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Reports India

Indian stock market daily morning report (August 25, 2014, Monday)

August 25, 2014, Monday, 06:28 GMT | 01:28 EST | 10:58 IST | 13:28 SGT
Contributed by Keynote Capitals

Views on markets today

- Markets ended higher on Friday led by IT exporters after upbeat US economic data indicated signs of an uptick in the world's largest economy. Further, the benchmark Nifty, ended above 7,900 for the first time after hitting a fresh record high of 7,929.05 for the fourth time this week.

The BSE Sensex gained 0.23% or 59.44 points to end at 26,419.55 while the CNX Nifty ended 0.28% or 22.10 points higher at record closing high of 7,913.20

Shares of six NBFCs rose by 0.06% to 1.62%, in the intraday trade, on BSE after the central bank tightened norms related to lending against shares.

Reliance Capital (up 1.62%), Muthoot Capital Services (up 0.97%), Bajaj Finance (up 0.53%), Religare Enterprises (up 0.34%), Mahindra & Mahindra Financial (up 0.13%) and Bajaj Finserv (up 0.06%), edged higher.

Fourteen sugar shares rose by 0.75% to 6.38%, in the days trade, on BSE after the government raised import duty on sugar to 25% from 15%.

Dwarikesh Sugar Industries (up 6.38%), Oudh Sugar Mills (up 6.18%), Simbhaoli Sugars (up 4.84%), Rana Sugars (up 4.79%), Sakthi Sugars (up 4.77%), Shree Renuka Sugars (up 4.44%), Bajaj Hindusthan (up 3.99%), KCP Sugar & Industries Corporation (up 3.51%), Balrampur Chini Mills (up 3.09%), Triveni Engineering & Industries (up 3.05%), Dhampur Sugar Mills (up 2.93%), EID Parry (India) (up 1.95%), DCM Shriram Industries (up 1.74%) and Upper Ganges Sugar (up 0.75%), edged higher.

HCL Technologies rose 1.27% to Rs 1573.60 on BSE after a foreign brokerage maintained a buy rating on the stock.

- United Spirits fell 2.38% to Rs 2,345 on BSE after the National Stock Exchange excluded the stock from its equity derivatives segment.

- Sanghi Industries was locked at 5% upper circuit at Rs 33.95 on BSE after the company reported net profit of Rs 35.46 crore in Q4 June 2014 as against net loss of Rs 35.74 crore in Q4 June 2013.

- Among the 12 BSE Sectoral Indices 7 Indices closed in positive while 5 Indices ended the day in negative. Top Gainers: BSE IT up by 1.63% and BSE Bankex by 1.03%. Top Losers: BSE Realty down by 0.82% and BSE FMCG by 0.51%.

Market breadth was negative at ~0.93 as investors sold large cap stocks. On provisional basis, FII's bought Rs 3.02bn worth of Indian equities while DII's sold Rs 1.83bn worth of equities.

Buzzing Stocks

- Claris Lifesciences rose 2.15% to Rs 185.50 on BSE, with the stock extending Thursday's 3.56% gains triggered by the company receiving MHRA nod for its newly commissioned plant.

- L&T rose 0.55% to Rs 1540.30 on BSE after the company said its Water & Renewable Energy Business of L&T Construction secured new orders worth Rs 1283 crore in July and August 2014.

- Arvind rose 2.20% to Rs 258.30 on BSE after the company said its subsidiary, Arvind Lifestyle Brands, has entered into an agreement with Gap Inc., to open Gap stores in India.

- SpiceJet rose 1.99% to Rs 14.85 on BSE after the company said its board approved allotting warrants to the promoters on preferential basis.

- KNR Constructions was locked at 5% upper circuit at Rs 227.60 on BSE after the company said it has bagged orders worth Rs 68.37 crore from the Government of Karnataka.

- Ranbaxy Laboratories fell 1.42% to Rs 632 on BSE on reports the company may have to pay Rs 242 crore fine imposed by the State of Texas.

- ONGC rose 1.75% to Rs 433.45 on BSE after a foreign brokerage has maintained buy on the stock stating that the company is a reform play and had maximum potential to gain.

- Canara Bank rose 2.55% to Rs 398.10 on BSE on reports that the bank is planning to sell Rs 900 crore of sticky loans to asset reconstruction companies this quarter in an effort to clean balance sheet.

- Cyient lost 1.84% to Rs 415 on BSE after the company said it has signed a definitive agreement to acquire a majority stake in Invati Insights, a start-up data sciences company.

- Sobha fell 4.50% to Rs 476 on BSE on profit booking after the stock jumped 23.47% in the preceding seven trading sessions to Rs 498.45 on 21 August 2014, from a recent low of Rs 403.70 on 11 August 2014.

- Hotel Leelaventure jumped 7.42% to Rs 25.35 on BSE after the company issued a clarification with regard to a media news item.

- Bharat Gears fell 5.76% to Rs 67.90 on BSE on profit booking after the stock jumped 26.29% in the preceding five trading sessions to Rs 72.05 on 21 August 2014, from a recent low of Rs 57.05 on 13 August 2014.

- Karnataka Bank rose 2.04% to Rs 130 on BSE after the bank said it has entered into an MoU with National Bulk Handling Corporation for extending storage facilities to farmers and finance against the warehouse receipts.

- Singer India fell 6.35% to Rs 143.75 on BSE on profit booking after the stock surged 61.41% in the preceding five trading sessions to Rs 153.50 on 21 August 2014, from a recent low of Rs 95.10 on 13 August 2014.

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