Key benchmark indices declined in afternoon trade. The S&P BSE Sensex was down 5.97 points or 0.03%, off close to 148 points from the day's high and up about 16 points from the day's low. The market breadth, indicating the overall health of the market, was negative. Mid-cap and small-cap indices on BSE underperformed the Sensex. Power Finance Corporation (PFC) galloped over 4% after strong Q1 June 2013 results.
A bout of initial volatility was witnessed as key benchmark indices alternately swung between positive and negative zone. The Sensex regained positive terrain after moving into the negative terrain from positive zone in morning trade. The 50-unit CNX Nifty trimmed losses after moving into the negative terrain from positive zone in morning trade. The Sensex surged and hit fresh intraday high in mid-morning trade. The market trimmed gains in early afternoon trade. Key benchmark indices declined in afternoon trade.
Foreign institutional investors (FIIs) bought shares worth a net Rs 283.79 crore on Friday, 2 August 2013, as per provisional data from the stock exchanges.
At 13:15 IST, the S&P BSE Sensex was down 5.97 points or 0.03% to 19,158.05. The index jumped 142.49 points at the day's high of 19,306.51 in mid-morning trade. The index fell 22.34 points at the day's low of 19,141.68 in early trade.
The CNX Nifty was down 4.70 points or 0.08% to 5,673.20. The index hit a high of 5,721 in intraday trade. The index hit a low of 5,661.50 in intraday trade.
The BSE Mid-Cap index was down 0.53% and the BSE Small-Cap index was down 0.12%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, once again was negative. On BSE, 1,101 shares fell and 847 shares rose. A total of 106 shares were unchanged.
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Among the 30-share Sensex pack, 17 stocks rose and rest of them fell. Coal India (up 4.69%), Sterlite Industries (up 3.73%), Jindal Steel & Power (up 2.57%), NTPC (up 2.19%), ITC (up 2.13%), M&M (up 2.12%), ICICI Bank (up 1.82%), Hindustan Unilever (up 1.41%), Reliance Industries (up 1.35%), Wipro (up 1.30%) and TCS (up 1.23%), edged higher from the Sensex pack.
Bhel (down 18.54%), Tata Power (down 2.13%), Tata Motors (down 2.12%), HDFC Bank (down 1.81%), HDFC (down 1.68%), Larsen & Toubro (down 1.65%), Cipla (down 1.39%), Bajaj Auto (down 1.23%) and GAIL (India) (down 1.08%), edged lower from the Sensex pack.
Power Finance Corporation (PFC) rose 4.33% to Rs 102.35 after net profit rose 23.29% to Rs 1198.24 crore on 27.18% growth in total income to Rs 5017.10 crore in Q1 June 2013 over Q1 June 2012. The result was announced after market hours on Friday, 2 August 2013.
PFC said its net interest income increased by 39% to Rs 1942 crore. Loan sanctions increased by 37% to Rs 15375 crore, loan disbursements increased by 4% to Rs 8235 crore and loan assets increased by 24% to Rs 167196 crore in Q1 June 2013 over Q1 June 2012.
Companies in India's vast services sector suffered a fall-off in activity for the first time in nearly two years in July, according to a survey released on Monday, 5 August 2013. The HSBC Markit Services Purchasing Managers' Index fell to 47.9 in July from 51.7 in the previous month. The latest PMI is the first time since October 2011 the headline index has fallen below the 50 mark that divides growth from contraction, and the lowest since April 2009, dashing hopes of a quick turnaround for Asia's third-largest economy. The service sector accounts for nearly 60% of an economy that grew at a decade low of 5% in the last fiscal year.
European markets were trading higher in early trade on Monday, 5 August 2013. Key benchmark indices in UK, France and Germany were up by 0.13% to 0.51%.
In Europe, the results of two surveys on Monday, 5 August 2013, showed that UK's economic growth this year is expected to be stronger than originally forecast, and that confidence among smaller firms has picked up.
Asian stocks were mixed on Monday, 5 August 2013. Key benchmark indices in Hong Kong, China, and Taiwan rose by 0.14% to 1.04%. Key benchmark indices in Japan, Singapore, and South Korea fell by 0.37% to 1.44%.
China's service industries showed the first pick-up in growth since March, adding to signs the world's second-largest economy may be stabilizing after a two-quarter slowdown. The non-manufacturing Purchasing Managers' Index rose to 54.1 in July from 53.9 in June, the Beijing-based National Bureau of Statistics and China Federation of Logistics and Purchasing said on Saturday. An official gauge of manufacturing released 1 August 2013 showed an unexpected expansion.
The HSBC Hong Kong Purchasing Managers Index rose to 49.7 in July from 48.7 in June, but remained in contraction mode as new orders fell amid China's economic slowdown, HSBC Holdings PLC said on Monday, 5 August 2013.
Trading in US index futures indicated that the Dow could see a opening on Monday, 5 August 2013. US stocks rose on Friday, 2 August 2013, as data showing employers added fewer workers than anticipated in July signaled the Federal Reserve will continue its stimulus efforts. The 162,000 increases in payrolls last month was the smallest in four months and followed a revised 188,000 rise in June that was less than initially estimated, Labor Department figures showed on Friday in Washington. Workers spent fewer hours on the job and hourly earnings fell for the first time since October. The unemployment rate dropped to 7.4% from 7.6%, partly due to more people leaving the labor force.
Consumer spending rose in line with forecasts in June as Americans' incomes grew, while orders placed with factories increased, pointing to further stabilization in manufacturing that may help lift second-half growth, separate reports showed.
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