A bout of volatility was witnessed as key benchmark indices regained strength after trimming gains after opening higher. The barometer index, the S&P BSE Sensex, was currently up 52.10 points or 0.21% at 25,777.26. The market breadth indicating the overall health of the market was strong. NMDC rose after the company reported good despatches and production figures for July on provisional basis. Power Grid Corporation of India gained on good Q1 results. HCL Technologies dropped as the stock turned ex-dividend today, 5 August 2014, for interim dividend of Rs 12 per share for the year ending 31 March 2015 (FY 2015). Hero MotoCorp fell ahead of its Q1 results today, 5 August 2014.
At 9:30 IST, the S&P BSE Sensex was up 52.10 points or 0.21% to 25,777.26. The index gained 105.92 points at the day's high of 25,829.08 in early trade. The index rose 7.54 points at the day's low of 25,730.70 in early trade.
The CNX Nifty was up 8.95 points or 0.12% to 7,692.60. The index hit a high of 7,714.45 in intraday trade. The index hit a low of 7,684.40 in intraday trade.
The market breadth indicating the overall health of the market was strong. On BSE, 861 shares rose and 368 shares fell. A total of 52 shares were unchanged.
The BSE Mid-Cap index was up 21.03 points or 0.23% at 9,217.84. The BSE Small-Cap index was up 32.94 points or 0.33% at 10,032.69. Both these indices outperformed the Sensex.
Hero MotoCorp fell 0.52% ahead of its Q1 results today, 5 August 2014.
HCL Technologies dropped 0.22% as the stock turned ex-dividend today, 5 August 2014, for interim dividend of Rs 12 per share for the year ending 31 March 2015 (FY 2015).
Power Grid Corporation of India gained 0.04% to Rs 132.10 on good Q1 results. The stock hit high of Rs 133 and low of Rs 131 so far during the day. The company's net profit rose 9.24% to Rs 1136.51 crore on 12.13% rise in total income to Rs 4075.11 crore in Q1 June 2014 over Q1 June 2013. The result was announced after market hours on Monday, 4 August 2014.
NMDC rose 0.23% after the company reported good despatches and production figures in July. The company said that as per provisional basis, total iron ore production rose 11.39% to 9.88 million tonne in the four months period ended July 2014 over the corresponding period of the previous year. Despatches rose 18.19% to 11.11 million tonne in the four months period ended July 2014 over the corresponding period of the previous year.
Meanwhile, NMDC kept price of iron ore unchanged for August 2014. NMDC said it has rolled over the July 2014 price of lump ore (Rs 4600 per tonne) and fines (Rs 3160 per tonne) to the month of August 2014. The company reviews prices every month.
The Reserve Bank of India (RBI) announces monetary policy review today, 5 August 2014. As per market expectations, the RBI will keep policy rates unchanged.
HSBC Services PMI for India for the month of July is due today, 5 August 2014. The seasonally adjusted HSBC Services Business Activity Index edged up to a 17-month high of 54.4 in June 2014, from 50.2 in May 2014. New business flows and stronger business sentiment supported expansion in the services sector activity in June 2014.
Asian stocks dropped today, 5 August 2014, with Shanghai shares retreating from the year's highest close as a private gauge of Chinese services industries fell to a record low. Key benchmark indices in Hong Kong, Japan, Indonesia, South Korea, China and Taiwan were down by 0.05% to 1.61%. Singapore's Straits Times rose 0.24%.
A purchasing managers' index of China's non-manufacturing sector fell to 50 in July, the borderline between expansion and contraction and the lowest reading in data from HSBC Holdings Plc and Markit Economics.
US stocks staged a late-day rally Monday, 4 August 2014, helping push the indices higher for the first time in a week on a decent earnings report from Berkshire Hathaway and the announcement of a rescue package for a struggling Portuguese bank.
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