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Indian stock market daily morning report (December 23, 2013, Monday)
Views on markets today
- Benchmark indices ended sharply higher with Sensex closing above 21,000 mark and the Nifty nearing the 6,300 mark led by buying in heavyweight sectors like oil & gas, banks and technology.
The market sentiment was also cheered by data showing that FIIs made substantial purchases of Indian stocks on Thursday. Foreign institutional investors (FIIs) bought shares worth a net Rs 2,264.11 crore on Thursday, as per provisional data from the stock exchanges.
- Ten realty stocks were up 0.6% to 20% on BSE after State Bank of India and HDFC on Thursday, 19 December 2013, cut home loan rates.
Anant Raj was locked at 20% upper circuit at Rs 65.30, HDIL (up 5.93% at Rs 50.90), Peninsula Land (up 4.55% at Rs 40.20), Indiabulls Real Estate (up 3.21% at Rs 67.45), Phoenix Mills (up 3.02% at Rs 227), DLF (up 2.74% at Rs 163), Unitech (up 2.68% at Rs 15.30), Oberoi Realty (up 1.79% at Rs 225), Sobha Developers (up 0.83% at Rs 305) and Godrej Properties (up 0.6% at Rs 166.50) edged higher.
- Shares of three oil and gas majors rose by 3.13% and 4.62% on BSE on reports that the government has allowed Reliance Industries to charge higher prices for gas from April 2014.
Private sector oil and gas explorer Cairn India rose 3.13% to Rs 327.85. State-run oil explorer ONGC rose 4.08% to Rs 284.75.
- Among the 12 BSE Sectoral Indices 11 sectors closed in positive while 1 sector ended the day in negative. Top Gainers: BSE Oil & Gas up by 3.83%, BSE Realty by 2.76%, BSE Auto by 2.02%. Top Losers: BSE Consumer Durables down by 1.45%.
Market breadth was positive at ~1.53 as investors bought large cap stocks. On provisional basis, FII's bought Rs 9.90bn worth of Indian equities and DII's sold Rs 2.48bn worth of equities.
Economic and Corporate Developments
- India's steel production declined by 2.4% in November due to stagnant consumption amid subdued economic growth and poor off-take from end-use sectors such as construction and white goods.
India, the world's fourth largest steel maker, produced 6.250 million tonnes (MT) steel in November this year against 6.403 MT in the same month last year, World Steel Association (WSA) said in a report.
- Wockhardt rose 3.54% to Rs 432, in the morning trade, on BSE, with the stock extending Thursday's 9.6% rally triggered by the company's announcement of listing its Swiss arm on the Berne Stock Exchange in Switzerland on Thursday, 19 December 2013.
- IDFC closed 0.91% up at Rs 104.85 on BSE after the company said it is not eligible to obtain a bank licence as foreign shareholding in the institution exceeds the permissible limit of 50%.
- Shree Ganesh Jewellery House (I) was locked at 5% upper circuit at Rs 24.40 on BSE after the company said it has approached the State Bank of India for corporate debt restructuring of its debts.
- Reliance Industries closed 4.58% up at Rs 893.65 on BSE on reports the Cabinet Committee on Economic Affairs has approved a hike in the price of natural gas from the company's KG-D6 basin from April 2014.
- Meghmani Organics was locked at 5% upper circuit at Rs 8.66 on BSE, with the stock extending Thursday's 5% rally triggered by the company installing and commissioning its pigment manufacturing facility at Dahej SEZ, Bharuch.
- TCS closed 1.84% up at Rs 2,119.55 on BSE after the company announced the launch of TCS Insurance Telematics Solution, a mobile application that turns consumers' smartphones into mobile telematics devices.
- Asian Paints closed 0.69% down at Rs 489.40 on BSE after the company said operations at its Tamil Nadu plant will be affected due to workers' strike from 20th December 2013.
- Mastek closed 15.00% up at Rs 155.25 on BSE on a sudden buying interest.
- Omaxe rose 0.4% to Rs 125.65 on BSE after two block deals aggregating 8.31 lakh shares were executed in the counter on BSE at Rs 125 per share at 11:26 IST.
- Alstom T&D India closed 2.79% up at Rs 189.55 on BSE after the company said it has secured two orders worth Rs 298.30 crore in Himachal Pradesh.
- MCX closed 10.43% up at Rs 458.40 on BSE on the back of high volumes.
- Maruti Suzuki India rose 1.66% to Rs 1,810.30 on BSE on reports the company's Japanese parent Suzuki Motor Corporation is looking at hiking its stake in the India's largest car maker.
- Aurobindo Pharma rose 1.88%, in the morning trade, to Rs 385.55 on BSE, with the stock extending recent steep rally triggered by the company receiving the final approval from USFDA to manufacture and market a generic medicine in the United States.
- Just Dial closed 4.46% up at Rs 1,324.75 on BSE ahead of the stock's inclusion in the FTSE All Cap index starting 23 December 2013.
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