Nifty breaks 7500, Sensex falls 150 pts; HDFC, ITC, Wipro down

The market extended sell-off in morning trade with the Nifty breaking 7500 level, weighed down by HDFC group, pharma, FMCG, technology and metal stocks.

The 30-share BSE Sensex declined 146.07 points to 24658.21 and the 50-share NSE Nifty slipped 47.60 points to 7491.15.

Lupin remained top loser on Sensex, down more than 5 percent on Goa facility inspection by US health regulator.

HDFC, ITC, Sun Pharma, Wipro, Cipla, ONGC and GAIL were down 1-2 percent while SBI, ICICI Bank, L&T and Axis Bank gained 0.5-1 percent.

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Epic Research Update : F&O cues

Nifty 7300 Call shed 2.4 lakh shares in Open Interest on February 3

Nifty 7400 Call shed 1.6 lakh shares in Open Interest

Nifty 7000 Put added 4.3 lakh shares in Open Interest

Nifty 7100 Put added 4 lakh shares in Open Interest

Nifty 7200 Put added 9.7 lakh shares in Open Interest

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Nifty holds 7400, Sensex strong; ONGC gains 2%, L&T jumps 4

Bulls continued to keep tight control over Dalal Street for third day in a row. Healthcare, technology, infra, metals, HDFC group and select auto stocks supported while select banks were under pressure.

The 30-share BSE Sensex rose 226.67 points or 0.93 percent to 24469.65 and the 50-share NSE Nifty climbed 62.25 points or 0.84 percent to 7431.10. The market breadth too remained positive as about 1366 shares advanced against 918 declining shares on the BSE.

ONGC gained nearly 2 percent and Reliance Industries rose almost a percent after a media report suggested that the government is planning to raise natural gas price by about 60 percent for their undeveloped gas discoveries in difficult areas.

Tata Motors extended rally to 5 percent on February sales data. Jaguar Land Rover sales increased 25.3 percent year-on-year to 7,929 units in February, majorly supported by Land Rover that grew by 30.5 percent to 6,417 units.

L&T, Adani Ports, Dr Reddy’s Labs, Tata Steel, Bharti Airtel, ONGC, Hindalco Industries and BHEL rallied 2-5 percent while ICICI Bank fell1 percent.

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Epic Research Update : Asian Markets

Asian shares were trying to string together three sessions of gains on Thursday as upbeat data on US jobs and gains for a range of commodities whetted risk appetites globally.

MSCI’s broadest index of Asia-Pacific shares outside Japan added another 0.4 percent to reach a seven-week top, having surged 2.6 percent on Wednesday.

“China has huge potential to roil markets as the nation navigates a difficult structural transition,” he said. “Asian trade, traditionally a bellwether for global growth, is in recession.”

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Sensex spikes 700 pts, Nifty reclaims 7200; ITC shares rally 10%

Bulls have complete control over Dalal Street today as the Sensex shot up 702.96 points or 3.06 percent to 23704.96. The Nifty reclaimed 7200-mark, up 213.95 points or 3.06 percent to 7201.

About 1846 shares advanced against 574 declining shares on the BSE.

ITC rallied 10 percent as analysts say hike in excise duty on cigarettes is on expected lines.

Shares of ICICI Bank, Infosys, TCS, L&T, Tata Motors, Maruti, Axis Bank, Hero Motocorp, M&M, Adani Ports and Wipro gained 3-7 percent.

ONGC fell 2.5 percent as CLSA downgraded the stock to sell post Union Budget.

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