Second Day Of Gains
Indian equities ended higher for the second straight day, after fluctuating between the day's high and the day's low.
The S&P BSE Sensex ended 0.9% higher at 50,296 while the NSE Nifty 50 index gained another 1% to end at 14,919. 43 out of the 50 index constituents ended the day with gains.
Auto and I.T. stocks were the top performers of the day. The Nifty Auto index ended 3.2% higher as the top sectoral gainer while the Nifty I.T. index also ended with gains of over 3%.
FMCG and Pharma indices were the other sectoral gainers in today's session. Both the indices ended with gains of 1.4% each.
Among the other indices, the Nifty Realty, Nifty Metal and Nifty Media index ended with gains of 0.8% each respectively.
Broader markets outperformed in today's session. The Nifty Midcap index ended 1.7% higher while the Smallcap index gained 1.2% by the close of trade.
The India Volatility Index fell another 7.9% after Monday's 9% drop to end at 23.61.
1,160 stocks on the NSE ended the day with gains while 724 stocks undeperformed to end lower.
How Did The Sectoral Indices Fare
Record High For TTK Prestige
- Gains as much as 13.6% to Rs 8,080
- Biggest single-day gain in nearly a month
- Today's volumes are 6% below its 20-day average
- Stock enters overbought territory with Relative Strength Index (RSI) at 71
- Trading at 56 times its estimated EPS for the coming year
- Eight out of the 11 analysts tracking the stock have a buy recommendation; 1 sell call
- The stock crossed its 12-month Bloomberg consensus price target of Rs 7,457 in today's session
Vodafone Idea Augments Spectrum
- Entered the auction holding the largest quantum of spectrum with a very small fraction coming up for renewal.
- Used the opportunity to optimise spectrum holding post-merger to create further efficiencies in few circles
- Spectrum acquired in five circles will help enhance 4G coverage and capacity.
Traction In Pharma Companies
Lupin Launches Penicillamine Tablets
- Gets U.S. FDA approval for the launch of Penicillamine Tablets USP, 250 mg.
- Tablets are the generic equivalent of Depen Tablets, 250 mg of Mylan and is indicated in the treatment of Wilson's disease, Cystinuria and in patients with severe, active rheumatoid arthritis.
- Penicillamine Tablets USP, 250 mg had estimated annual sales of $5 million.
Benchmark Indices Fluctuate From The Day's High
- Nifty up 0.6% at 14,848
- Sensex up 0.4% at 50,046
- Nifty Bank down 0.25% at 35,208
- Nifty Midcap index up 1.4%
- Nifty Smallcap index up 0.9%
- India Volatility Index down 6% to 24.1
- Nifty Auto index remains the top sectoral gainer; up 3.3%
- Nifty I.T. index is the other major sectoral gainer; up 2.1%
- FMCG index gains 1.2% while Nifty Media and Nifty Pharma indices up 0.9% each
- Mahindra & Mahindra remains the top Nifty gainer; up 5.8%
- ONGC remains the top Nifty laggard; down 3%
- 1,140 stocks on the NSE trade with gains while 709 stocks decline
Bharti Airtel Strengthens Spectrum Portfolio
- Acquires 355.45 MHz spectrum for Rs 18,699 crore
- To cover an additional 90 million customers
- Secured pan-India footprint of Sub GHz spectrum which will help improve deep indoor coverage
- All the spectrum will enable the company to deliver 5G services in the future.
- 700 MHz band made no economic sense due to the high reserve price
Bank Without A Banking License?
JSW Energy At Highest In Nearly Three Years
- Top gainer on the Nifty Midcap index
- Gains as much as 13% to Rs 84
- Biggest single-day gain since June 2016
- Trades at the highest level since April 2018
- Today's volumes are 13 times its 20-day average
- One-month implied volatility at 88%
- Relative Strength Index (RSI) near overbought territory at 68
- Nine out of the 16 analysts tracking the stock have a buy recommendation; one sell call
- The stock crossed its 12-month Bloomberg consensus price target of Rs 77 in today's session
BPCL's Shareholders Set For A Dividend?
SREI Group Lenders Exploring Options
M&M Leads Gains On The Auto Index
Benchmark Indices Off The Day's High
- Nifty up 0.6% at 14,844
- Sensex up 0.5% at 50,091
- Nifty Bank gives up gains; trades flat at 35,287
- Nifty Midcap index up 0.9%
- Nifty Smallcap index up 0.7%
- India Volatility Index down 4.6% to 24.45
- Nifty I.T. index remains the top sectoral gainer; up 2%
- Nifty Auto index gains 1.4% while FMCG index is up 1%
- Most other sectoral indices are off the day's high
- Mahindra & Mahindra is the top Nifty gainer; up 3.9%
- ONGC is the top Nifty laggard; down 2.3%
- 1,137 stocks on the NSE trade with gains while 680 are declining
BPCL Approves Sale Of Its Stake In Numaligarh Refinery
Shipping Corporation Shares At 10-Year High
A 'Large Runway For Growth'
All Stocks On The I.T. Index Gain
Benchmark Indices Gain For Second Straight Day
- Nifty up 1% at 14,915
- Sensex up 1% at 50,373
- Nifty Bank up 0.9% at 35,612
- Nifty Midcap index up 1.1%
- Nifty Smallcap index up 1.2%
- India Volatility Index down 5.3% to 24.26
- Nifty I.T. index is the top sectoral gainer; up 2%
- Nifty Auto, Nifty Realty indices gain 1% each
- Nifty FMCG gains 0.8% while Nifty Media and Nifty Pharma up 0.5% each
- BPCL is the top Nifty gainer; up 5.5%
- Hindalco is the top Nifty laggard; down 0.9%
- 1,350 stocks on the NSE are trading with gains while 413 are declining
Spike In Global Volatility A Boon For India?
Benchmark Indices Open Higher
Indian equities opened higher for the second day in a row, despite futures cooling off from their respective session's high.
The S&P BSE Sensex opened 0.8% higher at 50,258 while the NSE Nifty 50 index opened 0.7% higher at 14,865.
Most sectoral indices have opened with gains in today's session. The Nifty Bank and Nifty Pharma index have opened 0.5% higher while the Nifty I.T. index is up 1%.
The Nifty Media and PSU Bank indices have opened with gains of 0.6% each while the FMCG and Metal indices have gained 0.4% each at the start of trading.
Broader markets too have opened higher this morning. The Nifty Midcap index is up 0.8% while the Smallcap index has risen 0.9% at the start of trade.
1,312 stocks on the NSE have opened with gains while 270 have opened lower.
Current Market Update
Second Day Of Gains Likely
Good Morning!
Indian equities recovered nearly half of Friday's losses as buying interest was witnessed across stocks and sectors.
Barring Bharti Airtel Ltd., 49 of the 50 Nifty constituents ended higher on Monday.
Futures are pointing to another positive start. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.76% to 14,905 as of 7:50 a.m. on Tuesday.
The street will watch out for BPCL's exit from Numaligarh Refinery, and auto sales data from Hero MotoCorp and Eicher Motors.
Most Asian markets are rising this morning, extending an overnight surge on Wall Street. Markets slipped in Japan and rose in Australia. South Korean equities, which reopened after a holiday, are outperforming.
Futures on the Dow Jones are fluctuating between gains and losses. The index ended 2% higher on Monday, while the S&P 500 saw its biggest single-day jump in nine months.
West Texas Intermediate crude fell 1.2% to $59.92 per barrel ahead of the OPEC meeting on Thursday. Treasury yields were steady along with the U.S. dollar, while gold fell 0.4% to $1,718.7/Oz. Bitcoin, too, traded with gains after a 8% surge on Monday.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.
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