Key benchmark indices edged higher in early trade as Asian stocks rose. The barometer index, the S&P BSE Sensex, was up 44.13 points or 0.21%, up 37.36 points from the day's high and off 21.16 points from the day's low. The market breadth, indicating the overall health of the market, was strong.
Sesa Sterlite rose ahead of its Q3 results today, 28 January 2014. NTPC rose ahead of its Q3 results today, 28 January 2014. Maruti Suzuki India gained ahead of its Q3 results today, 28 January 2014. Jindal Steel & Power fell ahead of its Q3 results today, 28 January 2014. Idea Cellular declined after announcing strong Q3 result after market hours on Monday, 27 January 2014. Cadila Healthcare rose the company on Monday said it has recently completed portfolio and strategy review of its business and has decided to exit from its business in Japan, which is through 100% subsidiary company. Just Dial dropped after declaring Q3 result after market hours on Monday, 27 January 2014. Corporation Bank and Vijaya Bank edged lower after turning ex-dividend today, 28 January 2014.
Foreign institutional investors (FIIs) sold shares worth a net Rs 1334.21 crore on Monday, 27 January 2014, as per provisional data from the stock exchanges.
The market may remain volatile this week as traders roll over positions in the futures & options (F&O) segment from the near month January 2014 series to February 2014 series. The January 2014 F&O contracts expire on Thursday, 30 January 2014.
Asian stocks rose on Tuesday, 28 January 2014, before the Federal Reserve meets to discuss a further reduction in stimulus.
At 9:26 IST, the S&P BSE Sensex was up 44.13 points or 0.21% to 20,751.58. The index gained 65.29 points at the day's high of 20,772.74 in early trade. The index rose 6.77 points at the day's low of 20,714.22 in early trade.
The CNX Nifty was up 15.80 points or 0.26% to 6,151.65. The index hit a high of 6,154.80 in intraday trade. The index hit a low of 6,130.90 in intraday trade.
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The market breadth, indicating the overall health of the market, was strong. On BSE, 844 shares gained and 335 shares fell. A total of 50 shares were unchanged.
The total turnover on BSE amounted to Rs 760 crore by 09:30 IST.
Among the 30-share Sensex pack, 22 stocks gained and rest of them declined.
Tata Motors (up 1.74%), State Bank of India (up 1.45%) and Tata Steel (up 1.48%) edged higher from the Sensex pack.
IndusInd Bank rose 0.94%. The private sector bank before market hours today, 28 January 2014, said the Reserve Bank of India (RBI) has approved the re-appointment of Mr. Romesh Sobti as Managing Director and CEO of IndusInd Bank for a period of one year from 1 February 2014 to 31 January 2015. IndusInd Bank said that the board of directors intends to represent to RBI for approval of the term of three years, viz.1 February 2014 to 31 January 2017, as earlier approved by the board of directors.
Sesa Sterlite rose 0.74% ahead of its Q3 results today, 28 January 2014.
NTPC rose 0.5% ahead of its Q3 results today, 28 January 2014.
Maruti Suzuki India gained 0.74% ahead of its Q3 results today, 28 January 2014.
Jindal Steel & Power shed 0.08% ahead of its Q3 results today, 28 January 2014.
Idea Cellular slipped 0.34%. The company's consolidated net profit jumped 104.63% to Rs 467.73 crore on 18.54% rise in total income to Rs 6613.06 crore in Q3 December 2013 over Q3 December 2012. The result was announced after market hours on Monday, 27 January 2014.
Cadila Healthcare rose 0.64%. Cadila Healthcare after market hours on Monday, 27 January 2014, announced that the company has recently completed portfolio and strategy review of its business and has decided to exit from its business in Japan, which is through 100% subsidiary company.
Just Dial lost 3.25%. The company's net profit rose 86.4% to Rs 29.75 crore on 25.91% increase in total income from operations to Rs 119.86 crore in Q3 December 2013 over Q3 December 2012. The result was announced after market hours on Monday, 27 January 2014.
The services agreement dated 29 March 2011, between the company and Just Dial Global Private (JDGPL), under which the company provides support services, including infrastructure facilities and functional workstations, to JDGPL is due for expiry on 14 February 2014. The board of directors considered and approved renewal of the services agreement between the company and JDGPL, subject to prior approval of the Central Government.
Corporation Bank fell 1.67% on turning ex-dividend today, 28 January 2014, for the interim dividend of Rs 4.50 per share for the year ending 31 March 2014.
Vijaya Bank declined 0.4% on turning ex-dividend today, 28 January 2014, for the interim dividend of Re 1 per share for the year ending 31 March 2014.
The Reserve Bank of India announces Third Quarter Review of Monetary Policy for 2013-14 at 11:00 IST today, 28 January 2014. The RBI kept its main lending rate viz. the repo rate unchanged after its last policy review in December and said at that time that it expected inflation to ease in the following months.
Asian stocks rose on Tuesday, 28 January 2014, before the Federal Reserve meets to discuss a further reduction in stimulus. Key benchmark indices in Taiwan, Hong Kong, Indonesia, Singapore, South Korea, China and Japan rose by 0.08% to 0.4%. In Taiwan, the Taiwan Weighed index fell 1.58%.
Profit at China's industrial companies increased 6 percent in December from a year earlier, after rising 9.7 percent in the previous month, the National Bureau of Statistics said today, 28 January 2014.
Thailand's manufacturing production decreased 6.2 percent in December from a year earlier, according to a report today, 28 January 2014.
US stocks edged lower in a volatile session on Monday, 27 January 2014 as worries over emerging-markets currencies unsettled investors. Stocks began the day on a higher note following upbeat results from Caterpillar, but fell after home sales data showed a larger drop in December than anticipated.
Sales of new single-family homes fell in December, but the whole of 2013 saw the highest sales level in five years, the US government reported Monday, 27 January 2014. Sales of new single-family homes dropped 7% in December due to harsh winter weather. The median price of new homes ticked up in December and for 2013, the median price hit $265,800, up 8.4% from the prior year, the strongest annual growth since 2005.
A two-day monetary policy meeting of the Federal Open Market Committee (FOMC) begins today, 28 January 2014. Federal Reserve officials have been scrutinizing US economic data to determine the timing and pace of reductions to asset purchases. The central bank decided at its December gathering to begin cutting its monthly bond buying by $10 billion to $75 billion.
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