Sensex up by 600 points; M&M becomes top Sensex gainer, private banks outperform

Market Update at 3:00 PM: Sensex lost some of its gains built in the afternoon session as profit booking can be witnessed in the last hour of the trading session.  

Out of 30 Sensex stocks, almost six have slipped in red with M&M topping the chart of Sensex gainers' list, inching higher by nearly 6 per cent.  

Bajaj Auto & Bajaj Finance are up by more than 4 per cent each, which are helping push Sensex higher.  

BSE Mid-cap index is outperforming Sensex and is up by 1.6 per cent while BSE Small-cap index is up by more than 1 one per cent, which is performing in line with Sensex.  

BSE Consumer Durables, BSE Capital Goods, and BSE Auto are the sectoral indices shining in today's trading session, each trading with gains of more than 2 per cent.  

Titan, Voltas, and TTK Prestige are the stocks that are helping push the Consumer Durables index higher.  

Market Update at 12:30 PM: BSE Sensex builds on its gains of the morning session while almost all Sensex constituents are trading in green except for Bharti Airtel and ITC.  

Bajaj Auto has become the top Sensex gainer, followed by Titan, Power Grid and Bajaj Finance. 

BSE Mid-cap index gained nearly 2 per cent. MRPL is the top mid-cap gainer, up by more than 7 per cent, followed by Concor and Adani Transmission, which jumped over 5 per cent each.  

Besides, BSE Small-cap index gained 1.3 per cent. Cheviot Company locks in the upper circuit after inching higher by 20 per cent. Meanwhile, Indraprastha Medical and Patel Engineering also gained more than 11 per cent each thereby, helping the small-cap index gain weight in Tuesday's trade.  

BSE Auto is one of the top-performing sectoral index with Ashok Leyland gaining more than 5 per cent while Bajaj Auto is up by more than 3 per cent, followed by Tata Motors, which is up by more than 2 per cent on Tuesday.   

Except for BSE Telecom index, all the sectoral indices are trading in green.   

Market Update at 10:15 AM: After a magical Monday where Sensex gained more than 800 points, markets are up by more than 450 points on Tuesday.  

The rally can be attributed to the slowing COVID cases in the past few days along with conducive global market performance.  

Power Grid emerged  as the top Sensex gainer, gaining nearly 4 per cent, followed by Bajaj Finance and Bajaj Finserv, which surged 3.68 per cent and 2.68 per cent, respectively.  

Titan is up by nearly 3 per cent while Bharti Airtel is the only Sensex stock slipping in red, down by 1.64 per cent.  

During the morning trade, BSE Mid-cap index is up by 1.30 per cent while BSE Small-cap index is up by 1 per cent thereby, outperforming Sensex.  

Gland Pharma, Concor, and Adani Green are the top-performing mid-caps while Schneider Electric, Nucleus Software, and Patel Engineering are amongst the top-performing small-caps.  

Except for BSE Telecom index, almost all the other sectoral indices are trading in the green in the morning session.  

Asian markets are mostly trading in green with the exception of Shanghai index, which is trading flat with a negative bias. US markets on Monday closed marginally in red with Nasdaq being down by more than 0.38 per cent while Dow Jones was down by 0.16 per cent.  

SGX Nifty is signalling a strong start for the Indian markets, trading higher by 160 points or 1.06 per cent. Traders and investors will be watching the levels of 15,000 very closely as a decisive breakout above 15,000 levels for Nifty would mean that markets can inch closer to all-time highs, it made for itself in February 2021. All eyes will be on the banking stocks as it was the banks that led the magic rally on Monday. 

Markets may also react to the below estimate results of Bharti Airtel and is expected to take cues from results announcement of companies like Tata Motors, Canara Bank, Aarti Industries, Abbott India, Torrent Pharmaceuticals, Ujjivan Small Finance Bank, IIFL Wealth Management, JBM Auto, Jindal Stainless (Hisar), PI Industries, Pioneer Embroideries, Route Mobile, etc., 

Indian markets underperformed their global peers in recent trading sessions as the number of COVID cases rose to record levels in May this year. Now that experts are claiming peaking of COVID cases in India and data on ground also suggesting a lower number of cases reported in last few days, market sentiment has reversed. At best, we can say that the Indian market is catching up with the rest of the world.