This Article is From Jul 01, 2015

Sensex Jumps 240 Points, Nifty Ends Above 8,450

Sensex Jumps 240 Points, Nifty Ends Above 8,450
The Sensex jumped 240 points to end at 28,021 and the Nifty advanced 84 points to settle at 8,453 on the back of broad-based buying.

The sentiment on the Street got a boost in the late trades after Financial Times reported that the debt laden Greece would accept the bailout conditions set by its creditors. Following this development, equity markets across the globe moved higher.

Back home, buying was seen across the sectors. Banking stocks led the market rally after Minister of State for Finance, Jayant Sinha said that the government is working comprehensively on plan to recapitalise banks. The PSU Bank index on the National Stock Exchange ended with a gain of 2.5 per cent; stocks such as Bank of India, Union Bank, IDBI Bank, Bank of Baroda and Oriental Bank of Commerce were among the top gainers from the banking space.

Capital goods, IT, power, realty and auto stocks also saw buying interest and the respective indices advanced 1.3-1.7 per cent each on the Bombay Stock Exchange.

The broader markets also saw buying interest. The BSE mid-cap and small-cap indices advanced 1.3 and 1.4 per cent each.

From the Nifty-50 basket of stocks, 41 stocks advanced while 9 stocks ended lower.

BHEL, Ambuja Cements, Axis Bank, Cipla, Yes Bank, HCL Technologies, Tata Motors, Power Grid and UltraTech Cemnt were the top Nifty gainers.

On the other hand, Zee Entertainment, Bajaj Auto, Lupin, Gail India, ITC and NMDC were among the notable laggards.

Overall breadth on the BSE was extremely positive as 1,889 stocks advanced while 879 stocks declined.

3:30 p.m.: The Sensex provisionally closed 249 points higher at 28,030 and Nifty jumped 95 points to provisionally shut shop at 8,463.

3.20 p.m.: Markets off day's high, Sensex was up 222 points at 28,002.64 and Nifty up 78.6 points at 8,447.10.

3.11 p.m.:
Mahindra & Mahindra June sales declined 6 per cent annually to 36,134 units against estimates of 40,046 units, the stock is up 0.55 per cent at Rs 1,288

2:58 p.m.: Bank Nifty surged 1.6 per cent in the last hour of trade; Bank of India, Bank of Baroda, Canara Bank, Axis Bank, Yes Bank and State Bank of India were among the gainers, up 3-5 per cent each.

2:47 p.m.: Kunal Bothra of LKP Securities says that the Nifty in past couple of months faced resistance around 8,440-8,450 levels and a close above 8,450 will indicate positive momentum in markets and Nifty could rise to 8,700 levels.

2:41 p.m.: Financial Times has reported that the Greek PM Alexis Tsipras may accept bailout terms. Global markets react positively to this news; French CAC40 index jumped 2.6 per cent, German DAX advanced 2.3 per cent and Britain's FTSE 100 rose 1.5 per cent.

2:37 p.m.: The Sensex continued to trade on a strong note on the back of broad-based buying, jumps 301 points to 28,081 and the Nifty advances 100 points to 8,468.

2:34 p.m.: Broader markets trade on a strong note. The BSE mid-cap index advanced 1.45 per cent and the small-cap index jumped 1.6 per cent. From the small-cap space, Mc Nally Bharat, Kwality,  ITI, IGL, Alok Industries, Trident, Ceat, NBCC, Ballarpur Industries and Rain Indusitries were among the top gainers from this space, the stocks jumped 7-20 per cent.

2:25 p.m.: Escorts tractor sales for the month of June fell 6.7 per cent to 6,238 units compared to 6,689 units sold during the same month last fiscal. Stock up 4.75 per cent at Rs 125.80.

2:16 p.m.: PSU Banking shares witnessed buying interest after Minister of State for Finance, Jayant Sinha said that the government is working comprehensively on plan to recapitalise banks. The PSU Bank index on the National Stock Exchange jumped 3 per cent; stocks such as Bank of India, Union Bank, IDBI Bank, Bank of Baroda and Oriental Bank of Commerce were among the top gainers. (Click here for full report)

2:10 p.m.: The markets continued to witness buying interest in the late noon trades. The Sensex advanced 248 points to 28,029 and the Nifty traded above its crucial psychological level of 8,450. Buying was visible across the sectors, power, capital goods, IT and banking indices jumped over 1 per cent each.

2:03 p.m.: Nifty 8,500 call option was the most active options contract on the National Stock Exchange. The premium on the contract jumped 19.5 per cent to Rs 107. 2.4 lakh shares were added to the open interest of 3.72 million shares.

1:49 p.m.: Cipla was the top gainer on the Sensex. The stock jumped 2.8 per cent to Rs 634. BHEL, State Bank of India, Tata Motors, Wipro, Larsen & Toubro, Bharti Airtel, TCS, ONGC and Axis Bank were also among the gainers.

1:25 p.m.: Unitech, Suzlon Energy, J P Associates, Ashok Leyland, Jain Irrigation Systems and Alok Industries were among the most actively traded stocks on the National Stock Exchange.

1:17 p.m.: The overall breadth on the Bombay Stock Exchange was extremely positive as 1,801 stocks advanced while 741 stocks declined.

1:00 p.m.: Buying was visible across sectors. Power, capital goods, IT, banking, metal and oil & gas stocks were among the top performers on the bourses. The Sensex advanced 231 points to 28,012 and the Nifty was up 78 points at 8,467.

12:49 p.m.: Power stocks jump. BSE Power index was up 1.7 per cent; GMR Infra, Suzlon Energy, Thermax, PTC India, Siemens and BHEL were among the top gainers from this space.

12:35 p.m.: The Chinese markets crashed in trades today. The Shanghai Composite index plunged 5.2 per cent and the Shanghai Shenzen 300 share index was down 4.9 per cent.

12:30 p.m.: The Sensex was up 189 points at 27,969 and the Nifty advanced 62 points to 8,430.

12:25 p.m.: BSE capital goods index advanced 1.5 per cent and was the top sectoral gainer; Sadbhav Engineering, BEML, Siemens, Thermax, Suzlon Energy, BHEL and Crompton Greaves were among the top gainers from this pack.

12:07 p.m.: Country's largest car maker Maruti Suzuki India (MSI) today reported 1.8 per cent rise in total sales in June at 1,14,756 units as against 1,12,773 in June 2014. (Click here for full report)

11:57 a.m.: IT stocks which faced the selling pressure in trades on Tuesday were trading on a positive note. The BSE IT index was up 1.3 per cent; Blue-chip IT stocks such as HCL Technologies, Infosys and Tech Mahindra were among the top gainers on the Nifty.

11:49 a.m.: The Sensex was trading on a firm note but came a bit off the intraday high levels. The Sensex was up 148 points at 27,928 and the Nifty advanced 51 points to 8,420 levels.

11:35 a.m.: Indraprastha Gas shares surged as much as 16.5 per cent on Wednesday after the Supreme Court dismissed Petroleum and Natural Gas Regulatory Board's (PNGRB) plea over gas price regulation. (Read)

11:24 a.m.: McNally Bharat Engineering shares surged as much as 20 per cent to hit intraday high of Rs 94.90 on Wednesday after the company raised Rs 100 crore equity capital from EMC and Williamson Magor Group (existing promoter) at Rs 100 per share, 26 per cent higher than its Tuesday's closing price. (Click here to read)

11:10 a.m.: Banking stocks jump after Minister of State for Finance, Jayant Sinha said that the government is working on a comprehensive plan to recapitalise public sector banks. The Bank Nifty advanced 0.65 per cent; Bank of Baroda, Canara Bank, Yes Bank, Bank of India, Axis Bank, Punjab National Bank and IndusInd Bank advanced 0.6-1.6 per cent each.

11:06 a.m.: CLSA has maintained buy on Eicher Motors for target price of Rs 21,800 per share. CLSA said that the demand for Eicher Motors' products remains strong and Royal Enfield bikes remains a long-term structural story. Waiting period for Royal Enfield bikes has moderated and high supplies of RE bikes led to decline in waiting period. (Click here for more brokerage calls)

10:56 a.m.: The government will provide a roadmap for ending corporate tax exemptions in next 45 days, Revenue Secretary Shaktikanta Das said on Wednesday. (Click here for full report)

10:47 a.m.: IGL surges 16.5 per cent to Rs 486.65 after the Supreme Court dismissed PNGRB's plea to hike prices for transportation of gas.

10:36 a.m.: Maruti Suzuki India's domestic sales rises 1.6% annually to 1.02 lakh units in June 2015, exports up 2.7% to 12,130 units. Stock up 1.2 per cent at Rs 4,072.

10:30 a.m.: The sentiment on Dalal Street was boosted after revenue secretary said that the preparatory arrangements are in place to implement Goods and Services Tax from April 2016. The Sensex jumped 219 points to 28,000 and the Nifty was up 69 points at 8,437.

10:25 a.m.: The Sensex jumped 167 points to 27,948 and the Nifty was up 52 points at 8,420 on the back of buying in blue-chip counters such as Larsen & Toubro, Tata Motors, Infosys, Maruti Suzuki and TCS.

10.02 a.m.: Shriram Transport Finance shares gained as much as 4 per cent to an intraday high of Rs 885 on Wednesday after domestic credit rating agency Crisil upgraded its long-term debt to AA+ and fixed deposits to AAA. (Read)

9:50 a.m.: Sensex was up 137 points at 27,917 and the Nifty was trading above its psychological level of 8,400 on the back of buying in Infosys, L&T, Tata Motors, TCS and Sun Pharma.

9:45 a.m.: Select FMCG stocks face selling pressure. The BSE FMCG index slipped 24 points; ITC, Marico, United Breweries, Jubilant Foodworks, HUL and GSK Consumer Healthcare were among the top losers.

9:37 a.m.: On the sectoral front, buying was visible in most of the sectors. Healthcare, realty and capital goods indices were among the top performers in the morning trades. Metals, banking, oil & gas, auto and IT stocks were also witnessing buying interest.

9:34 a.m.: Independent market analyst Rajat K Bose with suggests buying Nestle for intraday for target price of Rs 6,600.

9:30 a.m.: The broader markets were outperforming the benchmark indices. The BSE mid-cap and small-cap indices jumped 0.65 and 0.8 per cent each. From the mid-cap space, Tata Chemicals jumped 3.6 per cent to Rs 436. Shriram Transport, Godrej Industries, Bharat Forge, J P Power Ventures, Glenmark Pharma, Aurobindo Pharma, Apollo Hospitals and L&T Finance Holdings were also among the gainers, up 1.7-2.9 per cent each.

9:25 a.m.: From the Nifty-50 basket of stocks, 26 stocks were advancing while 24 were declining. Sun Pharma was the top Nifty gainer, up 1.2 per cent at Rs 885. Coal India, Tata Motors, Lupin, BPCL, Hindalco and Cipla were also among the gainers, up 0.7-1 per cent each.

On the other hand, Zee Entertainment, IndusInd Bank, NMDC, Wipro, ITC, ACC, HDFC Bank, HDFC, NTPC, Tata Steel and Mahindra & Mahindra were among the laggards on the Nifty.

9:20 a.m.: The Indian markets jumped in the opening deals on Wednesday ignoring news of Greece defaulting on its installment of loan repayment to the International Monetary Fund.

The Sensex advanced 68 points to 27,849 and the Nifty jumped 17 points to 8,386.

Buying was visible across most of the sectors. Pharma, consumer durables, realty and IT stocks were witnessing buying interest.

8:50 a.m.: Below are the stocks which will be in focus today:

Tata Consultancy Services: TCS AGM concluded yesterday CEO of the company said that the company saw growth coming from all sectors and areas in FY15. Company expects revenue from Japan to pick up in FY16 and digitalization is a big area of growth for TCS.

Oil marketing companies: State-run oil marketing companies such as HPCL, IOCL and BPCL will be in focus today after the petrol and diesel prices were cut yesterday on the back of fall in fuel prices globally. Petrol prices were cut by 31 paise per litre and diesel prices were reduced by 71 paise per litre and the price cut will be effective from today.

IndusInd Bank: IndusInd Bank will be in focus today as the qualified institutional placement closed today. The company approved issue price of Rs 845 per share. QIP is at a premium of Rs 23.46 per share.

Ashok Leyland: Ashok Leyland has won order worth $49.9 million for supply of commercial vehicles to Zimbabwe.

Time Technoplast: Time Technoplast plans to sell its equity in 50:50 joint venture in South China for approx $1.3 million and will purchase balance 50 per cent equity in 50:50 JV in Egypt for $900,000

McNally Bharat: McNally Bharat has signed investment agreement with EMC and company plans to raise further resources via equity shares up to Rs 200 crore.

8:45 a.m.: So far, the monsoon has been above normal. The month of June saw rains 16 per cent above normal rains. Northwest India saw 31 per cent more rains than normal monsoon rains. East and northeast India saw 1 more rains, central India witnessed 23 per cent higher rains and rains in the southern peninsula jumped 19 per cent.

8:35 a.m.: Analysts say that local buying is offsetting selling by foreign investors. In the cash segment, FIIs have sold shares worth $86 million and the domestic investors have purchased shares worth $91 million. Meanwhile, on the global front Greece has confirmed that it won't repay the IMF. Euro was marginally weaker and commodities were trading flat post this development.

Nikkei-Markit manufacturing PMI  is expected to come out at at 10:30a.m. Today and the Indian markets are expected to trade in-line with its Asian peers.

Nifty on Tuesday closed a bit shy of 200-day moving average. Meanwhile, technical analysts say that 8,321-8,382 stays the resistance zone for the Nifty.

In the derivative segment, Nifty open interest jumped 8 per cent.

Among the individual stocks, Zee Entertainment has jumped 23 per cent from the low it made in the month of May. Chartists say that the stock has resistance around Rs 365-370 levels.

Auto stocks will be in focus today as the June monthly volumes will be released today.

8:15 a.m.: The foreign institutional investors (FIIs) sold shares worth Rs 551.3 crore on Tuesday while the domestic institutional investors purchased shares worth Rs 580 crore. 

In the derivatives segment, the FIIs bought index futures worth Rs 353 crore and stock futures worth Rs 180 crore.

8:00 a.m.: Asian share markets were in a guarded mood on Wednesday as Greece became the first developed economy to default on a loan with the IMF, setting the scene for another day of uneasy action.

While an unwelcome milestone for Athens, it came as no surprise to investors after weeks of stop-start talks and the euro only faded a little to $1.1135. (Read)

Read: Greece Defaults on IMF Payment Despite Last-Minute Overtures to Creditors

7:35 a.m.: Indian markets are likely to open on a weak note tracking subdued trading of Nifty on the Singapore Stock Exchange. Nifty traded on the Singapore Stock Exchange also known as the SGX Nifty was down 0.2 per cent or 18 points at 8,366. 

The sentiment in the market was down after Greece became the first developed economy to default on a loan with the International Monetary Fund.