Sensex today: SBI best performer, Bandhan Bank jumps 25%; index gains 108 points
The benchmark indices edged higher on Tuesday as a surprise cut in the government’s borrowing programme for the next fiscal year boosted sentiment, with lenders such as the State Bank of India among top gainers. Positive sentiment in Asian markets after reports of talks between the United States and China to renegotiate tariffs and trade imbalances eased trade war concerns, also contributed to the gains. The Sensex settled the day at 33,174, up 107.98 points, while the broader Nifty50 ended at 10,184, up 53.50 points.
In the broader market, the BSE Midcap and the BSE Smallcap indices outperformed to rally 1 per cent and 1.36 per cent, respectively. Market breadth, indicating the overall health of the market, turned positive. On the BSE, 1,830 shares gained, 825 shares declined, while 152 shares remained unchanged.
An equity rally that began late on Wall Street, where shares had their best day in 2-1/2 years, spilled over to Asia and then Europe, where the Stoxx 600 index was on track for its best day in seven weeks.
Among Asian markets, Japan's Nikkei climbed 1.1 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan firmed 0.4 per cent. South Korea's KOSPI rose 0.7 per cent, adding to gains made after the US exempted the country's steel from import tariffs.
The Dow jumped 2.84 per cent, while the S&P 500 climbed 2.72 per cent and the Nasdaq 3.26 per cent. All 11 major sectors of the S&P 500 gained, with technology up 4.0 per cent and finance 3.2 per cent.
On Monday, after a negative opening, the benchmark indices staged a smart pullback to settle higher. The Sensex ended at 33,066, up 469.87 points, while the broader Nifty50 closed at 10,130, up 132.60 points.
The benchmark indices edged higher on Tuesday as a surprise cut in the government’s borrowing programme for the next fiscal year boosted sentiment, with lenders such as the State Bank of India among top gainers. Positive sentiment in Asian markets after reports of talks between the United States and China to renegotiate tariffs and trade imbalances eased trade war concerns, also contributed to the gains. The Sensex settled the day at 33,174, up 107.98 points, while the broader Nifty50 ended at 10,184, up 53.50 points.
In the broader market, the BSE Midcap and the BSE Smallcap indices outperformed to rally 1 per cent and 1.36 per cent, respectively. Market breadth, indicating the overall health of the market, turned positive. On the BSE, 1,830 shares gained, 825 shares declined, while 152 shares remained unchanged.
An equity rally that began late on Wall Street, where shares had their best day in 2-1/2 years, spilled over to Asia and then Europe, where the Stoxx 600 index was on track for its best day in seven weeks.
Among Asian markets, Japan's Nikkei climbed 1.1 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan firmed 0.4 per cent. South Korea's KOSPI rose 0.7 per cent, adding to gains made after the US exempted the country's steel from import tariffs.
The Dow jumped 2.84 per cent, while the S&P 500 climbed 2.72 per cent and the Nasdaq 3.26 per cent. All 11 major sectors of the S&P 500 gained, with technology up 4.0 per cent and finance 3.2 per cent.
On Monday, after a negative opening, the benchmark indices staged a smart pullback to settle higher. The Sensex ended at 33,066, up 469.87 points, while the broader Nifty50 closed at 10,130, up 132.60 points.
Latest Updates
Bandhan Bank at close
Bandhan Bank settles at Rs 477.20, up 27.25 per cent on the BSE against its issue price. On the NSE, the stock ended at Rs 470, up 25.33 per cent.
Sensex heatmap at close
Source: BSE
Markets at Close
The Sensex settled the day at 33,174, up 107.98 points, while the broader Nifty50 ended at 10,184, up 53.50 points.
Kotak Securities on 1HFY19 borrowing
Bundle of joy for now! The 1HFY19 gross borrowing at Rs 2.88 tn, along with realignment of issuances at extreme lower and higher end of the curve, will cheer the bond market in the near-term. Lighter supply may push the 10-yr yield to 7.20-7.50 per cent range in 1HFY19. However, we will watch for evolving risks in 2HFY19 in the form of heavier supply, precarious fiscal and inflation situation, and consequent reaction of the RBI. Our base case is for RBI to be on a pause in FY2019.
Market Breadth
Market breadth, indicating the overall health of the market turned positive. On the BSE, 1,132 shares rallied, 227 shares declined, while 32 shares remained unchanged.
Broader Markets
Broader markets outperform with the BSE Midcap and the BSE Smallcap indices rallying nearly 1 per cent each.
Markets at open
At 9:20 am, the Sensex was trading at 33,237, up 170.66 points, while the broader Nifty50 was ruling at 10,183, up 53.05
Pre-open trade
The Sensex was trading at 33,172, up 106.57 points, while the broader Nifty50 was ruling at 10,188, up 57.35 points.
Stocks in News
- Dilip Buildcon : Wins INR9.36b order from NHAI
- Dolphin Offshore : Says its group wins INR1.54b ONGC order
- KNR Constructions: Received 2-hybrid annuity projects for total bid project cost Rs 29.6 billion
- Punj Lloyd: Wins Rs 5.05 billion order from NHAI for Odisha project
- Wockhardt’s arm Wockhardt Bio AG gets USFDA nod for Oxacillin sodium injectable
- KEC: has won contracts worth Rs 2,419 crore.
FAST MONEY: SBI, Adani Enterprises among 8 intraday trading tips
STATE BANK OF INDIA (SBI)
Target: Rs 252
Stoploss: Rs 245
CMP: Rs 247
- Pullback possible in banking stocks on short-covering
- OI slipped 28 per cent
Rupee at open
Rupee opens at 64.78 versus dollar against Monday’s close of 64.87 per dollar
Wall Street roars back as trade war fears fade
Wall Street scored its best day in 2-1/2 years and the Dow Jones Industrial Average saw its third-biggest point gain ever on Monday, as trade war fears eased on reports the United States and China are willing to renegotiate tariffs and trade imbalances.
The Dow Jones Industrial Average rose 669.4 points, or 2.84 percent, to 24,202.6. The two larger point gains for the Dow were in October 2008. The S&P 500 gained 70.29 points, or 2.72 percent, to 2,658.55 and the Nasdaq Composite added 227.88 points, or 3.26 percent, to 7,220.54. 7,220.54
Asian markets cheered by trade hopes
Asian markets were trading positive. Taking their cue from a surge on Wall Street, Japan’s Nikkei climbed 1.7 percent and China blue chips added 1.2 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan rose almost 1 percent. South Korea’s KOSPI climbed 0.7 percent, adding to gains made after the U.S. exempted the country’s steel from import tariffs.
Markets on Monday
The benchmark indices logged a smart recovery on Monday with the Sensex rallying over 500 points in intraday trade, while Nifty reclaimed its crucial 10,100 mark. The pullback came after US stock futures led global shares higher following reports that the United States and China have quietly started negotiations to improve US access to Chinese markets. The news eased fears of a trade war between the two economic giants. The Sensex settled at 33,066, up 469.87 points, while the broader Nifty50 ended at 10,130, up 132.60 points.
In the broader market, the BSE Midcap and the BSE Smallcap indices rallied up to 1 per cent. Market breadth, however, remained negative. There were 1,563 declines against 1,187 advances on the BSE. 177 stocks remained unchanged.
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