03:30
Market close
The
market ended at lower level. Nifty ends at 8711.70 (down 12 points), after
sinking below 8700 intraday. The Sensex is down 32.14 points at 28850.97. About
1025 shares have advanced, 1889 shares declined and 229 shares are unchanged.
Tata
Power was down 8 percent, Sesa Sterlite, BHEL, ONGC and M&M were losers in
the Sensex.
03:00
pm Market in red
The
Sensex is down 27.78 points at 28855.33 and the Nifty down 8.65 points or 0.10%
at 8715.05. About 1081 shares have advanced, 1789 shares declined and 226
shares are unchanged.
Tata
Power tanks over 7 percent, ONGC, Sesa Sterlite, Hindalco and ICICI Bank
are major losers in the Sensex. Only IT stocks are up with gainers like
TCS, Wipro and Infosys. HDFC and Coal India are other gainers in the Sensex.
02:45pm
Market Update
The
market trimmed gains on profit booking at higher levels. The Sensex gained
230.24 points at 29113.35 and the Nifty rose 69.70 points to 8793.40.
About
1254 shares have advanced, 1572 shares declined, and 236 shares are unchanged
on the BSE.
02:30pm
Petronet LNG falls
Petronet
LNG disappointed street with the third quarter net profit falling 38.2 percent
sequentially (up 20 percent year-on-year) to Rs 162.4 crore.
A
poll had expected profit of Rs 227.9 crore on revenue of Rs 11,058 crore for
the quarter.
Total
income from operations grew 2 percent (up 19 percent Y-o-Y) to Rs 11,198 crore
during October-December quarter from Rs 10,980 crore in pervious quarter.
Operating
profit fell 34.2 percent quarter-on-quarter (down 3 percent year-on-year) to Rs
341 crore and margin declined 170 basis points to 3 percent in the quarter gone
by. Analysts had estimated operating profit at Rs 475.2 crore and margin at 4.3
percent for the quarter.
02:00pm
Market Check
Equity
benchmarks gained more than a percent higher in afternoon trade, aided by
further upside in banking & financials, technology and FMCG stocks. The
Sensex jumped 367.77 points to 29250.88 and the Nifty rallied 98.80 points to
8822.50.
However,
the broader markets remained flat. About 1320 shares have advanced, 1412 shares
declined, and 241 shares are unchanged on the BSE.
Samir
Arora of Helios Capital says FIIs are excited about India, but most of them are
still stocking to the quality names. They are still not upbeat on companies
that are potential turnaround stories.
Looking
at possibilities on the economy in terms of monetary stimulus and fiscal
stimulus, financial sector stocks will still do well, and within that space,
private sector banks will outperform, feels Samir Arora of Helios Capital.
Among
banking & financials, HDFC toppped the buying list on Sensex, up 4.6
percent. Axis Bank and State Bank of India rallied 1-3 percent while rival
ICICI Bank recouped all its losses.
HDFC
Bank gained 2 percent as it kicked off a Rs 10,000 crore share sale, with a Rs
1,500 crore QIP book launched last night. Sources say the QIP book saw very
strong response, was subscribed over 7 times. The bank is also looking to raise
Rs 7,500-8,000 crore via ADR issue.
TCS,
Infosys and Wipro climbed 3-3.6 percent after Cognizant positively surprised
the street with a revenue growth of 6.2 percent Q-o-Q and provided an
encouraging guidance of 19 percent for this year. CLSA says guidance should
improve investor confidence on CY15 demand health for Indian IT companies.
Bharti
Airtel rebounded after seeing a loss of 1 percent. The company delivered a
tepid set of Q3 numbers as Africa performance continued to drag. CLSA downgraded
Africa's FY15-18 EBITDA by 11-13 percent.
In
key earnings, Tata Motors gained 1.4 percent ahead of its third quarter
earnings today. A expects revenues to come in 3.5 percent higher while profits
are likely to remain flat at Rs 4,846 crore on a consolidated basis.
However,
ONGC, Mahindra & Mahindra, Sesa Sterlite, Tata Power, Cipla, GAIL, Hindalco
and BHEL were down 1-4 percent.
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