A bout of volatility was witnessed in early trade as the key benchmark indices reversed initial decline to hit intraday high. The barometer index, the S&P BSE Sensex was currently up 54.81 points or 0.2% at 27,458.35. The market breadth indicating the overall health of the market was strong.
Many Asian stocks rose today, 31 December 2014.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 277.92 crore yesterday, 30 December 2014, as per provisional data.
At 9:30 IST, the S&P BSE Sensex was up 54.81 points or 0.2% at 27,458.35. The index gained 60.25 points at the day's high of 27,463.79 in early trade. The index fell 57.54 points at the day's low of 27,346 in early trade.
The CNX Nifty was up 16.20 points or 0.2% at 8,264.45. The index hit a high of 8,270.05 in intraday trade. The index hit a low of 8,243.75 in intraday trade.
The market breadth indicating the overall health of the market was strong. On BSE, 1,023 shares gained and 456 shares fell. A total of 62 shares were unchanged.
The BSE Mid-Cap index was up 55.99 points or 0.55% at 10,314.63. The BSE Small-Cap index was up 38.72 points or 0.35% at 11,009.82. Both these indices outperformed the Sensex.
The total turnover on BSE amounted to Rs 160 crore by 09:30 IST.
Among the 30-share Sensex pack, 22 stocks gained and rest of them declined.
Hindalco Industries (up 1.76%), Tata Steel (up 0.9%) and Tata Power Company (up 0.86%) edged higher from the Sensex pack.
Mahindra & Mahindra (down 1.5%), Bajaj Auto (down 1.3%) and Maruti Suzuki India (down 0.86%) edged lower from the Sensex pack.
NTPC rose 0.11%. With respect to news article titled NTPC scraps Rs 2000 cr Barh deal with Russia's TPE, NTPC clarified after market hours yesterday, 30 December 2014, that in the commercial interest of the company, Board of Directors in its meeting held on 23 December 2014, had decided to terminate the contract of TECHNOPROMEXPORT (TPE), Russia for Main Plant Package, Part -A (Steam Generator and Auxiliaries) for Barh, Stage-I. Accordingly, a Notice of Default has been served on TPE on 24 December 2014. The decision has been taken to facilitate completion of work.
Lupin rose 0.75%. Lupin announced after trading hours yesterday, 30 December 2014, that it has received tentative approval for its Darunavir Ethanolate Tablets 75 milligram (mg), 150 mg, 300 mg, 400 mg, 600 mg and 800 mg from the United States Food and Drugs Administration (FDA) to market a generic version of Janssen Products, LP (Janssen) Prezista Tablets 75 mg, 150 mg, 300 mg, 400 mg, 600 mg. Lupin's Darunavir Ethanolate Tablets 75 mg, 150 mg, 300 mg, 400 mg, 600 mg are the AB-rated generic equivalents of Janssen's Prezista tablets. Lupin's Darunavir Tablets are indicated for the treatment of HIV-1 infections. Prezista Tablets had annual US sales of $1.2 billion (IMS MAT September, 2014).
Bank of Baroda (BoB) rose 0.06%. Bank of Baroda announced that the United Forum of Bank Unions (UFBU) has decided to go on All India One Day strike on 7 January 2015, 4-day strike from 21 January 2015 to 24 January 2015 and an indefinite Strike from 16 March 2015 onwards demanding immediate withdrawal of IBAs direction to banks to re-visit the Mandate and immediate settlement of wage revision. The bank is taking all the necessary steps in terms of the existing guidelines to deal with the strike in the event the same materializes, BoB said in a statement.
Many Asian stocks rose today, 31 December 2014. Key benchmark indices in Singapore, Hong Kong and China rose by 0.08% to 0.68%. Taiwan's Taiwan Weighted index fell 0.11%.
Stock markets in South Korea are shut today, 31 December 2014. Japanese markets will remain closed from today, 31 December 2014 to Friday, 2 January 2015 and will reopen on Monday, 5 January 2015.
The HSBC China Manufacturing Purchasing Managers' Index, a gauge of nationwide manufacturing activity, fell to a final reading of 49.6 in December from 50 in November, HSBC Holdings PLC said today, 31 December 2014. A reading below 50 indicates a contraction in manufacturing activity from the previous month, whereas a reading above indicates expansion. The official manufacturing PMI, a competing index published by China's National Bureau of Statistics, is due tomorrow, 1 January 2015.
US stocks fell yesterday, 30 December 2014, pushing the Dow Jones Industrial Average back below 18,000, as investors engaged in profit-taking to pull major indexes from record levels.
A report yesterday, 30 December 2014 showed consumer confidence increased less than estimated this month. The Conference Board's consumer confidence index increased to 92.6 in December from a revised 91 a month earlier. Another report showed home prices in 20 US cities rose at a slower pace in the year ended in October.
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