 "Markets remain positive; SBI, ITC gain ahead of Q4 nos")
Markets have commenced the trading session on a positive note tracking firm global cues.
By 9:25, the 30-share Sensex was higher by 60 points at 27,869 and the Nifty gained 8 points at 8,429.
However, the broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices are up 0.2-0.4%.
Further, foreign portfolio investors sold shares worth a net Rs 186.26 crore yesterday, 21 May 2015, as per provisional data.
On the corporate earnings front, Coal India, ITC and State Bank of India (SBI) will announce their Q4 results today.
GLOBAL MARKETS
Asian shares rose on Friday after Wall Street set another record high with prospects for a Federal Reserve rate hike in June all but quashed, while the dollar steadied after losing ground to the euro for the first time this week on downbeat US data.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.7% with South Korean, Australian and Hong Kong shares posting sizeable gains. The Shanghai Composite Index extended the previous day's stimulus-hope driven rally and gained 1.2%. It was on track for a six% weekly gain having climbed to seven-year high.
Tokyo's Nikkei was little changed, hovering near a 15-year high. Japanese stocks have been boosted this week by data showing stronger-than-expected first quarter growth.
The Bank of Japan concludes its two-day policy meeting later in the session and while the central bank is widely expected to stand pat on policy, with some focus on how it perceived GDP growth in the first quarter.
SECTORS & STOCKS
BSE Oil & Gas, FMCG, Consumer Durables and FMCG indices are up over 0.5% each. However, BSE IT, Auto, Metal and Power indices are trading marginally lower.
The top gainers on the Sensex are SBI, ONGC, ITC, Cipla, ICICI Bank and RIL, all gaining between 1-2%.
SBI and ITC are trading firm ahead of Q4 numbers.
State-run Oil and Natural Gas Corporation and its partner, Cairn India, are readying to spend between $750 million and $1 billion (Rs 4,800-6,400 crore) in the Nagayalanka onshore block in the Krishna-Godavari Basin.
Cipla said that Cipla (EU), U.K., the wholly owned subsidiary of the company, has entered into a definitive agreement to acquire a 51% stake in Quality Chemicals, Uganda (QCL) from the existing shareholders of QCL
On the losing side, Bajaj Auto has dipped by almost 2%.Hit by declining sales, Bajaj Auto today reported 18.62 per cent fall in standalone net profit at Rs 621.62 crore for the fourth quarter ended Mach 31.
Other notable losers are Wipro, Bharti Airtel, Hindalco, Vedanta and Dr Reddy’s Labs.
By 9:25, the 30-share Sensex was higher by 60 points at 27,869 and the Nifty gained 8 points at 8,429.
However, the broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices are up 0.2-0.4%.
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The market breadth is positive on the BSE with 735 shares advancing versus 416 shares declining.
Further, foreign portfolio investors sold shares worth a net Rs 186.26 crore yesterday, 21 May 2015, as per provisional data.
On the corporate earnings front, Coal India, ITC and State Bank of India (SBI) will announce their Q4 results today.
GLOBAL MARKETS
Asian shares rose on Friday after Wall Street set another record high with prospects for a Federal Reserve rate hike in June all but quashed, while the dollar steadied after losing ground to the euro for the first time this week on downbeat US data.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.7% with South Korean, Australian and Hong Kong shares posting sizeable gains. The Shanghai Composite Index extended the previous day's stimulus-hope driven rally and gained 1.2%. It was on track for a six% weekly gain having climbed to seven-year high.
Tokyo's Nikkei was little changed, hovering near a 15-year high. Japanese stocks have been boosted this week by data showing stronger-than-expected first quarter growth.
The Bank of Japan concludes its two-day policy meeting later in the session and while the central bank is widely expected to stand pat on policy, with some focus on how it perceived GDP growth in the first quarter.
SECTORS & STOCKS
BSE Oil & Gas, FMCG, Consumer Durables and FMCG indices are up over 0.5% each. However, BSE IT, Auto, Metal and Power indices are trading marginally lower.
The top gainers on the Sensex are SBI, ONGC, ITC, Cipla, ICICI Bank and RIL, all gaining between 1-2%.
SBI and ITC are trading firm ahead of Q4 numbers.
State-run Oil and Natural Gas Corporation and its partner, Cairn India, are readying to spend between $750 million and $1 billion (Rs 4,800-6,400 crore) in the Nagayalanka onshore block in the Krishna-Godavari Basin.
Cipla said that Cipla (EU), U.K., the wholly owned subsidiary of the company, has entered into a definitive agreement to acquire a 51% stake in Quality Chemicals, Uganda (QCL) from the existing shareholders of QCL
On the losing side, Bajaj Auto has dipped by almost 2%.Hit by declining sales, Bajaj Auto today reported 18.62 per cent fall in standalone net profit at Rs 621.62 crore for the fourth quarter ended Mach 31.
Other notable losers are Wipro, Bharti Airtel, Hindalco, Vedanta and Dr Reddy’s Labs.