Sensex continues to be above 20100 on the back of gains from Reliance Industries. Oil & gas, capital goods, FMCG and power stocks were the major gainers.
Shares of Reliance Industries Ltd hit a 52-week high after the company posted 24% rise in net profit for Q3.The stock ended at Rs920, up Rs21.05. The stock hit a high of Rs954 and a low of Rs918.
"While the undertone remains bullish, the indices appear to be consolidating. The broader market too was lackluster. Corporate results have brought in some cheer but the movement seems restricted to select counters only. The year has started on a high. FIIs have kept the tap flowing with over ~Rs110bn in this calendar year. Our bullish view is reinforced by several positive factors concurrently taking place. The peak out of the interest rate cycle is another big trigger. On the heels of two CRR cuts, we now expect a Repo rate cut of 25 basis points in the January 2013 policy review meet of RBI.", says Amar Ambani; Head of Research, IIFL.
Retaining India's credit rating at the existing level, global agency Moody's has cautioned that a high fiscal deficit could pull the growth down in the coming years. On the positive side, the global rating agency reaffirmed sovereign credit rating of India at Baa3, which indicates investment grade, with a stable outlook.
Globally, Asian stocks were higher, while Japanese shares sliding back as a two-day meeting at the Bank of Japan got underway.
Nikkei slipped 1.5% at 10,748, while Shanghai Composite advanced added 0.5% at 2,328. The US markets will remain closed today.
Finally, BSE Sensex closed at 20101, up 62 points over the previous close. It had earlier touched a day's high of 20163 and a day's low of 20056. It opened at 20132.
The NSE Nifty closed at 6,082 up 17 points over the previous close. It earlier touched a day’s high of 6,092 and a day’s low of 6,065. It opened at 6,085.
The BSE Small-Cap index was flat, while BSE Mid- Cap index closed down 0.14%.
RIL, Wipro, Infosys, Tata Power, Hero MotoCorp, HUL, Bharti Airtel, ICICI Bank, ONGC, Dr Reddys Lab, Hindalco Inds were among gainers in Sensex and Nifty.
TCS, Coal India, Tata Steel, Bajaj Auto, Tata Motors, NTPC, HDFC Bank, M&M, Sun Pharma were among losers in Sensex and Nifty.
Capital Goods, Oil and Gas, FMCG, Power, Consumer Durables indices are the gainers.
Bankex, IT, Healthcare, Realty, Metal, PSU indices are the losers.
The rupee today rose by six paise to 53.65 against the dollar
Shares of Spicejet Ltd surged 5% after the company has posted net profit for Q3.The stock closed at Rs46.15, up Rs2.20. The stock has hit a high of Rs47 and a low of Rs44.
Shares of HDFC was down 1% despite the company has posted net profit for Q3.The stock closed at Rs809, down Rs6.70. The stock has hit a high of Rs822 and a low of Rs825.
BHEL gained 2% at Rs231 after it said it has achieved a significant milestone in Africa with the successful commissioning of its first Steam Turbine Generator (STG) Unit in Ethiopia. The stock ends at Rs231, up Rs5.10. The stock has hit a high of Rs233 and a low of Rs226.
Stock of NTPC Ltd. was down 1.7% ahead of its quarterly results which is set to be released on Monday. The stock closed at Rs161.25, down almost Rs.2.40. The stock hit high of Rs167 and a low of Rs160.Total
traded quantity on the counter stood at over 5.3 lakh shares.
Stock of UltraTech Cements Ltd. closed up 0.7% after the cement company’s net profit for the third quarter lowered marginally to Rs 6.01 bn down from Rs 6.17bn in the same quarter last fiscal. The stock ended the day at Rs1924.90, up by Rs15. The stock has hit a high of Rs1944 and a low of Rs1866. Total traded quantity on the counter stood at over 1.34 lakh shares.
Reliance Power Ltd has jumped almost 4% after the company sought approval from sector regulator CERC to revise tariff of its 4,000 MW Sasan project in Madhya Pradesh because of a rise in taxes and user charges.
The stock closed at Rs97.40, up almost Rs4. The stock has hit a high of Rs97.45 and a low of Rs 93.60 Total traded quantity on the counter stood at over 23.7 lakh shares
The advance decline ratio was in favour of the bears. 1370 stocks advanced against1514 declining stocks.137 stocks remained unchanged.
The INDIA VIX on NSE is at 13.66. It hit a day’s high of 14.39 and day's low of 13.63.
Stocks which hit 52-week high during the week were RIL, BPCL, Bombay Cycle, Jolly Board and Zodiac Ven
Stocks which hit 52 week low during the week were Asianhotnr, Elantas beck, PH Capital, Himadri Chem and Maharashtra Seam
India Infoline Research Team / 15:28, Mar 13, 2015
Markets are now reinforcing the perception of an early interest rate hike by US Federal Reserve, with consensus calling for the hike taking place in June, when compared with the prior expectations of a hike in September.