Key benchmark indices hovered in a narrow range in early afternoon trade. The barometer index, the S&P BSE Sensex was currently up 69.96 points or 0.26% at 27,473.50. The market breadth indicating the overall health of the market was positive. Capital goods stocks edged higher on renewed buying. IndusInd Bank scaled record high. Gruh Finance also scaled record high.
Earlier during the day, key benchmark indices reversed initial decline to hit intraday high in volatile early trade. The 50-unit CNX Nifty index hit one week high in morning trade.
In the foreign exchange market, the rupee edged higher against the dollar on selling of the American currency by exporters.
Brent crude futures declined today, 31 December 2014 as weak Chinese manufacturing data and demand concerns outweighed supply disruptions in Libya.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 277.92 crore yesterday, 30 December 2014, as per provisional data.
In overseas markets, Asian stocks were mostly higher today, 31 December 2014. US stocks fell yesterday, 30 December 2014, pushing the Dow Jones Industrial Average back below 18,000, as investors engaged in profit-taking to pull major indexes from record levels.
At 12:20 IST, the S&P BSE Sensex was up 69.96 points or 0.26% at 27,473.50. The index gained 98.87 points at the day's high of 27,502.41 in morning trade, its highest level since 29 December 2014. The index fell 57.54 points at the day's low of 27,346 in early trade.
The CNX Nifty was up 21.70 points or 0.26% at 8,269.95. The index hit a high of 8,280.05 in intraday trade, its highest level since 24 December 2014. The index hit a low of 8,243.75 in intraday trade.
The market breadth indicating the overall health of the market was positive. On BSE, 1,540 shares gained and 1,054 shares fell. A total of 124 shares were unchanged.
The BSE Mid-Cap index was up 85.86 points or 0.84% at 10,344.50. The BSE Small-Cap index was up 73.09 points or 0.67% at 11,044.19. Both these indices outperformed the Sensex.
The total turnover on BSE amounted to Rs 1294 crore by 12:20 IST compared to Rs 955 crore by 11:20 IST.
Among the 30-share Sensex pack, 24 stocks gained and rest of them declined.
Dr Reddy's Laboratories (up 2.04%), Hindalco Industries (up 1.34%) and Axis Bank (up 0.9%) edged higher from the Sensex pack.
Capital goods stocks edged higher on renewed buying. ABB India (up 1.04%), Bharat Heavy Electricals (Bhel) (up 1.96%), BEML (up 7.68%), Bharat Electronics (up 5.5%), Crompton Greaves (up 0.67%), L&T (up 0.04%), Siemens (up 1.08%) and Thermax (up 0.54%) gained.
HDFC shed 0.49%. Gruh Finance rose 1.69% to Rs 274.35 after scaling a record high of Rs 280.50 in intraday trade. Gruh Finance is a subsidiary of housing finance major HDFC.
IndusInd Bank gained 1.8% to Rs 806 after scaling a record high of Rs 809 in intraday trade.
KEC International jumped 5.47% after the company said that it won new orders of Rs 1412 crore in its transmission and cables businesses. The company made announcement before trading hours today, 31 December 2014.
SpiceJet fell 3.65% after the company extended its flight cancellations till 31 January 2015, affecting at least 329 flights.
In the foreign exchange market, the rupee edged higher against the dollar on selling of the American currency by exporters. The partially convertible rupee was hovering at 63.305, compared with its close of 63.38 yesterday, 30 December 2014.
Brent crude futures declined today, 31 December 2014 as weak Chinese manufacturing data and demand concerns outweighed supply disruptions in Libya. Brent for February settlement was down 70 cents at $57.20 a barrel. The contract had risen marginally by 2 cents or 0.03% to settle at $57.90 a barrel on yesterday, 30 December 2014.
Asian stocks were mostly higher today, 31 December 2014. Key benchmark indices in Taiwan, Hong Kong and China rose by 0.42% to 1.99%. Singapore's Straits Times index fell 0.03%.
Stock markets in South Korea are shut today, 31 December 2014. Japanese markets will remain closed from today, 31 December 2014 to Friday, 2 January 2015 and will reopen on Monday, 5 January 2015.
The HSBC China Manufacturing Purchasing Managers' Index, a gauge of nationwide manufacturing activity, fell to a final reading of 49.6 in December from 50 in November, HSBC Holdings PLC said today, 31 December 2014. A reading below 50 indicates a contraction in manufacturing activity from the previous month, whereas a reading above indicates expansion. The official manufacturing PMI, a competing index published by China's National Bureau of Statistics, is due tomorrow, 1 January 2015.
Trading in US index futures indicated that the Dow could rise 24 points at the opening bell today, 31 December 2014. US stocks fell yesterday, 30 December 2014, pushing the Dow Jones Industrial Average back below 18,000, as investors engaged in profit-taking to pull major indexes from record levels.
A report yesterday, 30 December 2014 showed consumer confidence increased less than estimated this month. The Conference Board's consumer confidence index increased to 92.6 in December from a revised 91 a month earlier. Another report showed home prices in 20 US cities rose at a slower pace in the year ended in October.
Most global markets will remain closed tomorrow, 1 January 2015, for New Year holiday.
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