ET OnlineNEW DELHI: The benchmark indices climbed over 600 points in trade on Monday after the Chinese central bank PBoC allayed some fears over depreciating yuan by setting its fixing at a one-month high.
The 50-share Nifty50 was also trading above its crucial psychological level of 7,150 supported by gains in banking, auto, metals and pharma stocks.
The broader markets traded in line with the benchmark indices with the BSE midcap and BSE smallcap indices trading higher by 2.66 and 3.04 per cent, respectively.
Data across the globe was negative with preliminary figures showing Japanese economy contracting in the December quarter, while both imports and exports in China degrowing in January.
However, yuan fixing at a higher level was seen as a positive step by PBOC's governor Zhou Xiaochuan, who on Sunday said that there was no basis for the yuan to keep depreciating, and China would keep the yuan stable against a basket of currencies, while allowing a greater volatility against the US dollar. A rise in yuan could restrict outflows from the domestic market.
Markets @ 2:00
Sensex: 23588.66, up 602 points; Nifty50: 7168.90, up 188 points
Top Gainers:
TATA STEEL (13.2%), L&T (8.9%), SBI (8.4%), COAL INDIA (8.0%), ADANI PORTS & SEZ (7.3%)
Top Losers:
BHARTI AIRTEL (2.2%), HUL (0.9%)
Here is a list of top twenty stocks that are in focus today:
HPCL: State-owned oil marketing company Hindustan Petroleum Corporation (HPCL) turned profitable in October-December quarter. Profit came in at Rs 1,042.3 crore during the quarter against loss of Rs 320.5 crore in preceding quarter.
BPCL: State-owned oil marketing company Bharat Petroleum Corporation's (BPCL) third quarter profit shot up 46.2 percent sequentially to Rs 1,488.6 crore on strong operational performance despite lower other income, said a media report.
Nestle India Ltd: Impacted by the Maggi controversy, foods maker Nestle on Friday reported sales decline of 22.6 per cent for the October-December '15 quarter over the corresponding year-ago quarter
Tata Steel: Tata Steel India Managing Director TV Narendran said the first phase of Kalinganagar plant in Odisha is scheduled to start commercial production at the beginning of next financial year, while the second phase ramp up with happen once demand gets better.
Bharat Forge Ltd: Swedish defence and security major Saab and Bharat Forge group have renewed their commitment to manufacture air defence solutions in India, said a media report.
Sun Pharma Ltd: Drug major Sun Pharmaceutical Industries may ask the US Food and Drug Administration (FDA) in the first quarter of next fiscal year for reinspection of its Halol facility as it undertakes remediation measures to make the plant compliant to good manufacturing practice norms.reinspection of its Halol facility as it undertakes remediation measures to make the plant compliant to good manufacturing practice norms.
NMDC: NMDC, the country's largest state owned mining company has recorded a 59% drop in profit after tax (PAT) of Rs 655 crore in the 3rd quarter of 2015-16, driven by fall in selling price of iron ore which also pushed NMDC's turnover down by 49% to Rs 1,517 crore during the quarter under review.
MTNL: State-run MTNL reported a narrowed down net loss at Rs 704.93 crore for the quarter ended December 31, 2015.
Alok Industries Ltd: The company has posted a net loss of Rs. 1638.2 crore for the quarter ended December 31, 2015 as compared to net profit of Rs. 25.8 crore for the quarter ended December 31, 2014.
Punj Lloyd Ltd: Infrastructure major Punj Lloyd saw its net loss widening to Rs 300 crore for the quarter ended December 31, 2015 on factors including decreased income and delay in award of projects.
Financial Technologies Ltd: The Supreme Court has asked India Energy Exchange to pay Rs 31 crore dividend to Financial Technologies (India) within two weeks.
MRPL: Mangalore Refinery and Petrochemicals Ltd (MRPL) returned to black with a net profit of Rs 298 crore in the December quarter on the back of robust refining margins.
CEAT Ltd: Tyre maker Ceat will invest Rs 300 crore to set up a manufacturing facility in Maharashtra to primarily serve export market for off-road radial tyres.
Rolta India Ltd: The company recorded a fall of 38.7% in its net profit at Rs.46.9 crore for the quarter ended December 31, 2015 as compared to Rs.76.6 crore for the quarter ended December 31, 2014.
Godrej Industries Ltd: The company on Friday reported a 53.30 per cent increase in consolidated net profit at Rs 138.97 crore for the quarter ended December.
Corporation Bank: The state-run Corporation Bank reported a loss of Rs 383.37 crore for the third quarter ended December 31, 2015, due to significant jump in bad loans.
SKF India Ltd: The bearings maker SKF India reported a 42.22 percent increase in its net profit at Rs 58.14 crore for the fourth quarter ended December 31.
IDBI Bank Ltd: The sate-owned IDBI Bank Ltd reported a net loss of Rs.2,183.68 crore for the three months ended 31 December 2015, the largest by any bank in the quarter so far, as bad-loan provisions almost quadrupled.
UCO Bank: The strain that Indian banking sector is going through has aggravated further with Uco Bank becoming the latest to slip into red for the December quarter with its gross sticky loan ratio deteriorating to nearly 11%.
ITC Ltd: Diversified group ITC is looking to invest Rs 800 crore in Odisha over the next few years to set up a hotel property and a food processing park in the state, a top official said.
MARKET THROUGH THE DAY:
Markets @ 12:00
Sensex: 23521.97, up 535 points; Nifty50: 7155.20, up 174 points
Top Gainers:
TATA STEEL (10.7%), L&T (7.2%), ADANI PORTS & SEZ (7.2%), SBI (7.1%), AXIS BANK (5.4%)
Top Losers:
BHARTI AIRTEL (2.0%), HUL (1.0%)
Markets @ 11:00
Sensex: 23472.97, up 486 points; Nifty50: 7145.20, up 164.25
Top Gainers:
TATA STEEL (9.2%), ADANI PORTS & SEZ (6.9%), SBI (6.2%), L&T (4.6%), LUPIN (4.1%)
Top Loser:
BHARTI AIRTEL (1.2%)
Markets @ 10:00
Sensex: 23412.42, up 426 points; Nifty50: 7118.15, up 137 points
Top Gainers:
TATA STEEL (10.1%), ADANI PORTS & SEZ (6.1%), SBI (4.9%), AXIS BANK (3.9%), LUPIN (3.7%)
Top Loser:
BHARTI AIRTEL (1.0%)
Market @ 9.20
The BSE Sensex was trading over 300 points higher at 23,293.95. The NSE barometer Nifty50 reclaimed the 7,000 mark and was trading 1.21 per cent higher at 7,070.
The 50-share Nifty50 was also trading above its crucial psychological level of 7,150 supported by gains in banking, auto, metals and pharma stocks.
The broader markets traded in line with the benchmark indices with the BSE midcap and BSE smallcap indices trading higher by 2.66 and 3.04 per cent, respectively.
Data across the globe was negative with preliminary figures showing Japanese economy contracting in the December quarter, while both imports and exports in China degrowing in January.
However, yuan fixing at a higher level was seen as a positive step by PBOC's governor Zhou Xiaochuan, who on Sunday said that there was no basis for the yuan to keep depreciating, and China would keep the yuan stable against a basket of currencies, while allowing a greater volatility against the US dollar. A rise in yuan could restrict outflows from the domestic market.
Markets @ 2:00
Sensex: 23588.66, up 602 points; Nifty50: 7168.90, up 188 points
Top Gainers:
TATA STEEL (13.2%), L&T (8.9%), SBI (8.4%), COAL INDIA (8.0%), ADANI PORTS & SEZ (7.3%)
Top Losers:
BHARTI AIRTEL (2.2%), HUL (0.9%)
Here is a list of top twenty stocks that are in focus today:
HPCL: State-owned oil marketing company Hindustan Petroleum Corporation (HPCL) turned profitable in October-December quarter. Profit came in at Rs 1,042.3 crore during the quarter against loss of Rs 320.5 crore in preceding quarter.
BPCL: State-owned oil marketing company Bharat Petroleum Corporation's (BPCL) third quarter profit shot up 46.2 percent sequentially to Rs 1,488.6 crore on strong operational performance despite lower other income, said a media report.
Nestle India Ltd: Impacted by the Maggi controversy, foods maker Nestle on Friday reported sales decline of 22.6 per cent for the October-December '15 quarter over the corresponding year-ago quarter
Tata Steel: Tata Steel India Managing Director TV Narendran said the first phase of Kalinganagar plant in Odisha is scheduled to start commercial production at the beginning of next financial year, while the second phase ramp up with happen once demand gets better.
Bharat Forge Ltd: Swedish defence and security major Saab and Bharat Forge group have renewed their commitment to manufacture air defence solutions in India, said a media report.
Sun Pharma Ltd: Drug major Sun Pharmaceutical Industries may ask the US Food and Drug Administration (FDA) in the first quarter of next fiscal year for reinspection of its Halol facility as it undertakes remediation measures to make the plant compliant to good manufacturing practice norms.reinspection of its Halol facility as it undertakes remediation measures to make the plant compliant to good manufacturing practice norms.
NMDC: NMDC, the country's largest state owned mining company has recorded a 59% drop in profit after tax (PAT) of Rs 655 crore in the 3rd quarter of 2015-16, driven by fall in selling price of iron ore which also pushed NMDC's turnover down by 49% to Rs 1,517 crore during the quarter under review.
MTNL: State-run MTNL reported a narrowed down net loss at Rs 704.93 crore for the quarter ended December 31, 2015.
Alok Industries Ltd: The company has posted a net loss of Rs. 1638.2 crore for the quarter ended December 31, 2015 as compared to net profit of Rs. 25.8 crore for the quarter ended December 31, 2014.
Punj Lloyd Ltd: Infrastructure major Punj Lloyd saw its net loss widening to Rs 300 crore for the quarter ended December 31, 2015 on factors including decreased income and delay in award of projects.
Financial Technologies Ltd: The Supreme Court has asked India Energy Exchange to pay Rs 31 crore dividend to Financial Technologies (India) within two weeks.
MRPL: Mangalore Refinery and Petrochemicals Ltd (MRPL) returned to black with a net profit of Rs 298 crore in the December quarter on the back of robust refining margins.
CEAT Ltd: Tyre maker Ceat will invest Rs 300 crore to set up a manufacturing facility in Maharashtra to primarily serve export market for off-road radial tyres.
Rolta India Ltd: The company recorded a fall of 38.7% in its net profit at Rs.46.9 crore for the quarter ended December 31, 2015 as compared to Rs.76.6 crore for the quarter ended December 31, 2014.
Godrej Industries Ltd: The company on Friday reported a 53.30 per cent increase in consolidated net profit at Rs 138.97 crore for the quarter ended December.
Corporation Bank: The state-run Corporation Bank reported a loss of Rs 383.37 crore for the third quarter ended December 31, 2015, due to significant jump in bad loans.
SKF India Ltd: The bearings maker SKF India reported a 42.22 percent increase in its net profit at Rs 58.14 crore for the fourth quarter ended December 31.
IDBI Bank Ltd: The sate-owned IDBI Bank Ltd reported a net loss of Rs.2,183.68 crore for the three months ended 31 December 2015, the largest by any bank in the quarter so far, as bad-loan provisions almost quadrupled.
UCO Bank: The strain that Indian banking sector is going through has aggravated further with Uco Bank becoming the latest to slip into red for the December quarter with its gross sticky loan ratio deteriorating to nearly 11%.
ITC Ltd: Diversified group ITC is looking to invest Rs 800 crore in Odisha over the next few years to set up a hotel property and a food processing park in the state, a top official said.
MARKET THROUGH THE DAY:
Markets @ 12:00
Sensex: 23521.97, up 535 points; Nifty50: 7155.20, up 174 points
Top Gainers:
TATA STEEL (10.7%), L&T (7.2%), ADANI PORTS & SEZ (7.2%), SBI (7.1%), AXIS BANK (5.4%)
Top Losers:
BHARTI AIRTEL (2.0%), HUL (1.0%)
Markets @ 11:00
Sensex: 23472.97, up 486 points; Nifty50: 7145.20, up 164.25
Top Gainers:
TATA STEEL (9.2%), ADANI PORTS & SEZ (6.9%), SBI (6.2%), L&T (4.6%), LUPIN (4.1%)
Top Loser:
BHARTI AIRTEL (1.2%)
Markets @ 10:00
Sensex: 23412.42, up 426 points; Nifty50: 7118.15, up 137 points
Top Gainers:
TATA STEEL (10.1%), ADANI PORTS & SEZ (6.1%), SBI (4.9%), AXIS BANK (3.9%), LUPIN (3.7%)
Top Loser:
BHARTI AIRTEL (1.0%)
Market @ 9.20
The BSE Sensex was trading over 300 points higher at 23,293.95. The NSE barometer Nifty50 reclaimed the 7,000 mark and was trading 1.21 per cent higher at 7,070.
(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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