• Indian stock market daily morning report (September 22, 2015, Tuesday)

    Markets Today

    - Benchmark share indices ended flat with negative bias on Monday as gains in banks failed to offset losses in defensive shares and select index heavyweights. Further, growing uncertainty after the US Fed last week decided to maintain status quo on interest rates citing global growth concerns also dampened sentiment. Meanwhile, the near term derivative contracts for September are set to expire on Thursday, September 24.

    - The 30-share Sensex ended down 26 points at 26,193 after hitting a high/low of 26,233/25,973 and the 50-share Nifty ended down 5 points at 7,977 after touching a high/low of 7,988/7,908. However, the broader markets outperformed the benchmark indices with BSE Mid-cap index up 0.4% and the Small-cap index gained 1.4%.

    - Shares of two direct to home and cable networks operators 4.56% to 6.59% up closed on BSE on reports government mulls raising foreign direct investment cap in Direct to Home and TV cable operators to 100%.Dish TV India (up 6.59%) and Den Networks (up 4.56%) gained.

    - L&T closed 0.76% up at Rs 1,551.75 on BSE after L&T Construction won orders worth Rs 1810 crore across various business verticals in September 2015.

    - Strides Aroclab closed 4.57% up at Rs 1,198.20 on BSE after India's largest drug maker, Sun Pharma sold the central nervous system (CNS) product business of erstwhile Ranbaxy to Strides Arcolab for an amount of Rs 165 crore.

    - Among the 12 BSE sectoral indices, 8 indices closed in positive while 4 indices closed in negative. Top Gainers: BSE Power up by 1.08% and BSE Bankex by 0.80%. Top Losers: BSE FMCG down by 0.76% and BSE Oil & Gas by 0.27%.

    - Market breadth was positive at ~1.48 as investors bought large cap stocks. On provisional basis, FII's bought Rs 1.54bn worth of Indian equities while DII's bought Rs 1.04bn worth of Indian equities.

    Economic and Corporate Developments

    - Aiming to reap significant benefits from continuing reforms, Finance Minister Arun Jaitley today said all macroeconomic parameters including fiscal deficit and inflation appear positive and hoped that GDP growth would outperform 7.3% rate of last year.

    - Making it clear that states will have to finance their loss-making electricity boards, Finance Minister Arun Jaitley today said a plan has been worked out by the Power Ministry and it would now discuss the same with the respective state governments and their discoms.

    - Pitching for greater overseas investments to drive India's economic growth, Finance Minister Arun Jaitley today said domestic private sector investments have been slow and high cost of capital was also affecting several sectors.

    - He expressed confidence however that domestic companies, which were working with some "constraints" in the wake of a global demand slowdown and excess capacities they had built up, were capable of overcoming these challenges.

    Buzzing Stocks

    - Hindustan Media Ventures closed 0.88% up at Rs 217.40 on BSE after a bulk deal of 3 lakh shares was executed on the counter at Rs 219.50 per share at 10:05 IST on BSE today, 21 September 2015.

    - Rajesh Exports closed 3.34% up at Rs 419 on BSE after the company said it will market designer jewellery in the European and American markets through Valcambi.

    - Sandesh closed 1.17% down at Rs 652 on BSE in a volatile trade after the company proposed to acquire the shares of Sandesh Digital.

    - IDBI Bank closed 16.72% up at Rs 69.45 on BSE after finance minister reportedly said that the government is working out ways to give more operational freedom to state-run banks and hinted at IDBI Bank being one of the first test cases.

    - Hotel Leelaventure closed 0.47% up at Rs 21.50 on BSE after the company announced that it has entered into a business transfer agreement to sell The Leela, Goa to MetTube Sdn. Bhd., Malaysia.

    - Vivimed Labs closed 1.42% up at Rs 293 on BSE after the company received a favourable outcome for its API manufacturing facility at Spain after inspection from the US Food and Drug Administration.

    - L&T Finance Holdings closed 2.99% down at Rs 66.55 on BSE after the company's board of directors approved a preferential allotment of equity shares and warrants to Bain Capital.

    - Steel Strips Wheels closed 6.46% up at Rs 347.50 on BSE after the company said that Kalink Co., Ltd. has agreed to invest an amount equivalent to $2 million by subscribing equity shares in the company.

    - Shares of Prabhat Dairy closed at Rs 116.35 on BSE, a premium of 1.17% over the issue price of Rs 115 on its debut on the bourses today, 21 September 2015.

    - Sun Pharmaceutical Industries closed 0.59% down at Rs 899.75 on BSE after entering into a definitive agreement with Strides Arcolab to transfer erstwhile Ranbaxy Laboratories' central nervous system divisions to Strides.

    - TD Power Systems closed 6.90% up at Rs 311.20 on BSE after the company secured an order from a large multinational company in Europe to supply multiple units of 10 megawatts generators to be installed in a single power plant inside Germany

    - Tata Steel closed 0.74% down at Rs 226.85 on BSE after the company sold through off-market transaction 3.7 crore ordinary shares of Tata Motors to Tata Sons on 18 September 2015.

    - National Buildings Construction Corporation closed 1.36% up at Rs 940.15 on BSE after the company secured a project for construction of trade facilitation centre and crafts museum at Varanasi.

    - IDFC closed 4.71% up at Rs 140.05 on BSE after the RBI gave nod to the Infrastructure finance firm to use Rs 2,500 crore nondistributable reserves for provisions against bad loans, as part of an exercise to clean its book before venturing into universal banking.

    Contributed by Keynote Capitals
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