Markets Recover From Early Losses; Metal Shares Gain

The Indian benchmark index was trading in green in the morning session of day"s trade as a result of rise in metal stocks led by Vedanta followed by Steel Authority of India, Hindalco Industries, Tata Steel and Coal India.

Markets Recover From Early Losses; Metal Shares Gain

Shares of HCL Technologies fell after the company reported disappointing set of numbers for the quarter ended March 2016 (Q4FY16). The country's fourth-largest information technology (IT) services firm HCL Technologies reported lower-than-expected a marginal 0.3 per cent growth in consolidated net profit at Rs 1,926 crore for Q4FY16 on sequential basis. Revenues grew 3.4 per cent at Rs 10,698 crore on quarter on quarter (QoQ) basis.

At 10:21AM BSE SENSEX was at 25681.91, up by 78.81 points or by 0.31 per cent while the NSE Nifty was at 7865.1, up by 17.85 points or by 0.23 per cent.

The BSE MIDCAP was at 11051.69, up by 33.22 points or by 0.3 per cent while the BSE SMLCAP was at 11062.18, up by 36.25 points or by 0.33 per cent.

The top gainers of the BSE Sensex pack were Lupin Ltd. (Rs. 1612.00,+2.21 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 220.30,+1.54 per cent), Cipla Ltd. (Rs. 535.00,+1.51 per cent), Tata Steel Ltd. (Rs. 352.00,+1.24 per cent), Axis Bank Ltd. (Rs. 473.90,+1.21 per cent), among others.

The top losers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 367.50,-1.29 per cent), ICICI Bank Ltd. (Rs. 237.15,-1.25 per cent), Mahindra & Mahindra Ltd. (Rs. 1337.00,-0.47 per cent), Hero MotoCorp Ltd. (Rs. 2893.65,-0.26 per cent), Asian Paints Ltd. (Rs. 872.00,-0.23 per cent), among others.

The top gainers of the NSE Nifty pack were Lupin Ltd. (Rs. 1604.95,+1.82 per cent), Tata Power Company Ltd. (Rs. 70.45,+1.73 per cent), Ambuja Cements Ltd. (Rs. 223.15,+1.50 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 220.10,+1.50 per cent), Axis Bank Ltd. (Rs. 474.20,+1.31 per cent), among others.


The top losers of the NSE Nifty pack were HCL Technologies Ltd. (Rs. 764.75,-4.39 per cent), Idea Cellular Ltd. (Rs. 121.75,-3.75 per cent), Bharti Airtel Ltd. (Rs. 367.30,-1.45 per cent), ICICI Bank Ltd. (Rs. 236.85,-1.35 per cent), Grasim Industries Ltd. (Rs. 4095.75,-0.53 per cent), among others.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 1887 shares traded, 1171 shares advanced, 608 shares declined while 108 were unchanged.

Among the sectoral indices on BSE, BSE Metal index was at 8008.22 up by 89.99 points or by 1.14 per cent. Vedanta Ltd. (Rs. 103.30,+3.30 per cent), Steel Authority of India (SAIL) Ltd. (Rs. 48.30,+2.88 per cent), Hindalco Industries Ltd. (Rs. 98.30,+1.44 per cent), Tata Steel Ltd. (Rs. 352.00,+1.24 per cent), Coal India Ltd. (Rs. 287.30,+0.61 per cent).

Read more about: sensex, nifty
Story first published: Friday, April 29, 2016, 11:00 [IST]
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