Key benchmark indices sharply pared losses in mid-afternoon trade. The barometer index, the S&P BSE Sensex bounced back after hitting fresh intraday low. The Sensex was currently up 1.39 points or 0.01% at 27,210. The market breadth indicating the overall health of the market was negative. Realty shares were mostly higher. Shares of public sector banks were in demand.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 2,808.27 crore on Wednesday, 24 December 2014, as per provisional data.
In the global market, European market were shut for Christmas holiday. Asian markets edged higher today, 26 December 2014, with some of the key bourses closed for the Christmas holidays.
In the foreign exchange market, the rupee edged lower against the dollar.
Brent crude futures held above $60 a barrel today, 26 December 2014.
At 14:19 IST, the S&P BSE Sensex was up 1.39 points or 0.01% at 27,210. The index fell 117.23 points at the day's low of 27,091.38 in mid-afternoon trade, its lowest level since 18 December 2014. The index jumped 162.02 points at the day's high of 27,370.63 at the onset of trading session.
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The CNX Nifty was up 9.85 points or 0.12% at 8,183.95. The index hit a low of 8,147.95 in intraday trade, its lowest level since 18 December 2014. The index hit a high of 8,234.55 in intraday trade.
The BSE Mid-Cap index was up 29.26 points or 0.29% at 10,103.78. The BSE Small-Cap index was up 8.84 points or 0.08% at 10,901.77. Both theses indices outperformed the Sensex.
The market breadth indicating the overall health of the market was negative. On BSE, 1,364 shares fell and 1,263 shares rose. A total of 129 shares were unchanged.
Realty shares were mostly higher. DLF (up 2.47%), Anant Raj (up 1.69%), Parsvnath Developers (up 1.54%), Indiabulls Real Estate (up 1.18%), Prestige Estates (up 0.97%), Unitech (up 0.93%), Peninsula Land (up 0.46%), Godrej Properties (up 0.20%) and Phoenix Mills (up 0.04%), edged higher. However, Oberoi Realty (down 3.65%), Housing Development and Infrastructure (HDIL) (down 0.66%), Sunteck Realty (down 0.26%) and Sobha (down 0.10%), edged lower.
D B Realty jumped 9.86%. The company said during market hours that DB Woods, Goregaon (East), a development comprising 3 residential towers of 55 stories each and 630 flats, by a subsidiary Company of D B Realty, has received full occupation certificate. The project is the tallest residential development in Mumbai suburbs. The company is proud to report the handover of the development to its customers.
Shares of public sector banks were in demand. Union Bank of India (up 5.13%), Corporation Bank (up 3.86%), Allahabad Bank (up 3.32%), Syndicate Bank (up 2.69%), Bank of India (up 2.54%), Andhra Bank (up 2.37%), Bank of Maharashtra (up 1.81%), Punjab & Sind Bank (up 1.68%), UCO Bank (up 1.58%), United Bank of India (up 1.42%), IDBI Bank (up 1.37%), Punjab National Bank (up 1.21%), Canara Bank (up 1.03%), Dena Bank (up 0.87%), Bank of Baroda (up 0.73%), Central Bank (up 0.45%), Vijaya Bank (up 0.32%) and State Bank of India (up 0.21%), edged higher.
The Ministry of Finance on Wednesday, 24 December 2014, said that Prime Minister Narendra Modi will interact with bankers during two day Bankers Retreat called 'Gyan Sangam' to be held in Pune on 2nd and 3rd January 2015 to prepare a blue print of reform action plan for banking sector. The objectives of this retreat are to create a platform for formal and informal discussions around the issues which are important for banking sector reform.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 63.6525 compared with its close of 63.5250 during the previous trading session.
Brent crude futures held above $60 a barrel today, 26 December 2014. Brent for February settlement was up 39 cents at $60.63 barrel. The contract fell $1.45 a barrel to close at $60.24 a barrel during the previous trading session.
Asian markets edged higher today, 26 December 2014, with some of the key bourses closed for the Christmas holidays. Key benchmark indices in Singapore, Japan, China, South Korea and Taiwan were up 0.08% to 2.77%. Key benchmark indices in Hong Kong and Indonesia were closed for holiday.
Singapore's manufacturing output fell in November as most major sectors dragged and a tepid rise in the production of electronics failed to offset the decline. Output fell 2.8% on year in November, according to preliminary figures released by the government on Friday. That compared with the revised 0.2% contraction in October. Preliminary October data released last month had shown a 0.2% on year rise.
Among slew of economic data in Japan, Japan's exports of cars, trucks and buses declined 11.5% on year in November for the fourth consecutive month, the Japan Automobile Manufacturers Association said Friday. Exports totaled 368,113 vehicles in November, down from 415,997 vehicles in the same month a year earlier, the association said.
Japanese industrial production unexpectedly fell 0.6% in November from the previous month, government data showed, in a sign that the economy is continuing to struggle from a slump triggered by a sales tax increase earlier in the year.
Japanese retail sales rose 0.4% in November from a year earlier, the government said, a sign that household consumption may be starting to recover from a slump in the summer triggered by a sales tax increase in April. Japan's inflation rate continued its slide in November, dragged down to its lowest level in over a year by sharp drops in global oil prices and sagging consumer spending. The on-year growth in core consumer price index in November, stripping out volatile fresh-food prices and a tax increase impact, fell to 0.7% in November from 0.9% the previous month.
Trading in US index futures indicated that the Dow could gain 32 points at the opening bell today, 26 December 2014. US markets remained shut on account of Christmas holiday on Thursday, 25 December 2014.
US stocks closed flat in a short session on Wednesday, 24 December 2014, as investors found few reasons to push major indexes to their sixth straight day of gains. The S&P 500 erased earlier gains and closed down less than a point at 2,081.88 in the Christmas holiday-shortened session, ending its five-day winning streak. But the Dow Jones Industrial Average eked out a 6-point gain to 18,030.21, closing at a record level.
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