A bout of volatility was witnessed as key benchmark indices extended gains after trimming intraday gains in afternoon trade. At 13:16 IST, the barometer index, the S&P BSE Sensex, was up 24.57 points or 0.1% at 24,641.54. The 50-unit Nifty 50 index was currently up 6.85 points or 0.09% at 7,495.95. The market breadth indicating the overall health of the market was strong. On BSE, 1,477 shares rose and 954 shares fell. A total of 121 shares were unchanged. The BSE Mid-Cap index was currently up 0.91%. The BSE Small-Cap index was currently up 0.94%. Both these indices outperformed the Sensex.
The Sensex and the Nifty, both, hit their highest level in almost one week. The Sensex rose 74.92 points, or 0.3% at the day's high of 24,691.89 in mid-morning trade, its highest level since 2 February 2016. The barometer index fell 86.54 points, or 0.35% at the day's low of 24.530.43 in morning trade. The Nifty rose 21.85 points, or 0.29% at the day's high of 7,510.95 in mid-morning trade, its highest level since 2 February 2016. The index fell 25.15 points, or 0.34% at the day's low of 7,463.95 in morning trade.
In overseas stock markets, most major Asian markets remain closed for the Lunar New Year holidays. Markets in mainland China and Taiwan are closed all week. Other markets closed today include Hong Kong, South Korea, Malaysia, the Philippines, Vietnam and Singapore. In Japan, the Nikkei Stock Average ended 1.1% higher. US stocks closed sharply lower on Friday, 5 February 2016, amid a massive drop in technology stocks and as mixed US employment data raised concerns the Federal Reserve may raise rates this year.
Telecom stocks gained. Idea Cellular (up 2.51%), Bharti Airtel (up 1.45%), Reliance Communications (up 1.99%) and Tata Teleservices (Maharashtra) (up 0.45%) edged higher. Mahanagar Telephone Nigam (down 0.56%) edged lower.
Auto stocks edged higher. TVS Motor Company (up 1.8%), Ashok Leyland (up 1.32%), Eicher Motors (up 1.66%), Maruti Suzuki India (up 1.3%), Mahindra & Mahindra (up 0.55%) and Bajaj Auto (up 0.87%) gained. Hero MotoCorp (down 0.03%) and Tata Motors (down 1.7%) declined.
HCL Technologies was off 1.85% at Rs 854. The stock hit a high of Rs 868.10 and a low of Rs 853.50 so far during the day. HCL Technologies during market hours today, 8 February 2016 announced the launch of an Internet of Things (IoT) Incubation Centre in Redmond, Washington, USA, designed to leverage Microsoft Azure IoT Suite to accelerate enterprise IoT adoption.
AstraZeneca Pharma India surged 5.97% at Rs 1,232 after the company reported net profit of Rs 8.67 crore in Q3 December 2015, compared with net loss of Rs 13.41 crore in Q3 December 2014. Net sales rose 33.7% to Rs 144.56 crore in Q3 December 2015 over Q3 December 2014. The result was announced on Saturday, 6 February 2016.
Shares of Precision Camshafts were currently trading at Rs 178.75 on BSE, at a discount of 3.89% compared with its initial public offer (IPO) price of Rs 186 per share on its debut on the bourses today, 8 February 2016. The stock got listed at Rs 163.10, at a discount of 12.31% to IPO price of Rs 186. The stock hit a high of Rs 184.70 and a low of Rs 155 so far during the day. Precision Camshafts, promoted by first generation entrepreneurs Yatin Shah and Suhasini Shah, is one of the world's leading manufacturers of camshafts, a critical engine component in passenger vehicles.
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