NEW DELHI: Indian headline indices Sensex and Nifty looked up for fifth consecutive session on Monday, driven by select heavyweights such as Reliance Industries, Infosys and Kotak Mahindra Bank.
Optimism stemming from Q3 earnings of blue chips, including RIL and HDFC Bank, and positive global cues created positive vibes.
World markets did not disappoint as investors felt that China will come out with more stimulus measures to revive its economy.
The world's second biggest economy grew 6.4 per cent in fourth quarter from a year earlier, matching levels last seen in early 2009 during global financial crisis, Reuters reported.
Monday's trade remained stock-specific as out of a total 31 stocks, including Tata Motors DVR in Sensex index, only 11 posted gains and 20 suffered losses.
However, gains in likes of RIL (up 4.36 per cent), Kotak Bank (up 2.42 per cent), Infosys (up 1.61 per cent) and HDFC Bank (up 0.72 per cent) gave Sensex a lift of 192 points, or 0.53 per cent, to 36,578.96.The Nifty closed higher by 55 points, or 0.50 per cent, at 10,962, with 17 stocks up and 33 down.Midcaps and smallcaps, however, failed to perform big today as indices closed with a loss of 0.56 per cent and 0.70 per cent, respectively.We walk you through highlights of Monday's session:RIL m-cap surges Shares of Reliance Industries extended their gains to second consecutive session today.
In two-day rally, stock has jumped almost 9 per cent while its market capitalisation rose by Rs 63,862 crore to Rs 7,82,505.28 crore on Monday, from Rs 7,18,643.5 crore last Thursday.
The scrip closed 4.36 per cent up at Rs 1,234.50 on BSE.
Positive comments from top brokerages, following a strong December quarter earnings, have sparked strong buying in stock.Kotak Bank's Q3 in lineShares of Kotak Mahindra Bank settled 2.42 per cent up at Rs 1,267.30 after private lender reported a 23 per cent year-on-year (YoY) jump in standalone profit at Rs 1,291 crore for December quarter, slightly better than Rs 1,273 crore anticipated by analysts in an ETNow poll.
The bank reported a healthy growth in net interest income (NII) while gross non-performing assets (GNPAs) eased on a sequential as well as yearly basis.
HDFC Bank hits a sweet spotDomestic as well as global brokerages maintained their bullish view on HDFC Bank after it posted 20 per cent growth in net profit for third quarter ended December.
CLSA maintained Buy on HDFC Bank with a target price of Rs 2,730.
JPMorgan has an Overweight call on HDFC Bank with a price target of Rs 2,400.
Edelweiss also maintained Buy on HDFC Bank with a revised target price of Rs 2,530 from Rs 2,454.
Shares of company closed 0.72 per cent up at Rs 2,146.55.Hudco surges 6% Shares of Housing and Urban Development Corporation (Hudco) surged 5.59 per cent to Rs 45.35 after it reported strong set of December quarter numbers.
The company's net profit jumped 27 per cent to Rs 328 crore in third quarter against Rs 259 crore in same quarter last fiscal.
Revenue jumped 21.9 per cent at Rs 1,310.5 crore on a year-on-year basis.LIC wraps up IDBI Bank buy In a BSE filing, IDBI Bank said LIC has completed acquisition of 51 per cent controlling stake in bank, making it lender's majority shareholder.
The Cabinet had approved acquisition of controlling stake by LIC as a promoter in IDBI Bank through a combination of preferential allotment and open offer of equity in August last year.
However, report failed to lift shares of IDBI Bank as scrip closed 3.17 per cent down at Rs 56.50 on BSE, extending losses to third successive session.Wipro slips 2%Shares of Wipro closed 2.51 per cent down at Rs 337.50 as company lowered margin guidance for its IT services business in range of $2,047 million to $2,088 million for March quarter, which translates into a flat 2 per cent sequential growth.
Citi has advised that one should adopt a 's ell into strength' approach on stock.
Global brokerage CLSA has also retained sell rating given lack of convincing acceleration in growth.
LT shares wilt Shares of Larsen Toubro closed in red after market regulator Sebi turned down its Rs 9,000 crore share buyback offer.
The scrip closed 0.31 per cent down at Rs 1,314.20.
In a regulatory filing to stock exchanges on Saturday, LT said Securities and Exchange Board of India (Sebi) has asked it not to proceed with proposed buyback of up to 6.1 crore shares at a price of Rs 1,475 per share, aggregating Rs 9,000 crore.Hindustan Zinc shares slide Shares of Hindustan zinc closed 1.56 per cent down at Rs 268.15 after it reported a nearly 4 per cent fall in its net profit on a yearly basis.
Net profit declined nearly 4 per cent to Rs 2,211 crore against Rs 2,298 crore a year ago.
Energy pack wins bigWith a gain of 2.68 per cent, BSE Energy index led pack of sectoral gainers.
However, only seven out of total 27 components of index managed to log gains.
Nevertheless, index jumped, thanks to gains in heavyweight Reliance Industries.
On other hand, BSE Realty index fell 1.22 per cent, leading pack of sectoral losers.
Losses in shares of Indiabulls Real Estate (down 5.12 per cent), Prestige Estates Projects (down 2.98 per cent) and DLF (down 1.69 per cent) dragged index most.
Only three stocks - Mahindra Lifespace Developers (up 2.30 per cent), Sobha (up 0.58 per cent) and Phoenix Mills (up 0.21 per cent) - out of total 10 managed to settle in green.151 stocks with bearish slantMomentum indicator moving average convergence divergence, or MACD, showed bearish crossovers on 151 counters on BSE, indicating that these stocks may fall or extend their fall in coming sessions.
Among stocks with bearish crossovers were South Indian Bank, Punjab National Bank, Reliance Capital, DLF, MCX, UPL and HEG.
However, Hindalco, United Breweries, Future Lifestyle, Mahindra Logistics and Trent featured among 56 stocks that showed bullish crossovers on MACD charts.Power Grid, Tata Power above 200-DMAsPower Grid, Max Financial, Delta Corp, Allahabad Bank, Corporation Bank, Tata Power and Gujarat State Petronet featured among stocks that traded below their 200-DMAs.
However, NIIT, FCS Software, Bal Pharma and INOX Leisure settled among stocks that traded above their 200-DMAs.