Sensex Gains 50 Points; Tech Mahindra, HCL Tech Top Gainers, SBI Weak

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Britannia Industries, Sun Pharma, UPL, Bandhan Bank and Indian Oil will declare their Q1 numbers

The domestic stock markets had a gap-down opening on the back of negative cues from the Asian front. As of 9:20 am, the BSE Sensex is trading at 52,699, higher by 48 points and the NSE Nifty is at 15,787, up nine points. The broader markets are trading mixed, with the BSE Midcap index edging lower and the BSE Smallcap index gaining 0.3 per cent.

Markets in Asia-Pacific were mostly lower in early trading on Friday. Japan’s Nikkei 225 dipped 1.2 per cent in early trading and Topix lost 0.81 per cent.

U.S. shares bounded to record highs on Thursday, helped by strong company earnings and solid economic growth data, though the Federal Reserve’s message earlier this week that it is in no hurry to taper stimulus pinned the dollar at a one-month low.

The volley of positive news boosted the Dow Jones to a record high of 35,171.52 points before closing higher by 0.4 per cent. The S&P 500 also jumped to an all-time high of 4,429.97 points before ending up 0.4 per cent, while the Nasdaq Composite added 0.3 per cent.

On the earnings front, Britannia Industries, Sun Pharma, UPL, Bandhan Bank, Indian Oil Corporation and Aditya Birla Fashion will declare their Q1 numbers during the day.

In the primary market, Rolex Rings IPO will close for bidding at 5pm today. The pubblic issue was subscribed 9.26 times on July 29, the second day of opening.

On Thursday, the BSE Sensex had recovered from intra-day lows to climb 209.36 points at 52,653.07 and the Nifty rose 69.10 points to 15,778.50.

On the stock-specific front, Tech Mahindra zoomed by 8.4 per cent to Rs 1,223 to top the gainers list post its June quarter numbers. The IT services provider posted a 39 per cent rise in net profit to Rs 1,353 crore in the first quarter. Among other IT stocks, HCL Tech rose 2.7 per cent on the BSE. HDFC, Dr Reddy’s and M&M are the other significant gainers in the BSE pack.

On the other hand, Bajaj Finserfv, SBI and Bharti Airtel have shed around a per cent each on the BSE.
 



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