Sensex gains 400 points, Nifty above 10,850; IT, energy stocks led gainers
15 January 2019
Trident's Q3 earnings: Net profit was up 53.6 percent at Rs 112.1 crore against Rs 73 crore. Revenue rose 18 percent at Rs 1,291 crore against Rs 1,094 crore, YoY.
Network 18 Media & Investments Q3 results: Company's consolidated operating revenue was up 20 percent at Rs 1,524 crore against Rs 1,267 crore. Operating EBITDA was up 18 percent at Rs 88 crore against Rs 75 crore, YoY.
Foseco India to consider voluntary delisting: Share price of Foseco India locked at 20 percent upper circuit on Tuesday as company board is going to consider voluntary delisting of the shares from the Bombay Stock Exchange (BSE).
IEA expects rate cut on lower IIP & CPI: Index of Industrial Production slumped to mere 0.5% in the month of November after a high of 8.1 in the preceding month. Consumer Price Index on the other hand eased for a 6th straight month to 2.19% from a high of 5% in June. The CPI in December hit a 18 month low.
Consumer Price Index tapering downwards coupled with a low IIP should make a good cause for the RBI to lower the interest rates in the February monetary policy.
The slowing rural inflation does not augur well for the farmers as they have been burdened with lower value for their output.The cyclical nature of the index of industrial production is expected to continue and the economy can be poised for lower production rates in the beginning of the year. This can in turn further downgrade the GDP growth estimates of the country for the current fiscal year.
Yes Bank jumps 5%: Yes Bank shares rallied 5 percent intraday Tuesday after a media report indicated that Deutsche Bank's Ravneet Gill is leading the race for CEO post. The rally was in addition to 6.2 percent upside seen in the previous session.
Sadbhav Engineering up 2%: Global research house Macquarie expects 71 percent potential upside in the stock on likely divestment in road projects.
The brokerage said an asset sale would be key to a re-rating for the stock. Hence it has maintained outperform rating with a target price at Rs 374 apiece.
Buzzing: Shares of Tata Metaliks slipped 2.3 percent as company reported weak numbers for the quarter ended December 2018. The company's Q3 net profit fell to Rs 39.63 crore versus Rs 40.35 crore in a year ago period.
Market Update: Bulls have gathered some strength now, with the Sensex rising over 300 points. The Nifty has reclaimed 10,800.
The Sensex is up 298.71 points or 0.83% at 36152.27, and the Nifty up 86.90 points or 0.81% at 10824.50. The market breadth is positive as 1004 shares advanced, against a decline of 336 shares, while 53 shares were unchanged.
Market Opens: Equity benchmarks have begun higher on Tuesday morning, with the Nifty trading near 10,780.
The Sensex is up 145.79 points or 0.41% at 35999.35, while the Nifty is higher by 47.20 points or 0.44% at 10784.80. The market breadth is positive as 265 shares advanced, against a decline of 70 shares, while 20 shares were unchanged.
All sectoral indices traded in the green, with maximum gains seen among banks, energy, and IT names. The Nifty Midcap index is in tandem with benchmarks.
Hero MotoCorp, Infosys, Wipro and Zee Entertainment are the top gainers, while HCL Tech, Bharti Airtel, and GAIL lost the most.
Market at pre-open: Equity benchmarks are mixed on Tuesday morning, with the Sensex rising around 100 points, while the Nifty is below 10,700.
The Sensex is up 98.98 points or 0.28% at 35952.54, and the Nifty down 53.80 points or 0.50% at 10683.80.
The Indian rupee opened higher by 16 paise at 70.77 per dollar on Tuesday versus previous close 70.93.
Crude Update: Oil prices inched up on Tuesday amid supply cuts by producer club OPEC and Russia, although the darkening economic outlook capped gains.
Wall Street ends lower: US stocks declined on Monday as an unexpected drop in China's exports reignited worries of a global economic slowdown and prompted caution among investors as the corporate earnings season kicked off.
SGX Nifty: Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 55 points or 0.51 percent. Nifty futures were trading around 10,824-level on the Singaporean Exchange.