Sensex, Nifty gain 1% each, ONGC share price jumps 5%; check what’s fueling D-St today

coronavirus, covid 19, financial markets, sensex, nifty, stock exchange, share market

As bulls returned to Dalal Street, headline indices BSE Sensex and Nifty 50 were trading with gains on Tuesday taking cues from their global peers. The 30-share index Sensex was trading at 32,013.04, up 297.69 points or 0.94 per cent, while the broader Nifty 50 index was ruling 110.15 points or 1.19 per cent higher at 9,403.65. As many as 21 out of 30 Sensex stocks were trading in green with ONGC as top gainer, up 5.8 per cent. M&M, Bharti Airtel, Power Grid and RIL were among other gainers on the index. On the flip side, Bajaj Finance was top Sensex laggard, down 2.31 per cent. “With no major development on the local front, we feel the global cues would continue to dictate the market trend. However, any news on a stimulus package for the ailing sectors may provide a breather. Besides, the earnings announcement would continue to induce stock-specific volatility so participants should plan their trades accordingly,” Ajit Mishra, VP – Research, Religare Broking Ltd, said.

RIL top index contributor: Reliance Industries, HDFC Bank, Bharti Airtel, Infosys and TCS were top five index contributors in today’s trade. While Hero MotoCorp, UltraTech Cement, SBI (State Bank of India) were among Sensex laggards.

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Nifty Metal index gain: Barring Nifty PSU Bank index and Nifty Realty index, all the sectoral indices were trading in green. Nifty Metal index was top sectoral gainer led by JSW Steel, Coal India and Jindal Steel. While Nifty Realty index was down over 1 per cent, dragged by Indiabulls Real Estate, Sobha and The Phoenix Mills.

DIIs sell Rs 1,662 crore worth of stocks: Foreign portfolio investors (FPIs) sold shares worth Rs 1,374 crore, while domestic institutional investors DIIs were net sellers to the tune of Rs 1,662 crore on Monday, as data available on the NSE suggests.

Liquor stocks slip in trade: Liquor stocks fell in trade today as Delhi government hiked excise duty on liquor by 70%. United Spirits share price fell 1.65%, United Breweries down 1.91%, Pioneer Distilleries dip 0.32 per cent.

Global markets: Asian stock markets rose in Tuesday’s trade following a late Wall Street rally. Hong Kong’s Hang Seng index rose 0.84%. In Australia, the S&P/ASX 200 rose 1.62%. The MSCI Asia ex-Japan index traded 0.93% higher. US stocks rallied at the end of the session, as hard-hit New York became the latest state to announce a phased reopening of business activity, starting with select industries, according to Reuters. The Dow Jones Industrial Average rose 26.07 points, or 0.11%, to 23,749.76, the S&P 500 gained 12.03 points, or 0.42%, to 2,842.74 and the Nasdaq Composite added 105.77 points, or 1.23%, to 8,710.72.

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