Firmness continued on the bourses in afternoon trade. The barometer index, the S&P BSE Sensex, was up 293.31 points or 1.17%, up 213.68 points from the day's low and off 13.75 points from the day's high. The market breadth indicating the overall health of the market was strong, with more than two gainers for every loser on BSE. The BSE Mid-Cap index was up 1.62% at 9,354.44. The BSE Small-Cap index was up 1.54%. Both these indices outperformed the Sensex. A decline in crude oil prices boosted market sentiment. Today being the last day of the quarter, there was a buzz of buying by mutual funds for window dressing.
Auto major Bajaj Auto scaled record high. Among FMCG stocks, Britannia Industries scaled record high. Capital goods stocks edged higher, with shares of ABB India and Alstom T&D India hitting 52-week high. Power generation stocks edged higher with shares of CESC hitting 52-week high. Shares of Jaypee group companies were in demand on renewed buying. Shares of infrastructure finance firm IDFC, which has received an in-principle approval from the Reserve Bank of India for a banking license surged.
At 13:15 IST, the S&P BSE Sensex was up 293.31 points or 1.17% to 25,393.23. The index jumped 307.06 points at the day's high of 25,406.98 in early afternoon trade, its highest level since 25 June 2014. The index rose 79.63 points at the day's low of 25,179.55 in opening trade.
The CNX Nifty was up 92.35 points or 1.23% to 7,601.15. The index hit a high of 7,605.95 in intraday trade, its highest level since 19 June 2014. The index hit a low of 7,531.60 in intraday trade.
The market breadth indicating the overall health of the market was strong, with more than two gainers for every loser on BSE. On BSE, 1,920 shares gained and 847 shares fell. A total of 119 shares were unchanged.
The BSE Mid-Cap index was up 149.27 points or 1.62% at 9,354.44. The BSE Small-Cap index was up 154.24 points or 1.54% at 10,176.53. Both these indices outperformed the Sensex.
The total turnover on BSE amounted to Rs 2080 crore by 13:15 IST.
Among the 30-share Sensex pack, 26 stocks gained and only four of them declined.
ICICI Bank (up 3.1%), Sun Pharmaceutical Industries (up 2.53%) and State Bank of India (up 2.25%) edged higher from the Sensex pack.
Bajaj Auto rose 0.28% to Rs 2,315 after scaling record high of Rs 2,329 in intraday trade.
Shares of infrastructure finance firm IDFC, which has received an in-principle approval from the Reserve Bank of India for a banking license surged. The stock was up 4.41% at Rs 133.80. The stock hit a high of Rs 134.40 and low of Rs 129 so far during the day.
Capital goods stocks edged higher on renewed buying. Bharat Heavy Electricals (Bhel) (up 2.29%), Bharat Electronics (up 4.57%), Crompton Greaves (up 1.61%), L&T (up 2.55%) Siemens (up 2.16%) and Thermax (up 0.72%) gained.
ABB India gained 1.35% to Rs 1,115.15 after hitting 52-week high of Rs 1,125 in intraday trade.
Alstom T&D India gained 2.21% to Rs 529.75 after hitting 52-week high of Rs 537 in intraday trade.
Havells India shed 0.16% to Rs 1,174. The company said during market hours that its board of directors at its meeting held today, 30 June 2014, approved a 5-for-1 stock split. The face value of each share will become Re 1 from current Rs 5.
Power generation stocks edged higher. Reliance Infrastructure (up 4.93%), Tata Power Company (up 3.42%), NTPC (up 1.28%), Reliance Power (up 2.43%), Adani Power (up 2.65%) and JSW Energy (up 5.96%) edged higher.
CESC jumped 7.8% to Rs 700.85 after hitting 52-week high of Rs 703.30 in intraday trade.
Britannia Industries advanced 4.01% to Rs 1,017.45 after scaling record high of Rs 1,021 in intraday trade.
Shares of Jaypee group companies were in demand on renewed buying. Jaiprakash Associates (up 3.67%), Jaiprakash Power Ventures (up 6.35%) and Jaypee Infratech (up 4.48%) surged.
The Sensex moved higher in early trade tracking gains in Asian stocks. Key benchmark indices extended initial gains and hit fresh intraday high in morning trade. Firmness continued on the bourses in mid-morning trade. Key benchmark indices remained firm after hitting fresh intraday high in early afternoon trade. The 50-unit CNX Nifty hit 1-1/2-week high. Firmness prevailed on the bourses in afternoon trade.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 60.0675, compared with its close of 60.085/095 on Friday, 27 June 2014.
Oil prices edged lower adding to last week's fall as supply disruption fears from Iraq eased as government forces launched a pushback against a Sunni militant takeover of large areas of the country. Brent crude oil futures for August delivery were off 43 cents at $112.87 a barrel.
As crude prices dropped, concerns arising from the impact of high crude oil prices on India's macroeconomic situation eased. India imports about 80% of its crude oil requirements.
European stocks advanced on Monday, 30 June 2014, as investors awaited data on US home sales later in the global day. Key benchmark indices in UK, France and Germany were up 0.23% to 0.67%.
Asian stocks edged higher on Monday, 30 June 2014 ahead of packed week of economic data that will test investor hopes for a pick up in the US and global economy. Key benchmark indices in Japan, Indonesia, China, South Korea and Taiwan were up 0.4% to 0.93%. Key benchmark indices in Singapore and Hong Kong fell by 0.43% to 0.67%.
Trading in US index futures indicated that the Dow could rise 11 points at the opening bell on Monday, 30 June 2014. US stocks ended modestly higher on Friday, 27 June 2014, led by technology shares, though downbeat second-quarter and full-year forecasts from DuPont Co kept a lid on gains.
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