Top gainers in the sensex pack included L&T, Bajaj Finance, SBI, IndusInd Bank, Reliance, HDFC Bank and Bharti Airtel. (Representative image)
NEW DELHI: Equity indices jumped on Tuesday with the benchmark BSE sensex rising over 550 points led by gains in banking and metal stocks.
The 30-share BSE index rose 558 points or 1.15 per cent higher to close at 48,944; while the broader NSE Nifty settled 168 points or 1.16 per cent higher at 14,653.
Top gainers in the sensex pack included L&T, Bajaj Finance, SBI, IndusInd Bank, Reliance, HDFC Bank and Bharti Airtel with their shares rising as much as 3.53 per cent.
While Maruti, NTPC, Nestle India and Kotak Bank were the major losers falling up to 1.28 per cent.
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Investors would on Monday kick off the week reacting to a couple of major quarterly earnings and the government measures announced over the weekend to deal with the Covid crisis. Record Covid cases in India, extension of the lockdown in Delhi and a depreciating rupee could hurt foreign portfolio flows and may ensure any upside in the market gets sold off.
Here s breaking down the pre-market action:
STATE OF THE MARKETS
Nifty futures on the Singapore Exchange traded 31.50 points, or 0.22 per cent, higher at 14,371.50 in signs that Dalal Street was headed for a positive start on Monday.
Tech View: Nifty charts showing weakness
09:56 AM
ICICI Bank s results are very good on all parameters. This is good news for Bank Nifty. Even though HCL Tech s Q4 numbers are below expectations, their deal wins are impressive and indicative of the strong outlook for the sector. The sustained selling by FIIs in April, so far, is negative but FII selling is now more than compensated by DII buying. The market s resilience during this health crisis is positive and has to be taken seriously.
- VK Vijayakumar, Geojit Financial Services
09:22 AM
Axis, ICICI Bank jump 3% each; HCL Tech drops 3%
07:36 AM
Q4 results today
HDFC Life, SBI Card, Tech Mahindra, Castrol India, Delta Corp, Alok Industries, Tata Teleservices (Maharashtra) and Snowman Logistics are some of the companies which will announce their March quarter results today.
Nearest support is at 14,480
Nifty 50 April Futures (14,485) The Sensex and Nifty 50 started the week on a positive note, with a gap-up open despite mixed cues from the Asian markets. The Nikkei 225 has gained 0.36 per cent to 29,126 while the Hang Seng index has fallen 0.4 per cent to 28,962 levels in today s session. Both the Sensex and the Nifty 50 continues to trade in the positive territory and have gained 1.25 per cent and 1.2 per cent respectively. The market breadth of the Nifty 50 is biased towards advances.
The India VIX has climbed 3 per cent to 23.3 levels indicating increase in volatility. The Nifty mid and small-cap indices have advanced 0.9 per cent and 1.2 per cent correspondingly. Apart from the Nifty Pharma sectoral index, which has fallen 0.6 per cent, all the other sectoral indices are featuring in the positive territory. The top gainers are Nifty realty and metal that has advanced 2.6 per cent and 2.45 per cent respectively.
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A 3 lakh-plus Covid case count for a second day, concerns over the economic impact of lockdowns, weakness in the rupee and an overnight drop in US stocks are likely to hit sentiment on Dalal Street on Friday. Most Asian markets traded higher in early trade, and technical charts for the domestic indices are hinting at a recovery ahead.
Here s breaking down the pre-market action:
STATE OF THE MARKETS
Nifty futures on the Singapore Exchange traded 82 points, or 0.57 per cent, lower at 14,320 in signs that Dalal Street was headed for a negative start on Friday.
Tech View: Nifty forms Piercing Line pattern