Volatility ruled the roost as the key benchmark indices regained positive zone after reversing intraday gains to hit intraday low in morning trade. The barometer index, the S&P BSE Sensex was currently up 68.34 points or 0.25% at 27,274.40. The market breadth indicating the overall health of the market was strong with over two gainers for every loser.
Index heavyweight and housing finance major HDFC advanced. Auto stocks were in demand on renewed buying.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 73.76 crore yesterday, 14 May 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 302.57 crore yesterday, 14 May 2015, as per provisional data.
In overseas markets, most Asian stocks edged lower today, 15 May 2015. US stocks ended higher yesterday, 14 May 2015 with the S&P 500 index ringing up a new closing high. The rally for stocks came as US economic reports offered no real clarity on when the Federal Reserve may hike rates for the first time since 2006.
At 10:19 IST, the S&P BSE Sensex was up 68.34 points or 0.25% at 27,274.40. The index gained 173.51 points at the day's high of 27,379.57 in early trade, its highest level since 12 May 2015. The index fell 46.30 points at the day's low of 27,159.76 in morning trade.
The CNX Nifty was up 22.90 points or 0.28% at 8,247.10. The index hit a high of 8,279.20 in intraday trade, its highest level since 12 May 2015. The index hit a low of 8,212.20 in intraday trade.
More From This Section
The market breadth indicating the overall health of the market was strong with over two gainers for every loser. On BSE, 1,242 shares gained and 585 shares fell. A total of 79 shares were unchanged.
The BSE Mid-Cap index was up 59.19 points or 0.56% at 10,586.13. The BSE Small-Cap index was up 96.30 points or 0.88% at 11,068.64. Both these indices outperformed the Sensex.
The total turnover on BSE amounted to Rs 603 crore by 10:15 IST compared with Rs 169 crore by 09:30 IST.
Index heavyweight and housing finance major HDFC advanced 1.56% to Rs 1,227.10. The stock hit high of Rs 1,227.50 and low of Rs 1,206.85 so far during the day.
Auto stocks were in demand on renewed buying. Tata Motors (up 1.28%), Maruti Suzuki India (up 0.19%), Mahindra & Mahindra (M&M) (up 1.36%), Eicher Motors (up 2.42%), Bajaj Auto (up 0.43%), Hero MotoCorp (up 0.48%) and TVS Motor Company (up 0.42%) gained. Ashok Leyland fell 1.82%.
Meanwhile, Prime Minister Narendra Modi is on a three-day visit to China. On first day of his visit yesterday, 14 May 2015, Narendra Modi was received by the President of China, Xi Jinping, at the Shaanxi Guest House. The two leaders held restricted talks.
The India Meteorological Department (IMD) yesterday, 14 May 2015, said that the southwest monsoon is likely to set over Kerala on 30 May, with a model error of plus/minus 4 days. The onset of southwest monsoon over Kerala signals the arrival of monsoon over the Indian subcontinent and represents beginning of rainy season over the region. The IMD has forecast below normal rains during the June-September southwest monsoon season this year.
Most Asian stocks edged lower today, 15 May 2015. Key benchmark indices in China, Indonesia, Singapore, Taiwan and South Korea fell by 0.09% to 1.44%. Key benchmark indices in Hong Kong and Japan rose by 0.48% to 0.49%.
The Bank of Korea's monetary policy board today, 15 May 2015 decided to keep nation's benchmark interest rate steady at the record low of 1.75%. The Bank of Korea had earlier trimmed the rate by 25 basis points from 2% in March.
US stocks ended higher yesterday, 14 May 2015 with the S&P 500 index ringing up a new closing high. The rally for stocks came as US economic reports offered no real clarity on when the Federal Reserve may hike rates for the first time since 2006.
A report on weekly jobless claims unexpectedly declined, pointing to stability in the employment picture, while a measure of inflation suggested that headline inflation is falling below the central bank's 2% target- the target the Fed is looking for before it feels comfortable lifting rates.
In Europe, in a major speech delivered in Washington, European Central Bank President Mario Draghi reportedly hit back at a popular argument that low interest rates, and quantitative easing in particular, not only hurt savers but also benefit the wealthy disproportionately and fuel inequality. The remarks are notable as the criticism of the ECB's action is similar to that faced by the Federal Reserve and other central banks for similar policies. The ECB's main interest rate is just above zero, and it announced it would start buying bonds in September, reports added.
Powered by Capital Market - Live News