Key benchmark indices strengthened in afternoon trade. The barometer index, the S&P BSE Sensex, was up 142.18 points or 0.55%, up 67.96 points from the day's low and off 77.41 points from the day's high. The market breadth indicating the overall health of the market was strong. The BSE Mid-Cap index was up 0.98%. The BSE Small-Cap index was up 1.32%. Both these indices outperformed the Sensex. Indian stocks rose today, 21 July 2014, as provisional data showing buying by foreign portfolio investors during the previous trading session and improvement in rainfall last week boosted sentiment on the domestic bourses.
Canara Bank fell after declaring Q1 result during market hours today, 21 July 2014. CRISIL dropped after reporting fall in Q2 consolidated net profit after market hours on Friday, 18 July 2014. Federal Bank rose after 0.23% of the bank's equity changed hands in two bulk deals on BSE today, 21 July 2014. Alembic Pharmaceuticals, Hawkins Cookers, Shriram City Union Finance and Tata Sponge Iron scaled record high. Dishman Pharmaceuticals and Chemicals and Gujarat Flourochemicals hit 52-week high.
At 13:15 IST, the S&P BSE Sensex was up 142.18 points or 0.55% to 25,783.74. The index surged 219.59 points at the day's high of 25,861.15 in morning trade, its highest level since 10 July 2014. The index rose 74.22 points at the day's low of 25,715.78 in mid-morning trade.
The CNX Nifty was up 36.50 points or 0.48% to 7,700.40. The index hit a high of 7,722.10 in intraday trade, its highest level since 10 July 2014. The index hit a low of 7,681.35 in intraday trade.
The market breadth indicating the overall health of the market was strong. On BSE, 1,707 shares rose and 1,013 shares fell. A total of 101 shares were unchanged.
The BSE Mid-Cap index was up 91.09 points or 0.98% at 9,343.89. The BSE Small-Cap index was up 134.61 points or 1.32% at 10,315.45. Both these indices outperformed the Sensex.
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The total turnover on BSE amounted to Rs 1758 crore by 13:15 IST.
Among the 30-share Sensex pack, 16 stocks gained and rest of them declined.
Reliance Industries (up 2.72%), HDFC (up 2.44%) and ITC (up 1.34%) edged higher from the Sensex pack.
Hindalco Industries (down 2.47%), Tata Power Company (down 1.32%) and Infosys (down 1.34%) edged lower from the Sensex pack.
Canara Bank fell 0.38%. The bank reported 1.86% rise in net profit to Rs 806.86 crore on 11.61% rise in total income to Rs 11728.01 crore in Q1 June 2014 over Q1 June 2013. The Q1 result was announced during market hours today, 21 July 2014.
CRISIL lost 3.32%. CRISIL's consolidated net profit declined 4.44% to Rs 57.83 crore on 14.8% growth in income from operations to Rs 305.13 crore in Q2 June 2014 over Q2 June 2013. The Q2 result was announced after market hours on Friday, 18 July 2014.
CRISIL attributed the decline in bottom line during the quarter to adverse foreign exchange movement. The company said that the overall operating environment both in India and globally was challenging with mild signs of recovery in the second quarter of 2014.
Federal Bank rose 0.79% to Rs 126.85. A bulk deal of 10 lakh shares was executed on the Federal Bank scrip at Rs 127 per share at 09:55 IST on BSE. Another bulk deal of 9.91 lakh shares was executed on the scrip at Rs 127.25 per share at 11:47 IST on BSE today, 21 July 2014. The two bulk deals saw 0.23% equity of Federal Bank changing hands on BSE today, 21 July 2014.
Alembic Pharmaceuticals surged 4% to Rs 349.80 after scaling a record high of Rs 349.90 in intraday trade.
Dishman Pharmaceuticals and Chemicals gained 4.83% to Rs 145.35 after hitting a 52-week high of Rs 146.70 in intraday trade.
Gujarat Flourochemicals jumped 7.11% to Rs 545 after hitting a 52-week high of Rs 545.30 in intraday trade.
Hawkins Cookers advanced 4.13% to Rs 3,040 after scaling a record high of Rs 3,045 in intraday trade.
Shriram City Union Finance rose 3.88% to Rs 1,692 after scaling a record high of Rs 1,715 in intraday trade.
Tata Sponge Iron gained 2.99% to Rs 865 after scaling a record high of Rs 877 in intraday trade.
Key benchmark indices surged in early trade as firmness in Asian stocks, provisional data showing buying by foreign portfolio investors during the previous trading session and improvement in rainfall last week boosted sentiment. Key benchmark indices extended initial gains and hit fresh intraday high in morning trade. The Sensex and the 50-unt CNX Nifty, both, hit 1-1/2-week high. A bout of volatility was witnessed as key benchmark indices trimmed gains in mid-morning trade. Key benchmark indices hovered in positive terrain albeit near intraday low in early afternoon trade. Key benchmark indices strengthened in afternoon trade.
The market sentiment was boosted by provisional data showed that foreign portfolio investors were buyers of Indian stocks during the previous trading session. Foreign portfolio investors (FPIs) bought shares worth a net Rs 574.47 crore on Friday, 18 July 2014, as per provisional data from the stock exchanges.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 60.2050, compared with its close of 60.275 on Friday, 18 July 2014.
Union Minister of State (MoS) Science and Technology (Independent Charge), Earth Sciences (Independent Charge), MoS in Prime Minister's Office (PMO), Department of Personnel and Training, Atomic Energy, Space and Earth Sciences, Dr. Jitendra Singh said on Sunday, 20 July 2014, that there has been significant increase in the monsoon during the last one week beginning from 13 July 2014. While during the month of June and first two weeks of July, the monsoon was deficient by 43%, in the week beginning 13 July 2014, the deficiency was 32%, thus, recording an improvement of 11% in the monsoon level.
The monsoon forecast for next two weeks is also good, particularly in Central India and coastal regions of South India. There is, therefore, no reason to be unnecessarily alarmist on the issue of monsoon, Dr. Singh said. From 1 August onwards, he said, the meteorological predictions indicate active rainfall in the country.
Rains are vital to India's farm sector, which accounts for about 14% of the country's nearly $2 trillion economy. Two-thirds of its 1.2 billion population lives in rural areas.
European stocks declined today, 21 July 2014 as investors weighed earnings reports and international tensions after the downing of a passenger jet in Ukraine last week and Israel's offensive in Gaza. Key benchmark indices in UK, Germany and France were down by 0.18% to 0.51%.
Asian stocks were mixed today, 21 July 2014. Key benchmark indices in Indonesia, Taiwan, and South Korea rose by 0.11% to 0.79%. Key benchmark indices in Hong Kong, Singapore, and China fell 0.05% to 0.22%. Japanese markets were shut for a public holiday.
Trading in US index futures indicated that the Dow could fall 25 points at the opening bell on Monday, 21 July 2014. US stocks rose on Friday, 18 July 2014, where better earnings from Google Inc., the world's third-largest company, refocused investors on economic growth amid crises in the Middle East and Ukraine.
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