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Markets ended firm for the fourth straight session on sustained buying by fund and retail investors in sustained buying among frontline pharma, banks and auto shares.
Provisionally, the Sensex gained 260 points to end at 29,065 mark and the Nifty surged 82 points to close at 8,794 levels.
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(updated at 3.30PM)Benchmark indices continue to hold on to their gains following sustained buying among frontline pharma, banks and auto shares.
By 14:26 PM, the Sensex was higher by 250 points at 29,055 mark and the Nifty gained by 84 points at 8,796 levels. The broader markets are performing in-line with the benchmark indices- BSE Midcap and Smallcap indices are up nearly 1%.
Meanwhile, foreign portfolio investors sold shares worth a net Rs 406.28 crore yesterday, as per provisional data.
On the currency front, the rupee pared its early gains, but was still higher by 14 paise against the US dollar at Rs 62.14 in the noon trade today on sustained bouts of dollar selling by banks and exporters.
GLOBAL MARKETS
Japan's Nikkei share average fell on Friday, retreating from a 7-1/2-year closing high the previous day as investors took profits from gainers such as Fanuc Corp, but buying in cyclical stocks exposed to consumer demand limited the losses.
A ceasefire agreement between Russia and Ukraine also eased tensions in the market. The Nikkei shed 0.4% to 17,913.36, retreating from 17,979.72 marked on Thursday, the highest closing level since July 2007. For the week, the Nikkei gained 1.5%.
SECTORS & STOCKS
BSE Healthcare index has surged nearly 2% followed by counters like Banks, Consumer Durables, Capital Goods, FMCG, IT and Metal, all gaining by 1% each.
Shares of pharmaceutical companies are in demand and trading higher by up to 10% on the bourses after reporting a good set of numbers for the quarter ended December 2014 and expectation of strong export growth backed by better regulatory compliance track record and patent expiry.
Sun Pharmaceutical Industries, Lupin, Glenmark Pharmaceuticals, Cadila Healthcare, Cipla, Divi’s Laboratories and Ranbaxy Laboratories from the frontline pharmaceutical stocks are up 1-3% on the National Stock Exchange (NSE).
Cipla gained nearly 2% after the company, through its UK-based subsidiary Cipla (EU) Limited, entered into a joint venture (JV) agreement with Cipla’s existing business partners in Morocco – Societe Marocaine De Cooperation Pharmaceutique (Cooper Pharma) and the Pharmaceutical Institute (PHI).
Among banks, SBI is the top Sensex gainer. Shares of State Bank of India (SBI) has rallied 7% to Rs 304 on NSE after the state-owned bank said its gross non-performing assets (NPA) as a percentage to total advances rose marginally at 4.90% as on December 31, 2014 (Q3FY15) compared to 4.89% in September quarter. Gross NPA stood at 5.73% at the end of December 2013 quarter.
From the auto space, M&M has surged almost 4% post the announcement of Q3 numbers.
Tobacco-to-FMCG major ITC has gained over 1%. The company has entered into an agreement with health and pharma major Johnson & Johnson (J&J) to buy two of its brands- Savlon antiseptic soap and liquids, and Shower to Shower talcum powder.
Coal India has increased by almost 1.5%. The company recorded a 16% fall in its consolidated net profit to Rs 3,262 crore for the December quarter. The net profit in the year-ago quarter was Rs 3,894 crore. The net sales during the quarter under review stood at Rs 17,763 crore – a 5% rise over Rs 16,928 crore in the year-ago period.
Other notable gainers are TCS, Wipro, Hero Moto, Maruti Suzuki and Axis Bank.
On the losing side, shares of Bharat Heavy Electricals Limited (BHEL) are trading over 3% lower at Rs 259 on NSE after reporting a disappointing set of numbers for the quarter ended December 2014 (Q3).
GAIL, ONGC, Infosys, HDFC Bank and Hindalco are other losers from the Sense pack.
Among other shares, Max India is up over 3% at Rs 473 after the company reported strong growth in its third quarter net profit on the back of stake sale in Max Healthcare Institute Ltd (MHIL).
Shares of Patel Integrated Logistics are trading higher by 5% to Rs 137 on the BSE after it posted a three-fold increase in the net profit to touch 4.85 crore while the turnover rose by 11.25% at Rs 454 crore during the quarter ending on December 31 on the back of slash in diesel price.
