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Nifty hovers around 8500; Coal India, LT, Sesa gainers

Jan 16, 2015, 01.30 PM IST | Source: Moneycontrol.com

Coal India, L&T, Sesa Sterlite, M&M and BHEL are top gainers in the Sensex while Bharti Airtel, SBI, Tata Motors, Hero Motocorp and TCS are among the laggards.

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Nifty hovers around 8500; Coal India, L&T, Sesa gainers

Coal India, L&T, Sesa Sterlite, M&M and BHEL are top gainers in the Sensex while Bharti Airtel, SBI, Tata Motors, Hero Motocorp and TCS are among the laggards.

13:24

The News International Team

1:30 pm Result poll: With results for Infosys and TCS out of the way, all eyes will be on the country’s third-largest IT services exporter Wipro when it reports quarterly earnings Friday. A CNBC-TV18 poll of analysts forecasts the firm’s dollar revenues to grow 0.76 percent to USD 1785 million while revenue in rupee terms may rise 1.35 percent to Rs 11,070 crore. Operating profits are seen at Rs 2,431 crore while EBIT margin is seen unchanged at 22 percent. Analysts will also likely watch out for guidance the company gives for the fourth quarter, likely to come in at 1-3 percent or 2-4 percent – crucial because weakness in Wipro’s strongest vertical, energy (17 percent of revenues) may bog down revenue growth.

Don’t miss: TCS falls 2%: Why are analysts still bullish post mute Q3?

The market is still flat as the Sensex is up 48.25 points at 28123.80. The Nifty is up 13.90 points at 8508.05. About 1361 shares have advanced, 1341 shares declined, and 313 shares are unchanged.

Coal India, L&T, Sesa Sterlite, M&M and BHEL are top gainers in the Sensex while Bharti Airtel, SBI, Tata Motors, Hero Motocorp and TCS are among the laggards.

Brent futures edged higher holding above USD 48 a barrel on positive technical price momentum, although few analysts expect a strong rebound anytime soon as global output continues to outweigh demand.

Still, crude markets may be bottoming out, analysts said, as prices were receiving support around current levels.

Despite the slight price gains, oil opened up into a wobbly market after Switzerland jolted markets already roiled by plunging commodities prices by abandoning its currency cap on Thursday.

12:00

Sensex, Nifty consolidate; Axis firm, Wipro & RIL in focus

Axis Bank came off the day’s high after delivering an in-line set of earnings for the thrid quarter. Net profit grew by 18.5 percent year-on-year to Rs 1,900 crore and net interest income climbed 20.3 percent to Rs 3,589 crore. Asset quality remained stable.

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11:00

Bulls take breather: Sensex, Nifty flat; SBI slips 2%Read More »

HDFC Bank, HUL, Sesa Sterlite, Caol India and Cipla are top gainers while Bharti, TCS, Tata Motors, SBI and Hero are among laggards.

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10:00

Sensex holds 28000 amid pressure; Sun TV, SpiceJet in focusRead More »

Shares of SpiceJet jumped 10 percent as investors queued up for buying shares of the low-cost carrier after Ajay Singh decided to take complete control of the company which has been struggling with financial problems. Sun TV Network gained 9 percent as brokerages believe the SpiceJet deal removed a major overhang on the stock.

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09:15

Sensex, Nifty in red; TCS drags 2%, HUL gains 1%Read More »

HDFC, HUL, Axis Bank, Sesa and Cipla are top gainers in the Sensex while GAIL, Maruti, Tata Steel, BHEL and HDFC are losers.

Read More »

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