Sensex ends 182 points higher, Nifty50 above 7,850

The domestic equity market traded with smart gains on Thursday bucking the muted trend seen in other Asian and European markets. Ahead of the expiry of November F&O series, which expired at the end of the trading session, investors initiated fresh positions on the benchmark indices.

The S&P BSE Sensex ended the day with gains of 182 points, or 0.71 per cent, at 25,958 while the 50-stock barometer Nifty50 closed at 7,884, up 52 points, or 0.6 per cent. Tata Motors and Sun Pharma were the top gainers on the BSE benchmark, up 5.6 and 4 per cent, respectively.

Shares of Dr Reddy's Labs closed with losses of 8 per cent after the USFDA suggested that future approvals of its generic products may be under threat if the company does not comply with safety regulations.

Shares of Sun Pharma surged 4 per cent at close, snapping a four-day losing streak, after the drugmaker informed BSE that its subsidiaries have dropped a plan to invest in a wind energy project in the US.

BUZZING STOCKS:

Dr Reddy's Laboratories slumped 10 per cent in trade.

DLF surged over 5 per cent in trade.

Natco Pharma surged over 13 per cent in trade.

Videocon climbed over 5 per cent in trade.

Sun Pharma surged over 4 per cent in trade.

Tata Motors was up about 2 per cent in trade.

Opto Circuit rallied over 9 per cent in trade.

Shree Renuka Sugars dipped about 3 per cent in trade.

SPARC gained over 5 per cent in trade.

Sensex & Nifty consolidate ; HUL, ONGC, Coal India Are Gainers

Free nifty tips - The market is still down as the Sensex is up 26.28 points or 0.1 percent at 25845.62. The Nifty is up 3.65 points at 7852.90. About 1327 shares have advanced, 845 shares declined, and 164 shares are unchanged.

ONGC, HDFC, HUL, Coal India and Reliance are top gainers while Maruti Suzuki, Sun Pharma, Infosys, Tata Motors and L&T are losers.

Equity benchmarks continued to consolidate ahead of expiry of November futures & options contracts due on Thursday. The broader markets maintained outperformance for the second consecutive session today.

The 30-share BSE Sensex rose 30.35 points to 25849.69 and the 50-share NSE Nifty advanced 5.35 points to 7854.60. The market breadth was positive as about two shares advanced for every share declining on the Bombay Stock Exchange.

HDFC was the leading contributor to Sensex's gains, up 1.6 percent followed by Reliance Industries, HDFC Bank, Axis Bank, ONGC, HUL and Lupin with 0.5-1 percent. Infosys, Maruti Suzuki, Tata Motors, ITC, Sun Pharma, TCS and ICICI Bank declined 0.3-1 percent.

Sensex, Nifty, Midcap under pressure; bank, oil stocks drag

The Indian equity market is down in early trade on the back of a weak handover from US and China. Both the indices are down 1 percent but this is just the market getting hyper, says Samir Arora of Helios Capital.

The market remained under pressure in morning trade with the Sensex falling 370.51 points or 1.44 percent to 25349.07, dragged by banking & financials, auto, oil, capital goods and FMCG stocks. The Nifty continued to hover around 7700, down 118.45 points or 1.51 percent to 7700.15.

The broader markets, too, plunged 1.5 percent as about 1370 shares have declined against 355 shares advanced on the Bombay Stock Exchange.

At the moment, 7500 looks like the Nifty bottom, though one does not know how market will behave in the face of volatility, says market expert Ambareesh Baliga.

At the same time if one sees to 15 percent gains during a bounce, one must book out, says Baliga. "Then sit on cash until there is a crack again." He expects the bull run to be steady after 2-3 months depending on Fed statement.

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Choppy Sensex, Nifty under pressure; Europe extends losses

New Listing  :

State Bank of India, ICICI Bank, HDFC, Axis Bank, Bharti Airtel, Dr Reddy's Labs, Cipla, Vedanta and Tata Steel dropped 1-3 percent. BHEL slipped 2.5 percent after Goldman Sachs downgraded stock to sell from neutral earlier with a target of Rs 207 per share as it believes that the new ordering momentum is unsustainable.


Gold Update :

 Gold edged up today after falling the most in five weeks the session before as global equities were revived after China cut interest rates and bank reserve requirements to support a flagging economy. But China's move appears to have only boosted equities temporarily, with US stock futures resuming their descent and Asian shares slightly lower. Further losses in equities could switch appetite back to safe-haven assets such as gold.


Market Check :

The market slipped again amid consolidation in afternoon trade, tracking further fall in European markets. France's CAC, Germany's DAX and Britain's FTSE extended losses, losing 2-2.7 percent. The 30-share BSE Sensex dropped 122.05 points or 0.47 percent to 25910.33 and the 50-share NSE Nifty slipped 24.75 points or 0.31 percent to 7855.95. The BSE Midcap also wiped its gains, trading flat. The rupee, too, depreciated by 20 paise to 66.30 against US dollar.

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Sensex is up 173.96 points or 0.6 percent at 28410.35

The market is surging ahead after initial hiccup. The Sensex is up 173.96 points or 0.6 percent at 28410.35, and the Nifty is up 54.70 points or 0.6 percent at 8619.30. About 1340 shares have advanced, 601 shares declined, and 105 shares are unchanged. HDFC, Dr Reddy's Labs, TCS, SBI and ICICI Bank are top gainers in the Sensex. Among the losers are Tata Motors, ONGC, NTPC, Sun Pharma and M&M. 9:45 am Houseview: Maintaining a buy rating on Tata Motors, CLSA says that While FY16 will be a weak year, FY17 should see a strong rebound in JLR’s volumes and profits as the ‘transition effect’ fades and platform rationalisation benefits start flowing through. It has set a target price of Rs 550 per share but slashed FY16-18 earnings per share (EPS) by 9-19 percent. It says that JLR's FY16 margins will be under pressure due to lower share of China in UK volumes, weaker product-mix, new model launch costs and China pricing pressures. Margins are expected to improve in FY17 on platform rationalisation benefits, weak commodity price, operating leverage benefits from higher volumes in engine plant and lower new model launch spend. 9:30 am FII view: Rakesh Arora, Macquarie said after a smart rally, the market is looking for further triggers. "RBI kept interest rates unchanged which somewhat dampened spirits. The ongoing Parliament tussle is also not adding to confidence," he added. According to him, on a positive note, monsoon is on track to be normal and India may be in for a likely bumper crop. Arora said earnings season, too, is delivering on muted expectations. Overall, there's nowhere to go, except to follow liquidity, he feels. Don't miss: Global dairy prices at a 13-year low, NZ PM sees perfect storm brewing The market has kick-started the week on flat note. The Sensex is down 5.02 points at 28231.37 and the Nifty is up 2.85 points at 8567.45. About 677 shares have advanced, 306 shares declined, and 78 shares are unchanged. Hindalco, GAIL, Dr Reddy's Labs, Vedanta and Tata Steel are top gainers in the Sensex. Tata Motors loses 1 percent while BHEL, ITC, ICICI Bank and L&T are among laggards. 

 

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