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Tuesday, 10 February 2015

Sensex firm, Nifty holds 8600; ICICI Bank, L&T, TCS lead

The market remained firm in morning trade as the Sensex rose 141.61 points to 28497.23 and the Nifty climbed 44.85 points to 8610.40. The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.7 percent and 0.9 percent, respectively.

More than two shares advanced for every share declining on the Bombay Stock Exchange.

Shares of ICICI Bank, L&T, HDFC, Axis Bank, SBI, Maruti, Dr Reddy's Labs, NTPC and Coal India gained 1-2 percent while Tata Motors, ONGC, M&M, Bharti Airtel, Sesa Sterlite, Cipla and BHEL were down over 1 percent.

TCS traded above its 200 DMA, up 1.5 percent as Natarajan Chandrasekaran, CEO & MD that the company is confident of beating the 12-14 percent NASSCOM guidance put out for FY16 and will be able to beat the 13.1 percent guidance for FY15 as well.

Sun Pharma remained in focus after Taro reported good numbers with net sales up 11.3 percent to USD 237.7 million, margins expanded 380 basis points to 67 percent while net income up 23 percent at USD 142.5 million in Q3.

NBCC gained 4 percent after it secured project management and consultancy business orders amounting to Rs 231.40 crore from Indian Institute of Technology, Roorkee.

Fortis Healthcare surged 20 percent after 1.8 percent equity changed hands in 5 blocks on NSE and BSE.

NALCO rallied 5 percent on good Q3 numbers with margins expanding to 27.6 percent versus 12.4 percent and profit up 171 percent at Rs 354.5 crore. CIMB uppped target price to Rs 78 from Rs 72 earlier. More information please visit this site

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