Market open higher, Reliance, ITC, HDFC Bank earnings in focus

Sensex nifty up Sensex, Nifty edged higher in early trade led by Asian stock’s firmness and the GST council in its last meet slashed the tax rate on 54 services and 29 items together easing the return filing process for businesses boosted sentiment. Q3 earnings heavy weight companies like HDFC Bank, ITC Ltd, Reliance Industries and Wirpro are also under focus. 

The BSE Sensex was trading at 35,384.30, up 124 points, while the broader Nifty 50 index was ruling at 10,843, up 25 points in later morning hours.

HDFC Bank, HCL Technologies, Reliance Industries Ltd, ITC Ltd, and Wipro Ltd are among the major companies that will be unveiling their Q3 results on Friday.

Major contributors to Sensex gain include Reliance Industries Limited, HDFC, Adani Ports, ITC Ltd, SBI and Larsen and Toubro.

Shares of HCL Technologies rose 0.4 percent after the company retained its full fiscal year revenue and margin growth guidance.

Private banking stocks were also among the major gainers with those of Yes Bank up 1.8 percent.
Bharti Airtel Ltd shares fell 1% and were the worst hit on Nifty50 index, since the company reported an 11 pct on-quarter decline in its consolidated net profit.

Sensex, Nifty trade higher, auto Stocks and banking stocks fall

Stock trading tips Sensex and Nifty were trading higher in early trade, tracking positive signs from Asian markets and continued rally in metal stocks. The BSE Sensex was up 42.12 points or 0.12% at 33,835.50. The NSE Nifty-50 index was up 13.60 points or 0.13% at 10,456.50 in the late morning hours. Shares of ONGC, Dr. Reddy’s and IndusInd Bank rose, whereas shares of ICICI Bank, Tata Motors and Yes Bank fell. 

Metal stocks keep on gaining on the back of growing global commodity prices. The Nifty Metal Index rose 0.5 percent in early trade, led by more than one percent gains in shares of Vedanta Ltd and Welspun Corp.

Tata Motors fell 1.1% to Rs.252 after the company announced its US JLR sales fell 9.4 percent to 11,394 units. Shares of Oil & Natural Gas rose 1.3 percent to Rs. 196.15 after international crude oil prices hit a 3-year high.

In Nifty-50 index, shares of Asian Paints and ONGC rose 1.5%, each, Dr. Reddy’s rose 1.2% and Coal India up 1% as the top gainers while Shares of Tata Motors fell 1.4%, HCL Tech slipped 1.06%, ICICI Bank down 0.86%, Yes Bank down 0.55% and Sun Pharma lose 0.41% as the top losers in today’s trade.