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Opening Bell : Equity benchmarks continued to rally in morning trade with the Sensex surging 350 points, driven by banks, infra, metals and pharma stocks. Short covering and global cues drove the market higher. The 30-share BSE Sensex was up 349.62 points or 1.28 percent at 27602.15 and the 50-share NSE Nifty gained 116.50 points or 1.38 percent at 8548.50 while the broader markets outperformed. The BSE Midcap and Smallcap indices rallied 2 percent each on strong breadth. About 8 shares advanced for every share declining on the exchange. Nifty Realty index surged 4.5 percent after losing more than 10 percent on black money crackdown. PSU Bank index gained further, up 5 percent while Metal surged 5.5 percent.
Many of the veteran analysts believe that the bull run in global and Indian markets remains intact, but expects domestic stocks to underperform global peers by a bit. Consider an example that if you get 10-12 percent returns for global equities this year, then traders will be up 8 percent. Analysts are bullish on domestic smallcap stocks. However, the Sensex has returned 12-12.5 percent ever since 2014.
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The S&P #BSE #Sensex is trading at 31,064 up 223 points, while #NSE #Nifty is trading at 9561up 70 points. A total of 20 stocks registered a fresh 52-week high in trade today, while 22 stocks touched a new 52-week low on the NSE. The BSE #MidCap Index is trading up 0.85% at 14,626, while BSE #SmallCap Index is trading up 1.26% at 15,352. Sectoral indices in BSE are trading in positive sentiments on Thursday’s intraday trade, wherein Metal, Capital goods and Bankex are the major gainers on Thursday’s trade. Axis Bank, ACC & Tata Steel are among the #Gainers whereas Sun Pharmaceuticals Industries, NTPC & Wipro are losing on the NSE.
Benchmark indices remained higher amid volatility in morning, with the Nifty inching towards 8450 level on consistent buying in banks, technology and FMCG stocks. The 30-share BSE Sensex was up 69.09 points at 27357.26 and the 50-share NSE Nifty gained 22 points at 8434.80 while the broader markets outperformed. The BSE Midcap and Smallcap indices gained more than 0.6 percent on positive breadth. More than two shares advanced for every share falling on the exchange. ITC, Asian Paints, TCS, ICICI Bank, Axis Bank, Infosys, HUL and SBI were leading contributors to Sensex's gains, up 0.4-1.5 percent. However, Reliance Industries shares fell 2 percent after December quarter earnings.
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#Equity benchmarks continued to trade marginally higher in morning trade but the broader markets outperformed. The 30-share #BSE #Sensex was up 36.37 points at 31,112.10 and the 50-share #NSE #Nifty rose 22.55 points to 9,600.60 while the BSE #Midcap and #Smallcap indices gained over half a percent on positive market breadth. About two shares advanced for every share falling on the BSE. ITC, Tata Motors, ICICI Bank, M&M and Axis Bank were top contributors to Sensex' gains while Reliance Industries, Infosys, Wipro and TCS were under pressure.