mid session report: indian equity markets continue to trade with vigor - sharetipsinfo
DESCRIPTION
Indian equity markets continued to trade with vigor in late morning session on emergence of buying by funds and retail investors amid a firming trend in other Asian markets.TRANSCRIPT
SHARETIPSINFO.COM
Sep17th, 2014
MID SESSION REPORT
Major Headlines:
Market Summary:
Microeconomic Front:
Corporate Front:
Currency Updates:
Events for the day:
Global Signals:
Sectoral & Stock Screening:
SHARETIPSINFO.COM
Nifty catch towards 8000; Sensex firm
THE INDIAN MARKETS IS CONTINUES TO FOLLOW TOWARDS 8000 WITH POSITIVE GLOBAL CUES, WIPRO AND INFOSYS AND TCS ARE MAJOR GAINERS TO LEAD THAT OBJECTIVE.
Major headlines:
Mahindra in talks to buy Peugeot’s scooter unit
RBI: No proposal to raise debt limits for foreign investors
Global stocks end higher on bet Fed won’t change rate
stance
INDEX PERFORMANCE
Indices Support Resistance
Sensex 26350 26750
Nifty 7890 8010
Indian Indices: Indian equity markets continued to trade with vigor in late morning session on emergence of buying by funds and retail
investors amid a firming trend in other Asian markets. Sentiment on
the street improved with the report of Department of Industrial Policy
and Promotion that foreign direct investment (FDI) flows into India more than doubled to $3.5 billion in July, compared to FDI worth
$1.65 billion in July 2013. Further more, shares of Ramky
Infrastructure have zoomed over 12% after a report that the Piramal group has emerged as the front runner to purchase its three highway
projects. India’s rupee appreciated by nine paise to 60.96 against the
US dollar in early trade on increased selling of the American
currency by exporters and banks.
The BSE Sensex is currently trading at 26638.51 up by 146.00 points
or 0.55% after trading in a range of 26682.64 and 26511.71. There
were 23 stocks advancing against 7 stocks declining on the index.
The broader indices were trading in green; the BSE Mid cap index
was up by 0.10%, while Small cap index gained 0.26%.
The CNX Nifty is currently trading at 7,978.15 up by 45.25 points or
0.57% after trading in a range of 7,990.65 and 7,936.95. There were
39 stocks advancing against 11 declining on the index.
MARKET INDICATORS
Group A Top Gainers
Company Price (Rs) % chg
National 63.90 5.53
Bajajfinser 1065.00 3.78
ABB 1192.30 3.70
Perstige 234.95 3.66
Group A Top Losers
lRB 240.60 -3.91
Rcom 104.15 -2.57
ColPal 1610.45 -2.31
PFC 243.65 -2.27
Market Statistics
BSE NSE
Advances 1275 814
Declines 1148 510
Market Sentiment:
The market breadth on BSE was positive, out of 2356
stocks traded, 1294 stocks advanced, while 987
stocks declined on the BSE.
Events for the day:
*Adjusted Merchandise Trende Balance (yen) *Merchandise Trade Balance Total (yen)
Results:
Asian Paints |Bayer crop Sci |GE shipping Co | IPO: Issue Opening: Ultracab India, ShemarooEnt
SHARETIPSINFO.COM
Microeconomic Front: China is expected to commit investments worth USD 6.5 billion to set up industrial parks in India and
sign purchase agreements of over USD 3 billion with domestic companies during the visit of Chinese
President Xi Jinping beginning today. Besides, about 16 documents are likely to be signed in areas such
as trade and economic development, drug administration and cooperation, an official said as per the media report. The Chinese President visit would start his three-day official visit from Ahmedabad today.
Corporate Front: RBI Deputy Governor H R Khan said that the central bank is mulling linking the debit card issuances to
the number of point of sale (POS) machines it puts up at merchant establishments. In comments that
came in the midst of a massive account opening campaign launched by banks, Khan said if there is not a commensurate increase in the POS terminals, the usage of cash will grow.
Currency Updates:
Top Currencies Rates based on USD rates:
Currency Unit USD / Unit Unit / USD
USD 1.00000 1.00000
EUR 0.77220 1.29501
GBP 0.61420 1.62813
CAD 1.09698 0.91159
AUD 1.10275 0.90682
JPY 107.254 0.00932
INR 60.9951 0.01639
On the Global Front:
Asian shares rose tracking overnight gains on Wall Street and on speculation the Federal Reserve would maintain a pledge on low rates when a two-day
policy meeting ends later in the session. Back home,
India’s rupee appreciated by nine paise to 60.96 against the US dollar in early trade on increased
selling of the American currency by exporters and
banks.
Asian markets were trading mostly in the green;
Straits Times up by 0.47%, Nikkei 225 rose by 0.05 %, Jakarta Composite surged by 1.26%, Shanghai
Composite up by 0.18%, Hang Seng gained by
1.07%, KOSPI Index jumped by 0.68% and Taiwan Weighted was up by 0.72%. On the flip side, FTSE
Bursa Malaysia KLCI declined by 0.20%.
Nifty Movers:
The top gainers on Nifty were NMDC up by 2.31%,
Cairn India up by 1.88%, Tata Power up by 1.74%, TCS up by 1.53% and Mahindra & Mahindra up by
1.50%. On the flip side, Jindal Steel & Power down
by 1.79%, Cipla down by 1.14%, Sesa Sterlite down by 1.03%, Tata Motors down by 0.63% and Power
Grid down by 0.51% were the top losers.
Top Sectoral & Stock Screening:
The gaining sectoral indices on the BSE were IT up by 1.05%, TECK up by 0.90%, Realty up by 0.56%,
FMCG up by 0.47% and Oil & Gas up by 0.37%, while Infrastructure down by 0.17% and Capital
Goods down by 0.03% were the losing indices on
BSE.