Key benchmark indices edged higher in early trade with both S&P BSE Sensex and CNX Nifty hitting record high. The BSE Sensex crossed past the psychological 28,000 level. The BSE Sensex was currently up 127.05 points or 0.46% at 28,037.11. The market breadth indicating the overall health of the market was strong with more than two gainers for every loser on BSE.
Bharat Heavy Electricals edged higher after the company said it has successfully renovated and modernized a thermal power plant unit in Bihar. Power Grid Corporation fell after weak Q2 results. Tata Steel, National Aluminium Company, and BPCL all advanced ahead of their Q2 September 2014 results today, 12 November 2014.
Asian markets were mixed today, 12 November 2014.
Meanwhile, the provisional data released by the stock exchanges after trading hours on Tuesday, 11 November 2014, showed that foreign portfolio investors (FPIs) bought shares worth a net Rs 458.04 crore on that day.
At 9:20 IST, the S&P BSE Sensex was up 127.05 points or 0.46% at 28,037.11. The index gained 141.72 points at the day's high of 28,051.78 in early trade, a record high for the index. The index rose 48.58 points at the day's low of 27,958.64 in early trade.
The CNX Nifty was up 24.25 points or 0.29% at 8,386.90. The index hit a high of 8,394.95 in intraday trade, a record high for the index. The index hit a low of 8,377.95 in intraday trade.
The BSE Mid-Cap index was up 58.12 points or 0.58% at 10,143.77. The BSE Small-Cap index was up 57.25 points or 0.51% at 11,219.20. Both these indices outperformed the Sensex.
The market breadth indicating the overall health of the market was strong with more than two gainers for every loser on BSE. On BSE, 1,022 shares gained and 422 shares fell. A total of 54 shares were unchanged.
Bharat Heavy Electricals (Bhel) rose 0.16% at Rs 245.45. The company after market hours yesterday, 11 November 2014 said that the company has achieved yet another landmark in its After-Market-Service business by successfully renovating and modernizing (R&M) Unit-2 (110 megawatt) at Muzaftarpur Thermal Power Station (TPS) Plant of Kanti Bijlee Utpadan Nigam (KBUNL - a Joint Venture of NTPC and BSPGCL) in Bihar.
Power Grid Corporation of India lost 0.85% at Rs 146.20. The company reported 3.06% fall in net profit to Rs 1201.27 crore on 4.99% growth in total income to Rs 4309.26 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 11 November 2014.
Tata Steel rose 0.27% at Rs 481 ahead of its Q2 September 2014 results today, 12 November 2014.
National Aluminium Company rose 0.85% at Rs 59.25 ahead of its Q2 September 2014 results today, 12 November 2014.
BPCL rose 0.44% at Rs 769.45 ahead of its Q2 September 2014 results today, 12 November 2014.
Data this week is likely to show growth in industrial production remaining muted in September 2014 and inflation falling further in October 2014.
Industrial production is seen rising a muted 0.4% in September 2014, matching the growth in August 2014, as per the median estimate of a poll of economists carried out by Capital Market. The government will unveil industrial production data for September 2014 at 17:30 IST today, 12 November 2014.
The rate of inflation based on the combined consumer price indices (CPI) for urban and rural India is seen easing further to 5.7% in October 2014, from 6.46% in September 2014, as per the median estimate of a poll of economists carried out by Capital Market. The government will release consumer price inflation data for October 2014 at 17:30 IST today, 12 November 2014.
The rate of inflation based on wholesale price index (WPI) is seen easing further to 2.1% in October 2014, from 2.38% in September 2014, as per the median estimate of a poll of economists carried out by Capital Market. The government will unveil WPI inflation data for October 2014 at 12:00 noon on Friday, 14 November 2014.
Asian markets were mixed today, 12 November 2014. Key indices in Japan, South Korea, and Indonesia were up 0.47% to 1.52%. Key indices in China, Hong Kong , Singapore, and Taiwan were off 0.02% to 1.08%.
In US, the Dow Jones Industrial Average and S&P 500 eked out a fifth session of record closing highs yesterday, 11 November 2014, barely extending the market's recent rally in light volume as consumer discretionary shares gained.
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