Key benchmark indices edged higher amid initial volatility. The barometer index, the S&P BSE Sensex, was currently up 8.15 points or 0.03% at 26,859.20. The market breadth indicating the overall health of the market was strong. FMCG major, Hindustan Unilever (HUL) rose ahead of its Q2 results today, 27 October 2014.
In overseas markets, Most Asian stocks declined in choppy trade today, 27 October 2014. US stocks jumped on Friday, 24 October 2014, helped by earnings from Microsoft and Procter & Gamble and as concerns eased over the possible spread of Ebola in the United States.
At 9:25 IST, the S&P BSE Sensex was up 8.15 points or 0.03% at 26,859.20. The index rose 143.91 points at the day's high of 26,994.96 in early trade. The index rose 7.46 points at the day's low of 26,858.51 in early trade.
The CNX Nifty was up 16.45 points or 0.21% at 8,031. The index hit a high of 8,064.40 in intraday trade. The index hit a low of 8,018.60 in intraday trade.
The BSE Mid-Cap index was up 1.13 points or 0.01% at 9,674.16, underperforming the Sensex. The BSE Small-Cap index was up 20.60 points or 0.19% at 10,683.25, outperforming the Sensex.
The market breadth indicating the overall health of the market was strong. On BSE, 711 shares rose while 468 shares declined. A total of 61 shares were unchanged.
HDFC (up 2.5%), Dr Reddy's Laboratories (up 1.77%) and Bharat Heavy Electricals (Bhel) (up 1.31%) edged higher from the Sensex pack.
FMCG major, Hindustan Unilever (HUL) rose 0.74% ahead of its Q2 results today, 27 October 2014.
Ashok Leyland gained 0.55% after the company on Saturday, 25 October 2014 said it has signed a memorandum of understanding (MoU) with Bank of Maharashtra whereby Bank of Maharashtra will extend retail financing to customers of Ashok Leyland's commercial vehicles. With this tie-up, Ashok Leyland will have access to 1,700 branches of Bank of Maharashtra and will be able to provide more efficient and effective service to its customers.
The market may remain volatile this week as traders roll over positions in the futures & options (F&O) segment from the near month October 2014 series to November 2014 series. The near month October 2014 derivatives contract expire on Thursday, 30 October 2014.
The Election Commission of India on Saturday, 25 October 2014, announced schedule for General Elections to the Legislative Assemblies of Jharkhand and Jammu & Kashmir. The election polls in both the states will take place in five phases from 25 November 2014 to 20 December 2014. Poll results of both the states will be announced on 23 December 2014.
Most Asian stocks declined in choppy trade today, 27 October 2014. Key benchmark indices in China, Hong Kong, Indonesia, and Singapore were down by 0.07% to 0.89%. Key benchmark indices in Taiwan, South Korea and Japan rose 0.09% to 0.37%.
China's economic growth will slow to 7.2% in the current quarter, down from the previous three months, as domestic demand weakens, said Song Guoqing, an academic member of the People's Bank of China monetary policy advisory committee. The nation's economy will probably expand 7.3% next year, Song said at a forum in Beijing on 25 October 2014. That view contrasts with a prediction by Fan Jianping, chief economist at a state research institute, who said he expects 7% growth in 2015 unless the central government imposes stronger-than-expected stimulus measures.
US stocks jumped on Friday, 24 October 2014, helped by earnings from Microsoft and Procter & Gamble and as concerns eased over the possible spread of Ebola in the United States.
The Federal Open Market Committee (FOMC) next undertakes a monetary policy review at a two-day meeting tomorrow, 28 October 2014 and Tuesday, 29 October 2014.
The European Banking Authority (EBA) put 123 banks in 22 countries through the stress test, which was carried out by the European Central Bank (ECB) and national supervisors. It provided the so-called fully loaded capital ratio for the first time. The ECB also released the results of its Comprehensive Assessment in Frankfurt yesterday, 26 October 2014, as it prepares to assume oversight of euro-area banks on 4 November 2014. The EBA's sample largely overlaps the ECB's, though it also contains banks from outside the euro area. None of Europe's largest banks were found lacking in the ECB study. Smaller lenders found to be deficient now have as many as nine months to fill gaps identified by the ECB, which is aiming to close the door on half a decade of financial turmoil in the euro region.
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