Market Live: Sensex, Nifty flat in opening; M&M, Tata Motors, TCS early gainers

Equity benchmarks opened flat with moderate gains as investors cautiously awaited Goods & Services Tax that is expected to be implemented from July 1. The 30-share BSE Sensex was up 65.58 points at 31,356.32 and the 50-share NSE Nifty rose 12.25 points to 9,642.25. TCS, Mahindra & Mahindra, Bharti Airtel, Lupin, Dr Reddy's Labs, Kotak Mahindra Bank and GAIL were early gainers while Tata Steel, Wipro, ITC, Hero Motocorp and HCL Technologies were under pressure. About two shares advanced for every share falling on the BSE. Shriram EPC rallied 10 percent on orders worth Rs 165 crore under water management business. Reliance Defence, HUDCO, Wockhardt, Manappuram Finance, Indiabulls Real, Himatsingka Seide and Amtek Auto gained 1-5 percent while Fortis Healthcare and Electrosteel Steels and Lanco Infratech fell 4-6 percent.


Market View: Nifty saw support around yesterday's low of 9608 which will now act as downside support while 9700 will act as strong resistance on the upside. Bank Nifty also finds support around 23600 while 23850 will act a strong resistance on the upside. Globally markets are witnessing consolidation as liquidity chases stocks while macro's remain subdued. Asian indices traded in the green on opening bell after yesterday's weak close. SGX Niftyup by 13 point to 9675 level. (Updated 9:00 AM).
Buzzing StocksGTPL Hathway IPO subscribed by 0.27x times (updated at 9:00 AM). Retail portion subscribed at 0.14x times; QIB at 0.69 times. Price band at Rs 167-170/share. Federal Bank to raise Rs 2,500 Cr via QIP; sets floor price at Rs 117.04/sh. RBI lifts restriction on FII buying inIDFC. Sun Pharma gets shareholders' approval to merge 4 arms with self.

Market Live: Nifty struggles below 9650; L&T gains, Tata Motors sees profit booking

Equity benchmarks continued to reel under selling pressure, with the Nifty struggling below 9650 level on correction in banking & financials, auto and metal stocks. The 30-share BSE Sensex was down 57.71 points at 31,239.82 and the 50-share NSE Nifty fell 30.15 points to 9,623.35. L&T gained over a percent  that the government sold its stake in the company for Rs 4,000 crore. Reliance Industries continued to support the market, up 0.64 percent while HDFC, Tata Motors, ONGC, Lupin, TCS, HDFC Bank and ICICI Bank were under pressure. 9:54 am IPO: The initial public offer of Eris Lifesciences was oversubscribed 3.29 times on the last day. The IPO, looking to raise Rs 1,741 crore, received bids for 5,25,02,424 shares against the total issue size of 1,59,48,750 shares, data available with the NSE till 1930 hours showed.

Live Stock Market Updates – Nifty tests 9700, Sensex above 31300, Oil stocks rise

Benchmark indices continued to trade higher amid consolidation in morning trade. The 30-share BSE Sensex was up 47.64 points at 31,359.21 and the 50-share NSE Nifty rose 10.50 points to 9,668.05. ICICI Bank recouped opening losses, to trade higher with nearly a percent gains after the stock price adjusted for bonus shares issue. The country's largest private sector lender, on May 3, announced issue of bonus shares in the ratio of 1:10 i.e one equity share of Rs 2 each for every ten fully paid-up equity shares held (including ADS holders) as on the record date. The record date for issue of bonus shares is fixed as June 21.

Bank Nifty trades positive in line with Nifty and Sensex

Bank Nifty opened higher by 69 points at 23,571 during Monday morning trading session. Nifty and Sensex also witnessed gap-up opening in the Monday’s trade. Nifty opened at 9,626 level higher by 38 points and Sensex opened 112 higher by 31,168 level.

Federal Bank, IndusInd Bank, Kotak Bank and HDFC Bank are trading near their 52-week highs. IndusInd Bank is the top gainer in the index trading higher by 0.8% at Rs 1,511.25 per share.

Nifty PSU Bank and Nifty Private Bank are trading higher by around 0.42%. In line with the major indices, all the PSU and private bank stocks are trading in the positive territory.

Opening Bell – Markets open higher, Nifty nears 9600

The BSE Sensex opened higher by 85 points at 31160, while the Nifty50 opened higher by 17 points at 9595 mark.

Aurobindo Pharma is the top Nifty gainer and Ultratech Cement is the top Nifty loser in the morning hours. 

There are 1024 advances, 403 declines and 473 unchanged stocks on NSE reflecting some positive bias floating in the market.

Nifty50 index has immediate support placed around the level of 9,550 and if it holds below this level, further correction up to the level of 9,520 is likely. On the upside, Nifty50 may face resistance around the levels of 9,640-9,650.

Market Live: Sensex, Nifty flat in opening after investors digest Fed rate hike

Equity benchmarks started off trade on a flat note again, as investors digested 25 basis points rate hike by Federal Reserve in its latest policy meeting. The 30-share BSE Sensex was up 18.21 points at 31,174.12 and the 50-share NSE Nifty fell 7.65 points to 9,610.50. Reliance Industries extended gains, up 0.75 percent on top of 3 percent rally in previous session. Adani Ports, ITC, Bharti Airtel, Tata Motors, Hero Motocorp and ONGC were others gainers while TCS, L&T, ICICI Bank, Infosys and HDFC were under pressure. In midcap space, City Union Bank, PNB, IDBI Bank, Bhushan Steel, Balaji Telefilms and Prism Cement were down over a percent while Ginni Filaments surged nearly 12 percent. Emkay Global was up 5% and SPARC gained 4 percent. Shipping Corporation of India rallied 12 percent on stake sale buzz.