Tag: asian market

Indian equity markets witnessed a smart bounce-back of around a percent and half on Tuesday after four straight sessions of fall, which lifted both Sensex and Nifty above the psychologically crucial 25,350 and 7,550 levels respectively. Bargain-buying activities by market-participants in fundamentally strong blue chip stocks available at attractive valuations after four straight sessions’ of plunge, mainly soothed the sentiment at Dalal Street amidst lower Brent crude prices which whetted the risk appetite of investors for emerging markets assets. In the extremely rock-solid session of trade, wherein benchmarks traded from strength to strength and ended near day’s high point by close of trade, volatility factor, which is peculiar feature in F&O expiry week, remained absent. In the extremely stable session of trade, broader indices too rallied over 1.5%.

Closer home, sentiments also got a lift after shares of ITC made a smart comeback on Tuesday post sharp selloff witnessed in previous session, triggered by media reports suggesting steep increase in tax on cigarettes. Nevertheless, amidst broad-based buying, all the sector indices on BSE ended in positive territory, with only exceptions being stocks from defensive Healthcare counter which were beaten blue in trade. On the flip side, massive buying was witnessed in stocks of Realty counter, followed by Consumer Durables and Oil & Gas counters. Oil marketing companies stocks, vis-à-vis, BPCL, HPCL and IOC, witnessed strong demand after Brent crude fell below $114 a barrel on Tuesday, with data showing near-record high oil exports from Iraq indicated supplies remained unaffected by the escalating violence at OPEC’s No. 2 producer. Additionally, banking stocks too were on buyer’s radar as concerns of fuel price led inflation eased along with decline in crude oil prices.  Besides, sugar stocks too extended gains as sentiment turned positive following the government’s decision to hike import duty on sugar. To tackle the rising crude oil prices, the Food Minister announced that ethanol blending with petrol will be increased to 10% from 5%. Moreover, shares of local tyre companies continued their dream run in trade on Tuesday with CEAT and JK Tyres hitting yet another 52-week high in intra-day trade.  The market breadth on the BSE ended positive; advances and declining stocks were in a ratio of 2038: 993, while 117 scrips remained unchanged. (Provisional)

The BSE Sensex surged 337.58 points or 1.35% to settle at 25368.90. The index touched a high and a low of 25414.69 and 25115.83 respectively. Among the 30-share Sensex, 26 stocks gained, while 4 stocks declined. (Provisional)

The BSE Mid cap and Small cap indices ended higher by 1.59% and 1.64% respectively. (Provisional)

On the BSE sectoral front, Realty up by 1.57%, Consumer Durables up by 2.44%, Oil & Gas up by 2.17%, Infrastructure up by 2.05% and PSU up by 2.04% were the gainers while, Healthcare down by 0.09% was the lone loser in the space. (Provisional)

The top gainers on the Sensex were GAIL up 4.56%, HDFC up by 2.81%, BHEL up by 2.48%, SBI up by 2.24% and Axis Bank up by 2.19%. On the flip side, the key losers were Sun Pharma down by 0.96%, Infosys down by 0.64%, Hindustan Unilever down by 0.02% and Wipro down by 0.01%. (Provisional)

Meanwhile, in order to curb the inflow of cheaper sweetener, the government has decided to hike the import duty on sugar to 40 percent from the current 15 percent. The move is likely to increase the sugar prices up to Rs 60 per quintal in the country. Besides, the government will provide additional interest-free loan of Rs 4,400 crore to cash-starved sugar mills to make payments to cane farmers. The decision was taken after a high-level meeting attended by various ministers including Food Minister Ram Vilas Paswan and Commerce & Industries Minister Nirmala Sitharaman among others.

Food Minister Ram Vilas Paswan also announced that the subsidy on raw sugar exports would be extended till September 2014. Furthermore, mandatory blending of ethanol (a by-product of sugar) with petrol was also enhanced to 10 percent as against 5 percent at present. However, Food Minister cleared that all these decisions were subject to the sugar industry’s guarantee that it would clear all arrears estimated at around Rs11,000 crore. The government’s latest decision is likely to provide impetus to Indian sugar industry through making imports costlier and improving the liquidity of sugar mills.

India, the second largest producer of sugarcane after Brazil, holds about 5 million hectares of land under sugarcane with an average yield of around 70 tonne per hectare. India produced 25.14 million tonnes of sugar in the crop season ended September 30, 2013, almost 4.5% less than the previous year’s because of low rainfall in Maharashtra, Karnataka and Tamil Nadu in 2012. The Indian Sugar Mills Association (ISMA) has estimated Indian sugar production at 24 million tonnes for 2013-14.

India VIX, a gauge for markets short term expectation rose 1.18% at 19.18 from its previous close of 18.96 on Monday. (Provisional)

The CNX Nifty gained 86.85 points or 1.16% to settle at 7,580.20. The index touched high and low of 7,593.35 and 7,515.20 respectively. Out of 50 stocks in Nifty, 39 stocks ended in the green and 11 in red. (Provisional)

The major gainers of the Nifty were GAIL up 4.75%, BPCL up by 4.70%, DLF up by 4.70%, Bank of Baroda up by 3.22% and NMDC up by 3.20%. On the flip side, the key losers were Kotak Bank down by 1.74%, Sun Pharma down by 1.14%, Infosys down by 0.82%, Ultratech Cement down by 0.67% and Tech Mahindra down by 0.51%. (Provisional)

On the global front, Asian shares ticked higher on Tuesday as improved manufacturing data from China, Japan and the United States augured well for global growth, despite a disappointing result from the euro zone. Additionally, European shares rose on Tuesday, buoyed by new signs of corporate takeover activity, with agrochemicals company, Syngenta surging on a media report that peer Monsanto had considered buying it.

European markets were mostly trading in red; UK’s FTSE 100 down by 0.31%, Germany’s DAX down by 0.07%, while France’s CAC 40 was up by 0.16%.

Asian Indices Last Trade Change in Points Change in %
Shanghai Composite 2033.93 9.57 0.47
Hang Seng 22880.64 75.83 0.33
Jakarta Composite 4862.24 20.11 0.42
KLSE Composite 1892.33 8.37 0.44
Nikkei 225 15376.24 6.96 0.05
Straits Times  3262.03 4.63 0.14
KOSPI Composite 1994.35 19.43 0.98
Taiwan Weighted 9246.20 17.85 0.19

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Monday’s session largely turned out to be disappointing for Dalal Street, which for four straight sessions in row registered losses on the back of heavy drubbing in select blue chip stocks, like ITC, HUL and Infosys that arrested any kind of uptrend at the start of F&O expiry week. Among the blue-chip stocks, ITC collapsed close to 6% on worries the government may raise taxes on cigarettes aggressively in the upcoming budget in July, Infosys was beaten down by close to 3%. Nevertheless, buying witnessed in last hour of trade minimized some losses on the bourses. By close of trade, while Sensex managed to shut-shop above the crucial 25,000 mark, with loss of over quarter of a percent, Nifty just ended shy off the psychological 7,500 level. However, broader indices outperformed larger peers with fat margins to end with gains of over 0.50%-0.65%. Nevertheless, prevailing positive sentiment after a steep hike in railway passenger and freight fares, which was seen as possibly the first installment of the “tough measures” Prime Minister Narendra Modi had hinted at as necessary to revive the Indian economy, prevented any sharp slide.

On the global front, erasing early gains, Asia pacific shares ended mostly in green. These shares were up in early deals on upbeat news from China’s factory sector which fuelled appetite for riskier assets mainly arrested. HSBC/Markit’s preliminary Chinese manufacturing survey reached a seven-month high of 50.8 for June, exceeding the 49.7 street and a final reading of 49.4 in May. Additionally, European shares fell early on Monday as downbeat readings of euro zone business activity revived worries over the pace of the economic recovery in the single currency bloc. Dampening expectations for a rebound in the euro zone’s second-biggest economy, data compiler Markit said its composite purchasing managers index (PMI) of activity in France’s manufacturing and services sectors slipped deeper into contraction territory in May.

Closer home, majority of the sectoral indices on BSE settled into positive territory despite sluggish session of performance. However, stocks from Fast Moving Consumer Goods, Information Technology and Consumer Durables counters turned out to be exceptions. On the flip side, stocks from PSU, Oil & Gas and Metal counters were the top gainers of the session. Metal shares gained on hopes of better demand after a preliminary HSBC survey showed activity in China’s factory sector expanded in June for the first time in six months as new orders surged. In non-sectoral guage activity, sugar stocks were flavour of the session, with all stocks from Shree Renuka Sugars, Bajaj Hindustan, Balrampur Chini Mills, Triveni Engineering and Industries, Dhampur Sugar Mills and Oudh Sugar Mills registering gains of over 10% in otherwise subdued market after the government announced various measures to help the sector. In a sweet development for the sector, agriculture Minster Ram Vilas Paswan said the import duty on sugar has been increased to 40 per cent from 15 per cent earlier. He also underscored that the government will increase ethanol blending with petrol to 10 per cent from current 5 per cent.

Meanwhile, In a bitter medicine, which was necessitated to set right the faltering finances of the railways that were aggravated by UPA’s mismanagement of the economy, Modi led government approved a steep hike in the train fares and freight rates. With this, fares of all classes would be hiked by 14.20%, while the freight rates would go up by 6.50%, effective from June 25. Of the total, as much as 4.20% of the fare hike is on account of a variable Fuel Adjustment Component (FAC) approved in last year’s rail budget, remaining 10% is a flat hike across all classes. Similarly, freight rates too have 5% flat hike over and above a 1.4% of the FAC.

Further, this decision would help Indian Railways to mop up an additional Rs 8,000 crore in the financial year. In present scenario, Railways’ subsidy to passenger operations had touched Rs 26,000 crore and its ordinary working expenses have been mounting on account of fuel bill and salary.

However, Railway Minister Sadananda Gowda had sought Modii’s approval to roll out the unpopular move barely a couple of weeks before the government’s first rail budget. Gowda had also made a case for the hike to Finance Minister Arun Jaitley earlier this week.

This move besides being unpopular also was tricky one for Sadananda Gowda as the previous government prevented the proposal of this very hike to be rolled out on May 16, the day of the election results that brought in the regime change. The expected mop-up of around Rs 10,000 crore had already been factored in the interim budget passed in Parliament before elections. This was perhaps the reason behind the automatic hike that was taken by the Railways on May 16, but the same had be quickly withdrawn on account of former Railway Minister Mallikarjun Kharge’s objection.

European markets were trading in red; UK’s FTSE 100 down by 0.21%, Germany’s DAX down by 0.35% and France’s CAC 40 was down by 0.33%.

The Asian markets concluded Friday’s trade mostly in red, with Nikkei ending slightly lower as investors tended to lock in gains from recent surges, despite optimism over the global economy. Moody’s Investors Service stated that the prolonged effects of China’s property market slowdown could hurt economic growth, but reforms to balance the economy will offset the negative impact. China’s gross domestic product growth may slow to 5-6 percent from 7-7.5 percent this year if property sales and building construction both fall by 10%. Indonesia’s outgoing finance minister stated that the next president will need to discard election rhetoric and focus on raising fuel prices and luring foreign investment to address the budget and current- account deficits. Southeast Asia’s biggest economy is struggling to contain a persistent current-account deficit that helped make the rupiah Asia’s worst performer last year, while ballooning fuel subsidy costs have increased the 2014 budget shortfall and forced a reduction in state spending. Japan’s All Industries Activity Index fell to a seasonally adjusted -4.3%, from 1.5% in the preceding month.

Asian Indices Last Trade Change in Points Change in %
Shanghai Composite 2026.67 2.94 0.15
Hang Seng 23194.06 26.33 0.11
Jakarta Composite 4847.70 -16.57 -0.34
KLSE Composite 1885.72 4.24 0.23
Nikkei 225 15349.42 -11.74 -0.08
Straits Times  3258.80 -10.22 -0.31
KOSPI Composite 1968.07 -23.96 -1.20
Taiwan Weighted 9273.79 -43.02 -0.46

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Indian equity benchmarks trimmed their gains but continued to trade in green in the late afternoon session in absence of any positive upside trigger. Investors have started taking cautious approach ahead of Q4GDP data and RBI’s monetary policy review scheduled on Tuesday for outlook on inflation and expectations on the new government’s budget. Traders were seen piling up positions in Realty, HealthCare and FMCG stocks, while selling was witnessed in Bankex, Auto and Consumer Durables sector stocks.  Hectic activity was witnessed in defence related stocks on Union Government’s decision to allow 100% Foreign Direct Investment (FDI) in defence sector. In scrip specific development, DLF, India’s largest realty company, was trading in green after posting a net profit of Rs 410 crore for the quarter ended March 31, 2014 compared to Rs 196 crore in the year-ago period, while Jammu & Kashmir Bank was trading weak on media reports indicating that the bank has undisclosed amount of Rs 2,500 crore as stressed loan.

On the global front, the Asian markets were trading mostly in red, while the European markets too traded mostly on pessimistic note. Back home, the NSE Nifty and BSE Sensex were trading above their psychological 7,200 and 24,200 levels respectively. The market breadth on BSE was positive in the ratio of 1570:1275 while 108 scrips remained unchanged.

The BSE Sensex is currently trading at 24241.10, up by 6.95 points or 0.03% after trading in a range of 24,353.59 and 24167.94. There were 19 stocks advancing against 11 stocks declining on the index.

The broader indices were trading higher; the BSE Mid cap index was up by 0.46%, while Small cap index up by 0.62%.

The gaining sectoral indices on the BSE were Realty up by 2.05%, HealthCare up by 1.48%, FMCG up by 1.10%, Metal up 0.84% and Power up 0.79%. While, Bankex down by 0.94%, Auto down by 0.51% and Consumer Durables down by 0.50% were the losing indices on BSE.

The top gainers on the Sensex were Hindustan Unilever up by 4.94%, NTPC up by 2.79%, ONGC up by 2.46%, Cipla up by 2.17% and Tata Steel up by 1.84%.

On the flip side, HDFC down by 2.38%, SBI down by 1.85%, HDFC Bank down by 1.12%, Tata Motors down by 1.12% and Axis Bank down by 0.89%.

Meanwhile, Prime Minister Narendra Modi has unveiled a 10-point agenda for good governance. Assigning maximum importance to bureaucratic empowerment and good governance, Prime Minister told ministers to prepare a detailed action plan for the first 100 days in office and resolve all issues left pending by the previous government on a priority basis.

Ministries should give focus on delivery and implementation and agenda for governance should be embedded into day-to-day functioning and policy making, he added. Prime Minister’s latest agenda for good governance highlighted 10-point framework include build up confidence in bureaucracy, give priority to education, health, water and power, mechanism for inter-ministerial issues, addressing concerns about economy, stability and sustainability in government policy, give bureaucrats independence to work without pressure, transparency in governance, infrastructure development, implement policy in time bound manner and people orientated system for better addressing people’s problems.

Narendra Modi has also reiterated the importance of dealing with states’ problems on a priority basis and told cabinet ministers to share their workload with junior ministers such as state ministries. In order to strengthen the federal structure, there is a need to take the states along with the Centre, he added. Prime Minister has started the process of scrutinizing bills which have lapsed in the Lok Sabha and Rajya Sabha and need to be revived.

The CNX Nifty is currently trading at 7,239.30, up by 3.65 points or 0.05% after trading in a range of 7,272.50 and 7,118.45. There were 30 stocks advancing against 19 declining while 1 stock remained unchanged on the index.

The top gainers of the Nifty were HUL up by 5.19%, NTPC up by 3.02%, ONGC up by 2.50%, DLF up by 2.40% and Tech Mahindra up by 2.30%.

On the flip side, HDFC down by 2.76%, SBI down by 1.92%, Tata Motors down by 1.25%, HDFC Bank down by 1.23% and ACC down by 1.20% were the major losers on the index.

Asian equity indices were mostly in red; Shanghai Composite down by 0.07%, Jakarta Index declined 0.97%, Straits Times down by 0.02%, Nikkei 225 descended by 0.34% and Taiwan Weighted slid 0.36% while, Hang Seng advanced 0.31%.

The European markets were trading mostly in red, with France’s CAC 40 was down by 0.47% and UK’s FTSE 100 lost 0.17% while, Germany’s DAX was up by 0.09%.

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24th May 2014, Wednesday turned out to be another session of consolidation for Indian equity markets, which in absence of any fresh triggers, failed to make headway into positive territory. While, there was some caution ahead of the expiry of May derivative contracts on Thursday. Nevertheless, sentiment to some extent took a hit after overseas investors for three consecutive session sold shares worth Rs 203 crore on Tuesday, while anticipation of Jan-March GDP to confirm economy confirming slow-down, too added to the cautious undertone of the markets. Q4 GDP It data is set to be unveiled on May 31, Friday. Further, a report called India’s new ministers ‘underwhelming,’ saying no professionals were brought in for ministries targeted for reforms, such as railways and coal, too limited the uptrend of the markets.

Volatility on penultimate session of F&O expiry mainly took Nifty higher by quarter of a percent and above the crucial 7300 level by close of trade, however Sensex ended the session flat at 24,550 level. Meanwhile, broader indices underperforming larger peers by fat margins, ended with gains in the range of 0.40-1.65%.

On the global front, Strong economic data in the United States shored up Asian stocks to one-year highs on Wednesday. Riskier asset markets sped up overnight after the United States reported an unexpected rise in durable goods orders in April and higher home prices for March. Services industries, which dominate the economy, also grew at a rapid clip in May. Meanwhile, European stocks were little changed, trading near their highest level since January 2008, as GlaxoSmithKline Plc retreated after becoming the subject of a criminal investigation.

Closer home, gains in stocks from Information Technology, Realty and Technology counters were counterbalanced by losses in stocks from Metal, PSU and Consumer Durables counters. IT stocks featured in the list of top gainers for yet another session on good US economic data and Rupee’s depreciation. Meanwhile, in non sectoral gauge activity, cement stocks also witnessed buying interest amid long built-up in these stocks ahead of expiry of May derivative contracts. UltraTech, Ambuja and ACC all rallied over 4%. Besides, fertilizer stocks, namely Chambal fertilizers, National fertilizers, Zuari Agro gained after Fertilizer Minister underscored that government will take steps to revive closed urea plants. Meanwhile, airline stocks, namely Spicejet and Jet Air India too witnessed drubbing after the latter posted a record 8% quarterly loss partly as a result of higher jet fuel expenses and a one-time charge on a unit.

The BSE Sensex is currently trading at 24556.09, up by 6.58 points or 0.03% after trading in a range of 24643.33 and 24488.81. 16 stocks advanced against 14 stocks declining on the index. (Provisional)

The broader indices outperformed larger peers; the BSE Mid cap and Smallcap index settled higher by 0.40% and 1.63% respectively. (Provisional)

The gaining sectoral indices on the BSE were IT up by 1.52%, TECK up by 1.42%, Realty up by 1.40%, Bankex up by 0.56% and Capital Goods up by 0.45%. While, Metal down by 1.62%, PSU down by 1.20%, Consumer Durables down by 0.99%, Oil & Gas down by 0.88% and Auto down by 0.75% were the losing indices on BSE.    (Provisional)

The top gainers on the Sensex were Tata Power up by 3.40%, HDFC Bank up by 2.16%, Hero Motocorp up by 2.11%, Bharti Airtel up by 1.73% and Dr. Reddy’s Lab up by 1.67%. On the flip side, Coal India down by 3.43%, ONGC down by 3.17%, M&M down by 2.85% Gail India down by 2.01% and NTPC down by 1.75%.(Provisional)

Meanwhile, with a view to provide importers with greater flexibility in hedging facility, the Reserve Bank of India (RBI) has decided to allow domestic importers to book forward contracts up to 50 percent of the eligible limit under the past performance route. As per the present guidelines relating to hedging of currency risk of probable exposures based on past performance, Indian importers are allowed to book contracts up to 25 percent of the eligible limit.

The RBI further notified that importers who have already booked contracts up to previous limit of 25 percent in the current financial year, will be eligible for difference arising out of the enhanced limits. The eligible limit is determined on the basis of average of the previous three financial years’ import turnover or the previous year’s actual import turnover, whichever is higher.

The RBI’s latest move is likely to provide some relief to importers as the depreciation in rupee value increases the imports costs. During the FY14, India’s overall imports declined by 8.11% to $450.95 billion as against $490.74 billion reported in the same period of previous fiscal year. Contraction in domestic imports during FY14 was mainly driven by weak domestic demand and lower gold imports.

The CNX Nifty settled at 7,335.30, up by 17.30 points or 0.24% after trading in a range of 7,344.75 and 7,302.60. 28 stocks advanced against 22 declines on the index. (Provisional)

India VIX, a gauge for markets short term expectation lost 8.07% at 17.55 from its previous close of 19.10on Monday. (Provisional)

The top gainers of the Nifty were Ultratech Cement up by 5.67%, Ambuja Cement up by 5.49%, Tata Power up by 4.71%, ACC up by 4.32% and HCL Technologies up by 4.15%. On the flip side, Coal India down by 3.07%, ONGC down by 3.00%, Asian Paints down by 2.86%, M&M down by 2.71% and Jindal Steel down by 2.51% were the major losers on the index. (Provisional)

The European markets were trading mostly in green, with France’s CAC 40 up by 0.13% and UK’s FTSE 100 gained 0.05%, while Germany’s DAX added 0.13% (Provisional)

The Asian markets concluded Wednesday’s trade mostly in green. Details are below :

Asian Indices

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Shanghai Composite




Hang Seng




Jakarta Composite




KLSE Composite




Nikkei 225




Straits Times




KOSPI Composite




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Indian equity benchmarks, recovering entire early losses, staged a smart comeback in the last leg of trade on Thursday and ended the session at their fresh record closing high levels, on hopes of BJP-led NDA winning the general elections. Earlier, key benchmark indices alternately swung between positive and negative terrain as investors remained cautious ahead of final results of elections on May 16, while markets seem to have more or less priced in the exit poll prediction of a majority for the BJP-led National Democratic Alliance (NDA) in the Lok Sabha.

But, volatility ruled the roost in dying hours of trade with the frontline gauges witnessing a sharp jump as sentiments remained up-beat after the annual rate of inflation, based on monthly WPI, easing at 5.20% in month of April, 2014, as compared to 5.70% for the March and 4.77% during the corresponding month of the previous year, as all three major components of the index – food, fuel and manufactured goods – recorded moderation in prices. However, February inflation figures were revised upwards to 5.03% against 4.68% earlier. Some support also came in to the markets after India Meteorological Department (IMD) has predicted that the conditions for the advancement of South west monsoon are favourable and it will be hitting Andamans much earlier than expected.

On the global front, Asian markets reversed most of the early losses and ended mostly in the green. Though, Japanese Nikkei witnessed profit taking while a stronger yen weighed on market sentiment. European shares were trading marginally lower in early deals with investors shrugging off Germany’s robust economic growth during the first quarter.

Back home, buying which emerged in late trade mainly helped the domestic equity markets to re-conquer their crucial 7,100 (Nifty) and 23,900 (Sensex) bastions. Some support came in from currency front, where the rupee firmed up against the dollar and was quoting at Rs 59.30 at the time of equity markets closing as compared to Tuesday’s close of Rs 59.68 on the back of strong inflows in the domestic equity market.

Meanwhile, recovery in banking counter too supported the sentiments, stocks like HDFC Bank, Axis Bank, Kotak Mahindra Bank, Yes Bank etc. edged higher after the RBI panel had recommended a one-licence policy for all banks, irrespective of the ownership pattern. Power stocks too traded with traction as the Centre has announced a nine-member panel, which will identify more blocks, in addition to already selected 54 mines, for sale through competitive bidding to expedite coal auction process. Additionally, tyre stocks too remained on buyers’ radar after Apollo Tyres reported better-than-expected Q4 numbers. The company’s fourth quarter consolidated net profit doubled to Rs 281.6 crore from Rs 141.7 crore in same quarter last year on strong growth in Europe business and strong operational performance.

The NSE’s 50-share broadly followed index Nifty surged by over twenty points to end comfortably above its psychological 7,100 support level, while Bombay Stock Exchange’s Sensitive Index — Sensex surged over ninety points to surpass the psychological 23,900 mark. However, broader markets struggled to get any traction during the session and ended the trade with a cut of around a percent. The market breadth remained in favour of decliners, as there were 1,156 shares on the gaining side against 1,743 shares on the losing side while 136 shares remain unchanged.

Finally, the BSE Sensex gained 90.48 points or 0.38%, to 23905.60, while the CNX Nifty was up by 14.40 points or 0.20%, to 7,123.15.

The BSE Sensex touched a high and a low of 23971.78 and 23742.75, respectively. The BSE Mid cap index was down by 0.83%, while the Small cap index lost 0.86%.

The top gainers on the Sensex were Tata Power up by 3.07%, NTPC up by 2.95%, ONGC up by 2.56%, Gail India up by 2.16% and Hindustan Unilever up by 2.08%. While Bajaj Auto down by 4.28%, Hindalco Inds down by 1.98%, SSLT down by 1.88%, Wipro down by 1.50% and Dr Reddys Lab down by 1.46% were the top losers in the index.

On the BSE Sectoral front, Consumer Durables up by 1.52%, Power up by 0.97%, Oil & Gas up by 0.95%, PSU up by 0.42% and FMCG up by 0.29% were the top gainers, while Realty down by 1.11%, Capital Goods down by 0.90%, Metal down by 0.71%, Teck down by 0.49% and Auto down by 0.46% were the top losers in the space.

Meanwhile, in order to promote the growth and global competitiveness of the IT industry, the National Association of Software and Services Companies (NASSCOM) has prepared a five-point agenda for the new Government formed on May 16. The NASSCOM’ s report suggested five measures including enabling innovation and support entrepreneurship, making the domestic investment easier and simpler, building new markets to promote the growth and global competitiveness of the IT industry, expanding existing markets and focusing on skill development.

The NASSCOM President R Chandrashekhar said that new government can use the strength of the Indian IT industry to achieve the development agenda within the country. Indian IT sector has grown in size and now has a global footprint and there is an opportunity for new government to expand sector’s global footprint, which in turn will also contribute to the domestic transformation and developmental agenda. He added that the new Government needs to ensure that the rules for opening and operating the small business are far simpler than earlier and should take measures for funding the start-ups, and connecting them with academics and research and development.

Information Technology (IT) has emerged as an industry that has not only transformed India’s image on the global platform, but also fuelled economic growth. Present, market size of Indian IT industry stand at around $50 billion and its contribution to Indian GDP has increased from just 1.2 percent in 90’s to around 8 percent in 2013. India is the only country that covers a wide range of segments of this industry such as IT Services, BPM, Engineering & R&D, Internet & Mobility and Software Products. Currently, the US, UK and other European markets contribute to around 90% of the total business of Indian IT sector.

The CNX Nifty touched a high and low of 7,152.55 and 7,082.55 respectively.

The top gainers of the Nifty were ONGC up by 3.36%, Tata Power Company up by 2.65%, GAIL (India) up by 2.59%, Power Grid Corporation of India up by 2.54% and NTPC up by 2.39%. On the other hand, Asian Paints down by 5.73%, Bajaj Auto down by 4.30%, Bank of Baroda down by 3.88%, NMDC down by 3.33% and United Spirits down by 2.43% were the top losers.

Most of the European markets were trading in red, France’s CAC 40 was down by 0.24% and Germany’s DAX was down by 0.04% while, United Kingdom’s FTSE 100 was up by 0.05%.

Asian Indices

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Shanghai Composite




Hang Seng




Jakarta Composite

KLSE Composite




Nikkei 225




Straits Times




KOSPI Composite




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Thursday’s session turned out to be of consolidation as local equity markets took a breather after last three trading sessions ferocious bull-run, which took markets scaling fresh life time high levels with each passing session. Market-participants’ hesitation in initiating fresh bets ahead of the elections’ final result on May 16 combined with record high levels which enticed traders to cash in their profit, mainly led to down session of trade at Dalal Street, which dragged Sensex lower over quarter of a percent and Nifty marginally below the neutral line. However, losses to some extent were capped by the recovery that took place in the late hours of trade. On the political front, most exit polls predicted that Narenda Modi and his alliance will secure a simple majority in India’s legislature, or 272 of parliament’s 543 seats. Notably, the session clearly belonged to broader indices, which for yet another session accumulated massive gains of over a percent.

On the global front, Asian stocks rose amid speculation that China will do more to support the property market, however gains were capped as investors continued to monitor the ongoing crisis in the Ukraine, where pro-Russian separatists ambushed Ukrainian troops on Tuesday, killing seven. On the flip side, European shares eased from multi-year highs on Wednesday and the euro licked its wounds after slumping to a five-week low as the focus shifted to an economic outlook from the Bank of England for clues on when UK interest rates will rise.

Closer home, despite being the lackluster session of trade, majority of the sectoral indices settled into positive terrain, with the prominent gainers being the stocks from Realty, Metal and Consumer Durable counters. On the flip side, much of profit-booking was witnessed in stocks from Oil & Gas counter, followed by Capital Goods and Information Technology counters that ended with cut of over 0.25%. On the gainers’ side, state-run banks gained after a committee appointed by Reserve Bank of India (RBI) proposed on Tuesday the Indian government should cut its stakes in state banks to below 50%. Besides, steel stocks witnessed massive demand, with all JSW Steel, Steel Authority of India (SAIL), and Jindal Steel & Power gaining in the range of 1.5%-6%. The market breadth on the BSE ended positive; advances and declining stocks were in a ratio of 1689: 1222, while 131 scrips remained unchanged. (Provisional)

The BSE Sensex soared 56.11 points or 0.24% to settle at 23815.12. The index touched a high and a low of 23964.67and 23753.36 respectively. Among the 30-share Sensex, 15 stocks gained, while 15 stocks declined. (Provisional)

The broader indices too shut shop with massive gains; while BSE Mid cap index ended higher by 1.12%, Small cap index settled with gains of 1.24%.(Provisional)

On the BSE Sectoral front, Realty up by 4.32%, Metal up by 3.22%, Consumer Durables up by 2.28% , PSU up by 1.84% and Power up by 0.83% were the gainers while, Oil & Gas down by 0.78%, Capital Goods down by 0.36%, IT down by 0.31% , Health Care down by 0.30% and Auto down by 0.03%  were the losers in the space. (Provisional)

The top gainers on the Sensex were Tata Steel up by 6.11%, Coal India up by 3.29%, Bajaj Auto up by 2.77%, SSLT up by 2.62% and NTPC up by 2.36% while, Mahindra & Mahindra down by 3.34%, Dr Reddys Lab down by 3.24%, HDFC down by 2.04%, RIL down by 1.59% and BHEL down by 1.51% were the top losers in the index (Provisional).

India currently is the fourth largest oil consumer in the world behind the US, China and Japan, and imports around 80 percent of its oil needs. In the previous year 2013, India had overtaken Japan as the world’s third-biggest crude oil importer. It imported 3.86 million bpd of crude oil in 2013, nearly 6 percent higher than Japan’s customs-cleared imports of 3,648,372 bpd. The US EIA report estimates that India will become the world’s largest oil importer by 2020. Meanwhile, the Government of India (GoI) has formulated a roadmap for cutting India’s dependence on imports to meet its oil needs. The Government wants country’s oil imports dependence to be cut to 50 percent by 2020 and by 25 percent in 2025 through intensive exploration and exploitation of untapped reserves. Presently, only 0.93 million sq km area in India is held under exploration and production in 19 basins as compared to total estimated sedimentary area of 3.14 million square kilometres, comprising 26 sedimentary basins.

India VIX, a gauge for markets short term expectation gained 1.16% at 32.42 from its previous close of 32.06 on Tuesday. (Provisional)

The CNX Nifty ended flat at 7,108.40. The index touched high and low of 7,142.25 and 7,080.90 respectively. Out of 50 stocks in Nifty, 30 stocks ended in the green and 20 in red.

The major gainers of the Nifty were Bank Baroda up 9.60%, Jindal Steel up by 5.95%, Tata Steel up by 5.95% , DLF up by 5.45% and NMDC up by 5.07%.  On the flip side, the key losers were M&M down by 3.67%, DR Reddy down by 3.48%, HDFC down by 1.91%, Reliance down by 1.74% and HDFC Bank down by 1.71%. (Provisional)

European markets were trading in red; France’s CAC 40 was down by 0.15%, UK’s FTSE 100 was down by 0.02% and Germany’s DAX was down by 0.06%.

The Asian markets concluded Wednesday’s trade mostly in green, following a record close for the Dow and S&P 500 on Wall Street. Southeast Asian currencies rallied as US economic data that trailed estimates weakened the greenback, and political developments in Indonesia spurred the rupiah to its biggest gain since March. A set of unexpectedly weak activity data for April pointed toward a stalling economic recovery in China, reviving expectations that the government will continue policies aimed at nurturing growth. New home sales in China declined at a faster rate in the first four months of this year, by both value and volume, as the lack of enthusiasm among homebuyers continued. The value of new homes sold across the country dropped 9.9% from the same period a year earlier to 1.53 trillion yuan ($246 billion) during the January-April period. In the first quarter, the value fell 7.7% year on year. Japan’s Corporate Goods Price Index rose to a seasonally adjusted annual rate of 4.1%, from 1.7% in the preceding month. South Korean Unemployment Rate rose to a seasonally adjusted annual rate of 3.7%, from 3.5% in the preceding month.

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Extending their gaining streak for the fourth straight session, Indian equity markets scaled fresh all time closing high levels, as exit polls predicted that the Modi-led NDA is set to cross the magic figure of 272 in the just-concluded elections. Hectic buying activity in blue-chip stocks during the session too drove the markets higher, with frontline gauges ending at their all time closing high levels of 23,850 (Sensex) and 7,100 (Nifty). Meanwhile, rally at Dalal Street also saw participation of broader indices, which traded in-line with larger peers, ending with profit of around one and a half percent.

At one point of time Sensex surpassed its crucial 24,000 mark, but profit booking dragged the market below that level. Some cautiousness too was witnessed in the markets on account of weak set of economic data. The Industrial production contracted for the second month running in March, while consumer inflation accelerated to a three-month high in April. IIP contacted 0.5% in March, compared with a 1.8% decline in February, while CPI inflation accelerated to 8.59% in April from 8.31% in March.

But, overall sentiments remained up-beat on report that overseas investors put in Rs 1,200 crore into equities, taking their two-day investment tally to nearly Rs 2,500 crore ($420 million) on Monday, as per provisional figures provided by the stock exchanges.

On the global front, shares in Europe firmed up, tracking solid gains in US equities on Monday and driven by upbeat earnings from large corporate in the region. Moreover, the Asian markets ended mostly in the green as investors shrugged off tensions in Ukraine. Though, Chinese markets ended slightly lower after the nation’s Industrial Production fell to 8.7%, from 8.8% in the preceding month. Chinese Retail Sales too fell to an annual rate of 11.9% from 12.2% in the preceding month.

Back home, there was broad based buying witnessed in the markets and apart from the blue chips, the broader markets too participated strongly in the rally. Appreciation in Indian rupee too supported the sentiments. Meanwhile, stocks related to Capital goods counters edged higher on hopes that the growth focused BJP-led NDA would unveil infrastructure reforms that would ultimately lead to new order inflows. Additionally, stocks related to public sector oil marketing companies (OMCs) viz. BPCL, HPCL and IOC edged higher as diesel prices were on Monday hiked by Rs 1.09 a litre, excluding state levies.

The NSE’s 50-share broadly followed index Nifty surged by over ninety points to end above its psychological 7,100 support level, while Bombay Stock Exchange’s Sensitive Index — Sensex zoomed over three hundred and twenty points to surpass the psychological 23,850 mark. Broader markets too traded with traction and ended the session with gain of around one and a half percent. The market breadth remained in favour of advances, as there were 1,623 shares on the gaining side against 1,268 shares on the losing side while 147 shares remain unchanged.

Finally, the BSE Sensex surged by 320.23 points or 1.36%, to 23871.23, while the CNX Nifty gained 94.50 points or 1.35% to 7,108.75.

The BSE Sensex touched a high and a low of 24068.94 and 23729.25, respectively. The BSE Mid cap index was up by 1.44%, while the Small cap index rose by 1.71%.

The top gainers on the Sensex were BHEL up by 10.25%, Hero MotoCorp up by 5.39%, ONGC up by 3.81%, Tata Power up by 3.62% and Wipro up by 3.36%. While Dr Reddys Lab down by 3.99%, Tata Motors down by 0.94%, Hindalco Inds down by 0.84%, HDFC Bank down by 0.60% and Sun Pharma down by 0.47% were the top losers in the index.

On the BSE Sectoral front, Power up by 3.26%, Consumer Durables up by 2.92%, Oil & Gas up by 2.84%, IT up by 2.59% and Capital Goods up by 2.51% were the top gainers, while Healthcare down by 0.45% was the only loser in the space.

Meanwhile, the industry body Ficci’s latest survey has highlighted that the growth in manufacturing sector is expected to moderate during the first quarter of the current fiscal due to weak domestic demand and slowdown in global demand for Indian products. The survey indicated that even with sluggish domestic demand, the exports outlook for sector too seems to be weakening, as a result of which manufacturing growth is likely to decline in Q1FY15.

The survey noted that out of 352 units, which participated in the survey, only 36 percent have reported higher order books for April-June FY15. The proportion of respondents expecting higher exports in the Q1 FY15 has fallen to 36 percent as against 58 percent in the Q4 FY14. Out of the 14 manufacturing sectors, five industries such as Automotive, Capital Goods, Machine Tools, Cement and Steel & Metals are likely to witness low growth of less than 5 percent. The Ficci’s survey further added that only three sectors, leather, chemicals and ceramics are expected to have a strong growth of over 10 percent in Q1 FY15 and rest are likely to witness moderate growth.

The output of manufacturing sector, which constitutes 75.52% in the IIP index, declined 1.2 percent in March against growth of 4.3 percent a year earlier. During the April-March period of 2013-14, the sector’s output contracted 0.8 percent compared with 1.3 percent growth previously. The sector’s output was mainly impacted by weak demand as Indian economy is struggling with slowdown. Indian economy’s growth slowed down to a decade low at 4.5 percent in FY13 and 4.6 percent during the first three quarter of FY14.

The CNX Nifty touched a high and low of 7,172.35 and 7,067.15 respectively.

The top gainers of the Nifty were BHEL up by 10.37%, Hero MotoCorp up by 6.02%, Ambuja Cements up by 4.89%, Bank of Baroda up by 4.54% and DLF up by 4.24%. On the other hand, PNB down by 4.77%, Dr. Reddy’s Laboratories down by 4.39%, Cairn India down by 1.25%, Hindalco Industries down by 1.12% and HDFC Bank down by 0.76% were the top losers.

The European markets were trading in green, France’s CAC 40 was up by 0.22%, Germany’s DAX was up by 0.69% and United Kingdom’s FTSE 100 was up by 0.06%.

The Asian markets concluded Tuesday’s trade mostly in green, tracking cues from Wall Street where the major averages ended on a strong note overnight. Malaysia and Singapore markets remained shut for the trade today on account of Wesak Day holiday. Shares in the Philippines and Indonesia rose to their highest in 11 months following other Asian markets as investors shrugged off tensions in Ukraine. Indonesia sold 10 trillion rupiah ($867.30 million) of conventional bonds at an auction, higher than an indicative target of 8 trillion rupiah. Japan’s M2 Money Stock fell to a seasonally adjusted 3.4%, from 3.6% in the preceding month whose figure was revised up from 3.5%.

China’s fiscal revenue climbed 9.2% year on year in April to reach 1.25 trillion yuan ($202.92 billion). The central government revenue reached 581.2 billion yuan, up 8.5% year on year, while local government revenue stood at 666.9 billion yuan, up 9.8% from the same period last year. Chinese Industrial Production fell to 8.7%, from 8.8% in the preceding month while Chinese Retail Sales fell to an annual rate of 11.9%, from 12.2% in the preceding month. Chinese Fixed Asset Investment fell to a seasonally adjusted 17.3%, from 17.6% in the preceding month.

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