Sensex Shows Late Recovery, Ends 100 Points Higher

Sensex Shows Late Recovery, Ends 100 Points Higher
3:40 a.m.: The Sensex staged a smart recovery in the last 30 minutes of trade to end 100 points higher at 26,686. 

The Nifty settled 33 points higher to close 8,047 after buying in banking, auto and power stocks resumed.

For the most part of the day, the Sensex traded in the negative territory but it rebounded over 350 points from the intraday low levels.

Buying at lower levels in banking, auto, power, consumer durables and IT stocks helped the Sensex and Nifty to end on a positive note.

From the Nifty-50 basket of stocks, 34 stocks ended higher while 16 stocks ended on a negative note.

IndusInd Bank was the top Nifty gainer, it ended 3.4 per cent higher at Rs 821. Tata Power, NMDC, Punjab National Bank, State Bank of India, Tata Motors, ACC, NTPC, HUL and ICICI Bank also closed higher.

The broader markets managed to end higher, the BSE mid-cap index advanced 0.76 per cent and the small-cap index jumped 0.34 per cent.

3:30 p.m.: The Sensex provisionally ended 100 points higher at 26,686 and the Nifty advanced 33 points to settle at 8,047.

3:29 p.m.: Jet Airways shares surge 16.5 per cent to hit intraday high of Rs 294.90. Trading volumes on the counter surged over 3.5 times as 8.96 lakh shares changed hands on the BSE compared to its two-week average of 2.58 lakh shares.

3:27 p.m.: Tata Motors jumps 2 per cent to Rs 435 on the back of short covering rally. Meanwhile, Ruchit Jain technical analyst with Angel Broking said that the stock can go up to Rs 455-460 levels where it will face resistance again.

3:24 p.m.: Two wheeler stocks are looking goods on charts and one can buy stocks such as Eicher Motors, TVS, Bajaj Auto and Hero MotoCorp on declines, says Ruchit Jain of Angel Broking.

3:21 a.m.: Overall breadth on the Bombay Stock Exchange was neutral as 1,207 stocks were advancing while 1,384 were declining.

3:18 p.m.: The broader markets also showcase a smart recovery. The BSE mid-cap index was up 0.7 per cent and the small-cap index jumped 0.3 per cent. Oberoi Realty, Indian Bank, Union Bank of India, L&T Finance Holdings and Tata Communications were among the top gainers.

3:14 p.m.: The markets showcased a smart recovery in the last 30 minutes of trade. The Sensex was up 127 points at 26,713 and the Nifty advanced 40 points to 8,054.

3:09 p.m.: Recovery in markets led by buying in banking, power, auto and consumer durable stocks. Bank Nifty which traded in the negative territory saw buying at lower levels and was up 0.7 per cent.

3:06 p.m.: Ruchit Jain, technical analyst at Angel Broking, said that Nifty could move to 8150-8200 in this pullback rally but it could see pressure at higher levels.

2:59 p.m.: Markets move into positive zone. Sensex up 48 points to 26,634 while Nifty adds 18 points to inch up to 8,031.

2:34 p.m.: Banking stocks showcase a smart recovery. The Bank Nifty which was trading in red was up 0.2 per cent. Stocks such as State Bank of India, Yes Bank, ICICI Bank, Punjab National Bank and IndusInd Bank were among the top gainers.

2:20 p.m.: PSU banking stocks witness buying at lower levels. CNX PSU Bank index jumps 0.7 per cent; Union Bank, Canara Bank, Punjab National Bank and Bank of Baroda were among the top gainers.

2:15 p.m.: The Sensex has come off the intraday low levels on buying in IT stocks. The Sensex which touched low of 26,379 was down 85 points at 26,501 and the Nifty was down 25 points at 7,988.

2:04 p.m.: The Sensex fell 204 points to 26,383 and the Nifty was hovering around 7,950 as selling pressure picked up pace in the afternoon trades. 

Selling pressure was visible across the sectors. Capital goods, FMCG, oil & gas and realty stocks were among the worst hit.

From the Nifty-50 basket of stocks, 33 stocks were declining while 17 were advancing.

1:50 p.m.: SKF India, Suzlon Energy, Fag Bearings, BHEL, AIA Engineering, Thermax, ABB and Siemens were the top losers from the capital goods space.

1:35 p.m.: Ramky Infrastructure shares rose nearly 5 per cent to hit an intraday high of Rs 30.75 on Tuesday after six lenders from a consortium of nine banks approved Ramky's debt restructuring plan.

1:15 p.m.: Declining stocks outnumbered the stocks which were advancing as 1,520 stocks were declining while 840 were advancing.

1:08 p.m.: Markets near day's low; Sensex falls 129 points to 26,457 and Nifty was down 40 points at 7,973.

1:00 p.m.: European stock markets trade with a negative bias; Germany's DAX was down 0.93 per cent, French CAC 40 index fell 0.95 per cent and UK's FTSE 100 index slipped 0.41 per cent.

12:50 p.m.: Sensex fell 105 points to 26,481 and the Nifty was down 32 points at 7,982 on the back of broad-based selling.

12:42 p.m.: Allahabad Bank, Bank of Baroda, Dena Bank, EID Parry India Limited and Balrampur Chini Mills Limited trade at 52-week low on the National Stock Exchange.

12:30 p.m.: Unitech, Jaiprakash Associates, Essar Oil, Suzlon Energy, ICICI Bank and Reliance Communications were among the most actively traded stocks in terms of volumes on the National Stock Exchange.

12:16 p.m.: Anil Dhirubhai Ambani Group shares fall; Reliance Infrastructure, Reliance Capital, Reliance Communication, Reliance Power and Reliance Capital were trading 0.7-3 per cent lower.

12:08 p.m.: Losses in blue-chip stocks such as HDFC, ICICI Bank, Reliance Industries, HDFC Bank, Axis Bank and Tata Motors shaved off 93 points from the Sensex.

11:57 a.m.: GAIL India, Punjab National Bank, NMDC, Tata Power, Coal India and IndusInd Bank were among the gainers on the Nifty.

11:47 a.m.: Shares of Biocon rose as much as 3 per cent on Tuesday after the research arm of the biotechnology major received the capital markets regulator's approval to launch an initial public offer (IPO). (Click here for more)

11:40 a.m.: Market expert, Ajay Bagga says that the Indian markets are going down and if problems in Greece aggravate then Nifty can fall to 7,500-7,600 levels.

11:32 a.m.: Reports suggest that the government is planning to sell 3 per cent stake in Bharat Petroleum. BPCL stocks were down 0.4 per cent at Rs 830.

11:27 a.m.: Russia's Rosneft is in talks to buy stake in Essar Oil. Share price reacts negatively to this development, down 2.3 per cent at Rs 143.05. (Click here for more)

11:15 a.m.: Broader markets face the heat of selling pressure; BSE mid-cap index down 0.01 per cent and the small-cap index slips 0.1 per cent. United Breweries, Unitech, Essar Oil, J P Associates, JP Power, Adani Power and Reliance Infrastructure were among the top losers.

11:05 a.m.: Real estate stocks trade with a negative bias; Unitech, Anant Raj Industries, Prestige, HDIL and DLF were among the top losers.

10:47 a.m.: Bank Nifty slips 86 points to 17,372; Kotak Mahindra Bank falls 1.2 per cent to Rs 1,275 after FIPB defers proposal to raise investment limit for the foreign institutional investors. Kotak Mahindra Bank had sought for FIPB approval for raising investment limit by FIIs to 55 per cent.

ICICI Bank, Axis Bank, HDFC Bank, Federal Bank and Yes Bank also trade with a negative bias.

10:35 a.m.: Sensex falls 67 points to 26,519 and Nifty slips 21 points to 7,993.

10:30 a.m.: May trade deficit widens to $10.4 billion. Exports fell 20.2 per cent to $23.2 billion and imports shrunk 16.5 per cent to $ 32.8 billion on a year on year basis.

10:24 a.m.: Nifty 8,200 call option was the most active options contract on the National Stock Exchange. The contract premium fell 27 per cent to Rs 17.55 as many as 2.59 lakh shares have been added to the open interest which was at 4.6 million shares.

10:17 a.m.: Selling pressure visible across the board; banking, power, realty, capital goods, consumer durables, FMCG and pharma stocks were among the worst hit.

10:10 a.m.: Market expert, Ajay Bagga, says, that the markets will go down further and there is no optimism in the markets on the back of Greek concerns.

10:03 a.m.: Nestle shares fall over 2 per cent to Rs 5,808 after the company on Monday said that  it would take a hit of more than Rs 320 crore from the continuing withdrawal and destruction of its Maggi instant noodles.

9:50 a.m.: Reliance Communications shares jumped 3 per cent in early trade on Tuesday following the company's announcement yesterday that it was in exclusive talks to buy Russian conglomerate Sistema's Indian mobile phone operations through a stock swap. (Read)

9:44 a.m.: Markets extends losses with Sensex down over 100 points to 26,483.Nifty off 30 points to 7,982.

9:40 a.m.: M&M gains over 1 per cent in early trade on aerospace deal with Airbus but pares gains. (Read)

9:35 a.m.: Cairn India, Bank of Baroda, HDFC, ICICI Bank, Bosch, Kotak Mahindra Bank, Idea Cellular, BHEL and Zee Entertainment among the top losers on the Nifty.

9:25 a.m.: The markets opened on a weak note in trades on Tuesday tracking weak global cues. The Nifty slipped below its crucial psychological level of 8,000 and the Sensex fell over 90 points.

Meanwhile, selling pressure was visible in banking, capital goods and IT stocks. The Bank Nifty was top sectoral loser, down 0.5 per cent.

From the Nifty-50 basket of stocks, 29 stocks were declining while 21 stocks were advancing.

Cairn India was the top sectoral loser, down 2 per cent at Rs 183.80. Bank of Baroda, ICICI Bank, HDFC, Kotak Mahindra Bank, Idea Cellular, Bosch, BHEL, IndusInd Bank and HDFC Bank were also trading 0.5-1.7 per cent lower on the Nifty.

The broader markets were trading on a subdued note. The BSE mid-cap index was up 0.05 per cent while the small-cap index was down 0.05 per cent.

9:15 a.m.: Markets edge lower on weak global cues; Sensex slips 52 points to 26,534, Nifty below 8,000.

9:00 a.m.: Rupee opens higher at 64.05/dollar against Monday's close of 64.16.

8:45 a.m.: UBS has recommended buy on Bharat Forge with target of Rs 1,500 per share and CLSA has maintained its buy call on Sun Pharma for target of Rs 1,130 per share. (Click here for more brokerage calls)

8:25 a.m.: Below are the stocks which will be in focus today:

Reliance Communication: Reliance Communication (RCom) will be in focus today after news reports post the market hours on Monday surfaced which suggested that Anil Ambani-controlled Reliance Communications is in talks with Russia's Sistema for a potential merger of their India telecom businesses, the company said in a statement to the Bombay Stock Exchange. The merger could take place through a share swap. (Click here for more)

Oil marketing companies: State run oil marketing companies such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum will be in focus today after they increased the petrol prices by 64 paise and reduced the diesel prices by Rs 1.35 per litre.

Kotak Mahindra Bank: Kotak Mahindra Bank will be in focus today as FIPB deferred Kotak Bank's proposal to raise investment limit for the foreign institutional investors. Kotak Mahindra Bank had sought for FIPB approval for raising investment limit by FIIs to 55 per cent.

Nestle: Nestle has said that loss from ban of Maggi has so far reached Rs 320 crore. Management says that there would be additional costs to take into account and Maggi accounts for 30 per cent of total sales for Nestle.

Mahindra & Mahindra: Mahindra & Mahindra will be in action as its subsidiary Mahindra Aerospace bagged multi-million dollar deal with Airbus. The scope of the deal encompasses manufacturing and supply of aero components to Airbus.

Aurobindo Pharma: Aurobindo Pharma has got USFDA nod for extended phenytoin sodium capsules.

Adani Group: Adani Group stocks will be in focus as Adani Group inked joint venture with Rajasthan government for setting up solar power park. Adani Group targets to produces 10,000 megawatt of electricity by 2022.

Biocon: Biocon's arm Syngene International has got SEBI approval for IPO.

8:20 a.m.: Asian stocks were subdued early on Tuesday as financial markets braced for the possibility of Greece defaulting on its debt, while a two-day policy meeting of the U.S. Federal Reserve's monetary committee starting later in the session also counselled caution.

8:15 a.m.: Global stocks fell on Monday after Greek debt talks collapsed. Risky assets like equities and crude oil were widely lower, though major stock indexes ended off their lows of the session and the euro recovered from earlier weakness against the dollar to trade slightly higher.

The Dow Jones industrial average fell 107.54 points, or 0.6 per cent, to 17,791.3, the S&P 500 lost 9.67 points, or 0.46 per cent, to 2,084.44 and the Nasdaq Composite dropped 21.13 points, or 0.42 per cent, to 5,029.97. The benchmark S&P earlier fell 1 per cent before recouping about half of that decline in afternoon trading.

8:10 a.m.: Foreign institutional investors (FIIs) sold shares worth Rs 604 crore while the domestic institutional investors purchased shares worth Rs 650 crore on Monday.

8:05 a.m.: The Nifty is likely to see a flat opening on the back of subdued trading of Nifty seen on the Singapore Stock Exchange. The SGX Nifty was down 0.09 per cent or 7 points at 7,992.

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