Key benchmark indices were slightly higher after seeing alternate bouts of rise and fall in mid-morning trade. The S&P BSE Sensex was up 21.74 points or 0.1%, up 65.85 points from the day's low and off 33.28 points from the day's high. The market breadth, indicating the overall health of the market, was strong.
Coal India gained in volatile trade. ICICI Bank reversed intraday fall. Power generation stocks were in demand on renewed buying. L&T recovered from intraday low after the company during market hours today, 21 October 2013 said that L&T Construction has secured new orders worth Rs 1333 crore in October 2013 in various business segments. Wipro rose ahead of its Q2 September 2013 results today, 22 October 2013.
A bout of volatility was seen in early trade as the key benchmark indices once again sink in red after turning positive from a lower start triggered by negative Asian stocks. Volatility continued as the key benchmark indices regained positive zone after turning negative after hitting intraday high in morning trade. Key benchmark indices were slightly higher after seeing alternate bouts of rise and fall in mid-morning trade.
Foreign institutional investors (FIIs) bought shares worth a net Rs 1031.79 crore on Monday, 21 October 2013, as per provisional data from the stock exchanges.
At 11:18 IST, the S&P BSE Sensex was up 21.74 points or 0.1% to 20,915.63. The index rose 55.02 points at the day's high of 20,948.91 in morning trade. The index fell 44.11 points at the day's low of 20,849.78 in early trade.
The CNX Nifty was up 12.55 points or 0.2% to 6,217.50. The index hit a high of 6,220.10 in intraday trade. The index hit a low of 6,187.90 in intraday trade.
The market breadth, indicating the overall health of the market, was strong. On BSE, 1,123 shares gained and 609 shares fell. A total of 110 shares were unchanged.
The total turnover on BSE amounted to Rs 718 crore by 11:20 IST as compared to Rs 451 crore by 10:20 IST.
Among the 30-share Sensex pack, 22 stocks gained and rest of them declined. Hero MotoCorp (down 1.26%), RIL (down 0.66%) and Cipla (down 0.71%) edged lower from the Sensex pack.
Coal India rose 2.02% to Rs 293.50 in volatile trade. The stock extended intraday gain after falling as much as 0.71% at the day's low of Rs 285.65.
ICICI Bank rose 1.46% to Rs 1025. The stock reversed fall after hitting an intraday low of Rs 998.
Power generation stocks were in demand on renewed buying. Tata Power Company (up 1.69%), Reliance Infrastructure (up 0.66%), CESC (up 1.03%), NTPC (up 0.51%), Reliance Power (up 2.72%), Adani Power (up 0.27%), JSW Energy (up 3.02%) edged higher.
L&T fell 0.11% to Rs 924.15. The stock recovered from an intraday low of Rs 916.25 after the company during market hours today, 21 October 2013 said that L&T Construction has secured new orders worth Rs 1333 crore in October 2013 in various business segments.
L&T said that in Water & Renewable Energy Business, orders valued at Rs 1095 crore have been received from various customers. The Waste Water Business has secured a major turnkey order from the Gujarat Water Supply and Sewerage Board for construction of underground drainage system in nine towns of Jamnagar and Porbandar districts of Gujarat.
A repeat order is also received from Naya Raipur Development Authority for construction of underground storm water pipelines, water supply network and other associated works at Naya Raipur.
Another turnkey order has been received from Kolkata Metropolitan Water and Sanitation Authority under the National Ganga River Basin Authority (NGRBA) for design and construction of sewerage networks and sewage treatment plant at Gayeshpur town, West Bengal.
The Renewable Energy Business has bagged a turnkey order from an esteemed developer for design and construction of a 25 megawatt wind power plant in Tamil Nadu, L&T said.
In the Buildings & Factories Business, new orders worth Rs238 crores have been secured from HLL Lifecare Limited for expansion and modernization of an old hospital and institute building at JIPMER, Puducherry, the company said.
Wipro gained 0.95% ahead of its Q2 September 2013 results today, 22 October 2013.
HDFC lost 1.53%. The company's net profit rose 10% to Rs 1266.33 crore on 12.82% growth in total income to Rs 5953.98 crore in Q2 September 2013 over Q2 September 2012. The Q2 result hit the market during trading hours on Monday, 21 October 2013.
On a consolidated basis, HDFC's net profit rose 20.08% to Rs 1891.17 crore on 14.97% growth in total income to Rs 9982.71 crore in Q2 September 2013 over Q2 September 2012.
In the foreign exchange market, the rupee hit almost one-week low against the dollar. The partially convertible rupee was hovering at 61.7650, weaker than its close of 61.52/53 on Monday, 21 October 2013.
Asian markets were trading on a cautious note as investors awaited US jobs data which will determine when the Federal Reserve would start tapering. Key benchmark indices in South Korea, Taiwan, Hong Kong, China and Indonesia fell by 0.05% to 1.2%. Key benchmark indices in Singapore and Japan rose by 0.11% to 0.44%.
Trading in US index futures indicated that the Dow could fall 4 points at the opening bell on Tuesday, 22 October 2013. US stocks finished little changed on Monday, with the S&P 500 adding a fraction to its record close and the Nasdaq Composite extending gains into a fourth session, bolstered by Netflix Inc., which released earnings just after the close.
The US government will release the influential nonfarm-payroll data for September 2013 today, 22 October 2013. The data has been delayed due to the 16-day partial shutdown of the US government this month.
The Federal Open Market Committee (FOMC) holds a two-day policy meeting on 29-30 October 2013. On 18 September 2013, the Fed surprised economists and investors with its decision to delay scaling back its stimulus amid concerns about the strength of the economic recovery.
Powered by Capital Market - Live News
