The key benchmark indices BSE Sensex and NSE Nifty snapped a three-day losing streak on Thursday on the back of firm global markets. Sensex closed 230.48 points up at 27,010.14. Nifty closed 71.60 points up 8,179.50.
In the 50-share index, Zee Entertainment, Tata Motors, BPCL, Bank of Baroda and BHEL gained between 3.30 per cent and 8 per cent. On the other hand, Cipla, Mahindra & Mahindra, Wipro, TCS and HUL slid between 0.50 per cent and 1.20 per cent.
Tata Motors shares surged after the auto maker informed BSE that its UK based luxury car unit, Jaguar Land Rover’s retail sales rose 3 per cent to 47,634 vehicles in September 2015 over September 2014.
Shares of Adani group companies were the top gainers among BSE large caps after Australia cleared way for the group’s $7 billion coal and rail project. Share price of Adani Enterprises jumped 14.02 per cent to Rs 96.75.
Barring the BSE IT index (down 0.14 per cent), rest all other sectoral indices on the Bombay Stock Exchange ended in green. The BSE Auto index gained the most — 2.33 per cent, followed by BSE Oil & Gas index (up 1.51 per cent), BSE Metal index (up 1.40 per cent) and BSE Capital Goods index (up 1.22 per cent).
Shreyash Devalkar, fund manager, equities, BNP Paribas Mutual Fund, said, “Taking cues from overseas stock markets, Indian indices opened the trading day on a positive note. Gains in banking and auto stocks gave a further fillip to the bullish sentiment in the market with the respective sectoral indices witnessing sharp gains.”
Gaurav Jain, director, Hem Securities, said, “Markets closed in green after three days of weakness on the back of strong corporate earnings and positive global cues.”
Consumer stocks gained on hopes of lower inflation and a larger-than-expected rate cut by the central bank in September would boost spending in the coming festive season. Wholesale prices fell for an 11th straight month in September, plunging an annual 4.54 per cent primarily on the back of tumbling oil prices, government data showed on Wednesday.
The market breadth indicating the overall health of the market was strong. On BSE, 1,529 shares advanced while 1,196 shares declined. A total of 147 shares were unchanged. The BSE Midcap index closed 0.79 per cent up at 11006.60. The BSE Smallcap index closed 0.48 per cent up at 11,490.
Hang Seng, Nikkei and Shanghai closed 2 per cent, 1.15 per cent and 2.32 per cent up at 22888.17, 18096.90 and 3338.07, respectively.
Markets through the day
3.30 pm: Sensex closed the day 230.48 points up at 27,010.14. Nifty closed 71.60 points up 8,179.50.
3.19 pm: Mastek Ltd shares plunge 18 per cent to Rs 144.5 after the software company announces its September quarter results. Sensex was up 226 points at 27,006.
3.11 pm: The share price of Cyient Ltd jumped around 8 per cent after the announcement of Q2 results. For the quarter ended September 2015, Cyient Ltd reported total income of Rs 771.64 crore, up 14.76 per cent, against Rs 672.39 crore in the corresponding quarter a year ago. Sensex was up 244 points at 27,024.
2.42 pm: Share price of Lakshmi Vilas Bank jumped as much as 10 per cent intraday after the bank reported 42.32 per cent rise in net profit at Rs 44.83 crore for the quarter ended September 30, 2015 as compared to Rs 31.50 crore for the same quarter in the previous year. Total income increased by 13.69 per cent at Rs 697.88 crore for quarter under review as compared to Rs 613.87 crore for the quarter ended September 30, 2014. Sensex was up 211 points at 26,991. Nifty was up 66.30 points at 8,174.20.
1.45 pm: LIC Housing Finance also announced its Q2 earnings figures on Thursday. For the quarter ended September 30, 2015, LIC Housing Finance reported net profit of Rs 411.73 crore, up 20.62 per cent, against Rs 341.35 crore in the same quarter a year ago. The share price of the company was 1.85 per cent at Rs 490.80. Sensex was up 226 points at 27,005.
2.25 pm: Hindustan Unilever shares were trading 1.4 per cent down at Rs 786.25. The company reported 2.62 per cent fall in its net profit at Rs 962.24 crore on Wednesday for the quarter ended September 30, 2015 as compared to Rs 988.16 crore for the same quarter in the previous year. However, the total income of the company has increased by 3.68 per cent at Rs 8125.55 crore for the quarter under review as compared to Rs 7837.13 crore in the corresponding quarter of the previous year. Sensex was up 179 points 26,958.
1.37 pm: Share price of Sintex Industries jumped over 2.5 per cent to Rs 106.80 on BSE after the announcement of Q2 results. For the quarter (Q2) ended September 2015, The company posted net profit of Rs 128.07 crore, up 40.86 per cent, against Rs 90.92 crore in the corresponding quarter a year ago. Sensex was up 251 points at 27,031.
1.08 pm: Share price of Tata Motors surged over 6 per cent after the company announced on Wednesday that its UK based luxury car unit, Jaguar Land Rover’s retail sales rose 3 per cent to 47,634 vehicles in September 2015 over September 2014. The company sold 3,49,412 vehicles in the first nine months of 2015, in line with prior year. Jaguar delivered a solid performance in the month, with sales jumping 22 per cent to 10,394 vehicles in September 2015 over September 2014. The increase reflects strong sales of the all-new Jaguar XE sports saloon in markets in which it has gone on sale since May, with China sales only starting in September and US sales starting in 2016. Land Rover retailed 37240 units in September, down 1 per cent year-on-year compared to the same month last year.
1.03 pm: Meanwhile, European shares rose on Thursday following three days of losses, tracking gains in Asia on growing expectations the US will delay any interest rate hike until 2016, with retailer Casino among the top performers. The pan-European FTSEurofirst 300 index rose 0.6 percent while the euro zone’s blue-chip Euro STOXX 50 index gained by 0.5 percent.
12.42 pm: Reliance Capital, a part of Anil Ambani led Reliance Group, on Thursday announced the launch of the Employee Stock Option (ESOP) Scheme 2015, subject to requisite approvals. The Company proposes to grant ESOPs with a notional value of approximately Rs. 150 crore to 250 employees across its various group units, as part of this scheme. Under the Scheme, eligible employees will get options on RCL listed stock and / or phantom shares of its businesses. The share price of Reliance Capital was trading 1.62 per cent up at Rs 401.90 in the afternoon trade. Sensex was up 213 points at 26,992. Nifty was up 69 points at 8,176.
Under the Scheme, eligible employees will get options on RCL listed stock and / or phantom shares of its businesses.
12.27 pm: Sensex was up 225.36 points at 27,005. Nifty was up 72.80 at 8,180. All the sectoral indices on the Bombay Stock Exchange were trading in green. The BSE Auto index and the BSE Realty index were up 1.89 per cent and 1.32 per cent, respectively.
12.02 pm: Sensex climbed 223.62 points and crossed the psychological level of 27,000. The index was at 27,002.42 in the noon trade. Nifty was up 70.25 points at 8,178.15.
11.55 am: NIIT, a leading provider of managed training services, informed BSE that it has been awarded a multi-year contract to provide managed training services to Citi in the Europe Middle East and Africa region. With this new partnership, NIIT’s Corporate Learning Group will source and manage third party training procured by Citi across EMEA. Cheering the announcement, the share price of the company jumped over 5 per cent to Rs 96.60.
11.20 am: Share price of IVRCL jumped over 11.40 per cent to Rs 10.55 apiece on BSE after the company said one of its special purpose vehicles has begun collection of toll from Chengapalli tollways in Tamil Nadu. Sensex was up 201 points at 26,981.
10.50 am: Brokers said buying after recent losses amid a firming trend in other Asian markets helped the domestic trading sentiments. Asian markets were up following weak US retail data reinforced hopes of delay in interest rate hike by the US Federal Reserve. Besides, recovery in the rupee and data showing foreign funds continued their buying on domestic bourses triggered buying by investors. Sensex was up 196.52 points at 26,979. The BSE Midcap index and BSE Smallcap index were 0.71 per cent and 0.64 per cent, respectively.
10.32 am: After falling 20 per cent in Wednesday’s trade, the share price of DCB Bank extended losses on Thursday and plunged over 10 per cent in the morning trade on Thursday. According to market experts investors were also left disappointed after DCB Bank said it is looking to double its branches within 12 months to more than 300, adding over 150 branches against earlier plan of opening 25-30 branches a year. Motilal Oswal downgraded the stock to ‘sell’ from ‘buy’ and said the sudden shift in strategy is leading to sharp earnings cut and sees ROE falling below 10 per cent till FY17. Sensex was up 205 points 26,985 . Nifty was up 63 points at 8,171.
10.24 am: The rupee rose by 29 paise to 64.74 against the dollar in early trade on Thursday on increased selling of the US currency by exporters.
10.04 am: Buying in stocks of metal, auto, realty, banking, PSU and consumer durables positively impacted the trading sentiments. Sensex was up 219 points at 26,999. Nifty was up 0.83 per cent at 8,175.20.
9.41 am: Shares of Adani group gained in the early trade on Thursday on reports that Australia cleared way for Adani’s $7 billion coal and rail project. Adani Enterprises shares were up 11.26 per cent at Rs 94.40. Adani Power and Adani Ports were up 3.92 per cent and 1.79 per cent at Rs 29.15 and Rs 330, respectively. Sensex was up 147 points at 26,927. Nifty was up 43.70 points at 8,151.
9.22 am: Sensex was up 172 points at 26,952. In the 30-share index, Vedanta, Tata Motors, Hindalco were up over 1.5 per cent.
9.20 am: The 30-share index, which had lost almost 300 points in the previous three sessions on muted earnings by some bluechip companies, recovered by 168.07 points, or 0.63 per cent, at 26,947.73.
Domestic equity markets opened on a positive note on Thursday tracking firm Asian markets. Sensex opened 62.53 points up at 26842.19. Nifty opened 26.45 points up at 8,134.35. Hindalco was up over 3 per cent in the opening trade.
Results which are expected for on Thursday are DB Corp, Karur Vysya Bank, LIC Housing Finance,Mastek and MindTree etc.
(With inputs from agencies)