Key benchmark indices edged higher in early trade. The barometer index, the S&P BSE Sensex was currently up 189.47 points or 0.69% at 27,697.01. The market breadth indicating the overall health of the market was strong. PSU OMCs slipped after the government after market hours yesterday, 1 January 2015, decided to increase basic excise duty on petrol and diesel (both branded and unbranded) by Rs 2 per litre.
Asian stocks edged higher today, 2 January 2015 amid thin volumes following the New Year's Day holiday.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 18.20 crore yesterday, 1 January 2015, as per provisional data.
At 9:30 IST, the S&P BSE Sensex was up 189.47 points or 0.69% at 27,697.01. The index gained 194.32 points at the day's high of 27,701.86 in early trade. The index rose 11.72 points at the day's low of 27,519.26 in early trade.
The CNX Nifty was up 53.65 points or 0.65% at 8,337.65. The index hit a high of 8,340.45 in intraday trade. The index hit a low of 8,288.70 in intraday trade.
The market breadth indicating the overall health of the market was strong. On BSE, 1229 shares gained and 328 shares fell. A total of 38 shares were unchanged.
The BSE Mid-Cap index was up 60.71 points or 0.58% at 10,500.88. The BSE Small-Cap index was up 59.05 points or 0.53% at 11,284.27. Both these indices underperformed the Sensex.
The total turnover on BSE amounted to Rs 252 crore by 09:30 IST.
Mahindra & Mahindra (M&M) rose 0.08%. M&M said its total tractor sales declined 27% to 12474 units in December 2014 over December 2013. M&M's total auto sales fell 8% to 36328 units in December 2014 over December 2013. The sales figures were announced at the fag end of the trading session yesterday, 1 January 2015.
M&M's total auto sales fell 8.28% to 36,328 units in December 2014 over December 2013. Domestic auto sales fell 7% to 34,460 units in December 2014 over December 2013. Exports declined 32% to 1,868 units in December 2014 over December 2013.
PSU OMCs slipped after the government after market hours yesterday, 1 January 2015, decided to increase basic excise duty on petrol and diesel (both branded and unbranded) by Rs 2 per litre. These increased rates of basic excise duty will be effective from 2 January, 2015. There will be no change in other excise duty rates applicable to these commodities.
BPCL (down 0.73%), HPCL (down 0.37%) declined. Indian Oil Corporation rose 0.18%.
TVS Motor Company shed 0.7%. TVS Motor Company said after market hours on yesterday, 1 January 2015, that it recorded 20% growth in total sales to 1.91 lakh units in December 2014 over December 2013. Three wheeler sales of the company registered an increase of 61% to 9,886 units in December 2014 over December 2013. The company's total exports grew by 28% with to 32,969 units in December 2014 over December 2013. Total two wheeler sales increased by 19% to 1.81 lakh units in December 2014 over December 2013.
Eicher Motors rose 0.8%. Eicher Motors said its total motorcycle sales jumped 48% to 28634 units in December 2014 over December 2013. Motorcycle exports surged 86% to 455 units in December 2014 over December 2013.
The Reserve Bank of India (RBI) yesterday, 1 January 2015 allowed banks to use immovable and movable assets, financial securities and corporate or personal guarantees as a security to loans given through external commercial borrowings (ECBs). The change was made with a view to liberalize the option of securities, RBI said. Banks should satisfy themselves that there is a security clause in the loan which allows the borrower to create a charge in favour of the lender, RBI said.
Asian stocks edged higher today, 2 January 2015 amid thin volumes following the New Year's Day holiday. Key benchmark indices in Singapore, Hong Kong, Indonesia and South Korea were up by 0.01% to 0.72%.
Stock markets in China, Japan and Taiwan are closed today, 2 January 2015 for holiday.
US markets remained shut yesterday, 1 January 2015 for New Year's Day.
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