The market is celebrating Diwali with SOME BOASTING . The Sensex is up 233.40 points or 0.9 percent at 26809.05, and the Nifty is up 61.70 points or 0.78% at 7989.80.
The Indian rupee has opened at 61.15 a dollar, up 16 paise compared to previous day’s closing value of 61.31 per dollar on hopes of strong trade in equity market.
Long-term advice- Larsen and Toubro is a buy on dip stock because you will have to see how hydrocarbon business of Middle East pans out (because last quarter it was a shocker). Let us wait and see but from a longer-term perspective like State Bank of India , L&T remains in a core portfolio stock because if the entire infrastructure build out story happens, L&T will be the major beneficiary.
Private sector lender South Indian Bank’s second quarter net profit fell 40 percent year-on-year to Rs 76.3 crore dented by sharp jump in provisions. Profit in the year-ago period was Rs 127 crore.
Bank Nifty gained more than a percent as top private sector lender ICICI Bank surged 2.5% and its rival Axis Bank rose over a percent. SBI was up 0.8% but HDFC Bank was flat post Q2 earnings. Sesa Sterlite topped the buying list, up over 5% followed by Gail and BHEL with over 4% gains.
Tata Motors, Wipro, Bharti Airtel, Maruti Suzuki, Hero Motocorp, NTPC, Tata Steel, Hindalco Industries and Tata Power rallied 1-3 percent. However, ONGC, Infosys, Mahindra and Mahindra and Coal India were down 1-2.6% .
Nifty and sensex gains more than 1% as the market rejoiced BJP’s victory in recently held assembly elections, Higher on the banking stock, capital goods, Realty, Energy, Auto, Pharma.
The Sensex was at 26,466.44, up 336.91 points or 1.29% . It touched a high of 26,501.04 and a low of 26,434.16 in trade today.
The Nifty was at 7,886.60, up 106.90 points or 1.37% . It touched a high of 7,898.40 and a low of 7,888.70 in trade today.
The midcap and smallcap also gained more than 1%, Midcap higher 1.87% and the smallcap 1.81%.
Lupin Ltd Buy call with a target of Rs 1380 and a stop loss of Rs 1335
BHEL Buy call with a target of Rs 240 and a stop loss of Rs 221
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Indian stock market gained strength in afternoon trade supported by banking and financials, capital goods and index heavyweights like ITC and Reliance Industries. The Sensex rose 171.89 points to 26170.23 and the Nifty climbed 49.85 points to 7785.05. About 1123 shares have advanced, 1422 shares declined, and 94 shares are unchanged.
Bank Nifty jumped 380 points as ICICI Bank, HDFC Bank, State Bank of India and Axis Bank gained 2-3 percent. Housing finance company HDFC too rallied 2%. Capital goods majors Larsen and Toubro, and BHEL climbed 2-3% .
Utility vehicle maker Mahindra and Mahindra topped the buying list gained 3.93%. HCL Technologies and TCS remained under selling pressure, falling 8-9% after reporting lower than expected revenues in September quarter.
Indian stock market opened lower after the exit polls which are indicating that BJP will win highest number of seats in Maharashtra and Haryana.
Nifty and sensex which is opened down side in early in the morning. Technically speaking, for Nifty the level of 7830 – 7800 is now an immediate term support for the index whereas it face a stiff resistance around 7925 and beyond that at 7975.
The Indian rupee opened marginally lower on Thursday at 61.48 per dollar compared to 61.41 a dollar in previous session.
Hindalco topped in selling list, Tata power down 2.02%, sesa sterllite fall 2.26%, ONGC and NTPC fall more than 1%, While GAIL, Hero motorcorp, Tata motors, TCS up more than 1%.
Ambuja Cements SELL call with a target of 205/203/ 200 and a stop loss of Rs 211.75
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Today Equity market opened flat with positive side, Nifty index also pared gains and slipped below its crucial psychological level of 7900.We expected nifty trade positive side in evening session. The down 115.91 pts or 0.43% at 26272.85. BSE Realty index was the top loser among other sector indices on the BSE, down 7.90%.
Wipro BUY call with a target of Rs 602 and a stop loss of Rs 578
DLF tanked 24% to hit its 52 week low of rs 110.25 pts. The stock was trading 24.95% lower at Rs 110.85 at 11.00 a.m.
The Indian rupee gained in the opening trade. It rose 15 paise to 60.93 per dollar versus previous day’s closing value of 61.08 a dollar.
Bullish stock- Bajaj auto 2.50%, Bhel 2.43%, Cipla 1.50%, Axis bank 0.76%, Dr. Reddy labs 0.43%, Gail 0.48%, indusind bank 1.63%.
Bearish stock- Sesa sterllite 4.56%, Jindal steel 3.36%, Dlf 25.22%, cairn india 2.40%, NMDC 2.54%, Tata steel 2.39%.
Equity market closed positive, The market rebounded on Monday after a big fall in Friday’s session. The Sensex climbed 86.69 points to 26384.07 and the Nifty rose 24.30 points to 7884.25.
Tata Power, Tata Steel, Coal India, Axis Bank, TCS, NMDC and PNB topped the buying list, up 1.5-3 percent while M&M, Cipla, Sun Pharma, Dr Reddy’s Labs, BHEL and DLF were top losers, down 1-4 percent.
Among midcaps, Sintex Industries, Page Industries, Federal Bank, MTNL, Voltas, Motherson Sumi, OBC, Den Networks, SAIL, Jain Irrigation, LIC Housing and Union Bank rallied 3-20 percent.
However, Unitech, Marksans Pharma, Rico Auto, HDIL, Snowman Logistics, Tata Global, Amtek Auto and Godrej Consumer fell 1.5-4 percent.
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Equity benchmarks remained directionless as technology and healthcare stocks were under pressure while capital goods, oil & gas, FMCG, power and banks supported the market.
The Sensex declined 121.48 points to 26150.49 and the Nifty fell 19.80 points to 7847.60. About 1241 shares have advanced while 1377 shares declined on the Bombay Stock Exchange.
Shares of TCS, Infosys, Sun Pharma, Wipro, Dr Reddy’s Labs and Cipla topped the selling list, down 2-4 percent while L&T, ONGC, Tata Steel and BHEL gained more than 2 percent.
Reliance Industries, ICICI Bank, SBI, Axis Bank, ITC, Tata Motors and HUL advanced around a percent.