Sensex Gains 440, Nifty Nears 8750 as Banks, Autos Zoom; Bharti Airtel Slips 3%

Closing Bell

The S&P BSE Sensex gained 1.6 percent to 28,343; while the Nifty also climbed 1.6 percent to 8,744, most since July 11.

The market breadth was encouraging at 1,009 advances, 576 declines and 270 stocks remaining unchanged. Barring the S&P BSE Telecom index, all other 18 sectoral gauges advanced on the exchange.

Closing Bell

The S&P BSE Sensex gained 1.6 percent to 28,343; while the Nifty also climbed 1.6 percent to 8,744, most since July 11.

The market breadth was encouraging at 1,009 advances, 576 declines and 270 stocks remaining unchanged. Barring the S&P BSE Telecom index, all other 18 sectoral gauges advanced on the exchange.

HT Media Soars 20% After Block Deal

Shares of the media firm rose as much as 19.7 percent to Rs 93, biggest gain since May 2009 after about 3.62 million shares changed hands on the NSE, according to Bloomberg data.

The stock is the best performer on the S&P BSE 500 index.

Europe Stocks Rebound From Drop, Poised for 2nd Monthly Gain

Europe Stocks Rebound From Drop, Poised for 2nd Monthly Gain

European stocks climbed, extending a monthly advance, as a weaker euro boosted exporters. All industry groups advanced except commodity producers. (More details HERE)

Bonds Gain as Government Readies to Sell New 10-Year Debt

Indian bonds advanced amid speculation that the government’s planned issuance of a new benchmark 10-year security will boost demand for the nation’s debt, writes Nupur Acharya of Bloomberg News.

Also Read: Ashoka Buildcon, Ramky Infra Gain After Bagging Rs 1,646 Crore Road Projects in Jharkhand

Opening Bell

Indian shares extended their gains following a rally in U.S. equities as investors focus on evidence of strength in the world’s largest economy and assess the outlook for global monetary policy.

The S&P BSE Sensex climbed 0.5 percent to 28,051; while the NSE Nifty advanced 0.5 percent as well to 8,653. All 19 sectoral gauges were trading higher, led by the oil & gas benchmark on the BSE.

The market breadth was firmly skewed in favour of the bulls with 968 advances, 228 declines and 41 stocks remaining unchanged on the BSE.

Stocks Radar: Coal India, Zee Entertainment, eClerx, Airtel and More

Stocks to Watch

• Wipro: Partners with Stibo Systems to offer Master Data Management (MDM) solutions
  
• TD Power: Wins order for 45 rail application generators
  
• Zee Entertainment: Says is in advanced talked for the sale of sports business with potential buyer(s).
  
• Bharti Airtel: Slashes Internet data charges under special scheme
  
• Centrum Capital: Says in stategic tie-up with Qatar’s Doha Bank but denies talks of stake sale
  
• Wockhardt: To issue NCDs upto Rs 1,200 crore on private placement basis, via one or more tranches
  
• Aditya Birla Nuvo: To exit low margin businesses in India; to sell its fertiliser business (Business Standard)

For a complete list of stocks to watch, click HERE

Earnings Reaction to Watch

• Ashoka Buildcon: Q1 net declines 33 percent YoY to Rs 30.82 crore
  
• eClerx Services: To offer up to Rs 2,200 per share for buyback; Q1 net rises 27 percent YoY to Rs 95.92 crore
  
• Gujarat Mineral: Q1 net Rs 115 crore versus Rs 72.23 crore
  
• MOIL: Q1 net Rs 47.15 crore versus Rs 89.88 crore
  
• Rashtriya Chemicals: Q1 net declines 65 percent YoY to Rs 19.59 crore

Earnings to Watch

• Cox & Kings
  
• Crompton Greaves
  
• Indraprastha Medical Corporation
  
• Whirlpoo

DLF profit doubles on sale of DT Cinemas, but misses street estimate https://t.co/HnSADxXM2n pic.twitter.com/jQDS0eKRPQ

— BloombergQuint (@BloombergQuint) August 30, 2016

Talking Points

• Qualcomm looking at opportunities from digital India: Executive Chairman
  
• Indian Oil says consultant studying Farzad-B gas sale options
  
• Government defers mega spectrum auction by 2 days to October 1
  
• India plans to sell Rs 8,000 crore of new 10-year bonds
  
• Uralkali signs deal to sell 650,000 tonne of potash to India
  
• Global funds buy Rs 287 crore of local stocks; domestic funds buy Rs 17.49 crore on August 29: Provisional data

Also Read: Debt-Fueled Phone Wars May Blow $74 Billion Hole in India Wallet

#UrjitPatel and the 5% target@alexandermats reportshttps://t.co/1NMNdI6q0v

— BloombergQuint (@BloombergQuint) August 30, 2016

Good Morning!

The Nifty Futures on the Singapore Exchange, an early indicator of Nifty performance in India, climbed 0.3 percent to 8,680.

American equities snapped a three-day decline Monday, after a report showed consumer spending in the U.S. rose for a fourth straight month in July, bolstered by stronger income gains.

U.S. stocks rally as oil near $47. Asia opens on a quiet notehttps://t.co/xFuybuS7nr pic.twitter.com/0FatjqSLtx

— BloombergQuint (@BloombergQuint) August 30, 2016

The strong data followed disappointing retail sales and sluggish economic growth figures.

Monthly jobs data on Friday may provide more clues as to whether American policy makers have room to boost interest rates after Federal Reserve Chair Janet Yellen said the case for a hike is getting stronger.

Asian stocks rose this morning, from a three-week low, following gains in U.S. shares as investors focus on evidence of strength in the world’s largest economy and assess the outlook for global monetary policy.

South Korea’s won strengthened as crude oil advanced with copper.

Here's your Tuesday morning briefing https://t.co/xFuybuAvYR pic.twitter.com/H1VsjZp3t8

— BloombergQuint (@BloombergQuint) August 30, 2016