Sensex rallies over 200 points; Nifty50 scales above 7,450 levels

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NEW DELHI: The S&P BSE Sensex rallied over 200 points on Monday following positive trends seen in other Asian markets and a bounce in oil prices to above $32-mark.

The Nifty50 scaled above its crucial level of 7,450 supported by gains in metal, capital goods, oil & gas, realty, and power stocks.

Shares of SpiceJet jumped over 10 per cent while that of Force Motors climbed by 6 per cent. ONGC also traded with gains of over 2 per cent to become the top gainer on the BSE Sensex. Meanwhile, Bharti Airtel lost about 3 per cent.

The rupee rose 9 paise to 67.53 against the US dollar in early trade on Monday amid positive cues from other Asian currencies.

The domestic currency had closed 39 paise higher at 67.63 on Friday on fresh dollar selling by banks and exporters.
Most other Asian markets traded higher following on the rally seen in US markets on Friday and bounce in crude prices. Japan’s Nikkei traded higher by a per cent while the South Korean Kospi was up 0.95 per cent. Hong Kong’s Hang Seng index was up 2 per cent. China’s CSI 300 index was also trading higher by a per cent.

Markets @ 10:00

Sensex: 24622.78, up 187 points; Nifty50: 7484.45, up 62 points

Top Gainers:

TATA STEEL (2.0%), ADANI PORTS & SEZ (1.7%), ONGC (1.7%), HDFC (1.7%), BHEL (1.7%)

Top Losers:

BHARTI AIRTEL (1.8%), AXIS BANK (1.6%), HERO MOTOCORP (0.8%), WIPRO (0.7%)

WHAT TOP EXPERTS ARE SAYING:

US Fed is the real problem in the world right now leading to uncertainty: Reorient Group

Maintain Underperform on ITC; target cut to Rs 300 from Rs 312: Credit Suisse

Maintain Hold on Cairn India; set target of Rs 135: Deutsche Bank

Maintain Outperform on Cairn India; target cut to Rs 150 from Rs 166: Macquarie

Here is a list of top fifteen stocks that are in focus today:

ITC Ltd: ITC reported a marginal 0.6 per cent year-on-year (YoY) growth in net profit at Rs 2,652 crore on Friday, which was below the Rs 2,750 crore projection that some analysts had made in an ET Now poll. The FMCG major had reported a net profit of Rs 2,635 crore for the corresponding quarter last year.

Cairn India Ltd: Cairn India’s net profit plummeted to Rs 9 crore in the third quarter of 2015-16, 99% lower than the same quarter last year dented by lower revenue and higher operating costs. Net revenue for the December quarter declined 42% year-on-year to Rs 2,039 crore primarily due to sharp decline of 13% in crude prices.

Reliance Communications Ltd: Reliance Communication on Friday reported a 15 per cent year-on-year drop in its net profits for the quarter ended December mainly because it lost 2G mobile service licences in five circles in 2015.

Idea Cellular Ltd: Idea Cellular proposes to roll out 4G LTE network in 750 towns under 10 circles by June this year, according to top company officials, said a media report.

Unichem Laboratories Ltd: Drug firm Unichem Laboratories on Saturday reported nearly 10-fold jump in standalone net profit to Rs 20.54 crore for the quarter ended December 31, mainly on account of robust sales.

Mahindra Holidays & Resorts India Ltd: The company reported 33.24 per cent increase in net profit at Rs 31.26 crore for the third quarter ended December. The company had posted a net profit of Rs 23.46 crore in the same period last fiscal, Mahindra Holidays & Resorts India said in a BSE filing.

Finolex Industries Ltd: Leading rigid PVC-U pipes and fittings manufacturer Finolex Industries Ltd (FIL) plans to invest Rs 100 crore in adding 1,00,000 tonnes of pipes capacity over the next three years, said a media report.

Persistent Systems Ltd: Pune-headquartered software firm Persistent Systems posted better than expected number for the quarter ended December 2015 with sales of Rs 592.07 cr, a growth of 9.1% sequentially and 19.7% year-on-year.

Kwality Ltd: Dairy firm Kwality on Saturday reported a 3.5 per cent increase in its net profit at Rs 37.40 crore for the quarter ended December 31.

NMDC Ltd: State-run iron ore miner NMDC will soon start the construction of 52-km long railway siding project for its over Rs 15,500 crore steel plant at Nagarnar in Chhattisgarh.

Gammon India Ltd: Banks now control a 53.54% stake in debt-laden construction and engineering company Gammon India. The consortium of eight banks has become the largest shareholder of Gammon India in the public shareholder category, according to the shareholding pattern of the company as on December 29 on the BSE, said a media report.

Adani Power Ltd: The company received shareholders’ approval to convert debt or parts those of up to Rs 35,000 crore into fully paid up equity shares of the company.

Tata Power Ltd: The company said it has terminated an agreement with Nagpur-based Ideal Energy Projects to acquire a 270 MW coal-based power project in Maharashtra due to non-fulfilment of certain conditions.

Ashoka Buildcon Ltd: The company has reported a consolidated total income from operations of Rs 603.87 crore and a net profit of Rs 13.26 crore for the quarter ended Dec ’15. For the quarter ended Dec 2014 the consolidated total income from operations was Rs 455.58 crore and net profit was Rs 1.28 crore, said a media report.

Cipla Ltd: Drug major Cipla announced completion of selling its entire holding in Hong Kong-based Biomab Holding to Biomab Brilliant for $ 2.5 million. The company on January 22, 2016 completed the transfer formalities in relation to the divestment of its entire 25 per cent stake held in Biomab Holding Limited, Hong Kong, Cipla said in a BSE filing.

GAIL, Gujarat Gas and BPCL: Adani Gas-Indian Oil combine, GAIL Gas, Gujarat Gas and BPCL are among 18 companies that have bid for licence to retail CNG to automobiles in 20 cities like North Goa and Bhatinda.

MARKETS THROUGH THE DAY:

Markets @ 9:20

The 30-share index was trading at 24,594, up 159 points or 0.65 per cent. It touched a high of 24,610.14 and a low of 24,521.59 in morning trade.

The Nifty50 was at 7,467 up 45 points or 0.60 per cent. It touched a high of 7,475.95 and a low of 7,447.85 in the first 30 minutes of trade.

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