Sensex rangebound, Nifty below 8,000; Bank of Baroda, Dr Reddy's crack 10% each
The S&P BSE Sensex rallied over 100 points after starting on a cautious note but on Friday, led by gains in Infosys, NTPC, HDFC, RIL, and L&T.
By ET Online |
NEW DELHI: The S&P SBE Sensex traded in a range on Friday after rallying over 100 points in morning trade tracking the skittish trend seen in other Asian markets and US markets overnight.
The Nifty50 also traded in a range but above its crucial psychological level of 7,950.
The broader markets traded mixed with the BSE midcap index trading higher by 0.02 per cent while the BSE smallcap index edging lower by 0.18 per cent.
"Overall markets look decently poised. I, do not think that there is too much downside to the markets from here because lot of pessimism built around the results, corporate results as well as of the Bihar election, in my view has no long-term impact on the markets," said Sandip Sabharwal, asksandipsabharwal.com.
The sentiment on the Street remained negative with six out of the ten BSE stocks trading in the red. The India VIX, also referred to as the fear gauge, slumped 2.65 per cent in trade.
The European markets traded weak tracking similar trends seen in Asian markets. The German DAX was down 0.2 per cent while the French CAC40 was trading lower by 0.65 per cent. The pan-European Euro Stoxx 50 was down 0.35 per cent. Britain's FTSE100 index traded with marginal gains.
Most other Asian markets traded weak tracking similar trend seen in US markets overnight. Japan's Nikkei closed 0.7 per cent up while the South Korean Kospi ended lower by 0.4 per cent. Hong Kong's Hang Seng index closed lower by 0.9 per cent while mainland China's Shanghai Composite was up 1.9 per cent at close.
Markets @ 3:00
Sensex: 26226.73, down 77 points; Nifty: 7937.90, down 18 points
Top Gainers:
SBI (3.2%), RIL (1.6%), INFOSYS (1.3%), COAL INDIA (1.1%), L&T (0.8%)
Top Losers:
DR. REDDYS LAB (14.5%), GAIL (3.2%), VEDANTA (2.6%), TATA STEEL (2.5%), TATA MOTORS (1.6%)
For minute-by-minute market/stock updates, follow our Twitter handle @ETMarkets
WHAT TOP EXPERTS ARE SAYING:
Maintain Outperform on Arvind, cut target to Rs 350 from Rs 360: Credit Suisse
Maintain Sell on Tata Steel, cut target to Rs 170 from Rs 220: CLSA
Maintain Hold on Cipla, set target of Rs 755: Religare
Here is a list of top fifteen stocks that are in focus today:
Tata Motors Ltd: The global auto giant is expected to report 64 per cent YoY fall in net profit to Rs 2,020 crore for the quarter ended September 30, compared to Rs 5,670 crore reported in the year-ago period, said the ET Now poll.
Polaris Consulting and Services Ltd: US-based Virtusa agreed to buy majority 53 per cent stake in Chennai-based Polaris Consulting and Services for about Rs 1,173 crore.
Sun TV Ltd: Broadcasting firm Sun TV Network is mulling a buyback of its equity shares and has formed a committee to examine the proposal.
Cipla Ltd: India's third largest drug maker, Cipla, on Thursday reported a 44% increase in net profit for its second quarter through September.
Clariant Chemicals Ltd: The company reported net profit of Rs 21.45 crore for the quarter ended September 30 on account one-time income from sale of certain assets.
Binani Cement Ltd: Lenders to Binani Cement, part of the Braj Binani Group, are planning to convert a total debt of Rs 3,000 crore in the company to equity, said two people with knowledge of the matter.
Torrent Pharma Ltd: The Pharma company said it has commenced production from its new plant in Gujarat, the first phase of which has come up at an investment of over Rs 650 crore.
BOSCH Ltd: The company is expected to report 19 per cent YoY rise in net profit to Rs 364 crore for the quarter ended September 30, compared to Rs 306 crore reported in the year-ago period, said an ET Now poll.
Aban Offshore Ltd: Offshore drilling contractor Aban Offshore reported 16.33 per cent decline in its consolidated net profit at Rs 124.45 crore for the second quarter ended September 30.
Castrol India Ltd: The company reported a 21.5 per cent rise in the September quarter net profit to Rs 143.2 crore. The lubricant maker had reported a net profit of Rs 117.9 crore in July-September 2014 quarter.
Kalpataru Power Transmission Ltd: Engineering firm Kalpataru Power Transmission (KPTL) today reported 3.9 per cent drop in standalone net profit at Rs 41.02 crore for the quarter ended September 30, 2015.
GTL Infrastructure Ltd: Telecom tower firm GTL Infrastructure reported widening of net loss at Rs 167.83 crore for the quarter ended September 30, 2015.
JK Paper Ltd: The company reported a standalone net profit of Rs 19.81 crore for the second quarter ended September 30, on increased volume, effective utilisation of raw materials and uptick in sales of copier papers.
MARKETS THROUGH THE DAY:
Markets @ 2:00
Sensex: 26250.43, down 53 points; Nifty: 7941.00, down 14 points
Top Gainers:
SBI (3.5%), RIL (1.5%), INFOSYS (1.3%), ONGC (1.1%), L&T (0.9%)
Top Losers:
DR. REDDYS LAB (14.1%), TATA STEEL (2.8%), M&M (2.8%), GAIL (2.6%), BHEL (2.5%)
Markets @ 01:00
Sensex: 26288.64, down 15 points; Nifty: 7956.80, up 1 point
Top Gainers:
SBI (2.6%), INFOSYS LTD (1.7%), RELIANCE IND. (1.6%), ONGC (1.4%), BAJAJ AUTO (1.1%)
Top Losers:
DR. REDDYS LAB (13.9%), TATA STEEL (3.0%), GAIL (1.7%), BHEL (1.3%), M&M (1.1%)
Markets @ 12:00
Sensex: 26321.38, up 17 points; Nifty: 7967.40, up 12 points
Top Gainers:
SBI (3.2%), INFOSYS (1.5%), RIL (1.1%), BAJAJ AUTO (1.0%), L&T (1.0%)
Top Losers:
DR. REDDYS LAB (13.6%), TATA STEEL (2.9%), GAIL (1.8%), M&M (1.0%), ICICI BANK (0.9%)
Markets @ 11:00
Sensex: 26303.91, down 0.29 points; Nifty: 7962.20, up 6 points
Top Gainers:
SBI (2.9%), INFOSYS (1.5%), HDFC (1.2%), L&T (1.2%), VEDANTA (1.2%)
Top Losers:
DR. REDDYS LAB (12.9%), TATA STEEL (2.2%), GAIL (2.0%), TATA MOTORS (1.1%), ICICI BANK (1.0%)
Markets @ 10:00
Sensex: 26314.89, up 11 points; Nifty: 7961.60, up 6 points
Top Gainers:
SBI (1.4%), L&T (0.8%), HDFC (0.8%), INFOSYS (0.8%), TCS (0.6%)
Top Losers:
TATA STEEL (3.7%), VEDANTA (1.8%), GAIL (1.4%), TATA MOTORS (1.3%), ICICI BANK (1.0%)
Markets @ 9:20
NEW DELHI: The S&P BSE Sensex rose over 100 points in morning trade on Friday after starting on a cautious note on Friday, led by gains in Infosys, NTPC, HDFC, RIL and L&T.
The Nifty50 managed to quickly recoup early morning losses to reclaim its crucial psychological level of 8,000, supported by gains in pharma IT, banks, capital goods, consumer durables and power stocks.
The 30-share index was trading at 26,416, up 112 points or 0.43 per cent. It touched a high of 26,422.34 and a low of 26,284.01 in morning trade.
The S&P BSE Midcap Index was up 0.28 per cent and BSE S&P Smallcap Index was trading 0.37 per cent higher.
Tata Steel (down 3.1 per cent), Tata Motors (down 1.4 per cent), Vedanta (down 1.2 per cent), ICICI Bank (down 0.78 per cent), and BHEL (down 0.64 per cent) were among the major Sensex losers.
The Nifty50 also traded in a range but above its crucial psychological level of 7,950.
The broader markets traded mixed with the BSE midcap index trading higher by 0.02 per cent while the BSE smallcap index edging lower by 0.18 per cent.
"Overall markets look decently poised. I, do not think that there is too much downside to the markets from here because lot of pessimism built around the results, corporate results as well as of the Bihar election, in my view has no long-term impact on the markets," said Sandip Sabharwal, asksandipsabharwal.com.
The sentiment on the Street remained negative with six out of the ten BSE stocks trading in the red. The India VIX, also referred to as the fear gauge, slumped 2.65 per cent in trade.
The European markets traded weak tracking similar trends seen in Asian markets. The German DAX was down 0.2 per cent while the French CAC40 was trading lower by 0.65 per cent. The pan-European Euro Stoxx 50 was down 0.35 per cent. Britain's FTSE100 index traded with marginal gains.
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Most other Asian markets traded weak tracking similar trend seen in US markets overnight. Japan's Nikkei closed 0.7 per cent up while the South Korean Kospi ended lower by 0.4 per cent. Hong Kong's Hang Seng index closed lower by 0.9 per cent while mainland China's Shanghai Composite was up 1.9 per cent at close.
Markets @ 3:00
Sensex: 26226.73, down 77 points; Nifty: 7937.90, down 18 points
Top Gainers:
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SBI (3.2%), RIL (1.6%), INFOSYS (1.3%), COAL INDIA (1.1%), L&T (0.8%)
Top Losers:
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DR. REDDYS LAB (14.5%), GAIL (3.2%), VEDANTA (2.6%), TATA STEEL (2.5%), TATA MOTORS (1.6%)
For minute-by-minute market/stock updates, follow our Twitter handle @ETMarkets
WHAT TOP EXPERTS ARE SAYING:
Maintain Outperform on Arvind, cut target to Rs 350 from Rs 360: Credit Suisse
Maintain Sell on Tata Steel, cut target to Rs 170 from Rs 220: CLSA
Maintain Hold on Cipla, set target of Rs 755: Religare
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30-40 point gap down on Nifty50 should be sold into: Sandeep Wagle, Power My WealthHere is a list of top fifteen stocks that are in focus today:
Tata Motors Ltd: The global auto giant is expected to report 64 per cent YoY fall in net profit to Rs 2,020 crore for the quarter ended September 30, compared to Rs 5,670 crore reported in the year-ago period, said the ET Now poll.
Polaris Consulting and Services Ltd: US-based Virtusa agreed to buy majority 53 per cent stake in Chennai-based Polaris Consulting and Services for about Rs 1,173 crore.
ADVERTISEMENT
ONGC: The company is expected to report 14 per cent YoY drop in net profit to Rs 4,660 crore for the quarter ended September 30, compared to Rs 5,440 crore reported in the year-ago period, said an ET Now Poll.Sun TV Ltd: Broadcasting firm Sun TV Network is mulling a buyback of its equity shares and has formed a committee to examine the proposal.
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Tata Steel Ltd: Tata Steel reported a consolidated net profit of Rs. 1528.71 crore for the quarter ended September, compared with Rs. 1254.33 crore in the same quarter last year, helped by sale of non-core stake in Tata Motors and Titan.Cipla Ltd: India's third largest drug maker, Cipla, on Thursday reported a 44% increase in net profit for its second quarter through September.
Clariant Chemicals Ltd: The company reported net profit of Rs 21.45 crore for the quarter ended September 30 on account one-time income from sale of certain assets.
Binani Cement Ltd: Lenders to Binani Cement, part of the Braj Binani Group, are planning to convert a total debt of Rs 3,000 crore in the company to equity, said two people with knowledge of the matter.
Torrent Pharma Ltd: The Pharma company said it has commenced production from its new plant in Gujarat, the first phase of which has come up at an investment of over Rs 650 crore.
BOSCH Ltd: The company is expected to report 19 per cent YoY rise in net profit to Rs 364 crore for the quarter ended September 30, compared to Rs 306 crore reported in the year-ago period, said an ET Now poll.
Aban Offshore Ltd: Offshore drilling contractor Aban Offshore reported 16.33 per cent decline in its consolidated net profit at Rs 124.45 crore for the second quarter ended September 30.
Castrol India Ltd: The company reported a 21.5 per cent rise in the September quarter net profit to Rs 143.2 crore. The lubricant maker had reported a net profit of Rs 117.9 crore in July-September 2014 quarter.
Kalpataru Power Transmission Ltd: Engineering firm Kalpataru Power Transmission (KPTL) today reported 3.9 per cent drop in standalone net profit at Rs 41.02 crore for the quarter ended September 30, 2015.
GTL Infrastructure Ltd: Telecom tower firm GTL Infrastructure reported widening of net loss at Rs 167.83 crore for the quarter ended September 30, 2015.
JK Paper Ltd: The company reported a standalone net profit of Rs 19.81 crore for the second quarter ended September 30, on increased volume, effective utilisation of raw materials and uptick in sales of copier papers.
MARKETS THROUGH THE DAY:
Markets @ 2:00
Sensex: 26250.43, down 53 points; Nifty: 7941.00, down 14 points
Top Gainers:
SBI (3.5%), RIL (1.5%), INFOSYS (1.3%), ONGC (1.1%), L&T (0.9%)
Top Losers:
DR. REDDYS LAB (14.1%), TATA STEEL (2.8%), M&M (2.8%), GAIL (2.6%), BHEL (2.5%)
Markets @ 01:00
Sensex: 26288.64, down 15 points; Nifty: 7956.80, up 1 point
Top Gainers:
SBI (2.6%), INFOSYS LTD (1.7%), RELIANCE IND. (1.6%), ONGC (1.4%), BAJAJ AUTO (1.1%)
Top Losers:
DR. REDDYS LAB (13.9%), TATA STEEL (3.0%), GAIL (1.7%), BHEL (1.3%), M&M (1.1%)
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Markets @ 12:00
Sensex: 26321.38, up 17 points; Nifty: 7967.40, up 12 points
Top Gainers:
SBI (3.2%), INFOSYS (1.5%), RIL (1.1%), BAJAJ AUTO (1.0%), L&T (1.0%)
Top Losers:
DR. REDDYS LAB (13.6%), TATA STEEL (2.9%), GAIL (1.8%), M&M (1.0%), ICICI BANK (0.9%)
Markets @ 11:00
Sensex: 26303.91, down 0.29 points; Nifty: 7962.20, up 6 points
Top Gainers:
SBI (2.9%), INFOSYS (1.5%), HDFC (1.2%), L&T (1.2%), VEDANTA (1.2%)
Top Losers:
DR. REDDYS LAB (12.9%), TATA STEEL (2.2%), GAIL (2.0%), TATA MOTORS (1.1%), ICICI BANK (1.0%)
Markets @ 10:00
Sensex: 26314.89, up 11 points; Nifty: 7961.60, up 6 points
Top Gainers:
SBI (1.4%), L&T (0.8%), HDFC (0.8%), INFOSYS (0.8%), TCS (0.6%)
Top Losers:
TATA STEEL (3.7%), VEDANTA (1.8%), GAIL (1.4%), TATA MOTORS (1.3%), ICICI BANK (1.0%)
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Markets @ 9:20
NEW DELHI: The S&P BSE Sensex rose over 100 points in morning trade on Friday after starting on a cautious note on Friday, led by gains in Infosys, NTPC, HDFC, RIL and L&T.
The Nifty50 managed to quickly recoup early morning losses to reclaim its crucial psychological level of 8,000, supported by gains in pharma IT, banks, capital goods, consumer durables and power stocks.
The 30-share index was trading at 26,416, up 112 points or 0.43 per cent. It touched a high of 26,422.34 and a low of 26,284.01 in morning trade.
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The Nifty50 was at 8,000, up 44 points or 0.56 per cent. It touched a high of 8,000.50 and a low of 7,950.50 in the first 30 minutes of trade.The S&P BSE Midcap Index was up 0.28 per cent and BSE S&P Smallcap Index was trading 0.37 per cent higher.
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NTPC (up 1.7 per cent), Cipla (up 1.4 per cent), Infosys (up 1.1 per cent), and Bajaj Auto (up 1.05 per cent) were among the major Sensex gainers.Tata Steel (down 3.1 per cent), Tata Motors (down 1.4 per cent), Vedanta (down 1.2 per cent), ICICI Bank (down 0.78 per cent), and BHEL (down 0.64 per cent) were among the major Sensex losers.
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