The first quarter corporate results season will kick off today with TCS announcing its Q1 results
Benchmark indices continue to trade in a narrow range with Sensex and Nifty swinging between negative and positive zone.
Further, investors have remained cautious ahead of the corporate results season, which will be starting from today. The first quarter corporate results season will kick off today with TCS announcing its Q1 results.
Indian data to be released in coming days is likely to show consumer price inflation nudged up slightly in June and factory output growth little changed in May, pointing to a gradual improvement in industry, according to a Reuters poll.
At 11:45 AM, the Sensex was at 27,665 levels, down by 23 points while Nifty was at 8,354, down by 9 points.
The broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices are up 0.3-1%.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 354.32 crore yesterday, 8 July 2015, as per provisional data released by the stock exchanges.
ASIAN MARKETS
Chinese stocks rallied on Thursday after the securities regulator banned shareholders with large stakes in listed firms from selling, in Beijing's most drastic step yet to stem a sell-off that has roiled global financial markets.
As the daily drumbeat of official announcements aimed at propping up the sinking equity market continued, state news agency Xinhua said police would investigate "malicious" short-selling of stocks, and the banking regulator said it would allow lenders to roll over loans backed by stocks.
In what was at least a temporary reprieve, the CSI300 index of the largest listed companies in Shanghai and Shenzhen jumped 5.8% in morning trading, while the Shanghai Composite Index gained 5.3%. Both had tumbled around 6-7% on Wednesday.
SECTORS & STOCKS
BSE Capital Goods index has surged over 1.5% followed by counters like Consumer Durables, Power and Healthcare, all the gaining by 1% each. However, BSE IT index has slumped over 1%.
The poll's median forecast showed industrial production rising 4.1% in May, matching April's growth. Data released on June 30 showed core infrastructure output grew 4.4% in May, its first rise in three months and fastest in six month.
The top gainers on the Sensex are BHEL, BHEL, Bharti Airtel, L&T, Hero Moto and Hindalco.
Shares of information technology (IT) companies were under pressure, with the National Stock Exchange (NSE) CNX IT index touching six-month lows ahead of Tata Consultancy Services (TCS)' April-June quarter results today.
TCS and HCL Technologies were down 2% each at Rs 2,537 and Rs 914 respectively, while Infosys (1.6% at Rs 942), MindTree (1% at Rs 1,215) and Oracle Financial Services Software (1% at Rs 3,857) were down between 1% and 2%. However, Tech Mahindra and Wipro were trading in the green, up by less than 1%.
Among other shares, Man Industries (India) is trading higher by 6% to Rs 117, extending its previous day’s 15% rally on the NSE, after investor Ashish Kacholia acquired stake in the company through open market.
Shares of 8K Miles Software Services are trading higher by 4% to Rs 883 on the NSE after the company reported more-than-double jump in consolidated net profit at Rs 7.22 crore for the quarter ended June 2015 (Q1).
Benchmark indices continue to trade in a narrow range with Sensex and Nifty swinging between negative and positive zone.
Further, investors have remained cautious ahead of the corporate results season, which will be starting from today. The first quarter corporate results season will kick off today with TCS announcing its Q1 results.
Indian data to be released in coming days is likely to show consumer price inflation nudged up slightly in June and factory output growth little changed in May, pointing to a gradual improvement in industry, according to a Reuters poll.
At 11:45 AM, the Sensex was at 27,665 levels, down by 23 points while Nifty was at 8,354, down by 9 points.
The broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices are up 0.3-1%.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 354.32 crore yesterday, 8 July 2015, as per provisional data released by the stock exchanges.
ASIAN MARKETS
Chinese stocks rallied on Thursday after the securities regulator banned shareholders with large stakes in listed firms from selling, in Beijing's most drastic step yet to stem a sell-off that has roiled global financial markets.
As the daily drumbeat of official announcements aimed at propping up the sinking equity market continued, state news agency Xinhua said police would investigate "malicious" short-selling of stocks, and the banking regulator said it would allow lenders to roll over loans backed by stocks.
In what was at least a temporary reprieve, the CSI300 index of the largest listed companies in Shanghai and Shenzhen jumped 5.8% in morning trading, while the Shanghai Composite Index gained 5.3%. Both had tumbled around 6-7% on Wednesday.
SECTORS & STOCKS
BSE Capital Goods index has surged over 1.5% followed by counters like Consumer Durables, Power and Healthcare, all the gaining by 1% each. However, BSE IT index has slumped over 1%.
The poll's median forecast showed industrial production rising 4.1% in May, matching April's growth. Data released on June 30 showed core infrastructure output grew 4.4% in May, its first rise in three months and fastest in six month.
The top gainers on the Sensex are BHEL, BHEL, Bharti Airtel, L&T, Hero Moto and Hindalco.
Shares of information technology (IT) companies were under pressure, with the National Stock Exchange (NSE) CNX IT index touching six-month lows ahead of Tata Consultancy Services (TCS)' April-June quarter results today.
TCS and HCL Technologies were down 2% each at Rs 2,537 and Rs 914 respectively, while Infosys (1.6% at Rs 942), MindTree (1% at Rs 1,215) and Oracle Financial Services Software (1% at Rs 3,857) were down between 1% and 2%. However, Tech Mahindra and Wipro were trading in the green, up by less than 1%.
Among other shares, Man Industries (India) is trading higher by 6% to Rs 117, extending its previous day’s 15% rally on the NSE, after investor Ashish Kacholia acquired stake in the company through open market.
Shares of 8K Miles Software Services are trading higher by 4% to Rs 883 on the NSE after the company reported more-than-double jump in consolidated net profit at Rs 7.22 crore for the quarter ended June 2015 (Q1).
No comments:
Post a Comment