Market Live: Sensex off the day's high points, Nifty hovers around 10,750; midcaps underperform. The midcap index, meanwhile, is trading over a third of a percent lower. Bharti Airtel, ONGC, and Tech Mahindra continue to be the top gainers, while Power Grid, Dr Reddy’s Labs and HPCL are the top losers.
The midcap index, meanwhile, is trading over a third of a percent lower. Bharti Airtel, ONGC, and Tech Mahindra continue to be the top gainers, while Power Grid, Dr. Reddy’s Labs, and HPCL are the top losers.
Click here To know about the Best Stock Advisory India
Equity benchmarks are trading mildly off the day’s high points, but the Nifty continues t trade around 10,750-mark. Barring IT names, cuts are visible among all sectoral indices now.
The Sensex is up 72.04 points at 35391.39, while the Nifty is up 11.70 points at 10753.40. The market breadth is narrow as 979 shares advanced, against a decline of 959 shares, while 104 shares were unchanged.
The Sensex is up 72.04 points at 35391.39, while the Nifty is up 11.70 points at 10753.40. The market breadth is narrow as 979 shares advanced, against a decline of 959 shares, while 104 shares were unchanged.
The midcap index, meanwhile, is trading over a third of a percent lower. Bharti Airtel, ONGC, and Tech Mahindra continue to be the top gainers, while Power Grid, Dr. Reddy’s Labs, and HPCL are the top losers
Federal Bank slipped as much as 11.5 percent in the first 15-minutes of trade on Thursday, a day after it reported 43.5 percent year-on-year (YoY) drop in net profit at Rs 145 crore for the March quarter because of an increase in provisions and worsening asset quality.
Net profit in the same quarter last year had shot up 2,400 percent to Rs 256.6 crore due to substantially lower provisions and reduction in non-performing assets (NPAs).
Despite a fall in net profit, some of the brokerage firms remain positive on the stock and maintain their buy rating. However, some of them have reduced their target price post Q4 results.
D-Street has begun the trading session on a good note. The Sensex is up over 100 points, while the Nifty is firmly above 10,750-mark.
The Sensex is up 117.29 points at 35436.64, while the Nifty is up 33.30 points at 10775.00. The market breadth is positive as 497 shares advanced, against a decline of 362 shares, while 55 shares are unchanged.
ONGC, Axis Bank, Eicher Motors and Tech Mahindra are the top gainers, with a surge of up to 2 percent among them. On the losing side are IndusInd Bank, Dr. Reddy’s Labs, and Indian Oil.
In the broader markets, midcaps are continuing to trade lower but the strong gain is seen in Nifty IT, up around half a percent.
The Indian rupee opened lower by 7 paise at 67.33 per dollar on Thursday versus previous close 67.26.
Click here to get Free Commodity Tips
Federal Bank slipped as much as 11.5 percent in the first 15-minutes of trade on Thursday, a day after it reported 43.5 percent year-on-year (YoY) drop in net profit at Rs 145 crore for the March quarter because of an increase in provisions and worsening asset quality.
Net profit in the same quarter last year had shot up 2,400 percent to Rs 256.6 crore due to substantially lower provisions and reduction in non-performing assets (NPAs).
Despite a fall in net profit, some of the brokerage firms remain positive on the stock and maintain their buy rating. However, some of them have reduced their target price post Q4 results.
D-Street has begun the trading session on a good note. The Sensex is up over 100 points, while the Nifty is firmly above 10,750-mark.
The Sensex is up 117.29 points at 35436.64, while the Nifty is up 33.30 points at 10775.00. The market breadth is positive as 497 shares advanced, against a decline of 362 shares, while 55 shares are unchanged.
ONGC, Axis Bank, Eicher Motors and Tech Mahindra are the top gainers, with a surge of up to 2 percent among them. On the losing side are IndusInd Bank, Dr. Reddy’s Labs, and Indian Oil.
In the broader markets, midcaps are continuing to trade lower but the strong gain is seen in Nifty IT, up around half a percent.
The Indian rupee opened lower by 7 paise at 67.33 per dollar on Thursday versus previous close 67.26.
Click here to get Free Commodity Tips
According to Motilal Oswal, the rupee fell to the lowest level in 15-months following the surge in global crude oil prices and fund outflows from FIIs in equity and debt segment. This month, fund outflows from the FIIs have been to the tune of USD 1.4billion including equity and debt segment.
On the other hand, global crude oil prices rose to the highest level in three years after the US pulled out of an international nuclear deal with Iran.
Market participants will be keenly keeping an eye on crude oil prices as that would be important to determine the fresh trigger for the currency. For the day, the USD-INR pair is expected to quote in the range of 67.25 and 67.80, it added.
On the other hand, global crude oil prices rose to the highest level in three years after the US pulled out of an international nuclear deal with Iran.
Market participants will be keenly keeping an eye on crude oil prices as that would be important to determine the fresh trigger for the currency. For the day, the USD-INR pair is expected to quote in the range of 67.25 and 67.80, it added.
-----------------------------------------------------------------------------------------------------------------------------
For More Information regarding Stock market news updates & Commodity Tips, Intraday Calls, Share Market Tips contact us at +91-8305596871 or simply fill our Free Trial registration form linked in this blog.
No comments:
Post a Comment