A bout of initial volatility was witnessed as key benchmark alternately swung between positive and negative terrain. The S&P BSE Sensex was up 2.08 points or 0.01%, off close to 25 points from the day's high and up about 30 points from the day's low. The market breadth, indicating the overall health of the market, was strong.
Bharat Heavy Electricals (Bhel) extended Wednesday's losses triggered by the company's weak Q2 results. Sobha Developers rose on good Q2 result. NMDC declined as the stock turned ex-dividend today, 7 November 2013, for the interim dividend of Rs 3 per share for the year ended 31 March 2014 (FY 2014).
Foreign institutional investors (FIIs) bought shares worth a net Rs 271.70 crore on Wednesday, 6 November 2013, as per provisional data from the stock exchanges.
At 9:32 IST, the S&P BSE Sensex was up 2.08 points or 0.01% to 20,897.02. The index rose 28.09 points at the day's high of 20,923.03 in early trade. The index fell 28.06 points at the day's low of 20,866.88 in early trade.
The CNX Nifty was down 0.90 points or 0.01% to 6,214.25. The index hit a high of 6,228.90 in intraday trade. The index hit a low of 6,208.65 in intraday trade.
The market breadth, indicating the overall health of the market, was strong. On BSE, 712 shares rose and 339 shares fell. A total of 40 shares were unchanged.
Among the 30-share Sensex pack, 17 stocks rose and rest of them fell. Jindal Steel & Power (down 1.15%), ICICI Bank (down 0.5%) and L&T (down 0.59%), declined.
More From This Section
Bharat Heavy Electricals (Bhel) extended Wednesday's losses triggered by the company's weak Q2 results. The stock shed 3.81%. The company's net profit fell 64.22% to Rs 455.95 crore on 11.31% decline in total income to Rs 9482.25 crore in Q2 September 2013 over Q2 September 2012. The Q2 result was announced during trading hours on Wednesday, 6 November 2013.
Bhel's order book stood at Rs 102300 crore as on 30 September 2013.
NMDC declined 1.66% as the stock turned ex-dividend today, 7 November 2013, for the interim dividend of Rs 3 per share for the year ended 31 March 2014 (FY 2014).
Sobha Developers rose 3.55% on good Q2 result. The company's consolidated net profit rose 13% to Rs 56.60 crore on 31% increase in revenue to Rs 545 crore in Q2 September 2013 over Q2 September 2012. The result was announced after market hours on Wednesday, 6 November 2013.
In the foreign exchange market, the rupee edged lower against the dollar in early deals. The partially convertible rupee was hovering at 62.53, compared with its close of 62.39/40 on Wednesday, 6 November 2013. The rupee had declined sharply on Wednesday on sustained dollar demand from state-run banks, leading to speculation that they were buying on behalf of oil refiners.
Asian stocks fell on Thursday, 7 November 2013, before US economic reports and the European Central Bank's policy meeting. Key benchmark indices in Taiwan, China, Japan, Hong Kong and South Korea shed 0.25% to 0.65%. Key benchmark indices in Indonesia and Singapore rose 0.08% to 0.73%.
China's leaders will meet in Beijing on November 9-12 to map out economic policies as the country heads for its slowest annual growth in more than two decades.
Most US stocks rose on Wednesday, 6 November 2013, with the Dow Jones Industrial Average notching another record close, as investors bought into optimism that the Federal Reserve would continue its stimulus longer than thought, ahead of economic reports this week on the economy and the labor market.
Data on US GDP growth for Q3 September 2013 is due for release today, 7 November 2013. The GDP grew 2.5% in Q2 June 2013.
The US government will tomorrow, 8 November 2013, release nonfarm payrolls figures for October 2013. The job data is a key economic indicator that has been watched closely in recent months to see whether the US Federal Reserve will roll back its bond-buying program.
In Europe, the European Central Bank (ECB) holds a monetary policy meeting today, 7 November 2013. The ECB is seen retaining its key policy rate at a record-low 0.5%. The Bank of England will also announce its monetary policy decision today, 7 November 2013.
Powered by Capital Market - Live News