Key benchmark indices once again trimmed gains after extending intraday gains in afternoon trade. The barometer index, the S&P BSE Sensex, was up 93.55 points or 0.36%, off 69.29 points from the day's high and up 59.46 points from the day's low. The market breadth indicating the overall health of the market was negative. BSE Small-Cap and Mid-Cap indices were, both, in red.
Hindalco Industries hit 52-week high as aluminum prices surged on London Metal Exchange (LME). PSU OMCs edged higher as crude oil prices declined. Yes Bank fell after declaring Q1 result.
At 13:15 IST, the S&P BSE Sensex was up 93.55 points or 0.36% to 26,119.35. The index jumped 162.84 points at the day's high of 26,188.64 in morning trade, its highest level since 8 July 2014. The index rose 34.09 points at the day's low of 26,059.89 in mid-morning trade.
The CNX Nifty was up 20.95 points or 0.27% to 7,788.80. The index hit a high of 7,809.20 in intraday trade, a lifetime high for the index. The index hit a low of 7,768.40 in intraday trade.
The market breadth indicating the overall health of the market was negative. On BSE, 1,610 shares fell and 1,142 shares rose. A total of 96 shares were unchanged.
The BSE Mid-Cap index was down 11.59 points or 0.12% at 9,299.50. The BSE Small-Cap index was down 61.31 points or 0.6% at 10,207.45. Both these indices underperformed the Sensex.
More From This Section
The total turnover on BSE amounted to Rs 1690 crore by 13:20 IST.
Among the 30-share Sensex pack, 16 stocks gained and rest of them declined.
Infosys (up 2.25%), TCS (up 1.86%) and Wipro (up 1.48%) edged higher from the Sensex pack.
Tata Steel (down 1.62%), Tata Power Company (down 1.01%) and Axis Bank (down 0.89%) edged lower from the Sensex pack.
Hindalco Industries gained 2.15% to Rs 192.30 after hitting a 52-week high of Rs 193.40 in intraday trade. The stock rose tracking rally in aluminum prices on the London Metal Exchange.
On the London Metal Exchange (LME), aluminum for three-month delivery advanced 1.63% to $2,020.50 a tonne on Tuesday, 22 July 2014. The price has risen 7.16% from a recent closing low of $1,885.50 on 10 July 2014.
The price has risen 9.19% so far in July 2014 (till 22 July 2014). It has risen 14.51% so far in calendar year 2014 (till 22 July 2014).
PSU OMCs edged higher as crude oil prices declined. Indian Oil Corporation (up 0.59%), BPCL (up 1.24%) and HPCL (up 1.42%) edged higher.
Brent crude oil futures for September delivery were down 19 cents or 0.18% to $107.14 a barrel in electronic trading today, 23 July 2014. The contract fell 35 cents to settle at $107.33 a barrel on Monday, 22 July 2014, as oil supplies remained unaffected by continuing violence in Iraq, Ukraine and Gaza.
Lower crude oil prices could decrease under-recoveries of state-run oil marketing companies (PSU OMCs) on domestic sale of diesel, LPG and kerosene at controlled prices. The government has adopted the policy of gradually increasing diesel prices to eliminate under recovery and deregulate the diesel prices. The government has already freed pricing of petrol.
Yes Bank fell 2.01%. The bank during market hours reported 9.63% rise in net profit to Rs 439.48 crore on 9.33% rise in total income to Rs 3105.21 crore in Q1 June 2014 over Q1 June 2013.
Key benchmark indices surged in early trade as firmness in Asian stocks and provisional data showing that foreign funds were net buyers of Indian stocks during the previous trading session on Tuesday, 22 July 2014, boosted sentiment. A bout of volatility was witnessed as key benchmark indices pared gains soon after hitting fresh intraday high in morning trade. The 50-unit CNX Nifty pared gains after hitting record high. The Sensex trimmed gains after hitting its highest level in more than two weeks. Key benchmark indices further pared gains in mid-morning trade. Volatility continued as key benchmark indices recovered from lower level after erasing most of the intraday gains in mid-morning trade. Key benchmark indices once again trimmed gains after extending intraday gains in afternoon trade.
Foreign portfolio investors (FPIs) bought shares worth a net Rs 412.03 crore on Tuesday, 22 July 2014, as per provisional data from the stock exchanges.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 60.16, compared with its close of 60.25 on Tuesday, 22 July 2014.
European stocks edged higher today, 23 July 2014, as risk aversion triggered by recent geopolitical tensions continued to ebb. Key benchmark indices in UK, France and Germany were up 0.05% to 0.27%.
As per reports, the European Union (EU) agreed Tuesday, 22 July 2014, to expand a list of Russian entities and individuals subject to asset freezes and travel bans. The EU's latest sanctions against Russia come amid accusations that pro-Russian rebels shot down Malaysia Airlines flight MH17 in Ukraine on 17 July. All 298 people on the flight died after the downing of the jet. EU has reportedly threatened to expand the sanctions against Russia to include vast sectors of the Russian economy if Russia does not act swiftly to rein in rebels.
Russia's Ambassador to Malaysia, Lyudmila Vorobyeva, said on Tuesday, 22 July 2014, that Russia played no role in the attack and Ukrainian separatists don't have the required long-range anti-aircraft weapons.
In the Middle East, violence continues in Gaza strip. As per reports, more than 600 Palestinians have been killed and over 4,000 wounded as fighting continues between Israel and Palestinian militants in Gaza Strip.
Most Asian stocks edged higher today, 23 July 2014, boosted by better-than-expected inflation and housing reports in the US. Key benchmark indices in Hong Kong, China, Singapore and Indonesia were up 0.14% to 0.76%. Key benchmark indices in Japan and South Korea were off 0.03% to 0.1%. The stock market in Taiwan was closed due to a typhoon.
Trading in US index futures indicated that the Dow could gain 20 points at the opening bell on Wednesday, 23 July 2014. US stocks closed modestly higher on Tuesday, 22 July 2014, boosted by better-than-expected inflation and housing reports as well as a flood of second-quarter earnings reports.
The US consumer price index increased 0.3% in June 2014 after a 0.4% gain in May 2014, figures from the Labor Department showed yesterday, 22 July 2014, in Washington. The data damped concerns that the US Federal Reserve will bring forward increase in interest rates.
Purchases of existing houses advanced 2.6% to a 5.04 million annual rate in June 2014, the National Association of Realtors reported.
Powered by Capital Market - Live News