Key benchmark indices displayed mixed trend in afternoon trade. The CNX Nifty was range bound, while the S&P BSE Sensex further pared gains to hit fresh intraday low. The Sensex was up 72.70 points or 0.38%, off about 89 points from the day's high and up close to 17 points from the day's low. The market managed to hold positive terrain as global cues were strong. The market breadth, indicating the overall health of the market, was positive. V-Guard Industries, KPIT Cummins Infosystems, Just Dial, Jubilant FoodWorks and Bajaj Finance saw a surge in volumes on BSE today, 9 July 2013.
The market edged higher in early trade on firm Asian stocks. The market trimmed initial gain in morning trade. The Sensex hovered in positive terrain in mid-morning trade. The market pared intraday gains in early afternoon trade. Key benchmark indices further pared gains to hit fresh intraday low in afternoon trade.
At 13:15 IST, the S&P BSE Sensex was up 72.70 points or 0.38% to 19,397.47. The index rose 161.23 points at the day's high of 19,486 in early trade, its highest level since 5 July 2013. The index gained 55.48 points at the day's low of 19380.25 in afternoon trade.
The CNX Nifty was up 31.65 points or 0.54% to 5,843.20. The index hit a high of 5,864.95 in intraday trade, its highest level since 5 July 2013. The index hit a low of 5,834.60 in intraday trade.
The market breadth, indicating the overall health of the market, was positive. On BSE, 1,123 shares rose and 903 shares fell. A total of 122 shares were unchanged. Breadth was strong earlier in the day.
From the 30-share Sensex pack, 19 stocks rose and rest of them fell. Sun Pharmaceutical Industries (up 4.68%), Bajaj Auto (up 2.49%), NTPC (up 1.57%), Bhel (up 1.53%), HDFC Bank (up 1.31%), Larsen & Toubro (up 1.20%), Infosys (up 1.19%) and HDFC (up 0.70%), edged higher from the Sensex pack.
Coal India (down 1.27%), Jindal Steel & Power (down 1.04%), M&M (down 1.02%), Maruti Suzuki India (down 0.99%), Tata Motors (down 0.83%), Hindustan Unilever (down 0.74%) and ONGC (down 0.51%), edged lower from the Sensex pack.
V-Guard Industries clocked volume of 6.09 lakh shares, a 51.41-times surge over two-week average daily volume of 12,000 shares. The stock rose 1.44% to Rs 480.
KPIT Cummins Infosystems notched up volume of 7.17 lakh shares, a 15.64-fold surge over two-week average daily volume of 46,000 shares. The stock rose 1.06% to Rs 124.05.
Just Dial saw volume of 7.01 lakh shares, a 11.69-fold surge over two-week average daily volume of 60,000 shares. The stock surged 11.14% to Rs 755.
Jubilant FoodWorks clocked volume of 2.93 lakh shares, a 11.30-fold surge over two-week average daily volume of 26,000 shares. The stock rose 1.65% to Rs 1,140.85.
Bajaj Finance saw volume of 99,000 shares, a 7.07-fold rise over two-week average daily volume of 14,000 shares. The stock rose 0.50% to Rs 1,390.
European shares extended gains on Tuesday, tracking strength in Asia, with growing optimism about the health of the US economy and a good start to the earnings season boosting sentiment. Key benchmark indices in UK, France and Germany were up by 0.65% to 0.69%.
In Europe, Greece secured a lifeline from the euro zone and the International Monetary Fund (IMF) on Monday but was told it must keep its promises on cutting public sector jobs and selling state assets to get all the cash. The 6.8 billion euro deal, which spares Greece defaulting on debt in August, will see Athens drip fed support under close watch from the euro zone and the IMF to ensure implementation of unpopular reforms.
Data on industrial production in UK for May 2013 is due for release later in the global day today.
Asian stocks rose on Tuesday, 9 July 2013, after Alcoa Inc. started the US earnings season with results that beat analysts' estimates. Key benchmark indices in China, Hong Kong, Singapore, Japan, South Korea and Taiwan rose by 0.37% to 2.58%. Indonesia's Jakarta Composite fell 0.40%.
China's inflation accelerated more than estimated in June as food prices climbed, while the decline in factory-gate prices extended its longest streak in a decade amid slowing economic growth and lower commodity costs. The consumer price index rose 2.7% from a year earlier, the National Bureau of Statistics said today in Beijing.
Trading in US index futures indicated that the Dow could gain 62 points at the opening bell on Tuesday, 9 July 2013. US stocks advanced on Monday, 8 July 2013, heading into the start of earnings season, building on gains sparked by last week's robust employment report and pushing the S&P 500 index closer to its all-time high set in May. Alcoa Inc, the largest US aluminum producer, reported results after the market's close, which is typically seen as the start of earnings season.
The minutes of Federal Open Market Committee's (FOMC) policy meeting held on 19 June 2013, will be released tomorrow, 10 July 2013. The minutes may provide more insight into the Federal Reserve's outlook on monetary stimulus. Fed Chairman Ben Bernanke is also due to deliver a speech tomorrow, 10 July 2013. Bernanke on 19 June 2013 said that the central bank may taper the pace of its bond purchases, currently set at $85 billion a month, as early as this year if the economy continues to improve in line with its forecasts.
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