Domestic equity market kicked off New Year on a cheerful note.
Fag-end buying in select telecom and financial stocks supported benchmark NSE Nifty to extend its rally into fifth day.
The 50-pack added 47 points, or 0.44 per cent, to end at 10,910, while 30-share BSE Sensex closed 186 points, or 0.52 per cent, higher at 36,254.As many as 32 Nifty stocks closed in green with Bharti Airtel, HDFC, SBI, BPCL and Bharti Infratel gaining up to 3 per cent.
On other hand, MM, Hindalco, Indiabulls Housing Finance, HUL, and JSW Steel dipped between 1 per cent and 4 per cent.Here are highlights of Tuesday's session:Select PSU banks spurt up to 12%Shares of UCO Bank, Bank of Maharashtra (BoM), Syndicate Bank and Central Bank of India rallied up to 12 per cent after government on Monday infused Rs 10,882 crore in these lenders as part of its Rs 28,615 crore capital infusion plan.
UCO Bank rose 12.10 per cent to Rs 22.70, Bank of Maharashtra 3.83 per cent to Rs 15.46 while Syndicate Bank and Central Bank of India added 1.27 per cent and 1.36 per cent, respectively.New CEO lifts Axis Bank sharesShares of Axis Bank gained over 1 per cent after former HDFC Life Insurance Managing Director Amitabh Chaudhry joined as new CEO and MD in place of Shikha Sharma, who retired from service on Monday.
Chaudhry will remain in office till December 31, 2021.
Chaudhry was with life insurer since January 2010 and is widely credited for insurers successful IPO in 2018.Poor Dec sales hit auto stocksPoor December sales hurt auto stocks, with BSE Auto index slipping 0.52 per cent to 20,726.
MM shares plunged 3.75 per cent after it reported 6 per cent drop in December tractor sales at 17,404 units.
Eicher Motors ended flat at Rs 23,184 after Royal Enfield maker reported a 13 per cent YoY fall in sales at 58,278 units.
Tata Motors gained over 0.50 per cent after company reported 8 per cent drop in sales at 50,440.
Maruti Suzuki swam against tide and advanced by a marginal 0.21 per cent despite having reported 1.3 per cent drop in sales at 1,28,338 units.
Tata Motors blamed slowdown in commercial vehicle sales on liquidity crisis, higher interest rates and rising fuel costs.
While MHCV and ILCV segments are witnessing a drop, passenger vehicle business has bounced back, Tata firm said in a release.Nifty charts show bullish candleNifty formed a small bullish candle on daily charts with a long lower shadow.
The index had opened on a shaky note and witnessed weakness in morning trade before recovering sharply in afternoon session.
Technically, with Nifty surging higher, bulls remain in control.
Further upsides are likely once immediate resistance of 10,924 is taken out.
Crucial supports to watch for any trend reversal is at 10,807, said Subash Gangadharan, Senior Technical and Derivative Analyst at HDFC Securities.Who moved my Sensex HDFC contributed most to rally in Sensex, followed by HDFC Bank, ICICI Bank, Infosys, State Bank of India and Axis Bank in that order.
In terms of percentage gains, Bharti Airtel, HDFC, YES Bank and HDFC Bank were top gainers while MM, Tata Steel, ONGC and HUL finished as top index losers.
Realty top sectoral gainer A rally in shares of Prestige Estates (up 7.77 per cent), Mahindra Lifespace Developers (up 3.58 per cent), Phoenix (up 2.72 per cent), Oberoi Realty (up 2.18 per cent) and DLF (up 1.72 per cent) boosted BSE Realty index, helping it to surge 2.21 per cent to 1,837.
Eight stocks in index advanced while 2 declined.
Midcaps underperformed smallcapsThe BSE Midcap index ended 0.08 per cent down at 15,426, while Smallcap index added 0.41 per cent to 14,766.
Motilal Oswal Financial Services (down 3.19 per cent), Supreme Industries (down 2.47 per cent), Endurance (down 2.06 per cent) and TI Financial Holdings (down 1.81 per cent) were among top losers in index.Spurt in open interest With a 15.32 per cent change in open interest, Escorts led stocks that witnessed biggest spurt in open interest on NSE.
It was followed by MM (12.78 per cent), Bank of Baroda (10.61 per cent), Indian Bank (10.47 per cent) and IGL (10.18 per cent).
Most active stocksHCC (number of shares traded 4.42 crore), Reliance Communications (4.51 crore), MTNL (2.69 crore), YES Bank (2.41 crore) and Bank of Baroda (2.33 crore) were most traded stocks on NSE in terms of volume while Axis Bank (Rs 760.95 crore), IndusInd Bank (Rs 643.57 crore), Dredging Corporation (Rs 516 crore), Reliance Industries (Rs 498 crore), Maruti Suzuki (Rs 465 crore) and Sun Pharma (Rs 369 crore) were most active in terms of value.50 stocks look bullishMomentum indicator moving average convergence divergence, or MACD, showed bullish crossovers on 50 counters on NSE, signalling a likely rise in these stocks.
Among them were Reliance Industries, Bajaj Hindusthan, Bharat Wire, Aurobindo Pharma, HDFC and Atul Auto.
However, 22 stocks, including Swan Energy, Gokul Refoils, Allcargo, Man Industries, GE Power and Gayatri Projects, showed bearish crossovers.