 "Sensex gains 100 points; SBI, Cipla up over 2%")
By 10:30, the Sensex was higher by 96 points at 28,902 mark and the Nifty gained by 40 points at 8,751 levels.
However, the broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices are up nearly 0.7%. Market breadth in BSE is positive with 1,316 shares advancing and 816 shares declining.
Meanwhile, foreign portfolio investors sold shares worth a net Rs 406.28 crore yesterday, as per provisional data. Domestic institutional investors (DIIs) bought shares worth a net Rs 705.53 crore yesterday, as per provisional data released by the stock exchanges.
On the currency front, the rupee strengthened by 26 paise to 62.05 against the dollar in early trade today at the Interbank Foreign Exchange on fresh selling of the US currency by exporters and banks. Forex dealers said besides selling of the American currency by exporters and banks, a higher opening in domestic stock market, supported the rupee.
SECTORS & STOCKS
BSE Healthcare index has surged over 2% followed by counters like Consumer Durables, Realty, IT and Metal, all gaining between 0.5-1.4%. However, sectors like Oil & Gas and Power are trading marginally negative.
Mahindra & Mahindra, State Bank of India, HPCL and Indian Oil Corporation will declare their Q3 December 2014 result today.
The top gainers on the Sensex are SBI, Sun Pharma, Cipla, TCS, Sesa Sterlie, L&T and Dr Reddy’s Labs.
Shares of pharmaceutical company Cipla has gained nearly 2% after the company, through its UK-based subsidiary Cipla (EU) Limited, entered into a joint venture (JV) agreement with Cipla’s existing business partners in Morocco – Societe Marocaine De Cooperation Pharmaceutique (Cooper Pharma) and the Pharmaceutical Institute (PHI).
Lupin has gained by nearly 4% after the Reserve Bank of India (RBI) yesterday raised the ceiling on investment in the company's shares by foreign institutional investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) under the portfolio investment scheme to 49% of the company's equity capital with effect from 12 February 2015, from earlier 33%.
Shares of Tata Steel have inched higher by over 1% to Rs 369 on the BSE after the company decided to acquire three service centres in Sweden, Finland and Norway from rival SSAB to strengthen its offering to manufacturers in the Nordic region.
On the losing side, BHEL, ONGC, Bharti Aitel, GAIL and Tata Motors have slipped between 1-2%.
Shares of Bharat Heavy Electricals Limited (BHEL) were trading lower by 3% at Rs 260 on NSE after reporting a disappointing set of numbers for the quarter ended December 2014 (Q3).
Among other shares, Claris Lifesciences has rallied 18% to Rs 293, also its record high on BSE in early morning deal after reporting an over five-fold jump in its consolidated net profit at Rs 89.85 crore for the quarter ended December 31, 2014 (Q4) on back of strong operational performance and onetime gain due to tax credit.