How To Research Indian stock market daily morning News

8170080-stock-market-abstract-backgroundViews on markets today

  • Markets ended marginally higher, amid a volatile trading session on Monday, led by IT majors amid a weakening rupee. However, profit booking was seen at higher levels as higher-than-expected headline inflation in September continued to weigh on market sentiment.

 

  • The 30-share Sensex ended up 79 points at 20,60- and the 50-share Nifty gained 17 points to close at 6,113.

 

  • Gains in shares of software exporters such as Infosys, Wipro and TCS, up 1.5-4.3% each, contributed the most to the Sensex. Reliance Industries ended up 0.8% ahead of its Jul-Sep results on 14th October, 2013. Other Sensex gainers include, Tata Motors, HDFC Bank, Dr Reddy’s Labs and Hero MotoCorp.

 

  • Among other shares, Shares of mid-and-small sized banks such has Karnataka Bank, Lakshmi Vilas Bank, South Indian Bank, Dhanlaxmi Bank, Development Credit Bank and Karur Vysya Bank gained sharply today after the RBI governor said that foreign banks to enter India and also be allowed to takeover domestic banks.

 

  • Among the 13 BSE Sectoral Indices, 7 sectors ended the day in positive while 6 sectors ended in negative. Top Gainers: BSE IT up by 2.32%, BSE Teck by 1.82% and BSE Bankex 0.55%. Top Losers: BSE Metal down by 0.64%, BSE FMCG by 0.57% and BSE Capital Goods by 0.42%.

 

  • Market breadth was positive at ~1. 14 as investors bought large cap stocks. On provisional basis, FII’s bought Rs 10.10bn worth of Indian equities and DII’s sold Rs 5.44bn worth of equities.

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Economic and Corporate Developments

  • India’s wholesale inflation remained high at above six% levels in September because of rising vegetable prices, especially onion, according to data released by the commerce ministry on Monday. Wholesale price index- (WPI) based inflation stood at a seven-month high of 6.46% in September, compared to 6.1% in the previous month.

 

  • Indian primary market has continued to remain dull in the first half of the current financial year. The overall mobilisation through initial public offerings (IPOs) in the H1FY14 stood at a mere Rs 1,050 crore. Though compared with the same period last year, it is higher by around Rs 280 crore. But when compared with the same period since 2007-0- to 2011-12, primary markets are quite dismal.

 

  • Further, 16 IPOs hit the market during April-September. Of which, 15 came from the stable of SME sector. Just Dial, which raised Rs 919 crore, was the only non-SME issue which makes up 87% of the total fund raised via IPO route.

 

Buzzing Stocks

  1. TTK Prestige closed down 2.47% to Rs 3,395.10 on BSE after the company reported flat net profit growth in Q2 September 2013 over Q2 September 2012.
  2. Wockhardt hit a lower circuit limit of 5% at Rs 499.30 on BSE after the UK drug regulator withdrew its quality certification to the company’s Chikalthana factory in Maharashtra.
  3. Tech Mahindra closed up 0.57% to Rs 1,557.40 on BSE after the central bank enhanced the limit for foreign institutional investors to purchase shares in the company up to 45% of the paid up capital of the company.
  4. MindTree closed up 4.70% to Rs 1377.65 after FIIs increased stake to 45.18% in September quarter compared with 39.44% holding at the end of June quarter
  5. Repro India closed down 6.26% to Rs 161.05 on BSE on profit booking after surging 43.11% in prior three trading days.
  6. Adani Ports and Special Economic Zone closed up 0.17% to Rs 150.50 on BSE after two bulk deals were executed on the counter on BSE today, 14 October 2013.
  7. Suzlon Energy closed up 5.31% to Rs 7.34 on BSE after the company said it won a new contract in Uruguay.
  8. Ashok Leyland closed down 0.29% to Rs 17.30 on BSE after a block deal of 87.85 lakh shares was executed on the counter at Rs 17.20 per share on BSE today, 14 October 2013.
  9. Dishman Pharmaceuticals and Chemicals closed down 4.22% to Rs 58.95 on BSE after the company said the income tax department surveyed the company’s premises for taxation issues.
  10. Pratibha Industries closed up 9.86% to Rs 23.40 on BSE, after the company secured two contracts aggregating to Rs 516.17 crore from PHED, Rajasthan.

 

  1. Infosys closed up 1.52% to Rs 3,323.50 on BSE, extending Friday’s 4.79% rise triggered by the company raising its revenue growth guidance for the year ending 31 March 2014.
  2. IndusInd Bank closed down 0.14% to Rs 427.35 on BSE after net profit rose 31.96% to Rs 330.23 crore on 18.89% increase in total income to Rs 2435.30 crore in Q2 September 2013 over Q2 September 2012. The stock touched an intraday high of Rs 439.95, but closed down on profit booking in the second half of the trading session.
  3. Tata Motors closed up 1.48% to Rs 390.85 on BSE, with the stock extending recent gains triggered by Jaguar Land Rover reporting strong retail sales in September 2013.
  4. TCS closed up 4.27% to Rs 2,214.65 on BSE ahead of the company’s Q2 September 2013 result announcement tomorrow, 15 October 2013.

 

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