Key benchmark indices edged higher in early trade. The barometer index, the S&P BSE Sensex regained the psychological 28,000 level. The Sensex closed below the psychological 28,000 level yesterday, 17 August 2015. The Sensex was currently up 126.68 points or 0.45% at 28,004.95. The market breadth indicating the overall health of the market was strong.
Foreign portfolio investors (FPIs) bought shares worth a net Rs 142.34 crore yesterday, 17 August 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 183.72 crore yesterday, 17 August 2015, as per provisional data.
In overseas markets, Asian stocks edged lower today, 18 August 2015. US stocks closed higher yesterday, 17 August 2015 after the release of positive homebuilder data as investors digested weak manufacturing data and falling oil prices while eyeing the release of the Federal Reserve's minutes.
At 9:18 IST, the S&P BSE Sensex was up 126.68 points or 0.45% at 28,004.95. The index rose 134.33 points at the day's high of 28,012.60 in early trade. The index rose 67.52 points at the day's low of 27,945.79 in early trade.
The CNX Nifty was up 26.85 points or 0.32% at 8,504.15. The index hit a high of 8,510.80 in intraday trade. The index hit a low of 8,500.80 in intraday trade.
The BSE Mid-Cap index was up 60.75 points or 0.53% at 11,549.07. The BSE Small-Cap index was up 56.71 points or 0.48% at 11,848.32. Both these indices outperformed the Sensex.
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The market breadth indicating the overall health of the market was strong. On BSE, 943 shares gained and 280 shares fell. A total of 41 shares were unchanged.
Hindalco Industries was up 1.27% at Rs 92. With respect to news article titled "Birla invests Rs 7,500 cr in Odisha refinery", Hindalco Industries clarified after market hours yesterday, 17 August 2015, that its owned subsidiary Utkal Alumina International has made a total investment of over Rs 7500 crore in its alumina plant in district Rayagada, Odisha. The unit has an inherent capacity to produce 1.5 million tonnes per annum of alumina.
Adani Ports and Special Economic Zone (APSEZ) was up 3.42% at Rs 370.55. With respect to news titled "Vizhinjam port MOU to be signed today, APSEZ clarified after market hours yesterday, 17 August 2015, that the company is not signing any memorandum of understanding (MoU) with respect ot Vizhinjam Port, however, the company is signing the concession agreement on 17 August 2015, which is process in furtherance to letter of award from Fisheries & Ports (E) Department, Government of Kerala for development and operation/maintenance of Vizhinjam International Deepwater Multipurpose Seaport Project on public private partnership mode on design-build-finance-operate-transfer (DBFOT) basis. The company had intimated about the letter of award on 15 July 2015.
Meanwhile, investors continue to watch the progress of the monsoon rains which will have a bearing on food prices and rural income. India's weather office, the India Meteorological Department (IMD), said in a daily report issued yesterday, 17 August 2015, that for the country as a whole, cumulative rainfall during this year's monsoon season was 10% below the Long Period Average (LPA) until 17 August 2015. Region wise, the rainfall was 20% below the LPA in South Peninsula, 12% below the LPA in East & Northeast India, 9% below the LPA in Central India until 17 August 2015.
The June-September southwest monsoon is critical for the country's agriculture because a considerable part of the country's farmland is dependent on the rains for irrigation.
In overseas markets, Asian stocks edged lower today, 18 August 2015. Key indices in Japan, China, South Korea, Indonesia, Hong Kong and Taiwan were off 0.04% to 1.42%.
US stocks closed higher yesterday, 17 August 2015 after the release of positive homebuilder data as investors digested weak manufacturing data and falling oil prices while eyeing the release of the Federal Reserve's minutes.
US homebuilder sentiment rose in August to its highest level since a matching reading almost a decade ago, the National Association of Home Builders said yesterday, 17 August 2015. The NAHB/Wells Fargo Housing Market index rose to 61 from 60 in July, the group said in a statement. Readings above 50 indicate more builders view market conditions as favorable than poor.
The Federal Reserve is due to release the minutes of the two-day policy meeting held on 28-29 July 2015 on Wednesday, 19 August 2015. The minutes could offer some clues on the timing of the Fed's plans to raise interest rates for the first time in a decade.
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