ET OnlineNEW DELHI: The S&P BSE Sensex pared gains after rallying over 450 points in trade on Friday. The rally in the index was led by gains in Infosys, ONGC, Axis Bank, and Bharti Airtel.
The broader 50-share Nifty barometer also came under selling pressure after rallying above its crucial psychological level of 8050, weighed down by losses in consumer durable and realty stocks.
The overall market sentiment was positive, with five out of every 10 BSE stocks quoting with a positive bias.
The S&P BSE Midcap Index was up 0.26 per cent and BSE S&P Smallcap Index edged higher by 0.25 per cent.
The S&P BSE IT Index was the top sectoral gainer, up 1.45 per cent. Infosys, MindTree contributed most to the gains. The S&P BSE Realty Index was the top sectoral loser, down 0.56 per cent. IB Real Estate contributed to the falls.
On the commodity front, crude oil futures rose on Friday in Asian trading, adding to their biggest one-day rally in over six years the day before led by recovering equity markets and news of diminished crude supplies.
Back home, shares of oil and gas producers such as Cairn India, ONGC, Oil India, GAIL India and Reliance Industries rose up to 7 per cent after global crude prices posted their biggest one-day gain in over six years, rising by more than 10 per cent overnight.
Major Asian markets were trading in the positive terrain. China's Shanghai Composite Index rose 4.82 per cent, or 148.76 points, to settle the day at 3232.35. Extending the gains, Japan's Nikkei surged over 561.88 points, or 3.03 per cent, to close at 19,136.32. Meanwhile, Hong Kong's Hang Seng was trading flat.
Overnight, Wall Street rose sharply, thanks to the revised US GDP data showing that the economy grew faster than initially thought in the second quarter - a reassuring sign amid worries over deepening economic woes in China.
Snapping its gains from the previous session, the rupee lost 12 paise to 66.16 against the American currency following fresh demand for the US currency from banks and importers on the back of higher dollar overseas.
"US GDP data suggests that economic conditions are getting better and on the right track. Taking cues from Indian equities opening positively, while profit booking at higher level may cap the gain." dealer said.
Markets @ 1:30
Sensex: 26,394, up 164 points; Nifty: 7,998, up 50 points
BUZZING STOCKS
Vedanta Ltd rose over 5 per cent in intraday trade.
Tata Steel Ltd gained nearly 4 per cent in intraday trade.
SBI Ltd added over 2 per cent in intraday trade.
ONGC Ltd spiked over 6 per cent in intraday trade. Read here
Gammon Infra Ltd surged nearly 14 per cent in intraday trade.
Sequent Scientific Ltd spurted nearly 8 per cent in intraday trade.
Tube Investments Ltd rose nearly 6 per cent in intraday trade.
Hindalco Ltd added over 4 per cent in intraday trade.
Cairn India Ltd shot nearly 8 per cent in intraday trade.
India Cements Ltd gained over 5 per cent in intraday trade.
Escorts Ltd spiked 5 per cent in intraday trade.
WHAT TOP EXPERTS SAY
Expect rally in US markets to dissipate in near term: David Lennox, Fat Prophets
Early rate hike will not be an overtly negative move: Hartmut Issel, UBS Wealth Management
Inox Wind, Garware Wall Ropes good bets at current juncture: Mayuresh Joshi
Do not believe 7,700 is the bottom for Nifty: Sandeep Wagle, Power My Wealth
Midcaps continue to be best bets; markets to remain sideways: Ashwani Gujral
Here is a list of twelve stocks which will to remain in focus today:
DLF Ltd: DLF, India's largest real estate developer, is close to selling a majority stake in a residential project in New Delhi to Singapore's sovereign wealth fund GIC, two people aware of the deal said.
HDFC Ltd: The government's announcement of 98 smart cities on Thursday has renewed investor confidence in India's largest housing finance major HDFC as the company has raised Rs 2,000 crore via bond sales, double of what it had planned initially, four people familiar with the matter told ET.
Lupin Ltd: Drug firm Lupin has received approval from US health regulator USFDA to market generic Omeprazole delayed-release capsules, used to treat ulcer, in the American market.
Tube Investments of India Ltd: The company informed BSE that the Company have signed a License Agreement with Ridley Bikes Belgium on August 27, 2015 to acquire the Brand rights/Licence for the brand "Ridley" for India, Sri Lanka, Bangladesh, Nepal, Bhutan and Myanmar for a period of 33 years.
Cipla Ltd: Leading generic drug maker Cipla on Thursday said that it expects 20 percent growth in revenues in the current fiscal (FY 16).
ONGC: State-owned Oil and Natural Gas Corp (ONGC) said it has received a one-year extension to explore in a Vietnam oil block in the contested waters of the South China Sea.
Bank of India: Bank of India has announced that the Government of India (GOI) vide its letter dated August 19, 2015 has informed its decision to infuse capital funds to the tune of Rs. 2455 Crore (Two Thousand Four Hundred and Fifty Five crore) in the Bank by way of preferential allotment of equity shares, said media reports.
TTK Prestige Ltd: TTK Prestige, a maker of kitchen appliances, said the company has signed a long-term settlement with the Workers' Union at company's Hosur unit at Tamil Nadu. This settlement provides for a superior productivity as compared to the earlier settlements, said media reports.
Vedanta Ltd: Vedanta today said that collapse in aluminium prices and lack of availability of bauxite from Odisha had forced the conglomerate to opt for a gradual closure of its Lanjigarh facility in the state.
Pincon Spirit Ltd: Kolkata-based Pincon Spirit said its board has approved issue of one equity share for each share held by existing shareholders of the company.
Bombay Dyeing & Manufacturing Company: The chairman Nusli Wadia on Thursday offloaded more than 19.26 lakh shares of the textile company for over Rs 12 crore through an open market transaction.
Gammon Infrastructure Projects Ltd: According to ET Now sources, Gammon Infrastructure sealed deal with Canada based Brookfield Asset Management. It will sell 9 SPV's in road & power to Brookfield Asset Management. The deal is likely to have been struck at around Rs 500 crores.
MARKETS THROUGH THE DAY
Markets @ 1:00
Sensex: 26,581, up 350 point; Nifty: 8,059, up 110 points
Markets @ 11:30
Sensex: 26,602, up 371 points; Nifty: 8,067, up 118 points
Top Gainers
VEDANTA LTD (5.6%), ONGC (5.3%), NTPC (4.1%), HINDALCO (3.8%), GAIL (3.5%)
Top Losers
LUPIN LTD (-0.6%), ITC LTD (-0.3%), SUN PHARMA (-0.0%)
Markets @ 10:35
Sensex: 26,642, up 411 points; Nifty: 8,077, up 129 points
Top Gainers
VEDANTA LTD (6.2%), ONGC (5.9%), HINDALCO (4.8%), NTPC (4.4%), AXIS BANK (3.5%)
Top Losers
M&M (-0.4%)
Markets @ 9:20
The 30-share index was trading at 26583, up 352 points or 1.34 per cent. It touched a high of 26,595.66 and a low of 26,529.75 in trade today.
The Nifty was at 8052 up 103 points or 1.3 per cent. It touched a high of 8061.95 and a low of 8043.20 in trade today.
The broader 50-share Nifty barometer also came under selling pressure after rallying above its crucial psychological level of 8050, weighed down by losses in consumer durable and realty stocks.
The overall market sentiment was positive, with five out of every 10 BSE stocks quoting with a positive bias.
The S&P BSE Midcap Index was up 0.26 per cent and BSE S&P Smallcap Index edged higher by 0.25 per cent.
The S&P BSE IT Index was the top sectoral gainer, up 1.45 per cent. Infosys, MindTree contributed most to the gains. The S&P BSE Realty Index was the top sectoral loser, down 0.56 per cent. IB Real Estate contributed to the falls.
On the commodity front, crude oil futures rose on Friday in Asian trading, adding to their biggest one-day rally in over six years the day before led by recovering equity markets and news of diminished crude supplies.
Back home, shares of oil and gas producers such as Cairn India, ONGC, Oil India, GAIL India and Reliance Industries rose up to 7 per cent after global crude prices posted their biggest one-day gain in over six years, rising by more than 10 per cent overnight.
Major Asian markets were trading in the positive terrain. China's Shanghai Composite Index rose 4.82 per cent, or 148.76 points, to settle the day at 3232.35. Extending the gains, Japan's Nikkei surged over 561.88 points, or 3.03 per cent, to close at 19,136.32. Meanwhile, Hong Kong's Hang Seng was trading flat.
Overnight, Wall Street rose sharply, thanks to the revised US GDP data showing that the economy grew faster than initially thought in the second quarter - a reassuring sign amid worries over deepening economic woes in China.
Snapping its gains from the previous session, the rupee lost 12 paise to 66.16 against the American currency following fresh demand for the US currency from banks and importers on the back of higher dollar overseas.
"US GDP data suggests that economic conditions are getting better and on the right track. Taking cues from Indian equities opening positively, while profit booking at higher level may cap the gain." dealer said.
Markets @ 1:30
Sensex: 26,394, up 164 points; Nifty: 7,998, up 50 points
BUZZING STOCKS
Vedanta Ltd rose over 5 per cent in intraday trade.
Tata Steel Ltd gained nearly 4 per cent in intraday trade.
SBI Ltd added over 2 per cent in intraday trade.
ONGC Ltd spiked over 6 per cent in intraday trade. Read here
Gammon Infra Ltd surged nearly 14 per cent in intraday trade.
Sequent Scientific Ltd spurted nearly 8 per cent in intraday trade.
Tube Investments Ltd rose nearly 6 per cent in intraday trade.
Hindalco Ltd added over 4 per cent in intraday trade.
Cairn India Ltd shot nearly 8 per cent in intraday trade.
India Cements Ltd gained over 5 per cent in intraday trade.
Escorts Ltd spiked 5 per cent in intraday trade.
WHAT TOP EXPERTS SAY
Expect rally in US markets to dissipate in near term: David Lennox, Fat Prophets
Early rate hike will not be an overtly negative move: Hartmut Issel, UBS Wealth Management
Inox Wind, Garware Wall Ropes good bets at current juncture: Mayuresh Joshi
Do not believe 7,700 is the bottom for Nifty: Sandeep Wagle, Power My Wealth
Midcaps continue to be best bets; markets to remain sideways: Ashwani Gujral
Here is a list of twelve stocks which will to remain in focus today:
DLF Ltd: DLF, India's largest real estate developer, is close to selling a majority stake in a residential project in New Delhi to Singapore's sovereign wealth fund GIC, two people aware of the deal said.
HDFC Ltd: The government's announcement of 98 smart cities on Thursday has renewed investor confidence in India's largest housing finance major HDFC as the company has raised Rs 2,000 crore via bond sales, double of what it had planned initially, four people familiar with the matter told ET.
Lupin Ltd: Drug firm Lupin has received approval from US health regulator USFDA to market generic Omeprazole delayed-release capsules, used to treat ulcer, in the American market.
Tube Investments of India Ltd: The company informed BSE that the Company have signed a License Agreement with Ridley Bikes Belgium on August 27, 2015 to acquire the Brand rights/Licence for the brand "Ridley" for India, Sri Lanka, Bangladesh, Nepal, Bhutan and Myanmar for a period of 33 years.
Cipla Ltd: Leading generic drug maker Cipla on Thursday said that it expects 20 percent growth in revenues in the current fiscal (FY 16).
ONGC: State-owned Oil and Natural Gas Corp (ONGC) said it has received a one-year extension to explore in a Vietnam oil block in the contested waters of the South China Sea.
Bank of India: Bank of India has announced that the Government of India (GOI) vide its letter dated August 19, 2015 has informed its decision to infuse capital funds to the tune of Rs. 2455 Crore (Two Thousand Four Hundred and Fifty Five crore) in the Bank by way of preferential allotment of equity shares, said media reports.
TTK Prestige Ltd: TTK Prestige, a maker of kitchen appliances, said the company has signed a long-term settlement with the Workers' Union at company's Hosur unit at Tamil Nadu. This settlement provides for a superior productivity as compared to the earlier settlements, said media reports.
Vedanta Ltd: Vedanta today said that collapse in aluminium prices and lack of availability of bauxite from Odisha had forced the conglomerate to opt for a gradual closure of its Lanjigarh facility in the state.
Pincon Spirit Ltd: Kolkata-based Pincon Spirit said its board has approved issue of one equity share for each share held by existing shareholders of the company.
Bombay Dyeing & Manufacturing Company: The chairman Nusli Wadia on Thursday offloaded more than 19.26 lakh shares of the textile company for over Rs 12 crore through an open market transaction.
Gammon Infrastructure Projects Ltd: According to ET Now sources, Gammon Infrastructure sealed deal with Canada based Brookfield Asset Management. It will sell 9 SPV's in road & power to Brookfield Asset Management. The deal is likely to have been struck at around Rs 500 crores.
MARKETS THROUGH THE DAY
Markets @ 1:00
Sensex: 26,581, up 350 point; Nifty: 8,059, up 110 points
Markets @ 11:30
Sensex: 26,602, up 371 points; Nifty: 8,067, up 118 points
Top Gainers
VEDANTA LTD (5.6%), ONGC (5.3%), NTPC (4.1%), HINDALCO (3.8%), GAIL (3.5%)
Top Losers
LUPIN LTD (-0.6%), ITC LTD (-0.3%), SUN PHARMA (-0.0%)
Markets @ 10:35
Sensex: 26,642, up 411 points; Nifty: 8,077, up 129 points
Top Gainers
VEDANTA LTD (6.2%), ONGC (5.9%), HINDALCO (4.8%), NTPC (4.4%), AXIS BANK (3.5%)
Top Losers
M&M (-0.4%)
Markets @ 9:20
The 30-share index was trading at 26583, up 352 points or 1.34 per cent. It touched a high of 26,595.66 and a low of 26,529.75 in trade today.
The Nifty was at 8052 up 103 points or 1.3 per cent. It touched a high of 8061.95 and a low of 8043.20 in trade today.
(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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