Key indices were higher volatile in morning trade. The S&P BSE Sensex regained positive terrain after briefly slipping into the red while the 50-unit CNX Nifty was currently just below the neutral line. The barometer index, the S&P BSE Sensex was currently up 31.03 points or 0.11% at 29,411.76. The market breadth indicating the overall health of the market was positive.
Public sector oil marketing companies (PSU OMCs) advanced after the Ministry of Petroleum & Natural Gas after trading hours yesterday, 4 March 2015, said that 81% active LPG consumers (11.74 crore) have joined the Direct Benefit Transfer for LPG (DBTL) scheme called PAHAL as on 2 March 2015. Asian Paints dropped amid volatility after the company said that its indirect subsidiary Berger International, Singapore (BIL), completed the acquisition of 51% stake in Kadisco Paint and Adhesive Industry Share Company, Ethiopia (Kadisco).
Foreign portfolio investors (FPIs) bought shares worth a net Rs 2786.24 crore yesterday, 4 March 2015, as per provisional data. Domestic institutional investors (DIIs) bought shares worth a net Rs 16.89 crore yesterday, 4 March 2015, as per provisional data.
In the foreign exchange market, the rupee edged lower against the dollar.
Brent crude oil futures edged higher after previous trading session's decline.
In overseas markets, Asian stock markets edged lower today, 5 March 2015, following a weak lead from Wall Street, and as China lowered its gross domestic product (GDP) growth target to 7% for 2015, down from 7.5% last year.
At 10:15 IST, the S&P BSE Sensex was up 31.03 points or 0.11% at 29,411.76. The index gained 115.87 points at the day's high of 29,496.60 in early trade. The index fell 62.70 points at the day's low of 29,318.03 in early trade.
The CNX Nifty was off 1.10 points or 0.01% at 8,921.55. The index hit a high of 8,949.05 in intraday trade. The index hit a low of 8,891.15 in intraday trade.
The BSE Mid-Cap index was up 42.71 points or 0.39% at 11,006.98. The BSE Small-Cap index was up 44.86 points or 0.39% at 11,426.51. Both these indices outperformed the Sensex.
The market breadth indicating the overall health of the market was positive. On BSE, 953 shares gained and 905 shares fell. A total of 69 shares were unchanged.
Shares of PSU OMCs advanced. BPCL (up 0.34%), HPCL (up 1.12%), and Indian Oil Corporation (up 0.09%) edged higher. GAIL India (down 1.85%) edged lower. The Ministry of Petroleum & Natural Gas after trading hours yesterday, 4 March 2015, said that 81% active LPG consumers (11.74 crore) have joined the Direct Benefit Transfer for LPG (DBTL) scheme called PAHAL as on 2 March 2015. In a short period, the enrollment has achieved a satisfactory level of penetration of over 80%, the oil ministry said. PAHAL will save subsidy by reducing the incentive to divert subsidized cylinders and also provides an easy exit route for those who do not want to avail subsidy on domestic gas cylinders, the oil ministry said. The scheme is aimed at transferring the subsidy benefit directly to the beneficiary and curb diversion/black marketing of LPG cylinders.
TCS fell 0.12% at Rs 2,740. The stock hit a high of Rs 2,768.15 and a low of Rs 2,725 so far during the day. TCS after market hours yesterday, 4 March 2015, announced the release of a new platform for next generation underwriting for the digital era. TCS said its Underwriting Workbench solution is a multi-faceted platform that combines dynamic case management, intelligent workflow, and decision support systems with robust geospatial functions such as mapping and visualization capabilities to form a solution that augments the efficiency and effectiveness of the entire underwriting process. The solution automates the ability to capture, analyze and make use of data in order to determine risk exposure and risk aggregation, TCS said.
Asian Paints fell 0.41% at Rs 833.65. The stock hit a high of Rs 841 and a low of Rs 828.55 so far during the day. Asian Paints after market hours yesterday, 4 March 2015, said that Berger International, Singapore (BIL), indirect subsidiary of the company, had completed the acquisition of 51% stake in Kadisco Paint and Adhesive Industry Share Company, Ethiopia (Kadisco). Asian Paints said that the Ethiopian Investment Agency, Ethiopia (ElA) has granted capital registration to Kadisco with respect to the investment made by BIL for the acquisition.
Kadisco is one of the leading paint companies in Ethiopia, incorporated in the year 1979, and is engaged in the manufacturing & selling of decorative paints, industrial paints, automotive paints, other coatings and adhesives in Ethiopia.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 62.2725, compared with its close of 62.26 during the previous trading session.
Brent crude oil futures edged higher after previous trading session's decline. Brent for April settlement was up 19 cents at $60.74 a barrel. The contract had declined 47 cents or 0.77% to settle at $60.55 a barrel during the previous trading session.
Asian stock markets edged lower today, 5 March 2015, following a weak lead from Wall Street, and as China lowered its gross domestic product (GDP) growth target to 7% for 2015, down from 7.5% last year. Key indices in China, Japan, Hong Kong, Taiwan, and Singapore were off 0.01% to 1%. Key indices in South Korea and Indonesia were up 0.04% to 0.48%.
Trading in US index futures indicated that the Dow could gain 13 points at the opening bell today, 5 March 2015. US stocks closed lower yesterday, 4 March 2015 amid a series of economic data that continued to show moderate growth ahead of today's key jobs report. The US government is scheduled to announce US nonfarm payroll data for February 2015 tomorrow, 6 March 2015.
Most Federal Reserve districts reported a expanding economy and a prevailing sense of optimism, Fed's Beige Book survey showed yesterday, 4 March 2015. Jobs gained across a variety of sectors, though wage pressures were muted, according to the March summary of economic forecasts the Fed compiled in its Beige Book of indicators.
In Europe, a monthly monetary policy review from the European Central Bank is scheduled today, 5 March 2015.
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