A brief intraday recovery was derailed by fresh selling in mid-morning trade. The barometer index, the S&P BSE Sensex was currently down 31.16 points or 0.11% at 27,468.26. The market breadth indicating the overall health of the market was strong with close to two gainers for every loser. Maruti Suzuki India rose after the company reported robust sales for December 2014. PSU banks edged higher while private sector bank stocks declined.
Earlier during the day, trading for the calendar 2015 began on a subdued note as key benchmark indices drifted lower in early trade.
In the foreign exchange market, the rupee edged lower against the dollar due to buying of American currency by banks and importers.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 481.08 crore yesterday, 31 December 2014, as per provisional data.
Asian stocks remained closed today, 1 January 2015, for New Year holiday.
At 11:35 IST, the S&P BSE Sensex was down 31.16 points or 0.11% at 27,468.26. The index lost 104.08 points at the day's low of 27,395.34 in morning trade. The index fell 6.05 points at the day's high of 27,493.37 in early trade.
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The CNX Nifty was down 9.35 points or 0.11% at 8,273.35. The index hit a high of 8,278.20 in intraday trade. The index hit a low of 8,248.75 in intraday trade.
The market breadth indicating the overall health of the market was strong with close to two gainers for every loser. On BSE, 1,497 shares gained and 813 shares fell. A total of 88 shares were unchanged.
The BSE Mid-Cap index was up 58.88 points or 0.57% at 10,431.46. The BSE Small-Cap index was up 102.31 points or 0.92% at 11,189.38. Both these indices outperformed the Sensex.
The total turnover on BSE amounted to Rs 766 crore by 11:20 IST compared to Rs 456 crore by 10:20 IST.
Maruti Suzuki India rose 0.73% after the company said its total sales rose 20.8% to 1.09 lakh units in December 2014 over December 2013. The announcement was made during trading hours today, 1 January 2015.
Maruti Suzuki India's domestic sales rose 13.3% to 98,109 units in December 2014 over December 2013. Exports jumped 171% to 11,682 units in December 2014 over December 2013.
PSU banks edged higher while private sector bank stocks declined. Among PSU bank stocks, State Bank of India (SBI) (up 0.59%), Punjab National Bank (up 0.87%), Bank of Baroda (up 0.06%), Canara Bank (up 0.31%), Bank of India (up 1.08%) and Union Bank of India (up 1.15%) gained.
Among privare sector bank stocks, HDFC Bank (down 0.27%), IndusInd Bank (down 0.03%), Kotak Mahindra Bank (down 0.18%), Axis Bank (down 0.31%), Yes Bank (down 0.09%), and ICICI Bank (down 0.28%) declined. ING Vysya Bank rose 0.38%.
The Ministry of Finance on 24 December 2014, said that Prime Minister Narendra Modi will interact with bankers during two-day Bankers Retreat called 'Gyan Sangam' to be held in Pune on 2 and 3 January 2015 to prepare a blue print of reform action plan for banking sector. The objectives of this retreat are to create a platform for formal and informal discussions around the issues which are important for banking sector reform.
Glenmark Pharmaceuticals rose 1.95% after the company said it has received shareholders' approval to raise up to $300 million and to increase shareholding limit for foreign institutional investors from 40% to 49%. The announcement was made after market hours yesterday, 31 December 2014.
Clariant Chemicals (India) surged 11.14% after the company said it has received an aggregate consideration of Rs 1102.50 crore in full & final payment in connection with its agreement to sell its land in Kolshet, Thane aggregating to about 87 acres to Ishwer Realty and Technologies (a subsidiary of Lodha Developers). The announcement was made after market hours yesterday, 31 December 2014.
In the foreign exchange market, the rupee edged lower against the dollar due to buying of American currency by banks and importers. The partially convertible rupee was hovering at 63.2625, compared with its close of 63.04 yesterday, 31 December 2014.
Brent crude futures declined yesterday, 31 December 2014 as plentiful supplies and tepid demand continued to send prices plunging. The contract had declined 57 cents or 0.99% to settle at $57.33 a barrel yesterday, 31 December 2014.
India's fiscal deficit was Rs 5.25 trillion ($83.08 billion) during April-November, or 98.9% of the full-year target, data released after market hours yesterday, 31 December 2014, showed. The deficit was 93.9% during the same period a year ago. Fiscal deficit is the difference between earnings and expenditure of the Government. Net tax receipts were at Rs 4.13 trillion ($65.35 billion) in the first eight months of the current fiscal year that ends in March 2015.
The combined Index of Eight Core Industries stood at 166.2 in November 2014, which was 6.7 % higher compared to the index of November 2013, data released after market hours yesterday, 31 December 2014, showed. The Eight Core Industries comprise nearly 38 % of the weight of items included in the Index of Industrial Production (IIP). Its cumulative growth during April to November, 2014-15 was 4.6 %.
Asian stocks remained closed today, 1 January 2015, for New Year holiday.
A Chinese manufacturing gauge slipped to the lowest level in 18 months, data released by National Bureau of Statistics today, 1 January 2015 showed. The government's Purchasing Managers' Index fell to 50.1 in December, compared with November's 50.3. Numbers above 50 indicate expansion.
Growth in China's services sector picked up slightly in December, a government study showed today, 1 January 2015. The official non-manufacturing Purchasing Managers' Index, or PMI, rose to 54.1 in December from November's 53.9, well above the 50-point line that separates growth from contraction on a monthly basis.
US markets will remain closed today, 1 January 2015 for New Year's Day. US stocks ended lower yesterday, 31 December 2014 as crude oil prices continued their descent.
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