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Markets have once again turned choppy with Sensex and Nifty swinging between negative and positive zone.
By 14:27, the 30-share Sensex was at 27,888 up 60 points and the Nifty rose by 9 points at 8,443.
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Updated at 13:00
Benchmark indices continue to trade higher amid choppy trade supported by index heavyweight shares like Reliance Inds, ITC and HDFC.
By 13:00, the 30-share Sensex was at 27,927 up 98 points and the Nifty rose by 24 points at 8,458.
The top gainers on the Sensex are RIL, Cipla, Maruti Suzuki, L&T, HUL and NTPC, all surging between 2-3%.
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Updated at 11:30
Markets have inched higher led by buying in capital goods stocks and select index heavyweights like Reliance Industries and ITC.
At 11:30 AM, Sensex was at 27,958 levels, up by 130 points or 0.47 % while the Nifty touched the crucial mark of 8,450 to trade at 8,467, up by 34 points or 0.4%.
The broader markets are, however, underperforming the larger peers with BSE midcap and Smallcap indices trading up by 0.18 % and 0.29% respectively. The breadth of the market is positive with 1176 advances against 1084 declines on the BSE.
On the macro economic front, the Reserve Bank of India (RBI) is set to announce its bi-monthly monetary policy tomorrow, which would set the stage for the entire week on D-Street.
Meanwhile, the gross domestic product (GDP) data announced on Friday after hours, has maintained that India’s GDP grew at 7.3% for the FY15, which is slightly lower than the estimate of 7.4%.
SECTORS & BUZZING STOCKS
On the sectoral front, barring Healthcare and Auto indices, all other sectors are trading in green.
BSE Healthcare index has dipped 2.5% with Sun Pharma leading the downfall. Shares of Sun Pharma, the top loser on the BSE, have nosedived 8.5%. The pharma company has reported a decline of 44% in its fourth quarter net profit, on the back of the Ranbaxy acquisition. The company’s quarterly results missed the street’s expectations.
Other notable losers are Bharti Airtel, Tata Motors and ONGC, having dipped between 0.5-1.5 % each on the BSE.
On the gaining side, Reliance Industries is leading the charts on the BSE.
Shares of Reliance Industries have surged nearly 3% on the BSE after the announcement that the company has overtaken state-owned Oil and Natural Gas Corp (ONGC) to become the nation's most profitable company, posting a consolidated net profit of Rs 23,566 crore in the 2014-15 fiscal.
Maruti Suzuki has gained 1.75% on the BSE. The country’s biggest carmaker has reported a growth of 13 per cent in domestic sales for the month of May 2015, outperforming most of its rivals. This is the second consecutive month of double digit growth for the company. It grew 27 per cent in April.
From the capital goods pack, BHEL and L&T have gained between 1.1-1.3% each on the BSE. According to the HSBC purchasing managers’ index (PMI) data, the manufacturing activites for the month of May grew by a four month high.
Cipla, ITC, BHEL, Vedanta, Infosys, are some of the other notable gainers on the BSE, all gaining between 1.5-2.5%.
SMART MOVERS
Shares of India Tourism Development Corporation (ITDC) are locked in upper circuit of 20% at Rs 184 on the BSE after reporting nearly five-fold jump in standalone net profit at Rs 22.07 crore for the fourth quarter ended March 31, 2015 (Q4), on back of strong operational performance.
Shares of Just Dial are trading 1% higher at Rs 1,154 on the BSE after the company said that its board will meet on June 04, 2015, to consider the proposal to buy-back the fully paid-up equity shares of the company.
