Indian Stock Market News and Analysis

The market has opened in red but the Nifty has managed to hold 8500. The Sensex is down 1.70 points at 27813.48, and the Nifty is down 6.40 points at 8513.10. About 292 shares have advanced, 160 shares declined, and 27 shares are unchanged. For more updates visit www.marketmagnify.com/freetrial.php & give a missed call @ 78-79-88-11-22.

      GAIL, Bharti Airtel,L&T, HDFC Bank and Coal India are top gainers while Bajaj Auto, Wipro, Sun Pharma, ONGC and M&M are losers in the Sensex.
       The Indian rupee opened with marginal gain of 5 paise at 67 per dollar versus previous close 67.05.

      Cotton prices have risen significantly since mid April but Sachit Jain, MD of Vardhman Textiles does not see much impact on margins as yarn prices have also been rising alongside, albeit at a slower pace.

      L&T Infotech's Rs 1,243-crore IPO got oversubscribed 11.67 times on Wednesday, eliciting strong response with the number of applications crossing 1 million on the final day.

           Motilal Oswal has come out with its first quarter (April-June) earnings estimates for the technology sector. The brokerage house expects HCL Technologies to report a 2.1 percent degrowth quarter-on-quarter (growth of 5.7 percent year-on-year) in net profit at Rs 1883.9 crore.

         Global demand for oil will grow by 1.4 million barrels per day (bpd) this year to 96.1 million bpd, the IEA said in its monthly oil market report, revising up last month’s forecasts of a 1.3 million bpd rise.