 "Markets firm; oil & gas, banks gain")
Markets were firm in noon trades with the Nifty hovering around 7,700 levels and the Sensex added 130 points to trade at 25,773.
Gains in index heavyweights like Reliance Industries and banks supported in the benchmark indices and helped offset the losses in Infosys, ONGC and Tata Motors.
The BSE Small-cap index up 1%, emerged as the top performer among the sectoral indices as foreign institutional investors continue to focus on fundamentally sound shares in the broader market that are available at attractive valuations.
Foreign institutional investors (FIIs) who have pumped over $12 billion (Rs 70,276 crore) in Indian equities year-till-date (YTD), have increased their stake in more than 150 mid-and small-sized companies during the April - June 2014 quarter. A bulk of their investment, nearly 50% of inflow thus far, has been allocated to the mid-and small-caps in the June quarter.
The Indian rupee was trading higher at Rs 60.22 against Friday's close of Rs 60.28 tracking losses in the US dollar compared to other Asian currencies. However, upside gains in the rupee are likely to be capped on dollar demand from importers.
Sectors & Stocks
IT, Metal, Power, Realty and Capital Goods indices were in red, down 0.1-0.7%.
Meanwhile, Oil & Gas and FMCG indices added 1% each.
Reliance Ind came off its day's highs amid profit taking and was up 2.6% contributing the most to the Sensex gains. The company reported a better-than-expected 14% year on year jump in net profit at Rs 5,957 crore for the quarter ended June 30, 2014 (Q1). Analysts on an average had expected profit of Rs 5,462 crore for the quarter. The company had profit of Rs 5,237 crore in the same quarter last fiscal.
Axis Bank was up nearly 2% at Rs 2,031 ahead of April-June (Q1) quarter earnings today.
Other Sensex gainers include, HDFC, ITC, M&M and ICICI Bank among others.
Among the ones in red were Tata Power, Infosys and Gail India, all down 1% each.
BHEL, SBI, MTPC, ONGC, Tata Motors and Baja Auto which slipped 0.6-0.8% were the other prominent losers.
The market breadth was positive on BSE. 1719 stocks advanced while 1154 stock declined.
Among other shares, Suzlon Energy rose nearly 5% to Rs 26 on the BSE on the reports following government's move to re-introduce the accelerated depreciation scheme for the wind energy sector.
Financial Technologies surged 5.3% to Rs 282 after the company announced that it has entered into a share purchase agreement (SPA) to sell its 15% stake in MCX to Kotak Mahindra Bank for Rs 459 crore.
Greenply Industries was up nearly 12% at Rs 900 extending its Friday rally which was triggered after the company posted robust Q1 results. Greenply Industries' net profit surged 33.9% to Rs 30.23 crore on 7.5% growth in net sales to Rs 516.74 crore in Q1 June 2014 over Q1 June 2013.
Global Markets
Most Asian stock markets edged higher on Monday as investors set aside geopolitical concerns for the moment to focus on the generally upbeat flow of U.S. corporate earnings ahead of a host of results due this week.
Volumes were very light as Japanese markets took a holiday. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3%, with modest increases for most markets across Asia.
European shares were also trading with marginal losses as the geopolitical tensions in Ukraine continued to weigh on investor sentiment.. All the major markets were weak with CAC, DAX and FTSE down 0.3-1%.
Gains in index heavyweights like Reliance Industries and banks supported in the benchmark indices and helped offset the losses in Infosys, ONGC and Tata Motors.
The BSE Small-cap index up 1%, emerged as the top performer among the sectoral indices as foreign institutional investors continue to focus on fundamentally sound shares in the broader market that are available at attractive valuations.
Also Read
At teh same time, the midcap index was up nearly 0.7%.
Foreign institutional investors (FIIs) who have pumped over $12 billion (Rs 70,276 crore) in Indian equities year-till-date (YTD), have increased their stake in more than 150 mid-and small-sized companies during the April - June 2014 quarter. A bulk of their investment, nearly 50% of inflow thus far, has been allocated to the mid-and small-caps in the June quarter.
The Indian rupee was trading higher at Rs 60.22 against Friday's close of Rs 60.28 tracking losses in the US dollar compared to other Asian currencies. However, upside gains in the rupee are likely to be capped on dollar demand from importers.
Sectors & Stocks
IT, Metal, Power, Realty and Capital Goods indices were in red, down 0.1-0.7%.
Meanwhile, Oil & Gas and FMCG indices added 1% each.
Reliance Ind came off its day's highs amid profit taking and was up 2.6% contributing the most to the Sensex gains. The company reported a better-than-expected 14% year on year jump in net profit at Rs 5,957 crore for the quarter ended June 30, 2014 (Q1). Analysts on an average had expected profit of Rs 5,462 crore for the quarter. The company had profit of Rs 5,237 crore in the same quarter last fiscal.
Axis Bank was up nearly 2% at Rs 2,031 ahead of April-June (Q1) quarter earnings today.
Other Sensex gainers include, HDFC, ITC, M&M and ICICI Bank among others.
Among the ones in red were Tata Power, Infosys and Gail India, all down 1% each.
BHEL, SBI, MTPC, ONGC, Tata Motors and Baja Auto which slipped 0.6-0.8% were the other prominent losers.
The market breadth was positive on BSE. 1719 stocks advanced while 1154 stock declined.
Among other shares, Suzlon Energy rose nearly 5% to Rs 26 on the BSE on the reports following government's move to re-introduce the accelerated depreciation scheme for the wind energy sector.
Financial Technologies surged 5.3% to Rs 282 after the company announced that it has entered into a share purchase agreement (SPA) to sell its 15% stake in MCX to Kotak Mahindra Bank for Rs 459 crore.
Greenply Industries was up nearly 12% at Rs 900 extending its Friday rally which was triggered after the company posted robust Q1 results. Greenply Industries' net profit surged 33.9% to Rs 30.23 crore on 7.5% growth in net sales to Rs 516.74 crore in Q1 June 2014 over Q1 June 2013.
Global Markets
Most Asian stock markets edged higher on Monday as investors set aside geopolitical concerns for the moment to focus on the generally upbeat flow of U.S. corporate earnings ahead of a host of results due this week.
Volumes were very light as Japanese markets took a holiday. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3%, with modest increases for most markets across Asia.
European shares were also trading with marginal losses as the geopolitical tensions in Ukraine continued to weigh on investor sentiment.. All the major markets were weak with CAC, DAX and FTSE down 0.3-1%.