The BSE Sensex rose for the fifth consecutive session on Tuesday and ended 147.33 points up to close at 26,932.88. Nifty gained 33.60 points to settle at 8,152.90.
The BSE Sensex rose for the fifth consecutive session on Tuesday and ended 147.33 points up at 26,932.88 following sustained foreign fund inflows amid prospects of a delay in the US Fed rate hike. Nifty gained 33.60 points to settle at 8,152.90.
In the 50-share index, Tata Motors(5.74%), ITC (3.81%), Cipla (3.81%), Coal India(3.71%), GAIL(3.65%) were among the gainers. BHEL (3.16%), Infosys(2.09%), UltraTech Cement Limited(1.70%), ACC(1.58%) and NTPC(1.57%) were among the losers.
Among the sectoral indices on the Bombay Stock Exchange, the BSE consumer durables index gained the most — 4.30 per cent, followed by BSE Fast Moving Consumer Goods (up 2.41 per cent), BSE Metal index (up 2.14 per cent) and BSE Oiland Gas index (up 1.92 per cent).
After resuming higher, the BSE Sensex quickly recaptured the 27,000-mark and touched a high of 27,010.27, but on profit-booking it slipped into negative zone briefly. However, the index bounced back to settle at 26,932.88 — a gain of 147.33 points or 0.55 per cent.
Tata Motors remained the top gainer for the second day in the Sensex pack with a surge of 5.81 per cent to Rs 333.50 on sales data for September and reports that Jaguar Land Rover’s US unit sales soared.
Other prominent gainers were ITC, Coal India, Cipla, GAIL, ONGC, HUL, Dr Reddy’s, Vedanta, Sun Pharma, Tata Steel, RIL, Hero MotoCorp, Hindalco, ICICI Bank, Bharti Airtel and L&T.
Among 30-Sensex components, 19 stocks gained. While, BHEL, Infosys, Maruti Suzuki, NTPC and Axis Bank ended lower.
“After opening with a positive note, the markets slipped to the negative territory on the back of profit booking. But consistent buying in the counters helped the markets to rebound. Today the Nikkei/Markit services purchasing managers’ index came out which fell to 51.3 in September from the previous month’s 51.8 level. The data remained above 50 which shows expansion whereas the below level shows a contraction, Alex Mathews, head – research,” Geojit BNP Paribas Financial Services Ltd said.
In line with broad trend, small-cap index rose 0.69 per cent and mid-cap was up 0.31 per cent.
“Investors are turning cautious on IT stocks before the Q2FY16 results. Metal & Mining stocks are positive due to pick-up in global commodity prices, expecting green-shoots in world economy. Overall the market is stabilizing on a positive trend,” Vinod Nair, head-fundamental research, Geojit BNP Paribas Financial Services Ltd said.
Markets throughout the day
3.19 pm: Sensex was up 134.33 points at 26,919.88. Nifty was up 27.55 points at 8,146.85
2.50 pm: BSE Sensex up 201.88 points at 26,987.43. Nifty up 46.40 points at 8,165.70. BSE Fast Moving Consumer Goods up 2.33 per cent and BSE Metal index up 2.29 per cent. HUL shares were up 2.33 per cent at Rs 829.00.
2.15 pm: Tata Motors shares were up 5.36 per cent at Rs 332.10 on continued optimism over the prospects of unit Jaguar Land Rover on China’s auto stimulus and rival Ferrari’s likely listing. Infosys shares were down 2.33 per cent at Rs 1,151.00 on caution ahead of its July-September results on Oct 12.
1.50 pm: Gujarat NRE Coke Ltd up 19.69 per cent at Rs 2.31 after the company said its board has approved the sale of its wind mill business for a consideration of Rs 218.75 crore. Sensex was up 101.06 points at 26,886.61. Nifty was up 15.00 points at 8,134.30. BSE Consumer Durable Index was up 4.15 per cent.
12.58 pm: Sensex up 56.45 points at 26,842.00. Nifty was up 5.70 points at 8,125.00. Government hopes to roll out a new goods and services tax (GST) in 2016, Prime Minister Narendra Modi said on Tuesday in a speech to Indian and German businesses. European shares paused on Tuesday following strong gains in the previous session, with mixed corporate updates also providing little clear direction for the market. The pan-European FTSEurofirst 300 index was down 0.1 percent at 1,412.00 points by 0709 GMT, having risen 3 percent in the previous session, its biggest one day rise since August.
12.32 pm: Suzlon Energy was up 3 per cent at Rs 22.35 after the Suzlon group said it has won a repeat turnkey order for 100.8 mega watt (MW) from Orange Renewable which will be installed at a wind park in Andhra Pradesh. Sensex was up 24.93 points at 26,810.48. Nifty was down 4.15 points at 8,115.15. BSE Oil and Gas Index up 1.50 per cent.
11.38 am: Sensex, Nifty turn flat. Sensex up 35.29 points at 26,820.84. Nifty was down 0.90 points at 8,118.40. BSE Consumer durables and metal index up 2.53 per cent and 1.18 per cent respectively. The MNI India Consumer Sentiment Indicator fell 3.2% to 115.3 in September from 119.1 in August, the lowest level since the survey began in November 2012. Growth in India’s private sector output “faded” in September as both manufacturing and service sectors witnessed sluggish rise amid softer demand conditions across the country, a Nikkei survey said.
11.12 am: Sensex was up 84.43 points at 26,869.98. Nifty was up 16.30 points at 8,135.60. Shares of Wockhardt were trading 2.89 per cent up at Rs 1585.65 after the company said that UK’s health regulator Medicines and Healthcare Products Regulatory Agency (MHRA) has found “no critical observations” at its L-1 Chikalthana drug manufacturing plant.
10.49 am: Indian Overseas Bank shares were trading 1.87 per cent down at Rs 36.65 after RBI “prompt corrective action” on state-run bank with the view to improve internal processes to deal with mounting non-performing assets. Sensex was up 72.79 points at 26,858.34. Nifty was up 18.60 points at 8,137.90.
10.31 am: Sensex up 85.09 points at 26,870.64. Nifty was up 14.35 points at 8,133.65. Sun Pharma stocks were up 1.84 per cent at Rs 914.70 after the company on Monday said that Ranbaxy Pharmaceuticals Inc, a wholly-owned subsidiary, along with its partners, Cipher Pharmaceuticals Incand Galephar Pharmaceutical Research have entered into a Settlement Agreement with Actavis Group that dismisses the patent litigation suit relating to Actavis’ Abbreviated New Drug Application (ANDA) for a generic version of Absorica.
10.07 am: Sensex pares early gains, up 41.82 points at 26,827.37. Nifty was up 3.60 points at 8,122.90. Jefferies initiates on Ambuja Cements and UltraTech Cement with “buy” ratings. The stocks of Ambuja Cements were down 1.12 per cent at Rs 207.90. Ultratech Cements shares were down 1.40 per cent at Rs 2778.00.
9.46 am: The Indian rupee strengthened by four paise to 65.25 against the dollar in early trade on sustained selling of the US currency by exporters and banks amid firm equity markets. Sensex was up 116.04 points at 26,901.59. Nifty was up 28.50 points at 8,147.80 during the same time.
9.29 am: Sensex was up 116.19 points at 26,901.74. Nifty was up 20.25 points at 8,139.55. Coal India shares were trading 0.64 per cent up at Rs 331.60 and NTPC gained 1.33 per cent at Rs 129.10 after Credit Suisse upgraded their shares to “outperform” from “neutral” on power distributors’ restructuring.
9.22 am: Sensex up 95.54 points at 26,881.09. Nifty up 30.85 points at 8,150.15. S&P BSE Healthcare was up 0.95 per cent and BSE Realty was up 0.56 per cent. Tata Motors was trading 2.24 per cent up at Rs 322.25
The Sensex regained the 27,000 mark by climbing about 225 points in early trade on Tuesday following continued buying by participants amid a firming trend in global markets.
Dr Reddy, Tata Motors, Sun Pharma, GAIL, Lupin, Coal India, Tata Steel, Hind Unilever, NTPC, SBI, ICICI Bank and ONGC were among major gainers.
Asian stocks on Tuesday got a boost from the prospect of a delay in the US Federal Reserve’s plan to raise interest rates and signs of some stability in oil and commodity markets.
US stocks jumped on Monday, with the S&P 500 rising for the fifth day in a row, as rising oil prices boosted energy stocks and investors bet the Federal Reserve would not raise interest rates this year. Japan’s Nikkei share average rose to a 2-1/2-week high on Tuesday as expectations that the U.S. Federal Reserve will wait longer to raise interest buoyed investors’ risk appetites.
Britain’s top share index rose nearly 3 per cent on Monday, with a surge in Glencore after a volatile week leading mining companies higher.