The benchmark Nifty saw a significant upmove today and rallied over 100 points on the back of short covering, it had lost a bit of ground in the last few sessions. Positive global cues also helped the Sensex to close with over 300 points gains.
Asian markets closed strong on the back of buying in the late trade; Shanghai was up 2.36% and Hang Seng was up 2.2%. Straits Times and Taiwan Weighted gained 1.6% each. Kospi was up 1.2%, Jakarta was up 0.94% and Nikkei was up 0.32%. European markets were trading 0.4% higher and the US index futures were trading marginally higher, at the time of closing of Indian equities.
The markets recovered all of Tuesday’s losses. Buying was seen across all the sectors; metal, realty, FMCG, banking and capital goods were the major gaining sectors. Respective indices jumped 2-4%. However, Power Grid, Sun Pharma, HUL and Ranbaxy were the only losers on the NSE Nifty.
The 30-share BSE Sensex closed at 16,496.05, up 332.61 points or 2.06% and the 50-share NSE Nifty settled at 4,931.85, with rally of 101.75 points or 2.11% over its previous closing value.
India’s largest power company, NTPC closed at Rs 209.85, up 1.87% while the floor price for its FPO is at Rs 201 per share. The FPO was subscribed 0.6 times on first day and qualified institutional investors’s portion got fully subscribed. Sources said, LIC and SBI invested Rs 4,760 crore in NTPC FPO. The issue will close on February 5.
Today’s new listing— Infinite Computer Solutions India ended at at Rs 191.60, up Rs 26.60, or 16.12% over its issue price of Rs 165. It touched an intraday high of 205.8 on BSE.
INOX Leisure acquired entire promoter stake in Fame India for Rs 66 crore today. It bought this 43.28% stake at Rs 44 per share in an all cash consideration via block deal. Inox will make an open offer for additional 20% stake.
Post this acquisition, Inox became one of India’s largest multiplex networks. The share jumped 11.74% while Fame India rose nearly 5%.
The metal sector was the biggest gainer today as CRB Commodity Index jumped 1.9% and had gained nearly 3% in the last two sessions. Sterlite Industries shot up 6.3%. Tata Steel and SAIL gained 4.7% each. Hindalco was up 3.44% and Jindal Steel was up 1.7%.
DLF and Unitech rallied nearly 3%. In the auto space, Tata Motors, M&M and Hero Honda were up 1.7-3.4%. Maruti was up just 0.27%.
Banking was other major gaining sector; ICICI Bank, HDFC Bank, Axis Bank and PNB gained 2-3.25%. SBI rose just 1%. HDFC jumped 4%.
In the oil & gas space, ONGC went up 2.6% and Cairn India up 1.7%. Reliance Industries was up 0.66% and BPCL rose 2.5%. Crude was trading above USD 77.5 a barrel.
ITC from the FMCG sector rallied 3.36% while HUL closed flat.
Capital goods stocks like L&T and Siemens were up 3.85% and 2.6%, respectively. BHEL rose just 0.5% and ABB was up 0.3%.
Telecom stocks also ended in the green; Reliance Communications went up 1.3%. Bharti Airtel and Idea Cellular gained 0.5% each.
In the cement space, Grasim shot up 3%. ACC and Ambuja Cements advanced 0.88-1.3%. Jaiprakash Associates was up 1.5%.
Wipro from the technology space gained 2.8%. TCS and HCL Tech went up 2% each. Infosys was up 1.4%.
In the power space, Reliance Power, Tata Power, Reliance Infrastructure and Suzlon Energy were up 1-2%.
The broader indices moved up 1-1.5%, as about 1812 shares advanced while 1104 shares declined on the BSE. Nearly 223 shares remained unchanged.
Top percentage gainers – Pasupati Fincap, Lords Chemicals, Sika Interplant, Midpoint Soft and Shree Ashtavinayak shot up 20% each.
In the midcap space, Prakash Industries, Blue Dart, Core Projects, Rajesh Exports and BGR Energy rallied 6-11% while Spice Communication, CRISIL, HT Media, Andrew Yule and Simplex Infra fell 3-5.8%.
In the smallcap space, KPR Mill rose 19.47%. Money Matters and Dynamatic Tech were up over 9%. However, Hinduja Foundries lost 17.75% and Zandu Pharma declined 16.82%. Vipul, FAG Bearings and Maharashtra Polybutenes slipped 5-9%.
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