 "Sensex gains over 100 points, Nifty eyes 8,300; oil & pharma shares rise")
Benchmark indices have extended gains and are trading near day’s high led by index heavyweights like Reliance Inds and Infosys and pharma shares.
By 12:45 pm, the Sensex was higher by 153 points at 27,368 and the Nifty gained 37 points at 8,275.
The top gainers from the Sensex pack are Reliance Inds, Bharti Airtel, Sun Pharma, Infosys and Lupin.
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Updated at 11:33 am
Markets continue to trade in the positive zone tracking a smart rally in index heavyweight- Reliance Industries post its Q2 results, which was better than expected.
However, the upside is capped due to selling pressure witnessed in auto and banking shares.
By 11:33 am, the Sensex was higher by 53 points at 27,268 and the Nifty gained 4 points at 8,242. Among broader markets, BSE Midcap and Smallcap indices are up 0.2-0.4%. Market breadth is positive on the BSE with 1,380 shares advancing and 926 shares declining.
Meanwhile, China posted its weakest quarterly economic growth since the global financial crisis on Monday, raising pressure on policymakers to cut interest rates further and roll out other support measures to avert a sharper slowdown.
On currency front, the rupee is trading flat at 64.80 against the dollar today on fresh selling of the US currency by exporters amid sustained foreign fund inflows.
RESULTS CORNER
HCL Technologies, India's fourth-largest software services exporter by revenue, today reported a 3.2% dip in its Q1 net profit at Rs 1,726 crore on a sequential basis.
The company had posted a net profit of Rs 1,783 crore for the fourth quarter ended June 30, 2015. On an annual basis, the net profit was down 7.9%. Analysts on an average had expected a net profit of Rs 1,723 crore. The stock is flat at 0.04%
Among other companies which will be announcing their quarterly results today are Ultratech Cement, SKS Microfinance and Petronet LNG
BUZZING STOCKS
Sectorally, BSE Oil & Gas and Healthcare indices are rallying nearly 1% up. On the flip side, BSE Auto, Capital Goods, and Bankex indices are down 0.5% each
On Friday, Reliance Industries posted 12.5% rise in its fiscal second-quarter profit, helped by stronger margins in its core refining business thus beating the street’s estimates. Shares of Reliance Inds have surged over 4%.
Infosys has advanced 1.3% after the company announced a definitive agreement to acquire Noah Consulting, LLC, for $70 million (approx. Rs 450 crore) in all-cash deal.
The Vedanta group signed an early agreement to invest around Rs8,400 crore to expand and develop its mineral and mining base in Rajasthan. Vedanta has gained by 0.2%
Hindustan Unilever (HUL) turns ex-dividend today for dividend of Rs 6.50 per share for the year ending 31 March 2016 (FY 2016). The stock has moved up by 0.4%
Indian Oil Corporation (IOC), the nation’s largest fuel retailer, is busy executing over a dozen projects at an investment of over Rs 12,000 crore to expand its network of crude oil and products pipeline by 54% to 17,000 kilometres by 2019. The stock has gained nearly 1% on the BSE.
Tata Motors have edged down over 2% on account of profit booking.
Other notable gainers on the Sensex are Bharti Airtel, Sun Pharma, Infosys, up between 1-2.5% each.
Among other shares, New Delhi-based auto component maker Amtek Auto is close to reaching a solution with JPMorgan, which holds its non-convertible debentures worth Rs 200 crore. The stock has zoomed over 10%.
Lanco Infratech on Sunday announced it had won a case in the Supreme Court for its subsidiary company Lanco Kondapalli Power Limited (LKPL), dismissing appeals filed by Andhra Pradesh Power Coordination Committee and AP Discoms and also upholding the orders passed by APTEL and APERC in favour LKPL. Shares of Lanco Infra are up over 5%.
By 12:45 pm, the Sensex was higher by 153 points at 27,368 and the Nifty gained 37 points at 8,275.
The top gainers from the Sensex pack are Reliance Inds, Bharti Airtel, Sun Pharma, Infosys and Lupin.
More From This Section
*********************************
Updated at 11:33 am
Markets continue to trade in the positive zone tracking a smart rally in index heavyweight- Reliance Industries post its Q2 results, which was better than expected.
However, the upside is capped due to selling pressure witnessed in auto and banking shares.
By 11:33 am, the Sensex was higher by 53 points at 27,268 and the Nifty gained 4 points at 8,242. Among broader markets, BSE Midcap and Smallcap indices are up 0.2-0.4%. Market breadth is positive on the BSE with 1,380 shares advancing and 926 shares declining.
Meanwhile, China posted its weakest quarterly economic growth since the global financial crisis on Monday, raising pressure on policymakers to cut interest rates further and roll out other support measures to avert a sharper slowdown.
On currency front, the rupee is trading flat at 64.80 against the dollar today on fresh selling of the US currency by exporters amid sustained foreign fund inflows.
RESULTS CORNER
HCL Technologies, India's fourth-largest software services exporter by revenue, today reported a 3.2% dip in its Q1 net profit at Rs 1,726 crore on a sequential basis.
The company had posted a net profit of Rs 1,783 crore for the fourth quarter ended June 30, 2015. On an annual basis, the net profit was down 7.9%. Analysts on an average had expected a net profit of Rs 1,723 crore. The stock is flat at 0.04%
Among other companies which will be announcing their quarterly results today are Ultratech Cement, SKS Microfinance and Petronet LNG
BUZZING STOCKS
Sectorally, BSE Oil & Gas and Healthcare indices are rallying nearly 1% up. On the flip side, BSE Auto, Capital Goods, and Bankex indices are down 0.5% each
On Friday, Reliance Industries posted 12.5% rise in its fiscal second-quarter profit, helped by stronger margins in its core refining business thus beating the street’s estimates. Shares of Reliance Inds have surged over 4%.
Infosys has advanced 1.3% after the company announced a definitive agreement to acquire Noah Consulting, LLC, for $70 million (approx. Rs 450 crore) in all-cash deal.
The Vedanta group signed an early agreement to invest around Rs8,400 crore to expand and develop its mineral and mining base in Rajasthan. Vedanta has gained by 0.2%
Hindustan Unilever (HUL) turns ex-dividend today for dividend of Rs 6.50 per share for the year ending 31 March 2016 (FY 2016). The stock has moved up by 0.4%
Indian Oil Corporation (IOC), the nation’s largest fuel retailer, is busy executing over a dozen projects at an investment of over Rs 12,000 crore to expand its network of crude oil and products pipeline by 54% to 17,000 kilometres by 2019. The stock has gained nearly 1% on the BSE.
Tata Motors have edged down over 2% on account of profit booking.
Other notable gainers on the Sensex are Bharti Airtel, Sun Pharma, Infosys, up between 1-2.5% each.
Among other shares, New Delhi-based auto component maker Amtek Auto is close to reaching a solution with JPMorgan, which holds its non-convertible debentures worth Rs 200 crore. The stock has zoomed over 10%.
Lanco Infratech on Sunday announced it had won a case in the Supreme Court for its subsidiary company Lanco Kondapalli Power Limited (LKPL), dismissing appeals filed by Andhra Pradesh Power Coordination Committee and AP Discoms and also upholding the orders passed by APTEL and APERC in favour LKPL. Shares of Lanco Infra are up over 5%.