New York: 07:33 || London: 12:33 || Mumbai: 16:03 || Singapore: 18:33

Reports India

Indian stock market daily morning report (August 11, 2014, Monday)

August 11, 2014, Monday, 10:04 GMT | 05:04 EST | 13:34 IST | 16:04 SGT
Contributed by Keynote Capitals


Views on markets today

- Markets extended losses for the third straight session on Friday as investors sold stocks across sectors amid escalating geopolitical tensions in Ukraine and Iraq.

The 30-share Sensex slipped 259.87 or 1.02% to end at 25,329.14, hitting a 2-week low. The Sensex had ended at 25,991 on July 28. The 50-share Nifty dipped 80.70 points or 1.06% to close at 7,568.55.

The broader markets underperformed benchmark share indices as the BSE Mid-cap and Small-cap tumbled over 2%.

- Oracle Financial Services Software closed 1.62% up at Rs 3426.40 on BSE after consolidated net profit rose 27% to Rs 394 crore on 20% growth in revenue to Rs 1073 crore in Q1 June 2014 over Q4 March 2014.

- State Bank of India closed 0.92% down at Rs 2,415.25 on BSE, after net profit rose 3.33% to Rs 3349.0- crore on 12.56% growth in total income to Rs 40739.21 crore in Q1 June 2014 over Q1 June 2013.

- Bombay Dyeing & Manufacturing Company closed 7.86% down at Rs 66.85 on BSE after the company reported a net loss of Rs 53.63 crore in Q1 June 2014, higher than net loss of Rs 27.57 crore in Q1 June 2013.

- Nestle India fell 2.16%, in the morning trade, to Rs 5,290 on BSE after net profit rose 6.07% to Rs 287.86 crore on 9.69% rise in total income to Rs 2455.09 crore in Q2 June 2014 over Q2 June 2013.

- Three PSU OMCs declined 1.76% to 3.14%, in the intraday trade, on BSE as crude oil prices advanced amid escalating geopolitical tensions.

HPCL (down 3.14% at Rs 404.70), BPCL (down 2.87% at Rs 568.15), and Indian Oil Corporation (down 1.76% at Rs 332.60) edged lower.

- Among the 12 BSE Sectoral Indices 2 Indices closed in positive while 10 Indices ended the day in negative. Top Gainers: BSE FMCG up by 0.09% and BSE Healthcare by 0.05%. Top Losers: BSE Realty down by 3.86% and BSE Metal by 3.15%.

Market breadth was negative at ~0.75 as investors sold large cap stocks. On provisional basis, FII's sold Rs 8.73bn worth of Indian equities while DII's bought Rs 4.56bn worth of equities.


Economic and Corporate Developments

Car sales are expected to grow between 5% and 10% this fiscal year, Vishnu Mathur, director general of the Society of Indian Automobile Manufacturers (SIAM), said on Friday.

Domestic car sales in July rose an annual 5% to 1,37,873 units in July this year as compared to 1,31,257 units in the same month of 2013, SIAM data showed.


Buzzing Stocks

- Puravankara Projects closed 15.19% down at Rs 82.10 on BSE, with the stock extending Thursday's steep 8.67% slide triggered by the company reporting poor Q1 results.

- M M Forgings closed 13.61% to Rs 322.55 on BSE, with the stock extending recent rally.

- Hikal closed 6.51% down at Rs 574.55 on BSE after net profit declined 84.4% to Rs 5.70 crore on 4.3% growth in net sales to Rs 190.39 crore in Q1 June 2014 over Q1 June 2013.

- Vardhman Textiles closed 8.98% down at Rs 441.55 on BSE after net profit declined 26.45% to Rs 106.27 crore on 19.15% growth in total income from operations to Rs 1,445.07 crore in Q1 June, 2014 over Q1 June, 2013.

- Bharti Infratel closed 2.25% up at Rs 258.75 on BSE, after the company's promoter Bharti Airtel pared stake through an offer for sale to comply with minimum public holding rules of market regulator.

- Titagarh Wagons closed 4.99% down at Rs 223.70 on BSE after net profit fell 47.3% to Rs 2.15 crore on 25.4% decline in net sales to Rs 70.16 crore in Q1 June 2014 over Q1 June 2013.

- Hindalco Industries closed 2.75% down at Rs 184.05 on BSE, after the company's US subsidiary Novelis reported Q1 June 2014 operating profit that lagged some estimates.

- Gujarat State Petronet declined 1.76%, in the opening trade, to Rs 83.90 on BSE, after net profit declined 32.7% to Rs 85 crore on 22.2% decline in net sales to Rs 230.44 crore in Q1 June 2014 over Q1 June 2013.

- Mahindra & Mahindra closed 1.42% down at Rs 1229.10 on BSE after the combined net profit of the company and its 100% subsidiary Mahindra Vehicle Manufacturers rose 4.3% to Rs 896.40 crore in Q1 June 2014 over Q1 June 2013.

- Corporation Bank closed 5.07% down at Rs 334.35 on BSE after net profit declined 38.76% to Rs 231.46 crore on 7.46% growth in total income to Rs 5215.02 crore in Q1 June 2014 over Q1 June 2013.

- Lakshmi Electrical Control Systems closed 5.20% up at Rs 417.80 on BSE after net profit jumped 252.77% to Rs 2.54 crore on 46.06% rise in total income from operations (net) to Rs 44.87 crore in Q1 June 2014 over Q1 June 2013.