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Sensex volatile; ONGC surges 3%, Infosys holds gains

ONGC gained 3 percent and Oil India surged 4.6 percent. The government may exempt ONGC and Oil India from fuel subsidy for rest of FY15, reports media quoting unnamed sources.

14:00

The News International Team

It has been a disappointing day for the bulls. The index started off with a bang then gave up its gains through the trading session. The Nifty came off 90 points from the day’s high while the market breadth is weak at 1:2 in favor of declines.

The Sensex rose 38.72 points to 27313.43 and the Nifty advanced 10.40 points to 8245. About 1219 shares have advanced, 1557 shares declined, and 408 shares are unchanged on the Bombay Stock Exchange.

Infosys rallied 4 percent after reporting a good set of numbers. Dollar revenues grew 0.8 percent in Q3 Q-o-Q, in line with estimates while margins beat estimates rising 65 basis points QoQ to 26.7 percent. Also company maintained FY15 dollar revenue growth guidance of 7-9 percent and reported volume growth of 4.2 percent Q-o-Q, the highest in last three years.

ONGC gained 3 percent and Oil India surged 4.6 percent. The government may exempt ONGC and Oil India from fuel subsidy for rest of FY15, reports media quoting unnamed sources.

Sunil Singhania of Reliance Mutual Fund told CNBC-TV18 that interest in India continued to remain high. According to him, any corrections in near term will be short and swift. He advises using every correction to buy the dip.

Global cues are mixed today. While Asian markets like Hong Kong and Korea ended in the green, European markets are flat with a negative bias while Brent crude headed for seventh weekly loss as supply glut drags, down marginally to below USD 51 a barrel.

All eyes are on the US jobs data for December that will be released later today. Economists forecast a gain of 240,000 jobs last month and unemployment rate is expected to fall from 5.8 percent to 5.7 percent.

13:00

Sensex, Nifty flat; Infosys surges 5% post Q3 results

HUL, Dr Reddy’s Labs, Cipla and Tata Motors are gainers in the Sensex. Among the losers are NTPC, Bajaj Auto, Axis Bank, Bharti and ITC.

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12:00

Live Updates: Infosys up 3% on Q3 earnings; Sensex, Nifty in greenRead More »

Tata Steel gained 1.5 percent after Moody’s upgraded the company’s ratings to Ba1 with a stable outlook on expectations that Tata Steel UK Holdings will drag less on the group’s performance.

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11:00

Nifty still below 8300; Bajaj Auto, ITC, GAIL laggardsRead More »

HUL, Cipla, Dr Reddy’s Labs, Tata Motors and Sun Pharma are top gainers in the Sensex. Among the losers are NTPC, Bajaj Auto, GAIL, ITC and Axis Bank.

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10:00

Sensex, Nifty maintain uptrend; Infosys Q3 nos eyed, HUL upRead More »

Infosys remained volatile ahead of third quarter earnings in afternoon. Software services exporter is expected to report a 1.9 percent sequential growth in profit at Rs 3,157 crore for the quarter ended December 2014.

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09:15

Nifty hits 8300, Sensex firm; Tata Steel, ONGC gain 1-2%Read More »

Tata Steel, Tata Motors, ONGC,Tata Power and HDFC Bank are top gainers in the Sensex.

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