Live Markets Commentary

Source : SIFY
Last Updated: Mon, Oct 24, 2016 16:41 hrs
BSE Market

Live Markets Commentary

Sify Editors @  4:45 PM
Sensex ends 102 points up after choppy ride

After a positive start and a subsequent setback, the Indian stock market recovered, and despite staying sluggish for most part of the session, ended higher on Monday, thanks to some strong buying in oil and banking sectors. Positive lead from Asian and European markets and the rupee's recovery after a weak start aided sentiment.

A few stocks from automobile and metal sectors too edged higher, but the broad market was mostly sluggish with investors looking ahead to quarterly earnings reports from India Inc.

The BSE benchmark Sensex ended up 101.90 points or 0.36% at 28,179.08, after scaling a low of 28,075.95 and a high of 28,256.65 intraday. The Nifty50 of the National Stock Exchange, which declined to a low of 8684.15, closed at 8708.95, nearly 30 points off the day's high, gaining 15.90 points or 0.18%.

Sify Editors @  4:15 PM
Sensex ends higher; bank, auto stocks surge

Indian shares ended higher on Monday, driven by strong performances by ICICI Bank and Tata Motors, as investors gear up for a crucial week of quarterly results.

The Nifty closed up 0.18 percent at 8,708.95. The Sensex ended 0.36 percent higher at 28,179.08, after touching an over two-week high earlier in the session.

Oil and Natural Gas Corp was the biggest percentage gainer on the indexes.

Sify Editors @  3:45 PM
Sensex and the Nifty50 ended higher on Monday, despite some wild swings during the course of the session.

The Sensex ended up 101.90 points or 0.36% at 28,179.08.

The Nifty50 closed at 8708.95, up 15.90 points or 0.18%.

Oil, bank and automobile stocks moved up.

IT and Capital goods stocks were mostly weak.

Metal, power, realty, healthcare and FMCG stocks closed mostly flat.

Midcap and smallcap segments saw stock specific activity.

The market breadth was positive.

Sify Editors @  3:00 PM
Sensex pares some gains after smart upmove

Shares for oil sector are up in positive territory, and with the broad market holding in positive territory with select stocks from banking, automobile and metal sectors too trading firm, the key indices Sensex and the Nifty50 look headed for a higher close today.

The Sensex, which rose to 28,256.65, is now at 28,166.28, up 89 points or 0.32% from its previous close. The Nifty50 is up 17.40 points or 0.2% at 8710.45, off the day's high of 8736.95.

Sify Editors @  3:00 PM
Hold Torrent Power with a stop loss at Rs 166. Long term investors can add at declines.

Sify Editors @  2:40 PM
Buy IOC for medium term. The stock is likely to see modest upside in the near term.

Sify Editors @  2:10 PM
Hold Crompton Greaves with a stop loss at Rs 70 if looking at short term. Long term investors can buy the stock at declines

Sify Editors @  1:50 PM
Buy Ramco Cements if looking at medium term. Add more at declines.

Sify Editors @  1:30 PM
Punj Lloyd Ltd has announced that its wholly owned subsidiary Punj Lloyd Infrastructure has executed definitive agreements with India Infrastructure Fund II to divest three operating solar projects aggregating to 45 MW located in Punjab and Rajasthan subject to customary approvals and other conditions precedent.

Shares of Punj Lloyd Ltd rose to Rs 24.25 at the start of the session, and are currently traded at Rs 23.80, up 2.4% from previous closing price. Hold with a stop loss around Rs 20.

Sify Editors @  1:00 PM
Cairn India retreats after solid start

Cairn India started off on a bright note this morning, rising to Rs 235.90, after the company reported consolidated net profit of Rs 779 crore for the quarter ended September 2016, up 139% compared to the year-ago quarter.

On Standalone basis, Cairn India posted a net profit of Rs 473.05 crore for the quarter ended September 30, 2016 as compared to Rs 263.57 crore for the quarter ended September 30, 2015. Total Income has decreased from Rs. 14834.60 million for the quarter ended September 30, 2015 to Rs. 14514.00 million for the quarter ended September 30, 2016.

In its filing to the stock exchanges, the company said that its total income from operations declined 9% to Rs 2039 crore in the second quarter of 2016-17 from Rs 2242 crore in the same period a year ago.

The stock retreated subsequently due to profit taking and is currently trading at Rs 231.95.  It had ended at Rs 231.85 last Friday.

Sify Editors @  12:30 PM
Indian shares rose marginally on Monday, swinging between gains and losses and tracking muted Asian peers, as investors remained cautious ahead of a key week for quarterly results for companies such as HDFC Bank and Axis Bank .

The broader NSE Nifty was trading 0.05 percent higher at 8,697.40 as of 0557 GMT, after falling as much as 0.1 percent earlier in the session.

The benchmark BSE Sensex was up 0.13 percent at 28,113.85.

"I expect the market to be range-bound between 8,300-8,900 points," said R.K. Gupta, managing director of Taurus Asset Management.

"It could be difficult to break the resistance at 8,900 as results of IT companies and Reliance Industries has shown that earnings this quarter may be sluggish."

Bank stocks such as Canara Bank and Bank of Baroda rose more than 2 percent, with the Nifty Bank index extending gains from last week.

Sify Editors @  12:20 PM
Stay invested in Idea Cellular if looking for medium to long term gains. Add more at declines.

Sify Editors @  12:00 PM
Shares of LG Balakrishnan & Bros Ltd are up 17.5% on buoyant results.

The company engaged in auto parts and components manufacturing business reported a 22% increase in net profit to Rs 21.14 crore in the July - September 2016 quarter, from Rs 17.35 crore in the year-ago quarter.

Sify Editors @  11:30 AM
IRB Infrastructure
is a good one for medium to long term. Stay invested and add at declines.

Sify Editors @  11:10 AM
Mindtree hits near 2-1/2-year low; Q2 profit dips

IT services and consulting company Mindtree Ltd falls as much as 5.7 pct.

Stock hits lowest level since July 22, 2014.

Co posted 37 pct fall in Sep-qtr consolidated profit on Friday.

The volatile macroeconomic environment has resulted in slower ramp-ups and cautious spending in a few large clients across its verticals, Mindtree said.

Shares post biggest intraday percentage loss in nearly a month.

Nifty IT index falls as much as 1.49 pct, with Infosys Ltd down 0.3 pct and Tata Consultancy Services down 0.9 pct.

Sify Editors @  10:35 AM
Hold Indian Overseas Bank. Add on dips for long term.

Sify Editors @  10:15 AM
Oberoi Realty
posted consolidated net profit of Rs 83.72 crore in the quarter ended September 2016, as compared to Rs 75.45 crore in the year-ago period. For the half year ended September 2016, Oberoi Realty posted a net profit of Rs 192.59 crore as against Rs. 156.38 crore for the corresponding period last year.

Oberoi Realty shares are trading nearly 3% up at Rs 341.50 now.
Buy NTPC (Rs 150). Hold with a stop loss near Rs 135.

According to reports, the PSU company is close to crossing the milestone of over 50,000 MW installed power generation capacity by March 2017, as it expects to add over 4,630 MW in the coming months.

Sify Editors @  9:45 AM
Power Grid Corporation (Rs 177) announced on Saturday that its board has approved investment proposals worth Rs 1184.45 crore for power transmission related projects.

One can stay invested in the stock and use sharp declines to increase exposure for medium to long term.

Sify Editors @  9:15 AM
Sensex up 42 points amid cautious trades; Wipro, MindTree decline on weak results

The Indian stock market is marginally higher Monday morning, with investors making some purchases at select counters, amid slightly positive cues from Asian markets.

With several top notch companies scheduled to announce their second quarter earnings during the course of this week, activity is likely to be stock specific. Also, with near month derivatives contracts expiring on Thursday, some volatility is also likely.

The BSE benchmark Sensex is up 41.52 points or 0.15% at 27,118.70. Earlier, after rising to 28,192.20, the Sensex had declined to 28,075.95. The Nifty50 of the National Stock Exchange, which declined to 8684.15 after having advanced to 8723.05 earlier, is now at 8702.75, up 9.70 points or 0.11% from its previous close.

ICICI Bank is gaining 2.7%. GAIL India, Adani Ports and State Bank of India are up 1% - 1.7%. Maruti Suzuki, NTPC, Power Grid Corporation, Lupin, Tata Motors, Tata Steel and Reliance Industries are up 0.5% - 1%.

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