Sensex gains 200 points; Nifty50 above 7,550
The Nifty50 reclaimed its crucial level of 7,550, supported by gains in realty, power, oil & gas, metal, auto, and banking stocks.
By ET Online |
NEW DELHI: The S&P BSE Sensex surged over 250 points in trade on Wedensday after slumping over 250 points tracking positive cues from the European and other Asian markets.
The Nifty50 also reclaimed 7,550 after plunging in intraday trade to breach the crucial 7,450 mark for the first time since July, 2014.
The sentiments on the Street were jittery after IIP data showed that manufacturing activity in November slumped to a four-year low of minus 3.4 per cent from 9.1 per cent a month before. The CPI inflation also saw a marginal uptick to 5.6 per cent, flirting with the RBI's near-term target of 5.8 per cent, wiping off any hopes a rate cut by the central bank in its next rate-setting meet due later this month.
For minute-by-minute market/stock updates, follow our Twitter handle @ETMarkets
The broader market indices cracked in trade with the BSE smallcap index shedding 4 per cent of its value intraday, as heavy selling by DIIs took its toll. The BSE midcap index also traded lower by 2 per cent. The market breadth was extremely weak with only one of every ten BSE stocks trading in the green.
Shares of DCB Bank surges about 6 per cent in early trade after strong Q3 earnings show while Axis Bank shares slumped about 3 per cent in trade. Shares of Bharti Airtel gained over a per cent after the company announced the sale of telecom business in Burkina Faso and Sierra Leone to Orange.
Most other Asian markets rallied as China posted strong export data earlier in the day. Japan's Nikkei rallied about 2 per cent while South Korea's Kospi was up 1.3 per cent. Hong Kong's Hang Seng index traded higher by 2.31 per cent. China's CSI 300 index rose 0.16 per cent.
Markets @ 3
Sensex 24,896, gains 214 points, Nifty 7,562, up 52 points
Top Gainers:
INFOSYS LTD (3.71%), RELIANCE IND. (3.54%), TATA MOTORS(3.32%), M&M (1.94%), ICICI BANK (1.71%)
Top Losers:
BHARTI AIRTEL(2.03%), ADANI PORTS & SEZ (1.95%) LUPIN LTD (1.87%), TCS (1.83%), BHEL (1.73%)
WHAT TOP EXPERTS ARE SAYING:
Upgrade Glenmark to Neutral from Underperform, target at Rs 900 from Rs 805: Credit Suisse
Imposition of minimum import price in India & sale of Corus's long products biz may boost Tata Steel: CLSA
Maintain Buy On Federal Bank, cut target to Rs 71 from Rs 78: Goldman Sachs
Maintain Overweight on TCS, cut target to Rs 2,780 from Rs 2,925: Barclays
Here is a list of top twelve stocks that are in focus today:
TCS Ltd: In rupee terms, TCS reported sequential revenue growth of 0.7% to Rs 27,364 crore. Profit after tax was flat at $926 million. In rupee terms, the net profit rose 0.9% sequentially to Rs 6,109 crore. Operating margin contracted 0.48 percentage point to 26.6%.
Infosys Ltd: Infosys Ltd is likely to report 1.3% sequential drop in its net profit to Rs 3,351.10 crore for the quarter ended December 31 on Thursday, said an ET Now poll. The results will be declared ahead of market hours.
IT stocks in focus: The US on Tuesday notified massive increase in fees in certain categories of the popular H-1B and L-1 visas which would mainly hit Indian IT companies.
Coal India Ltd: CIL is making its biggest tech overhaul in four decades to check rampant theft and shed its image as an inefficient behemoth, spurred by an impending opening up of the sector to private firms for the first time since the 1970s.
DCB Bank Ltd: Private player DCB Bank on Tuesday reported a marginal 3 per cent decline in standalone net profit at Rs 41.20 crore for the third quarter ended December 31, 2015-16.
SBI: State Bank of India said it is planning to monetise non-core assets and list some of its subsidiaries for meeting capital needs as well as global risk norms, Basel III, which will kick in from March 2019.
Pantaloons Fashion & Retail Ltd: The company which was acquired by Aditya Birla Nuvo Ltd (ABNL), on Tuesday announced change in its name to 'Aditya Birla Fashion and Retail Ltd'.
Crompton Greaves Ltd: Crompton Greaves Ltd has informed BSE regarding a Press Release dated January 12, 2016 titled "CG to power offshore wind farm in the Baltic Sea".
Tata Power Ltd: Tata Power Ltd said it has raised Rs 500 crore by issuing unsecured redeemable, taxable non-convertible debentures on private placement basis.
Godfrey Phillips India (GPI): Japan Tobacco (JT), the world's third-largest listed tobacco company, is in talks to acquire a part of the promoter's stake in Godfrey Phillips India (GPI), said a media report.
Piramal Enterprises Ltd: The company announced sale of BST-CarGel from Piramal Healthcare (Canada) Ltd to Smith & Nephew, a global medical technology business.
Radico Khaitan Ltd: HSBC Global Investments Funds today reduced its stake in liquor firm Radico Khaitan to 5.89 per cent after offloading shares in the open market.
Strides Shasun Ltd: The Competition Commission of India has approved Strides Shasun’s acquisition of two divisions of Sun Pharmaceutical Industries, said a media report.
MARKETS THROUGH THE DAY:
Markets @ 2
Sensex 24,761, gains 79 points, Nifty 7,508, down 3 points
Top Gainers:
RELIANCE IND. (3.59%), TATA MOTORS (2.17%), M&M (2.02%), INFOSYS LTD (1.82%), ITC LTD (0.74%)
Top Losers:
L&T (2.92%), ADANI PORTS & SEZ (2.62%), BHEL (2.39%), BHARTI AIRTEL (2.14%), LUPIN LTD(1.95%)
Markets @ 1
Sensex 24,419, down 263 points, Nifty 7,436, down 74 points
Top Gainers:
TATA MOTORS (1.23%), RELIANCE IND. (0.49%), INFOSYS LTD (0.16%), BAJAJ AUTO (0.02%)
Top Losers:
ADANI PORTS & SEZ (5.33%), BHEL (4.49%), L&T (3.91%), TATA STEEL (3.49%), BHARTI AIRTEL (3.32%)
Markets @ 12
Sensex 24,579, down 103 points, Nifty 7,481, down 29 points
Top Gainers:
TATA MOTORS (1.34%), INFOSYS LTD (1.21%), M&M (0.96%), RELIANCE IND. (0.89%), ITC LTD (0.46%)
Top Losers:
ADANI PORTS & SEZ (3.96%), L&T (2.93%), TCS (2.50%), AXIS BANK (2.13%), LUPIN LTD (2.11%)
Markets @ 11
Sensex 24,865, gains 183 points, Nifty 7,562, up 52 points
Top Gainers:
TATA MOTORS (2.80%), M&M (2.49%), INFOSYS LTD (2.23%), BHARTI AIRTEL (1.70%), SUN PHARMA (1.62%)
Top Losers:
Markets @ 10
Sensex 24,897, gains 215 points, Nifty 7,579, up 69 points
Top Gainers:
TATA MOTORS (2.32%), M&M (2.18%), SUN PHARMA (1.81%), BHARTI AIRTEL (1.62%), INFOSYS LTD (1.61%)
Top Losers:
TCS (1.62%), WIPRO (0.68%)
The 30-share index was trading at 24,836, up 154 points or 0.63 per cent. It touched a high of 24,870.37 and a low of 24,804.64 in morning trade.
The Nifty50 was at 7,559 up 47 points or 0.63 per cent. It touched a high of 7,570.15 and a low of 7,551.55 in the first 30 minutes of trade.
The S&P BSE Midcap Index was up 0.69 per cent and BSE S&P Smallcap Index was trading 0.73 per cent higher.
RIL (up 1.4 per cent), Bharti Airtel (up 1.3 per cent), Tata Motors (up 1.25 per cent), Sun Pharma (up 1.2 per cent), and Infosys (up 1 per cent), were the major Sensex gainers.
TCS (down 0.58 per cent), Axis Bank (down 0.1 per cent), and M&M (down 0.02 per cent), were among the major Sensex losers.
The Nifty50 also reclaimed 7,550 after plunging in intraday trade to breach the crucial 7,450 mark for the first time since July, 2014.
The sentiments on the Street were jittery after IIP data showed that manufacturing activity in November slumped to a four-year low of minus 3.4 per cent from 9.1 per cent a month before. The CPI inflation also saw a marginal uptick to 5.6 per cent, flirting with the RBI's near-term target of 5.8 per cent, wiping off any hopes a rate cut by the central bank in its next rate-setting meet due later this month.
For minute-by-minute market/stock updates, follow our Twitter handle @ETMarkets
The broader market indices cracked in trade with the BSE smallcap index shedding 4 per cent of its value intraday, as heavy selling by DIIs took its toll. The BSE midcap index also traded lower by 2 per cent. The market breadth was extremely weak with only one of every ten BSE stocks trading in the green.
Shares of DCB Bank surges about 6 per cent in early trade after strong Q3 earnings show while Axis Bank shares slumped about 3 per cent in trade. Shares of Bharti Airtel gained over a per cent after the company announced the sale of telecom business in Burkina Faso and Sierra Leone to Orange.
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Most other Asian markets rallied as China posted strong export data earlier in the day. Japan's Nikkei rallied about 2 per cent while South Korea's Kospi was up 1.3 per cent. Hong Kong's Hang Seng index traded higher by 2.31 per cent. China's CSI 300 index rose 0.16 per cent.
Markets @ 3
Sensex 24,896, gains 214 points, Nifty 7,562, up 52 points
Top Gainers:
ADVERTISEMENT
INFOSYS LTD (3.71%), RELIANCE IND. (3.54%), TATA MOTORS(3.32%), M&M (1.94%), ICICI BANK (1.71%)
Top Losers:
ADVERTISEMENT
BHARTI AIRTEL(2.03%), ADANI PORTS & SEZ (1.95%) LUPIN LTD (1.87%), TCS (1.83%), BHEL (1.73%)
WHAT TOP EXPERTS ARE SAYING:
Upgrade Glenmark to Neutral from Underperform, target at Rs 900 from Rs 805: Credit Suisse
Imposition of minimum import price in India & sale of Corus's long products biz may boost Tata Steel: CLSA
Maintain Buy On Federal Bank, cut target to Rs 71 from Rs 78: Goldman Sachs
Maintain Overweight on TCS, cut target to Rs 2,780 from Rs 2,925: Barclays
Here is a list of top twelve stocks that are in focus today:
ADVERTISEMENT
TCS Ltd: In rupee terms, TCS reported sequential revenue growth of 0.7% to Rs 27,364 crore. Profit after tax was flat at $926 million. In rupee terms, the net profit rose 0.9% sequentially to Rs 6,109 crore. Operating margin contracted 0.48 percentage point to 26.6%.
Infosys Ltd: Infosys Ltd is likely to report 1.3% sequential drop in its net profit to Rs 3,351.10 crore for the quarter ended December 31 on Thursday, said an ET Now poll. The results will be declared ahead of market hours.
IT stocks in focus: The US on Tuesday notified massive increase in fees in certain categories of the popular H-1B and L-1 visas which would mainly hit Indian IT companies.
Coal India Ltd: CIL is making its biggest tech overhaul in four decades to check rampant theft and shed its image as an inefficient behemoth, spurred by an impending opening up of the sector to private firms for the first time since the 1970s.
ADVERTISEMENT
DCB Bank Ltd: Private player DCB Bank on Tuesday reported a marginal 3 per cent decline in standalone net profit at Rs 41.20 crore for the third quarter ended December 31, 2015-16.
SBI: State Bank of India said it is planning to monetise non-core assets and list some of its subsidiaries for meeting capital needs as well as global risk norms, Basel III, which will kick in from March 2019.
ADVERTISEMENT
Pantaloons Fashion & Retail Ltd: The company which was acquired by Aditya Birla Nuvo Ltd (ABNL), on Tuesday announced change in its name to 'Aditya Birla Fashion and Retail Ltd'.
Crompton Greaves Ltd: Crompton Greaves Ltd has informed BSE regarding a Press Release dated January 12, 2016 titled "CG to power offshore wind farm in the Baltic Sea".
Tata Power Ltd: Tata Power Ltd said it has raised Rs 500 crore by issuing unsecured redeemable, taxable non-convertible debentures on private placement basis.
Godfrey Phillips India (GPI): Japan Tobacco (JT), the world's third-largest listed tobacco company, is in talks to acquire a part of the promoter's stake in Godfrey Phillips India (GPI), said a media report.
Piramal Enterprises Ltd: The company announced sale of BST-CarGel from Piramal Healthcare (Canada) Ltd to Smith & Nephew, a global medical technology business.
Radico Khaitan Ltd: HSBC Global Investments Funds today reduced its stake in liquor firm Radico Khaitan to 5.89 per cent after offloading shares in the open market.
Strides Shasun Ltd: The Competition Commission of India has approved Strides Shasun’s acquisition of two divisions of Sun Pharmaceutical Industries, said a media report.
MARKETS THROUGH THE DAY:
Markets @ 2
Sensex 24,761, gains 79 points, Nifty 7,508, down 3 points
Top Gainers:
RELIANCE IND. (3.59%), TATA MOTORS (2.17%), M&M (2.02%), INFOSYS LTD (1.82%), ITC LTD (0.74%)
Top Losers:
L&T (2.92%), ADANI PORTS & SEZ (2.62%), BHEL (2.39%), BHARTI AIRTEL (2.14%), LUPIN LTD(1.95%)
Markets @ 1
Sensex 24,419, down 263 points, Nifty 7,436, down 74 points
Top Gainers:
TATA MOTORS (1.23%), RELIANCE IND. (0.49%), INFOSYS LTD (0.16%), BAJAJ AUTO (0.02%)
Top Losers:
ADANI PORTS & SEZ (5.33%), BHEL (4.49%), L&T (3.91%), TATA STEEL (3.49%), BHARTI AIRTEL (3.32%)
Markets @ 12
Sensex 24,579, down 103 points, Nifty 7,481, down 29 points
Top Gainers:
TATA MOTORS (1.34%), INFOSYS LTD (1.21%), M&M (0.96%), RELIANCE IND. (0.89%), ITC LTD (0.46%)
Top Losers:
ADANI PORTS & SEZ (3.96%), L&T (2.93%), TCS (2.50%), AXIS BANK (2.13%), LUPIN LTD (2.11%)
Markets @ 11
Sensex 24,865, gains 183 points, Nifty 7,562, up 52 points
Top Gainers:
TATA MOTORS (2.80%), M&M (2.49%), INFOSYS LTD (2.23%), BHARTI AIRTEL (1.70%), SUN PHARMA (1.62%)
Top Losers:
ADVERTISEMENT
TCS (1.80%), LUPIN LTD (0.90%), AXIS BANK (0.57%), DR. REDDYS LAB (0.47%), HERO MOTOCORP (0.40%)Markets @ 10
Sensex 24,897, gains 215 points, Nifty 7,579, up 69 points
Top Gainers:
TATA MOTORS (2.32%), M&M (2.18%), SUN PHARMA (1.81%), BHARTI AIRTEL (1.62%), INFOSYS LTD (1.61%)
ADVERTISEMENT
Top Losers:
TCS (1.62%), WIPRO (0.68%)
ADVERTISEMENT
Markets @ 9:20The 30-share index was trading at 24,836, up 154 points or 0.63 per cent. It touched a high of 24,870.37 and a low of 24,804.64 in morning trade.
The Nifty50 was at 7,559 up 47 points or 0.63 per cent. It touched a high of 7,570.15 and a low of 7,551.55 in the first 30 minutes of trade.
The S&P BSE Midcap Index was up 0.69 per cent and BSE S&P Smallcap Index was trading 0.73 per cent higher.
RIL (up 1.4 per cent), Bharti Airtel (up 1.3 per cent), Tata Motors (up 1.25 per cent), Sun Pharma (up 1.2 per cent), and Infosys (up 1 per cent), were the major Sensex gainers.
TCS (down 0.58 per cent), Axis Bank (down 0.1 per cent), and M&M (down 0.02 per cent), were among the major Sensex losers.
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