The BSE Sensex and NSE Nifty extended their gains for the second straight day on Tuesday on account of firm global cues. Market sentiments also remained upbeat following exit polls at the end of polling in Assam, showed BJP winning the elections for the first time. The BSE Sensex closed 120.38 points up at 25,773.61, while Nifty 50 index closed 30 points up at 7,890.75.
In the 50-share index, ONGC, Axis Bank, UltraTech Cement, HDFC and BPCL gained between 2.39 per cent and 3.81. On the other hand, Eicher Motors, NTPC, Aurobindo Pharma, Adani Ports and Kotak Mahindra Bank slid between 1.40 per cent and 2.39 per cent.
Barring the BSE Power index (down 0.38 per cent), BSE Telecom index (down 0.30 per cent), BSE FMCG index (down 0.16 per cent) and BSE Metal index (down 0.01 per cent), rest all other sectoral indices on BSE ended the day in green. The BSE Oil & Gas index and BSE Realty index jumped 1.18 per cent and 0.79 per cent, respectively.
During the day, the BSE Sensex touched a high and low of 25,927.31 and 25,733.76, respectively. The index was at 25,653.23 on Monday.
Jayant Manglik, president, retail distribution, Religare Securities said, “Sentiments were upbeat in the first half, tracking firm global cues and appreciation in rupee against the US dollar in early trade. However, profit taking was witnessed in last hour, which significantly trimmed the intraday gains.”
Piramal Enterprises surged 5 per cent, buoyed by the company reporting a 89 per cent jump in net profit in March quarter.
In a scrip specific development, Sun TV shares gained over 10.57 per cent on Tuesday after various exit polls showed that DMK is set to regain power in Tamil Nadu Assembly Elections. The share price of the company closed at Rs 434.80.
Asian markets ended mostly higher on Tuesday, extending their gains for the second day in a row, tailing the jump in US markets overnight after crude spiked to six months high.
Markets through the day
3.30 pm: The BSE Sensex closed 120.38 points up at 25,773.61, while Nifty 50 index closed 30 points up at 7,890.75.
3.00 pm: Tata Coffee shares were trading over 3 per cent down after the company posted a 12.55 per cent fall in consolidated net profit in fourth quarter of 2015-16 fiscal. Sensex was trading 135 points up at 25,788. Nifty was up 46.55 points at 7,907.
2.39 pm: European shares hit a two-week high on Tuesday, with companies such as Taylor Wimpey and Vodafone gaining after their encouraging updates and miners tracking a rally in major industrial metals. Sensex was trading 153.10 points up at 25,806.33. Nifty trading 38.95 points at 7,899.70.
2.17 pm: Sensex was trading 258 points up at 25,924. Nifty was up 77.15 points at 7,937. A firm trend in other Asian markets aiding domestic markets. Asian shares recovered from two-month lows after a rebound in technology giant Apple Corp and oil price gains boosted Wall Street.
2.13 pm: Bharat Heavy Electricals was trading 0.78 per cent up at Rs 122.50. The company has bagged an order worth Rs 1,600 crore for setting up a coal-based thermal power project in Odisha. The 1×250 MW coal-based thermal unit will be set up at Rourkela Power Project on Engineering, Procurement & Construction (EPC) basis. The order for the Stage-III of the brownfield power project, located in Rourkela district of Odisha, has been placed on BHEL by NTPC-SAIL Power Company (NSPCL), a Joint Venture of NTPC & SAIL.
1.40 pm: Piramal Enterprises shares surged as much as 9 per cent on Tuesday after the company on Monday reported robust 89 per cent rise in its consolidated net profit figures at Rs 180.24 crore for the quarter ended March 2016. The company had posted Rs 95.40 crore in the same quarter last year.
12.58 pm: Motherson Sumi shares surged further post Q4 results. The scrip was trading 7.33 per cent up at Rs 287.70.
12.39 pm: The 30-share index was trading 224 points up at 25,877. Stocks such as ONGC, HDFC and Axis Bank were trading over 3 per cent higher against their previous close.
12.08 pm: Sensex was trading 215 points up at 25,868. Nifty was up 60.15 points at 7,920. Shares of BPCL, HPCL and IOC rallied as much as 2.90 per cent, 2.53 per cent and 1.59 per cent, respectively, after they hiked petrol and diesel prices last night.
11.37 am: Motherson Sumi shares were trading 2.65 per cent up at Rs 275.15 after the company reported 21.65 per cent rise in its consolidated net profit figures at Rs 413.72 crore for the quarter ended March 2016 against Rs 340.10 crore in the same quarter last year. Sensex was trading 164.19 points up at 25,817.42, while NSE Nifty was trading 48.05 points up at 7,908.80.
11.17 am: Sensex was up 115 points at 25,767. Nifty was trading 37.30 points up at 7,898.05.
10.55 am: Sun TV shares gained over 10 per cent in the early trade after various exit polls showed that DMK is set to regain power in Tamil Nadu Assembly Elections. Sensex was up 152 points at 25,805.
10.34 am: Sobha Limited share price were trading 1.40 per cent up at Rs 307.50 after after the company announced that it will consider buyback of shares this week. Sensex was trading 145.04 points up at 25,798.27, while NSE Nifty was trading 44.80 points up at 7,905.55.
9.52 am: SRF is reportedly planning to spend Rs 3,500 crore over the next four years, 70 per cent of which would go into its fast-growing chemicals business, to cater to rising global demand. The company will use internal resources to fund the planned investment as the company generates about Rs 1,000 crore of free cash flows every year. Shares of SRF were trading 0.64 per cent up at Rs 1,269.30.
9.47 am: Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organisation, and Siemens, a leading global technology powerhouse, are leveraging their longstanding partnership to expand and enhance the delivery of big data analytics to the global manufacturing industry. Shares of TCS were trading 0.33 per cent up at Rs 2,562.30. Sensex was up 147 points at 25,800.22.
9.45 am: The rupee appreciated by 13 paise to 66.67 against the dollar in early trade on Tuesday at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks.
9.24 am: Sensex was trading 164.84 points up at 25,818. Nifty was up 41.50 points at 7,902.
9.22 am: Oil marketing companies were trading higher after they hiked petrol and diesel price last night. BPCL, HPCL and IOC were trading up by 1.34 per cent, 1.02 per cent and 0.94 per cent, respectively.
9.17 am: The NSE Nifty 50 index was up 46.35 points at 7907.10. In the 50-share index, YES Bank, Bharti Infratel and Bharti Airtel were up 0.69 per cent, 0.67 per cent and 0.50 per cent, respectively.
9.15 am: The BSE Sensex opened 102.91 points, or 0.40 per cent, up at 25,756.14. NSE Nifty 50 index jumped 36.10 points, or 0.46 per cent, to 7896.85 in the opening trade.
8.49 am: The BSE Sensex and NSE Nifty are likely to open higher on Tuesday tracking SGX Nifty and firm global cues.
At 8.22 am (IST), SGX Nifty was up 28.50 points, or 0.36 per cent, at 7,915.
Asian shares recovered from two-month lows on Tuesday after a rebound in technology giant Apple Corp and oil price gains boosted Wall Street. Shares in Apple, which had lost about one-fifth of their value in the past month on worries about the company’s slowing sales growth, finished 3.7 percent higher after Warren Buffett’s Berkshire Hathaway reported taking a stake of about $1 billion in the iPhone maker.
On Wall Street, the Dow Jones Industrial Average closed 175.39 points, or 1 per cent, up at 17,710.71. The S&P 500 gained 20.05 points, or 0.98 per cent, to 2,066.66.
Market benchmark BSE Sensex rebounded by 164 points on Monday to close at 25,653.23 as investors ignored a spurt in wholesale inflation as well as forecast of a monsoon delay and rather went for value-buying in FMCG and IT stocks.
Shares of oil marketing companies (OMCs) and Tata Coffee will remain in focus on Tuesday. OMCs hiked petrol prices by 83 paise per litre and diesel by Rs 1.26 per litre.
Tata Coffee on Monday posted 12.55 per cent fall in consolidated net profit to Rs 34.47 crore in fourth quarter of the 2015-16 fiscal due to higher expenses.
(With agency inputs)