Key benchmark indices were highly volatile in early trade. The barometer index, the S&P BSE Sensex was currently up 20.97 points or 0.08% at 27,664.85. The market breadth indicating the overall health of the market was positive.
Tech Mahindra, Bharat Heavy Electricals and Tata Motors dropped in early trade ahead of their Q4 results today, 26 May 2015.
Indian stocks may remain volatile this week as traders roll over positions in the futures & options (F&O) segment from the near month May 2015 series to June 2015 series. The near month May 2015 F&O contracts expire on Thursday, 28 May 2015.
Foreign portfolio investors bought shares worth a net Rs 74.14 crore yesterday, 25 May 2015, as per provisional data. Domestic institutional investors (DIIs) bought shares worth a net Rs 0.17 crore yesterday, 25 May 2015, as per provisional data released by the stock exchanges.
In the overseas market, Asian stocks were higher today, 26 May 2015. US stock markets were closed yesterday, 25 May 2015, for the Memorial Day Holiday.
At 9:20 IST, the S&P BSE Sensex was up 20.97 points or 0.08% at 27,664.85. The index rose 32.06 points at the day's high of 27,675.94 in early trade. The index lost 40.86 points at the day's low of 27,603.02 in early trade.
The CNX Nifty was up 3 points or 0.04% at 8,373.25. The index hit a high of 8,378.90 in intraday trade. The index hit a low of 8,360.55 in intraday trade.
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The BSE Mid-Cap index was up 29.73 points or 0.28% at 10,640.84. The BSE Small-Cap index was up 16.97 points or 0.15% at 11,200.35. Both these indices outperformed the Sensex.
The market breadth indicating the overall health of the market was positive. On BSE, 666 shares rose and 490 shares fell. A total of 48 shares were unchanged.
Bharat Heavy Electricals (Bhel) dropped ahead of Q4 March 2015 results today, 26 May 2015. The stock was off 1.39% at Rs 231.
Tata Motors declined in early trade ahead of its Q4 March 2015 results today, 26 May 2015. The stock was off 0.63% at Rs 502.
Tech Mahindra declined ahead of Q4 March 2015 results today, 26 May 2015. The stock was off 2.01% at Rs 635.20. Meanwhile, Tech Mahindra announced after market hours yesterday, 25 May 2015, that the board at its meeting to be held today, 26 May 2015, would also consider a scheme of amalgamation of Tech Mahindra BPO and New vC Services with Tech Mahindra.
GAIL (India) rose 1.14% at Rs 390.65. GAIL (India) announced after market hours yesterday, 25 May 2015, that as a first step to usher in commencement of project work on the first phase of Jagdishpur-Haldia Pipeline, Dharmendra Pradhan, Union Minister of State (Independent Charge) for Petroleum and Natural Gas inaugurated the project office in Patna yesterday, 25 May 2015. Jagdishpur-Haldia Pipeline has been heralded onto the national agenda as part of Government of India's vision of doubling the Natural Gas Pipeline network to over 30,000 km in next 5 years. Aptly termed, "Urfa Ganga" for Eastern India, this pipeline paves way for maiden entry of natural gas supplies into Bihar, Jharkhand and West Bengal. The construction office will serve as a nodal centre to facilitate the company's construction activities for Jagdishpur- Haldia Pipeline.
The Jagdishpur-Haldia natural gas pipeline will serve as the 'Energy Highway' to carry the environment-friendly fuel to four states i.e. Eastern Uttar Pradesh, Bihar, Jharkhand and West Bengal. Presently, GAIL is taking up the first phase of this Pipeline which involves laying of approximately 750 km of Pipeline at an estimated expenditure of Rs. 3957 crore. The capacity of Phase-I Pipeline is 7.4 MMSCMD and that of entire Jagdishpur - Haldia Pipeline will be 16 MMSCMD.
While supplying gas to anchor load customers like Gorakhpur & Barauni Fertilizer Plants and Barauni Refinery, the first phase of the Pipeline will also cater to domestic needs through CGD development in cities like Varanasi and Patna when the authorizations for the same are accorded by Petroleum & Natural Gas Regulatory Board (PNGRB). 413 km of pipeline will be laid in Bihar covering 9 districts (Kaimur, Rohtas, Aurangabad, Gaya, Nalanda, Patna, Sheikhpura, Lakhisarai and Begusarai) in first phase and additional 200 km of Pipeline covering four more districts (Chappra, Siwan, Gopalganj and West Champaran) will be laid in subsequent phases.
In the overseas market, Asian stocks were higher today, 26 May 2015. Key indices in China, Japan, Hong Kong, Singapore, Taiwan, and Indonesia were up 0.03% to 1.58%. In South Korea, the Kospi was off 0.06%.
US stock markets were closed yesterday, 25 May 2015, for the Memorial Day Holiday.
Federal Reserve Vice Chairman Stanley Fischer said yesterday, 25 May 2015 that central bankers are weighing the risk of raising interest rates prematurely against the danger of having to play catch-up if they wait too long.
In Europe, Greece intends to keep repaying its debt, a government spokesman reportedly said yesterday, 25 May 2015, days after Interior Minister Nikos Voutsis warned it had run out of funds.
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