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Benchmark indices continue to hold on to their gains led by auto, capital goods and financial shares. Firmness in Asian markets has also cheered the sentiments.
At 11:30, the Sensex was higher by 173 points at 25,692 mark and the Nifty gained by 45 points at 7,671 levels.
Among broader markets, BSE Midcap and Smallcap indices have gained between 0.4-1%. The market breadth in BSE remains firm with 1,403 shares advancing and 978 shares declining.
The government is expected to unveil industrial production data for June 2014 later during the day. In addition, the government is also scheduled to announce data on inflation based on the combined consumer price index (CPI) for rural and urban India for July 2014 today.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 162.92 crore on Monday, 11 August 2014, as per provisional data from the stock exchanges.
RESULTS
Aditya Birla Nuvo, Apollo Hospitals Enterprise, BEML, Bharat Heavy Electricals, Bhushan Steel, BPCL, Britannia Industries, Coal India, Engineers India, Essar Oil, Gillette India, GlaxoSmithKline Pharmaceuticals, Indian Oil Corporation, Jaiprakash Associates, MOIL, Motherson Sumi Systems, NMDC, Oil India, Procter & Gamble Hygiene & Health Care, Shipping Corporation of India, Sun Pharmaceutical Industries, Tata Power, VST Industries and Wockhardt, among others are expected to announce April-June 2014 quarter results today later during the day.
GLOBAL MARKETS
Most Asian stocks edged higher today amid optimism that geopolitical risks are receding. Key benchmark indices in Japan, Indonesia, Singapore and South Korea were up 0.04% to 0.4%. Key benchmark indices in Taiwan, China and Hong Kong were off 0.02% to 0.21%.
Singapore's gross domestic product rose an annualized 0.1% in the three months through June from the previous quarter, when it climbed a revised 1.8%, the trade ministry said in a statement today.
China will announce industrial production and retail sales data for July and fixed-asset investment for the first seven months of 2014 tomorrow.
RUPEE
The rupee is trading at 61.16/17 after closing at 61.19/20 on Monday. The pair had touched 61.74 on Friday, its highest since March 5.
Asian currencies are trading mixed-to-positive versus the dollar.
SECTORS & STOCKS
BSE Auto and Consumer Durables indices have surged by nearly 2% followed by counters like Oil & Gas, Power, Capital Goods, Metal and Healthcare, all gaining by 1% each.
Tata Motors is the top Sensex gainer, up nearly 6% after reporting a robust 213% year-on-year (y-o-y) jump in consolidated net profit at Rs 5,398 crore for the quarter ended June 2014 (Q1), on back of strong demand for new products, growth in volumes, richer product mix and richer geographic mix at Jaguar Land Rover (JLR).
GAIL has surged by nearly 4%. GAIL India posted a 23% decline in net profit for the quarter ended June on costly liquefied natural Gas (LNG) imports.
Coal India has advanced over 2% on reports the company may consider increasing prices by 15-20% at a board meeting today to take into account rising input costs and reduced income from curtailed e-auction volumes.
Other notable gainers are ONGC, HDFC, Tata Power, Sun Pharma, NTPC and Tata Steel.
On the losing side, Bharti Airtel, M&M, BHEL, ITC and Infosys have dropped between 1-2%.
Mahindra & Mahindra has fallen on profit booking. The stock had jumped 6.45% to settle at Rs 1,308.40 on Monday.
Among other shares, internet software and services provider - 8K Miles Software Services - have soared 17% to Rs 256, also its record high on National Stock Exchange (NSE) on back of heavy volumes.
Eicher Motors has surged 5% to Rs 8,990 on the BSE after reporting a more-than-double standalone net profit at Rs 133 crore for the quarter ended June 2014 (Q2), on back of strong sales. The manufacturer of Royal Enfield motorcycle had posted a profit of Rs 53 crore in the same quarter last fiscal.
IRB Infrastructure Developers is trading 3% higher at Rs 252 on NSE after Virendra Mhaiskar, the promoter of the company got a clean chit by the Central Bureau of Investigation (CBI) on RTI activist murder.
