Key benchmark indices remained firm in mid-afternoon trade. The barometer index, the S&P BSE Sensex, was up 281.31 points or 1.12%, up close to 200 points from the day's low and off about 25 points from the day's high. The market breadth indicating the overall health of the market was strong, with more than two gainers for every loser on BSE. The BSE Mid-Cap index was up 1.68%. The BSE Small-Cap index was up 1.58%. Both these indices outperformed the Sensex. A decline in crude oil prices boosted market sentiment. Today being the last day of the quarter, there was a buzz of buying by mutual funds for window dressing.
IndusInd Bank rose after the bank announced the launch of its Tractor and farm Equipment (TFE) finance vertical across the country to cater to the growing financial needs of agricultural community. Shares of decoratives paint major Asian Paints hit record high.
At 14:20 IST, the S&P BSE Sensex was up 281.31 points or 1.12% to 25,381.23. The index jumped 307.06 points at the day's high of 25,406.98 in early afternoon trade, its highest level since 25 June 2014. The index rose 79.63 points at the day's low of 25,179.55 in opening trade.
The CNX Nifty was up 92.05 points or 1.23% to 7,600.85. The index hit a high of 7,605.95 in intraday trade, its highest level since 19 June 2014. The index hit a low of 7,531.60 in intraday trade.
The market breadth indicating the overall health of the market was strong, with more than two gainers for every loser on BSE. On BSE, 1,970 shares gained and 903 shares fell. A total of 124 shares were unchanged.
The BSE Mid-Cap index was up 154.68 points or 1.68% at 9,359.85. The BSE Small-Cap index was up 157.90 points or 1.58% at 10,180.19. Both these indices outperformed the Sensex.
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Among the 30-share Sensex pack, 27 stocks gained and only three of them declined.
IndusInd Bank rose 0.58% to Rs 573.65. The bank today, 30 June 2014, announced the launch of its Tractor and farm Equipment (TFE) finance vertical across the country to cater to the growing financial needs of agricultural community. On the occasion of the launch, the bank announced various flexible schemes to the rural populace, which will encourage easy payment options from time to time with hassle free documentation.
Separately, the bank announced its plans to further strengthen its presence and customer reach in Maharashtra. The bank announced that it has opened a branch eaich in Navi Mumbai, Solapur and Karanje Tarf area of Satara.
Asian Paints rose 1.68% to Rs 593.35 after hitting record high of Rs 595.25 in intraday trade.
Shares of Dr Reddy's Laboratories rose 2.05% to Rs 2,605.60. The company during trading hours on Friday, 27 June 2014, announced that it has launched Duloxetine Delayed-Release Capsules USP 20 mg, 30 mg and 60 mg, a therapeutic equivalent generic version of CYMBALTA (Duloxetine Delayed-Release Capsules) in the US market on 26 June 2014. The CYMBALTA brand and its generic version had US sales of approximately $5.04 billion for twelve months ended 30 April 2014, according to IMS Health data.
The Sensex moved higher in early trade tracking gains in Asian stocks. Key benchmark indices extended initial gains and hit fresh intraday high in morning trade. Firmness continued on the bourses in mid-morning trade. Key benchmark indices remained firm after hitting fresh intraday high in early afternoon trade. The 50-unit CNX Nifty hit 1-1/2-week high. Firmness prevailed on the bourses in afternoon trade. The Sensex remained firm in mid-afternoon trade.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 60.0525, compared with its close of 60.085/095 on Friday, 27 June 2014.
Oil prices edged lower adding to last week's fall as supply disruption fears from Iraq eased as government forces launched a pushback against a Sunni militant takeover of large areas of the country. Brent crude oil futures for August delivery were off 62 cents at $112.68 a barrel.
As crude prices dropped, concerns arising from the impact of high crude oil prices on India's macroeconomic situation eased. India imports about 80% of its crude oil requirements.
European stocks advanced on Monday, 30 June 2014, as investors awaited data on US home sales later in the global day. Key benchmark indices in UK, France and Germany were up 0.11% to 0.43%.
Asian stocks edged higher on Monday, 30 June 2014 ahead of packed week of economic data that will test investor hopes for a pick up in the US and global economy. Key benchmark indices in Japan, Indonesia, China, South Korea and Taiwan were up 0.44% to 0.93%. Key benchmark indices in Singapore and Hong Kong fell by 0.13% to 0.65%.
Trading in US index futures indicated a flat opening of US stocks on Monday, 30 June 2014. US stocks ended modestly higher on Friday, 27 June 2014, led by technology shares, though downbeat second-quarter and full-year forecasts from DuPont Co kept a lid on gains.
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