Sensex gains 383pts, broader indices outperform; Tata Steel up 4%, RIL 2.4%

Topics MARKET LIVE | Markets | Q2 results

Closing Bell

The key benchmark indices gyrated between zones in trade on Tuesday before firming-up in the latter half of the trading session taking cues from the broader markets. The BSE Sensex opened marginally higher at 60,997, but soon jumped to a high of 61,405. The BSE index thereafter slipped into negative zone on account of weakness in select index heavyweights only to bounce back in green. Aggressive buying towards the fag end of the trading day, saw the Sensex jump to a high of 61,498, and finally ended 383 points higher at 61,350.

The NSE Nifty moved in a range of 211 points, between a high of 18,310 and a low of 18,099, before settling with a gain of 143 points at 18,268.

Tata Steel was the top gainer in the Sensex 30 pack, up over 4 per cent at Rs 1,348. Titan surged 3.7 per cent to Rs 2,468. Asian Paints, Bajaj Finance and Nestle India also jumped over 3 per cent each.

Tech Mahindra, Kotak Bank and Reliance Industries were up around 2.5 per cent each. ITC, UltraTech Cement, Bajaj Finserv and SBI also finished with notable gains.

On the other hand, IndusInd Bank slipped nearly 2 per cent. ICICI Bank and PowerGrid Corporation were the other notable losers.

The broader markets out-performed the benchmark indices by a wide margin. The BSE Midcap index gained 1.8 per cent, while the Smallcap index rallied 2.2 per cent as against a 0.6 per cent up move on the BSE benchmark.

All sectoral indices also ended in the positive zone. The BSE Realty index surged 3.4 per cent, followed by a near 3-per cent gain in the BSE Consumer Durables and Metal indices. The Auto and Energy index also gained 2 per cent. The overall breadth too was fairly positive, with 2,224 advancing shares versus 1,051 declining stocks on the BSE.

In the broader markets, sugar as a sector was also in demand today on hopes of healthy earnings, after Dwarikesh Sugar yesterday reported strong Q2 numbers. Balrampur Chini and Triveni Engineering were the major gainers. READ MORE

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Markets at 02:30 PM

LIVE market update: The key benchmark indices were in catch-up mode with the broader indices, as they firmed-up in noon trades. The BSE Sensex was up 293 points at 61,260, and the NSE Nifty had advanced 114 points to 18,239.

Kotak Bank was the top gainer in the Sensex 30 pack, up 3.5 per cent at Rs 2,232. Tech Mahindra and Tata Steel had surged over 3 per cent each. Nestle India, Titan, Reliance Industries, UltraTech Cement and Bajaj Finance were the other major gainers.

On the flip side, IndusInd Bank had slipped over 2 per cent. ICICI Bank, PowerGrid Corporation and Hindustan Unilever were the notable losers.

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Markets at Lunch (01:30 PM)

LIVE market update:
The key benchmark indices continue to gyrate between zones owing to a divergent trend in index heavyweights. Reliance, Kotak Bank and HDFC are helping the BSE Sensex move higher, while ICICI Bank, Hindustan Unilever and Infosys weigh on the index.

The Sensex was up 46 points at 61,013, and the NSE Nifty was up 42 points at 18,167. India VIX was down 2.2 per cent at 17.22.

The broader markets continue to out-perform the key benchmark indices. The BSE Midcap and Smallcap indices were up 1 per cent and 1.5 per cent, respectively. All sectoral indices were also trading on a positive note.

In the broader markets, HG Infra has soared 15 per cent to Rs 819.55 in intraday trades after the company received Letter of Award (LoA) from National Highways Authority of India (NHAI) for the projects worth of Rs 2,297 crore. READ MORE

TCI Express was trading at fresh life-time high, up as much as 13 per cent after ICRA reaffirmed ratings of the commercial paper of the company and a strong July-September quarter (Q2FY22) earnings. READ MORE

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Markets at Noon

LIVE market update:
Amid profit booking in private banking counters, along with select IT and FMCG names, but buying in metals and PSBs, benchmark indices were oscillating between gains and losses

At 12:05 PM, the BSE Sensex was at 61,028 level, up 61 points while the Nifty50 was at 18,170, up 45 points. Both the indices had hit a low of 60,791 and 18,099 earlier today.

The broader markets, however, continued to hold their ground and were up over 1 per cent.

On the results front, Canara Bank reported net profit of Rs 1,332.6 crore for the July-September quarter and NII of Rs 6,274 crore. Shares of the public lender slipped arounf 2 per cent post the announcement as loan growth came in at 5.4 per cent YoY compared with the Street's expectations of 8-10 per cent growth.

Japan and South Korean markets, meanwhile, ended higher on Tuesday with the former up 1.77 per cent and the latter 0.9 per cent. Australia's ASX200 added 0.03 per cent but Hong Kong's Hang Seng slipped 0.7 per cent.

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Markets at 11 AM

LIVE market updates:
After starting on a firm note, benchmark indices gave up most of their gains and were trading around flat line in late morning deals.

At 11:10 AM, the headline Sensex index was at 60,998 levels, up just 30 points. The NSE Nifty50, meanwhile, was at 18,162, up 37 points.

Profit booking in private banks, such as Axis Bank (down 1.6 per cent), Kotak Bank, IndusInd Bank, and ICICI Bank, was exerting pressure on the frontline indices as all other sectors were trading with decent gains.

While private banks were trading with negative sentiment, PSBs continued to extend gains. Individually, shares of Bank of Baroda (BoB) and Punjab National Bank (PNB) hit fresh 52-week highs, regaining Rs 50,000 market capitalisation (m-cap) on Tuesday on the back of a stable outlook. READ MORE

In the currency market, the rupee was quoting at 75.13 per US dollar at 11:15 AM. The domestic currency had opened at 75.04 per $, relative to Monday's close of 75.08/$.

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Markets at 10 AM

LIVE market updates:
Indian equities built on their gains and were trading near the day's high at around 10:00 AM with PSB, realty, and IT stocks leading from the front.

The key NSE indices for the above mentioned sectors were up 3 per cent, 2 per cent, and 1.3 per cent, respectively.

Overall, the BSE Sensex was quoting at 61,383 levels, up 417 points or 0.7 per cent, while the broader 50-share Nifty reclaimed the 18,250-mark and was at 18,261, up 0.75 per cent.

The broader markets stabilised on Tuesday, too, after days of massive selling witht the BSE MidCap and SmallCap indices up 1.45 per cent and 1.8 per cent, respectively.

Jagran Prakashan, Hikal, Kei Industries, Subros, and Home First Finance were up in the range of 8 to 12 per cent in the smallcap space while Lodha, IRCTC, Tata Power, Sona Comstar, and IDFC First Bank were the top midcap gainers. These shares rallied up to 9 per cent on the BSE.

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Opening Bell (Updated at 9:25 AM)

LIVE market updates:
The frontline indices extended their winning ways into second day, on the back of across-the-board buying. That apart, positive global cues also lent support to the markets.

In early trade, the headline S&P BSE Sensex was at 61,231 levels, up 263 points or 0.43 per cent while the Nifty50 index was testing 18,200 levels.

In the broader markets, the BSE MidCap and SmallCap indices added 0.4 per cent and 0.6 per cent, respectively. 

Among individual stocks, Tech M shares surged over 5 per cent in early trade after the company's Q2FY22 net rose 25.8 per cent YoY to Rs 1,339 crore, while revenue grew 16.1 per cent YoY to Rs 10,881 crore. 

CEAT shares, however, declined over 6 per cent after Q2FY22 net plunged 76.9 per cent to Rs 42 crore as against Rs 181.9 crore in Q2FY21. Revenue, however, was up 23.9 per cent at Rs 2,451.8 crore from Rs 1,978.5 crore in the same period.

Sectorally, all the indices were trading in the green barring the Nifty Private Bank index, which was down 0.04 per cent.

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Pre-open session (Updated at 9:05 AM)

LIVE market updates:
The BSE Sensex advanced 63 points to quote at 61,030 levels in pre-open session. The Nifty, on the other hand, held above the 18,100-mark at 18,132.

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LIVE market updates (Updated at 8:15 AM)
: The markets are likely to start trade on a quiet note despite positive global cues and strong Q2 earnings by India Inc, as valuations concerns linger.

The BSE Sensex ended Monday with a gain of 145 points, while the NSE index was up 10 points at 18,1125. The SGX Nifty was up 36 points at 18,177 at 08:10 AM.  

Earnings today

ABB, Ambuja Cement, Axis Bank, Bajaj Finance, BirlaSoft, Canara Bank, Central Bank, Cipla, Gati, Greaves Cotton, Hikal Chemicals, IRB, Kotak Bank, Mahindra Lifespace, Mahanagar Gas, MRPL, Persistent Systems, Torrent Pharma and Zensar Technologies are some of the prominent companies to announce September quarter results today.

Global cues

The US markets ended higher in trade on Monday on the back of robust earnings even as oil traded at 3-year highs, and gold too rose amid persistent worries about inflation. The Dow gained 0.2 per cent, and the S&P 500 was up 0.5 per cent, while the Nasdaq jumped 0.9 per cent.

Brent crude rose 0.13 per cent to $86.10 a barrel in early trade today. Gold prices rallied nearly a per cent to $1,807.71 per ounce.

In Asia, Japan's Nikkei rallied 1.7 per cent early Tuesday. Shanghai Composite and Kospi were up over 0.5 per cent each. The S&P/ASX 200 also added 0.2 per cent.


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