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Wednesday, July 30, 2014

Sensex rebounds in choppy trade; L&T falls over 7%

Snapping two-day losing streak, the Indian bourses closed higher in choppy trade on Wednesday helped by gains in financial, healthcare, and consumer durables stocks. The market witnessed stock specific movement, with ITC, Bharti Airtel, Dr Reddy's Lab, Lupin rallied between 1-5 per cent after reporting strong set first quarter earnings. On the other hand, L&T plummeted over 7 per cent after reporting the consolidated net profit of Rs 967 crore for the quarter ended June 2014 (Q1), mainly on account of one-time gain of Rs 249 crore on disinvestments and stake sale in one of its project. The BSE SENSEX closed at 26087.42 up by 96.19 points or by 0.37 per cent, while the NSE Nifty ended at 7791.4 up by 42.7 points or by 0.55 per cent. During the day's trade, the BSE Sensex touched intraday high of 26113.48 and intraday low of 25850.04, while the NSE Nifty touched intraday high of 7798.7 and intraday low of 7707.60. Following the trend, the broader market also closed in positive terrain. The BSE MIDCAP closed at 9171.51 up by 32.29 points or by 0.35 per cent, while the BSE SMLCAP ended at 9964.93 down by 1.71 points or by 0.02 per cent. On the global front, most of Asian peers ended higher, except Chinese market, helped by strong corporate earnings that discounted weak economic data. Japan's Nikkei 225 and Hong Kong's Hang Seng closed in green as investors gave thumbs up to better-than-expected earnings of Honda Motor Co and Tokyo Electron Ltd. On the Sectoral front, bankex and consumer durable indices gained 1.57 per cent and 1.47 per cent, respectively. The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3150, shares advanced were 1481 while 1535 shares declined and 134 were unchanged. The top gainers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 373.00,+5.26%), Hero MotoCorp Ltd. (Rs. 2601.35,+2.69%), ICICI Bank Ltd. (Rs. 1489.55,+2.62%), Hindalco Industries Ltd. (Rs. 192.60,+2.53%), Dr. Reddy's Laboratories Ltd. (Rs. 2822.25,+2.01%), among others. On the flip side, Larsen & Toubro Ltd. (Rs. 1524.40,-7.32%), Tata Power Company Ltd. (Rs. 99.60,-1.53%), Wipro Ltd. (Rs. 550.40,-0.85%), State Bank of India (Rs. 2470.95,-0.78%), Tata Steel Ltd. (Rs. 544.90,-0.48%), were among notable gainers on BSE.

Monday, July 28, 2014

Sensex, Nifty end lower on profit booking

The Indian bourses opened the week on weak note as both the major benchmark indices ended in negative terrain on Monday amid profit booking. The market witnessed broad based selling as stocks remained volatile ahead of expiry on Thursday. Among the thirteen sectoral indices, realty, metal and oil & gas stocks were among the top losers while banking, FMCH and consumer durables indices saw some buying activities. Among the individual stocks, FMCG major Hindustan Unilever Limited (HUL) jumped nearly 4 per cent after consumer goods company reported a growth of 3.68 per cent in its standalone net profit at Rs 1,056.85 crore for the first quarter ended June 30, helped by strong revenue and operating performance. The BSE SENSEX closed at 25991.23 down by 135.52 points or by 0.52 per cent, while the NSE Nifty ended at 7748.7 down by 41.75 points or by 0.54 per cent. During the day's trade, the BSE Sensex touched intraday high of 26181.83 and intraday low of 25900.25, while the NSE Nifty touched intraday high of 7799.90 and intraday low of 7722.65. Even, the broader market lost its ground and closed in negative terrain. The BSE MIDCAP closed at 9139.22 down by 38.99 points or by 0.42 per cent, while the BSE SMLCAP ended at 9966.64 down by 70.53 points or by 0.7 per cent. On the global front, most of Asian peers ended higher, undermining weak cues from US markets, after data showed that China's industrial profit grew 17.9 per cent in June, indicating that the world's second-largest economy is strengthening as government employs targeted measures to support growth. Among others, European markets were trading mixed, with both the CAC-40 and FTSE trading flat with positive bias and the DAX trading 0.2 per cent lower, rattled by lower-than-expected German Business Confidence Index. On the Sectoral front, realty and metal indices declined 2.69 per cent and 1.51 per cent, respectively. The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3103, shares advanced were 1265 while 1712 shares declined and 126 were unchanged.. The top losers of the BSE Sensex pack were Coal India Ltd. (Rs. 364.40,-3.14%), Hindalco Industries Ltd. (Rs. 187.85,-2.06%), Tata Motors Ltd. (Rs. 453.15,-1.89%), Tata Steel Ltd. (Rs. 547.55,-1.72%), ICICI Bank Ltd. (Rs. 1451.50,-1.65%), among others. On the flip side, Hindustan Unilever Ltd. (Rs. 686.45,+3.69%), Sun Pharmaceutical Industries Ltd. (Rs. 789.70,+1.33%), Bharat Heavy Electricals Ltd. (Rs. 229.50,+1.17%), Wipro Ltd. (Rs. 555.10,+0.86%), Dr. Reddy's Laboratories Ltd. (Rs. 2760.00,+0.52%), were among notable gainers on BSE.

Friday, July 25, 2014

Sensex snaps 8 day rally on profit booking

Snapping its eight-day gaining streak, the Indian benchmark indices closed lower on Friday as investors booked profits in index heavyweights after sharp gains in the previous eight sessions. The sentiment turned pessimist after IMF cut its outlook for global economic growth to 3.4 per cent for this year from 3.6 per cent predicted in April as expansions weaken from China to the US and West Asia conflicts raise the risk of a surge in oil prices. The BSE SENSEX closed at 26088.89 down by 182.96 points or by 0.7 per cent, while the NSE Nifty ended at 7790.45 down by 40.15 points or by 0.51 per cent. During the day's trade, the BSE Sensex touched intraday high of 26300.17 and intraday low of 26007.31, while the NSE Nifty touched intraday high of 7840.95 and intraday low of 7748.60. Even, the broader market lost its ground and closed in negative terrain. The BSE MIDCAP closed at 9172.11 down by 121.35 points or by 1.31 per cent, while the BSE SMLCAP ended at 10028.99 down by 200.34 points or by 1.96 per cent. On the Sectoral front, realty and metal indices declined 2.8 per cent and 2.51 per cent, respectively. The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3157, shares advanced were 1043 while 1998 shares declined and 116 were unchanged. The top losers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 457.90,-5.70%), Wipro Ltd. (Rs. 549.90,-4.66%), Bharat Heavy Electricals Ltd. (Rs. 226.75,-4.06%), Hindalco Industries Ltd. (Rs. 191.15,-3.24%), Tata Power Company Ltd. (Rs. 100.70,-2.66%), among others. On the flip side, Sun Pharmaceutical Industries Ltd. (Rs. 780.90,+4.44%), Hindustan Unilever Ltd. (Rs. 658.00,+2.44%), Housing Development Finance Corporation Ltd. (Rs. 1060.35,+2.40%), Hero MotoCorp Ltd. (Rs. 2581.65,+1.79%), Dr. Reddy's Laboratories Ltd. (Rs. 2740.05,+1.09%), were among notable gainers on BSE.

Thursday, July 24, 2014

Sensex, Nifty hit new high on global cues

The Indian benchmark indices ended higher for eighth straight session on Thursday, helped by gains in steel, metal and mining stocks after Chinese manufacturing PMI topped estimates. The China HSBC Manufacturing PMI rose to 52 in July from 51.8 in June, the highest reading since January 2013, signaling that the world's second-biggest economy is gaining traction, and the government’s stimulus efforts are injecting new vigor into the economy. Among others, shares of insurance companies rallied after the Cabinet approved 49 per cent foreign direct investment (FDI) in insurers. The BSE SENSEX closed at 26271.85 up by 124.52 points or by 0.48 per cent, while the NSE Nifty ended at 7830.6 up by 34.85 points or by 0.45 per cent. During the day’s trade, the BSE Sensex touched intraday high of 26292.66 and intraday low of 26077.70, while the NSE Nifty touched intraday high of 7835.65 and intraday low of 7771.65. Bucking the trend, the broader market continued its lackluster trade on Thursday and closed on mixed note. The BSE MIDCAP closed at 9293.46 down by 18.26 points or by 0.2 per cent, while the BSE SMLCAP ended at 10229.33 up by 25.15 points or by 0.25 per cent. On the Sectoral front, metal and IT indices gained 1.47 per cent and 0.9 per cent, respectively. The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3213, shares advanced were 1576 while 1498 shares declined and 139 were unchanged. The top gainers of the BSE Sensex pack were Hindalco Industries Ltd. (Rs. 197.55,+2.30%), Tata Steel Ltd. (Rs. 567.05,+2.18%), Hindustan Unilever Ltd. (Rs. 642.30,+1.55%), Wipro Ltd. (Rs. 576.80,+1.31%), ITC Ltd. (Rs. 356.25,+1.09%), among others. On the flip side, GAIL (India) Ltd. (Rs. 429.45,-2.04%), Dr. Reddy's Laboratories Ltd. (Rs. 2713.95,-0.73%), Hero MotoCorp Ltd. (Rs. 2536.30,-0.66%), Cipla Ltd. (Rs. 439.30,-0.61%), Axis Bank Ltd. (Rs. 1996.65,-0.22%), were among notable losers on BSE.

Wednesday, July 23, 2014

Sensex ends 100 pts higher; Infy, TCS up 2%

Continuing its gaining streak for seventh straight session, the Indian benchmark indices ended higher, led by gains in index heavyweights such as Reliance Industries, HDFC Bank, Bharti Airtel and ITC. On the sectoral front, IT, Teck, realty, power, oil & gas and realty stocks were among notable gainers on BSE. Meanwhile, profit booking were seen in the broader markets which capped upmove. The BSE SENSEX closed at 26147.33 up by 121.53 points or by 0.47 per cent, while the NSE Nifty ended at 7795.75 up by 27.9 points or by 0.36 per cent. During the day's trade, the BSE Sensex touched intraday high of 26188.64 and intraday low of 26000.40, while the NSE Nifty touched intraday high of 7809.20 and intraday low of 7752.90. On the global front, most of Asian peers, except Japan's Nikkei 225, ended higher as upbeat corporate earnings and improving economic data fueled hope that geo-political tension would not affect global economic growth. Japan's Nikkei ended lower in choppy trade as investors turned cautious amid ongoing geopolitical risk such as the Gaza crisis, dragging down index-heavyweight SoftBank Corp and exporters such as Honda Motor Co. Meanwhile, European stocks edge higher in early trade on Wednesday on strong set earnings by US companies and economic data. Back home, the broader market continued its lackluster trade on Wednesday and closed on mixed note. The BSE MIDCAP closed at 9311.72 up by 0.63 points or by 0.01 per cent, while the BSE SMLCAP ended at 10204.18 down by 64.58 points or by 0.63 per cent. On the Sectoral front, Teck and IT indices gained 2.24 per cent and 1.74 per cent, respectively. The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3207, shares advanced were 1389 while 1707 shares declined and 111 were unchanged. The top gainers of the BSE Sensex pack were Infosys Ltd. (Rs. 3347.00,+3.46%), Hindalco Industries Ltd. (Rs. 193.10,+2.58%), Tata Consultancy Services Ltd. (Rs. 2586.90,+2.21%), Wipro Ltd. (Rs. 569.35,+1.87%), Mahindra & Mahindra Ltd. (Rs. 1197.00,+1.58%), among others. On the flip side, Tata Steel Ltd. (Rs. 554.95,-1.27%), Tata Power Company Ltd. (Rs. 103.05,-1.25%), Maruti Suzuki India Ltd. (Rs. 2489.10,-0.94%), Oil And Natural Gas Corporation Ltd. (Rs. 405.10,-0.91%), Axis Bank Ltd. (Rs. 2001.15,-0.82%, were among notable losers on BSE.

Tuesday, July 22, 2014

Sensex regains 26k level; Bharti Airtel jumps nearly 5%

The Indian benchmark indices ended higher for the sixth straight day on Tuesday helped by gains in IT, Teck, metals, oil & gas, infrastructure and consumer durable stocks. Further, the continued support from foreign institutional investors also lifted market sentiments. On the sectoral front, shares of telecom services providers such as Bharti Airtel, Idea Cellular and Reliance Communications (RCom) ended higher after the telecom regulator authority of India (TRAI) recommended allowing sharing of all categories of airwaves held by operators, the move could help companies to reduce cost of mobile services. The BSE SENSEX closed at 26025.8 up by 310.63 points or by 1.21 per cent, while the NSE Nifty ended at 7767.85 up by 83.65 points or by 1.09 per cent. During the day's trade, the BSE Sensex touched intraday high of 26050.38 and intraday low of 25780.39 The NSE Nifty touched intraday high of 7773.85 and intraday low of 7704.80. On the global front, most of Asian peers ended higher as investors stayed focus on regional events and were hoping that geo-political tension would not affect global economic growth. All the major Asian stocks ended higher, led by Hang Seng and Shanghai Composite which rose over 1 per cent. Among others, Japan's Nikkei 225 closed 0.84 per cent higher at 127.57. Back home, the broader market ended on mixed note. The BSE MIDCAP closed at 9311.09 up by 10.67 points or by 0.11 per cent, while the BSE SMLCAP closed at 10268.76 down by 0.83 points or by 0.01 per cent. On the Sectoral front, Teck and IT indices gained 2.02 per cent and 1.78 per cent, respectively. The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3232, shares advanced were 1547 while 1555 shares declined and 130 were unchanged. The top gainers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 353.25,+4.81%), Reliance Industries Ltd. (Rs. 1030.80,+3.35%), Housing Development Finance Corporation Ltd. (Rs. 1040.70,+2.93%), Tata Consultancy Services Ltd. (Rs. 2531.05,+2.71%), Hindalco Industries Ltd. (Rs. 188.25,+2.62%), among others. On the flip side, Maruti Suzuki India Ltd. (Rs. 2512.80,-1.00%), Larsen & Toubro Ltd. (Rs. 1654.60,-0.92%), Mahindra & Mahindra Ltd. (Rs. 1178.35,-0.51%), Bharat Heavy Electricals Ltd. (Rs. 234.30,-0.32%), Axis Bank Ltd. (Rs. 2017.60,-0.27%), were among notable losers on BSE.

Monday, July 21, 2014

Sensex, Nifty end higher; RIL up 2%

Continuing its gaining momentum for fifth straight day, the Indian benchmark indices ended higher on Monday as gains in FMCG and oil & gas stocks. The investors bet on oil and gas stocks after country's largest private sector enterprise Reliance Industries has once again delivered better financial results which beat analyst expectations on every parameter. The Mukesh Ambani-owned company has posted a growth of 13.74 per cent in its consolidated net profit at Rs 5,957 crore for the first quarter ended June 30, 2014, despite weak regional refining margins and a planned turnaround in our refinery. On the global front, Asian markets ended lower on Monday as news of downing of Malaysian passenger jet in Ukraine spooked investors, tempting them to go for profit booking. The BSE SENSEX closed at 25685.18 up by 43.62 points or by 0.17 per cent, while the NSE Nifty ended at 7684.2 up by 20.3 points or by 0.26 per cent. During the day's trade, the BSE Sensex touched intraday high of 25861.15 and intraday low of 25677.71, while the NSE Nifty touched intraday high of 7722.1 and intraday low of 7674. In a similar fashion, the broader market also ended higher. The BSE MIDCAP closed at 9299.73 up by 46.93 points or by 0.51 per cent, while the BSE SMLCAP closed at 10261.74 up by 80.9 points or by 0.79 per cent. On the Sectoral front, FMCG and oil and gas indices gained 1.13 per cent and 0.57 per cent, respectively. The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3212, shares advanced were 1809 while 1293 shares declined and 110 were unchanged. The top gainers of the BSE Sensex pack were Housing Development Finance Corporation Ltd. (Rs. 1006.70,+2.61%), Reliance Industries Ltd. (Rs. 996.20,+2.00%), ITC Ltd. (Rs. 349.50,+1.55%), Axis Bank Ltd. (Rs. 2018.00,+1.10%), Hindustan Unilever Ltd. (Rs. 627.25,+0.84%), among others. On the flip side, Tata Power Company Ltd. (Rs. 103.70,-1.94%), GAIL (India) Ltd. (Rs. 437.00,-1.86%), Bharat Heavy Electricals Ltd. (Rs. 234.20,-1.58%), State Bank of India (Rs. 2523.05,-1.50%), Infosys Ltd. (Rs. 3211.00,-1.30%), were among notable losers on BSE.