A bout of volatility was witnessed as key benchmark indices extended intraday gains and hit fresh intraday high in afternoon trade. The S&P BSE Sensex was up 89.50 points or 0.48%, off 34.32 points from the day's high and up 132.71 points from the day's low. The market breadth, indicating the overall health of the market, was strong.
Index heavyweight and cigarette maker ITC edged higher. Another index heavyweight RIL declined. Pharma major Sun Pharmaceutical Industries dropped ahead of its Q1 results tomorrow, 9 August 2013. Capital goods stocks were in demand on renewed buying.
A bout of initial volatility was witnessed as key benchmark indices alternately moved between the gains and losses near the flat line. Volatility continued in morning trade. The Sensex hovered in positive terrain in mid-morning trade. The market retained positive zone in early afternoon trade. A bout of volatility was witnessed as key benchmark indices extended intraday gains and hit fresh intraday high in afternoon trade.
At 13:18 IST, the S&P BSE Sensex was up 89.50 points or 0.48% to 18,754.38. The index rose 123.82 points at the day's high of 18,788.70 in afternoon trade. The index fell 43.21 points at the day's low of 18,621.67 in early trade.
The CNX Nifty was up 26.70 points or 0.48% to 5,545.80. The index hit a high of 5,563.30 in intraday trade, its highest level since 6 August 2013. The index hit a low of 5,510.05 in intraday trade.
The market breadth, indicating the overall health of the market, was strong. On BSE, 1,255 shares rose and 811 shares fell. A total of 126 shares were unchanged.
The total turnover on BSE amounted to Rs 1008 crore by 13:20 IST.
More From This Section
Among the 30-share Sensex pack, 19 stocks rose and rest of them fell. Hindalco Industries (up 4.21%), Maruti Suzuki India (up 3.38%) and M&M (up 2.63%), edged higher from the Sensex pack.
Wipro (down 2.76%), Dr Reddy's Laboratories (down 1.81%) and SBI (down 1.05%) edged lower from the Sensex pack.
Index heavyweight and cigarette maker ITC rose 0.45%.
Index heavyweight Reliance Industries (RIL) shed 0.76% to Rs 864.40.
Pharma major Sun Pharmaceutical Industries lost 3.5%. The company unveils Q1 results tomorrow, 9 August 2013.
Capital goods stocks were in demand on renewed buying. L&T rose 0.24% to Rs 782.80. The stock had hit a 52-week low of Rs 771.35 in intraday trade on Wednesday, 7 August 2013.
Bharat Heavy Electricals (Bhel) gained 1.86% to Rs 118.05. The stock hit 52-week low of Rs 112.10 in intraday trade on Tuesday, 6 August 2013.
ABB (up 4.41%), BEML (up 7.17%), Crompton Greaves (up 0.68%), Siemens (up 2.54%) and Thermax (up 1.03%) gained.
Eicher Motors jumped 5.85% after consolidated net profit rose 21.54% to Rs 92.32 crore on 4.67% increase in total income to Rs 1,690.98 crore in Q2 June 2013 over Q2 June 2012. The result was announced after market hours on Wednesday, 7 August 2013.
GMDC (up 10.67%), Jaypee Infratech (up 9.62%), Neyveli Lignite Corporation (up 8.9%), United Phosphorus (up 7.72%) were the among the major gainers from the BSE's A group.
The stock market remains closed tomorrow, 9 August 2013, on account of Ramzan Id.
European stocks edged higher on Thursday, 8 August 2013, boosted by encouraging trade data from China, showing both exports and imports climbed more than expected in July. Key benchmark indices in UK, Germany and France were up by 0.1% to 0.3%.
German exports slightly recovered in June from May's sharp decline, official data showed Thursday, but foreign trade remains lackluster amid slack demand from the struggling euro zone and a weakening Chinese growth outlook. Exports of goods, as opposed to services, rose 0.6% in June from May, but declined 2.1% from June 2012, data from the federal statistics office showed, indicating that foreign trade continues to lack momentum.
Exports--traditionally a key driver of economic growth in Europe's largest economy--declined 0.6% in January-June compared with the same period a year earlier, as shipments to the euro zone dropped 3.1%. Imports, meanwhile, declined for the first time in four months. German goods imports in June were down 0.8% on the month and declined 1.2% on the year.
Asian stocks were mostly lower on Thursday, 8 August 2013. Key benchmark indices in China, Japan and Taiwan fell by 0.09% to 1.59%. Key benchmark indices in Hong Kong and South Korea were up 0.29% to 0.3%. Stock markets in Singapore, Indonesia and Malaysia were closed for holidays.
China's exports and imports rebounded in July, exceeding estimates and adding to signs that the world's second-largest economy is stabilizing following a two-quarter slowdown. Shipments abroad rose 5.1% from a year earlier, the General Administration of Customs said in Beijing today. Imports jumped 10.9%, leaving a trade surplus of $17.8 billion.
The Bank of Japan today, 8 August 2013, refrained from adding to unprecedented monetary stimulus after a two-day monetary policy review. Governor Haruhiko Kuroda's board stuck with an April pledge to expand the monetary base by 60 trillion yen to 70 trillion yen ($723 billion) per year, a statement released in Tokyo today showed.
Australian employers unexpectedly cut payrolls in July and unemployment held at an almost four-year high, denting Prime Minister Kevin Rudd's bid for a come-from-behind election win. The number of people employed fell 10,200, the statistics bureau said in Sydney today.
Trading in US index futures indicated that the Dow could gain 41 points at the opening bell on Thursday, 8 August 2013. US stocks lost ground for a third consecutive session on Wednesday on growing uncertainty over when the Federal Reserve will start to wind down its stimulus, which has been a driving force behind the rally in equities this year. Federal Reserve Bank of Cleveland President Sandra Pianalto said on Wednesday that the central bank would be prepared to scale back asset purchases if the labor market remains on the stronger path followed since last fall. Charles Evans, the president of the Federal Reserve Bank of Chicago, said on Tuesday that the Fed would probably scale back its bond-buying program later this year, perhaps beginning as early as next month, depending on economic data. That echoed comments made earlier on Tuesday by Dennis Lockhart, the president of the Federal Reserve Bank of Atlanta.
The US central bank currently buys $85 billion a month in US debt and mortgage-backed securities in a bid to hold interest rates low and encourage economic growth. Federal Reserve Chairman Ben Bernanke has on several occasions stressed that the tapering process is dependent on an improvement in data. Fed's bond-buying program has kept global markets flush with liquidity in recent years.
Powered by Capital Market - Live News