The BSE Sensex and NSE Nifty gained over 1 per cent on Friday on account of value buying amid stabilised crude oil prices. Buying in metal stocks too supported the sentiments on a report of MIP notification. Sensex closed 278.54 points up at 24616.97, while Nifty 50 index settled 85.10 points up at 7,489.10.
In the 50-share index, Lupin gained the most — 9.82 per cent to Rs 1815.15, followed by Vedanta (up 9.08 per cent), Axis Bank (up 5.25 per cent), Punjab National Bank (up 4.95 per cent) and Tata Steel (up 4.34 per cent). On the other hand, Bosch, GAIL and Adani Ports slid 5.12 per cent, 3.66 per cent and 1.81 per cent, respectively.
Sectorwise, the BSE Healthcare index (up 3.37 per cent), BSE Metal index (up 3.37 per cent) and BSE Bankex (up 2.11 per cent) remained among top gainers. Rest all other sectoral indices ended the day in green.
Vinod Nair, head-fundamental research, Geojit BNP Paribas Financial Services, said, “We are seeing signs of sharp improvement in global sentiment with a fall in the dollar index, highlighting a chance of change in preference to risky assets like emerging markets. We have to wait and watch whether these changes are likely to be maintained which can improve FIIs inflow to India. US payroll data will be released today and is expected to be lower than earlier which will make a FED rate hike in March to be unlikely.”
The market breadth remained in favour of advances, as there were 1,620 shares on the gaining side against 1,016 shares on the losing side while 134 shares remain unchanged.
Traders also got some support with report that India has received $4.5 billion foreign direct investment (FDI), recording a whopping 114 per cent growth during December 2015 which is more than double against the same period in 2014. During the period, the sectors which attracted FDI include computer software and hardware, trading, services, automobile and telecommunications. India receives maximum FDI from Singapore, Mauritius, the Netherlands and Japan. India had received $2.16 billion in December 2014.
In a scrip specific development, Lupin shares gained over 9 per cent on Friday after the pharma major managed to meet market expectations with a 12 per cent fall in Q3 profits year on year, almost in line with market expectations. The company’s stronger sales in Indian market partially helped it offset its weak performance in the US market in the quarter. Company’s net profit fell from Rs 601 crore in Q3FY2014-15 to Rs 530 crore in Q3 FY2015-16.
Jindal Steel and Power shares gained 10 per cent to Rs 63.45 on BSE.
On the global front, European counters were trading mostly in green in early deals ahead of the release of a key jobs report in the United States that could provide clues on the Federal Reserve’s monetary policy outlook. Asian markets ended mostly in green, tracking the modest gains overnight on Wall Street. However, Japanese shares declined as the strengthening yen pressured major exporters.
|Asian Indices||Last Trade||Change in Points||Change in %|
Source: Ace Equity
Markets through the day
3.30 pm: Benchmark indices BSE Sensex and NSE Nifty rallied over a percentage point on Friday. After a cautious start, sentiments turned up-beat as investors continued hunt for fundamentally strong stocks. Sensex closed 278.54 points up at 24616.97, while Nifty 50 index settled 85.10 points up at 7,489.10.
3.22 pm: Sensex was trading 314.88 points up at 24,653. Nifty was up 92.60 points at 7,496.
3.15 pm: Mahindra Asset Management Company has received markets regulator Sebi’s approval for setting up of mutual fund business. Mahindra AMC, a wholly-owned subsidiary of Mahindra & Mahindra Financial Services, got the regulator’s nod on February 4. Shares of Mahindra & Mahindra Financial Services were trading 0.80 per cent down at Rs 199.40. Sensex was up 272 points at 24,611.
3.02 pm: Lupin climbed further and was trading 8.60 per cent up at Rs 1,794.
2.23 pm: Sensex was trading 171 points up at Rs 24,509. Luin was trading 5.62 per cent up at Rs 1,745 on BSE. Lupin Ltd reported a 12 per cent fall in third-quarter profit that was in line with analysts’ expectations. Net profit for the quarter ended Dec 2015 was at Rs 530 crore, down from Rs 601 crore a year earlier.
2.13 pm: NHPC shares gained after the company informed BSE that its unit 2 of Chutak Power Station in Jammu & Kashmir which was under complete shutdown due to problem in water parts from October 25, 2015 has started generation on February 04, 2016. Shares of NHPC were trading 1.26 per cent up at Rs 20.15.
2.00 pm: Aarti Industries informed BSE that the Board of Directors of the Company at its meeting held on February 5, 2016, has declared 2nd interim dividend at Rs 2 (40%) per share for the financial year 2015-2016. Shares of Aarti Industries were trading 2.31 per cent up at Rs 481. Sensex was up 158 points at 24,497.
1.35 pm: Cadila Healthcare shares were trading 4.47 per cent on Friday after it posted 38 per cent rise in consolidated net profit at Rs 390 crore for the third quarter ended December 31, on the back of robust sales in the US market. Sensex was trading 149.08 points up at 24,487.51. NSE Nifty was trading 53.60 points up at 7,457.60.
1.13 pm: Balaji Telefilms shares were trading 4.12 per cent down at Rs 107.10 after it reported a consolidated net profit of Rs 6.62 crore for the quarter ended December 31, 2015, aided by lower expenses. The Board of Directors of Balaji Telefilms Limited in its meeting on Friday has considered and approved a preferential issue of 1,07,20,000 equity shares at Rs 140 each. Sensex was trading 159.63 points up at 24,498.06. NSE Nifty was trading 51.90 points up at 7,455.90.
12.49 pm: Eicher Motors shares surged over 5 per cent on Friday after the company reported 76 per cent rise in consolidated net profit figures to Rs 270.80 crore the quarter ended December 2015. The company posted net profit of Rs 153.77 crore in the corresponding quarter a year ago. On Q4 results of Eicher Motors, Angel Broking said, “Eicher Motors 4QFY2016 consolidated results were in line with our estimates.” Sensex was up 185 points at 24,523. Nifty was up 60.45 points at 7,464.
12.17 pm: Sensex was up 200.53 points, or 0.83 per cent, at 24,538.96. The BSE Midcap and Smallcap index were also trading 1.42 per cent and 0.81 per cent up at 10,285 and 10,527, respectively.
12.01 pm: RPP Infra Projects shares were trading 1.16 per cent up at Rs 130.90. The company has received an order by Joint Venture with Ramalingam Construction Company from Karnataka Neeravari Nigam (A Government of Karnataka Enterprise) for the work of Modernisation of Gondi Main Canal & distributaries in Shimoga District of Karnataka State amounting to Rs 122.2 crore. The current order book of the company stands at Rs 754.41 crore which is to be executed till FY 2017-18. Sensex was trading 187 points up at 24,525 in the noon trade. Nifty was up 62.45 points at 7,466.
11.15 am: Metal stocks gained on reports that India may set minimum import price on steel imports. Shares of Jindal Steel, Vedanta and SAIL were up by 9.83 per cent, 5.24 per cent and 3.90 per cent, respectively. The BSE Metal index was up 2.01 per cent at 6,807.71. Sensex was up 205 points at 24543. Nifty was up 60.85 points at 7,464.
11.00 am: All the sectoral indices on BSE were trading in green. Metal, Bankex and Auto indices were among top gainers. Sensex was up 192 points at 24,530.
10.39 am: SJVN shares were trading 0.71 per cent down at Rs 27.80. The company reported 21.80 per cent fall in its net profit at Rs 211.60 crore for the quarter ended December 31, 2015 as compared to Rs 270.60 crore for the same quarter in the previous year. The company’s total income decreased by 10.91 per cent to Rs 572.78 crore for the quarter under review from Rs 642.94 crore for the corresponding quarter of the previous year. Sensex was trading 206 points up at 24,545. Nifty was up 63.40 points at 7,467.
10.26 am: Sensex was up 155.95 points at 24,494. Nifty was up 46.90 points at 7,450.90. Brokers said an increased buying by investors in blue-chip stocks amid a mixed trend at other Asian markets and overnight gains at the US markets, mainly influenced the sentiment.
10.06 am: Reliance Infrastructure shares gained after the company said on Thursday that it has agreed to sell its cement business to Birla Corporation for Rs 4,800 crore ($710 million), as part of its efforts to reduce debt. Shares of Reliance Infra were trading 1.71 per cent up at Rs 416.85. Sensex was up 68.03 points at 24,406, while Nifty was trading 22.90 points up at 7,426.
10.00 am: The rupee weakened by 10 paise to quote at 67.65 against the dollar in early trade at the Interbank Foreign Exchange (forex) market on fresh demand for the American currency from importers and banks.
9.42 am: Sensex climbed 103 points to 24,441.36. Nifty was trading 31.95 points up at 7,435.95. Something which can disturb the government and Reserve Bank of India’s (RBI) assumptions and calculations, the Consumer Confidence and Inflation Expectation Survey of Households for December 2015 conducted by RBI has said that Indian households expect inflation at over 10 percent in the year ahead, twice as much as RBI’s retail inflation target of 5 percent by March 2017.
9.33 am: Sensex was up 75.27 points, or 0.31 per cent, at 24,413.70. Berger Paints on Thursday reported a 37.80 per cent increase in consolidated net profit at Rs 101.11 crore for the third quarter ended December. The company had posted consolidated net profit of Rs 73.37 crore during the October-December quarter of last fiscal. Berger Paints shares were trading 1.44 per cent up at Rs 272.05.
9.30 am: Torrent Pharma shares were trading 2.46 per cent up at Rs 1,383. Drug firm Torrent Pharma on Thursday reported around three-fold jump in consolidated net profit at Rs 483 crore for the December quarter. The company had posted a net profit of Rs 167 crore in the same quarter of the previous fiscal.
9.23 am: In the 50-share index, Vedanta, Ambuja Cement, Hindalco, Tata Power and Axis Bank were up between 1.06 per cent and 2.45 per cent. On the other hand, Tata Steel, Lupin, GAIL, ZEEL and Maruti Suzuki were down between 0.89 per cent and 3.10 per cent. Nifty50 index was up 10.70 points at 7,414.70.
9.15 am: The BSE Sensex opened 21.93 points up at 24,360.36, while NSE Nifty opened 14.25 points, or 0.19 per cent, up at 7,418.25. Tata Steel plunged over 3 per cent in the early trade.
9.04 am: Divi’s Lab, Lupin, Tata Power Company, Bosch, Cadila Healthcare, Ballarpur Industries, Dishman Pharma, Eicher Motors, Prabhat Dairy, PTC India, Shipping Corporation, Vijaya Bank and Whirlpool of India to announce their results today.
8.36 am: Domestic equity markets are likely to open on a flat-to-cautious note on Friday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and Asian markets.
At 8.27 am (IST), SGX Nifty was down 3.50 points, or 0.05 per cent, at 7,441.50.
On the global front, the US markets ended slightly higher on Thursday as investors digested weaker-than-expected economic data and kept an eye on falling oil prices. Asian markets were trading mixed as investors were treading cautiously ahead of the release of the closely-watched US jobs data later in the day and as the US dollar weakened. The Dow rose 0.5 per cent and the S&P 500 gained 0.2 per cent.
Back home, Sensex recovered by 115 points on Thursday to end at 24,338.43 on value-buying in beaten-down stocks. The NSE Nifty reclaimed the crucial 7,400-mark by recovering 42.20 points or 0.57 per cent to 7,404.
Shares of Tata Steel will remain in focus on Friday, the company on Thursday reported a consolidated net loss of Rs 2,127.23 crore for the quarter ended December 2015 hit by subdued demand in India as well as higher regulatory costs and a strong British pound. Tata Steel had a net profit of Rs 157.11 crore in the year-ago period.
(With inputs from agencies)