Indices to open flat

The market may have heaved a sigh of relief as it rallied past the 200-DMA. For lack of other triggers, it is the technicals most investors are paying attention to for short-term movements. 

The market may have heaved a sigh of relief as it rallied past the 200-DMA. For lack of other triggers, it is the technicals most investors are paying attention to for short-term movements. The Nifty surged past the 8300 mark with the Sensex surging over  500 points intra-day led by Reliance, HDFC, ONGC, Infosys and ITC.

The outlook is a flat start. The indices will look at moving higher but may find it hard to sustain through the day. BankNifty will gain interest as select banking stocks are set to move higher. Dabur India, Sun Pharma Advanced Research Company results will be in focus. Barring Monday’s sharp bounce-back, the undertone in the market has been negative for the past few months, going by the rollovers.

The market is most likely to be choppy in the coming weeks with broader range being 8000-8600 levels. The Dow rose 0.26% while S&P 500 and Nasdaq Composite also clocked marginal gains. Asian markets are mixed with Hong Kong's Hang Seng trading higher while China's Shanghai index was marginally lower.

The Indian manufacturing economy recorded a growth slowdown during April. At 51.3 in April, down from 52.1 in March, the headline HSBC India Purchasing Managers’ Index (PMI) pointed to a weaker improvement in operating conditions across the sector. Nonetheless, the headline index recorded above the crucial 50.0 threshold for the eighteenth successive month.

Mutual fund managers pumped in over Rs. 7,600 crore in equity markets in April, making it their highest net inflow in more than seven years. In comparison, they pulled out Rs. 2,698 crore from the stock markets in April 2014, a report stated.

Numero Uno Clothing Ltd has approached the capital markets regulator SEBI to float an initial public offer (IPO). The proposed public issue comprises fresh issue worth Rs. 65 crore and an offer for sale up to 84 lakh from its promoter and AA India Development Capital Fund, the company said in its Draft Red Herring Prospectus (DRHP) filed with SEBI, says a report.

Fortis Healthcare rallied 11.7% to Rs. 173 of expectations of windfall gains. The company has disinvested 100 percent shareholding in RadLink-Asia and its subsidiaries to Fullerton Healthcare Group for a consideration of SGD 111 million. The deal is expected to be completed on or about 12 May, 2015.

The Future Retail board approved realignment of retail operations with Bharti Retail. The retail undertaking of the company will be demerged into Bharti Retail. Shares of Future Retail and Future Retail DVR surged 11.2 and 20 percent, each, to Rs. 129 and Rs. 59.70, respectively.

Mastek zoomed 4.5% to Rs. 405 on completing the acquisition of IndigoBlue Consulting, a leading UK consultancy.

Oberoi Realty zoomed 7.5% to Rs. 291, after the company posted 34% jump in Q4 consolidated net profit at Rs. 103 crore on a year-on-year basis.

Adani Ports and Special Economic Zone surged 9.5 percent to Rs. 348 on the back of 24.7% jump in the company's Q4 consolidated net at Rs. 660.73 crore when compared with Rs. 529.80 crore in the corresponding quarter a year ago.

Shasun Pharmaceuticals soared over 5% to Rs. 330 on reporting more than two-fold jump in consolidated net profit at Rs 22.16 crore for the quarter ended March, 2015.

Rolta India rallied 6.7% to Rs. 123 on signing a definitive agreement for establishing a joint venture with Meprolight, a leading International Electro-Optic company.

Chambal Fertilisers and Chemicals slipped 2.3% to Rs. 65.70 after the company reported a net loss of Rs. 103.57 crore for the March 2015 quarter as against net profit of Rs. 5.62 crore in the same quarter of 2014.

Pantaloons Fashion and Retail Ltd stock ended 20% upper circuit at Rs. 136 after Board of Directors of the Company considered and approved Composite Scheme of Arrangement between the Company, Aditya Birla Nuvo Limited, Madura Garments Lifestyle Retail Company Limited and their respective shareholders and creditors u/s 391 to 394 of the Companies Act, 1956.

Jubilant Industries crashed 11 percent to Rs. 99 after the company reported a net loss of Rs. 54.39 crore for the fourth quarter ended March 2015.

Cognizant Technology Solutions Corporation, revenue for the first quarter of 2015 rose to $2.91 billion, up 20.2% from $2.42 billion in the first quarter of 2014. GAAP net income was $382.9 million, or $0.62 per diluted share, compared to $348.9 million, or $0.57 per diluted share, in the first quarter of 2014. Non-GAAP diluted earnings per share was $0.71 compared to $0.62 in the first quarter of 2014. GAAP operating margin for the quarter was 17.2%. Non-GAAP operating margin was 19.8%, within the Company’s target range of 19-20%. 

Bajaj Auto announced sales for April 2015. The total sales stood at 3,36,274 units in April 2015 compared to 3,31,529 units in April 2014.

Ashok Leyland reported total sales of 8,435 units in April 2015 compared to 5,897 units in April 2014, a growth of 43%.