Sensex Snaps 3-Day Losing Streak, Ends 160 Points Higher

Sensex Snaps 3-Day Losing Streak, Ends 160 Points Higher
The Sensex and Nifty snapped three-day losing streak on Thursday led by gains in heavyweight shares like HDFC, Larsen & Toubro, ITC, Tata Motors and Infosys.

The Sensex ended 160 points higher at 25,262 and Nifty closed 29 points higher at 7,735.

In intraday deals, the Sensex moved in a range of 231 points whilethe broader Nifty touched high of 7,777.55 and low of 7,706.85.

From the Nifty-50 basket of stocks, 29 stocks ended lower while 22 closed higher. HDFC was the top Nifty gainer; the stock closed 3 per cent higher at Rs 1,163. Tech Mahindra, Tata Motors, Larsen & Toubro, Lupin, ITC, Cipla, Tata Steel, HDFC Bank, State Bank of India and Infosys also closed higher by 0.3-2.6 per cent each.

On the other hand, Idea Cellular was the top Nifty loser, the stock closed 5.3 per cent lower at Rs 113.50 after a report said that India's third biggest telecom operator may spend nearly $1.3 billion (Rs 8,650 crore at $1=66.55 rupees) to buy spectrum in upcoming auction. 

"Idea may add more data capacity in four circles and we see a potential spend of $1.3 billion in the upcoming spectrum auction by the company," the Economic Times said, citing an HSBC analyst. 

Bharti Airtel, Adani Ports and SEZ, UltraTech Cement, Grasim Industries, BPCL, ACC and Yes Bank were also among the laggards.

The broader markets closed marginally lower with BSE Mid-cap and Small-cap indices closing in red.

The overall market breadth on the BSE was marginally negative as 1,321 stocks closed lower while 1,229 ended higher.

3:20 p.m.: Energy shares continue to witness a mild selling pressure. The Nifty Energy index was down 0.2 per cent; HPCL, BPCL, Indian Oil, Cairn India, Tata Power, ONGC, Reliance Industries and GAIL India were among the losers.

3:08 p.m.: Stock markets again comes off intraday high levels. The Sensex was up 163 points at 25,265 and Nifty was at 7,735, up 29 points.

2:54 p.m.: The Capital Goods index advances nearly 2 per cent on the back of gains in Larsen & Toubro, BHEL, Siemens, Reliance Defence, ABB, Havells India, Thermax and Mahindra CIE.

2:42 p.m.: Eicher Motors' first quarter EBITDA margin at 17.2 per cent against poll of 16 per cent.

2:26 p.m.: Eicher Motors first quarter net profit at Rs 334.50 on sales of Rs 3,765 crore, shares recover from intraday low levels to trade 1.13 per cent higher at Rs 19,970.

2:13 p.m.: Buying interest seen across sectors. Capital goods stocks were leading the market rally followed by realty, auto, FMCG and healthcare stocks.

2:09 p.m.: The stock markets gained momentum on the back of buying in heavyweights like HDFC, ITC and Larsen & Toubro. The Sensex rose 275 points to 25,377 and Nifty advanced 66 points to 7,772.

1:58 p.m.: The market breadth was marginally negative as 1,237 stocks were falling while 1,158 were advancing.

1:49 p.m.: From the Nifty-50 basket of shares, 32 were falling while 19 were advancing. HDFC was the top gainer in the Nifty, up 3.55 per cent to Rs 1,170. Tata Motors, BHEL, Larsen & Toubro, ITC, Lupin, Sun Pharma, Tech Mahindra and ICICI Bank were also among the gainers, up 1-2.6 per cent each.

1:41 p.m.: Telecom stocks continue to witness selling pressure. Idea Cellular remains the top loser from this space, down 5.8 per cent to Rs 112.65. Bharti Airtel and Reliance Communications were also among the losers, down over 2 per cent each.

1:26 p.m.: Banking stocks face selling pressure. The Bank Nifty falls 0.3 per cent to 16,224; Yes Bank, Kotak Mahindra Bank, Bank of Baroda, IndusInd Bank, Canara Bank, State Bank of India, Axis Bank and Punjab National Bank were among the losers, down 0.4-1 per cent.

1:22 p.m.: Godrej Properties Q4 net profit at Rs 17.9 crore against estimate of Rs 56.9 crore, shares plunge 6.5 per cent to Rs 314.

1:15 p.m.: Oil & gas stocks were witnessing selling pressure. The BSE Oil & Gas index was down 0.45 per cent; Oil India, HPCL, BPCL, Cairn India, Indian Oil and Reliance Industries were among the losers.

1:01 p.m.: The Sensex came off the intraday high levels while the Nifty turned flat in the afternoon trades on the back of selling in telecom and oil & gas stocks. The Sensex was up 113 points at 25,215 and Nifty was at 7,723, up 16 points.

12:43 p.m.: Real estate stocks witness buying interest. The BSE Realty index emerges as the top sectoral gainer, up 2 per cent; Indiabulls Real Estate, Sobha Ltd, DLF, HDIL, DB Realty, Oberoi Realty, Godrej Properties and Omaxe among gainers, up 1-7.5 per cent each.

12:35 p.m.: The broader markets were broadly in-line with the benchmark indices. The BSE Mid-cap index was up 0.3 per cent and the small-cap index advanced 0.44 per cent. UPL was the top gainer from the mid-acp space, up 3 per cent to Rs 597. United Breweries, ShriramCity Union Finance, Bajaj Finance, Exide Industries, Oberoi Realty, Tata Chemicals, Emami Ltd and ABB were also among the gainers, up 1.6-2.7 per cent each.

12.05 p.m.: Sensex up 156 points at 25,258 and the 50-share Nifty traded 33 points higher at 7,739 as auto, FMCG and pharma shares witnessed buying. 

The auto sub-index of NSE was up 0.72 per cent, while pharma and FMCG sub-indices of NSE were up 0.82 per cent and 0.77 per cent. 

HDFC was the top gainer in Nifty, up 3.87 per cent followed by BHEL and Tata Motors, which were up around 2.5 per cent each. 

Meanwhile, Idea Cellular was the top loser in Nifty, down 4.7 per cent after an Economic Times report said that the telecom operator may spend aggressively to bid for spectrum in the upcoming auction in July. 

11.05 a.m. Broader markets are trading with a positive bias, though they remain in a range. Drugmakers are trading off day's high, while realty stocks outperformed with over 1.2 per cent gains. HDFC is the top Nifty gainer, up nearly 3 per cent. Tata Motors, Lupin, Sun Pharma and ITC are trading with 1-3 per cent gains.

Telecom stocks have suddenly come under huge pressure. Idea Cellular, India's third biggest operator, sank over 5 per cent, while Bharti Airtel shares are down 1.7 per cent.  

10 a.m. Markets continue to trade steady, with Sensex up 110 points and the Nifty advancing 22 points. Tata Motors has replaced Sun Pharma as top Nifty gainer.

Among other Nifty stocks, Hero MotoCorp is trading 1.3 per cent higher ahead of its Q4 earnings announcement.

Adani Ports shares have fallen further; the stock is now down nearly 4 per cent. Zee Entertainment is the other big Nifty loser, down 2 per cent.

Among midcap stocks, Hexaware Technologies shares are down 10 per cent on weak numbers.

09.30 a.m. The BSE Sensex jumped over 100 points on Thursday, while the broader Nifty50 index advanced 30 points to inch closer near the key 7,750 mark. Beaten down domestic stock markets saw value buying at lower levels, traders said.

However, selling pressure is likely to continue in the short term because of bearish trends across the globe.

The Nifty is likely to remain in a narrow trading zone of 7,500 and 7,800 till there is clarity on how monsoons pan out, says Sachin Shah, fund manager at Emkay Investment Managers. Market participants are looking at signals indicating a pick-up in demand in semi-urban and rural areas in the second half of this fiscal, he added.

Market expert Jai Bala said the Nifty has important support around 7,680-7,690, but a breach below these levels could lead to a deeper pullback.

Healthcare stocks led gains, with drugmaker Sun Pharma rising nearly 3 per cent to top the Nifty50 benchmark. Lupin, Cipla and Dr Reddy's shares also saw buying interest.

Tata Motors rebounded today, while mortgage major HDFC extended its winning streak to a fifth straight day.

Adani Ports continued to face selling pressure and was the top Nifty loser. Adani Ports, which tanked 12 per cent yesterday, traded 3 per cent lower.

Cement stocks such as Ultratech and ACC also came under selling pressure.

On Wednesday, the Dow Jones index closed lower for fifth day in six trading sessions. Asian markets continued to be under pressure today morning.