LIVE: Nifty, Sensex gain half a percent, IDFC Bank falls
BSE Sensex and NSE Nifty are likely to remain cautious on Friday ahead of Union Budget 2017.
Stocks in focus:
Reliance Communications: Moody's downgraded RCom's ratings to B1 from B2. It further warned RCom that the rating could go further down if the company fails to stem the erosion in its leverage over the next 6-9 months.
READ MORE: Credit outlook under pressure if RCom doesn't reduce debt soon: Moody's
ITC: FMCG major ITC Ltd is set to announce its third quarter ended December 31, 2016 results on Friday. A poll of 23 analysts by Bloomberg estimates the company to to post net income of Rs 2560 crore.
BSE Sensex and NSE Nifty are likely to remain cautious on Friday ahead of Union Budget 2017.
Stocks in focus:
Reliance Communications: Moody's downgraded RCom's ratings to B1 from B2. It further warned RCom that the rating could go further down if the company fails to stem the erosion in its leverage over the next 6-9 months.
READ MORE: Credit outlook under pressure if RCom doesn't reduce debt soon: Moody's
ITC: FMCG major ITC Ltd is set to announce its third quarter ended December 31, 2016 results on Friday. A poll of 23 analysts by Bloomberg estimates the company to to post net income of Rs 2560 crore.
Latest Updates
Commodity market update:
COMMODITY UPDATE pic.twitter.com/4q8j7klndn
— Zee Business (@ZeeBusiness) January 27, 2017
Top gainers so far on NSE Nifty are Axis Bank, GAIL, Power Grid Corp and NTPC.
Top losers so far on NSE Nifty are IDFC Bank, IDFC Ltd, Alembic Pharma, Hind Petro
BSE Sensex is currently trading at 27,854 points, up 150 points and NSE Nifty is up 0.09%, at 8610 points.
IDFC Bank has fallen 4.65%, at Rs 62.50 per share on BSE Sensex. This is its largest fall in a month.
STOCK REACTIONS:
Raymond falls in early trade as the company posted loss in its third quarter ended December 31, 2016 results. The company said that its Q3 net loss stood at Rs 146.9 million as against a profit of Rs 390.8 million.
Shares have fallen nearly 5%, currently trading at Rs 492 per share.
IIFL gains as its net profit for third quarter rose. The company also said that it will demerge its real estate business.
Ashok Leyland rose as the company's third quarter net profit climbed
PRE-OPEN TRADE:
BSE Sensex opened up 0.2% on Friday while NSE Nifty gained 0.1%. The markets have opened flat as expected.
FOLLOW LIVE
SMC Research said, "The market is likely to open positive following a rally in global markets taking cues from U.S. markets. The buoyant U.S. market boosted all Asian stocks across the region, equity markets in Japan got off to a positive start after the yen posted its biggest one-day drop against the dollar in a week."
RESULTS TODAY:
Colgate Palmolive, ITC, Bharat Electronics, Just Dial The India Cements, Sundaram Finance, Sun Pharma Advanced Research Company, Gujarat Alkalies and Chemicals, Avanti Feeds, Indoco Remedies and Tata Coffee.
As per provisional figures, foreign institutional investors (FIIs)/Foreign Portfolio Investors (FPIs) bought shares worth net Rs 1378.81 crores on 25th January 2017. Domestic institutional investors sold shares worth Rs 383.03 crores on that day, it said.
Sectors to watch:
SMC Research, in a note on Friday morning said that sectors to watch today will be Banking, IT and FMCG.
It said that Banking & Finance Services is likely to outperform today while IT and FMCG are likely to underperform.
FOLLOW MARKETS LIVE HERE
WATCH ZEE BUSINESS LIVE HERE