 "Nifty targets 7,500 led by index heavyweights")
Markets extended gains in late morning trades, amid firm Asian cues, with mortage lender HDFC leading the gains.
At 11:25am, the S&P BSE Sensex was up 195 points at 24,665 and the Nifty50 was up 68 points at 7,492.
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(Updated at 11:25am)
Benchmark shares indices continued to trade higher, amid firm Asian cues, with index heavyweights leading the gains.
At 10:40am, the the S&P BSE Sensex was up 84 points at 24,554 and the Nifty50 was up 29 points at 7,453.
In the broader market, the BSE Midcap and Smallcap indices were trading flat with mixed bias. Market breadth 1,071 gainers and 898 losers on the BSE.
The Indian rupee was trading higher at 68.03 to the US dollar, up 21 paise compared to the previous close as exporters pressed sales in the US currency while gains in equities also lifted sentiment.
SECTORS & STOCKS
BSE Bankex and Realty indices were the sectoral losers while Consumer Durables, Metal, Oil & Gas were the top gainers.
Among the index heavweights, ITC, Reliance Industries and Infosys were up 1%-1.3% each.
HDFC was up over 1%. The mortgage lender posted 6.7% growth in standalone net profit at Rs 1,521 crore for the third quarter ended December 2015, on lower income from investments and higher provisions for standard loans. A Bloomberg poll had pegged net profit at Rs 1,564 crore for the December 2015 quarter.
Other Sensex gainers include, Sun Pharma, TCS and HUL among others.
ICICI Bank trimmed early losses and was down 4.2% after the private banking major reported a net profit of mere 4% in the third quarter at Rs 3,018 crore on account of higher provisioning. RBI has articulated the objective of early recognition of NPA resulting pressure on asset quality.
Maruti Suzuki was down nearly 2% after earnings were lower-than-expected. The auto major clocked a 27% y-o-y surge in net profit in Q3 FY16. Profit for the quarter stood at Rs 1,019 crore against Rs 802 crore in the same quarter last year. Also, the margins contracted on account of higher spend in advertising.
Among others, shares of Engineers India (EIL) were trading lower by 1% at Rs 192 on the BSE in early morning trade, extending its previous day’s 5% decline, after the government proposed 10% stake sale in the company through the offer for sale (OFS) which begins today.
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(updated at 9:35am)
Markets continued to trade firm in early deals on Friday with oil shares leading the gains amid a rebound in global crude oil prices. Further, a rebound in Asian shares after the negative interest rate policy stance by the Bank of Japan also boosted sentiment.
At 9:35am, the S&P BSE Sensex was up 153 points at 24,622 and the Nifty50 was up 52 points at 7,476.
"Nifty now needs to cross and hold above 7,450 zones to witness an up move towards 7,480 and 7,539 levels, while on the downside if it sustains below 7,420 zones a profit booking decline may drag it towards 7,380 and 7,365 zones. Traders are required to remain cautious ahead of the 3rd quarterly result season which may give stock specific action to the market," points out a morning note from Anand Rathi Research.
SECTORS & STOCKS
BSE Consumer Durables, Metal, Oil and Gas indices were the top sectoral gainers on the BSE while Bankex was the sole loser.
In the oil and gas space, RIL, ONGC and Cairn India were up 0.7%-3.2% each tracking a rebound in global crude oil prices.
L&T was up 0.7%, YES Bank dipped 2% while NTPC was up 1% ahead of their respective third quarter earnings to be announced later today.
Bharti Airtel posted a 22% decline in its net income at Rs 1,117 crore in the third quarter on the back of higher interest and spectrum costs. It registed a net income of Rs 1,436 crore in the same period last year. The stock was up nearly 1% after a correction in the previous session.
Car maker, Maruti Suzuki clocked a 27% y-o-y surge in net profit in Q3 FY16. Profit for the quarter stood at Rs 1,019 crore against Rs 802 crore in the same quarter last year. However, the profits stood below the street estimates. Also, the margins contracted on account of higher spend in advertisement. The stock was down 3.2%.
ICICI Bank was down 5% amid asset quality concerns. The private banking major reported a net profit of mere 4% in the third quarter at Rs 3,018 crore on account of higher provisioning. RBI has articulated the objective of early recognition of NPA resulting pressure on asset quality.
Other Sensex gainers include, HDFC, HDFC Bank, ITC and Sun Pharma, Infosys and TCS among others.
Among other shares, Titan was up nearly 3% after its third quarter profits grew 18 per cent to Rs 225 crore and increase in revenues by 17 percent to Rs 3426 crore as it pushed discounts to prop up sales in December
GLOBAL MARKET
Asian shares pared intra-day losses and the Nikkei surged 2.7% after the Bank of Japan adopted negative interest rate policy. Further, China's Shanghai Composite, Straits Times and Hang Seng were up 1%-3% each.
US stocks rallied on Thursday after oil prices rebounded on talk that major oil producers in the Middle East would cut back production. Facebook shares gained on robust earnings. Dow Jones, Nasdaq and S&P 500 ended up 0.6%-0.9% each.
At 11:25am, the S&P BSE Sensex was up 195 points at 24,665 and the Nifty50 was up 68 points at 7,492.
_________________________
(Updated at 11:25am)
Benchmark shares indices continued to trade higher, amid firm Asian cues, with index heavyweights leading the gains.
More From This Section
At 10:40am, the the S&P BSE Sensex was up 84 points at 24,554 and the Nifty50 was up 29 points at 7,453.
In the broader market, the BSE Midcap and Smallcap indices were trading flat with mixed bias. Market breadth 1,071 gainers and 898 losers on the BSE.
The Indian rupee was trading higher at 68.03 to the US dollar, up 21 paise compared to the previous close as exporters pressed sales in the US currency while gains in equities also lifted sentiment.
SECTORS & STOCKS
BSE Bankex and Realty indices were the sectoral losers while Consumer Durables, Metal, Oil & Gas were the top gainers.
Among the index heavweights, ITC, Reliance Industries and Infosys were up 1%-1.3% each.
HDFC was up over 1%. The mortgage lender posted 6.7% growth in standalone net profit at Rs 1,521 crore for the third quarter ended December 2015, on lower income from investments and higher provisions for standard loans. A Bloomberg poll had pegged net profit at Rs 1,564 crore for the December 2015 quarter.
Other Sensex gainers include, Sun Pharma, TCS and HUL among others.
ICICI Bank trimmed early losses and was down 4.2% after the private banking major reported a net profit of mere 4% in the third quarter at Rs 3,018 crore on account of higher provisioning. RBI has articulated the objective of early recognition of NPA resulting pressure on asset quality.
Maruti Suzuki was down nearly 2% after earnings were lower-than-expected. The auto major clocked a 27% y-o-y surge in net profit in Q3 FY16. Profit for the quarter stood at Rs 1,019 crore against Rs 802 crore in the same quarter last year. Also, the margins contracted on account of higher spend in advertising.
Among others, shares of Engineers India (EIL) were trading lower by 1% at Rs 192 on the BSE in early morning trade, extending its previous day’s 5% decline, after the government proposed 10% stake sale in the company through the offer for sale (OFS) which begins today.
____________________
(updated at 9:35am)
Markets continued to trade firm in early deals on Friday with oil shares leading the gains amid a rebound in global crude oil prices. Further, a rebound in Asian shares after the negative interest rate policy stance by the Bank of Japan also boosted sentiment.
At 9:35am, the S&P BSE Sensex was up 153 points at 24,622 and the Nifty50 was up 52 points at 7,476.
"Nifty now needs to cross and hold above 7,450 zones to witness an up move towards 7,480 and 7,539 levels, while on the downside if it sustains below 7,420 zones a profit booking decline may drag it towards 7,380 and 7,365 zones. Traders are required to remain cautious ahead of the 3rd quarterly result season which may give stock specific action to the market," points out a morning note from Anand Rathi Research.
SECTORS & STOCKS
BSE Consumer Durables, Metal, Oil and Gas indices were the top sectoral gainers on the BSE while Bankex was the sole loser.
In the oil and gas space, RIL, ONGC and Cairn India were up 0.7%-3.2% each tracking a rebound in global crude oil prices.
L&T was up 0.7%, YES Bank dipped 2% while NTPC was up 1% ahead of their respective third quarter earnings to be announced later today.
Bharti Airtel posted a 22% decline in its net income at Rs 1,117 crore in the third quarter on the back of higher interest and spectrum costs. It registed a net income of Rs 1,436 crore in the same period last year. The stock was up nearly 1% after a correction in the previous session.
Car maker, Maruti Suzuki clocked a 27% y-o-y surge in net profit in Q3 FY16. Profit for the quarter stood at Rs 1,019 crore against Rs 802 crore in the same quarter last year. However, the profits stood below the street estimates. Also, the margins contracted on account of higher spend in advertisement. The stock was down 3.2%.
ICICI Bank was down 5% amid asset quality concerns. The private banking major reported a net profit of mere 4% in the third quarter at Rs 3,018 crore on account of higher provisioning. RBI has articulated the objective of early recognition of NPA resulting pressure on asset quality.
Other Sensex gainers include, HDFC, HDFC Bank, ITC and Sun Pharma, Infosys and TCS among others.
Among other shares, Titan was up nearly 3% after its third quarter profits grew 18 per cent to Rs 225 crore and increase in revenues by 17 percent to Rs 3426 crore as it pushed discounts to prop up sales in December
GLOBAL MARKET
Asian shares pared intra-day losses and the Nikkei surged 2.7% after the Bank of Japan adopted negative interest rate policy. Further, China's Shanghai Composite, Straits Times and Hang Seng were up 1%-3% each.
US stocks rallied on Thursday after oil prices rebounded on talk that major oil producers in the Middle East would cut back production. Facebook shares gained on robust earnings. Dow Jones, Nasdaq and S&P 500 ended up 0.6%-0.9% each.