 "Markets end flat; ITC gains over 4%")
Markets rebounded from their day's lows after hitting record highs earlier on renewed buying in defensive shares. Gains in FMCG and pharma scrips lifted the markets, otherwise weighed down by weakness in index heavyweights like ONGC, L&T, Tata Motors, ICIC Bank and RIL.
At close, the Sensex was up six points at 27,875 and the Nifty added seven points to end today’s trade at 8,344.
Earlier in the day, the Nifty has touched a record high of 8,383, only to be weighed down by profit taking at higher levels.
Sectors & Stocks
BSE Capital Goods, Bankex, Auto, IT, Metal, Realty, Oil and Gas indices were the top losers down 0.1-1%. Meanwhile, defensives pockets like FMCG index up nearly 3% was the top sectoral gainer along with Healthcare index was up 0.5%.
Consumer Durables and Power indices up 1% were the other sectoral gainers on BSE.
Larsen and Toubro down 2% was one of the top losers among Sensex stocks on reports that the company management has said it might miss the annual revenue and margin forecast owing to delays in projects and problems in execution of hydrocarbon projects. Meanwhile, BHEL gained 0.8%.
In the oil and gas space, Reliance Industries, GAIL and ONGC were down 1-3.6%.
Bank shares were largely in red after gaining last week. ICICI Bank, Axis Bank and SBI were down 0.3-1.8%.
Auto shares continued to remain weak on the back of sluggish October sales growth. Tata Motors, M&M were down 0.7-2.3% while Maruti Suzuki and Bajaj Auto recovered from day lows and were up 0.7% and 0.3% respectively.
Metal names were largely in red. Tata Steel, Sesa Sterlite and Hindalco were down 0.2-2.4%.
FMCG majors ITC and HUL gained 4.3% and 1.2% respectively. ITC was among the top Sensex gainer of the day.
In the pharma segment, Sun Pharma was up 2% after its US subsidiary, Taro Pharmaceutical Industries, reported a strong 49% year on year growth in net profit to $143.4 million for the quarter ended September 2014. Dr Reddy's Labs was up 1.3%.
Shares of railway-related companies were in spotlight today after Suresh Prabhu replaced D V Sadananda Gowda as railway minister.
Texmaco Rail & Engineering, Titagarh Wagons, Kalindee Rail Nirman (Engineers), Kernex Microsystems (India) and Stone India moved up 2.5-9% on the BSE.
Lovable Lingerie was locked at upper circuit at Rs 440, after the company said it has entered into a brand sublicensing agreement with “Global Merchandising”, an overseas company of Adidas Group.
Gujarat State Petronet was nearly 3% at Rs 100, after hitting a 52-week high on the BSE, as net profit for the secong quarter ended September 2014 surged nearly 50% to Rs 169.50 crore on the back of lower finance costs.
Engineers India tanked 12.6% to Rs 236 after reporting a sharp 47% year-on-year (yoy) drop in net profit at Rs 58.78 crore for the second quarter ended September 2014 (Q2), due to lower operational income.
Ucal Fuel Systems was locked in upper circuit of 20% at Rs 101, also its 52-week high on NSE, after reporting over four-fold jump in net profit at Rs 8.40 crore for the second quarter ended September 30, 2014 (Q2), on back of strong operational performance.
Avanti Feeds was up 4% to Rs 1,958 after reporting a robust 84% year-on-year (yoy) jump in standalone net profit at Rs 34.18 crore for the quarter ended September 30, 2014 (Q2), on back of strong operational income.
Jet Airways (India) rallied nearly 7% to Rs 268 after reporting a net profit of Rs 69.82 crore for the quarter ended September 2014 (Q2) on the back of gains from the sale of its frequent-flyer programme (FFP) and higher other income.
The market breadth was marginally negative on BSE. 1,510 stocks declined while 1,504 stocks advanced.
Global Markets
Asian shares gained on Monday after US jobs data pointed to solid economic growth, with Hong Kong leading the gains after regulators set a date for a long-awaited trading link between the Hong Kong and Shanghai stock exchanges to open.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.2%, led by 1.8% gains in Hong Kong.
Japan's Nikkei bucked the regional trend, falling 0.6% as the yen rebounded on profit-taking in the dollar following the U.S. payrolls data.
In Europe, the major markets started in green. CAC, DAX and FTSE gained 0.1-0.6%.
At close, the Sensex was up six points at 27,875 and the Nifty added seven points to end today’s trade at 8,344.
Earlier in the day, the Nifty has touched a record high of 8,383, only to be weighed down by profit taking at higher levels.
More From This Section
The broader markers were flat through the day with the mid and smallcap indices marginally in red in intra-day trades. At close, the mid and smallcap indices were up 0.1% each, as compared to the 0.02% gain seen on the BSE benchmark index.
Sectors & Stocks
BSE Capital Goods, Bankex, Auto, IT, Metal, Realty, Oil and Gas indices were the top losers down 0.1-1%. Meanwhile, defensives pockets like FMCG index up nearly 3% was the top sectoral gainer along with Healthcare index was up 0.5%.
Consumer Durables and Power indices up 1% were the other sectoral gainers on BSE.
Larsen and Toubro down 2% was one of the top losers among Sensex stocks on reports that the company management has said it might miss the annual revenue and margin forecast owing to delays in projects and problems in execution of hydrocarbon projects. Meanwhile, BHEL gained 0.8%.
In the oil and gas space, Reliance Industries, GAIL and ONGC were down 1-3.6%.
Bank shares were largely in red after gaining last week. ICICI Bank, Axis Bank and SBI were down 0.3-1.8%.
Auto shares continued to remain weak on the back of sluggish October sales growth. Tata Motors, M&M were down 0.7-2.3% while Maruti Suzuki and Bajaj Auto recovered from day lows and were up 0.7% and 0.3% respectively.
Metal names were largely in red. Tata Steel, Sesa Sterlite and Hindalco were down 0.2-2.4%.
FMCG majors ITC and HUL gained 4.3% and 1.2% respectively. ITC was among the top Sensex gainer of the day.
In the pharma segment, Sun Pharma was up 2% after its US subsidiary, Taro Pharmaceutical Industries, reported a strong 49% year on year growth in net profit to $143.4 million for the quarter ended September 2014. Dr Reddy's Labs was up 1.3%.
Shares of railway-related companies were in spotlight today after Suresh Prabhu replaced D V Sadananda Gowda as railway minister.
Texmaco Rail & Engineering, Titagarh Wagons, Kalindee Rail Nirman (Engineers), Kernex Microsystems (India) and Stone India moved up 2.5-9% on the BSE.
Lovable Lingerie was locked at upper circuit at Rs 440, after the company said it has entered into a brand sublicensing agreement with “Global Merchandising”, an overseas company of Adidas Group.
Gujarat State Petronet was nearly 3% at Rs 100, after hitting a 52-week high on the BSE, as net profit for the secong quarter ended September 2014 surged nearly 50% to Rs 169.50 crore on the back of lower finance costs.
Engineers India tanked 12.6% to Rs 236 after reporting a sharp 47% year-on-year (yoy) drop in net profit at Rs 58.78 crore for the second quarter ended September 2014 (Q2), due to lower operational income.
Ucal Fuel Systems was locked in upper circuit of 20% at Rs 101, also its 52-week high on NSE, after reporting over four-fold jump in net profit at Rs 8.40 crore for the second quarter ended September 30, 2014 (Q2), on back of strong operational performance.
Avanti Feeds was up 4% to Rs 1,958 after reporting a robust 84% year-on-year (yoy) jump in standalone net profit at Rs 34.18 crore for the quarter ended September 30, 2014 (Q2), on back of strong operational income.
Jet Airways (India) rallied nearly 7% to Rs 268 after reporting a net profit of Rs 69.82 crore for the quarter ended September 2014 (Q2) on the back of gains from the sale of its frequent-flyer programme (FFP) and higher other income.
The market breadth was marginally negative on BSE. 1,510 stocks declined while 1,504 stocks advanced.
Global Markets
Asian shares gained on Monday after US jobs data pointed to solid economic growth, with Hong Kong leading the gains after regulators set a date for a long-awaited trading link between the Hong Kong and Shanghai stock exchanges to open.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.2%, led by 1.8% gains in Hong Kong.
Japan's Nikkei bucked the regional trend, falling 0.6% as the yen rebounded on profit-taking in the dollar following the U.S. payrolls data.
In Europe, the major markets started in green. CAC, DAX and FTSE gained 0.1-0.6%.