Key benchmark indices hovered in negative terrain in early trade. Losses on the bourses were small. The S&P BSE Sensex was currently down 20.76 points or 0.07% at 28,317.29. The market breadth indicating the overall health of the market was positive.
GMR Infrastructure (GIL) gained after the company said that a GIL led consortium has emerged as lowest bidder in international competitive bidding for two packages of Eastern Dedicated Freight Corridor project involving construction of 417 km long double track railway line from Mughalsarai to New Bhaupur (near Kanpur) on EPC basis,
Indian stocks may remain volatile in the near future as traders roll over positions in the futures & options (F&O) segment from November 2014 series to December 2014 series. The November 2014 derivatives contracts expire tomorrow, 27 November 2014.
In overseas markets, most Asian stocks rose as materials and health-care shares advanced, countering a decline in Japan's index amid a stronger yen. US stocks broke a three-session streak of record highs yesterday, 25 November 2014, as a renewed slide in oil prices dragged down energy shares.
At 9:21 IST, the S&P BSE Sensex was down 20.76 points or 0.07% at 28,317.29. The index rose 2.28 points at the day's high of 28,340.33, in early trade. The index fell 61.25 points at the day's low of 28,276.80 in early trade.
The CNX Nifty was down 15.95 points or 0.19% at 8,447.15. The index hit a high of 8,458.45 in intraday trade. The index hit a low of 8,439.45 in intraday trade.
The market breadth indicating the overall health of the market was positive. On BSE, 717 shares gained and 710 shares fell. A total of 37 shares were unchanged.
The BSE Mid-Cap index was down 10.02 points or 0.1% at 10,047.39, underperforming the Sensex. The BSE Small-Cap index was up 15.25 points or 0.14% at 11,071.21, outperforming the Sensex.
Maruti Suzuki declined 0.35%. The company said its "Wagon R" car model has crossed the milestone of 15 lakh cumulative sales. The company sold around 1.56 lakh units of Wagon R in 2013-14, In the current year, Wagon R sales have already exceeded 93,000 units. The company made the announcement after market hours yesterday, 25 November 2014.
On the achievement of this milestone, Mr Manohar Bhat, Vice President (Marketing) said, "Launched in 2000, Wagon R has been amongst India's top 5 best-selling brands. With its space, features and comfort, Wagon R has been the choice of the "Smart customer" and consistently remained among India's most loved car brands."
Strengthened by regular up-gradations to meet customer expectations and successful marketing initiatives focusing on the core proposition of 'Smart' while staying true to its leadership stance, Wagon R continues to win the hearts of Indian car buyers.
Adding to its popularity, Maruti Suzuki expanded the Wagon R family by bringing the CNG trim in 2010-11. In cities like Delhi and Mumbai, where CNG is available, Wagon R CNG accounts for over 50% of sales. To keep excitement going, in 2013-14 Maruti Suzuki introduced Wagon R Stingray to the Wagon R portfolio.
Powered by the 998cc K-series engine, Wagon R offers power of 68PS@6200 rpm, torque of 90 Nm /3500 rpm and a mileage of 20.5 km/I in petrol, 26.6km/kg in CNG (*as per Rule 115 of CMVR 1989).
GMR Infrastructure (GIL) gained 1.49% after the company said that a GIL led consortium has emerged as lowest bidder in international competitive bidding for two packages of Eastern Dedicated Freight Corridor project involving construction of 417 km long double track railway line from Mughalsarai to New Bhaupur (near Kanpur) on EPC basis, the company said after market hours on Tuesday, 25 November 2014. The Eastern Dedicated Freight Corridor extends from Ludhiana to Dankuni near Kolkata. Dedicated Freight Corridor Corporation of India (DFCCIL) received five bids for the project wherein the GIL led consortium quoted a price of Rs 5080 crore. The award of work will be subject to approval by DFCCIL.
As part of Asset Light Asset Right strategy, GMR Group is not required to provide any equity for the project since it is to be implemented on EPC basis. The project is financed by World Bank through DFCCIL. The project is to be completed in 45 months after award. GMR Infrastructure is currently implementing 2 railway projects for Rail Vikas Nigam (RVNL).
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 1168.94 crore yesterday, 25 November 2014, as per provisional data.
The government will announce data on gross domestic product (GDP) for Q2 September 2014 at 17:30 IST on Friday, 28 November 2014. India's GDP grew 5.7% in Q1 June 2014 over the corresponding period of the previous year.
The Reserve Bank of India (RBI) next undertakes monetary policy review on 2 December 2014. The central bank aims to limit consumer-price gains to 8% by January 2015 and 6% by January 2016. Over the longer term, the RBI aims to limit consumer-price gains to 4%, within a 2% band. The annual rate of inflation based on the combined consumer price index (CPI) for urban and rural India eased to 5.52% in October 2014 from 6.46% in September 2014, data released by the government on 12 November 2014 showed.
Most Asian stocks rose today, 26 November 2014, as materials and health-care shares advanced, countering a decline in Japan's index amid a stronger yen. Key benchmark indices in China, South Korea, Hong Kong and Taiwan were up 0.05% to 0.82%. Key benchmark indices in Singapore, Indonesia, and Japan fell 0.03% to 0.2%.
US stocks broke a three-session streak of record highs Tuesday, 25 November 2014, as a renewed slide in oil prices dragged down energy shares.
Economic data was mixed Tuesday, 25 November 2014. The Commerce Department reported the US economy grew at its fastest pace in more than a decade during the spring and summer. But readings on consumer confidence and central-Atlantic manufacturing missed forecasts. The US government upgraded its reading on third quarter gross domestic product to 3.9% from 3.5% reported last month The Conference Board said that consumer confidence fell to 88.7 in November, and a measure of manufacturing activity in the central Atlantic region came in below market expectations.
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