Mapping the market: Biggies call the shots, smallcaps underperform in choppy session

NEW DELHI: A rally in some of the index heavyweights such as Reliance Industries and Infosys and supportive cues from European markets ahead of the minutes of US Fed’s January 26-27 policy meet gave the BSE Sensex a 190-point lift on Wednesday.

The number of stocks that advanced on BSE outnumbered those which declined in a 2:1 ratio, as BSE-listed companies managed to add Rs 51,000 odd crore to their combined market capitalisation.

For a detailed account of every small or big move in the market through the day, click here

Technical charts showed the possibility of further improvement in the market in the days to come, but one must not expect volatility to subside anytime soon, experts warned.

Here’s a look at the key stocks and sectors that hogged limelight on a day that saw the benchmark indices swing between gains and losses amid choppy trading.

RIL, Sun Pharma anchor rebound in Sensex: Major index heavyweights joined their hands to take the Sensex higher on Wednesday. Reliance Industries, which had ended higher in just two sessions so far this month, jumped 2.45 per cent on Wednesday to settle at Rs 952.45. The stock contributed 43 points to the rise in the Sensex. Sun Pharma, ITC and Infosys added 90 points to the index gains. Sun Pharma ended the day at Rs 854.55, up 3.29 per cent. ITC and Infosys rose 1.42 per cent and 1.34 per cent, respectively. A total of 23 index stocks ended the day higher.


Smallcap index underperforms, but Just Dial soars: While market breadth was positive on Wednesday, stocks in the BSE smallcap index failed to catch up with their largecap counterparts. The smallcap index edged 0.21 per cent higher against a 0.82 per cent rise in the Sensex.

As many as 326 smallcap stocks ended higher for the day while 414 stocks closed lower. But Just Dial surged 18.60 per cent to Rs 525.95 after announcing a share buyback proposal. CPCL and TV Today rallied 13.60 per cent and 12.85 per cent, respectively.

Live chart


PSU stocks up on higher capital infusion hopes: PSU stocks recouped losses and ended higher amid reports that the government was preparing to pump in a higher-than-anticipated $34 billion capital infusion into state-run banks. Shares of BoB (up 6.99 per cent), Andhra Bank (up 3.68 per cent), SBI (up 2.08 per cent) and IDBI Bank (up1.81 per cent) remained top performers among the PSBs.
Live chart

Logistic players slip despite govt’s GST push: Stocks of most logistic companies ended lower on Wednesday despite reports that Prime Minister Narendra Modi has reached out to the Opposition to try and get his government's stalled legislative business moving in Parliament, especially the key goods & services tax (GST) bill. A total of 11 of 14 logistic stocks ended lower on Wednesday. Gateway Distriparks fell 6.57 per cent, followed by VRL Logistics, Corporate Courier and Cargo and NECCL, which fell 4.68 per cent, 4 per cent and 3.48 per cent, respectively. Allcargo and Blue Dart Express inched lower. The logistics sector is expected to be a key beneficiary if the GST bill gets implemented.
Live chart

Rise in Baltic dry index fails to lift shipping stocks: Seven of nine shipping stocks ended lower even as the Baltic dry index jumped 2 per cent to reclaim the 300 mark. Essar Shipping fell 2.85 per cent. Global Offshore, GE Shipping and Dredging Corp declined 1.55 per cent, 1.36 per cent and 0.29 per cent, respectively. The Baltic Dry index, which measures changes in transport cost of raw material such as metals, grains and fossil fuels by sea is down 37 per cent this year.
Live chart

Dr Reddy's jumps on share buyback announcement: Shares of Dr Reddy's Laboratories climbed 3.52 per cent to settle at Rs 2,961.05. In late trading, the drugmaker informed stock exchanges that board has approved Rs 1569 crore buyback plan at a price not exceeding Rs 3,500 per share. The stock was second-biggest contributor to the 1.56 per cent rise in the BSE Healthcare index.

Live chart