Key benchmark indices edged lower amid initial volatility as weakness in Asian stocks weighed on sentiment adversely. The barometer index, the S&P BSE Sensex was down 27.44 points or 0.12%, up about 15 points from the day's low and off close to 60 points from the day's high. The market breadth, indicating the overall health of the market, was positive.
FMCG major Hindustan Unilever rose ahead of its Q4 results today, 28 April 2014. IDFC dropped on weak Q4 results.
Asian stocks fell on Monday as investors weighed company earnings amid prospects for additional sanctions against Russia over the Ukraine crisis.
Foreign institutional investors (FIIs) bought shares worth a net Rs 295.01 crore on Friday, 25 April 2014, as per provisional data from the stock exchanges.
At 9:30 IST, the S&P BSE Sensex was down 27.44 points or 0.12% to 22,660.63. The index fell 44.18 points at the day's low of 22,643.89 in early trade. The index gained 33.29 points at the day's high of 22,721.36 in early trade.
The CNX Nifty was down 13.65 points or 0.2% to 6,769.10. The index hit a low of 6,764.70 in intraday trade. The index hit a high of 6,782.75 in intraday trade.
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The BSE Mid-Cap index rose 26.12 points or 0.35% to 7,399.76. The BSE Small-Cap index rose 29.99 points or 0.39% to 7,627.33. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On BSE, 639 shares gained and 344 shares fell. A total of 40 shares were unchanged.
Among the 30-share Sensex pack, 14 stocks gained and rest of them declined. Axis Bank (up 0.95%), Cipla (up 0.88%) and Dr. Reddy's Laboratories (up 0.8%) edged higher from the Sensex pack.
FMCG major Hindustan Unilever rose 0.49% ahead of its Q4 results today, 28 April 2014.
IDFC dropped 2.59% on weak Q4 results. The company's consolidated net profit declined 50.93% to Rs 257.94 crore on 0.05% growth in total income to Rs 2219.57 crore in Q4 March 2014 over Q4 March 2013. The result was announced after market hours on Friday, 25 April 2014.
IDFC's consolidated net profit declined 1.82% to Rs 1802.68 crore on 7.87% growth in total income to Rs 8790 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).
IDFC's board of directors at its meeting held on Friday, 25 April 2014, recommended dividend of Rs 2.60 per share for FY 2014.
Yes Bank rose 0.97%. With reference to the news item appearing in a financial daily on 23 April 2014 titled "L&T Fin in talks with Yes Bank on stake buy", Yes Bank after market hours on Friday, 25 April 2014, said that the bank does not comment on speculative news appearing in the media. Yes Bank further said that the bank keeps on evaluating capital raising alternatives, and has obtained approval of the board of directors to raise equivalent of $500 of fresh capital in the course of FY 2014-15. The investors/stock exchanges will be informed as and when capital raising plans are finalised in FY 2014-15, Yes Bank said.
The Reserve Bank of India (RBI) next undertakes monetary policy review on 3 June 2014. The RBI left its main lending rate viz. the repo rate unchanged at 8% after a monetary policy review on 1 April 2014, as consumer-price inflation eased to a two-year low and as the rupee firmed up against the dollar.
A major near term trigger for the stock market is the outcome of the upcoming Lok Sabha elections. The 36 days long voting process began on 7 April 2014 and will conclude on 12 May 2014. The results will be declared on 16 May 2014 after which India will get a new government. The term of the current Lok Sabha expires on 1 June and the new House has to be constituted by 31 May.
Asian stocks fell on Monday as investors weighed company earnings amid prospects for additional sanctions against Russia over the Ukraine crisis. Key benchmark indices in Japan, China, Indoensia, Hong Kong and Singapore were off 0.09% to 1.23%. Key benchmark indices in South Korea and Taiwan were up 0.17% to 0.27%.
US stocks declined on Friday, 25 April 2014 as investors tracked escalating tension in Ukraine, with the geopolitical strife overshadowing upbeat results from Microsoft.
The Federal Open Market Committee (FOMC) next undertakes monetary policy review at a two-day meeting on 29-30 April 2014. The Federal Reserve on 19 March 2014 decided after the conclusion of a monetary policy review to trim its monthly bond purchases by $10 billion to $55 billion.
The US and European Union will impose new sanctions on Russia amid the detention of international observers by pro-Russian separatists. Russia is one of the world's biggest nickel producers and is the fifth-largest wheat exporter, followed by Ukraine.
Russia has stoked tensions in Ukraine by threatening military maneuvers and by taking "no concrete steps" to implement an April 17 accord meant to diffuse the crisis, the Group of Seven nations -- the US, Japan, Canada, the UK, France, Germany and Italy -- said in an April 25 statement.
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