Titanic Tuesday: Sensex ends at life high of 36,139, Nifty peaks at close 11,083; metal, bank stocks shine

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Updated: January 23, 2018 3:40:33 PM

Indian stock markets close at record highs with the key equity indices Sensex and Nifty finishing at respective peaks. Sensex ended up 341.97 points or 0.96% at 36,139.98 and Nifty gained 117.5 or 1.07% to conclude at 11,083.7 while Nifty Bank surged 1.27% to close at 27,384.5.

Sensex made a top of 36,147.75 rising by 349.74 and Nifty soared 121.5 points to hit a fresh record high of 11,087.7 on Tuesday. (Image: PTI)

India’s stock market opened higher on Tuesday with the key equity indices Sensex and Nifty hitting their respective all-time highs led by the rally in the shares of heavyweight companies such as Reliance Industries, Infosys, and HDFC. The domestic markets started the day at record highs with Sensex and Nifty shying off from the round figure levels of 36,000 and 11,000 respectively. Within seconds of opening up of the market, Nifty extended the gains very quickly surpassing the 11,000-mark for the first time ever. Following this, in the wee minutes of morning trades, Sensex surged heavily to breach the psychological level of 36,000, and that too just after three sessions when the benchmark index crossed 35,000-mark. The domestic markets are on a continuous rising spree since about last 13 months with the benchmark indices Sensex and Nifty making and breaking newer highs day after day.

Going ahead in the holiday-shortened week ahead, Q3 earnings of Maruti Suzuki, as well as derivatives expiry will likely to steer the domestic equities. The blue-chip companies such as Maruti Suzuki India, Canara Bank, Idea Cellular, Coal India, and Dr Reddy’s Laboratories are scheduled to announce their Q3 results later this week.

Track the live updates here:

15:30 pm: Markets finish at record highs: Indian stock markets close at record highs with the key equity indices Sensex and Nifty finishing at respective peaks. Sensex ended up 341.97 points or 0.96% at 36,139.98 and Nifty gained 117.5 or 1.07% to conclude at 11,083.7 while Nifty Bank surged 1.27% to close at 27,384.5. During the day, the benchmark Sensex jumped 372.82 points to mark the all-time high of 36,170.83 whereas the 50-share barometer Nifty advanced 126.7 points to hit an intraday all-time high of 11,092.9.

15:16 pm: Record-breaking rally continues! Sensex jumps 359.73 points to hit 36,157.74 whereas Nifty gains 126.7 points to mark a fresh lifetime high of 11,092.9. Bank Nifty rises 380.85 points to hit a lifetime high of 27,422.05.

15:12 pm: Breaking! Sensex makes a new all-time high, rising as much as 351.33 points to 36,149.34.

15:10 pm: Shares of State Bank of India, ONGC, Tata Steel, Coal India, ICICI Bank, IndusInd Bank, Infosys were trading higher among the 31 shares of Sensex rising 2-4% in the late afternoon on Tuesday. Sensex was trading at 339.37 points or 0.95% 36,137.38 while Nifty was trading 114.95 points or 1.05% at 11,081.15.

14:57 pm: Shares of blue-chip companies such as State Bank of India, Jindal Steel, Reliance Industries, Axis Bank, Infosys and ICICI Bank emerged as the top turnover stocks on NSE with value traded in shares of India’s largest bank SBI nearing to Rs 1,000 crore.

This image shows top 10 stocks which topped turnover on National Stock Exchange on Tuesday. (Image: NSE)

14:40 pm: Indian equities hold the gains with Sensex trading up 310.98 at 36,108.99 and Nifty trading up 98.65 points at 11,064.85. Shares of metals, PSU banks rose the most such as SBI and Tata Steel.

14:30 pm: Shares of Havells India surged by more than 6% intra-day on Tuesday, after the electrical appliance maker reported strong Q3 results yesterday. Jefferies is bullish on the shares of the company and has retained a buy call on the shares with a target price of Rs 625. Read More | Havells India shines bright on strong Q3 results as shares hit 52-week high, Jefferies says buy

14:20 pm: Oil and Natural Gas Corp (ONGC) has received approval from the government for selling its stake in IOC and GAIL to help fund the Rs 36,915 crore acquisition of HPCL, PTI reported. ONGC holds 13.77 percent stake in nation’s biggest refiner Indian Oil Corp (IOC). Read More | ONGC gets government nod to sell stake in IOC, GAIL to fund HPCL acquisition

14:11 pm: Even as the date for Union Budget 2018 nears and amid talks that Finance Minister Arun Jaitley will look to tweak rules of capital gains tax, ace investor Porinju Veliyath says that there’s no rationale to believe that imposition of long-term capital gains will lead to a stock market correction. Also Read | Porinju Veliyath says LTCG tax on equities will not lead to stock market correction

14:03 pm: Markets at lunch: Indian stock markets continue the rally holding the gains with Sensex trading up 305.27 points or 0.85% at 36,103.28 and Nifty trading up 104.95 points or 0.96% at 11,071.15. Shares of ONGC, Tata Steel, Coal India, SBI, Infosys, ICICI Bank, IndusInd Bank, Dr Reddy’s lab, Reliance Industries, Axis Bank, ITC, M&M, Bharti Airtel gain 1-4%.

13:45 pm: Shares of Rallis India tanked 7.16% to hit the day’s low at Rs 252 on Tuesday after the agriculture solutions firm posted a marginal drop in consolidated net profit at Rs 24.94 crore for the quarter ended 31 December 2017. The net income jumped to Rs 393.86 crore during the October-December period of the current fiscal from Rs 352.19 crore in the year-ago quarter while expenses rose to Rs 365.84 crore from Rs 320.36 crore in the same quarter earlier last year, the company said in a BSE filing.

13:35 pm: About 14 blue-chip stocks hit their respective 52-week highs in Tuesday’s trades with heavyweight companies such as RIL, TCS, Axis Bank and Vedanta. The table below shows 14 blue-chip stocks which hit their respective 52-week highs today.

StockRise (%)52-Week High (Rs)
JSW Steel7.41299.30
Tech Mahindra3.72590.70
Indiabulls Housing Finance3.081397.00
HCL Technologies2.66992.05
Axis Bank2.62627.60
ICICI Bank2.53360.40
Reliance Industries2.00990.95
Godrej Consumer Properties0.671100.00

13:25 pm: Amid Prime Minister Narendra Modi’s visit to Davos to attend the 48th Annual General Meeting of the World Economic Forum in Switzerland, top industrialist Anand Mahindra lauded the prime minister saying that the economy is certainly recovering. Also Read | WEF 2018: Top industrialist Anand Mahindra lauds Modi; says economy is recovering.

13:13 pm: PSU bank stocks are also shining in today’s trade with benchmark Nifty PSU bank index surging 49.05 points 1.33% to 3,734.55 led by the upmove in the shares of heavyweight companies such as State Bank of India, Bank of Baroda and Punjab National Bank. Nifty Bank index was trading up 0.61% at 27,206.45 with shares of ICICI Bank emerging as the top gainer.

This image shows the top 12 gainers on the Nifty Bank index. (Image: NSE)

13:05 pm: Markets at afternoon trades: Sensex was trading 286.14 points or 0.8% at 36,084.15 while Nifty was trading up 100.3 points or 0.91% at 11,066.5. Up until now, Sensex made a top of 36,147.75 rising by 349.74 and Nifty soared 121.5 points to hit a fresh record high of 11,087.7.

13:00 pm: The Narendra Modi-led government got a big boost on the eve of Prime Minister’s address to a global audience at Davos, as the IMF said that India could grow at 7.4% in 2018, as against China’s 6.8%, making it the fastest growing country among emerging economies following last year’s slowdown due to demonetisation and the implementation of the GST. Also Read | Boost to Modi at Davos as IMF projects India’s growth at 7.4% in FY19: 3 key takeaways

12:55 pm: Almost all the broader and sectoral indices of National Stock Exchange are trading higher on Tuesday with Nifty Metal, Nifty PSU Bank, Nifty IT, and Nifty Midcap 50 leading the charge.

This image shows all the broader and sectoral indices of National Stock Exchange. (Image: NSE)

12:45 pm: If history is anything to go by, benchmark indices have plunged eight out of ten times just ahead of the budget month. But, this time, the scenario is very different. Sharing his views ahead of Budget 2018, Inderjeet Bhatia of Macquarie Securities says that Finance Minister Arun Jaitley would have to balance between pushing productive investments like infrastructure and pushing more on either the rural employment guarantee programme or programmes like rural and urban housing projects. Also Read | 3 key expectations of equity markets from Union Budget 2018 

12:43 pm: Domestic markets continue to roll with Sensex and Nifty firing to newer all-time highs minute after minute. Heavyweight shares of companies such as Infosys, ICICI Bank, Reliance Industries, ITC, SBI, Tata Steel, Axis Bank, HDFC, Maruti Suzuki, IndusInd Bank, and Coal India emerged as the top contributors to Sensex. Collectively these 12 stocks added about 315.24 points to the Sensex out of the 341-point gain in the index.

This image shows the point-wise contribution of top 12 stocks which are fuelling the Sensex rally. (Image: BSE)

12:38 pm: Global brokerages Deutsche bank and CLSA reiterated their bullishness on the shares of Axis Bank after the private lender reported strong Q3 results. Deutsche Bank observed that slippages and credit costs may remain elevated for a few quarters. Also Read | Deutsche Bank, CLSA bullish on Axis Bank shares on strong Q3 results

12:33 pm: Dalal Street roars! Indian stock markets continue the rising streak on Tuesday following a sustained rally in the blue-chip shares such as Tata Steel, Coal India, Infosys, SBI, Vedanta, Hindalco, Cipla, GAIL, IOC, ICICI Bank, NTPC, Dr Reddy’s, Reliance Industries, IndusInd Bank, and Axis Bank. Sensex was trading up 343.59 points or 0.96% at 36,141.60 while Nifty was trading at 11,077.75 up by 111.55 points or 1.02%.

12:20 pm: Breaking! Sensex gained 309.06 points to hit an all-new peak of 36,107.07 while Nifty 50 index surged 107 points to the fresh lifetime high of 11,073.2.

12:15 pm: Shares of Tata Steel, Coal India, Infosys, ICICI Bank, NTPC, SBI, Reliance Industries, IndusInd Bank, Axis Bank, Dr Reddy’s, ONGC, M&M were the top gainers in the mid-morning session whereas Asian Paints, Wipro, HDFC Bank. TCS, Tata Motors, and L&T were the top losers. While heavyweight shares RIL and Infosys continued to be the top 2 contributors to the Sensex, adding more than 100 points alone. at the time of writing, Sensex was just 10 points short of hitting 36,100  and Nifty topped 11,065.15.

This image shows the 30 stocks of Sensex. (Image: BSE)

12:00 pm: Markets at noon: Indian stock markets were trading higher holding the morning gains with Sensex rocketing up 274.62 points to the new all-time high of 36,072.63 whereas Nifty surged as much as 94.25 points to hit a fresh peak of 11,060.45.

11:55 am: Shares of blue-chip companies such as Jindal Steel, Reliance Industries, Axis Bank, Infosys, State Bank of India emerged topped the turnover on NSE with Jundal Steel rising as much as 10.82% to Rs 292.3.

This image shows the shares on National Stock Exchange which recorded heavy turnover in terms of value traded, up until 11:55 am. (Image: NSE)

11:40 am: Metal stocks are on a fire on Tuesday with the benchmark Nifty Metal index rising as much as 182.45 points or 4.55% to 4,188.6 with shares of Jindal Steel, JSW Steel, SAIL, Hindalco, NMDC, Vedanta, Tata Steel, National Aluminium Company, Hindustan Zinc, Hindustan Copper, Coal India zooming 1-12%.

11:25 am: Shares of the market cap leader Reliance Industries extended gains on Tuesday after surging heavily in yesterday’s trades. The stock of RIL advanced as much as 1.93% to hit an all-time high of Rs 990 on BSE while the stock jumped 2% to the all-time high of Rs 990.95 on NSE.

11:18 am: Shares of Hindalco, Vedanta, JSW Steel, SAIL, NMDC, Havells, Tata Steel, Indian Oil Corporation, Cipla, Infosys, Aurobindo Pharma emerged as the top blue-chip gainers among the headlines indices rising up to 7%.

11:05 am: The Indian rupee also jumped 10 paise against the US dollar in the early trades on Tuesday following the record-breaking run in the Indian stock markets. The rupee gained 10 paise at 63.77 apiece US dollar at the interbank foreign exchange market on Tuesday. Also Read | Rupee jumps 10 paise against US dollar as Sensex, Nifty make new all-time highs

10:50 am: Indian markets continue to trade higher in the late morning session with Sensex trading up 239.3 or 0.67% at  36,037.31 and Nifty trading up 82.6 points or 0.75% at 11,048.8. Among the ‘A’ group of shares of BSE, shares of Jindal Steel, SAIL, RCom, Den Networks, JSW Steel rose 5-10% while Rallis India, Religare, Godrej Properties lost up to 5.5%.

10:32 am: All the sectoral indices swung into profits with Nifty Metal Nifty IT, Nifty Pharma, Nifty PSU Bank index rising up to 4%. Shares of ICICI Bank, TCS, L&T, Axis Bank, Tech Mahindra, Reliance Industries, HCL Tech, and Cipla hit fresh 52-week highs respectively.

10:15 am: Heavyweight stocks of companies such as Infosys, Reliance Industries, HDFC, ICICI Bank, State Bank of India, ITC, Tata Steel Axis Bank are contributing heavily in the Sensex upmove. Collectively these 8 stocks alone added about 182 points to the index out of the 245-point rally in the index.

This image shows 8 scrips which emerged as the top contributors in fuelling up the Sensex rally. (Image: BSE)

9:57 am: All the broader market indices were trading in green led by Nifty Mid100 Free, Nifty 50 while India Vix rose 3.42%. Among the sectoral indices, 10 out of 11 of them are trading up with Nifty Metal, Nifty PSU Bank, Nifty IT leading the charge whereas Nifty Media shed 0.2%.

This image shows the broader market indices such as Nifty 50, Nifty Next 50, and Nifty 500 etc along with the sectoral indices such as Nifty Bank, Nifty Metal, Nifty IT. (Image: NSE)

9:43 am: Among the Nifty index, shares of Hindalco, Vedanta, Cipla, Tata Steel, Indian Oil Corporation, Aurobindo Pharma were the top gainers while Ambuja Cements, Zee Entertainment Enterprises, Wipro, Asian Paints and Bosch were the top laggards.

9:30 am: The heavyweight shares of companies such as Infosys, Reliance Industries, ICICI Bank, HDFC, Tata Steel contributed the most in the Sensex and Nifty rally. Collectively these 5 shares alone added about 140 points to the index out of the 190-point gain in the index. At the time of writing, Sensex was trading up 190.77 points or 0.53% at 35,988.78.

9:15 am: BSE Sensex gained 70.18 points or 0.2% to open at 35,868.19 and NSE Nifty 31.2 points 0.28% to begin at 10,997.4. Within minutes of opening, the 30-share barometer Sensex jumped 226.06 points to hit an all-time high of 36,024.07 while the wider share indicator Nifty 50 surged as much as 64.4 points to hit a lifetime peak of 11,030.6 on Tuesday.

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