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Sensex Zooms 850 Points, Nifty Nears 17,100; Eicher Motors & Hero MotoCorp Rally 5%
Tue, 15 Feb 12:30 pm

Sensex Zooms 850 Points, Nifty Nears 17,100; Eicher Motors & Hero MotoCorp Rally 5%

Share markets in India have extended early gains and are presently trading on a firm note.

Benchmark indices rebounded today after steep losses recorded in the previous session as crude oil prices edged lower after Russian foreign minister Sergei Lavrov said there was "always a chance" for agreement with the West on the Ukraine crisis.

Asian share markets are trading mixed with minimal losses. Crypto markets too seem to have stabilized after a sharp selloff in the last couple of days.

After opening half a percent higher, benchmark indices BSE Sensex and Nifty turned flat in early trade. Gains were then extended as index heavyweight stocks rose 2-3%.

Currently, the is trading up by 856 points, up 1.5%, at 57,250 levels.

Meanwhile, the rose above the crucial 17,000-mark and is presently trading up by 250 points.

Shares of Eicher Motors, Hero MotoCorp and HUL soared 3-5% while Nestle, L&T and Bharti Airtel gained in the range of 2-3%.

Broader markets are underperforming benchmarks but still trading in the positive. The BSE Midcap and BSE Smallcap index are trading 0.8% and 0.2% higher.

Among individual stocks, Cipla shares tanked after the company's promoters sold 2,01,69,756 shares (representing 2.5% of the total issued and paid-up share capital) today.

Post this transaction, the promoter group will continue to hold 34.23% in the company.

Meanwhile, shares of Rossari Biotech tanked 20% to hit a 52-week low after the company reported weak operational performance in December quarter.

In his latest video for Fast Profits Daily, Research Analyst at Equitymaster Brijesh Bhatia talks about why he is still bullish on metal stocks.

As per Brijesh, metal stocks are set for a new momentum phase and you should keep a close watch on them. Watch the below video to know why...

More details to follow in the upcoming commentary.

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


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