Nifty ends below 10,750; Sensex gains 100 points; PSU banks drag

May 09, 03:36 PM (IST)   

After trading in a narrow range, the market has closed on positive note . The Sensex was up 103 points at 35319 and Nifty ended below 10,750 level.
Among sectors, PSU banking stocks remained the laggard along with pharma and FMCG stocks.
Tata Motors, Titan Company, TCS, UPL and Yes Bank are the top gainers on the Nifty.
May 09, 03:09 PM (IST)   
The benchmark indices loses some shine in the final hour of trading as Nifty is trading below 10,750 and Sensex is trading around 35,300. 
The Sensex is up 91.24 points at 35307.56, and the Nifty up 21.40 points at 10739.20. About 1111 shares have advanced, 1466 shares declined, and 145 shares are unchanged. 
Tata Motors, TCS, Axis Bank, Asian Paints and Yes Bank are the top gainers on the Sensex, while losers are ICICI Bank, Sun Pharma, Bajaj Auto, M&M and HDFC.
May 09, 02:58 PM (IST)   
Earning reaction: Shares of EID Parry touched a 52-week low of Rs 252 on the back poor set of numbers for the quarter ended March 2018.
The company's Q4 net profit declined percent at Rs 40.48 crore against Rs 300.38 crore in the year ago period.
Revenue from operation was down at Rs 3386.54 against Rs 3428.10 crore. EBITDA of the company was at Rs 259.2 crore and margin stood at Rs 7.6 percent.
The company has recommended a final dividend of Rs 3 per equity share for the year ended March 31, 2018.
The board also recommended issue of secured/unsecured non-convertible debentures on a private placement basis for an amount not exceeding Rs 300 crore during the year 2018-19 subject to approval of the shareholders at the ensuing AGM of the company.  
May 09, 01:44 PM (IST)   
A sharp surge is visible on the market during the afternoon session, with the Sensex rising over 150 points. The Nifty is advancing gains around 10,750-mark. Reversal of losses in financials along with a surge in metals and IT names are pushing indices higher. Upmove in auto stocks such as Tata Motors is also aiding the rally. Midcaps continue to have a day of underperformance to the benchmarks. Tata Motors, Asian Paints and Reliance are the top gainers on both indices, while SBI, Maruti Suzuki, BPCL and UltraTech Cement are under pressure.
May 09, 01:25 PM (IST)   
May 09, 01:16 PM (IST)   
Vijaya Bank will grow net profit by 5 times in FY19, says CEO Sankara Narayanan
Vijaya Bank, one of the smallest public sector lenders, hopes to grow its net profit by five times to over Rs 1,000 crore by the end of this financial year ending March 2019.
May 09, 12:58 PM (IST)   
The market has gathered some strength now, with the Sensex rising around 80 points, while the Nifty was trading well above 10,700. A turnaround in banking names has brought about this rise in the market, which was already witnessing support from metals and IT names. Midcaps, meanwhile, continue to trade weak, falling around one third of a percent. Tata Motors, Bharti Airtel, and Bharti Infratel have gained the most on both indices, while HDFC, M&M, BPCL and UltraTech Cement were the top losers.
May 09, 12:49 PM (IST)   
May 09, 12:15 PM (IST)   
Buzzing: Strides Shasun rose 3.5 percent as company has agreed with Apotex to merge their respective Australian business operations.
Strides Shasun has agreed with Apotex, in principle, to merge their respective Australian business operations.
The transaction is subject to entering into definitive agreements between the parties, satisfactory due diligence, customary closing conditions and statutory approvals, including approval of Australian Competition and Consumer Commission (ACCC).
May 09, 11:42 AM (IST)   
The benchmark indices continues to trade flat with positive bias. The Sensex is up 27.80 points at 35244.12, and the Nifty up 3.20 points at 10721.
About 1141 shares have advanced, 1127 shares declined, and 123 shares are unchanged. 
Tata Motors, Asian Paints, Bharti Airtel, Tata Steel, Yes Bank, Titan Company, Bharti Infratel, HCL Tech and Tech Mahindra are the top gainers on the indices.
Tata Motors added 3.4 percent as company's wholly owned subsidiary Jaguar Land Rover (UK) has posted robust sales numbers in April 2018.
May 09, 11:31 AM (IST)   
Tata Motors April JLR sales up 12%: Shares of Tata Motors added 3.4 percent as company's wholly owned subsidiary Jaguar Land Rover (UK) has posted robust sales numbers in April 2018.
Jaguar Land Rover reported total retail sales of 45,180 vehicles in April 2018, up 11.9 percent year-on-year.
Retail sales for April were up significantly year-on-year in China (28.9%), the UK (25.9%), overseas markets (21.3%) and North America (2.5%) but down in Europe (-10.2%), with continuing uncertainty over diesel in the UK and Europe.
May 09, 11:21 AM (IST)   
Ambit Capital bullish on rural consumption plays, private banks
In an environment where macros will overweigh markets, investors should look out for stocks which promise earnings growth visibility, Pramod Gubbi, Head of Equities at Ambit Capital, said in an interview to CNBC-TV18.
May 09, 11:03 AM (IST)   
Earning reaction: Sintex Industries rose 15 percent on robust numbers declared by the company in the quarter ended March 2018.
The company has posted 16 percent jump in its Q4 (Jan-March) net profit to Rs 57.42 crore against Rs 49.54 crore in the same quarter last year.
Revenue of the company slipped by 6 percent at Rs 617.27 crore versus Rs 661.40 crore.
May 09, 10:52 AM (IST)   
Buzzing: Suven Life Sciences gained nearly 2 percent as company secured product patents in Australia, Eurasia and Europe.
The company has been granted 1 product patent each from Australia, Eurasia and Europe corresponding to the new chemical entity (NCE) for the treatment of disorders associated with Neurodegenerative diseases and these Patents are valid through 2034.
The granted claims of the patents include the class of selective 5-HT4 compound.
May 09, 10:31 AM (IST)   
May 09, 10:11 AM (IST)   
The AuM of corporate bond ETFs stand at US$300bn, or more than seven times the inventory sitting on bond dealers’ balance sheet! pic.twitter.com/vQ2KpMhTpg
May 09, 10:10 AM (IST)   
Shares have continued to trade flat this morning, digesting the developments coming in from the White House as well as higher crude prices. Selling pressure is visible across sectors, barring IT and metal names. 
The sectoral indices have risen up to 1.4 percent. A rally in global commodities has pushed up metal stocks in India. Hindalco and Vedanta are up around 2-4 percent. 
Tata Steel is the top gainer on the Sensex, with a rise of 1 percent. Meanwhile, banking stocks are witnessing some profit booking. 
May 09, 09:44 AM (IST)   
May 09, 09:39 AM (IST)   
Global brokerages upgrade these 6 stocks to buy post Q4 results
Global brokerage houses have upgraded a few stocks, highlighting robust Q4 FY18 results. Moneycontrol takes a look at six such stocks which have seen a ratings upgrade
May 09, 09:24 AM (IST)   
US to pull out of Iran nuclear deal: Donald Trump
President Donald Trump announced Tuesday the U.S. will pull out of the landmark nuclear accord with Iran, dealing a profound blow to U.S. allies and potentially deepening the president's isolation on the world stage.
May 09, 09:20 AM (IST)   
Equities have begun the day on a lower note, with the Sensex shedding around 50 points, while the Nifty held 10,700 in the opening tick. The market breadth was in favour of advances. 
The Sensex is down 48.69 points or 0.14% at 35167.63, and the Nifty down 16.30 points or 0.15% at 10701.50. About 302 shares have advanced, 229 shares declined, and 59 shares are unchanged.
Selling is visible across all sectors, barring Nifty IT, which is trading over half a percent higher. Big cuts are visible in financial names, with Nifty Bank falling 0.40 percent. Midcaps too are trading lower. 
OMC stocks have taken a hit on the back of higher crude oil prices. 
May 09, 09:15 AM (IST)   
Stocks in the news: Lupin, Dewan Housing, Eicher Motors, Tata Steel, SPARC, Sintex, Quess Corp
Here are the stocks which are in news today: Results Today: Eicher Motors, Arvind, Federal Bank, EID Parry, Jubilant Life, JSPL, Parag Milk Foods, Dhampur Sugar, Hikal Ex-dividend: HCL Technologies
May 09, 09:10 AM (IST)   
Pre-opening rates have kicked in. The initial trends show Nifty starting lower, while the Sensex is likely to be around flatlines. 
May 09, 09:06 AM (IST)   
What changed for the market while you were sleeping? 12 things you should know
The index closed in green with gains of 2 points but it formed a bearish candlestick pattern which suggests momentum seems to be fading.
May 09, 09:05 AM (IST)   
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