Market falls flat after starting off the day with gains, on dismal GDP projection by the government for the financial year 2012-2013. Gross Domestic Product (GDP) at factor cost at constant prices in the year 2012-13 is likely to attain a level of Rs.55,03,476 crore as against the First Revised Estimate of GDP for the year 2011-12 of Rs. 52,43,582 crore, released on 31st January 2013. The growth in GDP during 2012-13 is estimated at 5% as compared to the growth rate of 6.2% in 2011-12.
The overall breath remained negative on BSE as 1125 stocks declined as compared to an advance seen in 1111 while 137 remained unchanged.
At 11:40am (IST), the BSE Sensex was trading at 19640, up 1 point over the previous close. It had earlier touched a day's high of 19702 and a day's low of 19574. It opened at 19589.
The NSE Nifty was quoting at 5,961, up 2 points over the previous close. It earlier touched a day’s high of 5,978 and a day’s low of 5936. It opened at 5,936.
The BSE Small-Cap index and BSE Mid- Cap index remained flat.
RIL, Infosys, Wipro, M&M, Sun Pharma, HDFC, Tata Motors, Bharti Airtel, BHEL are among gainers in Sensex and Nifty.
TCS, NTPC, SBI, ICICI Bank, Tata Steel, Hero MotoCorp, ONGC, Dr Reddys Lab, Bajaj Auto,are among losers in Sensex and Nifty.
IT, Auto, Teck, Realty, Bankex, Healthcare and FMCG are the gainers.
Consumer Durables, Metal, Capital Goods, PSU and oil and gas indices are the losers.
Tech Mahindra Ltd. is up 1.6% after the software major saw a dip in net profit while revenue grew by 10%. Net profit of Tech Mahindra came in at Rs 2.76bn, which remained flat on a y-o-y basis; revenues stood at Rs 1,791 crore.
Stock is currently trading at Rs.995. 30 up by 16.20. It touched a high of Rs.1005 and a low of Rs.989 in the morning session trade today. Total quantity traded at the counter stood at 0.23lakh.
The figures were beat expectations. Analysts expected a net profit at Rs 2.35bn on revenues of Rs 17.50bn for the quarter.
Hexaware Technologies Ltd. is up 5.2% in the morning session trade. The software exporter revised its fourth quarter guidance downwards on Jan 29, after which the stock fell as much as 4%. The company scaled down its guidance for the December quarter from an earlier $94.7mn-$96.5 million to present $92mn. This includes the impact of $450,000 on account of hurricane Sandy on east coast of United States. The stock is currently trading at Rs.81.70 up by Rs.4. It touched a high of Rs.82.10 and a low of Rs.78.50 in the morning session trade today. Total quantity traded at the counter stood at 6.04lakh.
Tata Global Beverages Ltd. is up 2.74% after Starbucks opened a second store in New Delhi yesterday. Tata Starbucks Ltd is a 50/50 joint venture between Starbucks Coffee Company and Tata Global Beverages Limited, launched the first Starbucks store in Connaught Place, New Delhi. The stock is currently trading at Rs.146.20 up by Rs.3.90. It touched a high of Rs.147.95 and a low of Rs. 142.15 in the morning session trade on Thur. Total quantity traded at the counter stood at 3.65lakh.
Results watch: ACC, Accel Trans, Acrow India, ADF Foods, Aegis Logistics, Alumeco India, Ambuja Cements, Anus Lab, Ashapura Mine, Aurobindo Phar, California Soft, Centum Elect, Dredging Corp, East Coast Steel, Empee Sugars, Frontier Leas, Gayatri Sugars, Gillette India, Gokaldas Expo, HATHWAY CAB, Hotel Leela, Indsil Hydro, Jayaswal Neco, Jayshree Chem, JK Tyre, JL Morison, Jyothy Lab, Keynote Corp, KPR Mill, Krishna Engr, LT Foods, Nagreeka Expo, NDTV, NESCO, Orient Paper, Orissa Minerals Development, PC Jeweller, Prakash Inds, PVP Vent, Rainbow Papers-, Remi Metals, RSWM, S&S Power, Shasun Pharma, Shilp Gravures, SIGNET IND, Splash Media & Infra, Subex, TALWALKAR, Tree House Edu, TVS Electronics, Vardhman Tex, Venus Remedies, VIP Inds, Zydus Wellness, Wanbury.
Trends in FII flows: The FIIs were net buyers of Rs11.37bn in the cash segment on Wednesday, while the domestic institutional investors (DIIs) were net sellers of Rs12.24bn, as per the provisional figures released by the NSE.
The foreign funds were net buyers of Rs50.84bn in the cash segment on Tuesday, according to the SEBI figures.
India Infoline Research Team / 15:28, Mar 13, 2015
Markets are now reinforcing the perception of an early interest rate hike by US Federal Reserve, with consensus calling for the hike taking place in June, when compared with the prior expectations of a hike in September.