Key benchmark indices edged higher in early trade tracking firmness in Asian markets. The market breadth indicating the overall health of the market was quite strong with more than three gainers against every loser on BSE. The barometer index, the S&P BSE Sensex was currently up 152.63 points or 0.56% at 27,468.80.
Indian stocks may remain volatile this week, as traders roll over positions in the futures & options (F&O) segment from the near month June 2015 series to July 2015 series. The near month June 2015 derivatives contracts expire on Thursday, 25 June 2015.
Punjab National Bank dropped as the stock turned ex-dividend today, 22 June 2015, for dividend of Rs 3.30 per share for the year ended 31 March 2015. Infosys advanced after securing multiple orders.
In overseas stock markets, Asian markets were higher today, 22 June 2015, with investors encouraged by signs of a compromise in Greece's debt talks with its creditors. US stocks closed lower on Friday, 19 June 2015, following the Nasdaq's record high as investors eyed developments in the Greece debt negotiations amid quarterly options expirations.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 106.12 crore during previous trading session on Friday, 19 June 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 447.55 crore on Friday, 19 June 2015, as per provisional data.
At 9:17 IST, the S&P BSE Sensex was up 152.63 points or 0.56% at 27,468.80. The index gained 172.07 points at the day's high of 27,488.24 in early trade. The index rose 100.86 points at the day's low of 27,417.03 in early trade.
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The CNX Nifty was up 51.75 points or 0.63% at 8,276.70. The index hit a high of 8,277.85 in intraday trade. The index hit a low of 8,257.40 in intraday trade.
The BSE Mid-Cap index was up 53.81 points or 0.51% at 10,540.93, underperforming the Sensex. The BSE Small-Cap index was up 61.85 points or 0.57% at 11,004.64, outperforming the Sensex.
The market breadth indicating the overall health of the market was quite strong with more than three gainers against every loser. On BSE, 855 shares rose and 253 shares fell. A total of 43 shares were unchanged.
Punjab National Bank dropped as the stock turned ex-dividend today, 22 June 2015, for dividend of Rs 3.30 per share for the year ended 31 March 2015. The stock was off 0.94% at Rs 132.40.
Infosys advanced after securing multiple orders. The stock was up 0.74% at Rs 1,004.10. Infosys after market hours on Friday, 19 June 2015 said that Sharjah Islamic Bank (SIB), a leading Sharia-compliant bank in the Middle East, has selected Infosys' Finacle e-Banking and Mobile Banking solutions to enhance customer service and deliver new-age channel banking experiences. With Finacle, SIB will be able to offer its customers a wide range of features for secure account management and aggregation, fund transfer, payment and financial management, Infosys said in a statement.
Separately, Infosys said after market hours on Friday, 19 June 2015, that Hrvatska Postanska Banka (HPB), a leading state-owned financial institution in Croatia, has selected the Finacle Payments solution to deliver bespoke payment offerings and superior customer experience. The new solution will enable HPB to streamline its payments operations and simultaneously serve its target markets in a cost-effective and flexible manner. The Finacle solution will also help HPB to comply with Single Euro Payments Area (SEPA) requirements and support Croatia's harmonization process with European Union regulations and Payment Service Directive, the company said in a statement.
Meawhile, Infosys also bagged a multi-year IT managed services deal from New York-based wellness company NBTY. As part of the deal, Infosys will provide development and support services for NBTY's IT systems. NBTY is a manufacturer, marketer, distributor and retailer of vitamins and nutritional supplements.
The India Meteorological Department (IMD) said in its daily monsoon update issued yesterday, 21 June 2015, that the southwest monsoon has further advanced into some more parts of Chhattisgarh, remaining parts of Odisha and West Bengal and some parts of Jharkhand. Conditions are favourable for further advance of southwest monsoon into remaining parts of north Arabian sea, Gujarat state, Chhattisgarh, Jharkhand, entire Bihar, Uttarakhand, Himachal Pradesh, Jammu & Kashmir, most parts of Madhya Pradesh and some parts of Uttar Pradesh, Punjab, Haryana, Chandigarh & Delhi and Rajasthan during next 3-4 days, the IMD said. The Southwest monsoon was vigorous over Odisha, Vidarbha, Coastal Andhra Pradesh, Telangana and South Interior of Karnataka and active over Konkan & Goa and Coastal Karnataka during the past 24 hours ending at 830 hrs, the IMD said.
For the country as a whole, the cumulative rainfall during this year's monsoon season was 11% above the Long Period Average (LPA) until 20 June 2015. Region wise, the southwest monsoon was 22% above the LPA in Central India, 20% above the LPA in South Peninsula, 5% above the LPA in East & Northeast India and 13% below the LPA in Northwest India until 20 June 2015.
The June-September southwest monsoon is critical for the country's agriculture because a considerable part of the country's farmland is dependent on the rains for irrigation.
In overseas stock markets, Asian markets were higher today, 22 June 2015, with investors encouraged by signs of a compromise in Greece's debt talks with its creditors. Key indices in Japan, Hong Kong, Taiwan, Singapore and South Korea were up 0.38% to 1.49%. In Indonesia, the Jakarta Composite was off 0.3%. Chinese stock market was shut for a holiday.
US stocks closed lower on Friday, 19 June 2015, following the Nasdaq's record high as investors eyed developments in the Greece debt negotiations amid quarterly options expirations.
European leaders have intensified their efforts to reach a deal over the Greek debt crisis, ahead of an emergency Brussels summit today, 22 June 2015, to break the deadlock. Greece is still struggling to reach a reform agreement with its lenders, which would unlock the next portion of bailout money needed to repay 1.6 billion euros ($1.82 billion) to IMF by the end of June.
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