Sensex Opens 500 Points Higher; IndusInd Bank & HDFC Bank Top Gainers

Mon, 15 Feb 09:30 am

   Pre-Open   

   Momentum Moves   

   SGX Nifty   

   12:30 pm   

   Closing   

Asian stock markets advanced to record highs as successful coronavirus vaccine rollouts globally raised hopes of a rapid economic recovery amid new fiscal aid from Washington.

Japan's Nikkei climbed 1.3%, despite data showing the country's recovery from its worst post-war recession slowed in the fourth quarter.

In US stock markets, Wall Street indices ended marginally higher on Friday to set another round of record closes.

The Dow Jones Industrial Average added 28 points, up 0.1%, while the Nasdaq Composite gained 0.5%.

Back home, Indian share markets have opened on a strong note, following the trend on SGX Nifty.

Market participants will react to the macro-data announced post market hours on Friday. The Index of Industrial Production grew by 1% in December on a YoY basis while the consumer price index (CPI)-based inflation rate fell for the third consecutive month to 4.06% in January.

The BSE Sensex is trading up by 513 points. Meanwhile, the NSE Nifty is trading higher by 134 points.

IndusInd Bank is among the top gainers today. ONGC, on the other hand, is among the top losers today.

Both, the BSE Mid Cap index and the BSE Small Cap index have opened up by 0.6%.

Barring oil & gas stocks, all sectoral indices are trading in green with stocks in the banking sector and finance sector witnessing most of the buying interest.

Shares of Deepak Nitrite and Motherson Sumi hit their 52-week highs today.

The rupee is trading at 72.52 against the US$.

Gold prices are trading up by 0.2% at Rs 47,402 per 10 grams.

Speaking of the current stock market scenario, note that we've seen a stellar rally post budget and then a rangebound week with a slight bullish bias.

Nifty firmly held 15,000 but the bulls seem to be tiring now. The breadth of large-cap stocks is not convincing enough to hold market at higher levels.

In the latest Momentum Moves video, Brijesh Bhatia elaborates on these points and what you should expect this week.

As per Brijesh, the Nifty might reverse if the Nasdaq 100 reverses from the reversal level of the harmonic pattern which is placed at 13,750-13,967.

Nasdaq and Nifty reversing will be double whammy for the IT index which has formed a bearish candlestick pattern.

Tune in to the video below to find out more:

In news from the automobile sector, MG Motor, the Indian subsidiary of China's largest carmaker SAIC Motor Corp, hopes to garner a 30% share of India's nascent electric-car market, which it expects to nearly double to 10,000 units this year.

The carmaker is also in talks with various potential partners to manufacture the EV battery in India, with an eye on launching an additional EV sports utility vehicle at a lower price point using the localised battery.

The company claims its updated ZS EV will deliver a minimum range of 300km under any condition, although the given range is 419 km in ideal settings.

Before the onset of the Covid-19 pandemic, MG Motor had received over 2,500 booking for its ZS EV, but because of the outbreak and subsequent lockdowns, it faced cancellations from the travel and hospitality space.

The company has also tied up with Tata Power to install DC chargers across 60 cities and has already executed charging stations in 20 cities.

The company managed to sell about 1,300 cars from February to December last year and expects to sell more than 3,000 cars this year.

So far, MG has invested close to Rs 30 billion, and it will invest an additional Rs 15 billion this year which will go into capacity building at Halol (Gujarat) and investment on vendors, including for battery localization.

We will keep you updated on the latest developments from this space. Stay tuned.

Speaking of electric vehicles, note that the power ministry has approved setting up 2,636 electric vehicle charging stations across 62 cities in 24 states.

Here's what co-head of Research at Equitymaster, Tanushree Banerjee wrote about electric vehicles in one of her editions of Profit Hunter:

• 106 public and private entities have approached the government for permissions to set up about 7,000 EV charging stations.
  
  This clearly shows the vehicle manufacturers have enough incentive to capture this latent demand.
  
  The tax benefit in terms of a lower GST rate (at 5%) is a further shot in the arm of the EV industry.

As per Tanushree, electric vehicles are very much on their way to invading Indian roads. The threat of disruption in this era is something you cannot ignore.

Tanushree believes one of the companies manufacturing lithium ion batteries for powering electric cars will be a key catalyst for the Rebirth of India.

In news from the insurance sector, the Finance Ministry will infuse Rs 30 billion capital into state-owned general insurance companies during the current quarter in a bid to improve their financial health.

Last year, the Union Cabinet headed by Prime Minister Narendra Modi cleared proposal to provide capital support to National Insurance, Oriental Insurance and United India Insurance.

The cabinet had also decided to increase the authorised share capital of National Insurance Company (NICL) to Rs 75 billion and that of United India Insurance Company (UIICL) and Oriental Insurance Company (OICL) to Rs 50 billion each to give effect to the capital infusion decision.

Finance Minister Nirmala Sitharaman in the Budget announced privatization of two public sector banks and one general insurance company in 2021-22 beginning April.

In 2017, state-owned companies New India Assurance Company and GIC of India went public.

How the above developments pan out remains to be seen.

Moving on to stock specific news...

Indian Railway Finance Corporation Ltd (IRFC) is among the top buzzing stocks today.

IRFC has reported a growth of 15.4% at Rs 10.5 billion for the quarter ended December 2020. During the same period of the last fiscal, the company had reported a net profit of Rs 9.1 billion.

Its total revenue from operations rose 8% to Rs 39.3 billion during the quarter under review.

The total revenue from operations from the first nine months of the current fiscal grew by 10.8% on a year-on-year (YoY) basis at Rs 113.2 billion.

The board of directors of the company also declared an interim dividend of Rs 13.8 billion translating to Rs 1.05 per share for the financial year 2020-21.

IRFC share price has opened the day up by 2.6%.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers