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Reports India

Indian stock market daily morning report (September 03, 2014, Wednesday)

September 3, 2014, Wednesday, 10:22 GMT | 05:22 EST | 14:52 IST | 17:22 SGT
Contributed by Keynote Capitals


Views on markets today

- The BSE Sensex on Tuesday surged past 27,000 to a third consecutive record high as blue-chips such as HDFC Bank gained after recent data raised hopes about the economy. The milestone comes a day after the broader Nifty surpassed the 8,000 level for the first time, providing a further psychological lift that has made India the best performer this year in dollar terms in Asian equities.

The 30-share BSE Sensex rose as much as 0.- per cent to a record high of 27,082.85 before ending 0.57 per cent higher at 27,019.39. The Nifty also hit a record high, rising as much as 0.92 per cent to 8,101.95. It ended up 0.69 per cent.

- NMDC rose 0.63% to Rs 175.65 on BSE after the company reported rise in iron ore production and sales in five months upto August 2014 over the previous corresponding year ago period.

- Maruti Suzuki India rose 0.16% to Rs 2,917.45 on BSE, in volatile trade as the company opens customer bookings for mid-sized premium sedan Ciaz from today, 3 September 2014.

- HCL Technologies rose 1.59% to Rs 1,670.05 on BSE after the company announced that it has been selected by Sydney Trains as a strategic partner to provide bespoke systems support services.

- SPML Infra was locked at 5% upper circuit at Rs 65.10 on BSE after the company said it has received new orders worth Rs 1232.30 crore.

- Cipla rose 0.34% to Rs 559.30 on BSE after the company announced the launch of Serroflo, its Salmeterol/Fluticasone MDI, in Germany and Sweden.

- Among the 12 BSE Sectoral Indices - Indices closed in positive while 4 index ended the day in negative. Top Gainers: BSE IT up by 2.14%, BSE Teck by 1.99%. Top Losers: BSE FMCG down by 0.23%.

Market breadth was positive at ~1.19 as investors bought large cap stocks. On provisional basis, FII's bought Rs 6.72bn worth of Indian equities while DII's sold Rs 1.67bn worth of equities.


Economic and Corporate Developments

- Growth in services, which dominates India's economy, expanded at its weakest rate in three months in August, as orders inflow moderated after uptick in the immediate postelection period, showed a widely-tracked HSBC purchasing managers' index (PMI).

PMI for services was down at 50.6 points in August against 52.2 in July. A reading so close to 50, which indicates flat output, shows the need for further reforms in the economy.


Buzzing Stocks

- Tata Motors shed 0.2% to Rs 518.80 on BSE, after total sales declined 18% in August 2014 over August 2013.

- Hero MotoCorp rose 1.82% to Rs 2,809.40 on BSE after total sales rose 21% to 5.5- lakh units in August 2014 over August 2013.

- TVS Motor Company rose 2.69% to Rs 198.60 on BSE after the company said its total sales jumped 46% to 2.27 lakh units in August 2014 over August 2013.

- Cipla jumped 6.87% to Rs 566.10 on BSE on reports the company has launched an anti-asthma inhaler in Germany and Sweden that is a generic version of GlaxoSmithKline Plc's Advair.

- NOCIL jumped 13.47% to Rs 38.75 on BSE after a bulk deal was executed on the counter on BSE today, 2 September 2014.

- Bajaj Auto rose 1.03% to Rs 2,296.15 on BSE after the company reported good sales in August.

- Escorts fell 0.93% to Rs 117.65 on BSE after the company's agri machinery segment reported 7.33% fall in sales in August 2014 over August 2013.

- Punj Lloyd advanced 4.89% to Rs 39.70 on BSE on reports that the company is negotiating with Temasek to sell its minority stake in super specialty hospital Medanta Medicity.

- IRB Infrastructure Developers rose 1.73 % to Rs 252.60 on BSE after the company said it achieved financial closure in terms of the Concession Agreement executed with NHAI.

- Bhushan Steel was locked at 5% lower circuit at Rs 91. on BSE, with the stock extending its recent steep slide.

- Maruti Suzuki India rose 0.41% to Rs 2,927.50 on BSE after the company said it will open customer bookings for mid-sized premium sedan Ciaz from tomorrow, 3 September 2014 across its nationwide network.

- PC Jeweller gained 3.82% to Rs 191.45 on BSE after CRISIL reaffirmed its rating to the bank facilities and commercial paper program of the company.

- GMR Infrastructure rose 1.75% to Rs 26.20 on BSE after the company signed a memorandum of understanding (MoU) with Japan Bank for international cooperation on 2 September 2014.

- Coal India rose 0.4% to Rs 366.80 on BSE after the company reported production and offtake performance figures for August 2014.

- Elgi Equipments surged 6.23% at Rs 143.25 on BSE after a bulk deal was executed on the counter on BSE today, 2 September 2014.

- Era Infra Engineering was locked at 5% upper circuit at Rs 16.50 on BSE after the company bagged a construction contract from Airport Authority of India.

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