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Friday, August 22, 2014

Sensex ends higher; IT, banking stocks up 1%

Driven by broad-based buying support, the Indian benchmarks indices ended higher on Friday, with the regional benchmark index touching fresh record during the day's trade. On the sectoral front, banks, capital goods, oil & gas and metal stocks, were among the top gainers. The banking stocks surged after the Finance Minister Arun Jaitley on Thursday said that the government was working towards bringing in more professionalism in the functioning of banks and improving risk management. On the corporate front, SBI, Reliance Ind, Infosys, ONGC, TCS and L&T were among notable gainers. The BSE SENSEX closed at 26419.55 up by 59.44 points or by 0.23 per cent and the NSE Nifty ended at 7913.2 up by 22.1 points or by 0.28 per cent. The BSE Sensex touched intraday high of 26508.27 and intraday low of 26383.16, while the NSE Nifty touched intraday high of 7929.05 and intraday low of 7900.05. Meanwhile, the BSE MIDCAP closed at 9340.87 up by 20.32 points or by 0.22 per cent, while the BSE SMLCAP ended flat at 10298.52 up by 0.02 points or by 0 per cent. On the Sectoral front, IT and banking stocks climbed 1.63 per cent and 1.03 per cent, respectively. The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3266, shares advanced were 1538 while 1596 shares declined and 132 were unchanged. The top gainers of the BSE Sensex pack were Hindalco Industries Ltd. (Rs. 182.05,+2.36%), State Bank of India (Rs. 2523.60,+2.26%), HDFC Bank Ltd. (Rs. 846.60,+1.80%), Infosys Ltd. (Rs. 3601.25,+1.65%), Tata Consultancy Services Ltd. (Rs. 2461.65,+1.22%), among others

Thursday, August 21, 2014

Sensex ekes out modest gains amid mixed Asian cues

The key domestic benchmarks ended with modest gains on Thursday as the Sensex advanced by 45 points as foreign investors boosted buying in blue-chips amid hopes of a revival in Asia's third biggest economy. Consumer durables and banking stocks led the gains. All eyes are on the Q1 GDP data to be released next week. Mixed cues from Asian stocks weighed on sentiment, trimming gains in the Sensex. Asian stocks ended mixed after the US Federal Reserve signaled that it may raise interest rates sooner than earlier anticipated if the employment target is met quicker than expected. China's Shanghai Composite ended lower after HSBC said that China's manufacturing gauge dropped to 50.3 this month from 51.7 in July, with a reading above 50 signaling expansion, indicating a worsening slowdown in the world’s second biggest economy. Hang Seng closed down while Japan's Nikkei 225 ended up as a weaker yen boosted the appeal of exporter stocks. The BSE SENSEX closed at 26,360.11, up by 45.82 points or by 0.17 per cent and the NSE Nifty ended at 7,891.1, up by 15.8 points or by 0.2 per cent. The BSE Sensex touched intraday high of 26,464.8 and intraday low of 26,262.52 The NSE Nifty touched intraday high of 7,919.65 and intraday low of 7,855.95. Meanwhile, the BSE MIDCAP closed at 9,320.55 up by 44.21 points or by 0.48 per cent, while the BSE SMLCAP ended at 10,298.5 up by 34.99 points or by 0.34 per cent. On the Sectoral front, Consumer Durables and Banking climbed 3.78 per cent and 1.18 per cent, respectively. The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3270, shares advanced were 1755 while 1398 shares declined and 117 were unchanged. The top gainers of the BSE Sensex pack were Bajaj Auto Ltd. (Rs. 2267.30,+3.15%), State Bank of India (Rs. 2467.80,+2.27%), HDFC Bank Ltd. (Rs. 831.65,+1.35%), Mahindra & Mahindra Ltd. (Rs. 1376.15,+1.34%), Sun Pharmaceutical Industries Ltd. (Rs. 857.95,+1.28%), among others.

Wednesday, August 20, 2014

Sensex snaps 6-day winning streak on profit booking

The key domestic benchmarks closed lower today as the Sensex retreated from a record high, snapping a six-day winning run as investors and speculators booked profits after the stellar rally. The Sensex lost over 100 points driven by losses in Oil & Gas, and PSU stocks. On the economic front, a leading index gauging the Indian economy fell slightly in the month of July, clouding the outlook for Asia's third biggest economy. The Conference Board Leading Economic Index (LEI) for India fell by 0.2 per cent to 182.7 in July over the previous month, the Conference Board said in a report on Wednesday. Asian stocks ended mixed as caution persisted ahead of the FOMC minutes in which the Fed may signal the timing of raising interest rates in the US. China's Shanghai Composite fell amid caution ahead of factory data tomorrow which may show that China's manufacturing may have expanded for the third month in August. Hang Seng rose while Japan's Nikkei 225 ended lower even as Japanese exports snapped a two-month contraction streak, up 3.9 per cent year on year in July 2014. The BSE SENSEX closed at 26,314.29, down by 106.38 points or by 0.4o per cent and the NSE Nifty ended at 7,875.3, down by 22.2 points or by 0.28 per cent. The BSE Sensex touched intraday high of 26,504.52 and intraday low of 26,277.61. The NSE Nifty touched intraday high of 7,922.7 and intraday low of 7,864.05. Meanwhile, the BSE MIDCAP closed at 9,276.34, up by 5.48 points or by 0.06 per cent, while the BSE SMLCAP ended at 10,263.51, up by 94.71 points or by 0.93 per cent. On the Sectoral front, Oil & Gas and PSU shed 1.32 per cent and 0.86 per cent, respectively. The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3226, shares advanced were 1772 while 1332 shares declined and 122 were unchanged. The top losers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 423.80,-2.62%), Tata Motors Ltd. (Rs. 511.65,-1.37%), Mahindra & Mahindra Ltd. (Rs. 1357.95,-1.21%), Housing Development Finance Corporation Ltd. (Rs. 1072.30,-1.19%), ITC Ltd. (Rs. 345.00,-1.12%), among others.

Monday, August 18, 2014

Sensex scripts fresh high on economic revival hopes

The key domestic benchmarks began the week on a bullish note as the Sensex surged to a life-time high; advancing for the fifth session on the trot, up by 287 points led by gains in PSU and Oil & Gas stocks. The surge in Dalal Street came amidst robust buying from overseas investors who are betting big on a recovery in Asia's third biggest economy amid hopes that the new government may start delivering promised results. Prime Minister Narendra Modi in his Independence Day Speech urged global businesses to make India their manufacturing base while launching a financial inclusion program for poor families. Easing wholesale inflation also boosted sentiment, leaving more room for the RBI to ease interest rates going forward. Most Asian stocks rose as investors eyed events in Ukraine as Foreign Ministers of Ukraine and Russia held talks in Berlin in a bid to put an end to the conflict. China's Shanghai Composite rose as a dip in China's home prices signaled a deeper property slowdown in the world's second biggest economy, raising hopes that policymakers may add fresh stimulus to spur growth. New home prices in 64 out of the 70 Chinese cities tracked by a government survey fell in July over the previous month as tight mortgage lending rules hindered buying sentiment. Hang Seng ended flat while Japan's Nikkei 225 posted slim gains. The BSE SENSEX closed at 26,390.96, up by 287.73 points or by 1.1 per cent and the NSE Nifty ended at 7,874.25, up by 82.55 points or by 1.06 per cent. The BSE Sensex touched intraday high of 26,413.11 and intraday low of 26,075.28 The NSE Nifty touched intraday high of 7,880.5 and intraday low of 7,779. Meanwhile, the BSE MIDCAP closed at 9,170.35, up by 162.5 points or by 1.8 per cent, while the BSE SMLCAP ended at 10,047.47 up by 223.41 points or by 2.27 per cent. On the Sectoral front, PSU and Oil & Gas climbed 2.83 per cent and 2.64 per cent, respectively. The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3157, shares advanced were 1987 while 1056 shares declined and 114 were unchanged. The top gainers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 431.80,+5.33%), Cipla Ltd. (Rs. 469.75,+4.85%), Axis Bank Ltd. (Rs. 393.90,+4.29%), Bharat Heavy Electricals Ltd. (Rs. 221.05,+4.00%), Tata Motors Ltd. (Rs. 503.90,+3.98%), among others.

Thursday, August 14, 2014

Markets end positive; banks lead

The Indian benchmark ended in green with Consumer durables sector stocks on the rise with Whirlpool of India leading the pack followed by Blue Star, TTK Prestige, Titan and VIP Industries. Hero MotoCorp dipped after MSCI, in its India index, reduced the two-wheeler major's weightage to 0.62 per cent from 1.24 per cent earlier. Markets are closed on Friday for Independence Day. At 16:00 PM BSE SENSEX was at 26103.23 up by 184.28 points or by 0.71 per cent and then NSE Nifty was at 7791.7 up by 52.15 points or by 0.67 per cent. The BSE MIDCAP was at 9007.85 up by 107.1 points or by 1.2 per cent. while the BSE SMLCAP was at 9824.06 up by 112.75 points or by 1.16 per cent The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3178 , shares advanced were 1725 while 1308 shares declined and 145 were unchanged The top gainers of the BSE Sensex pack were GAIL (India) Ltd. (Rs. 426.00,+3.79 per cent), Sesa Sterlite Ltd. (Rs. 288.30,+2.80 per cent), Tata Motors Ltd. (Rs. 484.60,+2.53 per cent), Tata Power Company Ltd. (Rs. 90.70,+2.37 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 409.95,+2.03 per cent), among others. The top losers of the BSE Sensex pack were Hero MotoCorp Ltd. (Rs. 2510.95,-2.69 per cent), Housing Development Finance Corporation Ltd. (Rs. 1124.50,-1.44 per cent), Hindalco Industries Ltd. (Rs. 178.50,-0.83 per cent), Bharti Airtel Ltd. (Rs. 365.55,-0.75 per cent), Hindustan Unilever Ltd. (Rs. 714.05,-0.61 per cent), among others. The top gainers of the NSE Nifty pack were Jindal Steel & Power Ltd. (Rs. 285.20,+3.67 per cent), GAIL (India) Ltd. (Rs. 425.70,+3.38 per cent), United Spirits Ltd. (Rs. 2362.30,+2.83 per cent), Sesa Sterlite Ltd. (Rs. 289.50,+2.82 per cent), Ambuja Cements Ltd. (Rs. 210.90,+2.53 per cent), among others. The top losers of the NSE Nifty pack were Hero MotoCorp Ltd. (Rs. 2510.55,-2.64 per cent), Housing Development Finance Corporation Ltd. (Rs. 1124.30,-1.73 per cent), HCL Technologies Ltd. (Rs. 1538.00,-1.42 per cent), Bharti Airtel Ltd. (Rs. 365.20,-0.92 per cent), Hindalco Industries Ltd. (Rs. 178.60,-0.81 per cent), among others Among the sectoral indices on BSE, BSE_CDS index was at 8648.06 up by 176.26 points or by 2.08 per cent. Whirlpool of India Ltd. (Rs. 412.55,+10.00 per cent), Blue Star Ltd. (Rs. 310.05,+3.80 per cent), TTK Prestige Ltd. (Rs. 3855.65,+2.91 per cent), Titan Company Ltd. (Rs. 350.90,+2.18 per cent), VIP Industries Ltd. (Rs. 97.90,+2.14 per cent)

Wednesday, August 13, 2014

Sensex posts slim gains despite weak economic data

The key domestic benchmarks recovered from a weak start as the Sensex posted mild gains in choppy trade as the depreciation in the Indian rupee boosted technology stocks. However, weak earnings from capital goods major BHEL highlighted the concerns over Asia's third biggest economy. Further, investors weighed weak IIP and CPI data which showed that consumer inflation accelerated in July while industrial output growth slowed in June. India's consumer prices climbed 7.96 per cent in July 2014 from the same month a year ago, above the annual 7.46 per cent rise in June 2014. Industrial output growth slowed to 3.4 per cent, year on year in June 2014 from the annual 5 per cent rise in May 2014, signaling a lingering slowdown. Asian stocks rose even as weak Chinese and Japanese data added to concerns over two leading Asian economies. China's Shanghai Composite posted slim gains after factory output grew 9 per cent, year on year in July 2014, down from the 9.2 per cent rise in June 2014 while Aggregate financing stood at 273.1 billion yuan in July, down from an estimated 1.5 trillion yuan while new local currency loans came in at 385.2 billion yuan in July, compared to 780 billion yuan as per estimates. Hang Seng rose and Japan’s Nikkei 225 ended higher even as Japan's economy shrank an annualized 6.8 per cent in the June quarter amid a higher sales tax rate. The BSE SENSEX closed at 25,918.95, up by 38.18 points or by 0.15 per cent, and the NSE Nifty ended at 7,739.55, up by 12.5 points or by 0.16 per cent. The BSE Sensex touched intraday high of 25,972.62 and intraday low of 25,791.79 The NSE Nifty touched intraday high of 7,757.1 and intraday low of 7,695.7. Meanwhile, the BSE MIDCAP closed at 8,900.75, down by 155.2 points or by 1.71 per cent, while the BSE SMLCAP ended at 9,711.31, down by 235.75 points or by 2.37 per cent. On the Sectoral front, FMCG and IT rose 2.22 per cent and 0.76 per cent, respectively. The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3155, shares advanced were 952 while 2099 shares declined and 104 were unchanged. The top gainers of the BSE Sensex pack were ITC Ltd. (Rs. 356.45,+2.72%), Hindustan Unilever Ltd. (Rs. 718.40,+2.49%), Housing Development Finance Corporation Ltd. (Rs. 1140.95,+2.26%), Sun Pharmaceutical Industries Ltd. (Rs. 800.25,+2.09%), Wipro Ltd. (Rs. 548.95,+0.98%), among others.

Tuesday, August 12, 2014

Sensex advances for second day ahead of economic data

The key domestic benchmarks closed on a strong note as the Sensex advanced for a second day on the trot on Tuesday, rallying by more than 361 points led by gains in Auto and PSU stocks. The scrip of Tata Motors surged nearly 6 per cent after the company posted a robust 213 per cent year-on-year (y-o-y) jump in consolidated net profit at Rs 5,398 crore for the quarter ended June 2014 (Q1), on back of strong demand for new products, growth in volumes, richer product mix and richer geographic mix at Jaguar Land Rover (JLR). Investors were confident ahead of June IIP numbers which may show that industrial output rose for the third month on the trot in June, signaling a recovery in Asia's third biggest economy. . India's industrial output may have risen 5.6 per cent, year on year in June 2014, up from an annual 4.7 per cent rise in the previous month. Positive cues from most Asian markets also boosted sentiment as geopolitical concerns eased amid fading tensions over Ukraine while the US airstrikes in Iraq also raised hopes of a containment of militancy in the country. Russia agreed to support aid for an international humanitarian mission in eastern Ukraine. China's Shanghai Composite fell ahead of retail sales and industrial output data due tomorrow which may offer cues over the pace of economic recovery in the world's biggest metals consumer. China's factory output growth may have stood unchanged at 9.2 per cent in July 2014 while retail sales may have risen 12.5 per cent, year on year, up from an annual 12.4 per cent in June 2014, estimates showed. Hang Seng rose while Japan's Nikkei 225 extended a rally as a weaker yen bolstered the outlook for exporter stocks. The BSE SENSEX closed at 25,880.77, up by 361.53 points or by 1.42 per cent and the NSE Nifty ended at 7,727.05, up by 101.1 points or by 1.33 per cent. The BSE Sensex touched intraday high of 25904.98 and intraday low of 25645.79 The NSE Nifty touched intraday high of 7735.75 and intraday low of 7654.8 Meanwhile, the BSE MIDCAP closed at 9,055.95, up by 43.9 points or by 0.49 per cent, while the BSE SMLCAP ended at 9,947.06, up by 44.39 points or by 0.45 per cent. On the Sectoral front, Auto and PSU climbed 1.79 per cent and 1.72 per cent, respectively. The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3164, shares advanced were 1624 while 1420 shares declined and 120 were unchanged. The top gainers of the BSE Sensex pack were GAIL (India) Ltd. (Rs. 413.65,+6.02%), Tata Motors Ltd. (Rs. 473.90,+5.92%), Housing Development Finance Corporation Ltd. (Rs. 1115.75,+5.39%), Oil And Natural Gas Corporation Ltd. (Rs. 405.50,+3.21%), NTPC Ltd. (Rs. 139.45,+2.69%), among others.