Key benchmark indices hovered in positive terrain in morning trade. The barometer index, the S&P BSE Sensex, was currently up 48.45 points or 0.19% at 25,771.61. The market breadth indicating the overall health of the market was strong.
Interest rate sensitive realty stocks edged lower ahead of the Reserve Bank of India's (RBI) monetary policy review today, 5 August 2014. Punj Lloyd tumbled after the company reported a reverse turnaround n Q1 results. SRF jumped on strong Q1 results.
At 10:20 IST, the S&P BSE Sensex was up 48.45 points or 0.19% to 25,771.61. The index gained 105.92 points at the day's high of 25,829.08 in early trade, its highest level since 1 August 2014. The index rose 7.54 points at the day's low of 25,730.70 in early trade.
The CNX Nifty was up 11.80 points or 0.15% to 7,695.45. The index hit a high of 7,714.45 in intraday trade, its highest level since 1 August 2014. The index hit a low of 7,683.80 in intraday trade.
The market breadth indicating the overall health of the market was strong. On BSE, 1,148 shares rose and 640 shares fell. A total of 83 shares were unchanged.
The BSE Mid-Cap index was up 27.54 points or 0.3% at 9,224.35. The BSE Small-Cap index was up 52.96 points or 0.53% at 10,052.71. Both these indices outperformed the Sensex.
NTPC dropped 0.18%. The company clarified during market hours that it has no comments to offer on media reports captioned, "Adani Power to buyout Jaypee Group Bina Plant, NTPC also in a fray ".
Interest rate sensitive realty stocks edged lower ahead of the Reserve Bank of India's (RBI) monetary policy review today, 5 August 2014. Purchases of both residential and commercial property are largely driven by finance. Unitech (down 0.19%), Housing Development & Infrastructure (HDIL) (down 0.16%), Prestige Estates (down 0.66%), and DLF (down 0.7%), edged lower.
Kalpataru Power Transmission rose 3.83% after net profit rose 21% to Rs 41.90 crore on 20% growth in revenue to Rs 1063.40 crore in Q1 June 2014 over Q1 June 2013. The Q1 result was announced after market hours on Monday, 4 August 2014. Kalpataru Power Transmission (KPTL)'s EBITDA excluding other income rose 16% to Rs 106.30 crore in Q1 June 2014 over Q1 June 2013. As on 30 June 2014, the company has consolidated order book of above Rs 10600 crore.
SRF jumped 15.9% on strong Q1 results. The company's net profit surged 127% to Rs 99.47 crore on 14.3% rise in net sales to Rs 936.25 crore in Q1 June 2014 over Q1 June 2013. The Q1 result was announced after market hours on Monday, 4 August 2014. SRF said that Q1 June 2014 net profit jumped on the back of robust sales in most of its businesses and ramp up of production from newly commissioned units.
Punj Lloyd was locked at 5% lower circuit at Rs 39.65 on BSE after the company reported a reverse turnaround in Q1 results. The company reported net loss of Rs 364 crore in Q1 June 2014 as against net profit of Rs 5 crore in Q1 June 2013. The Q1 result was announced after market hours on Monday, 4 August 2014. Punj Lloyd's gross income declined 49.7% to Rs 1123 crore in Q1 June 2014 over Q1 June 2013. The company reported a loss of Rs 243 crore at EBITDA level in Q1 June 2014 as against EBITDA of Rs 241 crore in Q1 June 2013.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 60.945, compared with its close of 60.93 on Monday, 4 August 2014.
The Reserve Bank of India (RBI) announces monetary policy review today, 5 August 2014. As per market expectations, the RBI will keep policy rates unchanged.
HSBC Services PMI for India for the month of July is due today, 5 August 2014. The seasonally adjusted HSBC Services Business Activity Index edged up to a 17-month high of 54.4 in June 2014, from 50.2 in May 2014. New business flows and stronger business sentiment supported expansion in the services sector activity in June 2014.
Asian stocks dropped today, 5 August 2014, with Shanghai shares retreating from the year's highest close as a private gauge of Chinese services industries fell to a record low. Key benchmark indices in Hong Kong, Japan, Indonesia, South Korea, China and Taiwan were down by 0.08% to 1.66%. Singapore's Straits Times rose 0.21%.
A purchasing managers' index of China's non-manufacturing sector fell to 50 in July, the borderline between expansion and contraction and the lowest reading in data from HSBC Holdings Plc and Markit Economics.
Trading in US index futures indicated that the Dow could fall 15 points at the opening bell on Tuesday, 5 August 2014. US stocks staged a late-day rally Monday, 4 August 2014, helping push the indices higher for the first time in a week on a decent earnings report from Berkshire Hathaway and the announcement of a rescue package for a struggling Portuguese bank.
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