Key benchmark indices edged higher in early trade. The barometer index, the S&P BSE Sensex was currently up 143.42 points or 0.52% at 27,692.95. The market breadth indicating the overall health of the market was strong. IT and realty stocks gained.
Hindalco Industries dropped ahead of its Q1 results today, 14 August 2015.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 625.90 crore yesterday, 13 August 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 545.86 crore yesterday, 13 August 2015, as per provisional data.
In overseas markets, Asian stocks were mixed. US stocks closed mostly lower yesterday, 13 August 2015, following a choppy session marked by narrow gains and losses, as readings on retail sales and jobless claims suggested the US economy is on healthy footing.
At 9:25 IST, the S&P BSE Sensex was up 143.42 points or 0.52% at 27,692.95. The index gained 162.03 points at the day's high of 27,711.56 in early trade. The index rose 98.06 points at the day's low of 27,647.59 in early trade.
The CNX Nifty was up 34.45 points or 0.41% at 8,390.30. The index hit a high of 8,409.20 in intraday trade. The index hit a low of 8,381.20 in intraday trade.
Also Read
The market breadth indicating the overall health of the market was strong. On BSE, 856 shares gained and 540 shares fell. A total of 45 shares were unchanged.
The BSE Mid-Cap index was up 86.30 points or 0.77% at 11,276.36. The BSE Small-Cap index was up 60.80 points or 0.53% at 11,628.44. Both these indices outperformed the Sensex.
Bharti Airtel rose 1.05%. With reference to the media reports captioned Airtel eyes BSNL's spectrum, Bharti Airtel after market hours yesterday, 13 August 2015 clarified that the company in ordinary course of business has written a letter to BSNL expressing its preliminary interest for entering into intra circle roaming arrangements with BSNL.
Hindalco Industries dropped 0.83% ahead of its Q1 results today, 14 August 2015.
On macro front, the government will release data on inflation based on the wholesale price index (WPI) for July 2015 at around 12:00 noon today, 14 August 2015. The WPI inflation continued to be in negative zone for the eighth straight month in June 2015. The WPI inflation stood at negative 2.4% in June 2015, unchanged from the level in May 2015. Due to a large base effect, inflation based on the consumer price index (CPI) eased sharply last month. CPI inflation eased to 3.78% in July 2015 from 5.4% in June 2015, according to the data released by the Ministry of Statistics & Programme Implementation after trading hours on 12 August 2015.
Meanwhile, investors continue to watch the progress of the monsoon rains which will have a bearing on food prices and rural income. India's weather office, the India Meteorological Department (IMD), said in a daily report issued yesterday, 13 August 2015, that for the country as a whole, cumulative rainfall during this year's monsoon season was 9% below the Long Period Average (LPA) until 13 August 2015. Region wise, the rainfall was 20% below the LPA in South Peninsula, 13% below the LPA in East & Northeast India, 8% below the LPA in Central India and 1% above the LPA in Northwest India until 13 August 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 markets, Asian stocks were mixed today, 14 August 2015. Key indices in China, Hong Kong, South Korea, and Singapore were up 0.13% to 0.83%. Key indices in Indonesia, Taiwan and Japan fell by 0.1% to 0.48%.
Investors awaited today's yuan fixing to see if China's central bank would set its official guidance rate lower for a fourth day. The People's Bank of China (PBOC) set its rate nearly 2 percent lower on Tuesday, 11 August 2015 a move it said was aimed at making its foreign exchange system more responsive to market forces. The PBOC reassured investors on Thursday, 13 August 2015 saying there was no reason for the yuan to fall further given the country's strong economic fundamentals, helping to calm investors who pared holdings of risk assets for fear of a currency war.
US stocks closed mostly lower yesterday, 13 August 2015, following a choppy session marked by narrow gains and losses, as readings on retail sales and jobless claims suggested the US economy is on healthy footing.
On macro front, US retail sales rose in July and were revised up for June, while the trend of weekly jobless claims pointed to a tightening job market.
Powered by Capital Market - Live News