Sensex Ends 54 Points Higher; RIL Jumps 2%

Sensex Ends 54 Points Higher; RIL Jumps 2%
The Sensex and Nifty ended today's session marginally higher led by gains in index heavyweight Reliance Industries, ICICI Bank and HDFC.

For the most part of the day, the Sensex and Nifty traded in a very tight range. In intraday deals, the Sensex touched high of 26,489 and low of 26,307 and the Nifty traded in a range of 55 points.

Reliance Industries was among the top gainers on the Nifty. It closed 1.7 per cent higher at Rs 891.50 after RIL's chairman Mukesh Ambani outlined strong future prospects for the company at its annual general meeting in Mumbai.

Tata Power, Kotak Mahindra Bank, IndusInd Bank, Maruti Suzuki and HDFC Bank were also among the gainers.

On the other hand, TCS and Infosys shares fell in trades today weighing on the upward movement of the Nifty after news reports surfaced that the US government has ordered probe against two of the biggest Indian outsourcing companies for possible violations of H1-B visa rules.

Infosys shares fell 1.13 per cent and TCS plunged 2.5 per cent.

Tata Motors shares fell to 52-week low of Rs 421 after the company reported that its sales of luxury car brand Jaguar-Land Rover declined in the month of May.

NMDC, Vedanta, Hindalco, HCL Technologies, L&T, Coal India and Bank of Baroda were also among the laggards.

On the sectoral front, Bank Nifty advanced 1.3 per cent on the back of buying in private sector lenders. Energy, pharma index also ended marginally higher. IT, capital goods, consumer durables and realty indices edged lower.

The broader markets ended on a mixed note. The BSE mid-cap index advanced 0.36 per cent while the small-cap index closed 0.3 per cent lower.

3:30 p.m.: Sensex ends 54 points higher at 26,425 and Nifty settles at 7,982, up 17 points

3:29 p.m: Jubilant Foodworks is up 2.57 per cent at Rs 1,739.80. In an analysts meet the company said that it is optimistic on demand outlook. The company expects double digit growth in same-store-sales in next two-four quarters. Jubilant Foodworks plans to enter 100 new towns in next two years.

3:28 p.m.: Ashish Chaturmohta of Fortune Equity told NDTV that Tata Motors is trading at its 52-week low price and the stock is continuously witnessing selling pressure and more weakness is expected as it broke its crucial support at Rs 430. From here the stock can go to Rs 390 levels on the downside.

3:20 p.m.: IT stocks showcase partial recovery. CNX IT index which fell as much as 2.5 per cent is down 1.2 per cent.

3:15 p.m.: Nifty 8,200 call option is the most active contract in the derivative segment on the National Stock Exchange. 3.48 lakh shares added to the open interest.

3:10 p.m.: Nifty is in a tight range and weekly closing above 7,905 is crucial for a pullback to happen in the markets, says Ashu Bagri deputy head-technical analyst with SBICap Securities.

3:00 p.m.: Sensex up 44 points at 26,415.24 and Nifty rises 10.45 points to 7,975.80 as banking stocks gain. The Bank Nifty is up 1.2 per cent.

2:50 p.m.: IT stocks continue to trade lower. The BSE IT index is down 1.8 per cent as reports suggested that the US government has ordered probe against Infosys and TCS for possible violation of H1-B visa rules.

Mayuresh Joshi, fund Manager at Angel Broking said there won't be much financial implication on these IT companies due to this probe.

2:40 p.m.: The Sensex is trading in a tight range; It was up 28 points at 26,399 and the Nifty advanced 3 points to 7,968.

2:38 p.m.: Mayuresh Joshi of Angel Broking told NDTV that weakness in the markets is because of reasons such as earnings not catching up with valuations, RBI indicating bleak chance of rate cut going ahead and expectations of a weak monsoon. He says that the Nifty in the near term can fall to 7,600. However, Mr Joshi says that it is a good time for investors to buy good quality stocks from a long term investment perspective.

2:30 p.m.: BSE Capital Goods index falls 0.82 per cent; Sadbhav Engineering, BEML, Alstom T&D, Larsen & Toubro and Siemens were among the top losers.

2:20 p.m.: The markets edged lower in the afternoon deals on the back of selling in IT and metal stocks. The BSE IT index fell 2.5 per cent and the metal index plunged 1.6 per cent. Auto, capital goods and pharma stocks were also facing selling pressure.

1:50 p.m.: The markets were trading on a muted note in trades tracking subdued trading visible across sectors. The Sensex was up 24 points and the Nifty jumped 1 point to 7,966. 

The IT stocks came under selling pressure in afternoon trades after the US government ordered probe against Infosys and TCS for possible violations of H1-B visa rules, according to a media report.

The BSE IT index fell 1.5 per cent. Shares such as blue-chip IT counters like TCS, HCL Tech, Wipro and Infosys fell 1-2 per cent each.

On the other hand, Reliance Industries was among the top gainers on the Nifty after its Chairman Mukesh Ambani outlined future plans of the company. RIL shares advanced nearly 2 per cent.

1:39 p.m.: Broader markets underperform benchmark indices. The BSE mid-cap index slips 0.1 per cent and small-cap index falls 0.55 per cent.

1:23 p.m.: NMDC, Vedanta, HCL Technologies, Power Grid, Tata Motors, Wipro and Hindalo were among the top losers on the Nifty. On the other hand, Tata Power, Bajaj Auto, HDFC, Reliance Industries, Cipla and ICICI Bank were among the gainers.

1:17 p.m.: BSE Consumer Durables index falls 1.6 per cent; Symphony Limited, Videocon Industries, Titan Company, Lloyd Electric and Whirlpool were among the losers.

1:14 p.m.: Bad loans have come down to 5.2% as of march 2015, says Arun Jaitley

1:05 p.m.: Bank Nifty jumps 0.66 per cent as Finance Minister Arun Jaitley briefs press after his meeting with bankers.

1:02 p.m.: Reliance Industries advances 1.6 per cent to Rs 890 on future growth prospects outlined by Chairman Mukesh Ambani at its annual general meeting.

12:49 p.m.: The BSE IT index has slipped 1.4 per cent; IT heavyweights such as Wipro, TCS, HCL Tech and Infosys fall 1-2 per cent each.

12:36 p.m.: TCS slips 1.8 per cent to Rs 2,525 and Infosys down 0.5 per cent as US opens probe against TCS, Infosys for H1-B visa violations.

12:24 p.m.: The Sensex was up 63 points at 26,434 and the Nifty advanced 14 points to 7,979 in the noon deals. Meanwhile, banking stocks which were trading with a negative bias were back on investors radar.

12:04 p.m.: ABG Shipyard shares surge as much as 12 per cent to hit intraday high of Rs 186.70 as company plans to sell its stake to Germany based Privinvest.

11:53 a.m.: Banking stocks rebound. Bank Nifty up 0.2 per cent; ICICI Bank, Axis Bank, Canara Bank, Kotak Mahindra Bank and IndusInd Bank were among the gainers.

11:48 a.m.: Reliance Industries to complete Rs 2 lakh crore of projects over the next 12-18 months.

11:42 a.m.: Mukesh Ambani, chairman of Reliance Industries says that Reliance Jio's commercial operations will start from December and it is present in all states of India.

11:34 a.m.: Reliance Industries to take up e-commerce initiative for fashion will provide a marketplace platform, says Mukesh Ambani. RIL shares up 1.12 per cent at Rs 887.

11:28 a.m.: Selling pressure visible in most of the sectors. Metal, banking, power, realty, auto, capital goods, consumer durables and healthcare stocks among were the worst hit.

11:22 a.m.: Markets trade on a lacklustre note. Sensex up 4 points at 26,374 and the Nifty slips 5 points to 7,960.

11:19 a.m.: Reliance Industries plans to recommission all fuel retail outlets by 2015-16, says Mukesh Ambani at annual general meeting. RIL shares off day's high, up 0.72 per cent at Rs 883.50.

11:15 a.m.: Sensex continued to trade on a flat note in the early noon deals. Selling pressure was visible in metal stocks. The BSE metal index was down 1.5 per cent; Jindal Steel, Vedanta, JSW Steel, Hindalco, NMDC and SAIL were among the top losers.

11:09 a.m.: Raised highest amount of debt capital at competitive rates: RIL chairman Mukesh Ambani at annual general meeting.

11:05 a.m.: Reliance Industries up 1 per cent at Rs 886; RIL chairman Mukesh Ambani starts his speech.

10:58 a.m.: Sensex up 48 points at 26,418 and Nifty up 8 points at 7,973 ahead of Reliance Industries annual general meeting.

10:50 a.m.: Reliance Industries trades 1.5 per cent higher at Rs 890.15 ahead of its annual general meeting which starts at 11:00 a.m. (Click here for more)

10:45 a.m.: The markets continue to trade on a flat note. The Sensex was up 61 points at 26,432 and the Nifty was up 13 points at 7,978.

10:30 a.m.: Ambareesh Baliga, an independent market analyst, says that this is a good correction in a long term bull market and one should slowly start buying stocks at lower levels.

10:20 a.m.: Reliance Industries trades 1 per cent higher at Rs 886 ahead of its annual general meeting which will start at 11:00 a.m.

10:09 a.m.: Stocks of Mastek slumped on Friday following the demerger of its insurance products and service business. The record date for the demerger has been fixed at June 15. (Click here for more)

10:00 a.m.: Banking stocks fall for second consecutive day; Bank Nifty down 0.32 per cent. Bank of Baroda, IndusInd Bank, HDFC Bank, Kotak Mahindra Bank, Bank of India and Yes Bank were among top losers.

9:45 a.m.: Tata Motors shares hits 52-week low; fall 2 per cent to Rs 421.45 as Jaguar-Land Rover May sales decline. (Click here for more)

9:40 a.m.: Tata Power was the top gainer among the Nifty stocks. The stock advanced 1.4 per cent to Rs 71. Asian Paints, Reliance Industries, BPCL, Infosys and Wipro were also among the gainers.

On the other hand, Vedanta, Bank of Baroda, Tata Motors, IndusInd Bank, Kotak Mahindra Bank, Coal India and Tech Mahindra were among the laggards.

9:35 a.m.: Selling pressure visible in banking, metal, auto and power stocks. On the other hand, oil & gas stocks witness buying ahead of Reliance Industries AGM.

9:30 a.m.: Markets have turned flat; the Sensex was up 16 points at 26,387 and the Nifty down 6 points at 7,958.

9:18 a.m.: The Sensex and Nifty have opened lower on the back of selling in auto, metal, banking and power stocks. The Sensex slipped 63 points to 26,307 and the Nifty fell 24 points to 7,940. 

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

9:00 a.m.: Rupee opens flat at 63.96/dollar against Thursday's close of 63.97.

8:55 a.m.: Foreign institutional investors (FIIs) sold shares worth Rs 622.8 crore in trades on Thursday. In the last eight trading sessions, the FIIs have sold shares worth Rs 4,393 crore.

8:44 a.m.: Swiss brokerage major UBS has revised downwards its Nifty target for end of the year to 8,600 from 9,200 earlier as investors are worried about the adverse impact on growth/inflation from a potential weak monsoon ahead. (Click here for more)

These stocks will be in focus today

8:36 a.m.: Reliance Industries: Reliance Industries annual general meeting will be a key event the traders would watch out for. Reliance Industries chairman Mukesh Ambani will start speaking at 11:00 a.m. Crucial things to watch out for would be RIL's roll out plans for company's telecom venture and it may declare Reliance Jio's launch day. Last year at the AGM, RIL revealed that it will launch 4G services in 2015.

Reliance Infrastructure: Reliance Infrastructure has completed refinancing project borrowings of Mumbai Metro. Its loan repayment of Rs 1,650 crore has been extended till 2037 and interest rate has been reduced to 11.75 per cent from 13 per cent per annum.

Jagran Prakashan: Jagran Prakashan has completed the acquisition of Radio City.

BHEL: BHEL has commissioned 82.5 megawatt hydro power unit in Uttarakhand.

Tata Motors: Tata Motors will be in focus as sales of its subsidiary Jaguar Land Rover declined 2.1 per cent to 38,000 units in May. Jaguar sales declined 13 per cent year on year while Land Rover sales were flat.

8:35 a.m.: Asia share markets made guarded gains on Friday and the dollar held firm in the wake of reassuringly upbeat U.S. retail data, though the mood was cautious as Greek debt talks took yet another confusing turn.

Activity was sparse with MSCI's index of Asia-Pacific shares outside Japan up 0.4 per cent, but only just above three-month lows.

Japan's Nikkei was all but flat though it found some support in a dollar bounce against the yen. South Korea managed a gain of 0.6 percent and Shanghai shares added 0.7 per cent in early trade.

8:30 a.m.: Nifty is likely to open lower in trades today tracking subdued trading of the Nifty on the Singapore Stock Exchange.

The Nifty traded on the Singapore Stock Exchange also known as the SGX Nifty was down 0.36 per cent or 28 points at 7,932.

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