 "Firm trend continues led by financials; Sensex hovers around 27,500")
Markets ended higher, amid firm global cues, after the European Central Bank on Thursday signalled that it would inject stimulus
The 30-share Sensex provisionally ended up 171 points at 27,459 and the 50-share Nifty ended up 45 points at 8,297.
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(Updated at 2:20pm)
Markets continued to trade firm in late noon trades on Friday with financials leading the gains. Meanwhile, signals from the European Central Bank (ECB) that it would inject more stimulus also aided sentiment.
At 2:20M, the 30 share Sensex was up 232 points at 27,519 and the CNX Nifty gained 58 points to trade at 8,310.
The broader markets are trading flat with BSE MidCap and SmallCap indices trading with marginal gains. Market breadth was strong with 1,369 gainers and 1166 losers on the BSE.
The Indian rupee was trading higher at 64.92 compared with Wednesday's close of 65.12 to the US dollar on the back of dollar sales by exporters and banks.
Meanwhile, foreign portfolio investors (FPIs) were net sellers to the tune of Rs 48.33 crore on Wednesday, 21 October 2015, as per provisional stock exchange data.
Further, Reserve bank of India (RBI) said on Thursday it will allow lenders to count short-term bullion deposits under the gold monetisation scheme as part of their cash reserve ratio or statutory liquidity ratios, increasing the appeal of the plan for the sector.
GLOBAL MARKETS
Asia shares edged higher with Japanese shares gaining the most post indications from the ECB that it would infuse more stimulus. Japan's benchmark Nikkei ended up 2% while Shanghai Composite ended up 1.3%. Hang Seng was up 1.3% while Straits Times gained 1.1%.
European shares were also trading higher after a firm opening. The FTSE-100, CAC-40 and DAX were up 0.6-1.3% each.
SECTORS & STOCKS
BSE Bankex was the top gainer followed by FMCG, Oil&Gas, Power, Metal and Healthcare among others.
Oil stocks gained after gains in global crude oil prices. ONGC, Reliance Industries and Cairn India were up 0.5-3% each.
Financials were the top gainers, HDFC, ICICI Bank, HDFC Bank, Axis Bank and SBI were up 1.5-2% each.
Bajaj Auto was up 0.5%. The company is set to launch four new motorcycles in the market soon as part of its plans to capture over 22% share by the end of this fiscal.
Sun Pharma trimmed early gains was trading flat. The company along with its subsidiary has entered into a settlement agreement with Acorda Therapeutics. Inc. to resolve the pending patent litigation involving Ampyra (dalfampridine) extended-release tablets in the United States.
Wipro was down 1.7%. The IT major reported 7% net profit growth in the September quarter to Rs 2,235 crore. The company, however, cautioned that lower productivity for clients during the holiday season in the US and Europe could hit business in the October-December quarter.
With revenue of Rs 12,513 crore, it met the lower end of its guidance. Margins, at 20.7 per cent, were slightly lower than the 21 per cent reported in the previous quarter.
Among other shares, VIP Industries has locked in upper circuit of 20% at Rs 103 on the BSE after reported four-fold jump in net profit at Rs 15.7 crore for the quarter ended September 30, 2015 (Q2), on back of strong net sales.
Shares of Kansai Nerolac were up over 2% at Rs 262 after net profit for the quarter ended September 30, 2015 rose 33% to Rs 96.9 crore compared with Rs 72.7 crore in the same quarter last fiscal on the back of higher EBDITA margins.
