After high initial volatility, key benchmark indices moved in a narrow range in positive zone in morning trade. The barometer index, the S&P BSE Sensex, was currently up 109.11 points or 0.37% at 29,387.95. The market breadth indicating the overall health of the market was positive.
India and the US on Sunday, 25 January 2015, broke the 7-year-old logjam in operationalizing their landmark civil nuclear deal besides deciding to jointly produce military hardware including advanced unmanned aerial vehicles (UAVs) during talks between Prime Minister Narendra Modi and US President Barack Obama. The two countries resolved key hurdles pertaining to the liability of suppliers of nuclear reactors in the event of an accident and the tracking of fuel supplied by the US. Both countries also agreed on a Working Group to explore aircraft carrier technology besides designing and development of jet engine technology. Obama concludes hits 3-day visit to India today, 27 January 2015.
Car major Maruti Suzuki India rose ahead of its Q3 December 2014 results today, 27 January 2015. Tata Motors scaled record high. Capital goods were in demand on renewed buying.
Foreign portfolio investors (FPIs) bought shares worth a net Rs 2019.98 crore during the previous trading session on Friday, 23 January 2015, as per provisional data. The stock market was closed yesterday, 26 January 2015, for Republic Day holiday.
Earlier, the Sensex and the 50-unit CNX Nifty both scaled record high at onset of the trading session.
In the foreign exchange market, the rupee edged higher against the dollar.
Also Read
Brent crude oil futures edged higher.
In overseas markets, Asian stocks were mixed. US stocks eked out small gains yesterday, 26 January 2016, as investors mostly shrugged off the Greek election results which brought the leftist Syriza party to power.
Indian stocks may remain volatile in the near future as traders roll over positions in the futures & options (F&O) segment from the near month January 2015 series to February 2015 series. The near month January 2015 derivatives contract expire on Thursday, 29 January 2015.
At 10:15 IST, the S&P BSE Sensex was up 109.11 points or 0.37% at 29,387.95. The index gained 177.79 points at the day's high of 29,456.63 at onset of the day's trading session, a record high for the index. The index rose 19.75 points at the day's low of 29,298.59 in early trade.
The CNX Nifty was up 19.15 points or 0.22% at 8,854.75. The index hit a high of 8,878.20 in intraday trade, a record high for the index. The index hit a low of 8,825.85 in intraday trade.
The market breadth indicating the overall health of the market was positive. On BSE, 1,156 shares gained and 824 shares fell. A total of 75 shares were unchanged.
The BSE Mid-Cap index was up 84.37 points or 0.79% at 10,780.04. The BSE Small-Cap index was up 57.37 points or 0.5% at 11,423.46. Both these indices outperformed the Sensex.
The total turnover on BSE amounted to Rs 982 crore by 10:15 IST compared to Rs 303 crore by 09:30 IST.
Car major Maruti Suzuki India rose 1.34%. The company announces its Q3 December 2014 results today, 27 January 2015.
Tata Motors extended recent gains to hit record high. The stock rose 2.27% at Rs 601.25. The stock hit a high of Rs 606.60 in intraday trade, which is record high for the counter. The stock hit a low of Rs 593.05 in intraday trade. Tata Motors last week announced the commercial launch of its much-awaited sporty hatchback Bolt.
Capital goods were in demand on renewed buying. ABB India (up 2.61%), Bharat Heavy Electricals (Bhel) (up 0.88%), BEML (up 3.92%), Crompton Greaves (up 0.65%), L&T (up 2.4%), Siemens (up 1.25%) and Thermax (up 2.79%) gained.
Bharat Electronics jumped 6.15%. Bharat Electronics' net profit rose 41.8% to Rs 271.81 crore on 34.9% growth in net sales to Rs 1581.66 crore in Q3 December 2014 over Q3 December 2013. The result was announced after market hours on Friday, 23 January 2015. Bharat Electronics' board of directors at its meeting held on Friday, 23 January 2015, declared interim dividend of Rs 6 per share for the year ending 31 March 2015.
State Bank of India fell 0.28%. The state-run bank before market hours today, 27 January 2015, said that the Committee of Directors for Capital Raising (the Committee) has decided to take enabling approval from the shareholders for raising additional equity share capital up to Rs 15000 crore by way of public issue (i.e. follow-on-public issue) or rights issue or private placement, including qualified institutions placement (QIP)/global depository receipt (GDRs)/American depository receipt (ADRs) and/or any other mode(s) or a combination(s) thereof. The Committee also decided to seek the approval of the Government of India and the Reserve Bank of India for raising capital under Section 5(2) of the State Bank of India Act, 1955 and take all necessary steps in this regard.
United Spirits fell 1.06%. United Spirits reported 21.4% rise in net profit to Rs 78.81 crore on 1.4% rise in total income to Rs 2340.87 crore in Q3 December 2014 over Q3 December 2013. The result was announced on Saturday, 24 January 2015.
Earnings before interest, taxation, depreciation and amortization (EBITDA) rose 7.2% to Rs 238 crore in Q3 December 2014 over Q3 December 2013.
Ranbaxy Laboratories fell 0.18%. Ranbaxy Laboratories before market hours today, 27 January 2015, said that the company has received a communication from USFDA stating that USFDA has determined that the company has forfeited its 180 day exclusivity for esomeprazole magnesium delayed release capsule 20 mg and 40 mg. On 4 November 2014, the company had received a notice from the USFDA rescinding its tentative approvals for esomeprazole magnesium delayed release capsule 20 mg and 40 mg and for valganciclovir hydrochloride tablets USP, 450mg. Ranbaxy said that the management is disappointed with the result and the company is pursuing all available legal options to preserve its rights, the company said.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 61.42, compared with its close of 61.44 during the previous trading session on Friday, 23 January 2015. The foreign exchange market was closed yesterday, 26 January 2015, for Republic Day holiday.
Brent crude oil futures edged higher. Brent for March settlement was up 15 cents at $48.31 a barrel. The contract had fallen 63 cents or 1.29% to settle at $48.16 a barrel during the previous trading session.
Prime Minister Narendra Modi yesterday, 26 January 2015, said big projects involving large investment would be monitored by the Prime Minister's Office. He was speaking at the interactive India US CEO Forum, in the presence of US President Barack Obama, and top business leaders from both countries. He mentioned the importance of investment in the infrastructure sector, especially in the Railways.
India and the US on Sunday, 25 January 2015, broke the 7-year-old logjam in operationalizing their landmark civil nuclear deal besides deciding to jointly produce military hardware including advanced unmanned aerial vehicles (UAVs) during talks between Prime Minister Narendra Modi and US President Barack Obama. The two countries resolved key hurdles pertaining to the liability of suppliers of nuclear reactors in the event of an accident and the tracking of fuel supplied by the US. Both countries also agreed on a Working Group to explore aircraft carrier technology besides designing and development of jet engine technology. Obama concludes hits 3-day visit to India today, 27 January 2015.
The Reserve Bank of India (RBI) on Friday, 23 January 2015, relaxed rules for companies and banks to restructure and reschedule existing overseas borrowings by permitting an increase in the total cost of external commercial borrowing (ECB). The RBI has also allowed changes in the drawdown and repayment schedules of ECB. However, the easing of rules will not be applicable for foreign currency convertible bonds, the RBI said.
Asian stocks were mixed today, 27 January 2015. Key benchmark indices in China, Taiwan, Hong Kong and Indonesia fell 0.02% to 1.88%. Key benchmark indices in Singapore, Japan and South Korea rose 0.45% to 1.23%.
Trading in US index futures indicated that the Dow could fall 15 points at the opening bell today, 27 January 2015. US stocks ended higher yesterday, 26 January 2015, as investors brushed off fears that a leftist victory in Greece would bring fresh crisis to the Eurozone and energy stocks advanced.
A two-day meeting of the Federal Open Market Committee (FOMC) begins today, 27 January 2015 and tomorrow, 28 January 2015. In its last meet in December 2014, FOMC had based on its assessment, judged that it can be patient in beginning to normalize the stance of monetary policy.
In Europe, the leftist Syriza party, which ran on an antiausterity platform, won elections in Greece held on Sunday, 25 January 2015. Syriza and its outspoken leader, Alexis Tsipras, who had campaigned against the austerity measures imposed on Greece by its international creditors, formed a coalition government yesterday, 26 January 2015 with a right-wing fringe party, Independent Greeks.
Powered by Capital Market - Live News