Sensex Hits Record High on Continued Reform Push; IT Stocks Rally

Sharemasterindia.com: Indian stock markets rallied sharply on Thursday with the Sensex rising nearly 300 points to an all-time high of 27,390.60. The Nifty jumped 90 points to hit a new record high of 8,181.55.
Continued reform push by the government has boosted sentiments, traders say. On Wednesday, the government relaxed rules for foreign direct investment (FDI) in construction development.
The new rules make it easier for foreign companies to invest in India and many projects will now qualify for FDI through automatic route (no FIPB clearance will be required), analysts say.
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Maruti Suzuki Q2 Beats Estimates, Net Jumps 29%

Mumbai(Sharemasterindia.com):
India’s biggest carmaker Maruti Suzuki India beat analyst estimates with a roughly 29 per cent rise in its quarterly net profit, helped by higher car sales and a positive foreign exchange impact.
Maruti Suzuki, controlled by Japan’s Suzuki Motor Corp, said its net profit for the July-September quarter was rupee“>Rs. 863 crore compared with Rs. 670 crore a year earlier.
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IT and Pharma Stocks Gain on US Fed’s Optimism

Sharemasterindia.com: IT Services exporters gained on Thursday on US Federal Reserve’s optimism about US economic recovery, traders say.
Software exporter HCL Tech was up 3.7 per cent, while Infosys gained 1.76 per cent and rival Tata Consultancy Services added 1.59 per cent.
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Raymond Shares Fall 5% on Weak Earnings

Sharemasterindia.com:
Shares in Raymond fell nearly 5 per cent to a day low of rupee“>Rs. 464.1 on Thursday as its earnings disappointed investors.
The company reported a 26 per cent fall in its September quarter net profit.
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Rupee Falls to 2-Week Low on Fed’s US Economic Outlook

Sharemasterindia.com:
The rupee fell to a two-week low against the dollar on Thursday as the greenback posted gains after the U.S. Federal Reserve statement at the conclusion of its meeting was seen as showcasing more confidence about the U.S. economy prospects.
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Tech Mahindra Posts Profit of Rs. 720 Crore in Q2

Sharemasterindia.com: Shares in Tech Mahindra gained over 4 per cent to a day high of rupee“>Rs. 2,502.2 on Thursday as the company reported strong set of earnings for the July to September quarter of FY15 on Wednesday post market hours.
Its net profit grew 14 per cent sequentially to Rs. 720 crore while its revenue grew 7 per cent to Rs. 5,488 crore in the reporting period. Analysts polled by NDTV had estimated its net profit at Rs. 726 crore on sales of Rs. 5,377 crore.
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Realty Stocks Jump on FDI Relaxation; Orbit, Sobha Lead

Sharemasterindia.com:  Shares in realty and construction companies jumped on Thursday, a day after the government relaxed rules for foreign direct investment in construction development. The new rules make it easier for foreign companies to invest in India and many projects will now qualify for FDI through automatic route (no FIPB clearance will be required), analysts say.
The government wants to open up the construction sector to attract investments so that it can deliver on Prime Minister Narendra Modi’s promise to create 100 “smart cities” in India by 2020.
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Sensex Edges Higher, Nifty Rises Above 8,100

Sharemasterindia.com: BSE Sensex and Nifty were higher today but the gains were capped after the US central bank ended its historic stimulus programme in a move widely expected.
Asian stocks were mixed and the dollar surged to a three-week high versus the yen after the US Federal Reserve ended its massive quantitative easing programme, as expected, but laced its economic assessment with a tinge of optimism.
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Bharti Airtel, Maruti Suzuki, ICICI Bank in Focus Today

Sharemasterindia.com: The Nifty opened flat on Thursday as indicated by futures trade on Singapore Stock Exchange. Foreign investors were net buyers of Indian equities to the tune of rupee“>Rs. 786 crore, whereas domestic investors sold stocks worth Rs. 507 crore in cash market on Wednesday. Markets are likely to witness a volatile trading session today on the back of expiry of October month derivative contracts.
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