 "Nifty reclaims 8,300, Sensex gains 350 points; Vedanta up 4%")
Benchmark indices have extended gains and are trading near day’s high led by strong rally among metal, auto and financial shares.
At 11:22am, the Sensex was at 27,473, higher by 367 points or 0.7% and the Nifty was at 8,301, up 110 points.
The top gainers on the Sensex are Vedanta, Hindalco, Hero Moto, SBI and Coal India, all surging between 3-4%.
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Updated at 10:40
Benchmark indices continue to trade firm, led by strong buying among metal, auto and financial shares. Strong US job data along and the decision by Finance Minister Arun Jaitley to set up a high-level committee on the issue of imposition of MAT on foreign investors boosted investor sentiment.
At 10:40am, the Sensex was at 27,381, higher by 276 points or 0.7% and the Nifty was at 8,269, up 78 points.
The broader markets are trading firm in line with the benchmark indices- BSE Midcap and Smallcap indices are up 1-1.3% each. The market breadth is strong, with 1,458 advances and 536 declines.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 437.56 crore during the previous trading session on Friday, 8 May 2015, as per provisional data released by the stock exchanges.
Domestic institutional investors (DIIs) sold shares worth a net Rs 1114.38 crore during the previous trading session on Friday, 8 May 2015, as per provisional data.
On the macro-economic front, data on inflation based on consumer price index (CPI) for April will be unveiled on Tuesday. On the same day, industrial production (IIP) data for March will also be released.
Moreover, wholesale price index (WPI) data for April will be announced on Thursday.
Ashok Leyland, Dr Reddy's, Lupin, Cadila Healthcare and JSW Steel will announce their results this week.
On the currency front, the rupee has opened with marginal gains of 9 paise at 63.85 per dollar on Monday versus 63.94 on Friday.
GLOBAL MARKETS
Asian shares rose on Monday as investors cheered China's latest cut to interest rates to bolster its flagging economy and after Wall Street rallied on a robust headline reading for U.S. employment.
China cut interest rates for the third time in six months on Sunday, and analysts predicted policymakers would relax reserve requirements and cut rates again in the coming months.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3%, moving away from a one-month low touched on Friday. Japan's Nikkei share average added 1.3%, also moving away from last week's one-month low.
Chinese shares erased earlier losses and were solidly higher. The CSI300 index of the largest listed companies in Shanghai and Shenzhen was up 1%, while the Shanghai Composite Index was up 1.2%.
SECTORS & STOCKS
BSE Metal index has surged by 2.5% followed by counters such as Auto, Healthcare, Banks, Realty, Capital Goods, IT, Oil & Gas, Power and TECk, all gaining 1-2% each. Apart from Consumer Durables, all the major BSE sectoral indices are trading in positive zone.
The main gainers on the Sensex are Vedanta, Hindalco, Tata Steel, Hero Moto, Coal India, Cipla, ICICI Bank and HDFC.
Metal and mining stocks gained after China cut interest rates for the third time in six months on Sunday, 10 May 2015 to stimulate growth. China is the world's largest consumer of steel, copper and aluminum.
Having secured regulator Sebi's go-ahead, home-grown pharma giant Cipla's promoters will decide on their proposed family pact in "due course", wherein the entire Hamied family will vote as a single unit.
Morgage lender Housing Development Finance Corporation (HDFC) has emerged as the only Indian company among the world's 10 biggest consumer financial services firms, after giants like American Express, Visa and Mastercard.
SMART MOVERS
Shares of Siyaram Silk Mills have moved higher by 10% to Rs 1,050 on the NSE after reporting a strong 59% year-on-year jump in net profit at Rs 32.14 crore for the fourth quarter ended March 2015 (Q4).
Shares of Nucleus Software Exports have surged 19% to Rs 265, extending Friday’s 13% rally on the BSE, after the information technology (IT) company reported a strong 63% quarter-on-quarter growth in operating profit at Rs 24.75 crore for the fourth quarter ended March 2015 (Q4).
Shares of Federal Bank were trading higher by 3% at Rs 135 in early morning trades on the NSE after the private sector lender announced a bonus issue plan.
At 11:22am, the Sensex was at 27,473, higher by 367 points or 0.7% and the Nifty was at 8,301, up 110 points.
The top gainers on the Sensex are Vedanta, Hindalco, Hero Moto, SBI and Coal India, all surging between 3-4%.
Also Read
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Updated at 10:40
Benchmark indices continue to trade firm, led by strong buying among metal, auto and financial shares. Strong US job data along and the decision by Finance Minister Arun Jaitley to set up a high-level committee on the issue of imposition of MAT on foreign investors boosted investor sentiment.
At 10:40am, the Sensex was at 27,381, higher by 276 points or 0.7% and the Nifty was at 8,269, up 78 points.
The broader markets are trading firm in line with the benchmark indices- BSE Midcap and Smallcap indices are up 1-1.3% each. The market breadth is strong, with 1,458 advances and 536 declines.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 437.56 crore during the previous trading session on Friday, 8 May 2015, as per provisional data released by the stock exchanges.
Domestic institutional investors (DIIs) sold shares worth a net Rs 1114.38 crore during the previous trading session on Friday, 8 May 2015, as per provisional data.
On the macro-economic front, data on inflation based on consumer price index (CPI) for April will be unveiled on Tuesday. On the same day, industrial production (IIP) data for March will also be released.
Moreover, wholesale price index (WPI) data for April will be announced on Thursday.
Ashok Leyland, Dr Reddy's, Lupin, Cadila Healthcare and JSW Steel will announce their results this week.
On the currency front, the rupee has opened with marginal gains of 9 paise at 63.85 per dollar on Monday versus 63.94 on Friday.
GLOBAL MARKETS
Asian shares rose on Monday as investors cheered China's latest cut to interest rates to bolster its flagging economy and after Wall Street rallied on a robust headline reading for U.S. employment.
China cut interest rates for the third time in six months on Sunday, and analysts predicted policymakers would relax reserve requirements and cut rates again in the coming months.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3%, moving away from a one-month low touched on Friday. Japan's Nikkei share average added 1.3%, also moving away from last week's one-month low.
Chinese shares erased earlier losses and were solidly higher. The CSI300 index of the largest listed companies in Shanghai and Shenzhen was up 1%, while the Shanghai Composite Index was up 1.2%.
SECTORS & STOCKS
BSE Metal index has surged by 2.5% followed by counters such as Auto, Healthcare, Banks, Realty, Capital Goods, IT, Oil & Gas, Power and TECk, all gaining 1-2% each. Apart from Consumer Durables, all the major BSE sectoral indices are trading in positive zone.
The main gainers on the Sensex are Vedanta, Hindalco, Tata Steel, Hero Moto, Coal India, Cipla, ICICI Bank and HDFC.
Metal and mining stocks gained after China cut interest rates for the third time in six months on Sunday, 10 May 2015 to stimulate growth. China is the world's largest consumer of steel, copper and aluminum.
Having secured regulator Sebi's go-ahead, home-grown pharma giant Cipla's promoters will decide on their proposed family pact in "due course", wherein the entire Hamied family will vote as a single unit.
Morgage lender Housing Development Finance Corporation (HDFC) has emerged as the only Indian company among the world's 10 biggest consumer financial services firms, after giants like American Express, Visa and Mastercard.
SMART MOVERS
Shares of Siyaram Silk Mills have moved higher by 10% to Rs 1,050 on the NSE after reporting a strong 59% year-on-year jump in net profit at Rs 32.14 crore for the fourth quarter ended March 2015 (Q4).
Shares of Nucleus Software Exports have surged 19% to Rs 265, extending Friday’s 13% rally on the BSE, after the information technology (IT) company reported a strong 63% quarter-on-quarter growth in operating profit at Rs 24.75 crore for the fourth quarter ended March 2015 (Q4).
Shares of Federal Bank were trading higher by 3% at Rs 135 in early morning trades on the NSE after the private sector lender announced a bonus issue plan.