21 companies scheduled to report their September quarter results today.

Global cues

Most Asian stocks and US futures slid as China’s gross domestic product grew slower-than-expected. Japan's Topix and South Korea's Kospi index fell 0.3 per cent each while Hang Seng Index climbed 0.6 per cent. S&P futures were down 0.1 per cent.

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