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Reports India

Indian stock market daily morning report (May 15, 2014, Thursday)

May 15, 2014, Thursday, 05:45 GMT | 01:45 EST | 10:15 IST | 12:45 SGT
Contributed by Keynote Capitals

Views on markets today

Benchmark share indices consolidated on Wednesday as investors remained wary of mounting aggressive bets and booked profits ahead of the general elections results due on Friday.

Investor sentiment was also subdued after consumer price inflation (CPI) numbers for April, released on Monday, showed that retail inflation rose from 8.3% in March, 2014 to 8.6% in April, 2014. An increase in inflation might only delay the potential easing of policy rates by the RBI.

The 30-share Sensex closed 56 points at 23,815 and the 50-share Nifty closed flat at 7,109. Nifty ended almost unchanged from the previous session's closing levels.

Shares of 24 state-run banks rose by 0.13% to 3.96%, in the noon trade, on BSE after a committee appointed by Reserve Bank of India proposed that the Indian government should cut its stakes in state banks to below 50%.

Canara Bank (up 3.96%), Central Bank of India (up 3.16%), Indian Overseas Bank (up 2.99%), Allahabad Bank (up 2.58%), Corporation Bank (up 2.31%), Punjab National Bank (up 2.24%), Bank of India (up 2.18%), Andhra Bank (up 2.12%), Bank of Baroda (up 2.10%), Union Bank of India (up 2.01%), Indian Bank (up 1.65%), IDBI Bank (up 1.63%), Dena Bank (up 1.49%), Oriental Bank (up 1.43%), State Bank Of Bikaner and Jaipur (up 1.24%), uCo Bank (up 1.21%), Vijaya Bank (up 1.2%), United Bank of India (up 1%), Jammu and Kashmir Bank (up 0.89%), Punjab & Sind Bank (up 0.64%), State Bank of India (up 0.63%), Syndicate Bank (up 0.45%), State Bank of Travancore (up 0.26%) and Bank of Maharashtra (up 0.13%), edged higher.

Among the 12 BSE Sectoral indices, 7 indices closed in positive while 5 index ended the day in negative. Top Gainers: BSE Realty up by 4.32% and BSE Metal by 3.22%. Top Losers: BSE Oil & Gas down by 0.78% and BSE Capital Goods by 0.36%.

Market breadth was positive at ~1.3- as investors bought large cap stocks. On provisional basis, FII's bought Rs 15.20bn worth of Indian equities and DII's sold Rs 4.10bn worth of equities. The ratio of NSE Total Market Capitalization to GDP(at Current Prices) stands at 281.7%.

Buzzing Stocks

- Nestle India closed 1.96% down at Rs 4,757.00 on BSE after net profit declined 7.14% to Rs 259.16 crore on 2.91% rise in net sales to Rs 2313.46 crore in Q1 March, 2014 over Q1 March, 2013.

- Gujarat State Fertilizers & Chemicals closed 7.00% up at Rs 66.45 on BSE after net profit surged 129.4% to Rs 134.09 crore on 10.5% decline in net sales to Rs 1,518.09 crore in Q4 March, 2014 over Q4 March, 2013.

- Ashoka Buildcon jumped 7.60%, in the opening trade, to Rs 113.30 on BSE after consolidated net profit jumped 110.89% to Rs 13.56 crore on 6.45% decline in net total income from operations to Rs 608.25 crore in Q4 March, 2014 over Q4 March, 2013.

- Dr Reddy's Laboratories closed 3.51% down at Rs 2,519.00 on BSE, with the stock extending Tuesday's fall triggered by announcing weak results for Q4 March, 2014.

IL&FS Transportation Networks closed 2.24% down at Rs 154.85 on BSE after consolidated net profit dropped 34.2% to Rs 117.42 crore on 5.24% fall in total income from operations (net) to Rs 1,829.31 crore in Q4 March, 2014 over Q4 March, 2013.

Chennai Petroleum Corporation closed 3.11% up at Rs 82.82 on BSE after the company scheduled a board meeting on 16th May, 2014 to consider issue of rights shares.

- Umang Dairies hit the 20.005 upper circuit limit, at Rs. 40.40 on BSE after net profit surged 78.50% to Rs 3.57 crore on 59.58% rise in net sales to Rs 87.13 crore in Q4 March, 2014 over Q4 March, 2013.

- Bank of Baroda closed 9.22% up at Rs 958.85 on BSE, extending Tuesday's 4.59% jump triggered by the company's good Q4 March, 2014 outcome.

- Tata Coffee closed 5.00% down at Rs 967.15, on BSE after consolidated net profit fell 35.3% to Rs 16.32 crore on 0.3% decline in net sales to Rs 374.27 crore in Q4 March, 2014 over Q4 March, 2013.

- Sadbhav Engineering closed 4.34% up at Rs 152.50 on BSE after 0.68% equity changed hands in two bulk deals on BSE, on 14th May, 2014.

- Adani Ports and Special Economic Zone closed 3.17% up at Rs 217.15 on BSE on profit booking after the stock surged 20.53% in the preceding six trading sessions to Rs 224.25 on 13th May, 2014 from a recent low of Rs 186.05 on 5th May, 2014.

Vivimed Labs closed 16.03% up at Rs 264.15 on BSE after the company denied reports which indicated that negotiations are going on for sale of its speciality chemical businesses.