 "Nifty holds 8,150; ICICI Bank up 3%, Hero Moto falls 3%")
Benchmark indices continue to hold on to their gains led by auto, capital goods and financial shares.
By 10:20 AM, the 30-share Sensex was higher by 382 points 26,981 and the Nifty has gained 109 points at 8,167 mark.
The top gainers on the Sensex are Tata Motors, M&M, ICICI Bank, Bajaj Auto and HDFC, all gaining between 2-3%.
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Updated at 9:30
Markets have rebounded sharply in trades today tracking positive global cues amid short covering led by financials and index heavyweight shares.
However, investors will remain cautious ahead of the US job data due later during the day.
By 9:32 AM, the 30-share Sensex was higher by 333 points 26,933 and the Nifty has gained 98 points at 8,154 mark.
Among broader markets, BSE Midcap and Smallcap indices are outperforming the benchmark indices, up between 1-2%. The market breadth in BSE is positive with 1,848 declines against 819 advances.
"Nifty is likely to open with the gap up by tracking the positive Asian market. Nifty has a resistance level of 8140 on the upside any move on closing basis will extend it’s rally towards 8260 levels. The support for Nifty lies at 8,040-8,000 levels," points out a morning note from Nirmal Bang.
Meanwhile, the rupee is currently trading at 64.15 against the US dollar. The rupee had hit its 20-month low yesterday as it broke past 64 to the dollar.
The benchmark indices had a weak closing yesterday, with the Sensex ending at 6-month lows, due to persistent selling by foreign institutional investors on MAT concerns.
Further, foreign portfolio investors maintain their selling spree and sold shares worth a net Rs 1360.69 crore yesterday, as per provisional data. Domestic institutional investors (DIIs) bought shares worth a net Rs 1158.02 crore yesterday, as per provisional data released by the stock exchanges.
Meanwhile, the rupee is currently trading at 64.15 against the US dollar. The rupee had hit its 20-month low yesterday as it broke past 64 to the dollar.
GLOBAL MARKETS
Asian shares held firm on Friday on signs global bond markets are stabilising after a big selloff and sterling jumped about 1% after UK exit polls forecast the ruling Conservatives taking the most seats in parliament.
MSCI's broadest index of Asia-Pacific shares outside Japan was little changed while Japan's Nikkei ticked up 0.2% from one-month low hit on Thursday.
Investors breathed a sigh of relief after the global bond market rout since late April appeared to have run its course for now.
China's exports unexpectedly fell 6.4% in April from a year earlier, while imports tumbled by a deeper-than-forecast 16.2%, fueling expectations that Beijing will quickly roll out more stimulus to avert a sharper economic slowdown.
SECTORS & STOCKS
BSE Bankex and BSE Realty index have surged by almost 2% followed by counters like FMCG, Healthcare, IT, Auto, Capital Goods, Metal, Oil & Gas and Power, all rising by 1% each. However, BSE Consumer Durables index has slipped by almost 3%.
The top gainers on the Sensex are ICICI Bank, Cipla, Tata Motors, Tata Power and SBI.
Tata Motors, the global auto giant said its rights issue, which closed on May 2, was oversubscribed by 1.21 times and the company "collected" an amount of Rs 9,040.56 crore.
On the losing side, Hero Moto has plunged by almost 4%. Hit by an impairment charge of Rs 155 crore, Hero MotoCorp, the country’s largest two-wheeler manufacturer by volume, reported a 14 per cent slump in net profit for the quarter ended March, 2015. Stand-alone net profit for the quarter was Rs 476.5 crore, against Rs 554 crore in the corresponding period of the previous year.
Other notable losers are Bajaj Auto, RIL and GAIL.
Titan Company has slipped by over 7%. The company reported a marginal growth of 4.3% in net profit at Rs 215 crore for the fourth quarter ended March 2015 compared to Rs 206 crore in the corresponding quarter last year.
By 10:20 AM, the 30-share Sensex was higher by 382 points 26,981 and the Nifty has gained 109 points at 8,167 mark.
The top gainers on the Sensex are Tata Motors, M&M, ICICI Bank, Bajaj Auto and HDFC, all gaining between 2-3%.
More From This Section
On the losing side, Hero Moto is the top Sensex loser, down over 3%.
***********************************
Updated at 9:30
Markets have rebounded sharply in trades today tracking positive global cues amid short covering led by financials and index heavyweight shares.
However, investors will remain cautious ahead of the US job data due later during the day.
By 9:32 AM, the 30-share Sensex was higher by 333 points 26,933 and the Nifty has gained 98 points at 8,154 mark.
Among broader markets, BSE Midcap and Smallcap indices are outperforming the benchmark indices, up between 1-2%. The market breadth in BSE is positive with 1,848 declines against 819 advances.
"Nifty is likely to open with the gap up by tracking the positive Asian market. Nifty has a resistance level of 8140 on the upside any move on closing basis will extend it’s rally towards 8260 levels. The support for Nifty lies at 8,040-8,000 levels," points out a morning note from Nirmal Bang.
Meanwhile, the rupee is currently trading at 64.15 against the US dollar. The rupee had hit its 20-month low yesterday as it broke past 64 to the dollar.
The benchmark indices had a weak closing yesterday, with the Sensex ending at 6-month lows, due to persistent selling by foreign institutional investors on MAT concerns.
Further, foreign portfolio investors maintain their selling spree and sold shares worth a net Rs 1360.69 crore yesterday, as per provisional data. Domestic institutional investors (DIIs) bought shares worth a net Rs 1158.02 crore yesterday, as per provisional data released by the stock exchanges.
Meanwhile, the rupee is currently trading at 64.15 against the US dollar. The rupee had hit its 20-month low yesterday as it broke past 64 to the dollar.
GLOBAL MARKETS
Asian shares held firm on Friday on signs global bond markets are stabilising after a big selloff and sterling jumped about 1% after UK exit polls forecast the ruling Conservatives taking the most seats in parliament.
MSCI's broadest index of Asia-Pacific shares outside Japan was little changed while Japan's Nikkei ticked up 0.2% from one-month low hit on Thursday.
Investors breathed a sigh of relief after the global bond market rout since late April appeared to have run its course for now.
China's exports unexpectedly fell 6.4% in April from a year earlier, while imports tumbled by a deeper-than-forecast 16.2%, fueling expectations that Beijing will quickly roll out more stimulus to avert a sharper economic slowdown.
SECTORS & STOCKS
BSE Bankex and BSE Realty index have surged by almost 2% followed by counters like FMCG, Healthcare, IT, Auto, Capital Goods, Metal, Oil & Gas and Power, all rising by 1% each. However, BSE Consumer Durables index has slipped by almost 3%.
The top gainers on the Sensex are ICICI Bank, Cipla, Tata Motors, Tata Power and SBI.
Tata Motors, the global auto giant said its rights issue, which closed on May 2, was oversubscribed by 1.21 times and the company "collected" an amount of Rs 9,040.56 crore.
On the losing side, Hero Moto has plunged by almost 4%. Hit by an impairment charge of Rs 155 crore, Hero MotoCorp, the country’s largest two-wheeler manufacturer by volume, reported a 14 per cent slump in net profit for the quarter ended March, 2015. Stand-alone net profit for the quarter was Rs 476.5 crore, against Rs 554 crore in the corresponding period of the previous year.
Other notable losers are Bajaj Auto, RIL and GAIL.
Titan Company has slipped by over 7%. The company reported a marginal growth of 4.3% in net profit at Rs 215 crore for the fourth quarter ended March 2015 compared to Rs 206 crore in the corresponding quarter last year.