Foreign institutional investors have continued to buy Indian stocks in heaps keeping indices at record high levels. However, some caution has seeped into domestic investors.
The 30-share pack Sensex added 222.13 points or 0.43 per cent to close at 51,531.52. Its broader peer NSE Nifty advanced 66.80 points or 0.44 per cent to settle at 15,173.30.
“The domestic market closed with slight gains after its range-bound rally, tracking gains in index heavyweights and positive European & Asian markets. The upward movement in the market was supported by energy, telecom and FMCG stocks with small caps outperforming. Dip in January auto retail sales numbers pushed the sectoral index into the negative territory while PSU banks also remained under pressure,” said Vinod Nair, Head of Research at Geojit Financial Services.
Market at a glance
- MRF tanks 7% after co announces Q3 nos, dividend
- Magma Fincorp jumps 10% after Adar Poonawala buys stake
- Titan Company drops over 2% after Q3 earnings
- RIL emerges top bluechip gainer, adding 4%
- Coal India closes down 1% after Q3 results
Among the bluechip scrips, Hindalco was the top gainer, rising 5.51 per cent. Reliance Industries,Sun Pharma, Adani Ports, GAIL, Power Grid, Bajaj Finance, UPL and BPCL were other gainers.
Eicher Motors was the top loser in the Nifty pack for a second straight day, falling 2.56 per cent. Titan, L&T, Tata Motors, Coal India, HDFC Life Insurance, JSW Steel and Cipla were others that ended in the red.
Broader market indices ended with gains outperforming their headline peers. Nifty Smallcap added 1.81 per cent and Nifty Midcap added 0.18 per cent. Nifty 500 — the broadest index on NSE — gained 0.50 per cent.
Edelweiss Financial Services, Vodafone Idea, Hudco, BASF, IDFC and Amber Technologies were top gainers from mid- and small-cap indices, climbing in the range of 6-9 per cent.
Graphite India, IOL Chemicals, HEG Infra, MRF, Fortis Healthcare and Apollo Tyres were major losers from the broader market space, falling in the range of 3-8 per cent.
The sectoral matrix on the NSE was mixed. Nifty Metal was the top gainer, up 1.02 per cent, followed by Nifty FMCG and Nifty IT. Nifty PSU Bank was the top loser, down 1.25 per cent, Nifty Auto and Nifty Realty were others that ended in the red.
“We reiterate our bullish view on the markets, however, traders should maintain extra caution in the selection of stocks now. A decisive break above 15,250 would trigger a further upmove, else consolidation will continue.”
Market breadth was in favour of gainers as 1,725 stocks ended in the green, while 1,261 counters settled with cuts. As many as 267 securities hit 52-week highs, mostly from the smallcap space. Meanwhile, 33 scrips hit 52-week lows, mostly from the microcap space. About 340 stocks hit upper circuit limits and 211 lower circuit limits.
European markets were trading on a mixed note at the last count. London-based FTSE was up 0.04 per cent while Paris dipped 0.23 per cent and Frankfurt added 0.37 per cent. In Asia, most major markets were closed due to holidays.
