All segments of the market saw buying, especially led by realty names that rallied on the back of Q2 sales updates. Auto stocks along with the IT sector also buzzed throughout the day.
The 30-share pack Sensex rose 488.10 points or 0.82 per cent to close at 59,677.83. The index still ended nearly 240 points lower than the day’s high. Its broader peer NSE Nifty advanced 144.35 points or 0.82 per cent to 17,790.35.
“Despite the global semiconductor shortage, auto stocks sparked a rally in hopes of demand revival during the festive season while the expectation of better Q2 numbers for IT and strong pre-sale numbers helped the realty sector,” said Vinod Nair, Head Of Research at Geojit Financial Services.
Market at a glance:
- Tata Motors spikes 13 per cent after Morgan Stanley upgrades stock
- Titan climbs 11 per cent after update shows biz recovers to pre-Covid level
- ONGC eases over 4 per cent after crude oil prices soften
- Paras Defence hits 5 per cent upper circuit for another day
- India VIX, a barometer of volatility and fear, eases 7 per cent
Among the bluechip names, Tata Motors was the top gainer, rising 12.63 per cent. Titan, M&M, Maruti Suzuki, Eicher Motors, IndusInd Bank, Sun Pharma, Asian Paints and Tech Mahindra were other gainers.
ONGC was the top loser in the Nifty pack, falling 4.46 per cent. Dr Reddy’s Labs, Coal India, Divi’s Labs, Britannia Industries, HDFC, Nestle India, Bajaj Finserv and HUL were others that ended in the red.
Broader market indices ended higher, outperforming their headline peers. Nifty Smallcap rose 1.22 per cent and Nifty Midcap advanced 1.88 per cent. Nifty 500, the broadest index on NSE, ended up 1.03 per cent.
VIP Industries, Wockhardt, MCX, Page Industries, Oberoi Realty and Godrej Properties were top gainers from mid and smallcap indices, climbing in the range of 8-10 per cent.
Trident, Sequent Scientific, CESC, Oil India, Fortis Healthcare and Emami were major losers from broader market space, falling in the range of 1-5 per cent.
Market breadth was in favour of gainers as 2,220 stocks ended in the green, while 1,079 names settled with cuts. As many as 346 securities hit 52-week highs, mostly from the smallcap space. Meanwhile, 15 names hit 52-week lows, mostly from the microcap space. About 460 stocks hit upper circuit limits and 145 lower circuit limits.
European markets were trading higher. London-based FTSE was up 1.04 per cent while Paris and Frankfurt climbed 1.39 per cent and 1.28 per cent, respectively. In Asia, Indonesia ended in the red. Rest ended in the green. China was closed for a holiday.
