Sensex gains 278 points; IT, metal stocks in focus


Market close: Last hour surge help the benchmark indices to close near day's high level with Nifty finishing above 11,250 level.

At close, the Sensex was 278.60 points up at 37,393.48, while Nifty was up 100.10 points at 11,257.10. About 1,155 shares advanced, 1296 shares declined, and 149 shares were unchanged. 
Zee Entertainment, BPCL, UltraTech Cement, IOC and Bajaj Finance were among major gainers on the Nifty, while losers were Yes Bank, Bharti Airtel, IndusInd Bank, Coal India and Cipla.
Except pharma, all other sectoral indices ended higher led by IT, metal, energy, bank, auto, FMCG and infra.
Market Update: Sensex is up 107.31 points at 37,222.19, while Nifty is up 45.20 points at 11,202.20. About 899 shares have advanced, 1331 shares have declined, and 117 shares are unchanged.
Tata Motors, Infosys and Zee Entertainment are the biggest index gainers. Coal India, Yes Bank and IndusInd Bank are the biggest losers.     
On the sectoral front, all except pharma and PSU banks are in the green, with PSU banks being the biggest loser, down 0.95 percent. Media stocks are the biggest gainers, up 1.42 percent on Nifty
Market Update: Benchmark indices are trading higher with Nifty hovering around 11,200 level.
At 12:21 hrs IST, the Sensex is up 77.47 points or 0.21% at 37192.35, and the Nifty up 32.70 points or 0.29% at 11189.70.
Crude Update: Oil prices rose on Thursday for a third straight session, as the risk of conflict in the Middle East stoked fears of supply disruptions, negating an unexpected rise in US inventories. 
Market Update: Sensex is down 9.05 points at 37105.83, while Nifty is down 2.70 points at 11154.30. About 761 shares have advanced, 1147 shares have declined, and 107 shares are unchanged.
Tata Motors, Power Grid Corp and Zee Entertainment are the biggest index gainers. Sun Pharma, Yes Bank and Bharti Airtel are the biggest losers.     
On the sectoral front, all except IT, media and realty are in the red, with Pharma being the biggest loser, down 1.73 percent. Media stocks are the biggest gainers, up 1.22 percent on Nifty
Warren Buffett's Berkshire unveils $861 million Amazon stake
Warren Buffett's Berkshire Hathaway Inc said it owned $860.6 million of Inc shares at the end of March, after the billionaire admitted to underestimating the online retailer and its Chief Executive Jeff Bezos.
Central Bank of India hits 52-week low: Share price of Central Bank of India touched 52-week low of Rs 25.35, falling more than 8 percent after company's net losses increased in the quarter ended March 2019.
Buzzing: Shares of Mahindra Holidays and Resorts India fell nearly 3 percent on May 16 after the hospitality company reported a 62.6 percent YoY slump in net profit in the fourth quarter ended March 31.
Market opens: Indian indices opened on positive note on Thursday on the back of mixed global cues.
The Sensex is up 57.54 points at 37172.42, while Nifty is up 15.50 points at 11172.50. About 389 shares have advanced, 232 shares declined, and 40 shares are unchanged. 
J&K Bank, JSW Steel, Tata Steel, Vedanta, Tata Chemical, Tata Motors and Tata Global are among major gainers on the indices, while Indiabulls Housing, BPCL, L&T, Coal India, ITC, HDFC Bank, Manappuram Finance are among major losers.
On the sectoral front, buying seen in the metal, IT, auto and PSU banking stocks.
Market at pre-open: Benchmark indices are trading flat in the pre-opening session.
At 09:01 hrs IST, the Sensex is down 4.23 points at 37110.65, and the Nifty up 49.20 points at 11206.20..
Credit Suisse on Lupin 
Q4 result is weak; sales miss of 6% & EBITDA miss of 17%
Margin likely impacted by forex loss in other expenses 
Solosec continued to stay weak 
CLSA on Lupin
Sell rating, target cut to Rs 700 from Rs 730 per share
Turnaround some time away & contingent on timely US approvals
Credit Suisse on Edelweiss 
Neutral call, target cut to Rs 170 from Rs 180 per share
2% QoQ loan growth Vs 15% QoQ decline in Q3
Credit Suisse on Jubilant Food
Maintain neutral call; target at Rs 1,350 per share
Q4 adjusted PAT grew 20% YoY, in-line with our estimates
Morgan Stanley on Jubilant Food
Overweight call, target at Rs 1,525 per share
Domino's opened >100 new stores in FY19 & trend should continue in FY20
Store addition will drive > 6% revenue growth in FY20 
Jefferies on Jubilant Food
Maintain buy with a target of Rs 1,450 per share
Lower SSSG made up for by higher than expected store expansion
CLSA on Jubilant Food
Maintain buy call, target cut to Rs 1,500 from Rs 1,600 per share
SSG misses but a higher margin & other income drive earnings Beat
CLSA on Motherson Sumi
Maintain outperform, target cut to Rs 135 from Rs 150 per share
Macro pressures hurt, but PE is at 9-year low Vs peers
Deutsche Bank on Tata Global
Hold rating, target at Rs 240 per share
Merger of consumer product business of Tata Chemicals into company is for long term
Deutsche Bank on Tata Chemicals
Buy rating, target raised to Rs 715 from Rs 695 per share
De-merger unlocks consumer business valuation; buy on 30% upside potential
US markets close higher: Wall Street turned positive on Wednesday following reports that US President Donald Trump would hold off on imposing tariffs on imported cars and parts, easing slowdown fears after downbeat economic data.
SGX Nifty: Trends on SGX Nifty indicate a flat opening for the broader index in India, a gain of 10 points or 0.09 percent. Nifty futures were trading around 11,172-level on the Singaporean Exchange.