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Reports India

Indian stock market daily morning report (December 04, 2013, Wednesday)

December 4, 2013, Wednesday, 05:58 GMT | 00:58 EST | 10:28 IST | 12:58 SGT
Contributed by Keynote Capitals

Views on markets today

- Markets ended marginally lower as investors booked profits at higher levels after gains in the previous three sessions.

The 30-share Sensex ended down 43 points at 20,854 and the 50-share Nifty slipped 16 points to 6,201.

Among the 13 Sectoral Indices 6 indices closed in positive while 7 indices ended in negative. Top Gainers: BSE Realty up by 1.24%, BSE Oil & Gas by 0.51% and BSE Metal by 0.24%. Top Loser: BSE FMCG down by 0.83% and BSE Consumer Durables by 0.58%.

Market breadth was flat at ~1.01 as investors traded on both sides of the large cap stocks. On provisional basis, FII's bought Rs 5.16bn worth of Indian equities and DII's sold Rs 6.71bn worth of equities.

Economic and Corporate Developments

- Recent data released by Central Statistical Organization indicates that export growth (net of imports) accounted for 70% of the incremental growth in GDP during the second quarter.

Exports of goods and services at 2004-05 prices were up 16.3% on year-on-year basis during the second quarter, growing at its fastest pace in eight quarters.

Imports on the other hand were flat growing by 0.4% in the second quarter, expanding at its lowest pace in 14 quarters.

Foreign Direct Investment into the country declined by about 38%, year-on-year, to $2.91 billion in September, according to the Department of Industrial Policy and Promotion. In September 2012, the country had attracted foreign investment worth $4.67 billion.

During the April-September period of 2013-14 fiscal, FDI has thus dipped by 11% to $11.37 billion, from $12.84 billion in the first half of 2012-13, DIPP said.

Decline in FDI in sectors like services, telecom and metallurgical industries have lowered the inflows.

Buzzing Stocks

- Force Motors was locked at 20% upper circuit at Rs 391 on BSE after the company announced data on production, sales and exports for November 2013.

- Sun TV Network closed 5.05% up at Rs 385.75 on BSE after two block deals aggregating 13.90 lakh shares were executed in the counter on BSE in the intraday trade.

- Maruti Suzuki India closed 0.14% up at Rs 1,663.70 on BSE on hopes imports of parts would be less costly after the Japanese yen hit a six-month low against the dollar.

- IRB Infrastructure Developers closed 3.09% down at Rs 94.20 on BSE on profit booking after the stock rose 8% in the preceding four trading sessions to Rs 97.20 on 2nd December 2013, from a recent low of Rs 90 on 26 November 2013.

- GAIL (India) closed 2.97% up at Rs 343.35 on BSE after the company said it is in talks to buy a stake in the Tanzanian assets of British oil explorer Ophir Energy Plc.

- Indiabulls Securities closed 2.12% down at Rs 20.75 on BSE, with the stock sliding on profit booking after the firm said its board has allotted 5.82 crore warrants convertible into equivalent number of equity shares to promoter group entities.

- Eicher Motors closed 2.71% up at Rs 5,141.70 on BSE, extending recent gains triggered by a foreign brokerage upgrading the stock to buy from underperform.

- Steel Strips Wheels closed 0.65% down at Rs 144.85 on BSE after the company said its total wheel rim sales rose 12% to 8.69 lakh units in November 2013 over November 2012.

- Larsen & Toubro closed 1.10% down at Rs 1,054.80 on BSE after the company said L&T Construction won new orders worth Rs 1,471 crore across various business segments in November and December 2013.

- Alstom T&D India closed 0.96% down at Rs 181.40 on BSE after the company said it has secured an order worth approximately Rs 79 crore from Power Grid Corporation of India.

- Ashok Leyland closed 0.60% down at Rs 16.60 on BSE after the company said its total sales fell 27% to 5,375 units in November 2013 over November 2012.

Bajaj Auto closed 0.55% to Rs 1,954 on BSE after the company said its total sales declined 17% to 3.10 lakh units in November 2013 over November 2012.

- Hero MotoCorp closed 0.72% down at Rs 2,048.15 on BSE after the company said its total sales rose 9% to a record 12 lakh units in October-November this year over the corresponding period in the previous year.

- Wipro closed 0.15% up at Rs 482.20 on BSE after the firm said it has signed a definitive agreement to acquire Opus CMC, a leading US-based provider of mortgage due diligence & risk management services for purchase consideration of $75 million.