 "Broader markets outperform benchmarks; RIL pares gains")
Key benchmark indices continued to trade with gains with broader markets outperforming at this hour.
The Bombay Stock Exchange's benchmark index Sensex was up 67 points or 0.30% at 22,695 levels while 50-stock index of the National Stock Exchange--Nifty was up 13.25b points or 0.2% at 6,788 levels.
Among broader markets, BSE mid-cap and small-cap indices were up between 0.8 - 1%, significantly outperforming the benchmark Sensex's 0.3% upmove.
Sentiment got a boost after provisional data from exchanges showed foreign funds were net buyers of Indian stocks on Thursday. Foreign institutional investors (FIIs) bought shares worth a net Rs 433.40 crore on Thursday. Market was closed on Friday on account of Good Friday.
The market is expected to remain volatile this week as traders roll over positions in the futures & options (F&O) segment from the near month April 2014 series to May 2014 series. The April 2014 F&O contracts expire on Wednesday. The stock market remains closed on Thursday, on account of voting in Mumbai.
Infrastructure & engineering major Larsen & Toubro (L&T) alongwith automobile manufacturer Mahindra & Mahindra (M&M), which are up 2-5-2.6%, pulled Sensex almost 46 points higher. Axis Bank, State Bank of India (SBI) and Sesa Sterlite are other top gainers.
Oil & gas behemoth Reliance Industries' (RIL's) stock pared entire intraday gains in choppy trades after announcing its Q4 result on 18 April 2014, when the stock market was closed on account of Good Friday.
Among stocks are in the spotlight today, Natco Pharma surged 8% to Rs 769 after the company said the US Supreme Court on Friday rejected Teva’s application for an injunction seeking to prevent the launch of generic version of Copaxone pending the Supreme Court’s decision on Teva’s appeal.
Liberty Shoes rallied 14% to Rs 188 after reporting an over four-fold jump in its March quarter net profit at Rs 4.27 crore, due to higher sales. The footwear maker had posted a net profit of Rs 0.97 crore in the same quarter last fiscal.
Shasun Pharmaceuticals is locked in 20% upper circuit at Rs 105 on the NSE after the company said it is planning to raise fund by issuing equity shares/warrants to promoters of the company on preferential basis.
Hindustan Unilever (HUL) fell in volatile trade. Capital goods stocks were mixed. Crompton Greaves hit 52-week high. Shares of Adani group companies gained on renewed buying with Adani Ports & Special Economic Zone hitting 52-week high.
Rupee
The rupee is trading at 60.33 versus its Thursday's close of 60.29/30, in cautious trading as several markets remained closed for the Easter holiday. The dollar edged higher versus the yen on Monday, though a tense situation in Ukraine was likely to keep traders on their toes, with some markets still closed for the Easter holiday.
World markets
Asian markets were trading with marginal gains with the Nikkei up 0.7% while Shanghai Composite was trading nearly unchanged. Straits Times was trading with marginal gains. Hong Kong market was closed on account of Easter holidays.
US stocks ended mixed on Thursday amid encouraging jobs data and healthy earnings from large corporations including General Electric. The claims for unemployment benefits rose to 2,000 to a seasonally adjusted 304,000 in the week to April 12, the US Labour Department said. Markets were closed on Friday on account of Good Friday.
The Bombay Stock Exchange's benchmark index Sensex was up 67 points or 0.30% at 22,695 levels while 50-stock index of the National Stock Exchange--Nifty was up 13.25b points or 0.2% at 6,788 levels.
Among broader markets, BSE mid-cap and small-cap indices were up between 0.8 - 1%, significantly outperforming the benchmark Sensex's 0.3% upmove.
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The market breadth, indicating the overall health of the market, was strong with 1477 advancing while 836 declined.
Sentiment got a boost after provisional data from exchanges showed foreign funds were net buyers of Indian stocks on Thursday. Foreign institutional investors (FIIs) bought shares worth a net Rs 433.40 crore on Thursday. Market was closed on Friday on account of Good Friday.
The market is expected to remain volatile this week as traders roll over positions in the futures & options (F&O) segment from the near month April 2014 series to May 2014 series. The April 2014 F&O contracts expire on Wednesday. The stock market remains closed on Thursday, on account of voting in Mumbai.
Infrastructure & engineering major Larsen & Toubro (L&T) alongwith automobile manufacturer Mahindra & Mahindra (M&M), which are up 2-5-2.6%, pulled Sensex almost 46 points higher. Axis Bank, State Bank of India (SBI) and Sesa Sterlite are other top gainers.
Oil & gas behemoth Reliance Industries' (RIL's) stock pared entire intraday gains in choppy trades after announcing its Q4 result on 18 April 2014, when the stock market was closed on account of Good Friday.
Among stocks are in the spotlight today, Natco Pharma surged 8% to Rs 769 after the company said the US Supreme Court on Friday rejected Teva’s application for an injunction seeking to prevent the launch of generic version of Copaxone pending the Supreme Court’s decision on Teva’s appeal.
Liberty Shoes rallied 14% to Rs 188 after reporting an over four-fold jump in its March quarter net profit at Rs 4.27 crore, due to higher sales. The footwear maker had posted a net profit of Rs 0.97 crore in the same quarter last fiscal.
Shasun Pharmaceuticals is locked in 20% upper circuit at Rs 105 on the NSE after the company said it is planning to raise fund by issuing equity shares/warrants to promoters of the company on preferential basis.
Hindustan Unilever (HUL) fell in volatile trade. Capital goods stocks were mixed. Crompton Greaves hit 52-week high. Shares of Adani group companies gained on renewed buying with Adani Ports & Special Economic Zone hitting 52-week high.
Rupee
The rupee is trading at 60.33 versus its Thursday's close of 60.29/30, in cautious trading as several markets remained closed for the Easter holiday. The dollar edged higher versus the yen on Monday, though a tense situation in Ukraine was likely to keep traders on their toes, with some markets still closed for the Easter holiday.
World markets
Asian markets were trading with marginal gains with the Nikkei up 0.7% while Shanghai Composite was trading nearly unchanged. Straits Times was trading with marginal gains. Hong Kong market was closed on account of Easter holidays.
US stocks ended mixed on Thursday amid encouraging jobs data and healthy earnings from large corporations including General Electric. The claims for unemployment benefits rose to 2,000 to a seasonally adjusted 304,000 in the week to April 12, the US Labour Department said. Markets were closed on Friday on account of Good Friday.