Key benchmark indices extended decline in morning trade albeit amid intense volatility. The barometer index, the S&P BSE Sensex was currently off 27.55 points or 0.1% at 28,823.42. The market breadth indicating the overall health of the market turned negative from positive.
As a measure to incentivise long term investors, the Reserve Bank of India (RBI) yesterday, 5 February 2015, allowed foreign portfolio investors (FPIs) to invest in government securities the coupons received on their existing investments in government securities.
Shares of firms engaged in oil exploration & production (E&P) advanced along with crude oil prices. Tata Communications advanced after the company said that it has won a multi-year contract with the KION Group, the second largest global manufacturer of forklift trucks and warehouse technology. PTC India tumbled after poor Q3 earnings.
Foreign portfolio investors sold shares worth a net Rs 27.43 crore yesterday, 5 February 2015, as per provisional data.
Domestic institutional investors (DIIs) bought shares worth a net Rs 325.61 crore yesterday, 5 February 2015, as per provisional data released by the stock exchanges.
In the overseas markets, Asian stock markets were mixed today, 6 February 2015, ahead of the closely-watched US jobs report while apprehension about Greece's bailout program also weighed on sentiment. US stock markets advanced yesterday, 5 February 2015, encouraged by stabilization in oil and shaking off concerns about Greece ahead of US jobs report.
In the foreign exchange market, the rupee edged higher against the dollar.
Brent crude oil futures extended gains registered during the previous trading session.
At 10:17 IST, the S&P BSE Sensex was down 27.55 points or 0.1% at 28,823.42. The index rose 71.88 points at the day's high of 28,922.85 in morning trade. The index fell 59.26 points at the day's low of 28,791.71 in morning trade.
The CNX Nifty was down 14.85 points or 0.17% at 8,696.85. The index hit a high of 8,726.20 in intraday trade. The index hit a low of 8,689.80 in intraday trade.
The BSE Mid-Cap index was down 47.81 points or 0.45% at 10,555.76. The BSE Small-Cap index was down 70.67 points or 0.63% at 11,212.47. The decline in both these indices was higher than the Sensex's decline in percentage terms.
The market breadth indicating the overall health of the market turned negative from positive. On BSE, 1,225 shares declined and 800 shares advanced. A total of 78 shares were unchanged.
Shares of firms engaged in oil exploration & production (E&P) advanced along with crude oil prices. Cairn India (up 2.35%), ONGC (up 0.06%), Oil India (up 0.94%), and Reliance Industries (up 0.29%) edged higher. Higher crude oil prices will result in higher realization from crude sales for oil exploration firms.
Tata Communications rose 0.48% at Rs 408.50. Tata Communications during market hours today, 6 February 2015 said that it has won a multi-year contract with the KION Group, the second largest global manufacturer of forklift trucks and warehouse technology, to provide WAN services to the group's 280 sites and 22,000 employees across 30 countries worldwide. The $20 million deal will see Tata Communications replace the KION Group's existing stable of multiple WAN providers with a single, global, intelligent network, Tata Communications said in a statement.
Indusind Bank fell 0.95% at Rs 856.25. The stock hit a high of Rs 868.55 and a low of Rs 853.85 so far during the day. IndusInd Bank after market hours yesterday, 5 February 2015 said that it has on 5 February 2015 inaugurated a new branch in Chandigarh. The bank plans to further strengthen its presence and customer reach in Punjab and Haryana with more branches in the coming quarters. With the inauguration of a new branch, IndusInd Bank now has 9 branches in Chandigarh.
GMR Infrastructure (GMR Infra) fell 0.56% at Rs 17.90. The stock hit a high of Rs 18.20 and a low of Rs 17.70 so far during the day. GMR Infra before market hours today, 6 February 2015 said that the Delhi High Court vide it's order, dated 22 January 2015 had issued directions that the current aeronautical tariffs for Delhi International Airport Private (DIAL) determined for the first control period remain in effect until appeal against Airports Economic Regulatory Authority of India (AERA) tariff determination for the first control period is disposed off by AERAAT. With the High Court order, tariff at Delhi Airport will remain at current levels till the time DIAL's appeal is decided upon by AERAAT, GMR Infra said. AERA has accordingly extended the tariff order for first control period in line with Delhi High Court order. Meanwhile as a process for determining the aeronautical tariffs for second five-year control period spanning fiscal years 2015 through 2019, AERA has issued (i) a consultation paper on 28 January 2015 and (ii) a public notice dated 29 January 2015. Hence AERA's final determination of the aeronautical tariffs for the second control period will be subject to disposal f DIAL's appeal against AERA's tariff order for the first control period, by AERAAT, GMR Infra said. Completion of the consultative process which will include consideration of responses to AERA's consultation paper from DIAL and other stakeholders, GMR Infra said.
PTC India fell 8.49% to Rs 85.65 after net profit declined 92.70% to Rs 6.63 crore on 7.87% rise in net sales to Rs 2818.97 crore in Q3 December 2014 over Q3 December 2013. The result was announced after market hours yesterday, 5 February 2015.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 61.725, compared with its close of 61.74 during the previous trading session.
Brent crude oil futures extended gains registered during the previous trading session. Brent for March settlement was up 43 cents at $57 a barrel. The contract had advanced $2.41 a barrel or 4.44% to settle at $56.57 a barrel during the previous trading session.
As a measure to incentivise long term investors, the Reserve Bank of India (RBI) yesterday, 5 February 2015, allowed foreign portfolio investors (FPIs) to invest in government securities the coupons received on their existing investments in government securities. These investments shall be kept outside the applicable limit for investments by FPIs in government securities, currently capped at $30 billion, the RBI said in a notification.
Asian stock markets were mixed today, 6 February 2015, ahead of the closely-watched US jobs report while apprehension about Greece's bailout program also weighed on sentiment. Key indices in Japan, Singapore, and Indonesia were up 0.58% to 0.8%. Key indices in China, Hong Kong, Taiwan, and South Korea were off 0.13% to 1.14%.
Trading in US index futures indicated that the Dow could fall 15 points at opening bell today, 6 February 2015. US stock markets advanced yesterday, 5 February 2015, encouraged by stabilization in oil and shaking off concerns about Greece ahead of US jobs report. The US government is schedule to release nonfarm payroll data for January 2015 later in the global day today, 6 February 2015.
In the week ending 30 January, the advance figure for seasonally adjusted initial jobless claims in the US was 278,000, an increase of 11,000 from the previous week's revised level, data from Labor Department showed yesterday, 5 February 2015. The previous week's level was revised up by 2,000 from 265,000 to 267,000.
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