Bulls at D-St: Sensex, Nifty surge; Future Retail up 15%

1:30 am Buzzing: Shares of BHEL rose 2.5 percent intraday. The company has successfully commissioned a 195 MW thermal unit in Bihar. It says that this is the first 195 MW unit to be commissioned by BHEL at the 2X195 MW Muzaffarpur Thermal Power Station (TPS) Plant of Kanti Bijlee Utpadan Nigam (KBUNL), a joint venture of NTPC and MSPGCL, Bihar. The second 195 MW is expected to be commissioned in FY2015-16. Earlier, in the first week of March 2015, a 660 MW supercritical thermal unit was commissioned by BHEL at Barh in Bihar.

Don't miss: ONGC, OIL rise 4-5% as govt to bear entire fuel subsidy

The market is still on its northwards journey as the Sensex is up 343.83 points or 1 percent at 27355.14. The Nifty is up 107 points or 1 percent at 8288.50. About 1790 shares have advanced, 711 shares declined, and 139 shares are unchanged.

ONGC, Bajaj Auto, M&M, Cipla and Hindalco are top gainers in the Sensex. Among the top losers are Tata Motors, L&T, Wipro and ICICI Bank.

Meanwhile, both Future Retail and Future Consumer Enterprise are up 15 percent each on hopes of a possible merger with Bharti Retail.

Meanwhile, Hartmut Issel, Head of Equity & Credit for Asia Pacific at UBS continues to feel India is on track and bases the premise of his optimism on oil prices. Issel, who is also CIO, the Wealth Management at UBS says low oil prices may have been good for the economy but also impacted corporate profits. A lot of earning downgrades is a result of that factor, Issel says.

He says oil prices have since moved up and expects that to firm up a bit more resulting in wiping out the main source of downgrades. Once that is taken care of, Issel sees the domestic story picking up again. For more information please visit this site www.bigprofitbuzz.com

Sensex, Nifty up 1%; banks lead, ONGC & Oil India rally

10:50am Market Update: The Sensex jumped 320.59 points or 1.19 percent to 27331.90, and the Nifty rallied 94.90 points or 1.16 percent to 8276.40.

About 1642 shares have advanced, 486 shares declined, and 113 shares are unchanged on the BSE. 

10:20am FII View: Chris Wood, CLSA said Greed & Fear is going to make some small adjustments in the Asia Pacific (ex-Japan) relative-return portfolio this week.

The weightings in India and Vietnam will be increased by 1 percentage point each, with the money being raised by shaving 1 percent point each from Hong Kong and Indonesia, he added.

10:00am Market Check

The market remained strong in morning trade, rising over a percent led by short covering in banking & financials, FMCG, healthcare, select auto and oil stocks.

The Sensex climbed 284.54 points to 27295.85 and the Nifty jumped 79.45 points to 8260.95. Nearly four shares advanced for every share declining on the Bombay Stock Exchange. The BSE Midcap and Smallcap indices gained 0.5 percent and 1.2 percent, respectively.

ONGC and Oil India gained 3.5-4 percent after finance ministry official said the government will bear entire fuel subsidy from now and upstream oil companies will not have to share fuel subsidies anymore. They see fuel subsidy for entire fiscal at Rs 40,000 crore. For more information please visit this site www.bigprofitbuzz.com

Nifty ends April series below 8200, Sensex skids 215 pts

03:30 pm Market check: After a volatile session, the market ended April F&O expiry below 8200-level. The 50-share index was down 58.25 points or 0.7 percent at 8181.50. The Sensex also slipped 214.62 points or 0.8 percent at 27011.31. About 1314 shares advanced, 1376 shares declined, and 193 shares were unchanged.

Axis Bank, BHEL, Reliance, Cipla and Vedanta were top gainers in the Sensex. Among the losers, M&M, Tata Motors, Coal India, Tata Steel and ITC.

03:10 pm New kid in the block:  Shares of Bosch jumped 6 percent intraday as it will be soon added on the National Stock Exchange's benchmark index Nifty. Infrastructure financing firm IDFC will move out of the Nifty and will be replaced by auto component major Bosch.

The changes will come into effect from May 29, according to the changes announced today by India Index Services & Products Ltd (IISL), an NSE group firm which manages Nifty and other indices.

A host of changes have also been made in various other NSE indices such as CNX Nifty Junior Index, CNX 100 Index, CNX 200 Index CNX 500 Index and CNX Service Sector Index by its Index Maintenance Sub-Committee during a periodic review. The stocks being excluded from Nifty Junior index are Adani Enterprises and Bosch while Britannia Industries and MRF would be included in the index.

02:40pm Interview: Biocon's March quarter revenues rose 15 percent versus estimate of 6 percent growth and profits surged 78 percent. The bottomline was boosted by an exceptional inflow of Rs 105 crore from sale of Syngene. Speaking to, Kiran Mazumdar Shaw, CMD, Biocon said the company delivered a robust earnings for Q4 and FY15.

The pharmaceutical company addressed all capacity constraints from last fiscal. It also got approvals from Mexican authorities for insulin drug. Biocon’s Malaysian facility has also commenced operations.

Shaw said the company deliberately took a hit on its topline in order to rationalize products. Biocon is focusing towards being a specialized products player.

Biocon strengthened its biopharma and contract research and manufacturing services (CRAMS) business and is seeing a lot of visibility in targets as the company advances in the biosimilar pipeline. The company has the largest potfolio of biosimilars globally, highlighted Shaw.

The company has increased its research and development (R&D) spends, which according to Shaw, is a positive signal for its growth. The R&D spend of the company is around 8-9 percent of its biopharma revenue and is sustainable. 

02:20pm Global markets: World stock markets and the dollar remained in a sharp sell-off mode today, having been jolted sharply lower by weak US growth data and cautious comments from the Federal Reserve.

Asian and European stocks continued a two-day decline for equity markets worldwide with Europe's FTSEurofirst 300 down 0.8 percent and heading for its worst week of the year.

The slide of more than 3.5 percent is being compounded by this week's jump in bond yields and a more than 2 percent surge in the euro to above USD 1.12, all of which are threatening to extinguish hopes for the region's recovery prospects.

Benchmark German Bund yields kept on climbing, having posted their biggest daily rise in two years on Wednesday on robust German inflation and a pick-up in ECB bank lending figures. Euro zone inflation data is due out at 0900 GMT.

02:00pm Market Check

The sell off continued on Dalal Street with the Sensex down more than 100 points in afternoon trade, though there was some recovery from day's low. The index lost 119.07 points to 27106.86 and the Nifty declined 31.60 points to 8208.15.

About 1213 shares have advanced, 1346 shares declined, and 164 shares are unchanged on the BSE.

S Naren of ICICI Pru said this correction is healthy for the market. There is a compelling case to invest into markets now. However, the capex cycle is not expected to pick up for next 6 months.

It has been a weak day for most global equities. Nikkei ended with a whopping 540-point loss while markets in Europe also fell significantly. Brent crude prices continued to inch higher, now at 6-month highs of USD 66 a barrel.

Shares of ITC, HDFC, Tata Motors, HUL, Bharti Airtel, M&M, Dr Reddy's Labs, Coal India, Tata Steel and Hero Motocorp lost 1-2 percent while Axis Bank remained firm, up 3 percent post Q4 earnings. Reliance Industries, Cipla and Vedanta gained 1-1.5 percent followed by ICICI Bank and ONGC with 0.5 percent gains.

It was a stellar debut for VRL Logistics, listing at a 40 percent premium to its issue price of Rs 205 per share despite a weak market sentiment. The management expects margins to be at historic levels of 18 percent going ahead. For more information please visit this site www.bigprofitbuzz.com

Sensex up over 250 pts, Nifty above 8300; Banks outperform

3:15 pm Bullish World Bank: In a major boost to the market, World Bank estimates India’s GDP growth at 7.5 percent in FY16 and 7.9 percent in FY17. It says that India needs to further rationalise subsidies. World Bank thinks tax-to-GDP ratio may rise after India implements GST but land acquisition remains hurdle in the country's efforts to boost infrastructure. 3:00 pm Market check: The market does a somersault and surges ahead. The Sensex is up 285.89 points or 1 percent at 27462.88, and the Nifty is up 89.60 points or 1 percent at 8303.40. About 1565 shares have advanced, 1069 shares declined, and 148 shares are unchanged. Bank Nifty soars 3 percent on short covering. Pull back seen in select mid cap stocks after recent sell off. 2:30 pm Economy outlook: Rural India has been a growth driver for auto industry, but sales are under pressure currently, said Saurabh Mukherjea of Ambit Capital. He sees an increase in corporate bad debts for private banks. Mukherjea expects sluggish economic growth for next 6-7 months, and advises investors to buy companies with strong balance sheets. He recommends avoiding stocks dependent on rural consumption and investment cycle. Ambit has cut GDP growth forecast for FY16 from 7.9 percent YoY to 7.5 percent YoY. It sees FY16 GDP to be at same levels as in FY15. Expecting next 6-7 months to be a weak economic phase for the country, the brokerage firm advises investment into companies having strong balance sheets, while recommending investors to cut exposure to rural consumption-dependent companies and to stocks that are plays on the investment cycle. Don't miss: 5 brokerages tell you how to trade Maruti post Q4 The market is still struggling with the Sensex is down 18.16 points at 27158.83. The Nifty is up 1.20 points at 8215.00. About 1357 shares have advanced, 1185 shares declined, and 145 shares are unchanged. ICICI Bank is still up 6 percent while Maruti, Axis Bank, Tata Motors and BHEL are top gainers in the Sensex. ITC, GAIL, L&T, HUL and Infosys are major losers. Sugar stocks like Bajaj Hindusthan, Mawana Sugars, Sakthi Sugars are rallying as the government may announce package for sugar sector in a day or two. According to CNBC-TV18 sources in the food ministry, the package will address issues related to buffer stock. It may even include decision to hike import duty, increase ethanol blending limit and sugar release mechanism. Meanwhile, drug major Mylan has rejected a USD 40 billion unsolicited merger offer from Israel's Teva Pharmaceutical Industries saying the bid "grossly undervalues" the company considering its best-in-class assets, including a strong foothold in India. For more information please visit this site www.bigprofitbuzz.com

Nifty holds 8200 amid pressure; ITC, GAIL, ONGC laggards

The market is still under pressure. The Sensex is down 56.25 points at 27120.74 and the Nifty is down 12.50 points at 8201.30. About 1264 shares have advanced, 1192 shares declined, and 157 shares are unchanged.

ICICI Bank and Maruti are up 3-4 percent while BHEL, Hero Motocorp and Tata Motors are top gainers in the Sensex. Among the losers are ITC, GAIL, ONGC, L&T and Bharti Airtel.

Japan's Nikkei share average rose helped by hopes of better shareholder returns after Fanuc Corp doubled its dividend payout ratio, but gains were limited ahead of a two-day US Federal Reserve's policy meeting. The Nikkei 225 ended 0.4 percent higher to 20,058.95. Oil fell more than 1 percent ahead of weekly US crude inventory data that is expected to hit another high and as Saudi Arabia pledged to supply more oil to China if needed.

US commercial crude stockpiles were expected to have risen last week for the 16th straight week, up from a record 489 million barrels, even though drilling activity fell, a preliminary survey by Reuters showed on Monday.

Comments from top Saudi oil officials on Monday reiterated the country's position of keeping production high to meet demand as it maintains its market share. For more information please visit this site www.bigprofitbuzz.com

Sensex, Nifty erase morning gains; Idea, Bharti in focus

The market gave up morning gains but the Nifty managed to hold the 8200-mark. Technology, FMCG, pharma, oil and HDFC twins dropped while auto and select banks gained.

The Sensex fell 7.53 points to 27169.46 and the Nifty gained 0.10 points at 8213.90. About 1231 shares have advanced, 1033 shares declined, and 149 shares are unchanged on the BSE.

Globally, Asian markets remained mixed as investors are cautious ahead of a two-day policy meeting by the US Federal Reserve that begins later today. Brent crude prices fell to near USD 64 per barrel.

In earnings today, telecom majors Bharti Airtel and Idea Cellular traded flat ahead of their Q4 earnings. For Bharti Airtel, analysts expect a steady quarter for India wireless while Africa business may continue to see a lackluster quarter. poll indicated that consolidated profits may rise 9 percent sequentially. Idea Cellular's revenue growth is seen at 4.5-5 percent due to volume growth.

ICICI Bank climbed more than 5 percent, retaining its top position in the buying list on Sensex as the management guidance provided some relief. They said fresh impairments and slippages from the restructured loans will be lower as compared to FY15.

IOC, HPCL and BPCL gained anywhere between 2-4 percent. In a major boost for the oil marketing companies, the finance ministry agreed to fully compensate the Rs 8,600 crore of under-recoveries incurred in the fourth quarter of FY15. Goldman Sachs believes that OMCs are set for a strong earnings given full compensation of losses. For more information please visit this site www.bigprofitbuzz.com

Sensex dives over 200 pts, Nifty falls; metals outperform

1:30 pm Telecom: India's telecom regulator has ruled on the definition of adjusted gross revenue (AGR) for telecom companies. The TDSAT has said that AGR will include all receipts except capital receipts and revenue from non-core sources such as rent, profit on sale of fixed assets, dividend , interest and miscellaneous income, etc will be included in AGR. The regulator has also included forex adjustment under AGR apart from ruling that licenses fee will not be charged twice on the same income.

Don't miss: YES Bank rallies 4%: How to trade it now?

Profit booking drags the Nifty below 8400. The 50-share index is down 55.65 points or 0.7 percent at 8374.05. The Sensex is down 234.78 points or 0.8 percent at 27655.35. About 1279 shares have advanced, 1302 shares declined, and 147 shares are unchanged.

Only metal stocks led by Tata Steel are seeing huge buying interest. Coal India, Maruti and BHEL are top gainers in the Sensex. Among the losers are Sun Pharma, NTPC, SBI and M&M.

Meanwhile, manufacturing activity in Asia's top two economic powerhouses slowed further in April, a disappointing outcome that calls for yet more stimulus and puts pressure on the United States and Europe to do more of the heavy lifting to drive global growth.

The flash HSBC/Markit Purchasing Managers' Index (PMI) for China fell to a one-year low of 49.2, from 49.6, pushing deeper below the 50-point level that is supposed to separate growth from contraction. For More information please visit this site www.bigprofitbuzz.com

Monsoon forecast pinches, Nifty below 8300, Sensex drags

1:50 pm Market check: The market has skid sharply after the MET department released its first monsoon forecast for the year 2015. According to Earth Sciences Minister, there is a 28 percent probability of rainfall being normal in 2015.

The Sensex is down 237.74 points or 0.8 percent at 27438.30 and the Nifty is down 82.40 points or 0.9 percent at 8295.35.  About 1042 shares have advanced, 1544 shares declined, and 168 shares are unchanged.

Wipro, ONGC,Tata Motors, SBI and ICICI Bank are major losers in the Sensex.

1:30 pm Big deal: Drug major Sun Pharmaceutical said its promoter and Managing Director Dilip Shanghvi did not buy shares of the company sold by the Japanese drugmaker Daiichi Sankyo.

“Dilip Shanghvi has neither purchased nor agreed to purchase any shares of our company in the said transaction,” Sun Pharma said in a BSE filing today.

The company was clarifying on speculations that Sanghvi, who holds 9.61 percent stake in Sun Pharma, had bought shares when Daiichi Sankyo exited from the Indian firm.

According to the data available on BSE, as on April 10, promoter shareholding in Sun Pharma stood at 54.71 percent .

Don't miss: Analysts cut target price of Wipro; stock falls 4% post Q4

The market is marginally in the green . The Sensex is up 28.77 points at 27704.81 and the Nifty down 1.30 points at 8376.45. About 1317 shares have advanced, 1161 shares declined and 161 shares are unchanged.

HUL, Hero Motocorp, M&M, HDFC and Dr Reddy's Labs are top gainers in the Sensex. Among the losers are Wipro, ONGC, SBI, Infosys and Tata Motors.

Amid a weakening global trend, gold futures traded Rs 96 down at Rs 27,007 per 10 gm as speculators reduced their positions. Gold for delivery in far-month August contracts dropped by Rs 96 or 0.35 per cent to Rs 27,007 per 10 gm in a business turnover of one lot at the Multi Commodity Exchange.

Market analysts said the fall in gold futures was mostly in tune with a weak trend overseas and profit-booking by speculators. For More information please visit this site www.bigprofitbuzz.com

Sensex sees marginal gains: HUL rebounds, IT stocks decline

10:25am FII View: A positive macro-and-policy-fuelled India was the most preferred emerging market across all financial centres in Europe at the end of 2014, says Deutsche Bank in a research report. But now global as well as emerging markets investors are looking at a tactical reallocation of aggressively overweight positions towards other EM's like China, Russia and Brazil, the report says. Deutsche Bank met as many as 34 investors last week across key financial centers in Europe. The brokerage house further says: "Many global investors we met – who were first time investors into India, through the rally last year, are currently focused on European equity markets, following improving economic data and QE in Europe." Focusing on India, the report says, the ongoing tactical correction is a healthy consolidation and investors waiting on the sidelines should use this as an opportunity to realign their portfolios. Deutsche Bank maintains its year-end Sensex target of 33,000. 10:00am Market Check The market continued to see marginal gains in morning trade led by banking & financials, FMCG and select oil stocks. The Sensex rose 71.09 points to 27747.13 and the Nifty climbed 12.20 points to 8389.95. The BSE Midcap and Smallcap indices gained 0.3 percent and 0.6 percent, respectively. More than two shares advanced for every share declining on the Bombay Stock Exchange. Sun Pharma rebounded with 2 percent gains after a 9 percent fall in previous session. JP Morgan has maintained overweight rating on the stock with a target price of Rs 1030. "Large correction was driven by supply from Daiichi’s stake sale (down 19 percent over last 2 weeks including correction yesterday)," said the brokerage, adding he will use the weakness as a buying opportunity. He believes the base Sun Pharma business (ex-Ranbaxy) can grow at more than 15 percent over medium term and sees significant upside from integration / turnaround of Ranbaxy acquisition, manufacturing related synergies. HUL also rallied 2 percent followed by ICICI Bank, ITC, Reliance Industries, Axis Bank, M&M, HDFC Bank, HDFC, Dr Reddy's Labs and Hero Motocorp with 0.3-1.3 percent. However, Wipro tanked 4 percent post disappointing earnings and weak guidance. TCS and Infosys too were under pressure, down 0.4-0.9 percent. For more information please visit this site www.bigprofitbuzz.com

Sensex slips 210pts, Nifty below 8400; SBI up, HUL falls 4%

03:30pm Market close: The market ended in red as the Sensex is down 210.17 points or 0.7 percent at 27676.04. The Nifty is down 70.35 points or 0.8 percent at 8377.75. About 1324 shares have advanced, 1377 shares declined, and 188 shares are unchanged. Wipro, Axis Bank, Sesa Sterlite, SBI and Tata Steel are top gainers in the Sensex. Among the losers are Sun Pharma, HUL, Hindalco, Maruti and Dr Reddy's Labs. 03:10pm International markets: World stocks climbed back towards all-time highs as upbeat European earnings reports and expectations of a sixth straight rise in German business confidence helped offset worries about a possible Greek default. Even after several rounds of negotiations, hopes are slim that Athens will be able to convince euro zone finance ministers to continue their financial support at the latest in a series of meetings on Friday. The country could run out of cash by the end of the month. On Monday, the government ordered state entities to park spare cash at the central bank in a bid to pay civil service salaries and IMF loan repayments due in early May. 03:00pm Market Update: The market slipped again. The Sensex lost 178.02 points to 27708.19 and the Nifty dipped 65 points to 8383.10. About 1290 shares have advanced, 1321 shares declined, and 186 shares are unchanged on the BSE. 02:45pm Symphony on buyers' radar: Air cooler manufacturer Symphony's third quarter net profit shot up 35.1 percent year-on-year to Rs 36.5 crore, driven by strong sales numbers and realisation. Total income from operations grew by 26.6 percent to Rs 146.3 crore during January-March quarter from Rs 115.5 crore in same quarter last year, led by spike in air cooler sales. Symphony sold 2,12,640 units of air cooler in third quarter of financial year 2014-15, a growth of 13.3 percent compared to 1,87,718 sold in the year-ago quarter. Average realisation per unit was Rs 6,328 during the quarter as against Rs 5,986 in corresponding quarter of last fiscal. The company follows July-June as its financial year. For last nine months, the company recorded sales of 6,15,295 units, a growth of 24.5 percent compared to 4,94,028 units sold in same period last year. 02:25pm Realty companies in focus: Shares of Mumbai-based realty companies are rallying on Dalal Street with the index up 1 percent intraday today. Maharashtra Government has scrapped the controversial Mumbai Development Plan 2015-2034 and directed BMC to submit reworked Mumbai Development Plan in four months. The reworked Mumbai Development Plan will be put up for public review. The draft development plan 2015-2034 of the BMC had several omissions and flaws. In development plan, for instance, it had not marked more then 40 percent of heritage structures. The development plan had shown roads through existing buildings and some places of worship. 02:00pm Market Check Equity benchmarks fell marginally amid volatility in afternoon trade but the broader markets outperformed. The Sensex slipped 38.83 points to 27847.38 and the Nifty declined 15.85 points to 8432.25 while the BSE Midcap and Smallcap indices gained 0.1-0.3 percent. The market breadth was also positive as about 1407 shares have advanced against 1115 shares declined on the BSE. Mahantesh Sabarad, DY VP-Research, SBICap Securities said monsoon would be the key trigger for the market going forward. The Nifty would probably head towards to 8300 mark, which would then become a buying zone. However, one-two years down the line it would eventually move to 9400-9800 range, he added. Sun Pharma kept its top position in the selling list on Sensex, down 8 percent. The stock saw multiple block deals on BSE and NSE at Rs 930 to Rs 968 per share as Daiichi Sankyo sold its entire 8.9 percent stake in the company. HCL Technologies trimmed losses, down 3.5 percent. IT major reported a miss on all counts in Q3. Dollar revenue came in lower than estimates and the rupee revenue declined by 0.17 percent Q-o-Q. The management that margins were compressed due to increase in investments and their deal pipeline currently looking better than it was a year ago. Shares of HUL, Tata Motors, Maruti, Hindalco, NTPC, GAIL and Tata Power declined 1-3 percent while Axis Bank, ONGC and Tata Steel were biggest gainers, up 1.4-2 percent. In the broader space, Lanco Infratech surged 11 percent as the company has successfully completed sale of 1200 MW udupi power plant to Adani Power. Tata Sponge crashed 8 percent as the company reported a decline of 25 percent in total income to Rs 160.3 crore with profits declining 79 percent to Rs 8.57 crore year-on-year. Ramco Systems fell 4 percent as the company saw profits declining 46 percent sequentially to Rs 43.5 crore and margin came in lower at 19 percent versus 23 percent. For More information please visit this site www.bigprofitbuzz.com