 "Markets end at five-week highs; Sensex ends above 29,000")
Markets ended at five-week highs on Monday led by select index heavyweights while capital goods shares gained after encouraging February IIP data.
The 30-share Sensex provisionally ended up 167 points at 29,046 and the 50-share Nifty ended up 46 points at 8,826.
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(Updated at 2:35PM)
Benchmark share indices continued to remain volatile even as the broader market outperformed on the back of renewed buying interest. Further, the government will release data for March consumer price inflation later today.
At 2:35PM, the 30-share Sensex was up 143 points at 29,022 and the 50-share Nifty was up 43 points at 8,823.
In the broader markets, the BSE Mid-cap index was up 0.5% and the Small-cap index was up 1%.
Foreign institutional investors were net buyers in equities to the tune of Rs 363 crore on Friday, as per provisional stock exchange data.
Consumer inflation probably edged up in March for the fourth straight month from a record low in November, as heavy rains drove up food prices. Consumer prices likely rose to 5.5% in March from a year earlier compared with February's 5.37%, according to a Reuters' poll of economists.
SECTORS & STOCKS
Except Auto and Metal all other sectoral indices on the BSE were trading in positive zone. Consumer Durables and Capital Goods indices were among the top gainers.
Reliance Industries was up 1.6%. The stock has extended gains for the fifth straight session on media reports that the company has discovered massive gas reserves at MJ-1 block in its KG-D6 basin.
In the capital goods space, L&T was up 1.5% aftter it announced the signing of MoU with France-based AREVA for cooperation to maximise localization for the EPR Nuclear Power Plant coming up at Jaitapur in Maharashtra.
BHEL rose over 2% after the company said it has commissioned second unit of Dainik Bhaskar Power Ltd's 2x600MW thermal power project located at Dhabra in Jangir Champa District of Chhattisgarh.
Mortgage lender HDFC was up 1%. The company got RBI clearance to raise up to USD 500 million (about Rs 3,100 crore) as Exteral Commercial Borrowing (ECB) to fund its business growth. It has also cut home loan rates by up to 20 basis points to 9.9%
ONGC's acquisition of 10 per cent stake in a giant Mozambique gas field had helped the seller make a neat profit of $ 1.5 billion or over 62 per cent of the purchase price. The stock is up 0.4%.
FMCG majors ITC and Hindustan Unilever were up 1-1.5% each ahead of the consumer price inflation data.
GAIL was down 2.8% after Credit Suisse downgraded the stock to “underperform” from “neutral” saying that India’s LNG demand has fallen with a drop in oil prices, which has hit GAIL’s gas trading business.
Sun Pharma has gained over 1%. Sun Pharma board approved allotment of equity shares to shareholders of erstwhile Ranbaxy Labs. However, Dr Reddys Labs was down 1% while Cipla gained 0.1%.
Metal shares remained subdued after data showed that China's imports contracted by 12.7% in March 2015 compared to the same month last year. Hindalco, Sesa Sterlite were down over 1.5% each.
In the mid-cap space, Sequent Scientific has surged 16% after the company said it has allotted 1.1 million warrants at a price of Rs 475 per warrant convertible into the same number of equity shares to promoter group entities on preferential basis.
Indag Rubber was up 20% after the company reported a robust 50% year-on- year (yoy) jump in its standalone net profit at Rs 9.48 crore for the fourth quarter ended March 31, 2015 (Q4).
The market breadth on the BSE was positive with 1,670 gainers and 1,040 losers.
The 30-share Sensex provisionally ended up 167 points at 29,046 and the 50-share Nifty ended up 46 points at 8,826.
______________________
(Updated at 2:35PM)
Benchmark share indices continued to remain volatile even as the broader market outperformed on the back of renewed buying interest. Further, the government will release data for March consumer price inflation later today.
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At 2:35PM, the 30-share Sensex was up 143 points at 29,022 and the 50-share Nifty was up 43 points at 8,823.
In the broader markets, the BSE Mid-cap index was up 0.5% and the Small-cap index was up 1%.
Foreign institutional investors were net buyers in equities to the tune of Rs 363 crore on Friday, as per provisional stock exchange data.
Consumer inflation probably edged up in March for the fourth straight month from a record low in November, as heavy rains drove up food prices. Consumer prices likely rose to 5.5% in March from a year earlier compared with February's 5.37%, according to a Reuters' poll of economists.
SECTORS & STOCKS
Except Auto and Metal all other sectoral indices on the BSE were trading in positive zone. Consumer Durables and Capital Goods indices were among the top gainers.
Reliance Industries was up 1.6%. The stock has extended gains for the fifth straight session on media reports that the company has discovered massive gas reserves at MJ-1 block in its KG-D6 basin.
In the capital goods space, L&T was up 1.5% aftter it announced the signing of MoU with France-based AREVA for cooperation to maximise localization for the EPR Nuclear Power Plant coming up at Jaitapur in Maharashtra.
BHEL rose over 2% after the company said it has commissioned second unit of Dainik Bhaskar Power Ltd's 2x600MW thermal power project located at Dhabra in Jangir Champa District of Chhattisgarh.
Mortgage lender HDFC was up 1%. The company got RBI clearance to raise up to USD 500 million (about Rs 3,100 crore) as Exteral Commercial Borrowing (ECB) to fund its business growth. It has also cut home loan rates by up to 20 basis points to 9.9%
ONGC's acquisition of 10 per cent stake in a giant Mozambique gas field had helped the seller make a neat profit of $ 1.5 billion or over 62 per cent of the purchase price. The stock is up 0.4%.
FMCG majors ITC and Hindustan Unilever were up 1-1.5% each ahead of the consumer price inflation data.
GAIL was down 2.8% after Credit Suisse downgraded the stock to “underperform” from “neutral” saying that India’s LNG demand has fallen with a drop in oil prices, which has hit GAIL’s gas trading business.
Sun Pharma has gained over 1%. Sun Pharma board approved allotment of equity shares to shareholders of erstwhile Ranbaxy Labs. However, Dr Reddys Labs was down 1% while Cipla gained 0.1%.
Metal shares remained subdued after data showed that China's imports contracted by 12.7% in March 2015 compared to the same month last year. Hindalco, Sesa Sterlite were down over 1.5% each.
In the mid-cap space, Sequent Scientific has surged 16% after the company said it has allotted 1.1 million warrants at a price of Rs 475 per warrant convertible into the same number of equity shares to promoter group entities on preferential basis.
Indag Rubber was up 20% after the company reported a robust 50% year-on- year (yoy) jump in its standalone net profit at Rs 9.48 crore for the fourth quarter ended March 31, 2015 (Q4).
The market breadth on the BSE was positive with 1,670 gainers and 1,040 losers.