The Sensex and Nifty extended their record setting run on Tuesday by surging to fresh all-time closing highs. In today’s session, pharma stocks moved higher after falling for nine days in a row. Banking, realty and auto stocks also witnessed buying interest. Meanwhile, the gains in today’s session were capped as FMCG and capital goods shares came under selling pressure on account of profit-booking. The Sensex advanced 50 points to close at record high of 31,159 and Nifty rose 20 points to settle at 9,625.
In the intraday deals, the Sensex advanced as much as 111 points to all-time high of 31,220 and Nifty rose to intraday high of 9,635.
From the Nifty basket of shares, 37 ended higher while 14 closed lower. Aurobindo Pharma was the top Nifty gainers, up 13 per cent to close at Rs. 580. Adani Ports, Bank of Baroda, NTPC, Tech Mahindra, Dr Reddy’s Labs, ICICI Bank, Hero MotoCorp, Lupin and State Bank of India were also among the losers. On the other hand, Power Grid was the top Nifty loser, down 2.4 per cent to close at Rs. 204. BPCL, Bharti Infatel, ITC, HDFC, IndusInd Bank, TCS and Larsen & Toubro were also among the laggards.
The broader markets outperformed the benchmark indices. The BSE mid-cap index rose 0.83 per cent and the small-cap index advanced 0.46 per cent.
The overall market breadth was marginally negative as 1,453 shares ended lower while 1,228 closed higher on the BSE.
Here are the key highlights of today’s session:
3:11 pm: Hindalco’s net profit rises to Rs. 503 crore from Rs. 400 crore, a year ago. Shares rise 0.12 per cent at Rs. 201.50.
3:03 pm: The overall market breadth remains marginally negative as 1,433 stocks were declining while 1,165 were advancing on the BSE.
2:38 pm: Mahindra & Mahindra reports net profit of Rs. 725 crore on sales of Rs. 12,011 crore. Shares jump 1 per cent to Rs. 1,366.50.
2:19 pm: Shares of PVR Ltd fell as much as 3 per cent to Rs. 1,425 after the company post market hours on Monday reported a loss of Rs. 5 lakh in March quarter.
2:05 pm: Pharma stocks witness buying interest after falling for 9 days in a row. The BSE Healthcare index was up 2 per cent; Aurobindo Pharma, Dr Reddy’s Labs, Lupin, Sun Pharma, Cipla, Cadila Healthcare and Jubilant Lifesciences were among the gainers.
1:29 pm: The overall market breadth was marginally negative as 1,473 shares were declining while 1,031 were advancing on the BSE.
1:21 pm: Shares of Power Finance Corp (PFC) today declined by nearly 10 per cent after the company reported a standalone net loss of Rs. 3,409.49 crore in the quarter ended March 31. The stock fell 9.77 per cent to Rs. 122.25 on BSE.
12:36 pm: Shares of fertiliser companies such as Tata Chemicals, EID Parry, Coromandel International, Rashtriya Chemical and Fertilisers, Zuari Industries and Chambal Fertilizers were trading higher on reports that Southwest monsoon rains hit Kerala coast and North East two days before its normal onset date.
11:56 am: Coal India shares fall 3 per cent to hit 52-week low of Rs. 260 after the company disappointed the street with weak Q4 numbers. Coal India’s net profit fell 38 per cent to Rs. 2,716 crore against estimated profit of Rs. 3,839 crore.
11:43 am: Shares of BHEL today tumbled nearly 13 per cent after the company’s standalone net profit declined by 57 per cent in the March quarter.
After making a weak opening, shares of the company plunged 12.81 per cent to Rs. 133.65 on BSE.
11:15 am: Shares of Aurobindo Pharma rallied as much as 11 per cent to hit intraday high of Rs. 568.25 despite reporting weak set of March quarter earnings. Aurobindo Pharma post market hours on Monday reported that its net profit in the March quarter fell 4 per cent to Rs. 532 crore from Rs. 554.77 crore in the same period a year ago. Analysts on an average had expected Aurobindo Pharma to report net profit of Rs. 588 crore on sales of Rs. 4,014 crore.
10:31 am: Shares of Tech Mahindra rose as much as 1.84 per cent to hit intraday high of Rs. 386.30 in today’s session after Monday’s sharp selloff. At day’s lowest level, in yesterday’s session, shares of Tech Mahindra fell 17 per cent eroding investor’s wealth by nearly Rs. 7,000 crore as it reported lower-than-expected fourth-quarter profit. Tech Mahindra shares closed with over 11 per cent losses yesterday.
10:12 am: Banking shares were witnessing good buying interest. The BSE banking index Bankex was up 0.6 per cent; ICICI Bank was the top gainer from this space, up 2.7 per cent at Rs. 323. Federal Bank, Axis Bank, Bank of Baroda, State Bank of India, Yes Bank and Punjab National Bank were also among the gainers.
9:44 am: Reliance Communications shares fall for third day in a row, plunge 27 per cent to Rs. 18.95.
9:36 am: NALCO was the top loser from the mid-cap space, down 2.7 per cent at Rs. 66.80. Oberoi Realty, JSW Energy, GMR Infra, OFSS, UPL, SAIL, Bharat Electronics, Berger Paints, ABB, Biocon and Kensai Nerolac were also among the losers.
9:31 am: Jubilant FoodWorks was the top loser from the small-cap space, down 10 per cent at Rs. 848 after the company disappointed the Street by announcing dismal set of March quarter earnings. Nitin Fire, Royal Orchid Hotels, IL&FS Investment Managers, Ujaas Energy, MMTC, KCP Sugar and Lovable Lingerie were also among the losers from this space.
9:26 am: From the Nifty basket of shares, 28 were declining while 23 were advancing. BPCL was the top Nifty loser, down 2.63 per cent at Rs. 735 after the company reported that its net profit in the March quarter declined to Rs. 1,842 crore from Rs. 2,116 crore during the same period a year ago. Coal India also reacted to its earnings which came in lower than estimates and the stock fell 1.6 per cent. Bharti Infratel, TCS, ACC, Vedanta, Ambuja Cements, Power Grid and ITC were also among the losers. On the other hand, Aurobindo Pharma, Cipla, Tech Mahindra, Indian Oil, Lupin, Larsen & Toubro and Dr Reddy’s Labs were among the gainers.
8:06 am: Shares of Larsen & Toubro may react to its earnings which came in post market hours on Monday. L&T reported a jump of 28 per cent in the consolidated net profit at Rs. 3,180 crore in the March quarter compared with net profit of Rs. 2,482 crore during the same period year ago. The earnings were better-than-estimates as analysts expected L&T to report net profit of Rs. 2,592 crore.
BHEL also reported its earnings yesterday. The capital goods major’s earnings were below the Street estimates. BHEL’s net profit fell to Rs. 216 crore in March quarter compared with Rs. 506 crore a year earlier. Analysts expected the company to report net profit of Rs. 582 crore.
Shares of Jubilant FoodWorks which operates popular pizza chain Domino’s may stage a gap down opening after the company reported that its adjusted net profit in March quarter fell to Rs. 18.9 crore from Rs. 27.8 crore, a year earlier. Analysts had expected the company to report net profit of Rs. 24.7 crore.
In yesterday’s session, foreign institutional investors sold shares worth Rs. 710 crore on Monday while domestic institutional investors bought shares worth Rs. 290 crore.
For latest news on Business, like us on Facebook and follow us on Twitter.