Key benchmark indices eked out small gains in lacklustre trade. The barometer index, the S&P BSE Sensex, advanced 40.08 points or 0.19%, off close to 45 points from the day's high and up about 60 points from the day's low. The Sensex, and the 50-unit CNX Nifty, both, attained their highest closing level in nearly two weeks. The market breadth, indicating the overall health of the market, once again turned positive from negative in late trade. In the foreign exchange market, the rupee edged higher against the dollar in choppy trade on broad decline in dollar triggered by speculation Federal Reserve speakers including Chairman Ben S. Bernanke will reiterate economic growth isn't yet sufficient to trim stimulus.
Indian stocks gained for the third day in a row today, 19 November 2013. From a recent low of 20194.40 on 13 November 2013, the Sensex has garnered 696.42 points or 3.44% in three trading sessions. The index has fallen 273.70 points or 1.29% in November so far (till 19 November 2013). The Sensex has garnered 1,464.11 points or 7.53% in calendar 2013 so far (till 19 November 2013). From a 52-week low of 17,448.71 on 28 August 2013, the Sensex has risen 3,442.11 points or 19.72%. From a record high of 21,321.53 on 3 November 2013, the Sensex has fallen 430.71 points or 2.02%.
Coming back to today's trade, index heavyweight and cigarette major ITC edged lower in volatile trade. IT major Infosys extended intraday gains in late trade. Small car maker Maruti Suzuki India edged higher. Bharat Heavy Electricals (Bhel) rose after the company said it has bagged a main plant package contract worth Rs 1300 crore for setting up thermal unit from NTPC. Offshore oil services providers gained on renewed buying. Realty stocks rose on renewed buying.
The S&P BSE Sensex garnered 40.08 points or 0.19% to 20,890.82, its highest closing level since 6 November 2013. The index gained 83.66 points at the day's high of 20,934.40 in early trade. The index fell 22.05 points at the day's low of 20,828.69 in afternoon trade.
The CNX Nifty rose 14.35 points or 0.23% to 6,203.35, its highest closing level since 6 November 2013. The index hit a high of 6,212.40 and a low of 6,180.20 in intraday trade.
The BSE Mid-Cap index rose 0.46% and the BSE Small-Cap index gained 0.32%. Both the indices outperformed the Sensex.
The BSE Realty index (up 1.51%), BSE Capital Goods index (up 1.28%), BSE Teck index (up 0.46%), BSE Bankex (up 0.35%), BSE IT index (up 0.28%), BSE Auto index (up 0.25%), BSE PSU index (up 0.25%) and BSE Metal index (up 0.2%), outperformed the Sensex.
The BSE Consumer Durables index (down 0.69%), BSE FMCG index (down 0.45%), BSE HealthCare index (down 0.24%), BSE Power index (down 0.18%), and BSE Oil & Gas index (up 0.12%), underperformed the Sensex.
The total turnover on BSE amounted to Rs 1954 crore, lower than Rs 2037 crore on Monday, 18 November 2013.
The market breadth, indicating the overall health of the market, once again turned positive from negative in late trade. Earlier, the breadth had turned negative from positive in early afternoon trade. On BSE, 1,294 shares gained and 1,206 shares dropped. A total of 158 shares were unchanged.
Among the 30-share Sensex pack, 15 stocks gained and rest of them declined.
Index heavyweight and cigarette major ITC shed 0.84% at Rs 323 in volatile trade. The stock hit high of Rs 327.85 and low of Rs 322.65.
IT major Infosys rose 1.2% to Rs 3,441. The stock hit a 52-week high of Rs 3,447.90 in intraday trade.
Small car maker Maruti Suzuki India gained 2.79%.
Metal shares were mixed. JSW Steel (up 1.46%), Hindustan Copper (up 2.91%), Jindal Steel & Power (up 4.11%) and Hindalco Industries (up 4.16%) edged higher. Hindustan Zinc (down 1.45%), Sesa Sterlite (down 1.8%), Tata Steel (down 1.05%) and Sail (down 0.91%) declined.
Telecom stocks rose on renewed buying. Bharti Airtel (up 1.94%), Idea Cellular (up 1.24%) and Reliance Communications (up 1.56%) gained.
Most pharma stocks declined. Cipla (down 0.55%), Dr Reddy's Laboratories (down 0.51%), and Sun Pharmaceutical Industries (down 0.66%), dropped. Ranbaxy Laboratories rose 0.6%.
IPCA Laboratories fell 0.04%. The company said it has entered into an agreement with Avik Pharmaceutical to acquire 50% of its paid-up equity share capital for Rs 6.51 crore. The announcement was made after market hours on Monday, 18 November 2013.
IPCA Laboratories said it has entered into an agreement with Avik Pharmaceutical (Avik) to acquire 50% of its paid-up equity share capital, partly through purchase of equity shares from its existing shareholders and partly through subscription to its fresh equity share capital on a preferential allotment basis, both aggregating to approx Rs 6.51 crore. Avik is an unlisted privately held company which was incorporated in the year 1979 and is currently engaged in the development, manufacturing and marketing of Active Pharmaceutical Ingredients (APIs) being Steroids and male & female hormones from its manufacturing facilities situated at Vapi in Gujarat, IPCA said.
Sabero Organics Gujarat fell 4.17% after the company said that the Gujarat Pollution Control Board advised the company to close production process at its Sarigam unit in Gujarat due to environmental concerns. The announcement was made after market hours on Monday, 18 November 2013.
Sabero Organics Gujarat said it received a letter dated 15 November 2013, from the Environmental Engineer, Gujarat Pollution Control Board (GPCB), Gandhi Nagar, advising the company to close its production process at its Sarigam unit in Gujarat, within 15 days of the letter, stating that there were certain non-compliances of the environmental parameters.
The company said it has been making significant investments in the last two years for improving the environmental infrastructure and has been adhering to the environmental standards. The company added that it is taking necessary steps to address the concerns expressed by GPCB and to seek their permission to continue the operations.
Most bank pivotals edged higher. State Bank of India (SBI) rose 3.18%.
ICICI Bank rose 0.82%. ICICI Bank on Monday, 18 November 2013, said that the bank acting through its Dubai branch, priced an issuance of 5.5 year fixed rate notes of an aggregate principal amount of $750 million. The notes were sold under the Rule 144A/Reg S format. The notes carry a coupon of 4.8% and were offered at an issue price of 99.609. The announcement was made after market hours on Monday, 18 November 2013.
Indusind Bank gained 2.38%. The bank said during market hours that it has opened a new branch in Gomti Nagar area of Lucknow. With the inauguration of the new branch in Lucknow, Induslnd Bank now has four branches in Lucknow and overall forty nine branches in the state of Uttar Pradesh. The bank has also announced its plans to further strengthen its presence and customer reach in Uttar Pradesh.
But, HDFC Bank declined 1.29%.
Karur Vysya Bank fell 1.87% at Rs 328.50. A block deal of 2 lakh shares was executed on the counter at Rs 328 per share at 09:45 IST on BSE today, 19 November 2013. Another block deal of 30,024 shares was struck at Rs 330 per share at 09:52 IST on BSE today, 19 November 2013.
Indian Overseas Bank fell 0.19% to Rs 53.05. The state-run bank during market hours today, 19 November 2013, said that the bank's Committee of Directors for preferential issue of shares met on 18 November 2013 and has fixed the price at Rs 52.23 per share and determined to allot 22.97 crore equity shares to Government of India aggregating to about Rs 1200 crore subject to receipt of funds from Government of India and approval by shareholders at the EGM to be held on 16 December 2013 at Chennai.
Capital goods stocks gained on renewed buying. L&T (up 1.82%), ABB (up 2.33%), BEML (up 0.43%) and Bharat Electronics (up 0.33%), gained.
Bharat Heavy Electricals (Bhel) reversed intraday losses after the company said it has bagged a main plant package contract worth Rs 1300 crore for setting up thermal unit from NTPC. The stock rose 1.25% at Rs 141.60 The stock hit a high of Rs 142.15 and low of Rs 138.10.
Bhel said during trading hours today, 19 November 2013, that it received a major order from NTPC for supply and installation of the main plant package for a power project in Uttar Pradesh, involving one thermal power generating unit of 500 megawatts (MW). Valued at Rs 1300 crore, the order for the supply and installation of the steam generator, steam turbine generator and electrics package for the upcoming 500 MW Feroze Gandhi Unchahar Thermal Power Project (TPP), was received from NTPC BHEL Power Projects (NBPPL), a joint venture between NTPC and Bhel.
Bhel said the scope of work in the contract envisages design, engineering, manufacture, supply and erection and commissioning of steam generator, steam turbine generator and their auxiliaries; electrics and switchyard with associated civil works along with controls & instrumentation (C&I).
The key equipment for the project will be manufactured at Bhel's Trichy, Ranipet, Haridwar, Hyderabad, Bangalore and Bhopal Plants, while the company's power sector - Northern Region will be responsible for erection and commissioning of the equipment, Bhel said in a statement.
Power Grid Corporation of India dropped 1.15%. The company after market hours on Monday, 18 November 2013, said it has filed the Red Herring Prospectus (RHP) in connection with the Follow on Public Offer (FPO) of 78.70 crore equity shares, constituting 17% of the company's existing paid up capital. The FPO consists of a fresh issue of 60.18 crore equity shares, or 13% of existing paid up capital, and a disinvestment by the Government of India of 18.51 crore equity shares, or 4% of existing paid up capital.
NHPC was flat. The company said after market hours on Monday, 18 November 2013, that the third unit (Unit No 2) of Uri-ll HE Project has been successfully commissioned with effect from 16 November 2013.
Bata India rose 3.97% to Rs 1,031.40 after hitting record high of Rs 1,036 in intraday trade.
Bosch rose 0.35%. The company during market hours today, 19 November 2013, said that the illegal 'Tool Down' strike that was resorted to by the workmen of Bangalore plant has been withdrawn with effect from today, 19 November 2013, beginning with the first shift of production. Earlier on 15 November 2013, Bosch had said that it had got notice of 'Tool Down' strike by union and workmen of Bangalore plant.
Realty stocks rose on renewed buying. DLF (up 0.54%), HDIL (up 4.56%), Unitech (up 3.53%), Godrej Properties (up 3.47%) and Sobha Developers (up 0.69%) gained.
Shares of offshore oil services providers gained on renewed buying. Aban Offshore (up 19.83%), GOL Offshore (up 11.79%), Global Offshore Services (up 6.45%), Dolphin Offshore Enterprises (India) (up 9.89%) and SEAMEC (up 2.7%) gained.
Financial Technologies (India) rose 2.07% after the company said its unit Financial Technologies Singapore sold its stake in SMX to ICE Singapore Holdings for $150 million. The announcement was made before trading hours today, 19 November 2013.
Financial Technologies (India) (FTIL) said that its wholly-owned subsidiary, Financial Technologies Singapore (FTSPL), sold its 100% stake in SMX (together with its wholly-owned subsidiary SMX CC) to ICE Singapore Holdings, an entity owned by the Intercontinental Exchange Group, Inc. for $150 million.
The transaction was approved by the board of directors of FTSPL and FTIL on 18 November 2013 with signing of definitive agreements and is subject to certain customary closing conditions and approvals, the company said.
FTIL said it will primarily utilise the amount towards repayment of outstanding debt towards external commercial borrowings (ECB) and foreign currency loan (FCL) to banks, pursuant to which FTIL will become debt-free.
Jet Airways (India) rose 3.27% after a promoter entity of the company offloaded 7.89% stake in the open market on Monday, 18 November 2013, as the carrier gears up to complete the 24% stake sale to Etihad. Shares of Jet Airways (India) gained as the bulk deal is seen as the final step in the completion of a 24% stake sale to Abu Dhabi's Etihad Airways.
Tail Winds, a promoter entity of Jet Airways (India), sold a total of 68.15 lakh shares amounting to 7.89% stake on BSE and NSE on Monday, 18 November 2013. Tail Winds sold 48.15 lakh shares on BSE at Rs 310.23 each. It sold 20 lakh shares shares on NSE at Rs 310.07 each. Merrill Lynch Capital Markets Espana acquired 29 lakh shares of Jet Airways for around Rs 90 crore on BSE. Besides, Deutsche Securities Mauritius purchased 12.60 lakh shares of the carrier for Rs 39 crore on NSE. The shares were bought at Rs 310 per share by these two foreign entities.
Other aviation shares also gained. SpiceJet (up 2.33%) and Kingfisher Airlines (up 1.09%) gained.
Sadbhav Engineering rose 1.6% after the company said it has been declared the successful bidder by Delhi Metro Rail Corporation for a contract aggregating Rs 50.96 crore. The announcement was made during trading hours today, 19 November 2013.
In the foreign exchange market, the rupee edged higher against the dollar in choppy trade on broad decline in dollar triggered by speculation Federal Reserve speakers including Chairman Ben S. Bernanke will reiterate economic growth isn't yet sufficient to trim stimulus. The partially convertible rupee was hovering at 62.36, compared with its close of 62.41/42 on Monday, 18 November 2013.
European stocks dropped on Tuesday, 19 November 2013, retreating from multiyear highs reached the prior day. Key benchmark indices in UK, Germany and France fell by 0.46% to 0.99%.
German investor confidence rose to the highest level in more than four years, signaling that the economic recovery in Europe's largest economy remains on track even after a third-quarter slowdown. The ZEW Center for European Economic Research in Mannheim said its index of investor and analyst expectations, which aims to predict economic developments six months in advance, climbed for a fourth month to 54.6 in November. That's the strongest reading since October 2009 and up from 52.8 the prior month.
Asian markets were mostly lower on Tuesday, 19 November 2013. Key benchmark indices in Hong Kong, China, Singapore, and Japan fell by 0.01% to 0.34%. Key benchmark indices in Taiwan, Indonesia and South Korea rose by 0.11% to 1.04%.
Consumers confidence in China continued to pick up in the third quarter, as consumers from small cities grew more optimistic about their financial conditions and were willing to spend more against the backdrop of a modest economic recovery, a private survey released Tuesday showed. China's consumer confidence index was at 110 in the third quarter, steady from the second quarter and up from 106 in the third quarter of 2012, according to Nielsen -- a global consumer information provider. Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism.
Trading in US index futures indicated that the Dow could slide 15 points at the opening bell on Tuesday, 19 November 2013. Most US stocks fell on Monday, 18 November 2013, after cautious comments by activist investor Carl Ichan on the equities market. Investors will closely watch minutes of the Fed's October 29-30 meeting due tomorrow, 20 November 2013. Federal Reserve Chairman Ben Bernanke will speak at the National Economists Club in Washington later today, 19 November 2013.
At a Nov. 14 congressional hearing on her nomination to run the Fed, Vice Chairman Janet Yellen indicated she'll press on with the central bank's monetary stimulus until she sees a robust recovery, downplaying risks the policy is inflating asset bubbles.
New York Fed President William C. Dudley said on Monday, 18 November 2013, he's more hopeful about the economy while indicating no change in bond buying. "While growth in 2013 has been disappointing, I believe a good case can be made that the pace of growth will pick up some in 2014 and then somewhat more in 2015. As growth picks up, I expect to see more substantial improvement in labor market conditions," Dudley said.
Economic growth in Brazil has started to recover as investment picks up, and in Mexico the economy is poised to bounce back along with exports, the Organization for Economic Co-operation and Development (OECD) said in an economic report published on Tuesday, 19 November 2013. Chile's economy, meanwhile, has slowed this year, and will accelerate next year and in 2015, the Paris-based OECD said in the report.
Powered by Capital Market - Live News
