 "Sensex hits 28,000, Nifty holds 8,450; SBI, ITC surge")
Benchmark indices have extended gains and are trading near day’s high led by financials and index heavyweights like ITC and RIL.
At 10:55, the 30-share Sensex was higher by 180 points at 27,990 after hitting 28,000 mark and the Nifty gained 43 points at 8,464.
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Benchmark indices have extended gains with financials and FMCG majors leading the upmove.
At 10:40, the 30-share Sensex was higher by 150 points at 27,959 and the Nifty gained 36 points at 8,456.
The top gainers on the Sensex are SBI, ITC, ONGC, HDFC and ICICI Bank, up between -3%.
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Updated at 10:10
Benchmark indices continue to trade higher amid choppy trades led by FMCG and financial shares.
By 10:10, the 30-share Sensex was higher by 83 points at 27,892 and the Nifty gained 13 points at 8,434.
However, the broader markets are performing in line with the benchmark indices- BSE Midcap and Smallcap indices are up 0.4% each.
The market breadth is positive on the BSE with 1,043 shares advancing versus 716 shares declining.
Further, foreign portfolio investors sold shares worth a net Rs 186.26 crore yesterday, as per provisional data.
In the currency front, the rupee was up marginally by 5 paise to 63.59 against the US dollar in early trade today on continued selling of the American currency by banks and exporters.
Meanwhile, Coal India, ITC and State Bank of India will announce their Q4 results today.
ASIAN MARKETS
The Bank of Japan maintained its massive stimulus programme and offered a slightly more upbeat view of the world's third-largest economy on Friday, as a modest rebound in consumption helped service-sector sentiment improve to a one-year high.
A Reuters poll showed retailers' mood turned positive in May and hit the highest level since June last year, when sales were reeling after a sales tax increase.
SECTORS & STOCKS
BSE FMCG and Bankex indices are up over almost 1% each. However, BSE IT, Auto, Metal and Power indices are trading marginally lower.
The top gainers on the Sensex are SBI, ITC, ONGC, Cipla, Tata Steel, GAIL and Tata Motors, all gaining between 1-3%.
SBI and ITC are trading firm ahead of Q4 numbers.
BHEL, L&T, HDFC, ICICI Bank and Axis Bank have gained nearly 1% each.
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.
Shares of Tata Steel fell to their lowest in a month yesterday after the country's top producer of the alloy reported a loss bigger than analysts' estimates. The stock has rebounded in trades today.
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.
Among other shares, Britannia Industries has soared by more than 8% in early trades after its net jumped by 55% to Rs 167 crore in Q4.
Voltas has strengthened by more than 7% this morning due to a rise in net profits in the fourth quarter.
At 10:55, the 30-share Sensex was higher by 180 points at 27,990 after hitting 28,000 mark and the Nifty gained 43 points at 8,464.
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More From This Section
Updated 10:40
Benchmark indices have extended gains with financials and FMCG majors leading the upmove.
At 10:40, the 30-share Sensex was higher by 150 points at 27,959 and the Nifty gained 36 points at 8,456.
The top gainers on the Sensex are SBI, ITC, ONGC, HDFC and ICICI Bank, up between -3%.
**************************
Updated at 10:10
Benchmark indices continue to trade higher amid choppy trades led by FMCG and financial shares.
By 10:10, the 30-share Sensex was higher by 83 points at 27,892 and the Nifty gained 13 points at 8,434.
However, the broader markets are performing in line with the benchmark indices- BSE Midcap and Smallcap indices are up 0.4% each.
The market breadth is positive on the BSE with 1,043 shares advancing versus 716 shares declining.
Further, foreign portfolio investors sold shares worth a net Rs 186.26 crore yesterday, as per provisional data.
In the currency front, the rupee was up marginally by 5 paise to 63.59 against the US dollar in early trade today on continued selling of the American currency by banks and exporters.
Meanwhile, Coal India, ITC and State Bank of India will announce their Q4 results today.
ASIAN MARKETS
The Bank of Japan maintained its massive stimulus programme and offered a slightly more upbeat view of the world's third-largest economy on Friday, as a modest rebound in consumption helped service-sector sentiment improve to a one-year high.
A Reuters poll showed retailers' mood turned positive in May and hit the highest level since June last year, when sales were reeling after a sales tax increase.
SECTORS & STOCKS
BSE FMCG and Bankex indices are up over almost 1% each. However, BSE IT, Auto, Metal and Power indices are trading marginally lower.
The top gainers on the Sensex are SBI, ITC, ONGC, Cipla, Tata Steel, GAIL and Tata Motors, all gaining between 1-3%.
SBI and ITC are trading firm ahead of Q4 numbers.
BHEL, L&T, HDFC, ICICI Bank and Axis Bank have gained nearly 1% each.
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.
Shares of Tata Steel fell to their lowest in a month yesterday after the country's top producer of the alloy reported a loss bigger than analysts' estimates. The stock has rebounded in trades today.
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.
Among other shares, Britannia Industries has soared by more than 8% in early trades after its net jumped by 55% to Rs 167 crore in Q4.
Voltas has strengthened by more than 7% this morning due to a rise in net profits in the fourth quarter.