Mid-Session: Sensex stays on firm foot; IT, Teck stocks up 07/07/2014

Mid-Session: Sensex stays on firm foot; IT, Teck stocks up
07/07/2014 12:33
Supported by gains in IT and Teck stocks, the domestic bourses continue to float in positive terrain on Monday. However, the upmove was offset by selling in financials and oil and gas stocks. On the global front, most Asian stocks were subdued edged higher in lack of any development on global front. U.S. market remained closed on Friday after reporting higher-than-expected US jobs data. Back home, the sentiment remained positive as investors are expecting the NDA government to announce big-ticket reforms in upcoming Union Budget to bolster growth in Asia’s third biggest economy.

At 12:30 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 26034.12 up by 72.06 points or by 0.28 per cent and the NSE Nifty was at 7766.05 up by 14.45 points or by 0.19 per cent.

In a similar fashion, the broader market was also moving higher above the baseline. The BSE MIDCAP was at 9563.03 up by 17.28 points or by 0.18 per cent, while the BSE SMLCAP was at 10575.21 up by 67.18 points or by 0.64 per cent.

The market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 3005, shares advanced were 1626 while 1277 shares declined and 102 were unchanged.

The top gainers of the BSE Sensex pack were Tata Power Company Ltd. (Rs. 110.25,+2.85%), Dr. Reddy's Laboratories Ltd. (Rs. 2748.75,+2.62%), Infosys Ltd. (Rs. 3322.00,+2.56%), Bharti Airtel Ltd. (Rs. 346.55,+2.38%), Tata Consultancy Services Ltd. (Rs. 2456.75,+1.95%), among others.

On the flip side, HDFC Bank Ltd. (Rs. 846.20,-1.19%), Oil And Natural Gas Corporation Ltd. (Rs. 417.65,-1.01%), GAIL (India) Ltd. (Rs. 459.80,-0.91%), ICICI Bank Ltd. (Rs. 1451.80,-0.73%), Reliance Industries Ltd. (Rs. 1025.65,-0.61%), were among notable losers on BSE.

Among the thirteen sectoral indices on BSE, IT index was leading the gain and was trading higher at 9484.84 up by 173.65 points or by 1.86 per cent. Infosys Ltd. (Rs. 3317.95,+2.43%), Tata Consultancy Services Ltd. (Rs. 2461.35,+2.14%), MindTree Ltd. (Rs. 869.50,+1.99%), Persistent Systems Ltd. (Rs. 1116.60,+1.51%), KPIT Technologies Ltd. (Rs. 182.65,+1.22%), were among the notable gainers on BSE.

Following the IT index, BSETECk index was at 5348.25 up by 82.23 points or by 1.56 per cent. Mahanagar Telephone Nigam Ltd. (Rs. 38.55,+5.91%), Finolex Cables Ltd. (Rs. 216.30,+4.02%), Infosys Ltd. (Rs. 3317.95,+2.43%), Tata Consultancy Services Ltd. (Rs. 2461.35,+2.14%), HT Media Ltd. (Rs. 126.50,+2.10%), were among the others supporting the market.

Mid-Session: Sensex, Nifty slip in red; Wipro, CIL down 04/07/2014

Mid-Session: Sensex, Nifty slip in red; Wipro, CIL down
04/07/2014 12:31
The Indian benchmark indices slipped into negative terrain in afternoon session of day’s trade on Friday as market consolidate, taking some breathe after recent pre-budget rally. The market sentiment was partially dampened after Finance Minister Arun Jaitley expressed concern over the impact of Iraq crisis on crude oil. In the choppy trade, gains in healthcare, auto, oil and gas, banks and technology stocks were offset by losses in metal and capital goods stocks.

At 12:20 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 25723.24 down by 100.51 points or by 0.39 per cent and the NSE Nifty was at 7710.65 down by 4.15 points or by 0.05 per cent.

On the global front, most Asian stocks edged higher after US jobs data came in better than expected, raising hopes of a pickup in the world’s biggest economy. American employers added 288,000 jobs in June, up from 224,000 in the previous month as the jobless rate slid to 6.1 per cent from 6.3 per cent in May.

However, the broader market continued to hold its ground and was moving higher above the baseline. The BSE MIDCAP was at 9498.32 up by 7.74 points or by 0.08 per cent, while the BSE SMLCAP was at 10442.09 up by 22.71 points or by 0.22 per cent.

The market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2936, shares advanced were 1371 while 1444 shares declined and 121 were unchanged.

The top losers of the BSE Sensex pack were Wipro Ltd. (Rs. 544.85,-1.93%), Mahindra & Mahindra Ltd. (Rs. 1212.95,-1.86%), Coal India Ltd. (Rs. 389.70,-1.67%), Sesa Sterlite Ltd. (Rs. 305.85,-1.51%), Tata Power Company Ltd. (Rs. 105.30,-1.50%), among others.

On the flip side, Dr. Reddy's Laboratories Ltd. (Rs. 2677.20,+1.51%), Infosys Ltd. (Rs. 3231.10,+0.63%), Bharti Airtel Ltd. (Rs. 338.95,+0.47%), Reliance Industries Ltd. (Rs. 1011.25,+0.41%), Bajaj Auto Ltd. (Rs. 2300.00,+0.20%), were among notable gainers on BSE.

Among the thirteen sectoral indices on BSE, metal index was leading the fall and was trading lower at 13394.76 down by 165.03 points or by 1.22 per cent. Steel Authority of India (SAIL) Ltd. (Rs. 93.90,-1.93%), Jindal Steel & Power Ltd. (Rs. 323.40,-1.78%), Coal India Ltd. (Rs. 389.70,-1.67%), Sesa Sterlite Ltd. (Rs. 305.85,-1.51%), Hindalco Industries Ltd. (Rs. 171.50,-1.29%), were among the notable losers on BSE.

Following the metal index, BSE_CGS index was at 16504.42 down by 169.35 points or by 1.02 per cent. ABB India Ltd. (Rs. 1116.00,-2.04%), Alstom India Ltd. (Rs. 518.00,-1.97%), Va Tech Wabag Ltd. (Rs. 1435.00,-1.84%), Larsen & Toubro Ltd. (Rs. 1730.00,-1.28%), Crompton Greaves Ltd. (Rs. 202.25,-1.25%), were among the others dragging the market.