 "Sensex reclaims 29,000; IT, pharma shares rally")
Benchmark indices have extended gains on fresh buying in SBI along with sustained gains in information technology, pharmaceuticals and select bank shares like ICICI Bank and Axis Bank.
At 12:57PM, the 30-share Sensex was up 214 points at 29,019 and the 50-share Nifty was up 68 points at 8,780.
In the broader market, both the BSE Midcap and Smallcap indices, up 0.7% and 0.6% each are moving largely in-line the front-liners. Market breadth in BSE is positive with 1,391 advances against 1,199 declines.
Buzzing Stocks
10 of the 12 sectoral indices of BSE are in green. BSE Healthcare index, up 1.6%, is the top gainer followed by BSE Bankex and Auto index, up 1.1% and 1% each.
Among bank shares, SBI is the top gainer and is trading higher by around 6%. State Bank of India today reported a Q3 net profit of Rs 2,910 crore compared to Rs 2,234 crore in the year-ago period, an uptick of 30.3%.Bad loans were contained, with gross NPA at 4.90% compared to 4.89% for the quarter ended September, 2014. Net NPA came in at 2.8% compared to 2.73% q-o-q. Axis bank and ICICI Bank have gained 0.5% and 1% each.
IT shares are trading firm with TCS, up 2.4%, in the lead followed by Wipro, up 1.8%. Infosys, however is trading flat.
Auto share are trading mixed. Maruti Suzuki, Hero Motocorp and M&M have gained 1.2%, 1.4% and 2.4% respectively.
Cipla has gained over 1%. Cipla has entered into a joint venture agreement with company’s existing business partners in Morocco – Societe Marocaine De Cooperation Pharmaceutique (Cooper Pharma) and the Pharmaceutical Institute (PHI) through its UK-based subsidiary Cipla (EU) Limited. Meanwhile, Sun Pharma has gained over 2% and Dr Reddys Lab is trading flat.
ITC has gained around 0.6%. ITC has entered into Asset Purchase Agreements with M/s. Johnson & Johnson Ltd., India & M/s. Johnson & Johnson Pte. Ltd., Singapore for purchase of ‘Savlon’ and ‘Shower To Shower’ trademarks and other intellectual property, respectively, primarily for use in India.
Among losers, BHEL is down 3.4% after reporting sub-par quarterly results.
ONGC and GAIL have declined around 2% each.
At 12:57PM, the 30-share Sensex was up 214 points at 29,019 and the 50-share Nifty was up 68 points at 8,780.
In the broader market, both the BSE Midcap and Smallcap indices, up 0.7% and 0.6% each are moving largely in-line the front-liners. Market breadth in BSE is positive with 1,391 advances against 1,199 declines.
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Meanwhile, foreign portfolio investors continued to remain sellers in Indian equities with net sales of Rs 406 crore on Thursday, as per provisional data.
Buzzing Stocks
10 of the 12 sectoral indices of BSE are in green. BSE Healthcare index, up 1.6%, is the top gainer followed by BSE Bankex and Auto index, up 1.1% and 1% each.
Among bank shares, SBI is the top gainer and is trading higher by around 6%. State Bank of India today reported a Q3 net profit of Rs 2,910 crore compared to Rs 2,234 crore in the year-ago period, an uptick of 30.3%.Bad loans were contained, with gross NPA at 4.90% compared to 4.89% for the quarter ended September, 2014. Net NPA came in at 2.8% compared to 2.73% q-o-q. Axis bank and ICICI Bank have gained 0.5% and 1% each.
IT shares are trading firm with TCS, up 2.4%, in the lead followed by Wipro, up 1.8%. Infosys, however is trading flat.
Auto share are trading mixed. Maruti Suzuki, Hero Motocorp and M&M have gained 1.2%, 1.4% and 2.4% respectively.
Cipla has gained over 1%. Cipla has entered into a joint venture agreement with company’s existing business partners in Morocco – Societe Marocaine De Cooperation Pharmaceutique (Cooper Pharma) and the Pharmaceutical Institute (PHI) through its UK-based subsidiary Cipla (EU) Limited. Meanwhile, Sun Pharma has gained over 2% and Dr Reddys Lab is trading flat.
ITC has gained around 0.6%. ITC has entered into Asset Purchase Agreements with M/s. Johnson & Johnson Ltd., India & M/s. Johnson & Johnson Pte. Ltd., Singapore for purchase of ‘Savlon’ and ‘Shower To Shower’ trademarks and other intellectual property, respectively, primarily for use in India.
Among losers, BHEL is down 3.4% after reporting sub-par quarterly results.
ONGC and GAIL have declined around 2% each.