Sensex slips 109pts; Broader markets outperform, Allcargo zooms 20%

(Photo: Bloomberg)
Closing Bell

The broader markets out-performed the key benchmark indices in trade on Tuesday on the back of buying in auto and realty shares. The BSE benchmark index, the Sensex, jumped to a high of 60,421 in early trade, but eventually ended 109 points lower at 60,029.

The NSE Nifty rallied past the 18,000-mark, in opening deals to a high of 18,012, but soon the rally fizzled and the index dropped to a low of 17,848. The Nifty 50 index finally settled with a loss of 41 points at 17,889.

The broader markets out-performed the key benchmark indices with a huge margin. The BSE Midcap index was up 0.6 per cent at 25,869, and the Smallcap index surged 1.1 per cent to 28,607. The overall market breadth was also fairly positive, with 1,952 advancing shares as against 1,301 declining stocks on the BSE.

Market Dashboard: Snapshot of key movers and shakers in trade today

Tata Steel down 3.5 per cent at Rs 1,319 was the top loser among the Sensex 30 stocks. Tech Mahindra, HCL Technologies, IndusInd Bank, Reliance, Dr.Reddy's, PowerGrid Corporation, Nestle India and Asian Paints were down 1-2 per cent each. On the positive front, Maruti, NTPC, Titan, SBI and Larsen & Toubro were up 1-2 per cent each.

Among sectors, the BSE Realty index zoomed 3.6 per cent. The Auto and Consumer Durables indices surged over a per cent each.  On the flip side, the Metal index shed 1.7 per cent, and the Energy index was down 1.1 per cent.

In the broader markets, Allcargo Logistics hit the 20 per cent upper circuit at Rs 328.95, also its fresh life-time high, after the company’s reported 355 per cent year-on-year (YoY) jump in consolidated net profit at Rs 264 crore in September quarter (Q2FY22).

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Primary Market Update: Fino Payments Bank IPO was subscribed 1.9x on the final day of subscription. Sigachi Industries was subscribed 20.15x, Policy Bazaar 69 per cent and S J S Enterprises 46 per cent.

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Markets at 02:30 PM

LIVE market updates: The markets continue to trade on a lackluste note, with the BSE Sensex down 118 points at 60,020, and the NSE Nifty down 41 points at 17,889.

The broader markets, however, continued to hold firm the gains. The BSE Midcap index was up 0.5 per cent, while the Smallcap index had jumped over a per cent.

The overall breadth too was fairly positive, with 1,905 out of the 3,352 stocks advancing on the BSE.

Meanwhile, the European markets have started trade on a mixed note. The FTSE 100 was down 0.4 per cent, and CAC 40 down 0.1 per cent, while DAX 30 was up 0.3 per cent in opening trades.

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Markets at Lunch (01:30 PM)

LIVE market updates: The key benchmark indices have pared gains and were marginally in red in noon deals. The BSE Sensex was down 34 points at 60,104, and the NSE Nifty was at 17,916, down 14 points.

Tata Steel was the major loser among the Sensex 30 pack, down 2 per cent at Rs 1,337. Tech Mahindra and Reliance were the other prominent losers. On the other hand, Titan, Sun Pharma, Maruti, NTPC, Larsen & Toubro and Axis Bank were the notable gainers.

Among sectors, the BSE Realty index had surged 2.2 per cent, and the Auto index was up a per cent. The Metal and Energy indices were down a per cent each.

Elsewhere in Asia most markets were in negative zone. China's Shanghai Composite index was down 1.1 per cent, the S&P/ASX200 index declined 0.6 per cent, and Nikkei slipped 0.4 per cent. Hang Seng was down 0.3 per cent. Kospi, however, was up 1.2 per cent.

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Markets at noon

LIVE market updates:
Buying momentum continues to be firm in the broader markets where smallcaps are seeing solid gains. The BSE SmallCap index is holding its 1-per cent gain with individual stocks like Allcargo Logistics (up 17 per cent), Purvankara (11.5 per cent), Tube Investments of India (10 per cent), Barbeque Nation (9 per cent), and Indiabulls Real Estate (8 per cent) leading the list of gainers.

In the MidCap space, the index is up 0.4 per cent with RBL Bank, Aditya Birla Capital, TVs Motors, and Tata Power trading higher in the range of 3-8 per cent.

Frontline indices, meanwhile, were exhibiting a lacklustre trade. The Sensex index is back above the 60,000-mark, up 75 points, while the Nifty index is testing 17,750.

Overall, the market breadth is in the favour of buyers with over 1,900 stocks trading higher on the BSE as against 1,080 stocks that fell. Sectorally, pharma, metal, IT, and FMCG indices are in the red.

Primary market update: The current subscription levels for all the active IPOs are as follows: Fino Payments Bank (96%); Policybazaar (62%); Sigachi Industries (14.5x); SJS Enterprises (40%).

Separarely, SoftBank Group-backed Indian logistics firm Delhivery has filed for an initial public offering of up to 74.6 billion rupees ($997.33 million), joining a long list of startups that have tapped the capital market this year3 million). The IPO will consist of a fresh issue of shares worth 50 billion rupees and an offer for sale of shares worth 24.6 billion rupees, according to a copy of its draft herring prospectus dated Nov 1.

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Markets at 11 AM

LIVE market updates:
The benchmark indices are trading near day's low at this hour as profit booking in heayweights continue.

The BSE Sensex is down 146 points at 59,992 while the Nifty is down 35 points at 17,896 level.

Sun Pharma, Tech M, RIL, ITC, Kotak Bank, Tata Steel, and HDFC twins are down in the range of 0.3 per cent to 3 per cent.

The broader markets continue to outperform with the BSE SmallCap index now up 1 per cent.

On the results front, Godrej Properties has reported a net profit of Rs 35.7 crore for Q2FY22 and a revenue of Rs 129.3 crore. The stock is down 1.15 per cent on the BSE.

Meanwhile, in the primary market, media reports suggest Delhivery will soon file DRHP for IPO, seeking valuation of around $5.5 billion. The IPO issue size will likely be at Rs 7,128 crore.

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Markets at 10 AM

LIVE market updates:
Profit-booking in metals, pharma and select heavyweights like Reliance Industries, HDFC, ITC, SBI, and Tech M has brought the benchmark indices off highs.

At 10:10 AM, the Sensex index was at 60,118 levels, down 21 points, while the Nifty50 was at 17,923, down 6 points.

In the broader market, however, the BSE MidCap index was up 0.4 per cent and the BSE SmallCap index was up 0.8 per cent.

Sectorally, shares of the companies engaged in Shipping business were rallying on the bourses after data showed exports in the month of October surged over 40 per cent. Shreyas Shipping rallied over 13 per cent in the intra-day trade, followed by GE Shipping Corp (4 per cent), and SCI (3 per cent).

On the flipside, the Nifty Healthcare index was down 1 per cent with Sun Pharma falling over 3 per cent, Dr Reddy's Labs (1.5 per cent), and Dr LalPath Labs (1 per cent).

In the currency markets, rupee opened at 74.85 per US dollar compared with Monday's close of 74.87/$.

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Opening Bell

LIVE market updates: Bulls are tightening their grip over Dalal Street, firmly supporting gains in early deals. Resumption of FII buying, a solid economic recovery, and robust Q2 results are some of the factors bolstering the sentiment.

The BSE Sensex index is quoting 253 points higher at 60,392 levels in early morning trades while the Nifty50 is holding above the 18,000-mark.

NTPC, Titan, Bajaj Finance, Power Grid, L&T, and Bajaj Finserv are the top gainers on the 30-pack index and Tech M, IndusInd Bank, Tata Steel, and Sun Pharma are the top laggards.

Individually, shares of Tata Motors advanced 3 per cent after the auto major reported a consolidated net loss of Rs 4,415.5 crore for the quarter ended September owing to the dual impact of semiconductor shortage and high input prices. The company had posted a net loss of Rs 314 crore in the year-ago period. READ MORE

In the broader markets, the BSE MidCap and SmallCap indices gained about 0.3 per cent and 0.6 per cent, respectively.  

Sectorally, the Nify Metal index is leading the list of losers, down 0.5 per cent. On the upside, the Nifty PSU Bank and Auto indices are up over 1 per cent each.

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Pre-open session (Updated at 9:09 AM)

LIVE market updates:
Buyers are trying to make a comeback on the Street for second straight day. The BSE Sensex was up 246 pointd at 60,384 levels at 9:07 AM while the Nifty50 neared 18,000-mark at 17,990 levels.

PowerGrid, M&M, Titan, Bajaj Finance, and ITC were the top Sensex gainers in the pre-open session while IndusInd Bank, Nestle India, and Dr Reddy's Labs were the only losers.

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(Updated at 8:20 AM)

LIVE market updates:
Stock-specific action, Q2 results, and global cues will guide the indices on Tuesday. On Monday, the BSE benchmark index reclaimed its 60,000-mark, and the NSE Nifty surged past the 17,900-level, with gains of 831 and 258 points, respectively.

Primary Market action
Policy Bazaar (PB Fintech Ltd) IPO subscription had crossed the half-way mark by close on Day 1 of the issue. Sigachi and SJS Enterprises IPO were subscribed over 9x and 30 per cent, respectively.

Fino Payments Bank IPO closes today, and the issue has been nearly subscribed at close on Monday.

Earnings Today
Bharti Airtel, Bank India, Bombay Dyeing, eClerx, Gillette India, HCL Infosys, Indoco Remedies, Jindal Steel & Power, Minda Corp, PNB Housing, Radico Khaitan, Thangamayil Jewellery, Thirumalai Chemicals, Trent, Unichem Labs and Union Bank of India. 

Global cues

The US markets ended higher on Monday led by Tesla and energy shares. The Dow Jones was up 0.3 per cent, the S&P 500 gained 0.2 per cent and the Nasdaq added 0.6 per cent.

This morning in Asia, Hang Seng had soared 1.7 per cent. Kospi had rallied 1.5 per cent, and Taiwan Weighted index was up 0.6 per cent. Shanghai Composite had also moved up 0.2 per cent. Nikkei, however, had slipped 0.4 per cent and the S&P/ASX200 was down 0.4 per cent.


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