Sensex, Nifty end in green; Auto, Banking, IT stocks top gainer
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The Dalal Street may open in green as its global cues trades on a higher note after pro-European centrist Emmanuel Macron won the French presidential election.
On Friday, Sensex closed lower by 268 points or 0.89% at 29,858.80, while Nifty 50 finished at 9,285.30 down 75 points or 0.80%.
In the broader market, the S&P BSE Midcap and S&P BSE Smallcap indices settled 1% and 0.8% lower, respectively. The breadth, indicating the overall health of the market, was significantly weak. On the BSE, 2,005 shares declined and 835 shares rose. A total of 140 shares were unchanged. NSE cash turnover was at Rs. 28, 902 crore.
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The Dalal Street ended on a positive note on Monday with Nifty 50 maintaining its above 9,300-mark.
Sensex closed at 29,926.15 above 67 points or 0.23%, while Nifty finished at 9,314.05 up 28 points or 0.31%.
Top gainers on BSE involved Lupin at Rs 12778.65 per piece up 2.25%, followed by Asian Paints at Rs 1172 per piece (2.24%), Bharti Airtel at Rs 352.05 per piece (2.15%), ICICI Bank at Rs 302.80 per piece (1.42%) and Wipro at Rs 504.90 per piece (1.29%).
Among losers involved ITC at Rs 273.15 per piece down 1.41%, followed by HDFC at Rs 1525 per piece (1.39%), Larsen & Toubro at Rs 1705 per piece (1.15%), Bajaj Auto at Rs 2863 per piece (0.94%) and Adani Ports at Rs 342.20 per piece (0.78%).
Indian Rupee ended lower against US dollar. The rupee closed at 64.283 down 0.033 paisa or 0.05%.
Welspun Corp jumped over 7% after reporting over five-folds jump in its consolidated net profit on year-on-year basis for the fourth quarter ended March 31, 2017.
At 1443 hours, Welspun Corp shares rose by Rs 5 or 6.99% on BSE, trading at Rs 87.20 per piece.
The company's consolidated net profit stood at Rs 68.59 crore in Q4, a whopping rise of 425% compared to Rs 13.06 crore in the corresponding period of the previous year.
Q4FY17 net profit was also good compared to net loss of Rs 13.05 crore in the preceding quarter.
Consolidated total income stood at Rs 2,172.49 crore, rising by 9.94% year-on-year (YoY) and 76.50% quarter-on-quarter (QoQ).
Real estate and Infra companies showing strong move in the market.
Auto shares rose over 1% after when the Supreme Court on Monday declared that tractor and farm equipment makers will be exempted from BS-IV order.
S&P BSE Auto was trading at 22,734.85 higher by 224 points or 1%.
Top gainers were Motherson Sumi at Rs 405.60 up 2.63%, followed by Eicher Motors at Rs 26,500 above 2.57%, Tata Motors at Rs 428.10 per piece (1.99%) and Cummins India at Rs 1,048.35 per piece (1.65%).
Other gainers were - Ashok Leyland (Rs 83.55 per piece), Bosch (Rs 23,470 per piece), Mahindra & Mahindra (Rs 1330.20 per piece), Hero Motorcorp (Rs 3384.70 per piece), Maruti Suzuki (Rs 6682.95 per piece) and Bharat Forge (Rs 1103.95 per piece) trading positive in the range of 0.40% - 0.90%.
Among losers involved Exide Industries at Rs 238.70 per piece down 1.06%, followed by Bajaj Auto at Rs 2879.15 per piece (0.39%) and MRF at Rs 67,969 per piece (0.17%).
Steel Strips Wheels was trading lower on Monday despite bagging an another order from EU Caravan markets.
At 1254 hours, Steel Strips was trading at Rs 875 per piece on BSE, down by Rs 15 or 1.66%.
The order covers supplies of approx 12,000 nos of 14 Caravan wheels, in a period of 3 months.
"This repeat order strengthens SSWL's position as a strong player in extremely competitive caravan wheels market in the European region, " said the company in a statement.
OPEC may continue to cut down in production.
Share price of Natco Pharma surged over 2% after when the company on Monday launched a generic version of sofosbuvir.
At 1153 hours, Natco Pharma's shares gained by by Rs 20 or 2.22% on NSE, trading at Rs 922 per piece.
In a BSE filing the company said, "Natco has signed a nonexclusive licensing agreement with Gilead Sciences, Inc., to manufacture and sell generic versions of its chronic hepatitis C medicines in 101 developing countries."
Also, the company has priced its generic medicine of VELPANAT at an MRP of Rs 18,500/- for a bottle of 28 tablets in India.
Share price of Ambuja Cement and ACC Limited was among the best performer on Nifty index on plans to explore merger.
Ambuja Cement stocks surged over Rs 21 or 8.90% on NSE, trading at Rs 268.50 per share.
While ACC shares soared over Rs 80 or 4.87% trading at Rs 1,741.05 per piece.
Both ACC and Ambuja had their board meetings held on May 05, 2017, under which it was concluded with a decision for exploring the possibility of a merger.
Brokerage houses reports on the Eicher Motors.
Top gainers on BSE involved ICICI Bank trading at Rs 305.40 per piece up 2.29%, followed by ONGC at Rs 185.65 per piece (1.23%), Lupin at Rs 1265.75 per piece (1.22%), Hero Motocorp at Rs 3396 per piece (0.99%) and Bharti Airtel at Rs 348 per piece (0.97%).
Losers on BSE had Adani Ports trading at Rs 340.75 per piece down 1.20%, Power Grid at Rs 207.30 per piece (0.77%), ITC at Rs 274.95 per piece (0.76%), Tata Steel at Rs 429.85 per piece (0.73%) and HDFC at Rs 1541.45 per piece (0.35%).
Indian Rupee appreciated against US Dollar. The rupee was trading at 64.205 down 0.0110 paisa or 0.17% against dollar.
The Dalal Street made an positive opening on Monday's trading session as its global cues trade on a higher note after pro-European centrist Emmanuel Macron achieved victory against rival Marine Le Pen in the French presidential election.
At 9.22 am, Sensex was trading at 29,925.68 above 66 points or 0.22%, while Nifty 50 was trading up by 18 points or 0.20% at 9,303.45.
Key events on Monday:
State-owned Housing and Urban Development Corporation Limited (HUDCO) prepares to make its debut on Indian stock exchange through initial public offering (IPO) on Monday.
Companies like ABB Limited, Canara Bank, Bharti Infratel, Union Bank and Welspun Corp will be announcing their fourth quarter ended March 31, 2017 results.
In pre-open market, Sensex was trading at 29,915.12 higher by 56 points or 0.19%.
Asian markets were trading higher as Japan and Hong Kong shares show gains.
Japan's Nikkei 225 was trading at 19,799.39 above 353 points or 1.82%, while Hong Kong's Hang Seng was trading at 24,563.77 up 87 points or 0.36%.
However, China's Shanghai SE Composite Index was trading slightly lower by 14 points or 0.44% at 3,089.50.
Austailia and Taiwan shares also saw gain of 0.52% and 0.14% respectively.
Stocks in focus will be:
Tata Motors: The company's luxury car Jaguar Land Rover (JLR) on Friday reported 2.3% decline in its total sales for the month of April 2017.
In April, JLR recorded retail sales of 40,385 units, which was down 2.3% compared to similar month a year ago.
Avenue Supermarts: The operator of D-Mart, reported has a 47.45% jump in standalone net profit at Rs 96.66 crore for the fourth quarter (Q4) ended on March 31, 2017, compared net profit of Rs 65.55 crore in the corresponding quarter a year ago.
Wipro: The company in a IANS report said that they have stepped up security at all its offices following an e-mail threat to send a toxic drug to its campus in Bengaluru, the company said on Saturday.
"We have augmented security measures at all office locations, though there is no impact on our operations," said the city-based IT firm in a statement.
BSE Limited: The stock exchange BSE reported nearly four-fold jump in consolidated net profit to Rs 72.66 crore during Q4, as against net profit of Rs 20.24 crore in the January-March quarter of the previous fiscal, 2015-16.
Gillette India: In its Q4FY17, the company saw 54% rise in its profit after tax (PAT) to Rs 106 crore for the third quarter (Q3) ended March 31, 2017, as compared to Rs 81 crore in the corresponding quarter last year.
Pfizer: The drug maker on Saturday registered a 21.98% dip in its standalone net profit at Rs 68.04 crore versus net profit of Rs87.21 crore for the corresponding period of the previous fiscal.
The Dalal Street may open in green as its global cues trades on a higher note after pro-European centrist Emmanuel Macron won the French presidential election.
On Friday, Sensex closed lower by 268 points or 0.89% at 29,858.80, while Nifty 50 finished at 9,285.30 down 75 points or 0.80%.
In the broader market, the S&P BSE Midcap and S&P BSE Smallcap indices settled 1% and 0.8% lower, respectively. The breadth, indicating the overall health of the market, was significantly weak. On the BSE, 2,005 shares declined and 835 shares rose. A total of 140 shares were unchanged. NSE cash turnover was at Rs. 28, 902 crore.
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