Friday, January 23, 2015

Sensex up 273 pts, Nifty ends above 8800 for 1st time ever

03:30pm Market Closing

The market rallied for the seventh consecutive session on Friday, spiking nearly 2000 points on the Sensex (in seven days). The Sensex today gained 272.82 points or 0.94 percent at 29278.84 and the Nifty jumped 60.15 points or 0.69 percent to 8821.55 on ECB stimulus.

About 1140 shares have advanced, 1803 shares declined, and 253 shares are unchanged on the BSE.

Tata Power saw huge buying interest in late trade, up nearly 7 percent. Tata Motors and Bharti Airtel rallied close to 4 percent. DLF spiked 5.5 percent, and Cairn India jumped over 4 percent on rise in crude oil prices.

Cipla, L&T, HDFC Bank, HUL, M&M and Sesa Sterlite gained 2-3 percent whereas PNB, GAIL, BHEL, HCL Technologies and ONGC were down 1-2.7 percent.

03:15pm Atul under pressure

Atul has registered a 17.6 percent drop in its third quarter net profit at Rs 53.7 crore against Rs 65.2 crore in the same quarter last year. The stock lost 5 percent.

Net sales of the chemical company were up 7.2 percent at Rs 617.2 crore versus Rs 575.8 crore during the same period

Operating profit grew 20 percent to Rs 84 crore from Rs 65 crore and margin jumped 150 bps to 13.7 percent versus 12.2 percent on yearly basis. Its other income was down at Rs 4 crore versus Rs 20 crore.

03:00pm Market Update

The market extended gains as the Sensex surged 294.44 points or 1.02 percent to  29300.46 and the Nifty climbed 77.65 points or 0.89 percent to 8839.05.

Tata Power topped the buying list, up 7 percent followed by Tata Motors and Bharti Airtel with 4 percent rally. HDFC Bank, L&T, HUL, M&M and Cipla surged 2-3 percent.

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