01:20pm FII View
Manpreet
Gill, Senior Investment Strategist, Standard Chartered continues to remain
overweight on the Indian market. According to him, the drivers for market
remain primarily domestic.
India
remains one of his preferred markets with the Asia pacific region, he adds.
Gill
expects the US Federal Reserve to raise rates by mid-2015. He believes the US
companies have reported strong up-trending earnings path.
01:00pm Equity benchmarks gained strength
in afternoon trade supported by banking and financials, capital goods and index
heavyweights like ITC and Reliance Industries.
The Sensex
rose 111.89 points to 26111.23 and the Nifty climbed 36.85 points to 7785.05.
About 1123 shares have advanced, 1422 shares declined, and 94 shares are
unchanged.
Bank Nifty
jumped 300 points as ICICI Bank, HDFC Bank, State Bank of India and Axis Bank
gained 2-2.6 percent. Housing finance company HDFC too rallied 2 percent.
Capital goods majors Larsen and Toubro, and BHEL climbed 2-3 percent.
Utility
vehicle maker Mahindra and Mahindra topped the buying list, up 3.5 percent
followed by Bharti Airtel, ITC, Tata Steel, Cipla, NTPC and Hero Motocorp with
1-2 percent.
However, HCL Technologies and TCS remained
under selling pressure, falling 8-9 percent after reporting lower than expected
revenues in September quarter.
In the
midcap space, Crompton Greaves jumped over 2 percent after sources told
CNBC-TV18 that Avantha Group may sell partial equity stake in demerged Consumer
Products business. Bain among PE players is in talks to acquire that stake, say
sources.
On the
global front, European markets bounced back in opening trade after yesterday’s
sharp cut. More information please visit this site www.bigprofitbuzz.com
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