Second Day Of Gains
Indian equities ended higher for the second day in a row as benchmark indices saw buying interest in banking, auto and technology names.
The S&P BSE Sensex ended 0.9% higher at 49,661 while the NSE Nifty 50 also gained a similar quantum to end at 14,819.
All sectoral indices ended today's trading session with gains. The PSU Bank index was the top sectoral gainer, ending 2% higher while the Nifty Bank gained close to 500 points or 1.5% to end at 32,991.
The Nifty Auto index was the other major sectoral gainer, ending with gains of 1.6% while the Nifty I.T. index ended the day with gains of 1.1%.
The Nifty Metal index ended higher for the eighth straight day with gains of 0.9%. This is the longest winning streak for the index in the last eight months. It also ended at the highest level since April 2011.
Broader markets outperformed the benchmark indices in today's trading session. The Nifty Midcap index rose 1.3% while the Smallcap index ended with gains of 1.7% in today's session.
The India Volatility Index fell 2.8% to close at 20.25.
1,264 stocks on the NSE ended with gains while 621 stocks reported losses.
While sentiment was risk-on for the equity markets, the rupee had a day to forget. The currency fell 1.5% - its biggest single-day drop since August 2019 to end at 74.56, which is the lowest level in over four months.
How Did The Sectoral Indices Fare
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- Total funded assets up 6.6% QoQ and 10.1% YoY to 1.17 lakh crore
- Total customer deposits up 6.9% QoQ and 43.1% YoY to 82,628 crore
- CASA Ratio at 51.95% from 48.31% in December 2020
- Average Liquidity Coverage Ratio at 155% Vs 132% in December 2020
- Retail funded assets including the PSL buyouts, constitute 67% of the overall funded assets.
- Shares gained as much as 4.3% to Rs 57.7 and are up for the second straight day.
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- New export order worth Rs 745 crore won from Germany
- The order is to be completed by July, 2021.
- To execute the order from its own manufacturing facilities.
- Shares gained as much as 3.75% to Rs 498.9, post the announcement.
Benchmark Indices Hold On To Gains
- Nifty up 1.1% at 14,842
- Sensex up 1.1% at 49,761
- Nifty Bank up 1.6% at 33,027
- Nifty Midcap index up 1.2%
- Nifty Smallcap index up 1.6%
- India Volatility Index down 2% to 20.41
- PSU Bank index remains the top sectoral gainer; up 2.2%
- Nifty Auto and Nifty I.T. index gain 1.3% each
- Nifty Media and Nifty Pharma indices gain 1% each
- JSW Steel remains the top Nifty gainer; up 3.1%
- 44 out of the 50 index constituents trade with gains
- Tata Consumer Products is the top Nifty laggard; down 1.7%
- 1,280 stocks on the NSE trade with gains while 588 decline
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RailTel Corporation Wins Orders
- Order worth Rs 22.38 crore won from Controller General of Defence Accounts, for setting up of Network Operation Centre.
- Order worth Rs 12 crore won from Axom Sabra Siksha Abhiyan Mission for deployment of Artificial Intelligence based Identification system for capturing attendance and management of SDMIS.
- Shares gained as much as 3.14% to Rs 126.4.
All Stocks On The Nifty Bank Gain
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Tata Power Doubles Manufacturing Capacity Of Cells & Modules
- Expands manufacturing of cell to 530 MW from 300 MW with Mono PERC
- Expands module manufacturing capacity to 580 MW from 400 MW
- Total production capacity of cells and modules now at 1,100 MW.
- Expansion based on significant increase in demand seen for solar modules.
Benchmark Indices Hold On To Gains
- Nifty up 1.1% at 14,839
- Sensex up 1.1% at 49,753
- Nifty Bank up 1.3% at 32,943
- Nifty Midcap index up 0.9%
- Nifty Smallcap index up 1.8%
- India Volatility Index down 1.6% to 20.5
- PSU Bank index remains the top sectoral gainer; up 2.5%
- Nifty Auto index gains 1.3% while Pharma index gains 1.1%
- NIfty Metal and Nifty Realty index gain 0.9% each while FMCG index up 0.8%
- JSW Steel remains the top Nifty gainer; up 2.8%
- 45 out of the 50 index constituents trade with gains
- Adani Ports is the top Nifty laggard; down 2%
- 1,336 stocks on the NSE trade with gains while 484 stocks decline
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PSU Bank Index Is The Top Sectoral Gainer
Steel Strips Wheels Wins Orders
- Confirms export orders of close to 4 lakh wheels for U.S. and EU caravan trailer market, U.S. Mobile Home and U.S. Truck Trailer market.
- Company to complete its execution of the order by early-July 2021 from its Chennai and Dappar plants.
- Orders are d at $5.7 million or Rs 42 crore.
- Shares gained as much as 1.2% to Rs 743.6 and are up for the seventh straight day.
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Benchmark Indices Extend Gains
- Nifty up 0.8% at 14,805
- Sensex up 0.8% at 49,613
- Nifty Bank up 1.1% at 32,838
- Nifty Midcap index up 0.9%
- Nifty Smallcap index up 1.2%
- India Volatility Index down 0.2% to 20.8
- PSU Bank index is the top sectoral gainer; up 1.7%
- Nifty Realty index gains 1.5% while the Metal index is up 1.3%
- Nifty Auto gains 0.9% while FMCG index is up 0.8%
- Nifty I.T. is the only sectoral laggard; down 0.2%
- Adani Ports is the top Nifty gainer; up 2.8%
- 42 out of the 50 index constituents trade with gains
- Tata Consumer Products is the top Nifty laggard; down 1%
- 1,334 stocks on the NSE trade with gains while 427 decline
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A Subdued Start To Trade
Indian equities opened little changed in mid-week trading after futures cooled off from their opening highs. Asian equities are trading positive while Wall Street ended lower overnight, albeit on tepid volumes.
The S&P BSE Sensex opened 0.15% higher at 49,277 while the NSE Nifty 50 index opened 0.2% higher at 14,716.
Most sectoral indices have opened flat this morning. The Nifty Metal index is up 0.5% while the Pharma index has opened with gains of 0.4%. Pharma and Metal stocks were also the outperformers in Tuesday's trading session. The Nifty Metal index has opened higher for the eighth straight day.
Broader markets too have opened largely in-line with the benchmark indices. The Nifty Midcap and Smallcap indices have both opened with gains of 0.3% each.
1,058 stocks on the NSE have opened with gains while 467 are trading lower.
Current Market Update
Futures Off The Session's High
Good Morning!
Indian equities managed to eke out modest gains on Tuesday in what turned out to be a volatile trading session. Gains were led by pharma, FMCG and metal stocks, along with Adani Ports which saw its biggest single-day gain since January 2009.
The focus on Wednesday will be on the rate decision of the Monetary Policy Committee, which will be announced at 10 a.m.
Futures have cooled off from the session's highs and are currently indicating a flat start to mid-week trading. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, were little changed at 14,752, as of 8:10 a.m.
Asian equities are trading near their all-time highs, even as peers on Wall Street saw declines overnight. Shares in Japan, Australia and South Korea rose along with the MSCI Asia Pacific index.
- Volumes on the U.S. exchanges slipped below the mark of 10 billion shares for the first time this year.
- Futures on the Dow Jones are currently flat. The index fell 0.3% on Tuesday.
- West Texas Intermediate crude rose 0.5% to $59.64 per barrel.
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