Sensex, Nifty flat in opening amid better Q4 GDP data; ICICI Bank zooms

The market consolidates as investors digested better-than-expected March quarter GDP data which shows that India is the fastest growing economy.

The Nifty50 is trading in a narrow range around its previous closing levels but the Midcap index underperformed frontliners again, falling third of a percent.

Bajaj Auto gained 2 percent after the company registered 30 percent growth year-on-year in May sales data.

Nifty Bank slipped around half a percent but ICICI Bank stands toll among banking space, rising nearly 4 percent.

Asian markets are mixed with investors cautious over trade tensions after the US announced tariffs on steel and aluminium imports, reports CNBC.

Reference By- https://www.moneycontrol.com/news/business/markets/market-live-sensex-nifty-flat-in-opening-amid-better-q4-gdp-data-icici-bank-zooms-2580369.html

Sensex, Nifty consolidate after 3-day rally; weaker rupee lifts IT stocks

Buzzing: Share price of Housing & Urban Development Corporation (HUDCO) rose 5 percent as company recovered a substantial amount of Rs 317 crore in an old loan default case.

This is to inform you that, an old default case of a borrower has been substantially resolved after prolonged litigation, where HUDCO has received an amount of Rs 317 crore, against the dues of Rs 469.38 crore as on March 31, 2018, company said in release.

The meeting of board of directors of the company is proposed to be held on May 30, 2018 to consider, approve and take on record the audited financial statements (standalone and consolidated) for quarter & year ended March 31, 2018.

Reference By- https://www.moneycontrol.com/news/business/markets/market-live-sensex-nifty-consolidate-after-3-day-rally-weaker-rupee-lifts-it-stocks-2577607.html

Closing Bell: Sensex up over 300 pts, midcaps underperform; IT zooms, ONGC dips

Benchmark indices rose, driven by IT stocks, such as, Infosys and TCS on the back of a weak rupee. The IT index has gained 18 percent so far this year. The rupee has weakened by more than 7 percent so far this year, as surging crude oil prices weigh on India, the world’s third-largest importer, raising fears that soaring costs could drive up inflation and widen the trade deficit.

Meanwhile, ONGC ended the day 4 percent lower after falling 10 percent in intraday trade after the media reports suggested that the government may ask the company to share the burden to reduce fuel price.

We continue to be positive on the overall market and recommend buying stocks in the private banks, consumption space where earnings momentum are strong. Some of the stocks which we like are Godrej Agrovet, Bajaj Finance, Kotak Bank and Relaxo Footwear.

Reference By- https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-up-over-300-pts-midcaps-underperform-it-zooms-ongc-dips-2574767.html

Market Live: Sensex up 150 pts, Nifty above 10,550; TCS hits Rs 7 lakh cr in market cap

Benchmark indices extended opening gains, with the Sensex rising 146.50 points to 34,809.61 and the Nifty gaining 41.50 points at 10,555.40.

About two shares advanced for every share rising on the BSE.

TCS became the most valued listed company in India, crossing the market cap of Rs 7 lakh crore.

The Railways Strategic Business Group of L&T Construction’s Transportation Infrastructure business has won a major design & build order from the Dhaka Mass Transit Company Ltd. (DMTC) worth Rs 3191 crore for Electrical & Mechanical Systems Package of Dhaka Mass Rapid Transit Development Project (MRT – Line 6).

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Sensex off opening high; Tata Motors hits fresh 52-week low

The market traded higher after yesterday's sharp fall, with the Sensex rising around 100 points despite mixed trend in Asian peers.

The Nifty Midcap underperformed frontliners while IT index outperformed every indices, rising more than 1.5 percent on sharp depreciation in the rupee yesterday.

The rupee recouped some of previous day's losses, trading 12 paise higher at 68.30 a dollar. Yesterday, it had corrected 38 paise to close at 68.42 a dollar.

The 30-share BSE Sensex gained 114.95 points at 34,459.86 and the 50-share NSE Nifty rose 23.70 points to 10,454.10.

About 985 shares advanced against 542 declining shares on the BSE.

Referance By- https://www.moneycontrol.com/news/business/markets/market-live-sensex-off-opening-highs-tata-motors-hits-fresh-52-week-low-2574767.html

Sensex, Nifty under pressure on global weakness; SBI, Cipla zoom 5%

Benchmark indices continued to consolidate further amid global weakness, but the Nifty Midcap

index outperformed, rising third of a percent on positive market breadth.

The 30-share BSE Sensex slipped 46.14 points to 34,605.10 and the 50-share NSE Nifty dropped 22.50 points to 10,514.20. About three shares declined for every two shares declining on the BSE.

State Bank of India gained 5 percent as brokerage houses remained positive on the stock, though they cut target price following quarterly loss of Rs 7,718 crore.

Cipla rallied 5 percent as analysts maintained positive stance, though they slash target price post earnings.

Vedanta lost 3 percent as protests seeking closure of copper smelter run by Vedanta Resources at Thoothukudi turned violent, killing 12 people.

Asian markets are under pressure after US President Donald Trump's dissatisifed with the latest round of trade talks with China.

Referance- https://www.moneycontrol.com/news/business/markets/market-live-sensex-nifty-under-pressure-on-global-weakness-sbi-cipla-zoom-5-2573851.html