Third Day Of Gains For Sensex, Nifty Led By Banks, Metals

Indian equity markets closed their first full trading session of Samvat 2077 by ending higher for the third straight day.

The S&P BSE Sensex ended 0.7% higher at 43,952 while the NSE Nifty 50 gained 0.8% to end at 12,874. Both benchmark indices registered record closing highs.

Tata Group stocks were the top performers on the Nifty today. Both Tata Steel and Tata Motors ended with gains of 6% each.

The Sensex and Nifty had opened higher courtesy gains in Reliance Industries but fell to the day's low after the stock gave up gains to trade lower. Gains in today's session were aided by banking stocks - both private and PSU banks, along with metal stocks.

The Nifty Bank index ended 2% higher to close at a 10-month high. The PSU Bank index too ended with gains of 2.2%.

The Metal index was the top performing sectoral index in today's session, ending with gains of 2.5%. The Realty index ended 1.9% higher while the Auto index ended a percent higher.

Broader markets had a mixed day. The Nifty Midcap index ended 1.1% higher while the Smallcaps underperformed, with the index ending with gains of 0.3%.

The India Volatility Index gained 3.5% but remained below the mark of 20 at 19.8.

1,062 stocks on the NSE ended with gains while 804 posted losses.

• Benchmark indices cool off from the day's high
• Nifty up 0.4% at 12,828
• Sensex up 0.4% at 43,801
• Nifty Bank up 1.1% at 28,906
• Nifty Midcap index up 0.5%
• Nifty Smallcap index down 0.2%
• India Volatility Index up 5.9% to 20.25
• Nifty Metal index remains the top sectoral gainer; up 2.5%
• Nifty PSU Bank is the other major gainer; up 1.3%
• Nifty Media is the top sectoral laggard; down 1.2%
• Nifty Pharma down 0.6% while Nifty I.T. down 0.4%
• Tata Steel remains the top Nifty gainer; up 6.8%
• BPCL remains the top Nifty laggard; down 3.8%
• 923 stocks on the NSE are trading with gains while 867 decline

• Benchmark indices gain but off the day's high
• Nifty up 0.6% at 12,854
• Sensex up 0.6% at 43,911
• Nifty Bank up 1.4% at 28,995
• Nifty Midcap index up 0.7%
• Nifty Smallcap index down 0.1%
• India Volatility Index up 5.5% to 20.1
• Nifty Metal index is the top sectoral gainer; up 2.6%
• Nifty PSU Bank index is the other sectoral gainer; up 2%
• Nifty Pharma index down 0.6% while the I.T. index falls 0.3%
• Tata Steel is the top Nifty gainer; up 5.9%
• BPCL is the top Nifty laggard; down 3.5%
• 998 stocks on the NSE are trading with gains while 725 stocks decline

Indian equity markets have begun the truncated week on a strong note, courtesy gains in heavyweight Reliance Industries and optimism surrounding the arrival of a Covid-19 vaccine.

The S&P BSE Sensex opened 1% higher at 44,095 while the NSE Nifty 50 index gained 1.2% at open to 12,932. Benchmark indices had ended the Mahurat Trading session with modest gains.

Among the sectoral indices, the Metal index was the top gainer, opening 1.1% higher. Other indices like Nifty I.T., Nifty FMCG and Nifty Media gained 0.7%, as did the Nifty Bank. The PSU Bank index was up 0.6% while the Realty index gained 0.5% as trading began.

Broader markets are underperforming at the start of trade. The Midcap index is up 0.4% while the Smallcap index has gained 0.3%.

1,146 stocks on the NSE have opened with gains while 369 are declining.

Good Morning!

Samvat 2077 began on a positive note for the equity markets. The benchmark indices ended higher for the third straight Mahurat trading session.

Today is the first full trading session of the new year as well as for the truncated week due to a market holiday on Monday. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.4% to 12,885 as of 8:20 a.m. on Tuesday.

In the F&O space, for this Thursday—that is the weekly options expiry—the maximum open interest for the call side lies at the 13,000 strike, while that on the put side lies at the 12,700 strike.

Stocks in the F&O ban include BHEL, Canara Bank, Indiabulls Housing Finance, JSPL, LIC Housing Finance, SAIL, Sun TV and Tata Motors.

Bharat Petroleum Corp. and Reliance Industries Ltd. will be in focus on the back of news flow. With earnings season coming to a close, the markets will now look for triggers going forward.

Asian markets are mixed this morning even as reports about Moderna's vaccine efficiency took the S&P 500 and the Dow Jones to an all-time high on Monday.

Futures on the Dow Jones are currently trading 75 points lower. The index ended 1.6% higher on Monday.

West Texas Intermediate crude rose 0.3% to $41.47 per barrel.

Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.