Live Stock Market; Sensex is up 74.49 Points

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• The Sensex is up 74.49 points or 0.3 percebt at 28134.43 and the Nifty is up 25.45 points or 0.3 percent at 8675.75. About 562 shares have advanced, 165 shares declined, and 26 shares are unchanged.
• Cipla, Bajaj Auto, Axis Bank, Maruti and TCS are top gainers while Wipro, Infosys, BHEL, NTPC and HDFC are losers in the Sensex.
• Crude dropped to a one-week low after a government report showed that US crude inventories unexpectedly rose last week.
• Gold prices slipped to a 4-week low as investors seemed to move from the sidelines ahead of a speech by Federal Reserve Chair Janet Yellen this weekend.
• Sebi confirms ban on 11 entities in tax evasion case. The Securities and Exchange Board of India (Sebi), via an interim order dated June 1, this year had prohibited 76 entities, including the aforesaid 11, from the securities market for suspected money laundering and tax evasion activities.

FPIs Invest Rs 3,700 cr in June, Total Hits Rs 20,600 cr in 2016

The Sensex is up 199.95 points or 0.7 percent at 27344.86, and the Nifty up 57 points or 0.7 percent at 8385.35. About 996 shares have advanced, 194 shares declined, and 45 shares are unchanged. For more information visit www.marketmagnify.com/stock-option.php

•  The market has opened on a strong note Monday with the Nifty drawing close to 8400. The 50-share index is up 52.15 points or 0.6 percent at 8380.50 and the Sensex is up 179.96 points or 0.7 percent at 27324.87. About 703 shares have advanced, 171 shares declined, and 50 shares are unchanged.
•  ONGC, Tata Motors, BHEL, Dr Reddy's and Lupin are gainers while ITC is down on the Sensex.
• The company is also looking at expanding offering in the competitive instant noodles category. ITC consolidated its presence in instant noodles category with brand Yippee, post the Maggi controversy last year.
• Foreign portfolio investors (FPIs) turned net buyers of equities in March after pulling out a massive Rs 41,661 crore from the market in the previous four months (November-February). 
• Cabinet note for consultation on listing of four PSU general insurance companies will be issues in the next few weeks," sources said.
• ICICI Bank is of the view that branch expansion will continue, although their nature of branches are yet to evolve.
  

Live Stock Market News

The market erased its early gains on the back of profit booking after rising consistently for five consecutive sessions. The Sensex fell 70.32 points to 26655.28 and the Nifty slipped 21 points to 8157.50. For more information www.marketmagnify.com/stock-cash-tips.php

The broader markets also turned lower with the BSE Midcap and Smallcap indices falling 0.3-0.5 percent. 

     The market breadth was weak too as about two shares declined for every share rising on the Bombay Stock Exchange.
    Sun Pharma extended losses in morning trade, down 5 percent after its Q4 earnings fell short of expectations.
     Infosys, L&T, ICICI Bank, Bharti Airtel, Adani Ports, GAIL and Coal India declined 1-2 percent while Lupin, Maruti Suzuki and NTPC outperformed, up over a percent.
     Tata Motors jumped 7 percent on solid earnings performance in Q4.
     Sun Pharma 's net profit was Rs 1,713.7 crore in the fourth quarter of FY16, below CNBC-TV18's poll estimate of Rs 1,888.4 crore.

       Tata Motors today posted three-fold rise in its consolidated net profit at Rs 5,177.06 crore for the fourth quarter ended March 31, driven by strong performance of its British arm JLR and robust volume growth of its heavy and medium commercial vehicles.

Today's Stocks In News

Share prices of Ujaas Energy rose 16 percent intraday Monday on the back of strong fourth quarter numbers declared by the company. For more information visit www.marketmagnify.com/stock-cash-power.php

The company's Q4 net profit was up 76.9 percent at Rs 13.8 crore versus Rs 7.8 crore, in the same quarter last fiscal.

           The total income of the company has increased by 234 percent at Rs 167 crore versus Rs 50 crore. The EBITDA was up at Rs 30 crore versus Rs 15.9 crore, while EBITDA margin was down 1380 bps at 18 percent versus 31.8 percent.

         The company has approved the fund raising through FPO/ADR/GDR/QIP in its meeting held on May 21, 2016.
Equity benchmarks rebounded sharply on Monday morning with the Sensex rising 180.90 points to 25482.80. 

     The Nifty reclaimed 7800 level, up 64.25 points or 0.83 percent at 7813.95.

       ITC topped buying list on Sensex, up more than 6 percent after brokerages turned upbeat on the stock post quarterly earnings. Citi has upgraded the stock to buy from neutral and raised target price to Rs 390 from Rs 335.

          Tata Power gained 1.5 percent ahead of March quarter earnings. Adani Ports, ICICI Bank, HUL, SBI, Hindalco and Aurobindo Pharma were other early gainers while HDFC, Lupin, NTPC and GAIL were losers.

       The Indian rupee gained in the early trade today. It has opened higher by 14 paise at 67.30 per dollar against 67.44 Friday.