Evening Stock Market News 11 Feb 2014

Markets ended flat with a positive bias, amid a range bound trade on Monday, as investors remained cautious ahead of key economic data due for release tomorrow.The 30- share Sensex ended up 29 points at 20,363after hitting a high of 20,443 and the 50-share Nifty ended up nine points at 6,063 after touching an intra-day high of 6,082.On Wednesday, February 12, the government will release inflation based on the consumer price index for January and the industrial production for December.Further, the interim railway budget will be presented by Railway Minister Mallikarjun Kharge.In the broader markets, the midcap index gained 0.3% and the smalclap index added 0.1%, almost in line with the BSE benchmark index. The market breadth was negative on the BSE. 1,369 stocks declined while 1,266 stocks advanced.

On the sectoral front, Power index down over 1% was the top index loser.  Also, Realty, Oil & Gas, Capital Goods, Health Care and FMCG indices closed in the negative territory, down 0.1-0.8%.
Among the ones in the green were IT, Teck, Auto, Consumer Durables, Metal and Bankex indices which added 0.3-0.8%.Shares of information technology (IT) companies gained after software industry lobby the National Association of Software and Services Companies (Nasscom) said that IT exports to grow by 13-5% in the fiscal year 2014-15. TCS, Infosys, Tech Mahindra and HCL Tech were up 0.6-4%.Tata Motors up nearly 3% was the top gainer among Sensex-30 after reporting a better than expected almost three-fold jump in consolidated net profit at Rs 4,805 crore for the quarter ended December 2013, on back of strong demand, growth in volumes and favourable product mix and geographic mix at Jaguar Land Rover.Tata Steel, ONGC, Tata Power, Sesa Sterlite and Baja Auto up 0.4-2% were the notable gainers.From the financial space, HDFC, ICICI Bank, Axis Bank, HDFC Bank and SBI up 0.2-1% were the prominent gainers.NTPC, Hindalco, Hero MotoCorp and Reliance Industries down 2% each were the top losers.Reliance Industries dipped after Delhi Chief Minister Arvind Kejriwal alleged that Reliance Industries is charging double for gas from the KG-D6 gas block. Kejriwal alleged that Reliance Industries’ rates for gas price are not based on cost of production and that the company has created an artificial shortage of fuel in the country, added report.Maruti Suzuki, Dr Reddys Lab, Gail India, Bharti Airtel, BHEL and Sun Pharma down 0.5-1% were the notable losers.

Click Here For 2 Days Free Trial


Leave a Reply