Datamatic Global Services extended its gains and surged another 20 per cent after strong Q4 numbers, while Welspun India jumped over 15 per cent over buyback buzz.
After an extended weekend, bulls continued to dominate the Dalal street. Domestic equity markets extended their gains for the straight eighth session and settled higher on Tuesday as headline peers defied the muted global sentiments on the back of positive economic data from the country. Traders will keenly be looking at the US Fed's meeting later this week. For the day, BSE Sensex gained 242.27 points, or 0.40 per cent, to close at 61,354.71, while NSE's Nifty50 rose 82.65 points, or 0.46 per cent, to settle at 18,147.65. Broader markets outperformed the headline indices as BSE midcap and smallcap indices added a per cent, each. Fear gauge India VIX gained about 9 per cent to settle at 11.90-levels. India's relatively better macro-economic growth has been adding fizz to the ongoing rally, with the robust April GST numbers further providing a fillip even as global markets remain sluggish to negative. Rally in IT, metals and power stocks helped benchmark indices sail above the crucial levels, said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities. "Technically, the Nifty has formed a small candle while on intraday charts it is still holding higher bottom, a formation which is broadly positive. In the near future, 18,050-18,000 would be the key support zone while 18,200-18,250 would act as an immediate hurdle for the bulls. However, below 18,000, the uptrend would be vulnerable," he said. On a sectoral front, Only Nifty Pharma, FMCG and PSU Bank indices settled in red. Nifty Metal index gained over a per cent, followed by Nifty IT and Oil & Gas indices, which posted similar gains. Nifty Auto index was also among top gainers for the day. On the Nifty50 pack, ONGC surged over 3 per cent, leading the gainers, followed by a 3 per cent rise in Tech Mahindra and HDFC Life Insurance each. NTPC, Hindalco, Tata Steel, Maruti Suzuki, Infosys and Tata Consumer Products advanced 2 per cent each. On the contrary, Here MotoCorp plunged more than 2 per cent, while Sun Pharma also dropped 2 per cent. Ultratech Cement, Bharti Airtel, Kotak Mahindra Bank, Britannia Industries and Tata Motors were also among the top losers, falling about a per cent, each. Defying the trend in global peers, Indian benchmark indices continued its upward momentum, fueled by strong Q4 earnings and favorable domestic macroeconomic data, said Vinod Nair, Head of Research at Geojit Financial Services. "The manufacturing PMI surpassed expectations due to an increase in new business, moderation in price pressures, and improved supply chain conditions. Additionally, the GST collection in April was the highest recorded to date. While western markets traded with mild cuts ahead of the US Fed policy announcement, the domestic market benefited from strong inflows by FIIs," he said. A total of 3,816 shares were traded on BSE on Tuesday, of which 2,121 settled in green. 1,510 stocks ended the session with gains, while 1385 shares remained unchanged. A total of 263 shares hit their upper circuit, whereas 178 tested the lower circuit levels for the day. In the broader markets, Datamatic Global Services extended its gains and surged another 20 per cent after strong Q4 numbers. Railway stock IRCON International and textile firm Indo Count Industries surged 16 per cent, each. Welspun India jumped over 15 per cent the company board approved a Rs 195-crore buyback. Among the losers, Gallantt Ispat plunged about 15 per cent after the Income Tax Department carried out search operations in the company premises and promoter properties. Atul Auto plunged over 10 per cent after providing muted monthly sales figures. MRPL tanked 6 per cent, while RBL Bank settled 4 per cent lower.