Thursday, 5 May 2016

Nifty eyes 7750, Sensex rises over 100pts; Tata Motors, Lupin up

Tata Motors, Lupin, Sun Pharma, HDFC and Hindalco are gainers while Adani Ports, Axis Bank, TCS, Infosys and Wipro are losers in the Sensex.

10:30 am Market outlook: After a sharp rally in the March, market is finding it hard to cross the 8000 level.

The market is going through a consolidation phase in range of 7700-7900 level, says Krishna Kumar Karwa, Managing Director of Emkay Global Financial Services.

“Market is taking a breather to evaluate valuations during earnings season,” he says.

Earnings, so far, have been decent, he says adding that banking stocks, which are reeling under stressed asset situation, have shown resilence post earnings. The most important trigger for market now is monsoon.

Don't miss: Eicher Motors Q5 net may soar 76%, revenue seen up 55%: Poll 

The market is still holding up its early gains supported by few index heavyweights. The Sensex is up 117.95 points or 0.5 percent at 25219.68, and the Nifty is up 22.50 points or 0.3 percent at 7729.05. About 940 shares have advanced, 670 shares declined, and 66 shares are unchanged.

Tata Motors, Lupin, Sun Pharma, HDFC and Hindalco are gainers while Adani Ports, Axis Bank, TCS, Infosys and Wipro are losers in the Sensex.

Gold firmed after three days of losses on weaker global equities, but held below a 15-month peak as the dollar rebounded against the yen after a recent slump.

US interest rates futures rose as the weaker-than-expected US private jobs growth in April caused traders to price in lower chances the Federal Reserve will raise interest rates at its June policy meeting.

Sensex, Nifty open higher; Sun Pharma up 3%, ITC falls

Sun Pharma, Adani Ports, Hero MotoCorp, Tata Motors and Lupin are gainers while ITC, Tata Steel and Dr Reddy's Labs are losers in the Sensex.
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2 comments:

Ravi Kumar said...
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Ravi Kumar said...

Thanks for sharing Stock market tips... I was thinking to buy L&T.