 "Markets firm; metal, banks gain")
Markets continue to hold on to its early gains with metal and banking stocks leading gains. At 1045 hrs, the Sensex was up 67 points at 22,695 and the Nifty was up 18 points at 6,797.
In individual names, 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.
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(Updated ta 1045 hrs)
Markets started the week on a positive note with the Nifty gaining past 6,800 levels in opening deals. At 0916 hrs, the Sensex was up 78 points at 22,707 and the Nifty advanced 25 points to trade at 6,804.
The opening gains were led by index heavyweights like Reliance Industries, ITC and ICICI Bank.
Broader markets started on a strong note with the smallcap index up 1% and the midcap index gained 0.6%, both outperforming the BSE benchmark index up 0.3%.
Global 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 Dow Jones ended down 0.1% at 16,408.54, the broader S&P 500 gained 0.1% at 1,864.85 and the tech laden Nasdaq ended up 0.2% at 4,095.52.
Sector & Stocks
IT and Consumer Durables down 0.1 - 0.2%along with the Realty index flat with a negative bias were the only indices in red.
Bankex, Capital Goods, Power and Metal indices up 0.5-0.7% were the notable sectoral gainers.
Wipro down 5% was the top loser among Sensex-30. The stock dipped after company's information technology revenue guidance for the first quarter (Q1FY2015) of current fiscal was seen below estimates by some analysts.
Mahindra & Mahindra, Hindustan Unilever and Hero MotoCorp down 0.1-0.2% were the only other names in red.
Meanwile, Sesa Sterlite, BHEL, SBI, Hindalco, Bharti Airtel, Axis Bank, NTPC, Cipla up 1-2% were the major gainers.
L&T, ICICI Bank up 0.2-0.6% were some of the other notable names in green.
After gaining nearly a percent in opening trades on account of improvement in profit from the refining and petrochemical segments, Reliance Industries saw some profit booking and stock is up 0.1%.
The market breadth was positive on BSE. 971 stocks advanced while 325 stocks declined.
In individual names, 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.
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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.
_____________________
(Updated ta 1045 hrs)
Markets started the week on a positive note with the Nifty gaining past 6,800 levels in opening deals. At 0916 hrs, the Sensex was up 78 points at 22,707 and the Nifty advanced 25 points to trade at 6,804.
The opening gains were led by index heavyweights like Reliance Industries, ITC and ICICI Bank.
Broader markets started on a strong note with the smallcap index up 1% and the midcap index gained 0.6%, both outperforming the BSE benchmark index up 0.3%.
Global 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 Dow Jones ended down 0.1% at 16,408.54, the broader S&P 500 gained 0.1% at 1,864.85 and the tech laden Nasdaq ended up 0.2% at 4,095.52.
Sector & Stocks
IT and Consumer Durables down 0.1 - 0.2%along with the Realty index flat with a negative bias were the only indices in red.
Bankex, Capital Goods, Power and Metal indices up 0.5-0.7% were the notable sectoral gainers.
Wipro down 5% was the top loser among Sensex-30. The stock dipped after company's information technology revenue guidance for the first quarter (Q1FY2015) of current fiscal was seen below estimates by some analysts.
Mahindra & Mahindra, Hindustan Unilever and Hero MotoCorp down 0.1-0.2% were the only other names in red.
Meanwile, Sesa Sterlite, BHEL, SBI, Hindalco, Bharti Airtel, Axis Bank, NTPC, Cipla up 1-2% were the major gainers.
L&T, ICICI Bank up 0.2-0.6% were some of the other notable names in green.
After gaining nearly a percent in opening trades on account of improvement in profit from the refining and petrochemical segments, Reliance Industries saw some profit booking and stock is up 0.1%.
The market breadth was positive on BSE. 971 stocks advanced while 325 stocks declined.