Volatility continued as the key benchmark indices regained positive zone after turning negative after hitting intraday high in morning trade. The S&P BSE Sensex was up 36.38 points or 0.17%, up 80.49 points from the day's low and off 18.64 points from the day's high. The market breadth, indicating the overall health of the market, was strong.
IT stocks were in demand as the rupee hit almost one-week low against the dollar. TCS rose after the company won a multi-million, multi-year technology contract to manage Bombardier Transportation's newly commissioned German data centres. Wipro advanced ahead of its Q2 September 2013 results today, 22 October 2013.
A bout of volatility was seen in early trade as the key benchmark indices once again sink in red after turning positive from a lower start triggered by negative Asian stocks. Volatility continued as the key benchmark indices regained positive zone after turning negative after hitting intraday high in morning trade.
Foreign institutional investors (FIIs) bought shares worth a net Rs 1031.79 crore on Monday, 21 October 2013, as per provisional data from the stock exchanges.
At 10:15 IST, the S&P BSE Sensex was up 36.38 points or 0.17% to 20,930.27. The index rose 55.02 points at the day's high of 20,948.91 in morning trade. The index fell 44.11 points at the day's low of 20,849.78 in early trade.
The CNX Nifty was up 5.80 points or 0.09% to 6,210.75. The index hit a high of 6,220.10 in intraday trade. The index hit a low of 6,187.90 in intraday trade.
The market breadth, indicating the overall health of the market, was strong. On BSE, 856 shares gained and 445 shares fell. A total of 64 shares were unchanged.
The total turnover on BSE amounted to Rs 451 crore by 10:20 IST as compared to Rs 115 crore by 09:25 IST.
Among the 30-share Sensex pack, 22 stocks gained and rest of them declined. Coal India (up 1.62%), Hindalco Industries (up 1.12%) and Bhel (up 0.58%) edged higher from the Sensex pack.
IT stocks were in demand as the rupee hit almost one-week low against the dollar.
Wipro gained 1.63% ahead of its Q2 September 2013 results today, 22 October 2013.
TCS rose 1.09% to Rs 2,096. The stock had hit record high of Rs 2,258.05 in intraday trade on 15 October 2013. The company after market hours on Monday, 21 October 2013, announced that it has been selected by Bombardier Transportation, a global leader in rail transportation technology, to manage its IT infrastructure for newly commissioned data centers. The multi-year, multi-million deal is the first that TCS has signed with a rail-transportation technology provider, TCS said.
As part of the contract, TCS will provide remote infrastructure management (RIM) to Bombardier Transportation's recently established data centers in Germany. The new data centers will establish a leading-edge technology platform for Bombardier, through introduction of private cloud services paired with a high level of virtualization, TCS said.
Infosys rose 0.54% at Rs 3,353.80. The scrip had hit a 52-week high of Rs 3,371.15 in intraday trade on Monday, 21 October 2013.
HCL Technologies rose 1.29% to Rs 1,098. The stock had hit record high of Rs 1,177 in intraday trade on 15 October 2013. The company last week said its consolidated net profit as per US accounting standards jumped 18.7% to Rs 1416 crore on 14% growth in revenue to Rs 7961 crore in Q1 September 2013 over Q4 June 2013.
Tech Mahindra gained 0.66% to Rs 1,557.10. The stock had hit a 52-week high of Rs 1,594 in intraday trade on 17 October 2013.
Karnataka Bank tumbled 4.44% after net profit declined 75.29% to Rs 28.95 crore on 11.63% growth in total income to Rs 1152.49 crore in Q2 September 2013 over Q2 September 2012. The Q2 result was announced after market hours on Monday, 21 October 2013.
Karnataka Bank's ratio of gross non-performing assets (NPAs) to gross advances increased to 3.59% as on 30 September 2013 from 3.22% as on 30 June 2013 and 3.22% as on 30 September 2012. The ratio of net NPAs to net advances increased to 2.25% as on 30 September 2013 from 1.96% as on 30 June 2013 and 2.08% as on 30 September 2012.
The bank's provisions and contingencies galloped 456.96% to Rs 126.71 crore in Q2 September 2013 over Q2 September 2012.
Deposits grew 11.9% to Rs 38013.71 crore as on 30 September 2013, as against Rs 33968.31 crore as on 30 September 2012. Borrowings rose 46.02% to Rs 2143.70 crore as on 30 September 2013, as against Rs 1468.07 crore as on 30 September 2012.
Karnataka Bank's Capital Adequacy Ratio (CAR) as per Basel II norms stood at 13.47% as on 30 September 2013 as against 14.08% as on 30 June 2013 and 12.17% as on 30 September 2012. CAR as per Basel III norms stood at 13.22% as on 30 September 2013.
Rallis India rose 3.69% after consolidated net profit rose 21.42% to Rs 74.75 crore on 24.07% growth in total income from operations to Rs 602.40 crore in Q2 September 2013 over Q2 September 2012. The Q2 result was announced after market hours on Monday, 21 October 2013.
In the foreign exchange market, the rupee hit almost one-week low against the dollar. The partially convertible rupee was hovering at 61.7625, weaker than its close of 61.52/53 on Monday, 21 October 2013.
Asian markets were trading on a cautious note as investors awaited US jobs data which will determine when the Federal Reserve would start tapering. Key benchmark indices in South Korea, Taiwan, Hong Kong, China and Indonesia fell by 0.05% to 1.21%. Key benchmark indices in Singapore and Japan rose by 0.2% to 0.4%.
Trading in US index futures indicated that the Dow could fall 8 points at the opening bell on Tuesday, 22 October 2013. US stocks finished little changed on Monday, with the S&P 500 adding a fraction to its record close and the Nasdaq Composite extending gains into a fourth session, bolstered by Netflix Inc., which released earnings just after the close.
The US government will release the influential nonfarm-payroll data for September 2013 today, 22 October 2013. The data has been delayed due to the 16-day partial shutdown of the US government this month.
The Federal Open Market Committee (FOMC) holds a two-day policy meeting on 29-30 October 2013. On 18 September 2013, the Fed surprised economists and investors with its decision to delay scaling back its stimulus amid concerns about the strength of the economic recovery.
Powered by Capital Market - Live News
