Benchmark indices snap 2-day losing streak
Gains in global stocks aided modest upmove for the two key equity benchmark indices in India in what was a highly volatile trading session. The barometer index, the S&P BSE Sensex, rose 172.08 points or 0.7% to settle at 24,854.11. The 50-unit Nifty 50 index rose 52.10 points or 0.69% to settle at 7,562.40. The two key benchmark indices snapped a two-day losing streak. The broad market depicted weakness.
It was a highly volatile trading session. Gains in global stocks took key benchmark indices higher in early trade. In a sudden reversal of trend, the Sensex and the Nifty slipped into the red from green in mid-morning trade. After extending intraday slide in afternoon trade, the two key benchmark indices staged a strong rebound later. After extending gains in mid-afternoon trade, the Sensex and the Nifty trimmed gains in late trade.
TCS edged lower on weak Q3 results. IndusInd Bank edged higher after the bank announced that it has partnered with online payment solution leader PayU India to redefine the digital experience for Indian consumers.
In overseas stock markets, European shares edged higher, with better-than-expected Chinese trade data tempering some of the concerns about a slowdown in the world's second largest economy. US stocks edged higher yesterday, 12 January 2016, as investors bought shares of consumer, technology and health-care companies, even as the energy sector slipped.
Asian stocks edged higher after Chinese trade data for December 2015 beat expectations and as Chinese authorities guided the yuan in a stable range for the fourth day in a row. However, stocks fell in mainland China. The Shanghai Composite ended 2.42% lower. Its losses accelerated in the last hour of trading. China's exports rose 2.3% in December 2015 from a year earlier in yuan terms, after a drop of 3.7% in November 2015. Imports fell 4% in December 2015 in yuan terms from a year earlier, compared with a 5.6% decrease in November 2015.
The Sensex rose 172.08 points or 0.7% to settle at 24,854.11, its highest closing level since 8 January 2016. The barometer index rose 274.51 points or 1.11% at the day's high of 24,956.54. The Sensex fell 294.34 points or 1.19% at the day's low of 24,387.69.
The Nifty rose 52.10 points or 0.69% to settle at 7,562.40, its highest closing level since 11 January 2016. The Nifty rose 80.65 points or 1.07% at the day's high of 7,590.95. The index fell 84.50 points or 1.12% at the day's low of 7,425.80.
The broad market depicted weakness. More than three stocks fell for each stock that rose on BSE. 2,160 shares fell and 644 shares rose. A total of 67 shares were unchanged. The BSE Mid-Cap index fell 0.46%. The BSE Small-Cap index declined 1.76%. Both these indices underperformed the Sensex.
The total turnover on BSE amounted to Rs 4496 crore, higher than turnover of Rs 2643.71 crore registered during the previous trading session.
Among the sectoral indices on BSE, the S&P BSE Energy index (up 1.57%) and the S&P BSE Auto index (up 0.89%) outperformed the Sensex. The S&P BSE Telecom index (down 1.72%), the S&P BSE Capital Goods index (down 1.34%), the S&P BSE Utilities index (down 1.25%), the S&P BSE Power index (down 1.11%) and the S&P BSE Realty index (down 1.04%) underperformed the Sensex
Index heavyweight and cigarette major L&T fell 2.52% at Rs 1,149.90. The stock hit a high of Rs 1,192 and a low of Rs 1,128.70 in intraday trade.
Index heavyweight Reliance Industries rose 2.69% at Rs 1,073.25. The stock hit a high of Rs 1,087.40 and a low of Rs 1,019.35 in intraday trade. The company will announce Q3 December 2015 results on 19 January 2016.
Index heavyweight and IT major Infosys rose 3.14% at Rs 1,083. The stock hit a high of Rs 1,090 and a low of Rs 1,047.60 in intraday trade. The company will announce Q3 results tomorrow, 14 January 2016.
TCS edged lower on weak Q3 results. The stock fell 1.55% at Rs 2,288. The stock hit a high of Rs 2,327.95 and a low of Rs 2,258 in intraday trade. TCS' consolidated net profit fell 0.03% to Rs 6083 crore on 0.73% growth in revenue to Rs 27364 crore in Q3 December 2015 over Q2 September 2015. The result was announced after market hours yesterday, 12 January 2016.
Commenting on the Q3 performance, Chief Executive Officer and Managing Director, N Chandrasekaran said that all its industry segments have exhibited growth in a traditionally weak quarter additionally accentuated by the impact of the Chennai floods. The company's international business has grown smartly in constant currency terms with North America and Europe leading the way among major markets and Latin America among growth markets.
PSU bank stocks declined. IDBI Bank (down 5.43%), Bank of India (down 4.49%), Bank of Baroda (down 1.71%), Punjab National Bank (down 1.71%), Canara Bank (down 3.76%), Allahabad Bank (down 2.85%), Andhra Bank (down 2.87%), Vijaya Bank (down 1.82%) edged lower. Union Bank of India rose 1.06%.
State Bank of India rose 0.58% to Rs 201, with the stock gaining on bargain hunting after falling 12.21% in preceding seven trading days to Rs 199.85 yesterday, 12 January 2016 from a recent high of Rs 227.65 on 1 January 2016.
Private sector bank stocks were mixed. Yes Bank (up 1.44%), HDFC Bank (up 1%) and ICICI Bank (up 0.49%) rose. Axis Bank (down 0.04%) and Kotak Mahindra Bank (down 0.4%) edged lower.
IndusInd Bank rose 2.59% after the bank announced that it has partnered with online payment solution leader PayU India to redefine the digital experience for Indian consumers, by bringing the full suite of consumer banking products online and powering the same through payment innovations and online eco-systems enabled by PayU India. This partnership is aimed at bridging the gap between conventional banking world and the new age online payment systems, the bank said.
Announcements about the new products and services under the partnership will be made in the next 4-6 months time, the two companies said in a joint press release after hours yesterday, 12 January 2016.
Auto stocks were mixed. Ashok Leyland (down 2.06%), Eicher Motors (down 0.11%), Hero MotoCorp (down 0.02%), TVS Motor Company (down 1.45%) fell. Tata Motors (up 2.37%), Bajaj Auto (up 1.56%), Maruti Suzuki India (up 0.04%) and Mahindra & Mahindra (M&M) (up 1.59%) gained.
Most pharma stocks fell. Aurobindo Pharma (down 1.05%), Wockhardt (down 3.03%), Lupin (down 1.69%), Cadila Healthcare (down 0.05%), Cipla (down 0.6%), Dr Reddy's Laboratories (down 1.09%) declined. Glenmark Pharmaceuticals (up 2.58%), Sun Pharmaceutical Industries (up 1.12%), GlaxoSmithKline Pharmaceuticals (up 0.94%) rose.
Marksans Pharma fell by its maximum permissible daily limit of 20% at Rs 75.80 on reports that the company's Goa plant has got a notice of deficiency from UK Medicines and Healthcare products Regulatory Agency (MHRA). The drug regulator has found violations in goods manufacturing practices (GMP) norms in the Goa plant. The UK drug market contributes 40% to the company's revenue, report added.
Most metal shares declined. Vedanta (down 3.74%), Jindal Steel & Power (down 2.87%), Hindustan Copper (down 2.79%), National Aluminium Company (down 2.64%), Steel Authority of India (down 1.74%), NMDC (down 1.62%), Bhushan Steel (down 1.32%) and JSW Steel (down 0.8%), edged lower. Hindustan Zinc (up 0.18%), Tata Steel (up 0.32%) and Hindalco Industries (up 1.52%) edged higher.
Telecom shares edged lower. MTNL (down 5.05%), Tata Teleservices (Maharashtra) (down 4.65%), Idea Cellular (down 3.35%) and Reliance Communications (down 1.68%) edged lower.
Bharti Airtel fell 1.95% at Rs 309 after the company said that Orange will acquire Bharti Airtel International (Netherlands) BV's subsidiaries in Burkina Faso and Sierra Leone. The announcement was made by the company during market hours today, 13 January 2016. Orange will acquire 100% of the two companies' share capital. The consolidated revenue of the two companies is around 275 million euros. These acquisitions will be implemented in partnership with Orange's subsidiaries in the Côte d'Ivoire and Senegal. The outlay for Orange for these transactions will be based on the financials of Airtel's two subsidiaries for the year ended 31 March 2016 (FY 2016) and will represent the equivalent of 7.9 times Airtel's earnings before interest, taxes, depreciation and amortization (EBITDA) in these two countries at this time. The completion of these transactions remains subject to approval by the competent authorities.
Nilkamal lost 9.22% to Rs 1,403 on profit booking after gaining 12.62% in preceding three trading days to Rs 1,545.55 yesterday, 12 January 2016 from a recent low of Rs 1,372.30 on 7 January 2016.
Redington (India) lost 4.02% to Rs 107.50 after a large bulk deal of 82.13 lakh shares was executed on the scrip at Rs 114.75 at 13:56 IST on BSE today, 13 January 2016.
Key indices snapped two-day losing streak. The Sensex had fallen 252.30 points or 1.01% in the preceding two trading sessions to settle at 24,682.03 yesterday, 12 January 2016, from a recent high of 24,934.33 on 8 January 2016. The Sensex has fallen 1,263.43 points or 4.83% in this month so far (till 13 January 2016). The Sensex is off 5,170.63 points or 17.22% from a record high of 30,024.74 hit on 4 March 2015.
On the macro front, the latest data showed that inflation based on the consumer price index (CPI) accelerated last month. The all-India general consumer price index (CPI) inflation inched up to 5.61% in December 2015 from 5.41% in November 2015. Among the CPI components, inflation of food and beverages increased to 6.3% in December 2015 from 6.1% in November 2015 contributing to the rise in CPI inflation. The core CPI inflation rose to 4.5% in December 2015 from 4.2% in November 2015. The government disclosed the data after market hours yesterday, 12 January 2016.
Another data showed that India's industrial production witnessed a contraction during the festive Diwali month in November 2015 due to high base effect. Industrial Production declined 3.2% in November 2015 over a year ago period. The output of the manufacturing sector declined 4.4% in November 2015, contributing to the decline in industrial production. The government disclosed the data after market hours yesterday, 12 January 2016.
It was a highly volatile trading session. Gains in global stocks took key benchmark indices higher in early trade. In a sudden reversal of trend, the Sensex and the Nifty slipped into the red from green in mid-morning trade. After extending intraday slide in afternoon trade, the two key benchmark indices staged a strong rebound later. After extending gains in mid-afternoon trade, the Sensex and the Nifty trimmed gains in late trade.
TCS edged lower on weak Q3 results. IndusInd Bank edged higher after the bank announced that it has partnered with online payment solution leader PayU India to redefine the digital experience for Indian consumers.
In overseas stock markets, European shares edged higher, with better-than-expected Chinese trade data tempering some of the concerns about a slowdown in the world's second largest economy. US stocks edged higher yesterday, 12 January 2016, as investors bought shares of consumer, technology and health-care companies, even as the energy sector slipped.
Asian stocks edged higher after Chinese trade data for December 2015 beat expectations and as Chinese authorities guided the yuan in a stable range for the fourth day in a row. However, stocks fell in mainland China. The Shanghai Composite ended 2.42% lower. Its losses accelerated in the last hour of trading. China's exports rose 2.3% in December 2015 from a year earlier in yuan terms, after a drop of 3.7% in November 2015. Imports fell 4% in December 2015 in yuan terms from a year earlier, compared with a 5.6% decrease in November 2015.
The Sensex rose 172.08 points or 0.7% to settle at 24,854.11, its highest closing level since 8 January 2016. The barometer index rose 274.51 points or 1.11% at the day's high of 24,956.54. The Sensex fell 294.34 points or 1.19% at the day's low of 24,387.69.
The Nifty rose 52.10 points or 0.69% to settle at 7,562.40, its highest closing level since 11 January 2016. The Nifty rose 80.65 points or 1.07% at the day's high of 7,590.95. The index fell 84.50 points or 1.12% at the day's low of 7,425.80.
The broad market depicted weakness. More than three stocks fell for each stock that rose on BSE. 2,160 shares fell and 644 shares rose. A total of 67 shares were unchanged. The BSE Mid-Cap index fell 0.46%. The BSE Small-Cap index declined 1.76%. Both these indices underperformed the Sensex.
The total turnover on BSE amounted to Rs 4496 crore, higher than turnover of Rs 2643.71 crore registered during the previous trading session.
Among the sectoral indices on BSE, the S&P BSE Energy index (up 1.57%) and the S&P BSE Auto index (up 0.89%) outperformed the Sensex. The S&P BSE Telecom index (down 1.72%), the S&P BSE Capital Goods index (down 1.34%), the S&P BSE Utilities index (down 1.25%), the S&P BSE Power index (down 1.11%) and the S&P BSE Realty index (down 1.04%) underperformed the Sensex
Index heavyweight and cigarette major L&T fell 2.52% at Rs 1,149.90. The stock hit a high of Rs 1,192 and a low of Rs 1,128.70 in intraday trade.
Index heavyweight Reliance Industries rose 2.69% at Rs 1,073.25. The stock hit a high of Rs 1,087.40 and a low of Rs 1,019.35 in intraday trade. The company will announce Q3 December 2015 results on 19 January 2016.
Index heavyweight and IT major Infosys rose 3.14% at Rs 1,083. The stock hit a high of Rs 1,090 and a low of Rs 1,047.60 in intraday trade. The company will announce Q3 results tomorrow, 14 January 2016.
TCS edged lower on weak Q3 results. The stock fell 1.55% at Rs 2,288. The stock hit a high of Rs 2,327.95 and a low of Rs 2,258 in intraday trade. TCS' consolidated net profit fell 0.03% to Rs 6083 crore on 0.73% growth in revenue to Rs 27364 crore in Q3 December 2015 over Q2 September 2015. The result was announced after market hours yesterday, 12 January 2016.
Commenting on the Q3 performance, Chief Executive Officer and Managing Director, N Chandrasekaran said that all its industry segments have exhibited growth in a traditionally weak quarter additionally accentuated by the impact of the Chennai floods. The company's international business has grown smartly in constant currency terms with North America and Europe leading the way among major markets and Latin America among growth markets.
PSU bank stocks declined. IDBI Bank (down 5.43%), Bank of India (down 4.49%), Bank of Baroda (down 1.71%), Punjab National Bank (down 1.71%), Canara Bank (down 3.76%), Allahabad Bank (down 2.85%), Andhra Bank (down 2.87%), Vijaya Bank (down 1.82%) edged lower. Union Bank of India rose 1.06%.
State Bank of India rose 0.58% to Rs 201, with the stock gaining on bargain hunting after falling 12.21% in preceding seven trading days to Rs 199.85 yesterday, 12 January 2016 from a recent high of Rs 227.65 on 1 January 2016.
Private sector bank stocks were mixed. Yes Bank (up 1.44%), HDFC Bank (up 1%) and ICICI Bank (up 0.49%) rose. Axis Bank (down 0.04%) and Kotak Mahindra Bank (down 0.4%) edged lower.
IndusInd Bank rose 2.59% after the bank announced that it has partnered with online payment solution leader PayU India to redefine the digital experience for Indian consumers, by bringing the full suite of consumer banking products online and powering the same through payment innovations and online eco-systems enabled by PayU India. This partnership is aimed at bridging the gap between conventional banking world and the new age online payment systems, the bank said.
Announcements about the new products and services under the partnership will be made in the next 4-6 months time, the two companies said in a joint press release after hours yesterday, 12 January 2016.
Auto stocks were mixed. Ashok Leyland (down 2.06%), Eicher Motors (down 0.11%), Hero MotoCorp (down 0.02%), TVS Motor Company (down 1.45%) fell. Tata Motors (up 2.37%), Bajaj Auto (up 1.56%), Maruti Suzuki India (up 0.04%) and Mahindra & Mahindra (M&M) (up 1.59%) gained.
Most pharma stocks fell. Aurobindo Pharma (down 1.05%), Wockhardt (down 3.03%), Lupin (down 1.69%), Cadila Healthcare (down 0.05%), Cipla (down 0.6%), Dr Reddy's Laboratories (down 1.09%) declined. Glenmark Pharmaceuticals (up 2.58%), Sun Pharmaceutical Industries (up 1.12%), GlaxoSmithKline Pharmaceuticals (up 0.94%) rose.
Marksans Pharma fell by its maximum permissible daily limit of 20% at Rs 75.80 on reports that the company's Goa plant has got a notice of deficiency from UK Medicines and Healthcare products Regulatory Agency (MHRA). The drug regulator has found violations in goods manufacturing practices (GMP) norms in the Goa plant. The UK drug market contributes 40% to the company's revenue, report added.
Most metal shares declined. Vedanta (down 3.74%), Jindal Steel & Power (down 2.87%), Hindustan Copper (down 2.79%), National Aluminium Company (down 2.64%), Steel Authority of India (down 1.74%), NMDC (down 1.62%), Bhushan Steel (down 1.32%) and JSW Steel (down 0.8%), edged lower. Hindustan Zinc (up 0.18%), Tata Steel (up 0.32%) and Hindalco Industries (up 1.52%) edged higher.
Telecom shares edged lower. MTNL (down 5.05%), Tata Teleservices (Maharashtra) (down 4.65%), Idea Cellular (down 3.35%) and Reliance Communications (down 1.68%) edged lower.
Bharti Airtel fell 1.95% at Rs 309 after the company said that Orange will acquire Bharti Airtel International (Netherlands) BV's subsidiaries in Burkina Faso and Sierra Leone. The announcement was made by the company during market hours today, 13 January 2016. Orange will acquire 100% of the two companies' share capital. The consolidated revenue of the two companies is around 275 million euros. These acquisitions will be implemented in partnership with Orange's subsidiaries in the Côte d'Ivoire and Senegal. The outlay for Orange for these transactions will be based on the financials of Airtel's two subsidiaries for the year ended 31 March 2016 (FY 2016) and will represent the equivalent of 7.9 times Airtel's earnings before interest, taxes, depreciation and amortization (EBITDA) in these two countries at this time. The completion of these transactions remains subject to approval by the competent authorities.
Nilkamal lost 9.22% to Rs 1,403 on profit booking after gaining 12.62% in preceding three trading days to Rs 1,545.55 yesterday, 12 January 2016 from a recent low of Rs 1,372.30 on 7 January 2016.
Redington (India) lost 4.02% to Rs 107.50 after a large bulk deal of 82.13 lakh shares was executed on the scrip at Rs 114.75 at 13:56 IST on BSE today, 13 January 2016.
Key indices snapped two-day losing streak. The Sensex had fallen 252.30 points or 1.01% in the preceding two trading sessions to settle at 24,682.03 yesterday, 12 January 2016, from a recent high of 24,934.33 on 8 January 2016. The Sensex has fallen 1,263.43 points or 4.83% in this month so far (till 13 January 2016). The Sensex is off 5,170.63 points or 17.22% from a record high of 30,024.74 hit on 4 March 2015.
On the macro front, the latest data showed that inflation based on the consumer price index (CPI) accelerated last month. The all-India general consumer price index (CPI) inflation inched up to 5.61% in December 2015 from 5.41% in November 2015. Among the CPI components, inflation of food and beverages increased to 6.3% in December 2015 from 6.1% in November 2015 contributing to the rise in CPI inflation. The core CPI inflation rose to 4.5% in December 2015 from 4.2% in November 2015. The government disclosed the data after market hours yesterday, 12 January 2016.
Another data showed that India's industrial production witnessed a contraction during the festive Diwali month in November 2015 due to high base effect. Industrial Production declined 3.2% in November 2015 over a year ago period. The output of the manufacturing sector declined 4.4% in November 2015, contributing to the decline in industrial production. The government disclosed the data after market hours yesterday, 12 January 2016.
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