Bulls troll bears on D-Street: Sensex ends 216 points up, NIfty50 above 7,650
The S&P BSE Sensex closed higher by 216 points, or 0.86 per cent, at 25,252 while the 50-stock barometer Nifty50 ended at 7,683, up 70 points, or 0.93 per cent.
By ET Online | Updated:
NEW DELHI: A surge in buying of beaten-down stocks like Reliance Industires, Vedanta, among others ensured that the domestic equity benchmarks snapped their six-session losing streak to close higher on Thursday. The indices shrugged off weak global cues and weakness ahead of the crucial US Federal reserve meet next week.
The S&P BSE Sensex closed higher by 216 points, or 0.86 per cent, at 25,252 while the 50-stock barometer Nifty50 ended at 7,683, up 70 points, or 0.93 per cent. RIL and Tata Steel were the top gainers on the BSE benchmark.
“The bounce-back can extend to 7,700-7,720. Today’s low has made some kind of a double bottom in the intraday sense and probably, for the next day or two, there is a very clear case for a bounce back, where one can go long on individual stocks, and the Nifty50 can give you a 50-70 point bounce-back," Sandeep Wagle, Founder & CEO, Power My Wealth.
For minute-by-minute market/stock updates, follow our Twitter handle @ETMarkets
Shares of real estate companies remained strong through the session as the Cabinet approved all 20 amendments to the Real Estate (Regulatory) Bill, 2013 increasing hopes that the Bill may pass in the Upper House where the ruling party is in minority. The BSE Realty index gained 1.63 per cent at close.
Havells India surged in the session to close 8.51 per cent up after the company announced divestment of majority stake in European lightings operations, Sylvania, to Shanghai Feilo Acoustics for nearly 148.8 million euros (about Rs 1,090 crore).
The broader market mirrored gains seen on the benchmark indices with the BSE midcap and smallcap indices closing higher by xx and xx per cent, respectively. Among the sectoral indices, the BSE Energy was the top gainer, up 2.43 per cent. RIL and MRPL were the top contributors to the gains seen on the index.
The sentiment on the Street remained positive with 18 of the BSE30 stocks ending the day in the green.
The European markets traded weak tracking similar trends seen in other Asian markets. The German DAX traded lower by 0.52 per cent while the French CAC40 was down 0.32 per cent. The pan-European Euro Stoxx 50 was trading with losses of 0.6 per cent. Britain's FTSE100 index was down 0.34 per cent.
Most other Asian markets traded weak. Japan's Nikkei ended lower by 1.32 per cent while the South Korean Kospi was up 0.20 per cent at close. Hong Kong's Hang Seng index was down 0.59 per cent at close while mainland China's Shanghai Composite closed lower by 0.39 per cent.
WHAT TOP EXPERTS ARE SAYING:
Buy Britannia; likely to maintain 14-15% revenue growth rate: Sharekhan
Maintain Buy on Aurobindo Pharma; set target of Rs 935: BofA ML
Initiates coverage with Outperform on Strides Shasun, set target of Rs 1,720: Credit Suisse
Initiate coverage on Zee Entertainment with Neutral; set target of Rs 393: Goldman Sachs
MARKETS THROUGH THE DAY:
Markets @ 3:00
Sensex: 25270.64, up 234 points; Nifty50: 7681.85, up 70 points
Top Gainers:
RIL (3.6%), GAIL (2.7%), NTPC (2.4%), HINDALCO (2.4%), HDFC (2.2%)
Top Losers:
M&M (1.9%), LUPIN (1.3%), TATA MOTORS (1.2%), SBI (1.1%), HUL (0.9%)
Markets @ 2:00
Sensex: 25216.82, up 180 points; Nifty50: 7663.15, up 50 points
Top Gainers:
RIL (3.0%), GAIL (2.7%), HINDALCO (2.4%), NTPC (2.2%), HDFC (2.1%)
Top Losers:
M&M (1.8%), LUPIN (1.3%), SBI (0.8%), MARUTI SUZUKI (0.8%), TATA MOTORS (0.7%)
Markets @ 1:20
Sensex: 25,130, up 94 points; Nifty50: 7,636, up 23 points
Top Gainers:
GAIL (2.72%), RELIANCE IND. (2.28%), NTPC (2.15%), HINDALCO (2.03%), HDFC (1.81%)
Top Losers:
M&M (1.96%), LUPIN LTD (1.76%), SBI (1.19%), MARUTI SUZUKI (1.17%), TATA MOTORS (1.09%)
Markets @ 12:00
Sensex: 25108.56, up 72 points; Nifty50: 7634.25, up 22 points
Top Gainers:
GAIL (2.4%), HINDALCO (2.4%), RIL (2.1%), NTPC (1.5%), VEDANTA (1.3%)
Top Losers:
SUN PHARMA (2.8%), LUPIN (2.5%), TATA MOTORS (1.5%), M&M (1.4%), MARUTI SUZUKI (1.3%)
Markets @ 11:05
Sensex: 25068.87, up 32 points; Nifty50: 7621.00, up 8.50 points
Top Gainers:
GAIL (2.4%), HINDALCO (2.4%), RIL (2.1%), NTPC (1.5%), VEDANTA (1.3%)
Top Losers:
SUN PHARMA (2.8%), LUPIN (2.5%), TATA MOTORS (1.5%), M&M (1.4%), MARUTI SUZUKI (1.3%)
Markets @ 10:20
Sensex 25,098, up 62 points, Nifty 7,628, up 16 points
Top Gainers:
HINDALCO (2.58%), GAIL (2.37%), VEDANTA LTD (1.88%), RIL (1.64%), NTPC (1.57%)
Top Losers:
LUPIN (2.95%), SUN PHARMA (2.12%), MARUTI SUZUKI (1.13%), M&M (1.01%), BHEL (0.92%)
Markets @ 9:20
The 30-share index was trading at 25,128, up 92 points or 0.37 per cent. It touched a high of 25,175.82 and a low of 25,119.28 in morning trade.
The Nifty50 was at 7,636 up 24 points or 0.32 per cent. It touched a high of 7,651.50 and a low of 7,633.80 in the first 30 minutes of trade.
The S&P BSE Midcap Index was up 0.24 per cent and BSE S&P Smallcap Index was trading 0.61 per cent higher.
Hindalco (up 1.5 per cent), RIL (up 1.2 per cent), HUL (up 1.04 per cent), and Tata Steel (up 0.86 per cent) were among the major Sensex gainers.
Lupin (down 1.4 per cent), ONGC (down 0.71 per cent), Tata Motors (down 0.34 per cent), Bharti Airtel (down 0.34 per cent), and HDFC Bank (down 0.2 per cent) were among the major Sensex losers.
The S&P BSE Sensex closed higher by 216 points, or 0.86 per cent, at 25,252 while the 50-stock barometer Nifty50 ended at 7,683, up 70 points, or 0.93 per cent. RIL and Tata Steel were the top gainers on the BSE benchmark.
“The bounce-back can extend to 7,700-7,720. Today’s low has made some kind of a double bottom in the intraday sense and probably, for the next day or two, there is a very clear case for a bounce back, where one can go long on individual stocks, and the Nifty50 can give you a 50-70 point bounce-back," Sandeep Wagle, Founder & CEO, Power My Wealth.
For minute-by-minute market/stock updates, follow our Twitter handle @ETMarkets
Shares of real estate companies remained strong through the session as the Cabinet approved all 20 amendments to the Real Estate (Regulatory) Bill, 2013 increasing hopes that the Bill may pass in the Upper House where the ruling party is in minority. The BSE Realty index gained 1.63 per cent at close.
Havells India surged in the session to close 8.51 per cent up after the company announced divestment of majority stake in European lightings operations, Sylvania, to Shanghai Feilo Acoustics for nearly 148.8 million euros (about Rs 1,090 crore).
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The broader market mirrored gains seen on the benchmark indices with the BSE midcap and smallcap indices closing higher by xx and xx per cent, respectively. Among the sectoral indices, the BSE Energy was the top gainer, up 2.43 per cent. RIL and MRPL were the top contributors to the gains seen on the index.
The sentiment on the Street remained positive with 18 of the BSE30 stocks ending the day in the green.
The European markets traded weak tracking similar trends seen in other Asian markets. The German DAX traded lower by 0.52 per cent while the French CAC40 was down 0.32 per cent. The pan-European Euro Stoxx 50 was trading with losses of 0.6 per cent. Britain's FTSE100 index was down 0.34 per cent.
Most other Asian markets traded weak. Japan's Nikkei ended lower by 1.32 per cent while the South Korean Kospi was up 0.20 per cent at close. Hong Kong's Hang Seng index was down 0.59 per cent at close while mainland China's Shanghai Composite closed lower by 0.39 per cent.
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WHAT TOP EXPERTS ARE SAYING:
Buy Britannia; likely to maintain 14-15% revenue growth rate: Sharekhan
Maintain Buy on Aurobindo Pharma; set target of Rs 935: BofA ML
Initiates coverage with Outperform on Strides Shasun, set target of Rs 1,720: Credit Suisse
Initiate coverage on Zee Entertainment with Neutral; set target of Rs 393: Goldman Sachs
ADVERTISEMENT
MARKETS THROUGH THE DAY:
Markets @ 3:00
Sensex: 25270.64, up 234 points; Nifty50: 7681.85, up 70 points
Top Gainers:
RIL (3.6%), GAIL (2.7%), NTPC (2.4%), HINDALCO (2.4%), HDFC (2.2%)
Top Losers:
M&M (1.9%), LUPIN (1.3%), TATA MOTORS (1.2%), SBI (1.1%), HUL (0.9%)
Markets @ 2:00
Sensex: 25216.82, up 180 points; Nifty50: 7663.15, up 50 points
Top Gainers:
RIL (3.0%), GAIL (2.7%), HINDALCO (2.4%), NTPC (2.2%), HDFC (2.1%)
Top Losers:
M&M (1.8%), LUPIN (1.3%), SBI (0.8%), MARUTI SUZUKI (0.8%), TATA MOTORS (0.7%)
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Markets @ 1:20
Sensex: 25,130, up 94 points; Nifty50: 7,636, up 23 points
Top Gainers:
GAIL (2.72%), RELIANCE IND. (2.28%), NTPC (2.15%), HINDALCO (2.03%), HDFC (1.81%)
Top Losers:
M&M (1.96%), LUPIN LTD (1.76%), SBI (1.19%), MARUTI SUZUKI (1.17%), TATA MOTORS (1.09%)
Markets @ 12:00
Sensex: 25108.56, up 72 points; Nifty50: 7634.25, up 22 points
Top Gainers:
GAIL (2.4%), HINDALCO (2.4%), RIL (2.1%), NTPC (1.5%), VEDANTA (1.3%)
Top Losers:
SUN PHARMA (2.8%), LUPIN (2.5%), TATA MOTORS (1.5%), M&M (1.4%), MARUTI SUZUKI (1.3%)
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Markets @ 11:05
Sensex: 25068.87, up 32 points; Nifty50: 7621.00, up 8.50 points
Top Gainers:
GAIL (2.4%), HINDALCO (2.4%), RIL (2.1%), NTPC (1.5%), VEDANTA (1.3%)
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Top Losers:
SUN PHARMA (2.8%), LUPIN (2.5%), TATA MOTORS (1.5%), M&M (1.4%), MARUTI SUZUKI (1.3%)
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Markets @ 10:20
Sensex 25,098, up 62 points, Nifty 7,628, up 16 points
Top Gainers:
HINDALCO (2.58%), GAIL (2.37%), VEDANTA LTD (1.88%), RIL (1.64%), NTPC (1.57%)
Top Losers:
LUPIN (2.95%), SUN PHARMA (2.12%), MARUTI SUZUKI (1.13%), M&M (1.01%), BHEL (0.92%)
Markets @ 9:20
The 30-share index was trading at 25,128, up 92 points or 0.37 per cent. It touched a high of 25,175.82 and a low of 25,119.28 in morning trade.
The Nifty50 was at 7,636 up 24 points or 0.32 per cent. It touched a high of 7,651.50 and a low of 7,633.80 in the first 30 minutes of trade.
The S&P BSE Midcap Index was up 0.24 per cent and BSE S&P Smallcap Index was trading 0.61 per cent higher.
Hindalco (up 1.5 per cent), RIL (up 1.2 per cent), HUL (up 1.04 per cent), and Tata Steel (up 0.86 per cent) were among the major Sensex gainers.
Lupin (down 1.4 per cent), ONGC (down 0.71 per cent), Tata Motors (down 0.34 per cent), Bharti Airtel (down 0.34 per cent), and HDFC Bank (down 0.2 per cent) were among the major Sensex losers.
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