Live: Sensex Rises up 200 Points
10:53 a.m.: Market breadth was extremely positive as 1,740 stocks were advancing while 389 stocks were declining.
10:45 a.m.: The over 8 per cent correction in Indian stock markets over the last three weeks sent the BSE Sensex crashing below the psychological 24,000 mark for the first time in 20 months. Ambit Capital expects the Sensex to fall further to 22,000 levels.
10:40 a.m.: SpiceJet shares surged as much as 13.5 per cent on Monday after the budget carrier posted its highest-ever net profit in the December quarter. SpiceJet – India’s second largest low-fare airline – reported a net profit of Rs 238 crore on sales of Rs 1,460 crore on the back of higher passenger traffic and lower Aviation Turbine Fuel (ATF) costs. (Read)
10:12 a.m.: Kotak has upgraded ITC to buy for target price of Rs 370 per share. It says cigarette volumes are stabilizing and sees good value at current levels. (Click here for more brokerage calls)
10:07 a.m.: G Chokkalingam, founder of Equinomics Research & Advisory, says stock markets have bottomed out and there are enough opportunities to make money from current levels.
10:02 a.m.: K Subramanyam, co-head equity advisory at Altamount Capital, says going into expiry action would be seen in PSU banking space on the back of short covering because banking space saw enormous shorts getting built up.
9:44 a.m.: Metal stocks were witnessing buying interest. The BSE metal index advanced 1.3 per cent; Vedanta, Tata Steel, NALCO, SAIL, NMDC, Hindalco and Hindustan Zinc were among the top gainers, up 1-2.7 per cent each.
9:25 a.m.: The Sensex rose over 150 points and Nifty moved above 7,450 on the back of rebound in crude oil prices in the international markets.
Meanwhile, buying was visible across the board. Banking, metal, auto, capital goods and healthcare indices advanced over 1 per cent each in the opening deals.
Cairn India was the top gainer in the Nifty. The stock advanced 2.84 per cent to Rs 116.05. Vedanta, HCL Technologies, Tata Steel, ONGC, ICICI Bank, Sun Pharma, State Bank of India, BHEL and Adani Ports were also among the gainers.
On the other hand, Hero MotoCorp, Bharti Airtel, ITC, Wipro and BPCL were among the losers.
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Source:Ndtv
Sensex
