Sensex adds 613 pts; Nifty ends above 15,100; MidCap index hits record peak


MARKET LIVE: Indices hold gains; Sensex zooms 600 pts; Nifty Auto up 3%


Stock market updates: Enthused by less than three lakh daily Covid-19 cases for the second straight day, domestic indices advanced over 1 per cent on Tuesday. Automobile and consumer discretionary stocks caught investors’ fancy as they hoped that restrictions/curbs would ease once cases decline further. 

Supporting the sentiment were flows around vaccination front that more and more pharma companies are tying up for vaccine manufacturing. Visibility on economic recovery has largely continued even during the lockdown and now, with restrictions likely to ease, consumer demand is expected to make a come-back, believe analysts.


Given this, the benchmark S&P BSE soared 613 points, or 1.24 per cent, to end the day at 50,193 levels with only four stocks — Bharti Airtel, ITC, Dr Reddy’s Labs, and State Bank of India — settling the day in the red.

On the NSE, the index reclaimed the 15,000-mark for the first time since March 12 on a closing basis, and shut shop at 15,108 levels, up 185 points or 1.24 per cent.


M&M (up 6 per cent), Bajaj Auto, Titan, Bajaj Finance, Adani Ports, Tata Motors, and Indian Oil Corporation were the top Nifty gainers today while Airtel, ITC, Coal India, Divis Labs, UPL, and Grasim were the top laggards.


In the broader market space, the S&P BSE MidCap index zoomed 1.9 per cent to settle at 21,232 after hitting record peak of 21,255 levels earlier today. Investors are heading more for mid-cap stocks as growing risk appetite and cheaper valuations of these companies as compared to large-cap peers have revived their popularity.

Individually, Jubilant FoodWorks, Indian Hotels Company and Page Industries from the consumer discretionary space; Ashok Leyland, TVS Motor Company and Bharat Forge from automobiles; AU Small Finance Bank, Muthoot Finance, Shriram Transport Finance Company and Federal Bank from financials; and Adani Transmission, Adani Power and Adani Green Energy from Adani Group were up between 3 per cent and 6 per cent on the BSE. READ MORE


The SmallCap index, meanwhile, ended 1.3 per cent higher at 22,848.


Sectorally, the Nifty Auto index climbed 3.3 per cent on the NSE, followed by the Nifty Energy index (up 2 per cent), and the Nifty Metal index (up 1.7 per cent). On the contrary, the Nifty PSU Bank index and the Nifty FMCG index slipped 1.3 per cent and 0.25 per cent, respectively.


Global markets


European stocks advanced on Tuesday with the pan-European Stoxx 600 up 0.4 per cent. US stock index futures also picked up in early premarket trade; Dow futures added 92 points, while contracts tied to the S&P 500 and Nasdaq 100 also advanced modestly.


Shares in the Asia-Pacific region also jumped in Tuesday’s trade led by Japan’s Nikkei, up 2 per cent; South Korea’s Kospi gained 1.3 per cent; and China’s CSI300 index adding 0.5 per cent.



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