4:21 Sify Finance PM: The Indian stock market ended modestly higher on Thursday, bouncing back from the day's lows in the final hour thanks to some strong buying in information technology and healthcare stocks.
A few front line stocks from banking and oil sectors edged higher as well, contributing a bit to the market's positive close.
Earlier, after a shaky but slightly positive start, the market retreated and struggled to force its way up into positive territory, as investor appeared none too keen on picking up stocks.
Concerns about a slowing Chinese economy, weak eurozone growth, a declining rupee and higher crude oil prices weighed on the market. Investors were also reacting to the Coal Ministry's draft rules for auction/allocation of 204 coal blocks that were cancelled by the Apex court in September this year.
The BSE benchmark Sensex ended up 34.71 points or 0.12% at 28,067.56, after scaling a high of 28,118.53 and a low of 27,915.23 intraday. The Nifty index of the National Stock Exchange closed up 19.60 points or 0.23% at 8401.90.
3:55 Sify Finance PM: The BSE Sensex and Nifty edged up on Thursday as exporters such as Infosys Ltd rallied after the rupee fell to a nine-month low, although the weaker local currency tempered hopes of interest rate cuts.
Meanwhile, a television news channel reported that Kotak Mahindra Bank may buy ING Vysya Bank, sending both stocks to their record highs.
Infosys provisionally rose 1.1 percent, while Tata Consultancy Services ended up 1.4 percent.
The benchmark BSE Sensex closed 0.16 percent higher, while the broader Nifty gained 0.25 percent.
1:42 Sify Finance PM: Buy Sesa Sterlite if it breaks a resistance around Rs 245.
The stocks is likely to see some weakness in the near term.
1:21 Sify Finance PM: Hold Hindustan Unilever(Rs 756) with a stop loss at Rs 730 for near term.
Long term investors can buy at declines.
1:15 Sify Finance PM:
Buy Sadbhav Engineering (Rs 250) for medium to long term.
For short term, keep a stop loss near Rs 235.
12:47 Sify Finance PM:
Sell ACC with a stop loss of Rs 1475: ICICIDirect
12:36 Sify Finance PM:
Hold karnataka Bank(Rs 135) and add at declines for medium term.
The stock could rise to around Rs 155.
12:32 Sify Finance PM: Buy Tech Mahindra for the target prices of Rs 2670/2690/Higher with a stop loss of Rs 2615: ICICIDirect
12:27 Sify Finance PM: Buy Prakash Industries for the target price of Rs 68: Firstcall
12:16 Sify Finance PM: Tata Steel falls 0.7 pct, while Jindal Steel and Power is down 1.1 pct.
China flash PMI shows factory output shrank for first time in 6 months.
12:09 Sify Finance PM: Buy Gulshan Polyols for the target price of Rs 251: Firstcall
12:00 Sify Finance PM: With stocks swing between gains and losses amid listless trades, the Indian market is proving quite slippery this morning. A sluggish trend in global markets and a lack of positive triggers appear to be prompting investors to tread cautiously.
The Sensex is down 71.27 points or 0.25% at 27,961.58. The Nifty index of the National Stock Exchange is down 13.85 points or 0.17% at 8368.45.
In the forex market, the rupee declined to a nine-month low against the U.S. dollar. In early trades, the partially convertible Indian rupee was trading around 68.20 a dollar.
11:26 Sify Finance PM: Stay invested in Reliance Industries (Rs 973) for medium term gains.
For short term, keep a stop loss near Rs 940.
10:52 Sify Finance PM: The BSE Sensex was down 0.2 percent while the Nifty fell 1.16 percent
Blue-chips led the falls on profit-taking.
Tata Motors was down 1.3 pct, HDFC Bank fell 1.5 pct.
Kotak Mahindra Bank surged 5.6 percent, ING Vysya Bank rose 6.2 pct on speculation it will be acquired by Kotak.
Kotak, however, said no decision had been made in relation to any merger.
10:43 Sify Finance PM: Hindalco Industries gains 0.65 pct while Sarda Energy and Minerals surges 3.4 pct.
10:38 Sify Finance PM: Hold Wipro (Rs 565) with a stop loss near Rs 540 for short term.
Long term investors can consider fresh buying at declines.
10:31 Sify Finance PM: Jindal Saw (Rs 99) is likely to see a good upside in the near to medium term.
One can consider fresh buying at current levels. More can be added at declines.
10:29 Sify Finance PM: Support for Nifty is at 8350-8290 : Gaba
10:01 Sify Finance PM: After opening modestly higher, the Indian stock market has retreated and slipped into negative territory this morning, with investors looking for fresh triggers.
The overnight soft close on Wall Street following a somewhat negative reaction to the minutes of the Federal Reserve's October policy meeting, Asian markets are quite sluggish today. The mood back home, is cautious as well.
The BSE benchmark Sensex is down 55.69 points or 0.2% at 27,977.16, after rising to 28,118.53 in early trades. The Nifty index of the National Stock Exchange, which rose to 8410.10, is currently at 8371.20, down 11.10 points or 0.14% from its previous close.
9:22 Sify Finance PM: The market has opened on a positive note this morning.
The Sensex is up 8.95 points at 28,041.80, after rising to 28,118.53 at the start.
The Nifty, which rose to 8410.10, is currently up 0.75 points at 8383.05.
9:14 Sify Finance PM: The Indian stock market may open on a flat note this morning, tracking a sluggish trend in global markets.
Activity is likely to be stock specific with corporate news providing some direction.
Metal and power stocks will be in focus following the coal ministry placing on its website the draft rules for auction of 204 coal blocks cancelled by the apex court in September this year.
The rupee's movements and crude oil prices will be watched. Following the rupee's fall to a more than 8-month low, IT and pharma stocks may see some buying.