New York: 02:12 || London: 07:12 || Mumbai: 10:42 || Singapore: 13:12

Reports India

Indian stock market daily morning report (July 15, 2014, Tuesday)

July 15, 2014, Tuesday, 06:31 GMT | 01:31 EST | 10:01 IST | 12:31 SGT
Contributed by Keynote Capitals


Views on markets today

Markets ended a volatile session on a flat note, with a negative bias, amid profit taking in IT major Infosys post its first quarter earnings last week. Also, investor sentiments were dampened after foreign institutional investors sold Indian shares worth 7.23 billion rupees ($120.60 million) on Friday.

For the day, the Sensex was down 17 points at 25,007 and the Nifty gave off five points to settle at 7,454.

Seven metal shares rose by 0.09% to 5.07%, in the intraday trade, on BSE on optimism ahead of China GDP data due on Wednesday, 16th July, 2014.

Hindustan Zinc (up 5.07%), Hindalco Industries (up 4.96%), Tata Steel (up 2.06%), JsW Steel (up 1.83%), Steel Authority of India (Sail) (up 1.77%), Jindal Steel & Power (up 0.70%) and NMDC (up 0.09%), edged higher.

However, Sesa Sterlite (down 2.64%) and Bhushan Steel (down 1.37%), edged lower.

- Shares of three PSU OMCs rose by 0.51% to 2.20%, in the day's trade, on BSE on report diesel prices may be deregulated as early as December, 2014.

HPCL (up 2.20%), BPCL (up 1.71%) and Indian Oil Corporation (up 0.51%), edged higher.

Among the 12 BSE Sectoral Indices 6 indices closed in positive while 6 indices ended the day in negative. Top Gainers: BSE Capital Goods up by 1.14% and BSE Auto by 0.99%. Top Losers: BSE Consumer Durables down by 2.24% and IT by 1.27%.

Market breadth was negative at ~0.62 as investors sold large cap stocks. On provisional basis, FII's sold Rs 7.23bn worth of Indian equities and DII's bought Rs 3.31bn worth of equities.


Economic and Corporate Developments

- The wholesale price index (WPI)-based inflation fell to a four-month low of 5.43% in June against 6.01% in the previous month as the rate of food price rise declined and ironically onions turned cheaper.

However, this may not dissuade RBI from maintaining a status quo on its policy rates next month since sub-normal monsoon threatens drought in some parts of the country. Geo-political crisis in west Asia are also likely to weigh.

The food inflation, having a weight of 14.34%, dipped to 8.14% against 9.50% over the period, official data showed her.


Buzzing Stocks

- Lakshmi Vilas Bank closed 0.82% down at Rs 104.10 on BSE after the bank said its board of directors will meet on 16th July, 2014, to consider terms of right issue.

- Tata Steel closed 2.60% up at Rs 513.95 on BSE on turning ex-dividend on, 14th July, 2014, for dividend of Rs 10 per share for the year ended 31st March, 2014.

- Tata Motors closed 2.14% up at Rs 456.25 on BSE after the company said that its global wholesales declined 10.46% to 75,623 units in June, 2014 over June, 2013.

- Unichem Laboratories closed 4.42% down at Rs 186.95 on BSE after net profit declined 16.34% to Rs 30.19 crore on 9.57% growth in total income from operations to Rs 291 crore in Q1 June, 2014 over Q1 June, 2013.

- IFCI closed 2.00% up at Rs 35.65 on BSE, with the stock recovering on bargain hunting after Friday's steep 8.02% slide.

- Indiabulls Real Estate closed 1.51% up at Rs 80.70 on BSE on bargain hunting after the stock fell 20.38% in the preceding nine trading sessions to Rs 79.50 on 11th July, 2014, from a recent high of Rs 99.85 on 30th June, 2014.

- Bank of Maharashtra closed 2.27% down at Rs 47.30 on BSE after the bank said it has allotted shares to the Government of India and Life Insurance Corporation of India on preferential allotment basis.

- Mangalore Refinery and Petrochemicals rose 2.05%, in the morning trade, to Rs 67.30 on BSE on report ONGC is evaluating a proposal to merge ONGC Mangalore Petrochemicals with the company.

- Shakti Pumps (India) was locked at 5% lower circuit at Rs 229.95 on BSE, with the stock sliding on profit booking after recent steep rally after the company reported strong Q1 earnings.

- Hindalco Industries closed 4.15% up at Rs 173.35 on BSE as the finance minister in the Union Budget 2014-15 presented on 10th July, 2014, announced increase in export duty on bauxite from 10% to 20%.

- Advani Hotels & Resorts (India) hit an upper circuit limit of 20% at Rs 51.60 on BSE on a report that ITC is close to acquiring a luxury hotel in Goa for Rs 700 crore from the company.

- Tata Power Company closed 2.80% up at Rs 104.70 on BSE after the company said it has sought approval from the shareholders for raising up to Rs 7,000 crore through issue of non-convertible debentures on private placement basis.

- Sanofi India closed 10.07% down at Rs 2,904.60 on BSE as the Indian drug pricing authority capped the price at which the company can sell its key cardiac and anti-diabetes drugs.

- Titan Company closed 2.57% down at Rs 321.75 on BSE on reports that the company's jewellery unit, Tanishq had closed two gold deposit schemes.

- Man Industries (India) rose 3.78%, in the late trade, to Rs 75.55 on BSE after the company's shareholders approved the proposed scheme of arrangement between Man Industries (lndia) and Man lnfraprojects.

Stock Market Forum