Key indices were just a tad higher for the day after seeing a narrow movement in mid-morning trade. The market breadth indicating the overall health of the market turned negative from positive. The barometer index, the S&P BSE Sensex, was currently up 10 points or 0.04% at 26,447.25. IT stocks edged higher. TCS gained after the company announced a partnership with Cloudera, a leader in enterprise analytic data management powered by Apache Hadoop
Earlier, key indices had recovered soon after a weak start.
Asian stocks declined in volatile trade. Brent crude prices rose for the second day in a row ahead of weekly US oil inventory data from the American Petroleum Institute.
At 11:20 IST, the S&P BSE Sensex was up 10 points or 0.04% at 26,447.25. The index rose 44.95 points at the day's high of 26,481.97 in morning trade. The index dropped 105.19 points at the day's low of 26,331.83 in early trade, its lowest level since 21 August 2014.
The CNX Nifty was up 0.90 points or 0.01% to 7,907.20. The index hit a high of 7,915.45 in intraday trade. The index hit a low of 7,871.65 in intraday trade, its lowest level since 21 August 2014.
The market breadth indicating the overall health of the market turned negative from positive in mid-morning trade. On BSE, 1,318 shares fell and 1,050 shares rose. A total of 77 shares were unchanged.
The BSE Mid-Cap index was up 15.07 points or 0.16% at 9,296.71, outperforming the Sensex. The BSE Small-Cap index was down 26.94 points or 0.26% at 10,228.44, underperforming the Sensex.
More From This Section
IT stocks edged higher. Infosys (up 0.1%), HCL Technologies (up 0.96%), Tech Mahindra (up 1.66%) and Wipro (up 0.82%) gained.
TCS gained 1% after the company after market hours on Monday, 25 August 2014, announced a partnership with Cloudera, a leader in enterprise analytic data management powered by Apache Hadoop, certifying TCS' global team of Big Data experts through the Cloudera Certified Professional (CCP) program. TCS' products are also validated through the Cloudera Certified Technology Program (CCTP), which was created to simplify technology buyers' adoption of Apache Hadoop platforms and applications that have been tested, validated and certified to work with a Cloudera enterprise data hub.
Reliance Industries (RIL) fell 0.75% to Rs 988.90. The stock was volatile. The stock hit high of Rs 997.20 and low of Rs 987 so far during the day. The company clarified during market hours with respect to news item captioned "HPCL eyes tie-up with Reliance to expand oil retailing biz", that several business opportunities are pursued from time to time as part of normal business. As and when any material opportunities consummate, the company will make appropriate disclosures, RIL said.
HPCL dropped 0.81%. HPCL in its own clarificaiton issued after market hours on Monday, 25 August 2014, said that at this stage, it is too preliminary to comment on this subject news item.
Reliance Power declined 4.42%. The company said during market hours that the fifth 660 megawatts (MW) unit of the 3,960 MW Sasan Ultra Mega Power Plant (UMPP) has commenced power generation thus making 3,300 MW capacity operational at the project. The last unit is in advanced stages of construction and will be commissioned over the next few months. Reliance Power's generation capacity has increased to 5,185 MW which includes 5,100 MW of thermal capacity and 85 MW of renewable energy based capacity. Coal production has already commenced from the 20 million tonnes Moher and Moher-Amlohri coal mines associated with the power project.
Sunil Hitech Engineers rose 1.91% after the company bagged new orders aggregating to Rs 137.56 crore. The company made the announcement after market hours on Monday, 25 August 2014.
The market may remain volatile this week as traders roll over positions in the futures & options (F&O) segment from the near month August 2014 series to September 2014 series. The near-month August 2014 F&O contracts expire on Thursday, 28 August 2014.
Foreign portfolio investors (FPIs) bought shares worth a net Rs 127.33 crore on Monday, 25 August 2014, as per provisional data from the stock exchanges.
The Supreme Court on Monday, 25 August 2014, deemed all coal block allocations made since 1993 as illegal. The allocations had no objective criteria and no fair and transparent procedure was followed, the Court said, adding they were impermissible. The quashing of these allocations still remains to be decided in further hearings. The court suggested the appointment of a panel of retired apex court judges to help the court in this matter. The case will be heard on 1 September next.
Brent crude prices rose for the second day in a row ahead of weekly US oil inventory data from the American Petroleum Institute. Brent for October settlement was up 13 cents at $102.78 a barrel. The contract rose 36 cents to settle at $102.65 a barrel on Monday, 25 August 2014.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 60.485, compared with its close of 60.565 on Monday, 25 August 2014.
Asian stocks declined in volatile trade today, 26 August 2014. Key benchmark indices in Indonesia, Japan, Singapore, Taiwan, Hong Kong and China fell 0.01% to 0.65%. South Korea's Kospi rose 0.41%.
Trading in US index futures indicated that the Dow could fall 6 points at the opening bell on Tuesday, 26 August 2014. US stocks gained on Monday, 25 August 2014, with S&P 500 index closing at a record high and moving above 2,000 mark in intraday trade for the first time, buoyed by activity and hints of more stimulus from the European Central Bank.
Powered by Capital Market - Live News