A range bound movement was witnessed as key benchmark indices languished in red in mid-morning trade. The barometer index, the S&P BSE Sensex, was currently trading above the psychological 27,000 mark. Earlier, the Sensex had fallen below that level amid initial volatility. The Sensex had settled above the psychological 27,000 mark after yesterday's rally. The Sensex was currently off 142.35 points or 0.52% at 27,108.75. The market breadth indicating the overall health of the market was positive.
Index heavyweight and housing finance major HDFC fell. Index heavyweight and software major Infosys also edged lower. Power generation stocks were mixed.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 71.20 crore yesterday, 13 May 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 254 crore yesterday, 13 May 2015, as per provisional data released by the stock exchanges.
In overseas markets, Asian stocks were mixed. US stocks closed virtually unchanged yesterday, 13 May 2015, as early gains faded by the end of the session.
At 11:18 IST, the S&P BSE Sensex was down 142.35 points or 0.52% at 27,108.75. The index lost 302.48 points at the day's low of 26,948.62 in early trade. The index rose 42.89 points at the day's high of 27,293.99 at onset of day's trading session.
The CNX Nifty was down 52.85 points or 0.64% at 8,182.60. The index hit a high of 8,232.80 in intraday trade. The index hit a low of 8,137.30 in intraday trade.
The market breadth indicating the overall health of the market was positive. On BSE, 1,145 shares gained and 958 shares declined. A total of 91 shares were unchanged.
The BSE Mid-Cap index was up 44.46 points or 0.43% at 10,478.33. The BSE Small-Cap index was up 48.20 points or 0.44% at 10,921.05. Both these indices outperformed the Sensex.
The total turnover on BSE amounted to Rs 1306 crore by 11:15 IST, compared with Rs 986 crore by 10:15 IST.
Index heavyweight and housing finance major HDFC fell 1.22% to Rs 1,204.65. The stock hit high of Rs 1,223.05 and low of Rs 1,198 so far during the day.
Index heavyweight and software major Infosys lost 1.43% to Rs 1,928. The stock hit high of Rs 1,960 and low of Rs 1,910 so far during the day.
Power generation stocks were mixed. Reliance Infrastructure (up 1.06%), Tata Power Company (up 0.27%), NHPC (up 0.53%) and JSW Energy (up 2.46%) edged higher. CESC (down 0.49%), Reliance Power (down 0.19%), Jaiprakash Power Ventures (down 0.13%) and Adani Power (down 0.97%) declined.
The Ministry of Power said in a statement issued yesterday, 13 May 2015, that the latest auctions conducted through transparent reverse e-auction process have resulted in revival of a cumulative gas based generation capacity of 10,270 MW resulting in generation of additional 5.70 billion units of electricity during the peak summer months from 1 June 2015 to 30 September 2015. Further, this will involve government support of Rs 843.99 crore from the Power System Development Fund to the Discoms. The reverse e-auction for the stranded gas based plants was conducted under the newly approved Scheme for Utilization of Stranded Gas Based Generation Capacity.
NTPC rose 1.16% to Rs 139.60. The stock hit high of Rs 143.55 and low of Rs 139.35 so far during the day. The stock had declined 2.47% yesterday, 13 May 2015.
Indian Oil Corporation (IOC) fell 1.54% to Rs 329.30. The stock had gained 0.5% yesterday, 13 May 2015.
Reports during market hours yesterday, 13 May 2015, indicated that the Cabinet Committee on Economic Affairs at a meeting held yesterday, 13 May 2015, approved divestment of 5% stake in NTPC and 10% stake in IOC.
In macroeconomic data, the government will at about 12:00 IST today, 14 May 2015, unveil data on inflation based on the wholesale price index (WPI) for April 2015. The WPI based inflation dipped to minus 2.3% in March 2015 compared with minus 2.1% in February 2015.
Prime Minister Narendra Modi arrived on a three-day visit to China today, 14 May 2015, during which he will hold summit talks with Chinese president Xi Jinping on a range of issues.
Asian stocks were mixed today, 14 May 2015. Key benchmark indices in Hong Kong, China and South Korea were up 0.01% to 0.78%. Key benchmark indices in Singapore, Taiwan and Japan were off 0.15% to 1.11%.
US stocks closed virtually unchanged yesterday, 13 May 2015, as early gains faded by the end of the session. In economic data, US retail sales were unchanged in April as households cut back on purchases of cars and other big-ticket items and import prices fell for a 10th straight month in April and business inventories barely rose in March.
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