Sensex gains 100 points, Nifty50 tests 7,250; Maruti Suzuki slips 3%

NEW DELHI: The S&P BSE Sensex surged over 100 points on Monday tracking positive global cues. The gains were led by ICICI bank, Reliance Industries, Tata Motors, L&T, Sun Pharma.

The 50-share NSE barometer Nifty50 was testing its crucial support level of 7,250 supported by leads in banking, auto, realty and energy stocks.

The broader market traded in line with the benchmark indices with the BSE midcap and BSE smallcap indices rising 0.46 and 0.42 per cent, respectively.

The rupee depreciated 22 paise to 68.68 against the US dollar on Monday, despite positive cues from most Asian currency markets.

The domestic currency had settled last week at 68.46. The rupee had hit an all-time low of 68.85 on August 28, 2013.

Most other Asian markets traded higher. Japan’s Nikkei was up 0.58 per cent while the South Korean Kospi was trading lower by 0.31 per cent. Hong Kong’s Hang Seng index was up 0.99 per cent. China’s CSI300 index traded with gains of 2.11 per cent.

Markets @ 10:30

Sensex: 23790.97, up 81 points; Nifty50: 7236.20, up 25 points

Top Gainers:

HUL (2.3%), BHARTI AIRTEL (2.3%), LUPIN (1.7%), RIL (1.5%), SUN PHARMA (1.2%)

Top Losers:

ITC (2.5%), MARUTI SUZUKI (2.0%), NTPC (0.8%), GAIL (0.7%), ADANI PORTS & SEZ (0.4%)
Here is a list of top ten stocks that are likely to be in focus today:

Maruti Suzuki India Ltd: India’s biggest carmaker by sales, said it had suspended operations at its northern auto plants after protests disrupted the supply of some components.

National Fertilisers Ltd: In a filing to BSE, National Fertilisers Ltd (NFL) said that the “board of directors of the company accorded in principle approval for equity participation of 11 percent in the revival of Sindri Unit of FCIL (Fertiliser Corporation of India Ltd)”.

Siti Cable Network Ltd: The Essel Group firm Siti Cable Network said its board has approved allotment of securities to promoter firms to raise Rs 830 crore through warrants and optionally fully convertible debentures (OFCDs).

Aditya Birla Nuvo Ltd: Aditya Birla Nuvo Ltd has announced that the Company jointly with Idea Cellular Limited has incorporated a new subsidiary for the aforesaid purpose in the name and style of ‘Aditya Birla Payment Bank Ltd’.

Suprajit Engineering Ltd: The leading automotive supplier Suprajit Engineering has raised Rs 150 crore through a qualified institutional placement (QIP) amidst the turmoil in the markets, indicating that quality papers from performing companies have great demand from high net worth investors and fund houses.

Jet Airways Ltd: Jet Airways on Friday termed as “rumour” and “speculative” a news report claiming that UAE’s national airline Etihad is set to raise its stake in the airline from 24 percent to 49 percent.

Divi’s Laboratories Ltd: Drug firm Divis Laboratories today said the US health regulator has conducted a successful inspection of its Unit-2 facility at Visakhapatnam this month.

Coal India Ltd: Coal India Ltd has asked its subsidiaries to ensure supply of crushed coal to power plants and said any case related to non-addressal of the same should be brought to the notice of the Maharatna firm.

IDBI Bank: State-owned IDBI Bank said it plans to raise up to Rs 1,500 crore by selling stake to Life Insurance Corporation (LIC) by preferential issuance of shares to the insurer.

Godrej Consumer Products Ltd: Home-grown FMCG major Godrej Consumer Products Ltd (GCPL) will increase shareholding in many of its joint ventures as part of its consolidation process, besides keeping acquisition options open in markets where it is already present.

MARKETS THROUGH THE DAY:

Markets @ 9:25

Sensex: 23735.81, up 26 points; Nifty50: 7216.25, up 5 points

Top Gainers:

TATA MOTORS (1.7%), ADANI PORTS & SEZ (1.3%), ICICI BANK (1.3%), GAIL (1.2%), BHARTI AIRTEL (1.1%)