A bout of volatility was witnessed as key benchmark indices trimmed gains after opening higher. The barometer index, the S&P BSE Sensex was currently up 21.46 points or 0.08% at 26,754.21. The market breadth indicating the overall health of the market was positive. The 50-unit CNX Nifty regained psychological 8,000 mark after falling below that mark for a brief period. State Bank of India edged lower after the bank said that the central board of the bank at its meeting held on Wednesday, 24 September 2014, approved a 10-for-1 stock split.
Prime Minister Narendra Modi will launch Make in India initiative today, 25 September 2014 and later today he leaves for a five-day visit to the United States. Asian stocks were mixed today, 25 September 2014.
At 9:24 IST, the S&P BSE Sensex was up 21.46 points or 0.08% at 26,754.21. The index rose 69.51 points at the day's high of 26,814.20 in early trade. The index fell 5.81 points at the day's low of 26,738.88 in early trade.
The CNX Nifty was up 3.05 points or 0.04% at 8,005.45. The index hit a high of 8,019.30 in intraday trade. The index hit a low of 7,997.75 in intraday trade.
The market breadth indicating the overall health of the market was positive. On BSE, 797 shares gained and 548 shares fell. A total of 36 shares were unchanged.
The BSE Mid-Cap index was up 17.43 points or 0.18% at 9,598.26. The BSE Small-Cap index was up 35.89 points or 0.33% at 10,827.33. Both these indices outperformed the Sensex.
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State Bank of India fell 0.01% after the bank after market hours close on Wednesday, 24 September 2014, said that the central board of the bank at its meeting held on Wednesday, 24 September 2014, approved a 10-for-1 stock split.
Tata Power Company declined 0.23%. The company announced after market hours on Wednesday, 24 September 2014, that Tata Power had two coal blocks jointly allocated to it, along with other co-allocatees. The Supreme Court by its order on Wednesday, 24 September 2014, has cancelled all but four blocks. Tata Power would study the order and discuss the same with board before having a view point. Tata Power would look forward to opportunities of having a new, legally enforceable framework by which coal blocks could be awarded, perhaps at an early time, company said.
Bharat Heavy Electricals (Bhel) rose 0.83%. With respect to the media report titled "Bhel wins 2 power plant deals from Telangana", Bhel clarified after market hours on Wednesday, 24 September 2014, that it has not announced the same as no firm order has been placed on the company. Senior Bhel officials met Chief Minister of Telangana on 22nd September 2014. During the course of the meeting, Chief Minister discussed the placement of orders for the execution of two power projects in Telangana, namely Kothagudem (800 MW) and Manuguru (1,080 MW) on Bhel. It is also understood that the Chief Minister's office communicated in this regard to media persons in a briefing. The orders are to be finalized by TSGENCO, Bhel said.
The market may remain volatile today, 25 September 2014, as traders roll over positions in the futures & options (F&O) segment from the near month September 2014 series to October 2014 series. The near-month September 2014 F&O contracts expire today, 25 September 2014.
Prime Minister Narendra Modi will launch Make in India initiative today, 25 September 2014. The launch will be at both national level, state level and in Missions abroad. The initiative is one of the several steps which government has announced in order to improve ease of doing business in India and attract investments to boost manufacturing in the country.
Modi leaves for a five-day visit to the United States today, 25 September 2014, hours after the launch of the "Make in India" campaign in Delhi. The Indian Prime Minister will meet US President Barack Obama at the White House on 30 September 2014. The two leaders will discuss a range of issues of mutual interest in order to expand and deepen the US-India strategic partnership. They will discuss ways to accelerate economic growth, bolster security cooperation, and collaborate in activities that bring long-term benefits to both countries and the world.
The provisional data released by the stock exchanges after trading hours on Wednesday, 24 September 2014, showed that foreign portfolio investors (FPIs) sold shares worth a net Rs 793.65 crore on that day.
Asian stocks were mixed today, 25 September 2014. Key benchmark indices in China, Indonesia, and Japan rose by 0.53% to 1.22%. Key benchmark indices in Hong Kong, South Korea, Taiwan and Singapore fell 0.11% to 0.61%.
US stocks jumped in a broad advance on Wednesday, 24 September 2014, with the S&P 500 index snapping a three-day losing streak after data showed new home sales jumped sharply in August.
The data showed yesterday, new-home sales in US surged in August to the highest level in more than six years.
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