Sensex Kicks Off 2019 With 186-Point Rally
A trader typing on a keyboard (Photographer: Alex Kraus/Bloomberg)  

Sensex Kicks Off 2019 With 186-Point Rally

Latest First
  • Oldest First

BQ Live

Closing Bell: Sensex, Nifty Begin 2019 On Strong Note

Indian equity benchmarks kicked off 2019 on a strong note led by gains in HDFC twins, ICICI Bank and Infosys.

The S&P BSE Sensex rose 0.52 percent or 186 points to 36,255 and the NSE Nifty 50 Index advanced 0.44 percent or 48 points to 10,910.

For most part of the day, Sensex and Nifty traded with a negative bias but late buying in private sector lenders lifted the benchmarks higher.

Fourteen of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Realty Index's 2.2 percent gain. On the flipside, S&P BSE Metal Index was top loser, down 0.74 percent.

Atul Auto Locked In Upper Circuit After Sales Jump 50% In December

Shares of the Rajkot-based three-wheeler maker were locked in a 20 percent upper circuit at Rs 349 after its sales jumped 49.90 percent to 4,332 units in December, Atul Auto said in an exchange notification.

Markets To See Political Overhang In First Half Of 2019: Ajay Bagga

Markets will see political overhang in the first half of 2019 and we are recommending clients to sit on some amount of cash and invest in good quality large caps, Ajay Bagga, executive chairman at OPC Asset Solutions told BloombergQuint in an interview.

Key highlights of the conversation:

  • Markets will see political overhang in the first half of 2019.
  • Recommending clients to sit on some amount of cash and invest in good quality large caps and not try to dip into small caps as they can see violent moves.
  • There is strong possibility of either of the national political parties forming stable government at centre.
  • Think markets would bottom out between March-April and that could be a good time to buy the dips.
  • Investors should wait for allocating fresh money in markets.
  • Expecting 20 percent plus earnings growth for Indian markets.
  • Indian markets outperformed China by 30 percent on the back of domestic money entering Indian markets.
  • Like private sector corporate and retail focused banks.
  • Like consumption space on the back of more money in rural economy in form of farm loan waivers and pay commission based salary increase and arrears being paid out.
  • Cement stocks are likely to do well.
  • Not convinced about telecom sector's revival.
  • Not convinced about aviation stocks as passenger volumes are increasing but it is not reflecting in margins.
  • Metal stocks will rise only if there is a stimulus from China.

Market Check: Sensex, Nifty Recover On Buying Private Banks

Indian equity benchmarks recovered from intraday low levels led by gains in Axis Bank, Yes Bank, ICICI Bank and HDFC twins.

The S&P BSE Sensex rose 0.07 percent or 26 points to 36,095 and the NSE Nifty 50 Index was little changed at 10,865.

The Sensex rose as much as 335 points from intraday low levels while Nifty touched high of 10,885.30 and low of 10,807.10.

Eight of 11 sector gauges compiled by National Stock Exchange were trading higher led by Nifty Realty Index's 2 percent gain. On the flipside, Nifty Auto Index declined 0.7 percent on the back of weak December sales posted by M&M and Maruti Suzuki.

Escorts Gains After Tractor Sales Rise In December

Shares of Faridabad-based tractor maker erased losses and rose as much as 1.26 percent to Rs 715 after it reported December sales numbers.

  • Key sales highlights:
  • Tractor sales up 37.5 percent at 4,598 units
BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.