Key benchmark indices edged higher today, 26 December 2014. Volatility was high as key indices swung between gains and losses during the session. The barometer index, the S&P BSE Sensex rose 33.17 points or 0.12% to settle at 27,241.78. The market breadth indicating the overall health of the market was even. Shares of most pharmaceutical companies rose. IT stocks were mixed. Realty shares were mostly higher. Shares of public sector banks were in demand.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 2,808.27 crore on Wednesday, 24 December 2014, as per provisional data.
In the global market, European market were shut for Christmas holiday. Asian markets edged higher today, 26 December 2014, with some of the key bourses closed for the Christmas holidays.
In the foreign exchange market, the rupee edged lower against the dollar.
Brent crude futures held above $60 a barrel today, 26 December 2014.
The S&P BSE Sensex rose 33.17 points or 0.12% to settle at 27,241.78, its highest closing level since 23 December 2014. The index fell 117.23 points at the day's low of 27,091.38 in mid-afternoon trade, its lowest level since 18 December 2014. The index jumped 162.02 points at the day's high of 27,370.63 at the onset of trading session.
The CNX Nifty rose 26.60 points or 0.33% to settle at 8,200.70, its highest closing level since 23 December 2014. The index hit a low of 8,147.95 in intraday trade, its lowest level since 18 December 2014. The index hit a high of 8,234.55 in intraday trade.
The BSE Mid-Cap index rose 41.33 points or 0.41% at 10,115.85, outperforming the Sensex. The BSE Small-Cap index was up 1.96 points or 0.02% at 10,894.89, underperforming the Sensex.
The market breadth, indicating the overall health of the market, was even. On BSE, 1,418 shares fell and 1,418 shares rose. A total of 115 shares were unchanged.
The total turnover on BSE amounted to Rs 1950 crore, lower than turnover of Rs 2552.83 crore during the previous trading session.
The S&P BSE Realty index (up 0.93%), the S&P BSE IT index (up 0.85%), the S&P BSE Teck index (up 0.66%), the S&P BSE Metal index (up 0.58%), the S&P BSE Capital Goods index (up 0.27%), the S&P BSE Healthcare index (up 0.26%) and the S&P BSE Bankex (up 0.13%), outperformed the Sensex.
The S&P BSE Oil & Gas index (up 0.07%), the S&P BSE Auto index (down 0.04%), the S&P BSE Power index (down 0.16%), the S&P BSE Consumer Durables index (down 0.5%) and the S&P BSE FMCG index (down 0.81%), underperformed the Sensex.
Reliance Industries rose 0.25%. The company before market hours today, 26 December 2014 said it has signed shipping agreements with one of the world's largest and reputed shipping companies MITSUI O.S.K. Lines (MOL) for transporting liquefied ethane from North America to India. MOL will supervise the construction of six very large ethane carriers (VLECs), ordered by Reliance. MOL will also operate and manage the vessels after they are built and delivered.
UltraTech Cement fell 1.08%. The company after market hours on Wednesday, 26 December 2014 in a clarification with respect to announcement dated 23 December 2014 regarding UltraTech Cement's acquisition of cement units of Jaiprakash Associates said that the board of UltraTech Cement approved the acquisition of 2 integrated cement units of Jaiprakash Associates in Madhya Pradesh as mentioned in the press release at an enterprise value of Rs 5400 crore. The board also approved executing an Memorandum of Understanding (MOU), which was signed by the parties on 23 December 2014 after the board meeting. The transaction is subject to confirmatory due diligence, definitive agreements and regulatory approvals as may be required, UltraTech Cement said.
Shares of most pharmaceutical companies rose. IPCA Laboratories (up 1.93%), Ranbaxy Laboratories (up 1.26%), Strides Arcolab (up 1.07%), Biocon (up 0.96%), Divi's Laboratories (up 0.85%), Sun Pharmaceutical Industries (up 0.81%), Wockhardt (up 0.73%), Cadila Healthcare (up 0.38%), GlaxoSmithKline Pharmaceuticals (up 0.26%), Lupin (up 0.26%), Glenmark Pharmaceuticals (up 0.17%) and Aurobindo Pharma (up 0.11%), edged higher. Cipla, however, fell 0.42%.
Dr Reddy's Laboratories fell 0.30%. With respect to news article titled, "DRL under health Canada Scanner," Dr Reddys Laboratories clarified during trading hours today, 26 December 2014, that in keeping with current regulations of Health Canada, the company has voluntarily placed under quarantine all APIs and the formulations based on Active Pharmaceutical Ingredients (APIs) produced at its API facility in Srikakulam district of Andhra Pradesh intended for use in Canada. The company said its products continue to meet intended quality standards, and its APIs and Finished drug products manufactured using these APIs pose no risk to the health and safety of the Canadian people. The company is working with the agency for a satisfactory resolution of the matter. At this stage, it has no implication on any activity at the plant and hence, these are not expected to be material to the company's operations or consolidated results, the company added.
IT stocks were mixed. Tech Mahindra (up 1.68%), Hexaware Technologies (up 1.44%), HCL Technologies (up 1.37%), CMC (up 0.99%), TCS (up 0.98%) and Infosys (up 0.84%), edged higher. However, Wipro (down 0.05%), MphasiS (down 0.67%) and MindTree (down 0.78%), edged lower.
DLF (up 3.30%), Unitech (up 3.10%), Parsvnath Developers (up 2.47%), Anant Raj (up 1.24%), Indiabulls Real Estate (up 1.10%), Prestige Estates (up 0.97%), Peninsula Land (up 0.76%), Sobha (up 0.45%) and Phoenix Mills (up 0.03%), edged higher. However, Oberoi Realty (down 3.6%), Sunteck Realty (down 1.28%), Godrej Properties (down 0.08%) and Housing Development and Infrastructure (HDIL) (down 0.07%), edged lower.
D B Realty jumped 8.76%. The company said during market hours that DB Woods, Goregaon (East), a development comprising 3 residential towers of 55 stories each and 630 flats, by a subsidiary Company of D B Realty, has received full occupation certificate. The project is the tallest residential development in Mumbai suburbs. The company is proud to report the handover of the development to its customers.
Shares of public sector banks were in demand. Union Bank of India (up 5.65%), Syndicate Bank (up 4.93%), Corporation Bank (up 4.68%), Andhra Bank (up 4.46%), Allahabad Bank (up 4.19%), UCO Bank (up 4.03%), Bank of India (up 3.47%), IDBI Bank (up 3.10%), Indian Bank (up 3.10%), Punjab & Sind Bank (up 2.94%), Bank of Maharashtra (up 2.41%), Dena Bank (up 2.17%), United Bank of India (up 1.94%), Canara Bank (up 1.76%), Central Bank (up 1.02%), Bank of Baroda (up 0.86%), State Bank of India (up 0.59%) and Vijaya Bank (up 0.43%), edged higher.
Punjab National Bank rose 1.05%. The company said after market hours on Wednesday, 24 December 2014, that the board of directors of the bank at its meeting held on 23 December 2014, has approved the holding of EGM on 13 February 2015, for election of three shareholder directors of the bank and seeking shareholder approval for raising of equity capital by way of FPO/QIP/ESPS or in any combination thereof.
The Ministry of Finance on Wednesday, 24 December 2014, said that Prime Minister Narendra Modi will interact with bankers during two day Bankers Retreat called 'Gyan Sangam' to be held in Pune on 2nd and 3rd January 2015 to prepare a blue print of reform action plan for banking sector. The objectives of this retreat are to create a platform for formal and informal discussions around the issues which are important for banking sector reform.
The Sensex has declined 1,452.21 points or 5.06% in this month so far (till 26 December 2014). The Sensex has gained 6,071.10 points or 28.68% in calendar year 2014 so far (till 26 December 2014). From a record high of 28,822.37 struck on 28 November 2014, the Sensex has fallen 1,580.59 points or 5.48%. From a 52-week low of 19,963.12 on 4 February 2014, the Sensex has risen 7,278.66 points or 36.46%.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 63.6350 compared with its close of 63.5250 during the previous trading session.
Brent crude futures held above $60 a barrel today, 26 December 2014. Brent for February settlement was up 31 cents at $60.55 barrel. The contract fell $1.45 a barrel to close at $60.24 a barrel during the previous trading session.
Asian markets edged higher today, 26 December 2014, with some of the key bourses closed for the Christmas holidays. Key benchmark indices in Singapore, Japan, China, South Korea and Taiwan were up 0.08% to 2.77%. Key benchmark indices in Hong Kong and Indonesia were closed for holiday.
Singapore's manufacturing output fell in November as most major sectors dragged and a tepid rise in the production of electronics failed to offset the decline. Output fell 2.8% on year in November, according to preliminary figures released by the government on Friday. That compared with the revised 0.2% contraction in October. Preliminary October data released last month had shown a 0.2% on year rise.
Among slew of economic data in Japan, Japan's exports of cars, trucks and buses declined 11.5% on year in November for the fourth consecutive month, the Japan Automobile Manufacturers Association said Friday. Exports totaled 368,113 vehicles in November, down from 415,997 vehicles in the same month a year earlier, the association said.
Japanese industrial production unexpectedly fell 0.6% in November from the previous month, government data showed, in a sign that the economy is continuing to struggle from a slump triggered by a sales tax increase earlier in the year.
Japanese retail sales rose 0.4% in November from a year earlier, the government said, a sign that household consumption may be starting to recover from a slump in the summer triggered by a sales tax increase in April. Japan's inflation rate continued its slide in November, dragged down to its lowest level in over a year by sharp drops in global oil prices and sagging consumer spending. The on-year growth in core consumer price index in November, stripping out volatile fresh-food prices and a tax increase impact, fell to 0.7% in November from 0.9% the previous month.
Trading in US index futures indicated that the Dow could gain 38 points at the opening bell today, 26 December 2014. US markets remained shut on account of Christmas holiday on Thursday, 25 December 2014.
US stocks closed flat in a short session on Wednesday, 24 December 2014, as investors found few reasons to push major indexes to their sixth straight day of gains. The S&P 500 erased earlier gains and closed down less than a point at 2,081.88 in the Christmas holiday-shortened session, ending its five-day winning streak. But the Dow Jones Industrial Average eked out a 6-point gain to 18,030.21, closing at a record level.
Powered by Capital Market - Live News
