New York: 00:55 || London: 05:55 || Mumbai: 09:25 || Singapore: 11:55

Reports India

Indian stock market daily morning report (July 22, 2014, Tuesday)

July 22, 2014, Tuesday, 05:25 GMT | 00:25 EST | 08:55 IST | 11:25 SGT
Contributed by Keynote Capitals


Views on markets today

- Markets gained for the fifth straight session on Monday amid encouraging first quarter earnings from index heavyweights Reliance Industries and HDFC. Meanwhile, the broader markets outperformed the benchmark indices with the Small-cap index gaining nearly 1% as foreign institutional investors turned focus to the broader markets where valuations are seen reasonable at current levels.

The 30-share Sensex gained 73 points to end the session at 25,715 and the Nifty added 20 points to close at 7,684.

Shares of Financial Technologies (India) and Multi Commodity Exchange of India surged 4.39% and 9.12%, in the intraday trade, on BSE after FTIL said it has entered into a share purchase agreement to sell 15% stake in MCX to Kotak Mahindra Bank.

FTIL (up 4.39% at Rs 279.10) and MCX (up 9.12% at Rs 857.95) edged higher. Shares of Kotak Mahindra Bank were up 1.96% at Rs 953.40.

- Hindustan Zinc closed 0.67% down at Rs 164.20 on BSE after net profit declined 3% to Rs 1,61- crore on 1% growth in revenue to Rs 2,963 crore in Q1 June, 2014 over Q1 June, 2013

- UltraTech Cement closed 0.95% down at Rs 2,524.00 on BSE after consolidated net profit declined 6.12% to Rs 62- crore on 13.6% growth in net sales to Rs 5,989 crore in Q1 June, 2014 over Q1 June, 2013.

- CRISIL closed 3.85% down at Rs 1,910.80 on BSE after consolidated net profit declined 4.44% to Rs 57.83 crore on 14.8% growth in income from operations to Rs 305.13 crore in Q2 June 2014 over Q2 June 2013.

- Among the 12 BSE Sectoral Indices 7 indices closed in positive while 5 indices ended the day in negative. Top Gainers: BSE FMCG up by 1.05% and BSE Oil & Gas by 0.60%. Top Losers: BSE Realty down by 1.00% and BsE Capital Goods by 0.78%.

Market breadth was positive at ~1.36 as investors bought large cap stocks. On provisional basis, FII’s bought Rs1.61bn worth of Indian equities and DII's sold Rs 1.81 bn worth of equities.


Economic and Corporate Developments

Foreign institutional investors (FIIs) who have pumped over $12 billion (Rs 70,276 crore) in Indian equities year-till-date (YTD), have increased their stake in more than 150 mid-and small-sized companies during the April - June 2014 quarter.

A bulk of their investment, nearly 50% of inflow thus far, has been allocated to the mid-and small-caps in the recently concluded quarter.


Buzzing Stocks

- Reliance Industries closed 2.11% up at Rs 997.35 on BSE after consolidated net profit rose 13.7% to Rs 5957 crore on 7.2% growth in revenue to Rs 1,07,905 crore in Q1 June, 2014 over Q1 June, 2013.

- Hindalco Industries closed 0.60% down at Rs 183.45 on BSE after the company said its board of directors approved raising of funds up to Rs 5,000 crore.

- HDFC Bank closed 0.53% down at Rs 834.50 on BSE, with the stock trimming intraday gain in volatile trade after declaring Q1 June, 2014 result during market hours, on 21st July, 2014.

- Reliance Infrastructure rose 1.11%, in the intraday trade, to Rs 775 on BSE after consolidated net profit rose 10% to Rs 45- crore on 20.84% decline in total income to Rs 4,54- crore in Q1 June, 2014 over Q1 June, 2013.

- Federal Bank rose 1.03%, in the intraday trade, to Rs 127.15 on BSE after 0.23% equity changed hands in two bulk deals on BSE, on 21st July, 2014.

- Greenply Industries closed 11.21% up at Rs 897.00 on BSE, with the stock extending Friday's 7.58% rally triggered by the company reporting strong Q1 earnings.

- Rolta India closed 4.37% up at Rs 114.70 on BSE after the company said it has been awarded an additional scope of work by Sadara Chemical Company.

- Canara Bank closed 2.73% down at Rs 400.80 on BSE, with the stock reversing intraday gain in volatile trade after the state-run bank declared Q1 result during market hours, yesterday.

- Strides Arcolab rose 2.34% while Bafna Pharmaceuticals was locked at 5% lower circuit on BSE after both the companies entered into a definitive pact for sale of majority stake in Bafna's India branded generics business to Strides Arcolab.

- Reliance Power closed 1.45% up at Rs 95.30 on BSE after consolidated net profit rose 1.66% to Rs 244 crore on 56.09% growth in operating revenue to Rs 1,753 crore in Q1 June, 2014 over Q1 June, 2013.

- Housing Development Finance Corporation closed 3.06% up at Rs 1,014.90 on BSE after consolidated net profit rose 9.71% to Rs 1,872.90 crore on 18.46% growth in total income to Rs 10,039.40 crore in Q1 June, 2014 over Q1 June, 2013.

- Tata Metaliks was locked at 10% upper circuit at Rs 113.20 on BSE after the company reported turnaround Q1 result during market hours, on 21st July, 2014.

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