Mapping the market: Banks fuel big rally; logistics up ahead of GST meet

It proved to be a Super Tuesday for domestic equities and we know you were surprised. If you are still wondering what lifted the market mood, here are the top factors that played out on Dalal Street, swelling investor kitty by over Rs 1,60,000 crore.

Banking on bank stocks: For the second day running, banking stocks propelled the market. Experts said the Rosneft-Essar deal is seen as a big positive for banks, whose profits and lending capabilities have come under pressure due to ballooning non-performing assets. ICICI Bank was the second-biggest gainer on both the benchmark indices, rising 4.58 per cent to Rs 270. Besides, Yes Bank jumped 3.23 per cent to Rs 1,291, Bank of Baroda 3.15 per cent to Rs 155 and PNB 2.93 per cent to Rs 140.




Logistics stocks in demand: Shares of logistics companies rose ahead of the GST Council meeting on Tuesday. Lower tax rate and fast movement of goods and inventories will help the logistics providers, analysts said. Among logistics stocks, Gati zoomed 4.84 per cent to Rs 136, Allcargo Logistics jumped 2.79 per cent to Rs 178, VRL Logistics rose 1.57 per cent to Rs 317 and Transport Corp of India gained 0.78 per cent to Rs 180.



Spurt in open interest: Stock futures of IndianOil saw the biggest spurt in open interest at 120.11 per cent. While stocks of Havells, CEAT, Mindtree and Arvind saw their respective open interests rise by 59.37 per cent. The IOC stock fell by 0.20 per cent to Rs 320 after the stock began trading ex-bonus on Tuesday in the 1:1 ratio. Havells rose by 1.78 per cent to Rs 431 ahead of its Q2 earnings numbers.



Volume shockers: TD Power Systems was the most active stock on NSE in terms of volume as its stock rose 8.72 per cent to Rs 207. It was followed by Sundaram Clayton, whose stock zoomed by 6.73 per cent to Rs 2,977.




Stocks at 52-week highs: As many as 10 stocks from the S&P BSE200 index hit the 52-week high thanks to the 500-point rally in the Sensex. Stock of Arvind hit its one-year high at Rs 368. Besides, BPCL, DHFL, Jubilant, L&T Financial Holdings, LIC Housing Finance, ONGC, Page Industries, Tata Steel and TVS Motors also hit their 52-week highs.




India VIX down: India VIX continued its downward trend for a second straight day - falling by a whopping 7.14 per cent to 14.5375 - on easing global growth worries and decent quarterly numbers from domestic companies so far. The index suggests a likely rise in volatility in the market over the next 30 days.