With the US Federal Open Market Committee (FOMC) dovish announcements behind us, the markets will now exclusively focus on the developments in the Eurozone with respect to Greece. We are only ten days away from the June 30th deadline by which Greece has to pay back the IMF more than a billion dollars. Without a new bailout package, that would be impossible and the Greeks stand on the verge of a default.

Surprisingly, the market has not priced in the likely hood of a Grexit with the Euro holding up above 1.13 against the US Dollar and European bond yields have not been bid strongly either. Perhaps there is a strong belief among market participants that we may see positive news flow after the talks start with an emergency summit on Monday evening.

Extending gains for the sixth day in a row, the benchmark BSE Sensex rose almost 150 points and the NSE Nifty rallied past 8,200 mark in early trade on Friday.

At 9.28 am, Sensex was up 170.56 points at 27,286.39. Similarly, Nifty was up 40.35 points at 8,214.95 during the same time.

Continuing its winning streak for the fourth straight session, the benchmark BSE Sensex surged over 120 points in late morning trade today on sustained buying by investors in blue-chip stocks amid a firming trend in Asian markets ahead of US Fed policy announcement.

At 11:10 am BSE Sensex traded 122.16 points up to 26808.67. NSE Nifty gained 25.90 to 8073.20.

Reliance Gas Transportation Infrastructure Ltd (RGTIL), an unlisted company owned by India's richest man, Mukesh Ambani, has received a generous loan-restructuring package from Indian banks after the company incurred huge losses in the past few years.

This is be the first time any company owned by Ambani has sought loan rescheduling from banks.

June is turning out to be a nightmare for Indian markets, as the National Stock Exchange's (NSE's) benchmark Nifty index has ended in losses on all but one trading session this month.

The 50-share index on Thursday ended below the 8,000-mark for the first time in nearly eight months.

Recovering from nearly 8-month lows, the benchmark BSE Sensex gained over 250 points in late morning trade today, snapping its 6-session losing streak, on the back of a rebound in blue-chip stocks following value buying and positive cues from other Asian markets.

At 11:40 am, BSE Sensex rose 257.79 points or 0.97 per cent to 26739.04. NSE Nifty rose 72.10 points or 0.90 per cent to 8094.50.

Benchmark indices are trading firm amid choppy trades aided by metal, capital goods and defensive sectors like pharma and FMCG. However, the upside is capped due to selling pressure among financials and index heavyweight shares like ITC and RIL.

At 13:08 PM, the 30-share Sensex was up 139 points at 26,949 and the 50-share Nifty gained 40 points at 8,171.

Shares of Tech Mahindra have tanked 13.4% to Rs 554, the sharpest intra-day fall since February 2011 on the NSE, after the company reported a nearly 500 basis points (bps) decline in EBITDA margins at 15.2% for the fourth quarter ended March 31, 2015 (Q4) against 20.2% in the December 2014 quarter.

Meanwhile, the company had reported a 39% sequential fall in consolidated net profit (prior to special adjustments) to Rs 472 crore, due to higher employee expenses and cross-currency fluctuations. The company had posted a profit of Rs 777 crore in the previous quarter.

MUMBAI: PNC Infrastructure listed at Rs 387, a premium of 2.38 per cent, against issue price of Rs 378 on the National Stock Exchange. However, the stock plunged 7.14 per cent below the issue price to touch intraday low of Rs 351 on the back of weak market sentiment.

PNC Infratech is Agra-based infra player having focus on roads & highways construction. In FY2012, it diversified into BOT-Toll & Annuity projects and in FY2014 into OMT projects.

The markets are seeing mild profit-booking this morning after rallying more than 2% in the past week.

At 10.30am, the Sensex was at 27,817, weaker by 139 points and the Nifty was quoting below its crucial technical level of 8,450 at 8,417, down 39 points. The midcap and smallcap indices had, however, edged higher by 0.2% each at 10,645 and 11,226 respectively.

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