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 skids over 261 pts, Nifty ends at 8214; Maruti up 3%

3:30 pm Market close: Dragged sharply by oil & gas, pharma, FMCG and banking stocks the market ended with severe losses. The Sensex closed down 260.95 points or 0.9 percent at 27176.99 and the Nifty ended at 8213.80, down 91.45 points or 1 percent at 8213.80. About 667 shares have advanced, 2063 shares declined, and 144 shares are unchanged.  SBI, Bharti Airtel, Dr Reddy's Labs, BHEL and HDFC fell around 3 percent each. Maruti gained over 3 percent after posting firm March quarter results while Vedanta, Wipro, Bajaj Auto and Tata Motors were top gainers in the Sensex. BSE Midcap index slipped over 2 percent from previous close. 3:00 pm Market check: The Sensex is down 256.48 points or 0.9 percent at 27181.46 and the Nifty is down 86.25 points or 1 pecent at 8219. About 622 shares have advanced, 2039 shares declined, and 143 shares are unchanged. Maruti and Vedanta are up around 3 percent while Wipro, Coal India and Tata Motors are other top gainers in the Sensex. BHEL, SBI, Dr Reddy's Labs & HDFC lose 3 percent. ICICI Bank falls 2 percent. 2:30 pm ICICI Bank: ICICI Bank matched street expectations on Monday with the profit rising 10.2 percent year-on-year to Rs 2,922 crore in the quarter ended March 2015. Strong net interest income, other income and operating profit boosted the profit but asset quality worsens during the quarter. Asset quality has worsened with the gross non-performing assets (NPA) rising 75 basis points year-on-year (up 38 bps sequentially) to 3.78 percent and net NPA climbing 64 bps Y-o-Y (up 34 bps Q-o-Q) to 1.61 percent in the quarter gone by. Don't miss: Maruti Suzuki Q4 profit jumps 60.5% to Rs 1284 cr; dividend at Rs 25/sh Bears continued to keep tight control on Dalal Street as the Sensex fell 156.82 points to 27281.12 and the Nifty declined 60.95 points to 8244.30. Pharma, capital goods, FMCG and select banking & financials led the fall today. The market breadth also remained weak as about 1959 shares have declined against 616 shares advanced on the Bombay Stock Exchange. The BSE Midcap and Smallcap indices dropped 1.5 percent and 2.3 percent, respectively. Maruti Suzuki gained 3.6 percent in afternoon trade after its Q4 earnings beat street expectations on every parameter. Profit climbed a whopping 60.5 percent year-on-year to Rs 1,284 crore, supported by higher volumes and favorable foreign exchange. "Higher volumes, material cost reduction initiatives, favorable foreign exchange and lower sales promotion expenses contributed to the bottomline during the quarter," said the car maker in its filing to the exchange. Axis Bank, Tata Motors, Wipro and Vedanta gained 1-2.5 percent whereas HDFC, SBI, Infosys, Dr Reddy's Labs, Sun Pharma, ONGC, HUL, Hero Motocorp and BHEL dropped 1-3 percent. For more information please visit this site www.bigprofitbuzz.com

Nifty slips below March low; Midcap, Smallcap plunge 1-2%

10:50am Market Update: Equity benchmarks extended losses with the Nifty trading at lowest level since January 9, 2015. The Sensex dropped 195.95 points to 27241.99 and the Nifty slipped 73.90 points to 8231.35.

The market breadth weakend further as about 1690 shares have declined against 433 shares advanced on the Bombay Stock Exchange.

10:35am Market Expert: The market is prone to trade between 7800-8200 due to lack of substantial triggers, tepid earnings and expectation of weak monsoons, says Harendra Kumar of Elara Capital.

According to him, there is nothing exciting in the market right now and therefore, there are not too many stocks to buy given the expensive valuations.

10:16am Market Update: The market extended losses, falling below its March low, dragged by banking & financials (except ICICI Bank), healthcare and capital goods stocks. The Sensex plunged 134.84 points to 27303.10 and the Nifty fell 54.65 points to 8250.60.

10:05am Petronet LNG dives: Discussing the results, RK Garg, Director Finance, Petronet LNG, said the company has been trying to mitigate issues raised after sudden drop in crude prices, which in turn affected customers’ buying capacity.

In an interview, Garg said the company’s long-term volumes have reduced significantly in Q4 and that 75 percent of capacity is under long-term contracts.

“Buyers not taking quantities due to fall in crude prices will pay penalty, which is paid yearly, not on quarterly basis,” he said.

According to Garg, improvement in margins will depend on offtakes. He hopes to see some (improvement) in the next two months.

10:00am Market Check

The market continued to consolidate ahead of expiry of April derivative contracts this week. The Sensex fell 47.74 points to 27390.20 and the Nifty declined 27.55 points to 8277.70.

The broader markets underperformed benchmarks with the BSE Midcap and Smallcap indices losing 1.4 percent and 2 percent, respectively. Nearly 3 shares declined for every share advancing on the Bombay Stock Exchange.

Rakesh Arora, Macquarie said Indian market has been hurt due to negative sentiment surrounding MAT on FII investments.

According to him, earnings season is also panning out weak as expected and the first Met report on the monsoon is also not encouraging. He feels stocks, post a 15-20 percent correction, would be cheap and worth buying on dips.

Shares of Infosys, Larsen & Toubro, SBI, Sun Pharma, Mahindra & Mahindra, Cipla, Hero Motocorp, Tata Steel and GAIL dropped 1-1.5 percent while ITC and NTPC gained more than 1 percent. 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

Nifty races towards 8500, Sensex firm; Jet soars 3%

The market continues to maintain its uptrend boosted majorly by bank and metal stocks. The Sensex is up 165.48 points or 0.6 percent at 28055.61 and the Nifty is up 64.45 points or 0.8 percent at 8494.15. About 1384 shares have advanced, 418 shares declined, and 100 shares are unchanged.

Tata Steel, Tata Power, Coal India and Maruti Suzuki are top gainers in the Sensex. Among the losers are M&M and Infosys.

Jet Airways rises 3 percent as it will seek shareholders' approval next month to raise up to USD 400 million (over Rs 2,500 crore) through issue of securities on private placement basis. The aviation company has also puts half of its wide-body fleet on sale to reduce debt and looking to sell 16 aircrafts, including long-haul ones due to slack demand.

Meanwhile, the rupee fell by 16 paise at 62.98 against the US dollar in early trade today at the Interbank Foreign Exchange due to appreciation of the Greenback overseas on strong American housing sales data. Besides, fresh demand for the dollar from importers weighed on the local currency but a higher opening in the domestic equity market, limited the rupee's losses, forex dealers said. 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

Sensex, Nifty flat; realty gains as Mum Dvpt plan scrapped

1:30 pm Gold special: Gold prices fell marginally by 0.15 percent to Rs 26,797 per ten grams in futures trade as speculators trimmed their positions, taking weak cues from the global markets.

However, token buying by retailers in the spot markets on the auspicious occasion of "Akshaya Tritiya" day limited the losses. At the spot markets, gold traded lower at Rs 27,200 per ten grams in opening trade at Chennai.

Analysts said the fall in yellow metal prices at futures trade was mostly in tandem with a weak trend overseas but token buying by retailers at spot markets on account of Akshaya Tritiya, considered to be most auspicious day for buying gold and silver, restricted the fall.

Don't miss: Sun Pharma plunges 11% as Daiichi Sankyo offloads stake

The market is still in the green as the Sensex is up 9.95 points at 27896.16 and the Nifty is up 6.95 points at 8455.05.  About 1370 shares have advanced, 1076 shares declined, and 165 shares are unchanged.

Realty stocks are higher with the index gaining over 1 percent after the controversial Mumbai Development Plan 2015-2034 is scrapped. The Maharashtra Government has directs 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 ommissions and flaws. In land use plan development plan, for instance, had not marked more then 40 percent of heritage structures. The development plan had shown roads through existing buildings and some places of worship.

Bharti Airtel, Axis Bank, ICICI Bank, Tata Steel and Coal India are top gainers in the Sensex. Among the losers are Sun Pharma, HUL, Maruti, Hindalco and Dr Reddy's Labs. For More information please visit this site www.bigprofitbuzz.com