Key benchmark indices trimmed some gains after a firm start. Investors sentiment got a boost from strength in other Asian indices. The market breadth indicating the overall health of the market was strong. There were more than three gainers for every loser. The barometer index, the S&P BSE Sensex, was currently up 60.23 points or 0.22% at 27,841.06.
Foreign portfolio investors (FPIs) offloaded shares worth a net Rs 551.38 crore yesterday, 30 June 2015, as per the provisional data released by the stock exchanges. Domestic institutions bought shares worth a net Rs 580.59 crore yesterday, 30 June 2015, as per the provisional data released by the stock exchanges.
In overseas markets, Asian stocks were in green. There was little immediate reaction when the International Monetary Fund (IMF) confirmed Greece had missed a payment on its debt. The debt repayment was due yesterday, 30 June 2015. US stocks ended a choppy trading session higher yesterday, 30 June 2015. News from Greece dominated the trading day.
At 9:16 IST, the S&P BSE Sensex was up 60.23 points or 0.22% at 27,841.06. The index rose 72.97 points at the day's high of 27,853.80 at the onset of trading session. The index gained 42.82 points at the day's low of 27,823.65 at the onset of trading session.
The CNX Nifty was up 5.85 points or 0.07% at 8,374.35. The index hit a high of 8,384.95 in intraday trade. The index hit a low of 8,370.15 in intraday trade.
The BSE Mid-Cap index was up 42.68 points or 0.40% at 10,722.67. The BSE Small-Cap index was up 46.96 points or 0.42% at 11,122.31. Both these indices outperformed the Sensex.
The market breadth indicating the overall health of the market was strong, with more than three gainers for every loser. On BSE, 610 shares rose and 170 shares fell. A total of 36 shares were unchanged.
PSU OMCs were mostly higher after announcing a reduction in petrol and diesel prices after trading hours yesterday, 30 June 2015.
Indian Oil Corporation was down 0.65%. BPCL was up 0.32%. HPCL was up 1.30%
IOCL reduced retail selling price of petrol by Rs 0.31 a litre at Delhi (including state levies) with corresponding price revision in other states. The price reduction is effective from midnight of 30 June 2015/1 July 2015. The company announced reduction in retail selling price of diesel by Rs 0.71 a litre at Delhi (including state levies) with corresponding price revision in other states.
Crompton Greaves was up 0.28% The company said that the company has received further communication from Avantha Holdings stating that the regulatory approvals for divesting its entire shareholding in Crompton Greaves Consumer Electricals, have been obtained from Reserve Bank of India and Competition Commission of India. The announcement was with reference to the earlier announcement of the company on 23 April 2015 regarding one of the entities of the promoter group of the Company (Avantha Holdings ("AHL")) proposes to divest its entire shareholding in Crompton Greaves Consumer Electricals ("CGCEL"). The announcement was made after market hours yesterday, 30 June 2015.
MphasiS was up 1.53%. The company announced the signing of a definitive agreement to transfer a significant portion of its domestic business, subject to regulatory approvals, to Hinduja Global Solutions (HGS), a global BPM leader in optimizing customer experience for clients.The announcement was made after market hours yesterday, 30 June 2015.
Data released by the government after trading hours yesterday, 30 June 2015, showed that the output of Eight Core Industries increased 4.4% in May 2015 over May 2014. The cumulative growth during April to May 2015 was 2.1% over the corresponding period in the previous year.
The India Meteorological Department (IMD) said in its daily monsoon update issued yesterday, 30 June 2015, that the Southwest Monsoon has been vigorous over East Uttar Pradesh and active over Punjab, Himachal Pradesh and Jammu & Kashmir during the past 24 hours until 8:30 IST, IMD said.
For the country as a whole, the cumulative rainfall during this year's monsoon season was 16% above the Long Period Average (LPA) until 30 June 2015. Region wise, the southwest monsoon was 31% above the LPA in Northwest India, 23% above the LPA in Central India, 19% above the LPA in South Peninsula and 1% above the LPA in East & Northeast India until 30 June 2015.
On Friday, 26 June 2015, the IMD had announced that the monsoon has covered the entire country.
The June-September southwest monsoon is critical for the country's agriculture because a considerable part of the country's farmland is dependent on the rains for irrigation.
In overseas markets, Asian stocks edged higher today, 1 July 2015, as investors appear to take in stride Greece's missed loan payment to the IMF. Key equity benchmark indices Japan, Indonesia, South Korea, Singapore and Taiwan were up 0.22% to 0.95%. China's Shanghai Composite was down 0.31%.
Global markets stabilized even as Greece ended up defaulting on its euro 1.55 billion loan ($1.73 billion) to the International Monetary Fund, with creditors rejecting a last-ditch effort to buy more time.
In China, HSBC China manufacturing purchasing managers' index, a gauge of nationwide manufacturing activity, rose to a final reading of 49.4 in June from 49.2 in May, HSBC Holdings PLC and research firm Markit said today, 1 July 2015.
China's official manufacturing purchasing managers index was flat at 50.2 in June compared with a month ago, the China Federation of Logistics and Purchasing, which issues the data with the National Bureau of Statistics, said in a statement. China's official nonmanufacturing purchasing managers' index rose to 53.8 in June from 53.2 in May.
US stocks ended a choppy trading session higher yesterday, 30 June 2015. News from Greece dominated the trading day.
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