A bout of volatility was witnessed as key benchmark indices trimmed losses after slipping into the red after opening higher. The barometer index, the S&P BSE Sensex was currently down 42.78 points or 0.16% at 26,377.89. The market breadth indicating the overall health of the market was positive.
Ashok Leyland rose after the company said it has completed the sale of the residual section of one of its residential properties at Chennai as part of its strategy to sell non-core assets. Glenmark Pharmaceuticals jumped after the company said it has entered oncology with the discovery and initiation of IND enabling studies of an innovative bispecific antibody. Grasim Industries fell as the stock turned ex-dividend today, 20 August 2014, for dividend of Rs 21 per share for the year ended 31 March 2014.
At 9:21 IST, the S&P BSE Sensex was down 42.78 points or 0.16% to 26,377.89. The index rose 83.85 points at the day's high of 26,504.52 in early trade. The index fell 43.57 points at the day's low of 26,377.10 in early trade.
The CNX Nifty was down 9.95 points or 0.13% to 7,887.55. The index hit a high of 7,922.70 in intraday trade. The index hit a low of 7,881.25 in intraday trade.
The market breadth indicating the overall health of the market was positive. On BSE, 842 shares gained and 581 shares fell. A total of 60 shares were unchanged.
The BSE Mid-Cap index was down 2.91 points or 0.03% at 9,267.95. The BSE Small-Cap index was up 31.70 points or 0.31% at 10,200.50. Both these indices outperformed the Sensex.
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Glenmark Pharmaceuticals jumped 3.55%. The company said before market hours it has entered oncology with the discovery and initiation of IND enabling studies of an innovative bispecific antibody.
Ashok Leyland rose 0.26% after the company said after market hours on Tuesday, 19 August 2014, that it has completed the sale of the residual section of one of its residential properties at Chennai as part of its strategy to sell non-core assets. With this transaction, the sale of the entire property stands completed, for a total consideration of Rs 210 crore the proceeds of which has since been received by the company fully, company said.
Grasim Industries fell 0.38% as the stock turned ex-dividend today, 20 August 2014, for dividend of Rs 21 per share for the year ended 31 March 2014.
India's macroeconomic worries have eased on falling crude oil prices. India imports about 80% of its crude oil requirement. Brent crude oil futures steadied near 14-month lows above $101 a barrel today, 20 August 2014, with ample supplies putting prices at risk of further losses as worries over geopolitical tensions ease. The October Brent crude contract was down 4 cents at $101.52 a barrel.
Foreign portfolio investors (FPIs) bought shares worth a net Rs 559.39 crore on Tuesday, 19 August 2014, as per provisional data from the stock exchanges.
Most Asian stocks rose today, 20 August 2014 after strong US housing data lifted US stocks on Tuesday, 19 August 2014. Key benchmark indices in Taiwan, Singapore, Hong Kong, and Indonesia rose 0.11% to 0.43%. Key benchmark indices in China, Japan and South Korea fell 0.02% to 0.14%.
US stocks ended higher for the second straight session on Tuesday, 19 August 2014, on robust housing data and strong earnings from Dow component Home Depot overshadowed lingering concerns about the conflict in Ukraine.
Housing starts posted their strongest rebound in eight months in July, topping expectations and adding another data point to suggest optimism is returning among homebuilders.
The minutes from the last Federal Open Market Committee meeting will be released today, 20 August 2014. Federal Reserve Chairwoman Janet Yellen will give a speech on Friday, 22 August 2014, at the annual Fed summit in Jackson Hole, Wyo.
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