Sensex, Nifty Snap Five-Day Losing Streak; Metals, Oil PSUs Shine

Indian equities ended off the highest point of the day but managed to snap a five-day losing streak in what turned out to be a volatile trading session.

The S&P BSE Sensex just managed to end in the green, closing with gains of 7 points at 49,751. The NSE Nifty 50 index ended 30 points higher at 14,707. The Sensex and Nifty fell nearly 600 and 150 points from their respective day's high.

Among the sectoral indices, Metal stocks continued to shine with the Nifty Metal index ending 3.9% higher. The 15-stock gauge ended at the highest level since April 2018.

Realty stocks were the other outperformers in today's session. The Nifty Realty index ended with gains of 2.7%. Other outperformers today were oil PSUs like ONGC, GAIL, along with the Oil Marketing Companies.

Most other sectoral indices ended little changed. The Nifty Bank also traded in a 700 point range, eventually ending 0.4% lower.

Broader markets outperformed the benchmarks in today's session. The Nifty Midcap index ended 1% higher while the Smallcap index gained a similar quantum to end with gains of 0.9%.

After a 15% surge on Monday, the India Volatility Index ended 1% lower at 25.23.

1,142 stocks on the NSE ended with gains while 756 stocks posted losses.

• Marketing margins continue to offset the pain of poor refining margins
• Refining margins continue to record gradual uptick
• While debt has reduced considerably year-on-year for OMCs, HPCL's balance sheet remains debt ridden
• Indian Oil remains the preferred pick among OMCs on the back of a diversified Ebitda mix and best free cash flow generation profile over FY22-23E
• Upgrade BPCL to buy from neutral; price target raised to Rs 520 from Rs 419
• Downgrade HPCL to neutral from buy on concerns over project execution risks and rising debt; price target cut to Rs 277 from Rs 301
• Reiterate buy rating on Indian Oil with a price target of Rs 142

• Telecom major and Qualcomm Technologies to collaborate for accelerating 5G in India
• Will collaborate to enable a wide array of use cases, including 5G Fixed Wireless Access
• Aims to allow a faster rollout of broadband services in a cost effective and expeditious manner across India
• Shares gained as much as 1.2% to Rs 577.

• Nifty up 0.45% at 14,740
• Sensex up 0.4% at 49,917
• Nifty Bank down 0.3% at 35,201
• Nifty Midcap index up 0.8%
• Nifty Smallcap index up 0.7%
• India Volatility Index down 1.8% to 25
• Nifty Realty remains the top sectoral gainer; up 3%
• Nifty Metal index is the other sectoral gainer; up 2.2%
• Nifty I.T. index gains 1% while PSU Bank and FMCG index up 0.7% each
• ONGC remains the top Nifty gainer; up 6.3%
• Kotak Mahindra Bank is the top Nifty laggard; down 3.4%
• 1,213 stocks on the NSE trade with gains while 622 decline

• Order from the Indian Army for protected vehicles under Emergency Procurement.
• Order valued at Rs 177.95 crore for supply of Kalyani M4 vehicles.
• Shares gained as much as 3.6% to Rs 610.

• Nifty up 0.5% at 14,749
• Sensex up 0.4% at 49,965
• Nifty Bank up 0.4% at 35,385
• Nifty Midcap index up 0.6%
• Nifty Small cap index up 0.7%
• India Volatility Index down 2.1% to 24.9
• Nifty Realty index is the top sectoral gainer; up 3.1%
• Nifty Metal index is the other sectoral gainer; up 1.3%
• PSU Bank index gains up 0.9% while Nifty I.T. is up 0.6%
• ONGC is the top Nifty gainer; up 6.4%
• Asian Paints is the top Nifty laggard; down 2.2%
• 1,154 stocks on the NSE are trading with gains while 613 stocks decline

Indian equities opened higher after posting five consecutive days of losses. Sentiment across the Asia Pacific is mixed with markets in Japan being closed due to a holiday.

The S&P BSE Sensex opened 0.5% higher at 49,994 while the NSE Nifty 50 index gained 0.7% to start the trading day at 14,782.

Most sectoral indices which declined on Monday have seen a rebound this morning. The Nifty Bank has opened 0.8% higher while the Metal index has begun trading with gains of 1.1%.

Indices like the Nifty FMCG and the PSU Bank index have opened 0.5% higher while the I.T. index, which fell nearly 3% on Monday, has opened 0.7% higher.

Broader markets too have opened with gains, in-line with the benchmark indices. The Nifty Midcap index is up 0.5% while the Small cap index is up 0.7% at the start of trade.

Indian equities fell the most in two months on Monday, ending lower for the fifth straight session as a rise in active Covid-19 cases across the country dented sentiment.

The India Volatility Index also rose the most in two months, ending 14.5% higher at 25.47 - the highest level since July last year.

Futures are indicating a positive start to today's trading session. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.46% to 14,742 as of 7:55 a.m.

Asian equities are steady after opening lower. Stocks in Hong Kong and Australia are seeing modest gains while those in South Korea are underperforming. Japanese markets are shut for trade today due to a holiday.

Futures on the Dow Jones are trading 65 points higher. The index ended flat overnight.

The Bloomberg Commodity Spot Index rose to the highest level since March 2013. Goldman Sachs said that oil prices can top $70 per barrel in the coming months. West Texas Intermediate crude rose 1.4% to $62.53 per barrel while Brent consolidated above the $65 per barrel mark.

Yield on the 10-year treasuries rose to 1.37% 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.