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Wednesday, April 16, 2014

Sensex ends lower as IT stocks drag

The key domestic benchmarks ended lower today as the Sensex shed more than 200 points dragged down by losses in IT stocks amid caution ahead of the Q4 earnings numbers of IT major TCS later in the day. Sentiment also weakened as the acceleration in wholesale and retail inflation last month dashed hopes of an easing of monetary policy by the RBI in the near-term. Weak economic growth data from China in Q1 also added to the bearish sentiment. Asian stocks ended higher amid hopes that China may boost stimulus to revive the world's second biggest economy which grew at the slowest pace in six quarters in Q1 2014. China's GDP grew 7.4 per cent, year on year in Q1 2014, compared to an annual 7.7 per cent growth in the previous quarter. Industrial production growth slowed to 8.8 per cent in March 2014, year on year, down from annual expansion of 8.6 per cent in the January-February 2014 period. China's Shanghai Composite and Hang Seng ended higher even as China's economic data trailed estimates. Japan's Nikkei 225 surged as a weaker yen boosted the appeal of exporter stocks. The BSE SENSEX closed at 22,277.23, down by 207.7 points or by 0.92 per cent and the NSE Nifty ended at 6,675.3 down by 57.8 points or by 0.86 per cent. The BSE Sensex touched intraday high of 22,533.61 and intraday low of 22,247.39 The NSE Nifty touched intraday high of 6,748.65 and intraday low of 6,665.15. Meanwhile, the BSE MIDCAP closed at 7,232.76, down by 79.23 points or by 1.08 per cent, while the BSE SMLCAP ended at 7,418.22 down by -83.28 points or by 1.11 per cent. On the Sectoral front, Realty and IT shed 3.87 per cent and 2.49 per cent, respectively

Tuesday, April 15, 2014

Sensex ends lower after disappointing inflation data

The key domestic benchmarks ended lower today as wholesale inflation in India rose to the highest level in three months in March 2014 as prices of food items such as potato, onion and fruits jumped, leaving the Reserve Bank of India (RBI) less room to ease its monetary policy stance and start cutting interest rates in the near-term to help bolster growth in Asia's third biggest economy. The wholesale price index rose by 5.7 per cent in March 2014 over the same month a year ago, government data showed on Tuesday. In February 2014, wholesale inflation stood at the lowest level in nine months at 4.68 per cent. IT stocks rose as Infosys posted better than expected Q4 earnings. Infosys said that its consolidated net profit for the fourth quarter ended March 31, 2014 rose by 25 per cent at Rs 2,992 crore from the same period a year ago amid impressive revenue growth. In Q4 2012-13, the company had posted a consolidated net profit of Rs 2,394 crore, Infosys Ltd said in a filing to the Bombay Stock Exchange (BSE). Most Asian stocks ended lower as the slowest increase in China's money supply since 2001 in March 2014 signaled a worsening slowdown in the world's second biggest economy. M2, the broadest measure of money supply rose 12.1 per cent in March 2014 over the same month a year ago, compared to an annual rise of 13.3 per cent in February 2014. China's Shanghai Composite and Hang Seng tumbled after weak Chinese data while Japan's Nikkei 225 rose. The BSE SENSEX closed at 22,484.93, down by 144.03 points or by 0.64 per cent and the NSE Nifty ended at 6,733.1 down by 43.2 points or by 0.64 per cent. The BSE MIDCAP closed at 7,311.99, down by 26.47 points or by 0.36 per cent, while the BSE SMLCAP ended at 7,501.5, down by 21.68 points or by 0.29 per cent. The BSE Sensex touched intraday high of 22,737.31 and intraday low of 22,416.24 The NSE Nifty touched intraday high of 6,813.4 and intraday low of 6,711.75. On the Sectoral front, IT and Teck advanced 2.16 per cent and 1.62 per cent, respectively. The Market breadth, indicating the overall healthcare of the market, was weak. On BSE out of total shares traded 3024, shares advanced were 1375 while 1512 shares declined and 137 were unchanged. The top gainers of the BSE Sensex pack were Tata Consultancy Services Ltd. (Rs. 2251.55,+4.06%), Wipro Ltd. (Rs. 589.00,+3.71%), Hero MotoCorp Ltd. (Rs. 2230.00,+2.69%), Infosys Ltd. (Rs. 3260.45,+0.76%), Hindustan Unilever Ltd. (Rs. 612.30,+0.56%), among others.

Friday, April 11, 2014

Sensex ends lower amid bearish Asian cues

Tracking a sell-off in Asian peers, the key domestic benchmarks ended in the negative terrain today as the Sensex shed 86 points as oil & gas and auto stocks fell. Weak global sentiment amid a drop in technology stocks in Asia and US weighed on the Sensex. Further, profit booking amid caution ahead of the IIP data to be released after market hours which may show muted expansion in industrial output in February, and inflation and quarterly earnings numbers next week, also weighed on sentiment. Further, a second straight dip in exports in March also raised growth fears over Asia's third biggest economy. Asian stocks tumbled as technology shares fell tracking sharp losses on Wall Street overnight. China's Shanghai Composite and Hang Seng ended lower as a 25th straight drop in the Chinese producer prices index in March signaled weak demand in the world's second biggest economy. Japan's Nikkei 225 slumped as a weaker yen dimmed the appeal of exporter stocks. The BSE SENSEX closed at 22,628.96, down by 86.37 points or by 0.38 per cent, and the NSE Nifty ended at 6,776.3 down by 20.1 points or by 0.3 per cent. The BSE Sensex touched intraday high of 22,679.18 and intraday low of 22,526.89 The NSE Nifty touched intraday high of 6,789.35 and intraday low of 6,743.15. Meanwhile, the BSE MIDCAP closed at 7,338.46, up by 7.18 points or by 0.1 per cent, while the BSE SMLCAP ended at 7,523.18 up by 49.3 points or by 0.66 per cent. On the Sectoral front, Oil & Gas and Auto shed 1.28 per cent and 1.20 per cent, respectively. The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3048, shares advanced were 1593 while 1320 shares declined and 135 were unchanged. The top losers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 423.25,-1.75%), Mahindra & Mahindra Ltd. (Rs. 1002.85,-1.75%), Reliance Industries Ltd. (Rs. 952.85,-1.65%), State Bank of India (Rs. 1994.30,-1.61%), GAIL (India) Ltd. (Rs. 372.05,-1.59%), among others.

Thursday, April 10, 2014

Sensex ends flat on profit booking

The key domestic benchmarks ended on a flat note with positive bias today, retreating from record highs, as investors booked profit in blue chips stocks such as Infosys on caution ahead of the release of quarterly earnings and inflation data next week. During the day's trading, both BSE Sensex and CNX Nifty hit their fresh record highs on back of buying in stocks of capital goods, realty, consumer durables, auto and healthcare sectors. Riding on optimism that the elections will lead to the formation of a growth and reform friendly government, foreign institutional investors (FIIs) continued their buying spree as they bought net Rs. 1043.86 crore yesterday as per provisional data from the stock exchanges. Most Asian stocks rallied today as Chinese shares rallied on a new cross-border investment rule. China's Shanghai Composite rose more than 1 per cent to their highest in nearly two months after Beijing's securities regulator said it would allow cross-border stock investment between Hong Kong and Shanghai. Tracking the news, the Hang Seng Index ended up 1.5 per cent, to hit its highest close since January 2. The BSE SENSEX closed at 22715.33 up by 12.99 points or by 0.06 per cent and the NSE Nifty ended at 6796.4 up by 0.2 points or by 0 per cent. The BSE Sensex touched intraday high of 22792.49 and intraday low of 22644.43 and the NSE Nifty touched intraday high of 6819.05 and intraday low of 6777.30. Meanwhile, the BSE MIDCAP closed at 7331.28 up by 45.89 points or by 0.63 per cent, while the BSE SMLCAP settled at 7473.88 up by 46.53 points or by 0.63 per cent. On the Sectoral front, power and CGS rose 2.52 per cent and 1.61 per cent, respectively. The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3051, shares advanced were 1599 while 1301 shares declined and 151 were unchanged. The top gainers of the BSE Sensex pack were Tata Power Company Ltd. (Rs. 87.25,+4.12%), Bharat Heavy Electricals Ltd. (Rs. 186.55,+2.70%), NTPC Ltd. (Rs. 123.75,+2.57%), Tata Motors Ltd. (Rs. 430.80,+2.33%), State Bank of India (Rs. 2026.85,+2.15%), among others. On the flip side, Dr. Reddy's Laboratories Ltd. (Rs. 2549.10,-2.72%), Sun Pharmaceutical Industries Ltd. (Rs. 616.20,-1.85%), Hero MotoCorp Ltd. (Rs. 2205.10,-1.70%), Infosys Ltd. (Rs. 3206.60,-1.43%), ITC Ltd. (Rs. 342.55,-1.42%), were among notable losers on BSE.

Wednesday, April 9, 2014

Sensex surges by over 350 pts. as IMF raises growth outlook

The key domestic benchmarks ended on a robust note today as the Sensex rallied to a record high, advancing by more than 350 points amid robust capital inflows after the International Monetary Fund (IMF) on Tuesday said that its expects a pickup in India's economy this year as an improving global economy boosts export outlook while investment recovers on the back of recent project approvals. Asia's third biggest economy is tipped to expand by 5.4 per cent in 2014, the Washington-based lender said in its 'World Economic Outlook'. In 2013, the country's economy grew by 4.4 per cent, the IMF added. Markets are also riding on optimism that the elections will lead to the formation of a growth and reform friendly government. Most Asian stocks rallied today as Chinese shares advanced even as the IMF said that the country's economic growth may slow to 7.5 per cent in 2014 from 7.7 per cent last year. China's Shanghai Composite rose as technology companies rallied after the government said that it will raise railway spending. Hang Seng surged and Japan's Nikkei 225 slumped as a stronger yen dimmed the appeal of exporter stocks. The BSE SENSEX closed at 22,702.34, up by 358.89 points or by 1.61 per cent and then NSE Nifty ended at 6,796.2 up by 101.15 points or by 1.51 per cent. The BSE Sensex touched intraday high of 22740.04 and intraday low of 22379.95 The NSE Nifty touched intraday high of 6808.7 and intraday low of 6705.1 Meanwhile, the BSE MIDCAP closed at 7,285.39, up by 120.03 points or by 1.68 per cent, while the BSE SMLCAP ended at 7,427.35 up by 146.28 points or by 2.01 per cent. On the Sectoral front, Banking and Metal rose 3.45 per cent and 2.26 per cent, respectively. The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 2964, shares advanced were 1934 while 909 shares declined and 121 were unchanged. The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 627.80,+6.91%), Axis Bank Ltd. (Rs. 1484.85,+4.44%), Tata Motors Ltd. (Rs. 421.00,+4.40%), Hindalco Industries Ltd. (Rs. 142.70,+4.05%), ICICI Bank Ltd. (Rs. 1256.00,+3.88%), among others.

Monday, April 7, 2014

Sensex ends lower for third day amid profit booking

The key domestic benchmarks ended tad lower, as the Sensex closed in the red for a third session on the trot as investors and speculators booked profits as India kicked off a five-week election process today. Caution prevailed as investors eyed the general elections amid hopes of the formation of a stable government at the centre which will accelerate reforms and boost economic growth. With stock markets closed tomorrow due a holiday, many investors stayed on the sidelines. Investors are also eyeing the IIP data on Friday which will offer more cues over the health of Asia's third biggest economy. A weak trend in Asian shares also weighed on sentiment. Asian stocks fell amid profit booking after recent gains as technology and telecommunication stocks tumbled, overshadowing robust US jobs data which showed a pickup in the country's labour market last month. While Shanghai Composite was closed due to a holiday, Hang Seng fell and Japan's Nikkei 225 slumped as a stronger yen dimmed the appeal of exporter stocks and investors stayed cautious as the Bank of Japan began a two-day meet today. The BSE SENSEX closed at 22,343.45, down by 16.05 points or by 0.07 per cent and the NSE Nifty ended at 6,692.65, down by -1.7 points or by 0.03 per cent. The BSE Sensex touched intraday high of 22,481.62 and intraday low of 22,197.51 The NSE Nifty touched intraday high of 6,725.15 and intraday low of 6,650.4. Meanwhile, the BSE MIDCAP closed at 7,165.36, down by 32.26 points or by 0.45 per cent, while the BSE SMLCAP ended at 7,281.07 up by 16.02 points or by 0.22 per cent. On the Sectoral front, Realty and Consumer Durables fell 1.37 per cent and 1.24 per cent, respectively. The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 2784, shares advanced were 1464 while 1207 shares declined and 113 were unchanged. The top losers of the BSE Sensex pack were Bharat Heavy Electricals Ltd. (Rs. 177.85,-3.32%), Cipla Ltd. (Rs. 396.45,-1.89%), ICICI Bank Ltd. (Rs. 1209.05,-1.73%), Dr. Reddy's Laboratories Ltd. (Rs. 2602.40,-1.64%), Maruti Suzuki India Ltd. (Rs. 1903.95,-1.20%), among others.

Friday, April 4, 2014

Sensex slips for second day amid profit booking

The key domestic benchmarks ended lower for a second day on the trot as the Sensex closed lower by nearly 150 points amid selling pressure in Auto and IT stocks as investors booked profits after the benchmark scaled record highs in recent days. Growth fears remain as India's service sector activity slipped into contraction territory in March. Further, investors were eyeing the start of the elections next week and the Q4 FY 2013-14 data. Caution ahead of the US jobs data also weighed on sentiment. Asian stocks ended on a subdued note as investors stay jittery ahead of the US jobs data today which may offer cues over the US Federal Reserve's next move. A pick-up in job growth in the US last month may signal improving labour market recovery in the world's biggest economy, raising bets of continued stimulus taper. China's Shanghai Composite ended higher as the International Monetary Fund (IMF) saw no hard landing for the world's second biggest economy, which is experiencing a slowdown. Hang Seng ended lower while Japan's Nikkei 225 logged slim losses. The BSE SENSEX closed at 22,359.5, down by 149.57 points or by 0.66 per cent and the NSE Nifty ended at 6,694.35 down by 41.75 points or by 0.62 per cent. The BSE Sensex touched intraday high of 22,525.21 and intraday low of 22,339.4 The NSE Nifty touched intraday high of 6,741.85 and intraday low of 6,685.15. Meanwhile, the BSE MIDCAP closed at 7,197.62, up by 26.87 points or by 0.37 per cent, while the BSE SMLCAP ended at 7,265.05, up by 57.6 points or by 0.8 per cent. On the Sectoral front, Auto and IT shed 1 per cent and 0.95 per cent, respectively. The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3045, shares advanced were 1718 while 1171 shares declined and 156 were unchanged. The top gainers of the BSE Sensex pack were Cipla Ltd. (Rs. 404.10,+1.98%), Tata Steel Ltd. (Rs. 401.90,+0.84%), State Bank of India (Rs. 1904.25,+0.47%), Hindalco Industries Ltd. (Rs. 137.65,+0.44%), Coal India Ltd. (Rs. 282.00,+0.41%), among others.