Sensex rallies over 200 points; Nifty above 8,200; JK Tyre gains 3%, DCB Bank up 5%
The S&P BSE Sensex started on a cautious note on Friday even though most of the other emerging markets were trading with a positive bias.
By ET Online | Updated:
NEW DELHI: The S&P BSE Sensex rallied over 100 points on Friday after tracking similar trends seen in other Asian and European markets.
The Nifty50 was also trading above its crucial psychological support level of 8,200.
The S&P BSE midcap index gained 0.18 per cent while the BSE smallcap index rose 0.17 per cent. Among the sectoral indices, the BSE Realty index was the top laggard.
India's trade deficit shrank from $12.5 billion to $10.48 billion in September data released post market hours on Thursday showed. However, export slumped for twelfth consecutive month by 25 per cent to $21.84 billion indicating underlying weaknesses in the economy.
Shares of Nestle India surged over 7 per cent as the company said it committed to re-introduce its Maggi noodles at the earliest. "Will reintroduce maggi after newly manufactured prodcuts cleared by labs," said the company.
RIL, Jyothy Laboratories and Edelweiss Financial Services are among 28 companies scheduled to announce their quarterly earnings today.
Reliance Industries, the oil & gas major, is expected to report 3.2 per cent rise in net profit to Rs 5,926 crore for the quarter ended September 30, compared to Rs 5,742 crore reported in the year-ago period, said an ET Now Poll.
Snapping its two-day winning streak, the rupee fell by 8 paise to 64.90 against the US dollar in early trade on Friday. The domestic currency had closed 21 paise higher at 64.82 against the greenback in the previous session on sustained dollar selling by banks and exporters.
The European markets traded with a positive bias tracking similar trends seen in Asian markets. The German DAX was up 0.54 per cent while the French CAC40 and Britain's FTSE100 traded higher by 0.45 per cent each. The pan-European Euro Stoxx index gained 0.4 per cent.
Most other Asian markets traded with smart gains taking cues from the rally seen in US markets. Japan's Nikkei closed 1.08 per cent higher while Taiwan ended the day higher by 0.04 per cent. Hong Kong's Hang Seng index gained 0.5 per cent while China's Shanghai Composite was up 0.9 per cent.
US stocks rallied on Thursday after US Jobless claims succumbed to their lowest levels in 42 years, data released by the US Commerce Department on Thursday showed. The uneployment claims fell by 7,000 to 255,000 in September beating estimates. The data along with a 1.8 per cent core CPI inflation helped pacify investors concern over US economy while also bring forward the expected timeline of a rate hike by the US Federal Reserve.
The Dow Jones industrial average rose 217 points, or 1.28 per cent, to 17,141.75, the S&P 500 gained 29.62 points, or 1.49 per cent, to 2,023.86 and the Nasdaq Composite added 87.25 points, or 1.82 per cent, to 4,870.10.
Markets @ 03:00
Sensex: 26210.31, up 200 points; Nifty: 8236.00, up 57 points
Top Gainers:
L&T (2.5%), NTPC (1.8%), ICICI BANK (1.7%), TATA MOTORS (1.6%), SBI (1.5%)
Top Losers:
LUPIN LTD (2.2%), TATA STEEL (1.2%), COAL INDIA (1.0%), HIND. UNILEVER (0.7%), HINDALCO (0.3%)
BUZZING STOCKS:
Nestle India surged over 7 per cent in intraday trade.
Cyient slumped 12 in intraday trade.
DLF was down 4 per cent in intraday trade.
DCB Bank climbed over 5 per cent in intraday trade.
Reliance Communications gained over 2 per cent in intraday trade.
MindTree rose about 3 per cent in intraday trade.
Bharti Airtel slipped about 3 per cent in intraday trade.
JK Tyre was up over 3 per cent in intraday.
WHAT TOP EXPERTS ARE SAYING:
Maintain Equalweight on MindTree; raise target to Rs 1,455 from Rs 1,300: Morgan Stanley
Maintain Buy on DB Corp; cut target to Rs 375 from Rs 390: Citi
Here is a list of twelve stocks that are in focus today:
Reliance Industries Ltd: The oil & gas major is expected to report 3.2 per cent rise in net profit to Rs 5,926 crore for the quarter ended September 30, compared to Rs 5742 crore reported in the year-ago period, said an ET Now Poll.
Financial Technologies Ltd: The Department of Company Affairs (DCA) is going ahead with the merger of the National Spot Exchange Ltd. (NSEL) with parent Financial Technologies (India) Ltd (FTL), the finance secretary said.
MindTree Ltd: Posting 15.1 per cent rise in its net profit for the September quarter, IT firm Mindtree said it is confident of beating Nasscom's industry growth guidance of 12-14 per cent despite a traditionally slow third quarter.
DB Corp Ltd: Media firm DB Corp reported 13.12 per cent decline in its consolidated net profit at Rs 59.16 crore during the second quarter ended September 30, 2015 due to higher tax expense.
Tata Motors Ltd: Tata Motors on Thursday reported 21% increase in its global sales, including that of Jaguar Land Rover (JLR) vehicles, at 97,102 units in September.
IOC, HPCL, BPCL: State fuel retailers have raised the price of diesel by 95 paise a litre but kept that of petrol unchanged following their fortnightly review to align local prices with international ones and adjust for foreign exchange rates.
HDFC Ltd: The Competition Commission has approved British insurer Standard Life's additional stake purchase in its Indian insurance joint venture HDFC Life.
DLF Ltd: The Securities and Exchange Board of India ( Sebi) has moved the Supreme Court, seeking a restraint order on the plans of realty major DLF to monetise its rental properties, said a media report.
Bank of Maharashtra: The bank said it has allotted over 10.52 crore equity shares to the government valued at Rs 393.99 crore in exchange of infusion of capital into the bank.
Parsvnath Developers Ltd: Realty firm Parsvnath Developers said it would develop a housing project in Jodhpur with an expected sales revenue of Rs 100 crore.
Jay Bharat Maruti Ltd: The company reported standalone net profit of Rs. 9.94 crore for the quarter, registering growth of (18.79%) YoY and 24.71% QoQ, said a media report.
V-Guard Industries Ltd: The consumer electrical and electronics company V-Guard Industries Ltd has registered a 20 per cent growth in its net profit at Rs 23 crore in Q2 in FY-16.
MARKETS THROUGH THE DAY:
Markets @ 2:00
Sensex: 26999.14, down 11 points; Nifty: 8177.00, down 2 points
Top Gainers:
NTPC (1.8%), L&T (1.7%), TATA MOTORS (1.2%), ONGC (0.8%), MARUTI SUZUKI (0.8%)
Top Losers:
LUPIN (2.7%), TATA STEEL (2.1%), BHARTI AIRTEL (1.7%), WIPRO (1.6%), COAL INDIA (1.5%)
Markets @ 01:00
Sensex: 26987, down 23 points; Nifty: 8170, down 9 points
Top Gainers:
TATA MOTORS (1.9%), NTPC (1.7%), L&T (1.6%), BAJAJ AUTO (0.9%), RELIANCE IND. (0.8%)
Top Losers:
LUPIN LTD (2.5%), TATA STEEL (1.9%), BHARTI AIRTEL (1.8%), ITC LTD (1.4%), COAL INDIA (1.4%)
Markets @ 12:20
Sensex: 26928.12, down 83 points; Nifty: 8154.25, down 25 points
Top Gainers:
NTPC (1.3%), L&T (1.2%), RIL (0.9%), TATA MOTORS (0.7%), HDFC BANK (0.6%)
Top Losers:
LUPIN (2.8%), TATA STEEL (2.1%), BHARTI AIRTEL (2.0%), HINDALCO (1.5%), COAL INDIA (1.4%)
Markets @ 11:00
Sensex: 26979.30, down 30 points; Nifty: 8168.80, down 10 points
Top Gainers:
NTPC (1.5%), MARUTI SUZUKI (1.2%), L&T (1.2%), RIL (0.8%), TATA MOTORS (0.7%)
Top Losers:
BHARTI AIRTEL (2.3%), LUPIN (2.2%), HINDALCO (1.2%), ITC (1.0%), TATA STEEL (1.0%)
Markets @ 10:00
Sensex: 26963.72, down 46 points; Nifty: 8169.35, down 10 points
Top Gainers:
NTPC (1.6%), MARUTI SUZUKI (1.4%), TATA MOTORS (1.3%), L&T (1.1%), RIL (0.8%)
Top Losers:
BHARTI AIRTEL (2.1%), LUPIN (1.7%), ONGC (1.0%), ICICI BANK (1.0%), AXIS BANK (0.9%)
Markets @ 9:20
The 30-share index was trading at 26,988, down 21 points or 0.08 per cent. It touched a high of 27,010.14 and a low of 27,062.80 in morning trade.
The Nifty50 was at 8,169.45, down 10 points or 0.12 per cent. It touched a high of 8,196.20 and a low of 8,167.05 in the first 30 minutes of trade.
The S&P BSE Midcap Index was up 0.16 per cent and BSE S&P Smallcap Index edged higher by 0.30 per cent.
Tata Motors (up 2.4 per cent), SBI (up 0.7 per cent), TCS (up 0.68 per cent), and Wipro (up 0.6 per cent) were among the major Sensex gainers.
Bharti Airtel (down 2.4 per cent), Axis Bank (down 1.08 per cent), Coal India (down 1.04 per cent), and Lupin (down 1.01 per cent) were among the major Sensex losers.
The Nifty50 was also trading above its crucial psychological support level of 8,200.
The S&P BSE midcap index gained 0.18 per cent while the BSE smallcap index rose 0.17 per cent. Among the sectoral indices, the BSE Realty index was the top laggard.
India's trade deficit shrank from $12.5 billion to $10.48 billion in September data released post market hours on Thursday showed. However, export slumped for twelfth consecutive month by 25 per cent to $21.84 billion indicating underlying weaknesses in the economy.
Shares of Nestle India surged over 7 per cent as the company said it committed to re-introduce its Maggi noodles at the earliest. "Will reintroduce maggi after newly manufactured prodcuts cleared by labs," said the company.
RIL, Jyothy Laboratories and Edelweiss Financial Services are among 28 companies scheduled to announce their quarterly earnings today.
ADVERTISEMENT
Reliance Industries, the oil & gas major, is expected to report 3.2 per cent rise in net profit to Rs 5,926 crore for the quarter ended September 30, compared to Rs 5,742 crore reported in the year-ago period, said an ET Now Poll.
Snapping its two-day winning streak, the rupee fell by 8 paise to 64.90 against the US dollar in early trade on Friday. The domestic currency had closed 21 paise higher at 64.82 against the greenback in the previous session on sustained dollar selling by banks and exporters.
The European markets traded with a positive bias tracking similar trends seen in Asian markets. The German DAX was up 0.54 per cent while the French CAC40 and Britain's FTSE100 traded higher by 0.45 per cent each. The pan-European Euro Stoxx index gained 0.4 per cent.
Most other Asian markets traded with smart gains taking cues from the rally seen in US markets. Japan's Nikkei closed 1.08 per cent higher while Taiwan ended the day higher by 0.04 per cent. Hong Kong's Hang Seng index gained 0.5 per cent while China's Shanghai Composite was up 0.9 per cent.
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US stocks rallied on Thursday after US Jobless claims succumbed to their lowest levels in 42 years, data released by the US Commerce Department on Thursday showed. The uneployment claims fell by 7,000 to 255,000 in September beating estimates. The data along with a 1.8 per cent core CPI inflation helped pacify investors concern over US economy while also bring forward the expected timeline of a rate hike by the US Federal Reserve.
The Dow Jones industrial average rose 217 points, or 1.28 per cent, to 17,141.75, the S&P 500 gained 29.62 points, or 1.49 per cent, to 2,023.86 and the Nasdaq Composite added 87.25 points, or 1.82 per cent, to 4,870.10.
ADVERTISEMENT
Markets @ 03:00
Sensex: 26210.31, up 200 points; Nifty: 8236.00, up 57 points
Top Gainers:
L&T (2.5%), NTPC (1.8%), ICICI BANK (1.7%), TATA MOTORS (1.6%), SBI (1.5%)
Top Losers:
LUPIN LTD (2.2%), TATA STEEL (1.2%), COAL INDIA (1.0%), HIND. UNILEVER (0.7%), HINDALCO (0.3%)
BUZZING STOCKS:
Nestle India surged over 7 per cent in intraday trade.
Cyient slumped 12 in intraday trade.
DLF was down 4 per cent in intraday trade.
DCB Bank climbed over 5 per cent in intraday trade.
Reliance Communications gained over 2 per cent in intraday trade.
MindTree rose about 3 per cent in intraday trade.
Bharti Airtel slipped about 3 per cent in intraday trade.
ADVERTISEMENT
JK Tyre was up over 3 per cent in intraday.
WHAT TOP EXPERTS ARE SAYING:
Maintain Equalweight on MindTree; raise target to Rs 1,455 from Rs 1,300: Morgan Stanley
ADVERTISEMENT
Maintain Buy on LIC Housing Finance; raise target to Rs 600 from Rs 575: UBSMaintain Buy on DB Corp; cut target to Rs 375 from Rs 390: Citi
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Positive global cues may lead next leg of rally: Ashwani GujralHere is a list of twelve stocks that are in focus today:
Reliance Industries Ltd: The oil & gas major is expected to report 3.2 per cent rise in net profit to Rs 5,926 crore for the quarter ended September 30, compared to Rs 5742 crore reported in the year-ago period, said an ET Now Poll.
Financial Technologies Ltd: The Department of Company Affairs (DCA) is going ahead with the merger of the National Spot Exchange Ltd. (NSEL) with parent Financial Technologies (India) Ltd (FTL), the finance secretary said.
MindTree Ltd: Posting 15.1 per cent rise in its net profit for the September quarter, IT firm Mindtree said it is confident of beating Nasscom's industry growth guidance of 12-14 per cent despite a traditionally slow third quarter.
DB Corp Ltd: Media firm DB Corp reported 13.12 per cent decline in its consolidated net profit at Rs 59.16 crore during the second quarter ended September 30, 2015 due to higher tax expense.
Tata Motors Ltd: Tata Motors on Thursday reported 21% increase in its global sales, including that of Jaguar Land Rover (JLR) vehicles, at 97,102 units in September.
IOC, HPCL, BPCL: State fuel retailers have raised the price of diesel by 95 paise a litre but kept that of petrol unchanged following their fortnightly review to align local prices with international ones and adjust for foreign exchange rates.
HDFC Ltd: The Competition Commission has approved British insurer Standard Life's additional stake purchase in its Indian insurance joint venture HDFC Life.
DLF Ltd: The Securities and Exchange Board of India ( Sebi) has moved the Supreme Court, seeking a restraint order on the plans of realty major DLF to monetise its rental properties, said a media report.
Bank of Maharashtra: The bank said it has allotted over 10.52 crore equity shares to the government valued at Rs 393.99 crore in exchange of infusion of capital into the bank.
Parsvnath Developers Ltd: Realty firm Parsvnath Developers said it would develop a housing project in Jodhpur with an expected sales revenue of Rs 100 crore.
Jay Bharat Maruti Ltd: The company reported standalone net profit of Rs. 9.94 crore for the quarter, registering growth of (18.79%) YoY and 24.71% QoQ, said a media report.
V-Guard Industries Ltd: The consumer electrical and electronics company V-Guard Industries Ltd has registered a 20 per cent growth in its net profit at Rs 23 crore in Q2 in FY-16.
MARKETS THROUGH THE DAY:
Markets @ 2:00
Sensex: 26999.14, down 11 points; Nifty: 8177.00, down 2 points
Top Gainers:
NTPC (1.8%), L&T (1.7%), TATA MOTORS (1.2%), ONGC (0.8%), MARUTI SUZUKI (0.8%)
Top Losers:
LUPIN (2.7%), TATA STEEL (2.1%), BHARTI AIRTEL (1.7%), WIPRO (1.6%), COAL INDIA (1.5%)
Markets @ 01:00
Sensex: 26987, down 23 points; Nifty: 8170, down 9 points
Top Gainers:
TATA MOTORS (1.9%), NTPC (1.7%), L&T (1.6%), BAJAJ AUTO (0.9%), RELIANCE IND. (0.8%)
Top Losers:
LUPIN LTD (2.5%), TATA STEEL (1.9%), BHARTI AIRTEL (1.8%), ITC LTD (1.4%), COAL INDIA (1.4%)
ADVERTISEMENT
Markets @ 12:20
Sensex: 26928.12, down 83 points; Nifty: 8154.25, down 25 points
Top Gainers:
NTPC (1.3%), L&T (1.2%), RIL (0.9%), TATA MOTORS (0.7%), HDFC BANK (0.6%)
Top Losers:
LUPIN (2.8%), TATA STEEL (2.1%), BHARTI AIRTEL (2.0%), HINDALCO (1.5%), COAL INDIA (1.4%)
Markets @ 11:00
Sensex: 26979.30, down 30 points; Nifty: 8168.80, down 10 points
Top Gainers:
NTPC (1.5%), MARUTI SUZUKI (1.2%), L&T (1.2%), RIL (0.8%), TATA MOTORS (0.7%)
Top Losers:
BHARTI AIRTEL (2.3%), LUPIN (2.2%), HINDALCO (1.2%), ITC (1.0%), TATA STEEL (1.0%)
ADVERTISEMENT
Markets @ 10:00
Sensex: 26963.72, down 46 points; Nifty: 8169.35, down 10 points
Top Gainers:
NTPC (1.6%), MARUTI SUZUKI (1.4%), TATA MOTORS (1.3%), L&T (1.1%), RIL (0.8%)
ADVERTISEMENT
Top Losers:
BHARTI AIRTEL (2.1%), LUPIN (1.7%), ONGC (1.0%), ICICI BANK (1.0%), AXIS BANK (0.9%)
ADVERTISEMENT
Markets @ 9:20
The 30-share index was trading at 26,988, down 21 points or 0.08 per cent. It touched a high of 27,010.14 and a low of 27,062.80 in morning trade.
The Nifty50 was at 8,169.45, down 10 points or 0.12 per cent. It touched a high of 8,196.20 and a low of 8,167.05 in the first 30 minutes of trade.
The S&P BSE Midcap Index was up 0.16 per cent and BSE S&P Smallcap Index edged higher by 0.30 per cent.
Tata Motors (up 2.4 per cent), SBI (up 0.7 per cent), TCS (up 0.68 per cent), and Wipro (up 0.6 per cent) were among the major Sensex gainers.
Bharti Airtel (down 2.4 per cent), Axis Bank (down 1.08 per cent), Coal India (down 1.04 per cent), and Lupin (down 1.01 per cent) were among the major Sensex losers.
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