Sensex stages smart recovery in late trade, ends 173 points higher
3:41 p.m. Sensex stages smart recovery in late trade, ends 173 points higher at 20,366. Nifty ends at 6,048.35, up 47.25 points
3:31 p.m.: Market closing (provisional): Sensex up 180 points at 20,374; Nifty rises 51 points to 6,052. Traders said the rally in the last one hour could be because of short-covering.
3:15 p.m. Market update: Sensex up 0.8 per cent at 20356. Tata Motors rises 3.3 per cent to Rs 388.55 and it is the highest gainer among Nifty stocks.
Shares in Bajaj Auto fell on news that Egypt's government is proposing a ban on import of motorbikes and three-wheelers, traders said. (Read: Bajaj Auto falls 4% on proposed Egypt import ban)
2:55 p.m. Ajay Bodke, head - investment strategy & advisory at Prabhudas Lilladher, says Indian markets are likely to be range-bound till the elections. The outflows from emerging markets would ease and India would be among the least impacted nations, he added.
Ajay Bodke expects Nifty is likely to trade between 6300 and 5750, he said.
2:45 p.m. IT and oil & gas stocks helped markets to extend gains, which was range-bound for most part of the session. TCS and Infosys were up over 1.5% each. Sensex up 139 points at 20333. (Track markets)
2.05 p.m. M&M reports profit of Rs 934 crore on sales of Rs 10,400 crore in Q3. Poll estimated profit of Rs 910 crore on sales of Rs 10,460 crore. Shares down over 1 per cent to Rs 887.15. (Track M&M shares)
1:45 p.m. European markets mostly flat. Indian markets turn negative: Sensex down 4 points at 20,189 while Nifty is below 6,000.
SBI down 2.6 per cent to Rs 1460 after Q3 earnings misses expectations. (Track SBI stock)
(Read: SBI profit drops 34% to Rs 2234 crore in Q3; NPAs rise)
1:25 p.m. Analysts on SBI results: Hatim Broachwala, senior research analyst at Karvy, said SBI's numbers were below expectations. The net NPA numbers are a cause of concern, he added.
Rajiv Mehta, AVP Research of IIFL, said fresh slippages of nearly Rs 11,000 crore is a concern and the numbers were above our expectations of around Rs 9,000 crore.
SBI shares down nearly 1 per cent to Rs 1,484. (Track SBI stock) Sensex up nearly 50 points at 20,242.(Track markets)
1:15 p.m. SBI Q3 net profit lower than expectations. PAT at Rs 2,234 crore vs expectations of Rs 2,540 crore. Net NPl at 3.24 per cent vs 2.91 per cent QoQ; Gross NPL AT 5.73 per cent vs 5.64 per cent QOQ
SBI shares falls 1 per cent at Rs 1,482.15 crore. (Track SBI stock)
12:15 p.m. Sensex gives up some gains after initially rising 0.4 per cent after WPI data was announced. Sensex up 0.26 per cent at 20,246. Upasna Bhardwaj, economist at ING Vysya Bank, says the RBI is most likely to keep rates steady as inflation has come down primarily due to easing food prices. The core inflation remains sticky, she adds. (Read: WPI inflation eases to 8-month low in January)
12:05 p.m. Wholesale inflation eases to 8-month low of 5.05% in January vs 6.2% in December. Sensex up 0.4 per cent at 20,268.
11:55 a.m. Market update: Sensex remains rangebound, up 47 points at 20,240, Nifty adds 11 points at 6,012. (Track markets). WPI data to be announced shortly.
11:45 a.m. SBI trades 0.4 per cent higher at Rs 1,506 ahead of Q3 results. Asset quality of SBI would be a key focus for analysts (Track SBI stock)
SBI Q3 preview: Net profit seen at Rs 2540 crore vs Rs 3,396.06 crore a year earlier. Net interest income expected at Rs 12,800 cr vs Rs 11154.46 crore a year earlier.
11:15 a.m. Markets trade with narrow gains ahead of wholesale inflation data due to be announced around noon today. January WPI inflation seen at 7-month low of 5.7%
10:30 a.m. Market update: Sensex trades with marginal gains, up 37 points at 20,231.Bharti Airtel and Idea off day's highs. Idea up 3.6 per cent at Rs 136 while Bharti Aritel adds 2.4 per cent to Rs 309
(Read: Bharti Airtel, Idea Cellular surge after 2G auction, analysts mixed)
10:04 a.m. Rupee give up some early gains, tradting at 62.33 to a dollar, off its day's high of 62.25 (Read: Rupee gives up some gains after hitting 62.25)
Market update: Nifty trading at 6004 after slipping to 5,990.80. (Track markets)
9:45 a.m. Analysts are concerned about the impact of the high bidding prices on the telecom companies. Ambareesh Baliga, managing partner at Edelweiss Global Wealth, says that he would advise investors to short telecom stocks. Telecom companies cannot expect to get higher average revenue per user by raising tariffs, he says. Besides that the competition is expected to rise as Reliance Jio is expected fray soon, he adds.
Sensex turns flat up just 7 points at 20,201, off over 100 points from its day's high of 20,313 (Track markets)
9:30 a.m. Bharti Airtel up 4.1 per cent at Rs 315 while Idea surges 5.7 per cent to Rs 139. Airtel won the crucial 900 MHz band in Mumbai, Delhi and Kolkata while Idea bagged the rights in Delhi. (Read: 2G auction results: Who won where)
Sensex up 63 points at 20,256 while Nifty adds 15 points to 6,016 (Track markets)
9:15 a.m. Markets open higher with Sensex up nearly 0.35 per cent. Bharti Airtel and Idea rise after bagging 900 MHz spectrum.
Asian shares rose on Friday while the U.S. dollar struggled to regain traction after downbeat U.S. economic data pushed it to a nearly three-week low against the euro.
MSCI's broadest index of Asia-Pacific shares outside Japan added about 0.8 percent. Japan's Nikkei stock average erased an initial bounce and pulled back 0.7 percent, as snow blanketed Tokyo and the yen pushed higher. (Read: Asian stocks rise, dollar struggles after soft US data)
