Today's Intraday Market Overview; Sensex closed up 481.16 points

The Nifty has ended at highest level since January. The 50-share index was up 141.50 points or 1.8 percent at 7850.45. The Sensex closed up 481.16 points or 1.9 percent at 25626.75. About 1557 shares advanced, 1119 shares declined, and 152 shares were unchanged.

M&M, ICICI Bank, Maruti, BHEL and Bajaj Auto were top gainers while Infosys and Adani Ports were losers in the Sensex.

The buyback announcement by Wipro, feels Kawaljeet Saluja, executive director & head of research at Kotak Institutional Equities, is basically a tax-efficient cash-distribution approach adopted by the company, given the high tax incidence on dividend distribution.

Saluja agrees tightening of execution under the new chief executive at Wipro and opportunities to capture low hanging fruits in terms of business are positives which might aid growth in FY17.  However, sustainable growth and convergence of growth rate with the industry will take time, he says citing reason for a reduced rating on the stock.

India's fuel demand surged to its highest level in at least 15 years in the fiscal year ended March, driven by growing appetite for gasoline-guzzling vehicles and a boost in mining and manufacturing activity.

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Live Indian Intraday Market News By CapitalHeight

• The market rebounded on Monday after losing more than 6 percent in previous week. The 30-share BSE Sensex surged 296.17 points or 1.29 percent to 23282.29 and the 50-share NSE Nifty climbed 97.65 points or 1.40 percent to 7078.60.
• Bank of Baroda shot up 15.47 percent despite posting loss in Q3 due to higher provisions. Vedanta, Tata Steel, Adani Ports, PNB, Axis Bank, Hindalco and SBI gained 3-7 percent.
• The Indian rupee has opened marginally higher at 68.19 a dollar today against Friday's close of 68.23 a dollar.
• The mid-point of India’s historical trading band (12.5-16.5 times 12-month rolling-forward price earning multiple) may be a good place for the market to find some footing, says Sanjeev Prasad, Senior Executive Director & Co Head (Strategy), Kotak Institutional Equities, in a note to clients.
• Asian markets barring China traded higher. Nikkei surged over 5 percent and Hang Seng rose nearly 3 percent, tracking positive close on Wall Street. Shanghai fell 1.6 percent.
• Asian shares bounced on Monday, though investors feared fireworks as Chinese markets reopen after the holidays to find there had been a major reversal in the U.S. dollar and a worldwide rout in equities.
• Tata Steel, Adani Ports, Hindalco, Axis Bank and L&T are top gainers while BHEL and Bharti Airtel are losers in the Sensex.
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Today Intraday Trading Tips; Nifty above 8700, Sensex firm

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Today in Intraday Market as many as 199 stocks tracked the strong momentum in the broader market today and touched their year-high levels as the BSE benchmark Sensex surged 522.66 points to hit an all-time high of 28,829.29.
Among the blue-chip stocks that touched their 52-week high mark included Axis Bank, HDFC, HDFC Bank, ICICI Bank and Tata Motors. Others included Yes Bank, Whirlpool of India, SpiceJet, MindTree, MRF and HT Media also hit one-year peak.
Intraday Equity markets scaled a new high today. There is no one reason for this, the over market is in a bull grip.The S&P BSE Sensex rallied as much as 96 points in trade on Wednesday to hit its fresh lifetime high of 28880.80, led by gains in HDFC, HDFC Bank, TCS, L&T and Sun Pharma.
Tracking the momentum, the 50-share Nifty index also surged as much as 27 points in trade t touch its fresh record high of 8722.50, supported by gains in capital goods, banks, auto, and consumer durable and metal stocks.