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Indian stock market daily morning report (December 30, 2013, Monday)
Views on markets today
- Key benchmark indices closed near day's high led by gains in sector, were in the green with IT, Pharmaceuticals, FMCG and banks taking cues from global peers.
The 50-share index ended at 6,313.80, up 34.90 points or 0.56 %. It touched a high of 6,324.90 and a low of 6,289.40 in trade today.
The S&P BSE Sensex closed the day at 21,193.58, up 118.99 points or 0.56 %. It touched a high of 21,235.14 and a low of 21,113.25 in trade today.
- The Nifty gainers included TCS (up 2.87%), NMDC (up 2.06%), Kotak Bank (up 1.95%), Cipla (up 1.78%) and Wipro (up 1.18%).
Jaiprakash Associates (1.37%), Maruti (1.03%), Reliance Industries (0.98%), Asian Paints (0.97%) and UltraTech Cement (0.55%) were among the losers.
- BSE Sectoral Indices 10 sectors closed in positive while 2 sectors ended the day in negative. Top Gainers: BSE IT up by 1.71% and BSE Teck by 1.39%. Top Losers: BSE Oil & Gas down by 0.39% and BSE Auto by 0.09%.
Market breadth was positive at ~1. 1- as investors bought large cap stocks. On provisional basis, FII's bought Rs 2.96bn worth of Indian equities and DII's sold Rs 1.60bn worth of equities.
Economic and Corporate Developments
- India's engineering exports to its one of biggest destination -the US - has dipped by about 10% to $3.90 billion during April-November this fiscal due to slowdown in global demand.
"The shipments to the US dropped by 9.19% to 3.90 billion during April-November this fiscal from $4.3 billion and the country is among India's largest destination," Engineering Export Promotion Council (EEPC) said in a statement today.
Similarly, the exports to Germany fell by about 6% to $1.3 billion during the period.
- India will overtake Japan in 202- to become the world's third largest economy, a new report has found.
The London-based Center for Economics and Business Research (CEBR) said Japan is likely to follow a weak currency policy in future, which means that India will overtake its GDP in dollar terms earlier than previously expected.
The research found that China was expected to overtake the United States in 202- to become the world's largest economy.
- Dena Bank closed up 2.68% to Rs 63.25 on BSE after the bank said it has allotted 11.85 crore equity shares of the bank at Rs 59.03 per share to the Government of India on preferential allotment basis.
- Lanco Infratech closed up 1.45% to Rs 7.6- on BSE, with the stock extending recent steep rally triggered by the company's board securing the lenders' nod for corporate debt restructuring.
- Brigade Enterprises closed up 0.71% to Rs 63.45 on BSE after the firm said it has purchased a prime property measuring 2.25 acres at Hebbal, Bangalore from Hindustan Coca-Cola Beverages for Rs 68.83 crore for developing a real estate project.
- Shares of Apollo Hospitals Enterprise and Mahindra & Mahindra Financial Services closed up 6.18% and 0.84% respectively on BSE as these two stocks have been included by NSE for trading in its futures & options segment starting today, 27 December 2013.
- Bharat Heavy Electricals closed down 0.83% to Rs 173.25 on BSE, with the stock sliding on profit booking after recent rally after the company said it has secured an worth Rs 1,023 crore from Neyveli Lignite Corporation.
- Sundaram Finance closed down 1.21% to Rs 614.30 on BSE after a block deal of 1.6 lakh shares was executed in the counter on BSE at Rs 625 per share.
- Polaris Financial Technology closed up 4.34% to Rs 138.20 on BSE after the Securities Appellate Tribunal quashed and set aside a Sebi order that barred the company's chairman Arun Jain from market activities on charges of insider trading.
- Shares of Multi Commodity Exchange of India and Financial Technologies (India) closed down 4.37% and 1.01% on BSE after MCX said its board has advised FTIL to implement FMC's order by reducing its stake in MCX.
- Dhanuka Agritech closed up 1.41% to Rs 183.80 on BSE after three block deals aggregating 6.8- lakhs shares were executed in the counter on BSE.
- Indraprastha Gas closed up 0.39% to Rs 267 on BSE after the company announced the increase in CNG and PNG prices.
- Hindustan Motors closed up 1.13% to Rs 8.02 on BSE after the company on Thursday, 26 December 2013 at its 71st annual general meeting announced business restructuring plans.
- Seven IT stocks were up 0.94% to 4.19% on BSE after the latest data showed US jobless claims fell last week.
Hexaware Technologies (up 4.19% at Rs 131.85), TCS (up 2.83% at Rs 2,158.95), Oracle Financial Services Software (up 2.45% at Rs 3,314.50), Tech Mahindra (up 1.85% at Rs 1,861.15), Wipro (up 1.42% at Rs 555.40), CMC (up 0.94% at Rs 1,558.45) and Infosys (up 1.33% at Rs 3,562.25) edged higher.
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