Sensex ends 155 points higher, Nifty fails to hold 10,800; pharma cracks

CNBC

Market at Close: Equity benchmarks have ended the day on a positive note, though off their high points. The Nifty closed below 10,800-mark.

Among sectors, all but three sectors ended the session in the green. In the broader markets, the Nifty Midcap index closed around flat line. 
At the close of market hours, the Sensex was up 155.06 points or 0.43% at 35850.16, while the Nifty was higher by 44.40 points or 0.41% at 10771.80. The market breadth was negative as 1292 shares advanced, against a decline of 1310 shares, while 172 shares were unchanged.
Axis Bank, Tata Motors, and Bharti Infratel gained the most, while Bajaj Auto, Yes Bank, and Indiabulls Housing were the top losers.  
TAX COLLECTIONS DATA
Revenue from direct tax grew 13.6 percent to Rs 7.43 lakh crore in the first nine months of the current financial year, data released by the Finance Ministry reveals.
The tax receipt figure indicates net direct tax collection, which is arrived at after adjusting refunds. The government has met more than 64.7 percent of its budgeted estimate of Rs 11.50 lakh crore.
Refunds issued  by the Income Tax Department jumped 17 percent on-year to Rs 1.30 lakh crore during April-December.
Gross tax collection grew 14.1 percent on-year to Rs 8.74 lakh crore.  
MARKET OUTLOOK 
Worries of supply crunch on the prospect of tough sanctions on Iran and healthy demand from top oil consumers kept oil prices at multi-year highs earlier. However, the outlook of oil has turned negative amid rising production and concerns over global economic growth, writes Hareesh V of Geojit. 
The initially expected supply drop by Iran owing to sanctions has not materialised during the year as the US unexpectedly gave broad exemptions to major Asian oil consumers.
Buzzing stock: ITC shares gained 1.5 percent intraday on Monday after global investment firm Macquarie maintained outperform call on the stock with a price target at Rs 376, implying 34 percent potential upside.
Calamity cess of 1 percent limited to Kerala is significantly positive for the company because the street was expecting a Pan-India calamity cess at a higher rate, the research house said.
Thomas Isaac, the state's Finance Minister, after meeting a group of ministers in the national capital said Kerala would be permitted to have 1 percent cess on the value of goods and services across all or select items for two years.
Market Update: Some profit booking has dragged the market off its high points. The Sensex is up over 200 points, while the Nifty has breached 10,800-mark. 
The Sensex is up 241.25 points or 0.68% at 35936.35, and the Nifty up 65.50 points or 0.61% at 10792.90. The market breadth is positive as 1397 shares advanced, against a decline of 771 shares, while 129 shares were unchanged.
Tata Motors and Axis Bank are the top gainers, while Bajaj Auto, Hero MotoCorp, and Indiabulls Housing lost the most.   
Market opens: Equity benchmarks have witnessed a strong start, with the Sensex rising over 260 points, while the Nifty has reclaimed 10,800.
All sectors are trading in the green, with maximum gains seen among metals, automobiles, consumption, as well as financials. The Nifty Midcap index is up around 0.70 percent. 
The Sensex is up 266.96 points or 0.75% at 35962.06, while the Nifty is higher by 87.90 points or 0.82% at 10815.30. The market breadth is positive as 415 shares advanced, against a decline of 67 shares, while 26 shares were unchanged.
Yes Bank, Vedanta, and Titan are the top gainers, while Bajaj Auto is the only loser. 
Rupee opens: The Indian rupee gain in the early trade on Monday. It has opened higher by 30 paise at 69.42 per dollar versus Friday's close 69.72.
Rupee rose against the US dollar ahead of the important non-farm payrolls number that was released later on Friday. The US economy saw job addition of 312,000 jobs in December compared to 176,000 job additions in the previous month, said Motilal Oswal.
Market at pre-open: Equity benchmarks are likely to see a good start, with the Nifty trading around 10,800-mark. 
The Sensex is up 202.40 points or 0.57% at 35897.50, and the Nifty up 80.20 points or 0.75% at 10807.60.
The Indian rupee has gained 30 paise to trade around 69.42 per US dollar. 
Asia trades higher: Asian shares sped ahead on Monday as a dovish turn by the Federal Reserve and startlingly strong US jobs data soothed some of the market’s worst fears about the global outlook.
Crude Update: Oil prices rose by more than 1 percent on Monday, lifted by optimism that talks could soon resolve the trade war between the United States and China, while supply cuts by major producers also supported the market.