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Post Session: Sensex ends 186 pts up; Nifty reclaims 10,910

Share Source By

Dion Global

01 Jan 2019

After erasing all its losses, the domestic equity market ended with decent gains on the first trading day of 2019. It’s a strong start to the New Year for equities as bulls took complete charge in the last hour of trade. The session had a tepid start as indices opened around the flat terrain, but weakness soon gripped the market. Lack of adequate global cues along with less volumes ensured that somber trade continued. According to the bi-annual financial stability report (FSR) for December, published by the Reserve Bank of India (RBI) on Monday, the bad assets problem of the banking sector in the country is receding for the first time since 2015.

Among individual stocks, the shares of public sector undertaking (PSU) banks were trading higher for the third straight day on hopes of receding bad loans problem. Bank of Baroda (up 3% at Rs 123), Bank of India (2% at Rs 106), Oriental Bank of Commerce (2% Rs 97.35), Punjab National Bank (2% at Rs 79.65) and Union Bank of India (2% at Rs 87.70) have hit their respective three-month highs today. UCO Bank, Dena Bank, Bank of Maharashtra, Indian Bank and Corporation Bank were up in the range of 2 per cent to 11 per cent. The share price of JMC Projects rose 4 percent after the company bagged orders worth Rs 596 crore. Atul Auto surged 20 percent as company reported healthy sales numbers for the month ended December 2018. Centrum Capital shares gained 5 percent after the company completed acquisition of supply chain finance business from L&T Finance. Kolte-Patil Developers shares surged 9 percent after rating agency CRISIL revised long term outlook on company's bank loan facilities. CMI shares climbed 3 percent after it secured a contract for supply of cadmium catenary wire.

The 30-benchmark indices closed at 36254.57 up by 186.24 points or by 0.52 per cent and then NSE Nifty was at 10910.1 up by 47.55 points or by 0.44 per cent. The BSE Sensex touched intraday high of 36284.04 and intraday low of 35888.62 The NSE Nifty touched intraday high of 10923.6 and intraday low of 10807.1.

Among the top gainers of the BSE Sensex were Bharti Airtel Ltd. (Rs. 321.55,+2.76%), Housing Development Finance Corporation Ltd. (Rs. 2009.60,+2.01%), YES Bank Ltd. (Rs. 184.25,+1.38%), HDFC Bank Ltd. (Rs. 2150.00,+1.30%), State Bank of India (Rs. 299.35,+1.25%).

The top losers of the BSE Sensex were Mahindra & Mahindra Ltd. (Rs. 773.60,-3.75%), Tata Steel Ltd. (Rs. 515.55,-1.21%), Oil And Natural Gas Corporation Ltd. (Rs. 148.95,-0.83%), Hindustan Unilever Ltd. (Rs. 1803.10,-0.82%), IndusInd Bank Ltd. (Rs. 1594.35,-0.29%).

On sectoral front, BSE Realty index was at 1837.49 up by 39.66 points or by 2.21%. Prestige Estates Projects Ltd. (Rs. 236.40,+7.77%), Mahindra Lifespace Developers Ltd. (Rs. 406.00,+3.58%), Phoenix Mills Ltd. (Rs. 578.00,+2.72%), Oberoi Realty Ltd. (Rs. 455.00,+2.18%), DLF Ltd. (Rs. 180.55,+1.72%). Also BSE Bankex index was at 30615.47 up by 238.79 points or by 0.79%. Bank of Baroda (Rs. 123.30,+3.74%), YES Bank Ltd. (Rs. 184.25,+1.38%), HDFC Bank Ltd. (Rs. 2150.00,+1.30%), State Bank of India (Rs. 299.35,+1.25%), Axis Bank Ltd. (Rs. 627.50,+1.24%), followed the same trend.

On the flip side, BSE Metal index was at 11752.01 down by -87.58 points or by -0.74%. NMDC Ltd. (Rs. 95.30,-1.75%), Hindalco Industries Ltd. (Rs. 222.80,-1.46%), Steel Authority of India (SAIL) Ltd. (Rs. 55.65,-1.42%), Jindal Steel & Power Ltd. (Rs. 162.60,-1.31%), Tata Steel Ltd. (Rs. 515.55,-1.21%). Along with BSE Auto index was at 20726.33 down by -107.4 points or by -0.52%. Mahindra & Mahindra Ltd. (Rs. 773.60,-3.75%), TVS Motor Company Ltd. (Rs. 565.20,-1.05%), Motherson Sumi Systems Ltd. (Rs. 165.60,-0.69%), Apollo Tyres Ltd. (Rs. 234.45,-0.61%), MRF Ltd. (Rs. 66785.80,-0.45%).

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2858 , shares advanced were 1543 while 1150 shares declined and 165 were unchanged.