Key benchmark indices eked out small gains in what was a choppy trading session. The barometer index, the S&P BSE Sensex, was provisionally up 29.71 points or 0.11% at 26,420.67. European stocks were in green. Asian stocks ended higher. The market breadth indicating the overall health of the market was positive. The BSE Mid-Cap index was up 1.1%. The BSE Small-Cap index was up 1.21%. Both these indices outperformed the Sensex. Realty stocks extended recent gains triggered by the latest data showing inflation based on wholesale price index (WPI) eased in July. Auto stocks rose with Tata Motors, Maruti Suzuki India and Mahindra & Mahindra (M&M) scaling record high. Force Motors galloped to 52-week high. Airline stocks rose as crude oil prices fell.
A further decline in crude oil prices and a rally in US stocks on Monday, 18 August 2014, triggered a firm opening on the domestic bourses and took the Sensex and the 50-unit CNX Nifty to record high.
Indian stocks gained for the sixth day in a row today, 19 August 2014.
As per provisional figures, the S&P BSE Sensex was up 29.71 points or 0.11% to 26,420.67. The index jumped 139.71 points at the day's high of 26,530.67 in early trade, a record high for the index. The index fell 3.12 points at the day's low of 26,387.84 in late trade.
The CNX Nifty was up 23.25 points or 0.3% to 7,897.50, as per provisional figures. The index hit a high of 7,918.55 in intraday trade, a record high for the index. The index hit a low of 7,881.15 in intraday trade.
The total turnover on BSE amounted to Rs 3106 crore, higher than Rs 2584.39 crore on Monday, 18 August 2014.
The market breadth indicating the overall health of the market was positive. On BSE, 1,686 shares gained and 1,273 shares fell. A total of 102 shares were unchanged.
The BSE Mid-Cap index was up 100.52 points or 1.1% at 9,270.86. The BSE Small-Cap index was up 121.33 points or 1.21% at 10,168.80. Both these indices outperformed the Sensex.
Auto stocks rose. Tata Motors gained 2.95% to Rs 518.75 after hitting record high of Rs 520.50 in intraday trade. The company after market hours on Thursday, 14 August 2014, said that its global wholesales declined 8.46% at 80,151 units in July 2014 over July 2013. Global wholesales rose 5.98% at 80,151 units in July 2014 over June 2014.
Maruti Suzuki India rose 1.84% to Rs 2,757 after scaling a record high of Rs 2,758.30 in intraday trade.
Mahindra & Mahindra (M&M) advanced 3.77% to Rs 1,376 after scaling a record high of Rs 1,379.80 in intraday trade.
Ashok Leyland surged 7.39%.
Among two-wheeler makers, Hero MotoCorp (up 1.26%) and Bajaj Auto (up 3.14%) gained. But, TVS Motor Company fell 0.22%.
Realty stocks extended recent gains triggered by the latest data showing inflation based on wholesale price index (WPI) eased in July. Purchases of both residential and commercial property are largely driven by finance. DLF (up 1.06%), Sobha Developers (up 5.85%), Unitech (up 2.83%, Housing Development and Infrastructure (up 4.87%), D B Realty (up 4.94%) and Godrej Properties (up 1.91%) gained.
Airline stocks rose as crude oil prices fell. Jet Airways (India) (up 4.2%) and SpiceJet (up 1.85%) gained. Jet fuel or aviation turbine fuel (ATF) typically makes up almost half of an airline's operating cost. Prices of jet fuel are directly linked to crude oil prices. State-run oil marketing companies--Indian Oil Corporation (IOCL), Bharat Petroleum Corporation and Hindustan Petroleum Corporation revise jet fuel prices on the 1st and 16th of every month based on the average international crude price in the preceding fortnight.
Foreign portfolio investors (FPIs) bought shares worth a net Rs 473.42 crore on Monday, 18 August 2014, as per provisional data from the stock exchanges.
Meanwhile, India's macroeconomic worries have eased on falling crude oil prices. India imports about 80% of its crude oil requirement. Brent crude oil futures edged up towards $102 a barrel today, 19 August 2014, but stayed near a 14-month low reached in the previous session on weak demand and easing concerns over risks to supply. The October Brent crude contract was up 17 cents at $101.77 a barrel. The contract fell $1.93 a barrel to settle at $ 101.60 a barrel on Monday, 18 August 2014, after Iraqi Kurds recaptured a large chunk of the biggest dam in the country from Islamist militants, with help from US air power.
In the foreign exchange market, the rupee was slightly higher against the dollar. The partially convertible rupee was hovering at 60.77, compared with its close of 60.78 on Thursday, 14 August 2014. The currency market remained close on Friday, 15 August 2014, and Monday, 18 August 2014 on account of holidays.
India reportedly called off on Monday, 18 August 2014, peace talks with Pakistan, giving a jolt to renewed diplomatic efforts between the two nuclear-armed neighbours and adding to the troubles of Pakistan's beleaguered government. India said it would not attend talks involving the foreign secretaries of the two countries, which had been set to take place on 25 August 2014 in Islamabad, because of plans by Pakistan to consult Kashmiri separatists ahead of the meeting.
European stocks rose today, 19 August 2014, extending strong gains of the previous trading session as talks between Ukraine and Russia eased concern about the conflict between the two countries. Key benchmark indices in UK, France and Germany were up 0.39% to 0.94%.
UK inflation cooled more than forecast in July, giving the Bank of England room to keep its key interest rate at a record-low. The rate of price growth fell to 1.6% from 1.9% in June, the Office for National Statistics said today in London.
Foreign ministers from Russia, Ukraine, Germany, and France gathered in Berlin over the weekend to discuss talks for a ceasefire or a political solution in Ukraine, and Russia's Foreign Ministry said on Monday a 'certain progress' was achieved during the talks.
Asian stocks rose today, 19 August 2014, after a rally in US stocks on Monday, 18 August 2014, triggered by upbeat US housing data and hopes of progress in the Ukraine crisis. Key benchmark indices in China, Hong Kong, South Korea, Taiwan, Singapore, Japan, and Indonesia were up 0.16% to 1.12%.
Trading in US index futures indicated that the Dow could gain 33 points at the opening bell on Tuesday, 19 August 2014. US stocks registered solid gains on Monday, 18 August 2014, helped by deal news and easing Ukraine-Russia tensions. A better-than-expected reading on the housing market also boosted sentiment and kicked off a big week for economic data. US homebuilder sentiment rose in August to its highest since January, the National Association of Home Builders said on Monday, marking a third straight monthly gain.
The minutes from the last Federal Open Market Committee meeting will be released tomorrow, 20 August 2014. Federal Reserve Chairwoman Janet Yellen will give a speech on Friday, 22 August 2014, at the annual Fed summit in Jackson Hole, Wyo.
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