Nifty ends higher; Bajaj Auto, L&T, ICICI Bank gain

It was a good day for the Indian equities as benchmark indices, Sensex and Nifty, closed up 1%. The Nifty ended at 5,695.55, within striking distance of the 5,700 mark. All the BSE sectoral indices were closed in positive terrain.

Trader Atul Suri is very bullish on the market. He expects the Nifty to break lifetime high in the medium-term. "I have technical target of 6,730 on the Nifty," he adds. According to him, some spaces in the market like consumer space, FMCG, pharmaceutical space and autos are in a very sublime space.

The Sensex was up 193.75 points or 1.04% at 18755.45, and the Nifty was up 50.50 points or 0.89% at 5695.55.

About 1534 shares advanced, 1269 shares declined, and 654 shares were unchanged.

Today, Bajaj Auto touched a new all time high of Rs 1,905. It was biggest gainer on the Nifty. Its October sales numbers were better than expected. The stock closed at Rs 1,898.00, up Rs 52.95, or 2.87%. Total sales grew by 14% month-on-month. Management told CNBC-TV18 that export markets have stabilised, they see better sales in November and December.

Hero Moto too gained 2%. It total sales was higher by 31% to over 5 lakh units month-on-month.

Top gainers on the Sensex were GAIL at Rs 358.60 up 3.75%, Bajaj Auto at Rs 1,898.55 up 2.90%, L&T at Rs 1,674.90 up 2.68% and ICICI Bank at Rs 1,079.20 up 2.12% and Hero Motocorp at Rs 1,945.45, up 2.11%.

Top losers on the Sensex were Bharti Airtel at Rs 274.90 down 2.12%, HUL at Rs 533.10 down 0.8%, Jindal Steel at Rs 388.85 down 0.8%, Sun Pharma at Rs 697.15 down 0.46%.

Most active shares on BSE were Dr Reddys Labs, SBI, Union Bank, United Spirits and L&T.

Top percentage gainers on the BSE - Kwality Dairy, Cinemax India, 20 Microns, Ratnamani Metal and Eimco Elecon were up  16-20%.

Top percentage losers on the BSE - JTL Infra, Zylog Systems, Pradip Overseas were down 9-12%.

Top gainers on the BSE Midcap - STC India, Fresenius Kabi, Kirloskar Oil, Shriram City, PTC India were up 5-7%.

Top losers on the BSE Midcap - Balrampur Chini, Clariant, Vakrangee, Indiabulls and Jyothy Labs were down 3-6%.

The Indian benchmark indices were trading higher, but were off the day's high. The Nifty was trading around the 5,700 mark, it touched an intraday high of 5,711. All the BSE sectoral indices were trading in the green. The BSE capital goods, FMCG, auto, IT and bankex were up over 1%.

The Sensex was up 175.26 points or 0.94% at 18,736.96. The Nifty was up 47.45 points or 0.84% at 5,692.50. About 1,549 shares advanced, 1,165 shares declined, and 743 shares were unchanged.

In earnings corner today, IT stocks were in focus, after Wipro reported numbers. The company's revenues are in line with estimates, though there are some concerns on volume growth. The stock was up 1%. Even TCS and Infy were gained 1% each today.

Bajaj Auto, which touched a new all time high of Rs 1,905 today, was the biggest gainer on the Nifty today. Its October sales numbers were better than expected. The stock was trading at Rs 1,898.25, up Rs 53.20, or 2.88%.

All eyes were on Jet Airways now. It is expected to release numbers in just a short while.

Top gainers on the Sensex were Bajaj Auto at Rs 1,898, up 2.87%, GAIL at Rs 354.50, up 2.56%, ITC at Rs 285.80, up 2.35% and L&T at Rs 1,669.45, up 2.34% and Hero Motocorp at Rs 1,944, up 2.03% 

The Indian benchmark indices witnessed a smart surge. The Nifty stood firm at 5,700 on broad based buying. Outside the index too, the breadth was strong. The Sensex was up 227.59 points or 1.23% at 18789.29, and the Nifty rose 65.30 points or 1.16% at 5710.35.

About 1605 shares advanced, 1005 shares declined, and 847 shares were unchanged.

The top gainers on the Sensex were Bajaj Auto   at Rs 1,900.10 up 2.98%, L&T at Rs 1,677, up 2.81%, M&M at Rs 918.70, up 2.20%, Wipro at Rs 369.35, up 2.20% and Sterlite Ind at Rs 101.80, up 2.16%.

On the other hand, Bharti Airtel at Rs 278.40 down 0.87%, HUL at Rs 535.15 down 0.42%, Sun Pharma at Rs 698.10 down 0.32% and Reliance Rs 806.20 down 0.11%, were the top losers on the Sensex.

Bajaj Auto hit a 52-week high of Rs 1,900, up 3% on the back of stellar October sales numbers. Its total sales grew by 14% on a month on month basis to over 4 lakh units. The management told CNBC-TV18, that export markets have stabilised, and the company sees better sales in festive season (November and December).

Hero Moto also gained 2% after its total sales in October stood higher by 31% to over 5 lakh units month on month basis.

Union Bank surged 7% on the back of good set of numbers in the second quarter, its asset quality sustained after disappointing in the last quarter. Slippages were below Rs 800 crore in Q2 versus last quarter's Rs 1,630 crore. Restructured assets also dipped to Rs 839 crore.

The BSE Sensex gained further. It was trading nearly at a high point of the day. All the BSE sectoral indices were trading in the green. Strong buying was seen in capital goods, IT, auto and banking stocks. The BSE broader indices midcap and smallcap were up 0.61% and 0.77% respectively.

Meanwhile, public sector bank Union Bank of India announced its second quarter results. Its net was up by 57% at Rs 555 crore.

Trader Atul Suri is very bullish on the market. "I expect the Nifty to break lifetime high in the medium-term. I have technical target of 6,730 on the Nifty," he adds.

According to him, some spaces in the market like consumer space, FMCG, pharmaceutical space and autos are in a very sublime space.

The Sensex was up 155.97 points or 0.84% at 18717.67, and the Nifty was up 44.80 points or 0.79% at 5689.85.

About 1,548 shares advanced, 914 shares declined, and 995 shares were unchanged.

Top gainers on the Sensex were Bajaj Auto at Rs 1,890, up 2.44%, L&T at Rs 1,670, up 2.38%, Hero Motocorp at Rs 1,943.50, up 2.01%, GAIL at Rs 352.25, up 1.91% and M&M at Rs 916, up 1.90%.

The Sensex was up 0.86% and the Nifty adds 0.84%. Bank shares gain after they had underperformed the Nifty in recent days on concerns over provisioning against restructured assets.

ICICI Bank rises 1.43%, and the State Bank of India up 0.9%.

Domestic market gains in line with Asian shares that advanced with returning risk appetite on Friday as data suggested some stabilisation in the global recovery trend, particularly in the United States and China.

Wipro shares up 1% after reporting a 24% rise in September quarter profit at 16.11 billion rupees, beating estimates.

Power Grid shares rose 0.9% a day after it said September quarter net profit rose 59% to 11.26 billion.

The Indian equity benchmark indices continued to trade higher. But the NSE Nifty still was not able to breach the 5,700 mark, it touched intraday high of 5,697. The BSE capital goods index outperformed the other sectoral indices; it was up over 1.5%. Strong buying was also seen in realty, auto, metal and banking stocks.

Stocks like ITC, Reliance, ICICI Bank, HDFC Bank and Infosys were positive contributors to the Sensex. However, HUL and Bharti Airtel were the negative contributors.

The Sensex was up 149.61 points or 0.81% at 18711.31, and the Nifty was up 45.10 points or 0.80% at 5690.15.

About 1465 shares advanced, 582 shares declined, and 1,410 shares were unchanged.

TS Harihar of ICICI Securities said he expects the market to consolidate for few more months before breaking above 5,850 levels. "The Nifty is likely to trade in a broad range of 5,500-5,850 now. The overall trend seems to be positive, but we will have to be patient," he said in an interview to CNBC-TV18.

Anil Manghnani, Modern Shares & Stock Brokers said the Nifty is back into that key range of 5,630-5,730. "If you are looking for a bigger move on the market on the upside then you have to watch for 5,730 again. If it can be taken out then there will be a resumption of the uptrend," he adds.

Top gainers on the Sensex were Bajaj Auto at Rs 1,887.30 up 2.29%, L&T at Rs 1,662.60 up 1.92%, Hero Motocorp at Rs 1,937.55 up 1.70%, M&M at Rs 914 up 1.68% and BHEL at Rs 230.40 up 1.68%.

Most active shares on BSE were Aditya Birla Nuvo, Jindal Steel, Fresenius Kabi, Tata Steel and SBI.

Top percentage gainers on the BSE - Cinemax India at Rs 99.95 up 19.99%, Kwality Dairy at Rs 30.25 up 17.48%, Eimco Elecon at Rs 198.70 up 16.30%, Ratnamani Metal at Rs 118.50 up 15.84% and Aekta at Rs 32.85 up 15.26%.

Top percentage losers on the BSE - Zylog Systems ar Rs 120.80 down 9.99%, Shelter Infra at Rs 25.10 down 7.89%, Pradip Overseas at Rs 46.90 down 7.04%, Aplab at Rs 24.05 down 6.42% and Flexituff Inter at Rs 226.50 down 6.39%.

Top gainers on the BSE Midcap - Kirloskar Oil at Rs 199.25 up 6.32%, Fresenius Kabi at Rs 95.95 up 6.02%, Shree Global Tr at Rs 47.50 up 4.97%, Carborundum at Rs 157.70 up 4.40% and AstraZeneca at Rs 1,571 up 4.15%.

Top losers on the BSE Midcap - Tuni Textile at Rs 258.10 down 3.98%, Responsive Ind at Rs 92.00 down 2.9%, Vakrangee at Rs 55.50 2.8%, Jyothy Labs at Rs 179.10 down 1.65% and Dewan Housing at Rs 199 down 1.58%.

Indian equity benchmarks opened on a strong note today. The Nifty traded at a sniffing distance from the 5,700 mark. Strong buying was seen in Wipro, ITC, ICICI Bank, Reliance, HDFC Bank, M&M and Hero Motocorp.

Technical analyst Sudarshan Sukhani of s2analytics.com recommended traders to buy the Nifty, if it sees new highs after the first 10-15 minutes of opening trade. "There is no trade here except for intraday trading. The Nifty could give us another 30-40 points on the upside inspite of the gap up," he said in an interview to CNBC-TV18.

Meanwhile, IT player Wipro announced its Q2 earnings today. Profit for the three months ended September rose to Rs 1,611 crore from Rs 1,301 crore in the year-ago period. Sukhani is not downbeat on the stock, post its earnings. One could look at dips in the stock as a buying oppportunity rather than selling, he added.

The Sensex was up 151.09 points or 0.81% at 18,712.79, and the Nifty was up 43.70 points or 0.77% at 5,688.75.

About 694 shares advanced, 132 shares declined, and 2,631 shares were unchanged.

The US markets kicked off the first day of November with over 1% gains as Wall Street cheered a batch of better-than-expected economic reports.

Asian markets were trading higher in the morning.  Hang Seng, Nikkei and Seoul Composite were trading higher with one percent gain.