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Indian stock market daily morning report (June 09, 2014, Monday)

June 9, 2014, Monday, 06:15 GMT | 01:15 EST | 10:45 IST | 13:15 SGT
Contributed by Keynote Capitals


Views on markets today

- The markets on Friday continued to scale new highs, as foreign investors pumped in dollars amid the improved sentiment surrounding the new government. Since the Narendra Modi-led National Democratic Alliance government took charge at the Centre on May 26, the markets have gained about three per cent, while foreign investors have pumped in about Rs 6,600 crore ($1.2 billion) into Indian stocks.

The positive momentum in the secondary market and the availability of foreign capital has helped India Inc tap the market to raise capital.

On Friday, the Sensex gained about 377 points, or 1.5 per cent, to close at a new all-time high of 25,396.46, while the broader Nifty gained 109.3 points, or 1.46 per cent, to record a new high of 7,583.4. During intra-day trade, the Sensex and the Nifty recorded new intra-day highs of 25,419.14 and 7,592.7, respectively.

- Sixteen sugar stocks spurted 3.45% to 20%, in the intraday trade, on BSE on reports the government will examine raising import tax on sugar to support local prices and help mills clear dues to cane growers which is estimated at Rs 11,000 crore.

- Eastern Sugar & Industries was locked at 20% upper circuit at Rs 2.76, Dhampur Sugar Mills (up 13.48% at Rs 65.65), Shree Renuka Sugars (up 12.89% at Rs 30.65), KCP Sugar & Industries Corporation (up 12.53% at Rs 27.85), Triveni Engineering & Industries was locked at 10% upper circuit at Rs 34.10, Balrampur Chini Mills (up 8.97% at Rs 85), Bajaj Hindusthan (up 7.86% at Rs 30.20), dCm Shriram Industries (up 5.75% at Rs 112.20), Empee Sugars and Chemicals was locked at 5% upper circuit at Rs 7.81, Upper Ganges Sugar & Industries was locked at 5% upper circuit at Rs 55.85, Dwarikesh Sugar Industries was locked at 5% upper circuit at Rs 42.55, Sakthi Sugars was locked at 5% upper circuit at Rs 24.75, Rana Sugars was locked at 5% upper circuit at Rs 4.25, Oudh Sugar Mills was locked at 5% upper circuit at Rs 29.15, Simbhaoli Sugars was locked at 5% upper circuit at Rs 20.65, and EID Parry (India) (up 3.45% at Rs 218.60), edged higher.

- Among the 12 BSE Sectoral indices, 10 indices closed in positive while 2 index ended the day in negative. Top Gainers: BSE Realty up by 5.02% and BSE Oil & Gas both by 4.82%. Top Losers: BsE IT down by 0.63% and BSE Teck by 0.29%.

Market breadth was sharply positive at ~2.20 as investors bought large cap stocks. On provisional basis, FII's bought Rs 12.83bn worth of Indian equities and DII's sold Rs 3.15bn worth of equities.


Buzzing Stocks

- Three PSU OMCs rose 1.75% to 2.8%, in the intraday trade, on BSE, extending Thursday's rally triggered by the recent slide in crude oil prices.

BPCL (up 2.8% at Rs 634.10), Indian Oil Corporation (up 2.51% at Rs 376.10), and HPCL (up 1.75% at Rs 454.20) edged higher.

- Idea Cellular closed 3.26% up at Rs 140.80 at on BSE after the company said that it intends to raise up to Rs 3,000 crore from QIP issue of shares.

- Yes Bank closed 1.18% up at Rs 581.05 on BSE after the bank said that its Capital Raising Committee approved the issue and allotment of 5.34 crore equity shares to eligible qualified institutional buyers at an issue price of Rs 550 per share.

- NHPC closed 0.38% up at Rs 26.70 on BSE after the company said that the unit 4 of Parbati-III power station has been declared operational.

- TCS closed 1.02% down at Rs 2,084.05 on BSE as the stock turned ex-dividend on, 6th June, 2014, for final dividend of Rs 20 per share for the year ended 31st March, 2014.

- Tech Mahindra closed 0.09% down at Rs 1,905.85 on BSE, with the stock sliding amid volatility after the company and Informatica Corporation announced an expansion of their decade-long strategic association.

- Strides Arcolab closed 9.54% up at Rs 599.70 on BSE after the company said it has received approval from the US Food & Drug Administration for Methoxsalen Capsules USP, 10 mg (Soft Gelatin Capsules).

- Suzlon Energy was locked at 5% upper circuit at Rs 31.30 on BSE, with the stock extending Thursday's 5% rally triggered by the company securing an order from ReNew Wind Power, India's leading IPP in the wind energy sector.

- SML Isuzu closed 5.07% up at Rs 453.00 on BSE, with the stock gaining on renewed buying triggered by the company reporting good sales growth in May, 2014.