Sensex Closes 190 Points Higher, Nifty Above 7,900; TCS Flat Ahead Of Q4 Results


MUMBAI: 3:30pm: The S&P BSE Sensex closes 0.74pct, or 189.61 points, higher at 25,816.36, while the Nifty 50 rises 0.82pct, or 64.25 points, to close at 7,914.70. Shares of Tata Consultancy Services Ltd (TCS) up 0.07pct at 2,524.90.

3:20pm: The S&P BSE Sensex is trading 0.76pct, or 195.59 points, higher at 25,822.34, while the Nifty 50 is up 0.86pct, or 67.35 points, at 7,917.80. Shares of Tata Consultancy Services Ltd (TCS) are down 0.08pct, at 2,521.05 apiece ahead of March quarter (Q4) results.

2:30pm: The Sensex is now trading higher by 150.61 points, or 0.59pct, to 25,777.36, while the Nifty rises 47.70 points, or 0.61pct, to 7,898.15.

2:25pm: Next Mediaworks Ltd rises 20pct to 20.50 after news report said that Rakesh Jhunjhunwala has invested 35 crore in Next Radio.

2:20pm: Kotak Mahindra Bank falls 2pct to 679. According to ET Now report, ING Group plans to exit its holding via share sale to institutional investors.

2:15pm: IDBI Bank Ltd rises 3.2pct to 72.20 after CNBC report said that L&T Finance Holdings Ltd like to reverse merger with IDBI Bank. L&T Finance falls 0.6pct to 72.65.

2:10pm: Oberoi Realty is up 12.3pct to 266.25 after news report said that the Swedish furniture retailing giant IKEA is in talks with Oberoi Realty to buy a built-to-suit retail space for over 900 crore in the Mumbai-based developer’s upcoming project in Borivali suburb of Mumbai.

2:00pm: Tata Communications Ltd rises 2pct to 412 after the company said in a notice to BSE that Irish TV selected Tata Communications as its global technology partner and OTT service provider.

1:50pm: Financial Technologies India Ltd jumped 15pct to91.45 after news report said that the Supreme Court set aside the Madras high court’s relief order with respect to asset freeze.

1:40pm: The sensex is now trading higher by 192.38 points, or 0.75pct, to 25,819.13, while the Nifty rises 57 points, or 0.73pct, to 7,907.45.

1:30pm: LIC Housing Finance Ltd rises 1.1pct to 486.15 ahead of its March quarter earnings. According to 12 Bloomberganalyst estimates, the company may report net profit of459.90 crore while net sales will be at 1,045.4 crore.

1:20pm: RPP Infra Projects Ltd rises 2.1pct to 145.30 after the company said it won order worth 11.20 crore from Container Corporation of India Ltd.

1:10pm: Avon Lifesciences Ltd falls 20pct to 23.05 after news report said that the Thane Police seized 18.5 tonnes of banned drug Ephedrine, valued at 2,000 crore, from the Solapur facility of a chemical-manufacturing firm. Four people, including the firm’s senior production manager, have been placed under arrest. The police claim the drug was being diverted for unauthorised sale in Thane city.

1:00pm: AC stocks are trading higher. According toEconomic Times report analyst expects that the AC sales up over 50pct last fortnight; early onset of summer likely to result in record sales for these product segments. Hitachi Home and Life Solutions Ltd rises 6.9pct, Voltas Ltd rises 3pct, Whirlpool of India Ltd rises 2pct, Lloyd Electric and Engineering Ltd rises 1pct.

12:50pm: Sugar stocks are trading higher. Shree Renuka Sugars Ltd rises 3.2pct, EID Parry India Ltd rises 2pct, Bajaj Hindusthan Sugar Ltd rises 4pct, Balrampur Chini Mills Ltd rises 3pct, Dhampur Sugar Mills Ltd 4.3pct, Triveni Engineering and Industries Ltd 2pct and Mawana Sugars Ltd 5pct.

12:40pm: Gulf Oil Lubricants India Ltd rises 5.5pct to 566.95 after Gulf Oil International Mauritius Inc has bought 851,172 equity shares representing 1.72pct stake in Gulf Oil Lubricants India at an average price of 531 per share, according to NSE Bulk deal data.

12:30pm: Aviation and oil marketing stocks are trading higher after talks between the Organisation of the Petroleum Exporting Countries (Opec) and non-Opec producers to freeze oil output remained inconclusive. Jet Airways India Ltd rises 2.6pct, InterGlobe Aviation Ltd rises 2pct, SpiceJet Ltd rises 2.3pct. Oil marketing companies like Bharat Petroleum Corp Ltd rises 2.5pct, Indian Oil Corp. up 2pct, Hindustan Petroleum Corp 1.3pct.

12:20pm: The sensex is now trading higher by 86.26 points, or 0.34pct, to 25,713.01, while the Nifty rises 22.20 points, or 0.28pct, to 7,872.65.

12:10pm: National Aluminum Co Ltd rises 5.5pct to 43.45 after the company said its board will meet on 22 April to consider buyback of shares.

12:00pm: Alembi Pharmaceuticals Ltd falls 2.5pct to 548.30 after news report said that the U.S.  drug regulator made four observations at its Taluka Plant.

11:50am: Banking stocks are trading lower. Punjab National Bank falls 3.1pct, Bank of Baroda 3pct, Union Bank of India 3pct, Oriental Bank of Commerce 2.6pct, State Bank of India falls 2.3pct, ICICI Bank 2.2pct, IDBI Bank 2.1pct, Syndicate Bank 2.1pct, Bank of India 2.1pct, Canara Bank 2.1pct, Allahabad Bank 2pct, Uco Bank 2pct, Central Bank of India 1.9pct, Corporation Bank 1.3pct.

11:40am: Shipping Corporation of India Ltd rises 2.7pct to73.45 after shipping and ports minister Nitin Gadkari said that the company will soon be announcing record profits ending consecutive year of losses.

11:30am: Cairn India and Oil and Natural Gas Corp. (ONGC) Ltd falls 3pct each after Crude oil prices tumbled some 5pct after a meeting by major producers in Qatar falls apart on Sunday, leaving the world awash with unwanted fuel. International benchmark Brent crude futures were trading at $40.86 per barrel, down 5.2pct since their last settlement,Reuters reported.

11:20am: Mindtree Ltd rises 7.6pct to 740.70 ahead of its March quarter earnings due later today. According to 10Bloomberg estimates, the company may post net profit of154 crore while net sales will be at 1,285.90 crore.

11:10am: Cyient Ltd rises 7.6pct to 487.95 ahead of its March quarter earnings on 21 April. According to 14 Bloombergestimates, the company may post net profit of 92.41 crore while net sales will be at 827.3 crore.

11:00am: Superajit Engineering Ltd rises 12pct to 152.50 after the company said in a notice to BSE that its board approved merger between Phoenix Lamps with itself. Phoenix Lamps Ltd rises 3pct to 113.

10:50am: The sensex is currently trading higher by 125.77 points, or 0.49pct, to 25,752.52, while the Nifty rises 34.90 points, or 0.44pct, to 7,885.35.

10:40am: Suzlon Energy Ltd rises 2.2pct to 14.90. The company on Thursday said it has successfully repaid, in cash, foreign currency convertible bonds (FCCBs) worth $28.8 million in principal amount, along with the applicable 8.7pct redemption premium. This was part of the 5pct April 2016 FCCB series, which have now been redeemed in full and will cease to exist.

10:30am: Tata Consultancy Services Ltd falls 2.1pct to2,470.75 after a federal grand jury in the state of Wisconsin, U.S. , ordered the company and its Tata America International Corp. unit to pay $940 million for using data from Epic Systems without permission, according to a PTI report on Saturday.

10:20am: Oberoi Realty Ltd rises 3.5pct to 246 after news report said that the Swedish furniture retailing giant IKEA is in talks with Oberoi RealtyBSE 3.01 pct to buy a built-to-suit retail space for over 900 crore in the Mumbai-based developer’s upcoming project in Borivali suburb of Mumbai.

10:10am: DCB Bank Ltd rises 7.4pct to 89.45 after the bank said its net profit increased 10pct to 70 crore from 63 crore mainly due to demand for loans from small and medium enterprises and individuals to buy homes and agriculture linked loans.

10:00am: Alkem Laboratories Ltd falls 5.6pct to 1,260.50 after the company has been accused by Germany’s health regulator of fudging data on clinical trials of an antibiotic and brain disorder drug, becoming the third Indian firm to be scrutinised since 2014 for suspected manipulation of trial data.

9:50am: ITC Ltd rises 2pct to 337. The country’s biggest cigarette maker ITC Ltd will soon resume production at its factories, two weeks after it decided to shut its plants over the government’s stringent new packaging rules, reportsReuters.

9:40am: The 30-share S&P BSE Sensex is currently trading higher by 84.68 points, or 0.33pct, to 25,711.43, while the Nifty 50 of the National Stock Exchange (NSE) rises 11.75 points, or 0.17pct, to 7,862.20.

9:35am: Infosys Ltd rises 7.1pct to 1,255 after it reported better then expected earnings. The company reported a better-than-expected 1.6pct rise in fourth quarter dollar revenue and expects dollar revenue to grow between 11.8pct and 13.8pct in the current financial year, even as India’s second-largest software services firm ends the financial year with industry-leading growth of 9.1pct.

9:30am: The Indian rupee is trading little changed against the U.S.  dollar at 66.68, down 0.04pct, from its previous close of 66.65 in the opening trade.

9:25am: India’s 10-year bond yield is trading at 7.432pct as compared with its Wednesday’s close of 7.435pct.

9:20am: In currencies, the dollar slips to ¥108 from ¥108.81 last Friday. The euro falls to $1.1277 from $1.1282.

9:15am: Oil prices hit a 12-year low in January, dipping under $30 a barrel, but had risen above $40 in recent days, buoyed by bullish talks surrounding the Doha meeting.

9:10am: The benchmark Nikkei 225 stock index drops 3pct to 16,344.09 in Japan. Hong Kong’s Hang Seng index loses 0.9pct to 21,112.12 and the Shanghai Composite Index in mainland China loses 1.5pct to 3,030.81. South Korea’s Kospi is down 0.5pct to 2,004.77, while Australia’s S&P/ASX 200 edges 0.1pct lower to 5,150.50. Most other Asian markets are also trading lower.

9:00am: Asian shares sink in early trading on Monday after an effort by major oil producing nations to agree on production cuts failed over the weekend.

8:50am: Major U.S.  stock benchmarks ended on Friday with small losses but were up for the week. The Dow Jones industrial average fell 0.2pct to 17,897.46, the Standard and Poor’s 500 index lost 0.1pct to 2,080.73 and the Nasdaq composite index dipped 0.2pct to 4,938.22.

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Source: PTI