Key benchmark indices trimmed gains after a positive opening to the day's trading session. The barometer index, the S&P BSE Sensex was up 49.60 points or 0.18% at 27,107.01. The market breadth indicating the overall health of the market was strong with over three gainers for every loser. Select PSU stocks fell after the cabinet committee on economic affairs on Wednesday, 10 September 2014 approved stake-sales. Tata Motors rose after the company's British luxury car unit Jaguar Land Rover delivered a positive sales performance in August 2014. Most Asian stocks rose today, 11 September 2014
At 9:28 IST, the S&P BSE Sensex was up 49.60 points or 0.18% at 27,107.01. The index gained 93.37 points at the day's high of 27,150.78 in early trade. The index rose 49.29 points at the day's low of 27,106.70 in early trade.
The CNX Nifty was up 22.10 points or 0.27% at 8,116.20. The index hit a high of 8,127.95 in intraday trade. The index hit a low of 8,115.05 in intraday trade.
The market breadth indicating the overall health of the market was strong with over three gainers for every loser. On BSE, 1,326 shares gained and 338 shares fell. A total of 40 shares were unchanged.
The BSE Mid-Cap index was up 72.93 points or 0.74% at 9,923.72. The BSE Small-Cap index was up 101.50 points or 0.93% at 11,052.53. Both these indices outperformed the Sensex.
The total turnover on BSE amounted to Rs 335 crore by 09:30 IST.
Among the 30-share Sensex pack, 24 stocks gained and rest of them declined.
Select PSU stocks fell after the cabinet committee on economic affairs on Wednesday, 10 September 2014 approved stake-sales.
Coal India (CIL) (down 1.98%), Oil and Natural Gas Corporation (ONGC) (down 1.88%) and NHPC (down 3.35%) declined. The government will sell a 5% stake in ONGC, 10% in CIL and 11.36% in NHPC.
Tata Motors rose 0.15% after the company's British luxury car unit Jaguar Land Rover delivered a positive sales performance in August 2014. Jaguar Land Rover (JLR) on Wednesday, 10 September 2014 reported 9% increase in sales to 30,249 vehicles in August 2014 over August 2013.
Jaguar sales in the month of August retailed 5,074. Land Rover sales stood at 25,175 vehicles in August 2014.
NTPC rose 0.9%. NTPC said after market hours on Wednesday, 10 September 2014, that the Board of Directors of the company at its meeting held on 10 September 2014, has accorded the investment approval to Tanda Super Thermal Power Project in the state of Uttar Pradesh at an appraised current estimated cost of Rs 9188.98 crore and Rammam Hydro Electric Project in the state of West Bengal at an appraised current estimated cost of Rs 1381.84 crore.
IDFC gained 2.96% to Rs 149.20. IDFC after trading hours on Wednesday, 10 September 2014, announced the opening of share sale to institutional investors. The company intends to raise up to Rs 2000 crore from the sale of shares to Qualified Institutional Buyers (QIB). The floor price for the issue has been set at Rs 143.70 per share.
IndusInd Bank rose 0.09%. IndusInd Bank said after market hours on Wednesday, 10 September 2014, that the bank has opened two branches in Chandigarh and one branch in Mohali in the state of Punjab. The bank plans to further strengthen its presence and customer reach in Punjab and Haryana with more branches in the coming quarters.
Data due later this week and early next week is likely to show easing of inflation in August 2014 and a muted growth in industrial production in July 2014. The annual rate of inflation based on the combined consumer price indices (CPI) for urban and rural India is seen decelerating to 7.8% in August 2014, from 7.96% in July 2014, as per the median estimate of a poll of economists carried out by Capital Market. The government will release the CPI data for August 2014 at 17:30 IST tomorrow, 12 September 2014. The Reserve Bank of India (RBI) is targeting CPI inflation at 8% by January 2015 and 6% by January 2016.
Meanwhile, the growth in industrial production is seen decelerating to 1.9% in July 2014, from 3.4% in June 2014, as per the median estimate of a poll of economists carried out by Capital Market. Industrial production growth had eased to 3.4% in June 2014, from 5% increase recorded in May 2014. The government will release the industrial production data for July 2014 at 17:30 IST tomorrow, 12 September 2014.
The annual rate of inflation based on the monthly Wholesale Price Index (WPI) is seen decelerating to 4.43% in August 2014, from 5.19% in July 2014, as per the median estimate of a poll of economists carried out by Capital Market. The government will release the WPI data for August 2014 at 12 noon on Monday, 15 September 2014.
Meanwhile, Finance Minister Arun Jaitley was released from hospital on Wednesday, 10 September 2014 after a longer-than-expected stay for treatment, and will miss a meeting of finance ministers from the Group of 20 nations in Australia next week. Jaitley was admitted to a private hospital in New Delhi on 1 September 2014 for planned surgery to manage a long-standing diabetic condition. He had been expected to leave after a few days, a report indicated.
Meanwhile, the provisional data released by the stock exchanges after trading hours yesterday, 10 September 2014, showed that foreign portfolio investors (FPIs) sold shares worth a net Rs 9.91 crore on that day.
Most Asian stocks rose today, 11 September 2014. Key benchmark indices in China, Hong Kong, Japan, Indonesia and Singapore rose by 0.11% to 0.52%. Key benchmark indices in Taiwan and South Korea fell by 0.05% to 0.12%.
US stocks edged higher on Wednesday, 10 September 2014 helped by rebound in Apple shares.
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