Sensex rallies 345 pts, Nifty nears 10,900; Banking stocks gain

stock market highIndia’s share markets extended the session at fresh lifetime highs tracking global cues, and after media report that the govt is allowing 100 percent FDI in the banking sector. The BSE Sensex gained 344.69 points at 35,426.51 while NSE Nifty added 78 points to mark the new high of 10,866.50 on Thursday, later morning.

The value buying in the shares such as ICICI Bank, HDFCs, SBI, ITC, Axis Bank, HUL, L&T and Yes Bank led the key equity indices to fresh record peaks.

Banking stocks gained after media reports that the govt considered allowing 100 percent FDI in the banking sector. Effectively, ICICI Bank, SBI, HDFC Bank, Yes Bank, Axis Bank, PNB, Federal Bank, Bank of Baroda, Indusind Bank rose in different extents.

Shares of SBI, HDFC Bank, Hero MotoCorp, ICICI Bank and Yes Bank were the top five gainers among the Sensex stocks on Thursday.

Shares of Yes Bank jumped 3.36 pct to the day’s high of Rs. 354 ahead of its Q-3 earnings, while stocks of HDFC Bank rose 2.32% to hit an all-time peak of Rs. 1,935.

Shares of UltraTech Cement, Adani Ports SEZ, Yes Bank and Bharti Airtel will be watched ahead of their respective third-quarter earnings scheduled today.

 

Nifty gainers and losers

Sensex up 114 points, Nifty above 10,720 mark; TCS, Infosys rose

stock market high Key Indices after opening in a flat note in the morning due to weak Asian cues. However, Sensex and Nifty erased their early losses and were trading in the green. The BSE Sensex was up 79.02 points or 0.23 per cent at 34,850.07 and the Nifty was up 10.4 points or 0.1 per cent at 10,710.85 in later hours.

The Sensex helped by a surge in prices of Infosys and TCS which were up by more than 2 percent each. Shares of ICICI Bank, HDFC Bank and Dr Reddy’s Lab were up by more than 1 percent each. Asian Paints, Coal India, Power Grid shares were among the top losers in the Sensex.

GAIL India, Zee Entertainment and Wipro shares registered gains in the Nifty, whereas shares of Kotak Mahindra Bank and Ambuja Cement posted declines. GAIL India’s stock was up over 1% as the company and Russia’s Gazprom have renegotiated their long-term 2.5-mtpa liquefied natural gas supply pact.

Shares of Sun Pharma rose over 1 percent to Rs. 583 after the company announced that it got license to sell the generic version of Linzess in US.

Shares of IPCA Laboratories Limited rose over 1 percent to Rs. 580.50 after the company said it acquired Pisgah Labs in US for USD 9.65 million.

11 Jan Sensex, Nifty trading flat, O&G, capital goods down

Sensex Nifty flat note India’s share markets began on a cautious note on Thursday as investors were eagerly waiting for the Q3 earnings of TCS and IndusInd Bank. 

The BSE index Sensex was down 23 points at 34,409 levels and the NSE index Nifty was down 13 points at 10,618 levels in the later morning hours.

Oil and gas index fell 0.2%, followed by capital goods 0.14%, banking 0.11% and PSU 0.08%, while the realty stocks gained the most by 1.25%, consumer durables 0.32%, IT 0.3 percent.

Top Sensex gainers were includes Kotak Bank, Bharti Airtel, Infosys Ltd, Tata Motors and ONGC. On the other hand the major losers were Axis Bank, Wipro, Coal India, ICICI Bank and YES Bank.

Stocks of Maruti Suzuki India spiked 0.16 percent at Rs 9,398.85 after the company announced a price in its variants owing to increase in commodity and allied costs.

3 Oct- Stock Watch: Stocks of Auto companies will be in focus today

Indian markets after an extensive weekend began the day on Tuesday with a beat as the BSE Sensex surged 233 points and the NSE Nifty was back on top of 9,850 in the morning hours, on buoyant buying ahead of the RBI policy review. The RBI’s 2-day monetary policy review begin on Tuesday and the outcome is due Wednesday.

These Auto stocks will be in focus rally today
The country’s largest auto company Maruti Suzuki India reported 9.3% growth in total sales at 1,63,071 units in Sept.

Auto stocks

Similarly, Hero MotoCorp, the largest 2-wheeler maker has reportedly sold over a million units in the festive season so far, while Bajaj Auto reported 14% increase in total sales at 4,28,752 units in Sept.

Eicher Motors: Royal Enfield, the two-wheeler division of Eicher Motors reported a 22% growth in sales at 70,431 units in Sept.

Further, the state-run Energy Efficiency Services Tata Motors has announced that it will procure 10,000 electric cars from Tata Motors, valued at around Rs 1,120 crore. The company reported a 25% increase in domestic sales at 53,965 units in Sept month.