MARKETS: Sensex up 500pts, Nifty at 18,500; Tata Power up 14%, metals shine

Markets at 11 AM:

LIVE market updates: The markets continue to trade on a firm note in late morning deals on the back of strong buying support in metal and IT shares. The Sensex was up 491 points at 61,797, and the NSE Nifty had gained 169 points at 18,508.

Hindalo soared 6.5 per cent to Rs 516. Tata Motors, JSW Steel, Titan, Tata Steel, ONGC and Infosys were the other major gainers in the Nifty 50. On the other hand, HCL Technologies slipped 2 per cent to Rs 1,226. Asian Paints, Dr.Reddy’s and Bajaj Auto were the other notable losers.

Shares of metal companies were in focus in Monday’s session as the Nifty Metal index rose 4 per cent to hit a record high of 6,246.65 in intra-day trade on rising base metal prices amid higher demand expectations. READ MORE

The NSE Midcap 150 index has surged 1.5 per cent to 12,280. Tata Power is the major gainer, up 14 per cent at Rs 254. Hindustan Zinc, National Alumnimum and Hindustan Copper have rallied 9-12 per cent each. NHPC, HAL, Solar Industries, Union Bank of India, Dhani, Indian Bank and IRCTC are the other prominent gainers. On the flip side, Persistent and APL Apollo Tubes, down over a per cent each are the notable losers.

The NSE Smallcap 250 index has gained 1.2 per cent at 10,054. Cera Sanitaryware and Indiabulls Realestate up around 11 per cent each were the major gainers. Network 18, Mahindra CIE Automotive, Grindwell Norton, KEI Indusries, Indoco Remedies and Century Ply are the other significant gainers, up 6-10 per cent each. Whereas, PNB Housing down 5 per cent is the major loser, followed by MCX India, Poly Medicure, Shilpa Medicare and JB Chem Pharma.

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Markets at 10 AM:

LIVE market updates: The markets continued to scale fresh record highs on the back of positive sentiment. The BSE Sensex has registered a new life-time high at 61,894 in intra-day trades so far, and was up 400 points at 61,707.

The Nifty 50 index so far registered a new summit at 18,521, and was up 130 points at 18,469.

The broader markets have also logged smart gains. The NSE Nifty Midcap 100 index has surged 1.4 per cent, and the Smallcap 100 index has added 0.8 per cent. India VIX too has jumped nearly 9 per cent to 17.15.

Among sectors, the Nifty Metal index has soared 3.6 per cent, and the PSU Bank index has rallied 1.5 per cent. The Nifty Consumer Durables, Oil & Gas and IT indices have advanced over a per cent each.

Shares of Avenue Supermarts, which owns and operates retail chain D-Mart, hit a new high of Rs 5,899.90 as they rallied 11 per cent on the BSE in Monday’s intra-day trade following its quarterly results. The company on Saturday reported a two-fold increase in its consolidated net profit at Rs 417.76 crore for the second quarter ended September 2021 (Q2FY22). The company had posted a net profit of Rs 198.53 crore in Q2FY21. READ MORE

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(Updated at 09:25 AM)

LIVE market updates: The benchmark indices yet again opened with a positive gap on the back of prevailing upbeat market sentiment and cues from the select overseas markets.

The BSE Sensex opened with a positive gap of 500-odd points at 61,817, and was then quoted at 61,710, up 405 points. The NSE Nifty topped the 18,500-level in opening deals, and touched a new record high at 18,513. The Nifty 50 index was then up 108 points at 18,447.

Among the Sensex 30 stocks, HDFC Bank has rallied 2 per cent to Rs 1,720. The private bank Q2FY22 net profit rose by 17.6 per cent to Rs 8,834.31 crore as against Rs 7,513.11 crore in the year ago period. Total income was up 7.4 per cent at Rs 38,754.16 crore from Rs 36,069.42 crore in the same period.

Tata Steel, Infosys, PowerGrid Corporation, Nestle India, IndusInd Bank and Bharti Airtel are the other prominent gainers.

HCL Technologies has slipped a per cent to Rs 1,239 after a subdued Q2FY22 performance. The IT firm maintained FY22 forecast, while reporting 3.9 per cent YoY growth in Q2 net at Rs 3,265 crore, and 11.1 per cent YoY growth in revenue at Rs 20,655 crore for the quarter ended September 2021.

Asian Paints and Dr.Reddy’s are the other notable losers.

For the week ahead, “Domestic market awaits the release of quarterly earnings to determine the market trend. Banking will be the key sector under focus in the coming days as the sector is set to kickstart its earnings season. With the expectation of a strong recovery in corporate earnings, the Indian market is positioned to continue its bull run. However, any deviation from market expectation may lead to short-term correction in the respective segments”, says Vinod Nair, Head of Research at Geojit Financial Services.

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(Updated at 09:03 AM)

Pre-open Session:

LIVE market updates: The BSE Sensex was quoted 818 points higher at 62,124 in pre-open trades on Monday, and thereafter was up 408 points at 61,714. The NSE Nifty 50 soared 332 points at 18,671 in early pre-open deals, and thereafter was up 196 points at 18,535.

ONGC soared 8 per cent, while ITC jumped 5 per cent in the pre-open deals. PowerGrid Corporation, Titan, Tata Steel and TCS were the other notable gainers. On the flip side, HCL Technologies was down 4 per cent.

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(Updated at 08:10 AM)

LIVE market update: Stock-specific action will take the centre stage on the bourses on Monday as trading resumes after an extended weekend. At 8:00 AM, SGX Nifty was at 18,427 levels.

Earnings today

Craftsman Automation, LTI, Route Mobile, and Tata Coffee are among the 21 companies scheduled to report their September quarter results today.

Global cues

Most Asian stocks and US futures slid as China’s gross domestic product grew slower-than-expected. Japan’s Topix and South Korea’s Kospi index fell 0.3 per cent each while Hang Seng Index climbed 0.6 per cent. S&P futures were down 0.1 per cent.