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Reports India

Indian stock market daily morning report (June 17, 2014, Tuesday)

June 17, 2014, Tuesday, 06:21 GMT | 01:21 EST | 10:51 IST | 13:21 SGT
Contributed by Keynote Capitals


Views on markets today

- The Sensex fell for a second straight session on Monday, to its lowest close in one and half weeks on risk aversion among investors due to tensions in Iraq and Ukraine, with domestic-oriented stocks such as Larsen & Toubro taking a hit.

Brent crude rose above $113 a barrel to a near nine-month high as Sunni insurgents advanced in Iraq, intensifying concerns over a potential disruption in oil exports, while Ukraine added to investors' concerns.

The benchmark BSE Sensex closed down 0.15 per cent, or 37.69 points, at 25,228.17. The broader Nifty fell 0.11 per cent, or 8.55 points, to 7,542.10. Both the indexes marked their lowest close since June 5.

- Seven IT shares rose by 0.57% to 1.82% on BSE as the Indian rupee weakened against the dollar.

CMC (up 1.82%), TCS (up 1.62%), MphasiS (up 1.60%), Infosys (up 1.58%), Hexaware Technologies (up 1.26%), Wipro (up 0.98%) and Tech Mahindra (up 0.57%), edged higher.

- Two PSU OMCs lost 0.34% to 1.25% on BSE as US crude oil futures surged as Sunni insurgents advanced in Iraq, intensifying concerns over a potential disruption to oil exports from the second-largest OPEC producer.

Indian Oil Corporation (down 1.25% at Rs 329.05) and BPCL (down 0.34% at Rs 566.30) edged lower. Shares of HPCL were up 0.36% at Rs 393.65.

- Rural Electrification Corporation rose 2.44% to Rs 345.95 on BSE, with the stock recovering on bargain hunting after recent slide.

- Yes Bank rose 0.87% to Rs 532 on BSE after the bank's advance tax payment rose 20.19% to Rs 125 crore in Q1 June 2014 over Q1 June 2013.

- Jaiprakash Associates rose 3.75% to Rs 77.40 on BSE with the stock recovering on bargain hunting after recent steep slide.

- Among the 12 BSE Sectoral indices, 7 index closed in positive while 5 indices ended the day in negative. Top Gainers: BSE IT up by 0.84% and BSE Teck by 0.82%. Top Losers: BSE Bankex down by 0.53%.

Market breadth was negative at ~0.86 as investors sold large cap stocks. On provisional basis, FII’s sold Rs 1.94bn worth of Indian equities and DII’s sold Rs 4.48bn worth of equities.


Buzzing Stocks

- TCS rose 1.89% to Rs 2256.60 on BSE after the company said that the appreciation of the rupee against the dollar will adversely impact the company's EBIT margin by about 100 basis points in Q1 June 2014.

- Hero MotoCorp fell 0.26% to Rs 2582.05 on BSE after US-based private equity firm Bain Capital on Friday, 13 June 2014, sold 56.1- lakh shares of Hero MotoCorp via bulk deals on BSE and NSE.

- Idea Cellular rose 1.41% to Rs 137 on BSE after the Reserve Bank of India on Friday, 13 June 2014, notified hike in FII investment ceiling to 49% from earlier 24% of the paid-up capital of the company.

- Titagarh Wagons rose 2.50% to Rs 288.25 on BSE after the company said it forayed into metro coach business.

- Britannia Industries rose 3.44% to Rs 957 on BSE, with the stock recovering on bargain hunting after Friday's 5.4% slide.

- Dish TV India surged 3.8% to Rs 56.05 on BSE, with the stock recovering on bargain hunting after recent slide.

- GMR Infrastructure lost 3.17% to Rs 32.10 on BSE on reports that the company is looking to raise $250 million through a qualified institutional placement.

- Nitesh Estates surged 3.66% to Rs 17 on BSE after the company said it has signed up a joint development pact for development of a gated community in an area of 12 acres to accommodate 440 units.

- Reliance Capital rose 3.93% to Rs 614.35 on BSE on bargain hunting after the stock slipped 11.05% in the preceding four trading sessions to Rs 591.10 on 13 June 2014, from a recent high of Rs 664.55 on 9 June 2014.

- Central Bank of India rose 2.16% to Rs 78.10 on BSE after the bank said that it has fixed issue price of Rs 81.83 per share for preferential allotment of shares to LIC.

- Granules India rose 2.47% to Rs 406 on BSE after the company said that its paracetamol facility completed US drug regulator's inspection.

- GAIL (India) rose 3.95% to Rs 433.25 on BSE on buzz that a foreign brokerage has raised the price target on the stock to Rs 525 from Rs 450 earlier.

- Mahindra Lifespace Developers lost 1.06% to Rs 564.85 on BSE, with the stock sliding on profit booking after the firm said its board has recommended raising an amount not exceeding Rs 750 crore through private placement of NCDs.

- Arvind Remedies rose 1.75% to Rs 37.75 on BSE after the company said it signed a pact with Adesh University to make formulation products targeting certain diseases.

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