Key indices end flat after seeing intraday volatility
Gains for index heavyweight ITC and power sector stocks offset losses for index heavyweights HDFC and Reliance Industries (RIL) and cement stocks, resulting in a flat closing for key benchmark indices. The barometer index, the S&P BSE Sensex, rose 6.44 points or 0.03% to settle at 24,492.39. The 50-unit Nifty 50 index rose 1.60 points or 0.02% to settle at 7,437.75. With minuscule gains, the Sensex and the Nifty, both, attained their highest closing level in almost two weeks.
The two key benchmark indices witnessed intraday volatility as traders rolled over positions in the futures & options (F&O) segment from the near month January 2016 series to February 2016 series. The January 2016 derivatives contracts are set to expire tomorrow, 28 January 2016. Soon after opening with upward gap, key benchmark indices slipped into the red. After hovering near the flat line in mid-morning trade, key benchmark indices moved higher in early afternoon trade as Asian stocks extended gains and as Chinese stocks staged an intraday rebound. Volatility ruled the roost as key benchmark indices regained positive terrain after slipping into the red from green in mid-afternoon trade.
Power Grid Corporation of India surged ahead of its Q3 results. Axis Bank edged lower on reports that the government is looking to sell some of its stake in the private sector bank.
The market breadth indicating the overall health of the market was positive. On BSE, 1,361 shares gained and 1,197 shares fell. A total of 188 shares were unchanged. The BSE Mid-Cap rose 0.3%. The BSE Small-Cap index rose 0.57%. Both these indices outperformed the Sensex.
The total turnover on BSE amounted to Rs 2632 crore, higher than turnover of Rs 2615.35 crore registered during the previous trading session.
The Sensex rose 6.44 points or 0.03% to settle at 24,492.39, its highest closing level since 14 January 2016. The Sensex fell 27.82 points or 0.11% at the day's low of 24,458.13. The barometer index rose 159.75 points or 0.65% at the day's high of 24,645.70.
The Nifty rose 1.60 points or 0.02% to settle at 7,437.75, its highest closing level since 15 January 2016. The Nifty shed 16.45 points or 0.22% at the day's low of 7,419.70. The index rose 41.75 points or 0.56% at the day's high of 7,477.90.
Among sectoral indices on BSE, the S&P BSE Utilities index (up 2.15%), the S&P BSE Power index (up 1.61%), the S&P BSE Telecom index (up 1.12%), the S&P BSE Realty index (up 1.08%), the S&P BSE Healthcare index (up 0.69%), the S&P BSE Basic Materials index (up 0.37%), the S&P BSE Metal index (up 0.34%), the S&P BSE Teck index (up 0.29%), the S&P BSE IT index (up 0.20%), the S&P BSE Auto index (up 0.13%), the S&P BSE Industrials index (up 0.09%) and the S&P BSE FMCG index (up 0.05%), outperformed the Sensex. The S&P BSE Finance index (down 0.08%), the S&P BSE Bankex (down 0.12%), the S&P BSE Consumer Durables index (down 0.19%), the S&P BSE Oil & Gas index (down 0.19%), the S&P BSE Consumer Discretionary Goods & Services index (down 0.21%), the S&P BSE Energy index (down 0.37%) and the S&P BSE Capital Goods index (down 0.69%) underperformed the Sensex.
Index heavyweight and cigarette major ITC rose 1.02% to Rs 312.70. The stock hit a high of Rs 314.20 and low of Rs 307.15 in intraday trade.
Index heavyweight and housing finance major HDFC fell 0.83% to Rs 1,164.35 ahead of its Q3 December 2015 result today, 27 January 2016. The stock hit high of Rs 1,186 and low of Rs 1,160 in intraday trade.
Index heavyweight Reliance Industries (RIL) slipped 0.76% to Rs 997.15. The stock hit high of Rs 1,009.70 and low of Rs 996.15 in intraday trade.
Public sector bank stocks rose. Punjab National Bank (up 2.23%), Bank of Baroda (up 0.54%), State Bank of India (SBI) (up 0.63%), Union Bank of India (up 9.56%) and Canara Bank (up 2.99%) gained. Bank of India slipped 0.3%.
Private sector bank stocks were mixed. Federal Bank (up 0.64%), Yes Bank (up 0.15%), ICICI Bank (up 0.25%) rose. HDFC Bank (down 0.48%), Kotak Mahindra Bank (down 0.78%), and IndusInd Bank (down 0.19%) edged lower.
Axis Bank fell 1.06% on reports that the government is looking to sell some of its stake in the private sector bank. The Government of India (GoI) through the Specified Undertaking of the Unit Trust of India (SUUTI) holds 11.56% stake in Axis Bank.
Shares of power generation and power distribution companies gained. Torrent Power (up 2.43%), NHPC (up 2.84%), Adani Power (up 0.89%), NTPC (up 4.32%), Reliance Infrastructure (up 3.3%) and Reliance Power (up 1.11%) gained. Tata Power Company declined 0.41%.
Power Grid Corporation of India rose 4.32% ahead of its Q3 results today, 27 January 2016.
Coal India lost 0.49% to Rs 303, with the stock sliding on profit booking after a recent rally. Shares of Coal India had surged 5.61% in two trading sessions to settle at Rs 304.50 on Monday, 25 January 2016, from a recent low of Rs 288.30 on 21 January 2016. Meanwhile, the government has reportedly asked Coal India to ensure that it meets the target of 550 million tonnes of coal production for the current financial year.
Bharat Heavy Electricals (Bhel) dropped 4.16% to Rs 139.55. The stock hit high of Rs 146.50 and low of Rs 139.05 in intraday trade.
Cement stocks fell. Ambuja Cements (down 2.08%), ACC (down 1.27%) and Shree Cement (down 1.66%) fell. UltraTech Cement rose 0.12%.
Grasim Industries shed 0.3% at Rs 3,429. Grasim has exposure to the cement sector through its holding in UltraTech Cement.
IT stocks were mixed. Wipro (up 0.68%) and TCS (up 0.83%) edged higher. Tech Mahindra (down 1.76%) and Infosys (down 0.14%) declined.
HCL Technologies slipped 0.44%. The company after market hours on Monday, 25 January 2016, announced the acquisition of Point to Point and Point to Point Products (jointly referred as Point to Point or P2P), UK's leading end-user cloud solutions design, implementation and delivery specialists. As part of the acquisition, HCL will be acquiring 100% outstanding shares of the company. The existing leadership team of P2P will remain in place and no workforce changes are planned. The total cash consideration for this transaction is approximately GBP 8 million, including contingent payments subject to certain financial milestones. P2P had trailing twelve month revenue of approximately GBP 8.5 million as of 31 December 2015. The acquisition will have a simultaneous signing and closing and business folds into HCL immediately on signing of the deal. With over a decade of experience in the desktop and application virtualization space, Point to Point provides a range of enterprise workplace transformation services and end-user cloud engineering solutions. The acquisition enables HCL to take advantage of the rapidly growing virtualization space as there is a Global Shift to Desktop Virtualization. Adding P2P augments HCL's capability in virtualized desktop technologies such as Citrix, Microsoft and Lakeside.
Separately, HCL before market hours today, 27 January 2016, announced the acquisition of 100% stake for Rs 2.35 crore in HCL Training and Staffing Services Private Limited (HCLTSS) which is engaged in the business of rendering of training in the field of IT and ITES. The promoter group holds 100% interest in HCLTSS. For six months ended 31 December 2015, HCLTSS clocked revenue of Rs 17.60 crore.
Pharma stocks were mixed. Alkem Laboratories (down 1.38%), Lupin (down 0.66%), Aurobindo Pharma (down 1.94%), Cipla (down 0.19%), Wockhardt (down 0.23%) and Glenmark Pharmaceuticals (down 2.39%) declined. Sun Pharmaceutical Industries (up 1.51%), Dr Reddy's Laboratories (up 2.24%), Divi's Laboratories (up 5.46%), and Cadila Healthcare (up 0.79%) gained.
NBCC rose 3.56% after the company said it bagged an order worth Rs 2149 crore from India Trade Promotion Organization (ITPO), Department of Commerce, Government of India, for re-development of Pragati Maidan at New Delhi involving construction of Integrated Exhibition cum Convention Centre (IECC). The announcement was made during trading hours today, 27 January 2016.
Hindustan Media Ventures rose 3.95% after net profit rose 28.2% to Rs 46.90 crore on 12.8% growth in revenue to Rs 251.60 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours on Monday, 25 January 2016.
Key indices edged higher for the third day in a row. The Sensex has gained 530.18 points or 2.21% in the preceding three trading sessions from its close of 23,962.21 on 21 January 2016. The Sensex has fallen 1,625.15 points or 6.22% in this month so far (till 27 January 2016). The Sensex is up 652.63 points or 2.73% from a 52-week low of 23,839.76 hit on 20 January 2016. The Sensex is off 5,532.35 points or 18.42% from a record high of 30,024.74 hit on 4 March 2015.
In overseas stock markets, European stocks edged lower as investors remained cautious ahead of the US Federal Reserve's policy statement due later in the global day. Asian stocks edged higher after better-than-expected corporate earnings triggered rally in US stocks overnight. In mainland China, the Shanghai Composite index staged a strong intraday rebound. The index ended with losses of 0.52%. The index dropped as much as 4% earlier in the session. US stocks ended sharply higher yesterday, 26 January 2016, as energy stocks soared amid a rebound in oil prices.
Meanwhile, the Federal Open Market Committee (FOMC) is widely expected to keep US interest rates unchanged after the conclusion of a two-day monetary policy meeting today, 27 January 2016. Investors are awaiting the Fed's policy statement for the US central bank's comments on the oil price collapse and recent global market turmoil and what impact these may have on the Fed's approach to interest rates, which it raised for the first time since 2006 in December 2015.
The two key benchmark indices witnessed intraday volatility as traders rolled over positions in the futures & options (F&O) segment from the near month January 2016 series to February 2016 series. The January 2016 derivatives contracts are set to expire tomorrow, 28 January 2016. Soon after opening with upward gap, key benchmark indices slipped into the red. After hovering near the flat line in mid-morning trade, key benchmark indices moved higher in early afternoon trade as Asian stocks extended gains and as Chinese stocks staged an intraday rebound. Volatility ruled the roost as key benchmark indices regained positive terrain after slipping into the red from green in mid-afternoon trade.
Power Grid Corporation of India surged ahead of its Q3 results. Axis Bank edged lower on reports that the government is looking to sell some of its stake in the private sector bank.
The market breadth indicating the overall health of the market was positive. On BSE, 1,361 shares gained and 1,197 shares fell. A total of 188 shares were unchanged. The BSE Mid-Cap rose 0.3%. The BSE Small-Cap index rose 0.57%. Both these indices outperformed the Sensex.
The total turnover on BSE amounted to Rs 2632 crore, higher than turnover of Rs 2615.35 crore registered during the previous trading session.
The Sensex rose 6.44 points or 0.03% to settle at 24,492.39, its highest closing level since 14 January 2016. The Sensex fell 27.82 points or 0.11% at the day's low of 24,458.13. The barometer index rose 159.75 points or 0.65% at the day's high of 24,645.70.
The Nifty rose 1.60 points or 0.02% to settle at 7,437.75, its highest closing level since 15 January 2016. The Nifty shed 16.45 points or 0.22% at the day's low of 7,419.70. The index rose 41.75 points or 0.56% at the day's high of 7,477.90.
Among sectoral indices on BSE, the S&P BSE Utilities index (up 2.15%), the S&P BSE Power index (up 1.61%), the S&P BSE Telecom index (up 1.12%), the S&P BSE Realty index (up 1.08%), the S&P BSE Healthcare index (up 0.69%), the S&P BSE Basic Materials index (up 0.37%), the S&P BSE Metal index (up 0.34%), the S&P BSE Teck index (up 0.29%), the S&P BSE IT index (up 0.20%), the S&P BSE Auto index (up 0.13%), the S&P BSE Industrials index (up 0.09%) and the S&P BSE FMCG index (up 0.05%), outperformed the Sensex. The S&P BSE Finance index (down 0.08%), the S&P BSE Bankex (down 0.12%), the S&P BSE Consumer Durables index (down 0.19%), the S&P BSE Oil & Gas index (down 0.19%), the S&P BSE Consumer Discretionary Goods & Services index (down 0.21%), the S&P BSE Energy index (down 0.37%) and the S&P BSE Capital Goods index (down 0.69%) underperformed the Sensex.
Index heavyweight and cigarette major ITC rose 1.02% to Rs 312.70. The stock hit a high of Rs 314.20 and low of Rs 307.15 in intraday trade.
Index heavyweight and housing finance major HDFC fell 0.83% to Rs 1,164.35 ahead of its Q3 December 2015 result today, 27 January 2016. The stock hit high of Rs 1,186 and low of Rs 1,160 in intraday trade.
Index heavyweight Reliance Industries (RIL) slipped 0.76% to Rs 997.15. The stock hit high of Rs 1,009.70 and low of Rs 996.15 in intraday trade.
Public sector bank stocks rose. Punjab National Bank (up 2.23%), Bank of Baroda (up 0.54%), State Bank of India (SBI) (up 0.63%), Union Bank of India (up 9.56%) and Canara Bank (up 2.99%) gained. Bank of India slipped 0.3%.
Private sector bank stocks were mixed. Federal Bank (up 0.64%), Yes Bank (up 0.15%), ICICI Bank (up 0.25%) rose. HDFC Bank (down 0.48%), Kotak Mahindra Bank (down 0.78%), and IndusInd Bank (down 0.19%) edged lower.
Axis Bank fell 1.06% on reports that the government is looking to sell some of its stake in the private sector bank. The Government of India (GoI) through the Specified Undertaking of the Unit Trust of India (SUUTI) holds 11.56% stake in Axis Bank.
Shares of power generation and power distribution companies gained. Torrent Power (up 2.43%), NHPC (up 2.84%), Adani Power (up 0.89%), NTPC (up 4.32%), Reliance Infrastructure (up 3.3%) and Reliance Power (up 1.11%) gained. Tata Power Company declined 0.41%.
Power Grid Corporation of India rose 4.32% ahead of its Q3 results today, 27 January 2016.
Coal India lost 0.49% to Rs 303, with the stock sliding on profit booking after a recent rally. Shares of Coal India had surged 5.61% in two trading sessions to settle at Rs 304.50 on Monday, 25 January 2016, from a recent low of Rs 288.30 on 21 January 2016. Meanwhile, the government has reportedly asked Coal India to ensure that it meets the target of 550 million tonnes of coal production for the current financial year.
Bharat Heavy Electricals (Bhel) dropped 4.16% to Rs 139.55. The stock hit high of Rs 146.50 and low of Rs 139.05 in intraday trade.
Cement stocks fell. Ambuja Cements (down 2.08%), ACC (down 1.27%) and Shree Cement (down 1.66%) fell. UltraTech Cement rose 0.12%.
Grasim Industries shed 0.3% at Rs 3,429. Grasim has exposure to the cement sector through its holding in UltraTech Cement.
IT stocks were mixed. Wipro (up 0.68%) and TCS (up 0.83%) edged higher. Tech Mahindra (down 1.76%) and Infosys (down 0.14%) declined.
HCL Technologies slipped 0.44%. The company after market hours on Monday, 25 January 2016, announced the acquisition of Point to Point and Point to Point Products (jointly referred as Point to Point or P2P), UK's leading end-user cloud solutions design, implementation and delivery specialists. As part of the acquisition, HCL will be acquiring 100% outstanding shares of the company. The existing leadership team of P2P will remain in place and no workforce changes are planned. The total cash consideration for this transaction is approximately GBP 8 million, including contingent payments subject to certain financial milestones. P2P had trailing twelve month revenue of approximately GBP 8.5 million as of 31 December 2015. The acquisition will have a simultaneous signing and closing and business folds into HCL immediately on signing of the deal. With over a decade of experience in the desktop and application virtualization space, Point to Point provides a range of enterprise workplace transformation services and end-user cloud engineering solutions. The acquisition enables HCL to take advantage of the rapidly growing virtualization space as there is a Global Shift to Desktop Virtualization. Adding P2P augments HCL's capability in virtualized desktop technologies such as Citrix, Microsoft and Lakeside.
Separately, HCL before market hours today, 27 January 2016, announced the acquisition of 100% stake for Rs 2.35 crore in HCL Training and Staffing Services Private Limited (HCLTSS) which is engaged in the business of rendering of training in the field of IT and ITES. The promoter group holds 100% interest in HCLTSS. For six months ended 31 December 2015, HCLTSS clocked revenue of Rs 17.60 crore.
Pharma stocks were mixed. Alkem Laboratories (down 1.38%), Lupin (down 0.66%), Aurobindo Pharma (down 1.94%), Cipla (down 0.19%), Wockhardt (down 0.23%) and Glenmark Pharmaceuticals (down 2.39%) declined. Sun Pharmaceutical Industries (up 1.51%), Dr Reddy's Laboratories (up 2.24%), Divi's Laboratories (up 5.46%), and Cadila Healthcare (up 0.79%) gained.
NBCC rose 3.56% after the company said it bagged an order worth Rs 2149 crore from India Trade Promotion Organization (ITPO), Department of Commerce, Government of India, for re-development of Pragati Maidan at New Delhi involving construction of Integrated Exhibition cum Convention Centre (IECC). The announcement was made during trading hours today, 27 January 2016.
Hindustan Media Ventures rose 3.95% after net profit rose 28.2% to Rs 46.90 crore on 12.8% growth in revenue to Rs 251.60 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours on Monday, 25 January 2016.
Key indices edged higher for the third day in a row. The Sensex has gained 530.18 points or 2.21% in the preceding three trading sessions from its close of 23,962.21 on 21 January 2016. The Sensex has fallen 1,625.15 points or 6.22% in this month so far (till 27 January 2016). The Sensex is up 652.63 points or 2.73% from a 52-week low of 23,839.76 hit on 20 January 2016. The Sensex is off 5,532.35 points or 18.42% from a record high of 30,024.74 hit on 4 March 2015.
In overseas stock markets, European stocks edged lower as investors remained cautious ahead of the US Federal Reserve's policy statement due later in the global day. Asian stocks edged higher after better-than-expected corporate earnings triggered rally in US stocks overnight. In mainland China, the Shanghai Composite index staged a strong intraday rebound. The index ended with losses of 0.52%. The index dropped as much as 4% earlier in the session. US stocks ended sharply higher yesterday, 26 January 2016, as energy stocks soared amid a rebound in oil prices.
Meanwhile, the Federal Open Market Committee (FOMC) is widely expected to keep US interest rates unchanged after the conclusion of a two-day monetary policy meeting today, 27 January 2016. Investors are awaiting the Fed's policy statement for the US central bank's comments on the oil price collapse and recent global market turmoil and what impact these may have on the Fed's approach to interest rates, which it raised for the first time since 2006 in December 2015.
No comments:
Post a Comment