 "Nifty below 8,100; Tata Motors up 5%, GAIL dips on weak Q2 nos")
Benchmark indices continue to trade higher led by buying demand among auto, metal and HDFC group shares.
By 10:25 am, the Sensex was higher by 118 points at 26,708 and the Nifty gained 25 points at 8,085.
The top gainers from the Sensex pack are Tata Motors, Bajaj Auto, Hindalco, Hero Moto, Vedanta and M&M, all surging between 1-6%.
On the losing side, GAIL, TCS, ICICI Bank, Axis Bank and Lupin have slipped between 0.5-1%.
***********************************
Updated at 9:30 am
Markets are trading higher in opening trades tracking positive global cues along with buying among auto, financials and metal shares leading the gains.
By 9:30, the Sensex was higher by 148 points at 26,738 and the Nifty gained 37 points at 8,098.
The broader markets are trading positive in line with the benchmark indices- BSE Midcap and Smallcap indices are up 0.5% each. Market breadth is positive with 1,043 gainers and 321 losers on the BSE.
On Tuesday markets snapped six day losing streak and ended marginally positive, amid volatile trades, led by oil and IT sectors. However, the upside was capped due to mild selling among banks, capital goods and consumer durables sectors.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 449.84 crore yesterday as per provisional data released by the stock exchanges.
On macro front, the Nikkei India Service PMI data for the month of October 2015 is due today. The seasonally adjusted Nikkei Services Business Activity Index fell to 51.5 in September 2015 from 52.6 in August 2015.
In the currency front, the rupee has appreciated by 11 paise to 65.53 against the dollar in early trade today on selling of the American currency by exporters and banks.
MOTILAL OSWAL's MARKET OUTLOOK
The occurence of a 'Doji' re-confirms the immediate support for Nifty at 8,000, below which 7,700-7,800 could be an immediate movement. Pullback if any will make the reward to risk lucrative for selling with a stop above 8,450. Mixed set of cues from Nifty futures reduces conviction on directional cues from futures. Still heavy 8000 Put indicates 8,000 requires to be broken for fresh downside up to 7,800 to open up.
Q2 EARNINGS
Ashok Leyland, Engineers India, Marico, Neyveli Lignite Corporation, Procter & Gamble Hygiene & Health Care and Reliance Infrastructure will announce their second quarter earnings today.
GLOBAL MARKETS
Asian shares rose on Wednesday, taking early cues from overnight Wall Street gains, while investors' sharper risk appetite lifted US debt yields and supported the dollar.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.4%. Australian shares surged 1.3%.
Large tech and energy sector gains drove US stocks higher on Tuesday, with an index of 100 major Nasdaq companies finishing at a record closing high.
Investor appetite for riskier assets drove safe-haven US Treasury yields higher, with the benchmark 10-year note yield climbing to a 1-1/2-month high of 2.225% overnight.
Higher US debt yields supported the dollar, which climbed to a 4-day high of 121.06 yen . The euro was flat at $1.0966 after shedding 0.5% overnight.
SECTORS & STOCKS
BSE Auto and Realty indices are up 1-2% followed by counters like FMCG, Healthcare, IT, Banks, Capital Goods and Metal, all gaining by almost 1% each. Infact, all the sectoral indices are trading in positive zone.
The top gainers from the Sensex pack are Tata Motors, Vedanta, Hindalco, Tata Steel, HDFC Bank and Dr Reddy’s Lab.
Tata Motors has surged over 4%. Soccer great Lionel Messi will become the face of Tata Motors' passenger vehicles portfolio. The Mumbai-based company has signed a two-year agreement (with the option to expand further) with the ace footballer for endorsing Tata Motors' range of passenger vehicles in India and in the international markets.
The HDFC Group has set up a new fund management company, HDFC Capital Advisors, to launch an offshore real estate fund, according to sources in the know. Shares of HDFC Bank and HDFC are up almost 1% each.
Hero MotoCorp reported 11.25 per cent rise in sales at 6,39,802 units in October, its highest ever in a single month. Hero Moto has gained nearly 1%.
Tech Mahindra on Tuesday reported revenue and net profit above Street expectations. The good show was supported by operational efficiency and dollar-rupee conversion gains, along with better business from the US. Shares of the company are up over 1%.
DLF has gained over 2% after the company recorded a 21% increase in consolidated profit at Rs 131.5 crore during the second quarter of the financial year 2015-16.
On the losing side, GAIL has fallen over 1%. The company posted a 66% decline in net profit for the quarter ended September on the back of lower price realisation in transmission of Liquefied Petroleum Gas (LPG) and other petroleum products.
With Reuters input
By 10:25 am, the Sensex was higher by 118 points at 26,708 and the Nifty gained 25 points at 8,085.
The top gainers from the Sensex pack are Tata Motors, Bajaj Auto, Hindalco, Hero Moto, Vedanta and M&M, all surging between 1-6%.
On the losing side, GAIL, TCS, ICICI Bank, Axis Bank and Lupin have slipped between 0.5-1%.
***********************************
Updated at 9:30 am
Markets are trading higher in opening trades tracking positive global cues along with buying among auto, financials and metal shares leading the gains.
By 9:30, the Sensex was higher by 148 points at 26,738 and the Nifty gained 37 points at 8,098.
The broader markets are trading positive in line with the benchmark indices- BSE Midcap and Smallcap indices are up 0.5% each. Market breadth is positive with 1,043 gainers and 321 losers on the BSE.
ALSO READ: Trading tips from Geojit BNP Paribas
On Tuesday markets snapped six day losing streak and ended marginally positive, amid volatile trades, led by oil and IT sectors. However, the upside was capped due to mild selling among banks, capital goods and consumer durables sectors.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 449.84 crore yesterday as per provisional data released by the stock exchanges.
On macro front, the Nikkei India Service PMI data for the month of October 2015 is due today. The seasonally adjusted Nikkei Services Business Activity Index fell to 51.5 in September 2015 from 52.6 in August 2015.
In the currency front, the rupee has appreciated by 11 paise to 65.53 against the dollar in early trade today on selling of the American currency by exporters and banks.
MOTILAL OSWAL's MARKET OUTLOOK
The occurence of a 'Doji' re-confirms the immediate support for Nifty at 8,000, below which 7,700-7,800 could be an immediate movement. Pullback if any will make the reward to risk lucrative for selling with a stop above 8,450. Mixed set of cues from Nifty futures reduces conviction on directional cues from futures. Still heavy 8000 Put indicates 8,000 requires to be broken for fresh downside up to 7,800 to open up.
Q2 EARNINGS
Ashok Leyland, Engineers India, Marico, Neyveli Lignite Corporation, Procter & Gamble Hygiene & Health Care and Reliance Infrastructure will announce their second quarter earnings today.
GLOBAL MARKETS
Asian shares rose on Wednesday, taking early cues from overnight Wall Street gains, while investors' sharper risk appetite lifted US debt yields and supported the dollar.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.4%. Australian shares surged 1.3%.
Large tech and energy sector gains drove US stocks higher on Tuesday, with an index of 100 major Nasdaq companies finishing at a record closing high.
Investor appetite for riskier assets drove safe-haven US Treasury yields higher, with the benchmark 10-year note yield climbing to a 1-1/2-month high of 2.225% overnight.
Higher US debt yields supported the dollar, which climbed to a 4-day high of 121.06 yen . The euro was flat at $1.0966 after shedding 0.5% overnight.
SECTORS & STOCKS
BSE Auto and Realty indices are up 1-2% followed by counters like FMCG, Healthcare, IT, Banks, Capital Goods and Metal, all gaining by almost 1% each. Infact, all the sectoral indices are trading in positive zone.
The top gainers from the Sensex pack are Tata Motors, Vedanta, Hindalco, Tata Steel, HDFC Bank and Dr Reddy’s Lab.
Tata Motors has surged over 4%. Soccer great Lionel Messi will become the face of Tata Motors' passenger vehicles portfolio. The Mumbai-based company has signed a two-year agreement (with the option to expand further) with the ace footballer for endorsing Tata Motors' range of passenger vehicles in India and in the international markets.
The HDFC Group has set up a new fund management company, HDFC Capital Advisors, to launch an offshore real estate fund, according to sources in the know. Shares of HDFC Bank and HDFC are up almost 1% each.
Hero MotoCorp reported 11.25 per cent rise in sales at 6,39,802 units in October, its highest ever in a single month. Hero Moto has gained nearly 1%.
Tech Mahindra on Tuesday reported revenue and net profit above Street expectations. The good show was supported by operational efficiency and dollar-rupee conversion gains, along with better business from the US. Shares of the company are up over 1%.
DLF has gained over 2% after the company recorded a 21% increase in consolidated profit at Rs 131.5 crore during the second quarter of the financial year 2015-16.
On the losing side, GAIL has fallen over 1%. The company posted a 66% decline in net profit for the quarter ended September on the back of lower price realisation in transmission of Liquefied Petroleum Gas (LPG) and other petroleum products.
With Reuters input