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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Afternoon Equity Market Overview By CapitalHeight

Equity benchmarks continued to consolidate in noon trade ahead of RBI monetary policy that is scheduled to be on Tuesday. The Sensex gained 16.80 points at 25286.44 and the Nifty rose 12.35 points to 7725.40.
         Oil prices fell as the chances of Middle East producers agreeing to curb overproduction appeared to fade, while U.S. output remains stubbornly high. Front month US West Texas Intermediate (WTI) crude futures were trading at USD 36.30 per barrel, down 1.3 percent or 49 cents from their last settlement. International Brent futures were down 4 percent or 1.63 cents at USD 38.70 a barrel.
          Hindalco Industries topped buying list on Sensex, up 4 percent followed by Infosys, Tata Motors, M&M, Dr Reddy's Labs, Wipro, Bajaj Auto and Tata Steel with more than 1 percent upside. ITC, Lupin and ONGC were down more than 1 percent.

          With inflation under check and government sticking to its fiscal consolidation path, market expectations are that RBI may cut interest rate by up to 0.50 percent in its first bi-monthly monetary policy review for 2016-17 on Tuesday in order to propel growth. The government has also pared the small savings interest rate by up to 1.3 percent providing cushion to the Reserve Bank for cutting the policy rate.        Finance Minister Arun Jaitley too had last week expressed desire that the RBI should cut rate, stating "I want what everybody wants. At this stage if rate cuts do take place it's certainly going to be helpful because you need a more efficient economy and you need a more competitive cost of capital". Bankers said high interest rate could make Indian economy sluggish given that inflation is around 5 percent.

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Market Outlook:-

The market rebounded on Wednesday after a sell-off in previous two consecutive sessions.

    The 30-share BSE Sensex rose 208.93 points to 25109.39 and the 50-share NSE Nifty climbed 63.25 points to 7660.25.

         Lupin, Tata Motors, ICICI Bank, Sun Pharma, Hindalco Industries, Vedanta and UltraTech Cement topped buying list in early trade.
        The Indian rupee has opened marginally higher at 66.48 per dollar today against previous close of 66.54.
Asian markets too are trading in the green.
        Sun Pharmaceutical Industries shares gained 2.6 percent intraday after the company acquired 14 established prescription brands from Novartis AG and Novartis Pharma AG in Japan.

Live Indian Intraday Trading Tips; Nifty is down 5.80 points at 7012.90

The market has opened flat on a very crucial day of February Future & options expiry and Rail Budget. The Sensex is up 2.37 points at 23091.30 and the Nifty is up 11.15 points or 0.2 percent at 7029.85. About 247 shares have advanced, 106 shares declined, and 20 shares are unchanged.
           Hindalco, ONGC, Tata Motors, ICICI Bank and BHEL are top gainers while NTPC, ITC, Hero MotoCorp, Dr Reddy's Labs and HDFC are losers in the Sensex.

          The Indian rupee opened higher by 9 paise at 68.47 per dollar on Thursday versus 68.56 Wednesday.          

         The market is still struggling as the 50-share index breached 7000 intraday. The Nifty is down 5.80 points at 7012.90 and the Sensex is down 8.75 points at 23080.18.

         Indian Railways will have to depend on more government support and borrowing to fix their finances in its budget on Thursday, with New Delhi reluctant to unveil steep fare hikes ahead of key state elections, officials said.

                Asian shares got off to a shaky start on Thursday as investors remained cautious in the face of a fragile recovery in volatile crude oil - a source of much of the recent anxiety about the health of the global economy.
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Latest Market Updates with Live Indian Trading Tips

The Sensex is down 143.34 points or 0.6 percent at 23048.63, and the Nifty slips 48.40 points or 0.7 percent at 6999.85. About 332 shares have advanced, 1156 shares declined, and 47 shares are unchanged.

          Dr Reddy's Labs, NTPC, Tata Motors, Infosys and Sun Pharma are top gainers while Hindalco, SBI, Tata Steel, Coal India and Adani Ports are losers in the Sensex.

           Neelkanth Mishra of Credit Suisse said ,"The Indian market is down 14 percent for the year in dollar terms. The sharp risk rally on February 15 was likely catalysed by a 2.1 percent appreciation in CNH over the Chinese New Year.

           IDBI Bank is fairly well placed despite booking a loss and making provisions in the third quarter, says the bank's deputy managing director BK Batra.

          Shaun Rein, managing director at China Market Research group feels the Chinese markets will remain volatile for 3-4 months, although they have opened up relatively stronger after the Chinese new-year break.

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