Sensex turns volatile; Bankex, FMCG strong
Bankex, FMCG and Healthcare are the gainers, while Realty, Oil & Gas, PSU, Consumer Durables, Auto, Power, Metal and Capital Goods are the losers
BSE Mid-cap is 82 points down at 5,460, while BSE Small-cap is 57 points down at 5,253.
Bankex, FMCG and Healthcare are the gainers on BSE, while Realty, Oil & Gas, PSU, Consumer Durables, Auto, Power, Metal, Capital Goods, TECk and IT are the losers.
HUL, HDFC Bank, HDFC, Jindal Steel, Gail, Maruti Suzuki, Sterlite, Bharti Airtel, Dr Reddy's Lab and Sun Pharma are up, whereas ONGC, BHEL, M&M, Hindalco, RIL, Tata Steel, Coal India, SBI, Bajaj Auto and Tata Motors are showing some weakness.
Titan Industries posted profit of Rs. 1.82 billion for the quarter ended June 30, 2013 as against Rs. 1.56 billion for the quarter ended June 30, 2012. The scrip is 1.08% down on BSE.
GlaxoSmithkline Consumer Healthcare declined 1.37%. The pharma company reported net profit of Rs. 1.19 billion for the quarter ended June 30, 2013 as compared to Rs. 1.07 billion for the quarter ended June 30, 2012.
Tata Global Beverage, which is trading 3.63% down, posted net profit of Rs. 845.70 million for the quarter ended June 30, 2013 as compared to Rs. 560.80 million for the quarter ended June 30, 2012.
Castrol India is 3.49% down. The company announced net profit of Rs. 1.54 billion for the quarter ended June 30, 2013 as compared to Rs. 1.21 billion for the quarter ended June 30, 2012. Castrol India has decided to pay an Interim Dividend of Rs. 3.50 per equity share of Rs. 10 each for the year ending December 31, 2013.
Adani Power has decreased 2.71%. The company reported net loss of Rs. 9.19 billion for the quarter ended June 30, 2013 as compared to net loss of Rs. 7.93 billion for the quarter ended June 30, 2012
Union Bank is 5.68% down. The state-run bank posted net profit of Rs. 5.60 billion for the quarter ended June 30, 2013 as compared to Rs. 5.12 billion for the quarter ended June 30, 2012.
Jammu & Kashmir Bank is 1.59% down. The bank reported net profit of Rs. 3.08 billion for the quarter ended June 30, 2013 as compared to Rs. 2.46 billion for the quarter ended June 30, 2012.
Leading SUV maker Mahindra & Mahindra's (M&M) auto sales stood at 37,096 units as against 47,059 units in July. The scrip is 4.07% down.
Bank of Baroda declined 5.74%. The public sector lender's net profit for the June 2013 quarter stood at Rs. 11.67 billion, up 2.5% YoY.
Rajeev Rishi has joined as the chairman and managing director of Central Bank of India. The bank stock is 2.78% up on BSE.
Financial Technologies (India) (FTIL) has tanked 61% at Rs. 211 on BSE on back of heavy volumes. Late on Wednesday, National Spot Exchange Limited (NSEL), arm of FTIL, said in a statement that it will merge the delivery and settlement of contracts (other than e-Series) and that settlement would be deferred for 15 days.
Shares of commodity bourse Multi Commodity Exchange of India Ltd (MCX), also promoted by FTIL, took a hit as well, sliding as much as 20% to their lifetime low.
Sanghvi Forging & Engineering is3.45% down on the new that it has won orders worth 100 million.
Maruki Suzuki is 0.96% up. The car maker sold a total of 83,299 units in July.
Investors will keep a close eye on Idea Cellular and Reliance Communications ahead of their quarterly results which will be out later today.
The partially convertible rupee is trading at 60.86 against the dollar on NSE.
July’s seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index™ (PMI™) posted only fractionally above the 50.0 no-change threshold. Down from 50.3 in June to 50.1, the latest reading was indicative of a broad stagnation of manufacturing operating conditions in India.
Activity in the manufacturing sector was broadly flat in July. Output fell by less, but order flows weakened led by slower growth in export orders. Moreover, inventory accumulation and employment growth slowed, Leif Eskesen, Chief Economist for India & ASEAN at HSBC, said.
The data suggests that the RBI will likely have to keep policy rates on hold for a while given lingering inflation risks and that the recently introduced currency stabilization measures will not be lifted anytime soon,” Eskesen added.
Nikkei closed 337 points higher at 14,005, while Hang Seng closed 205 points up at 22,088.
India Infoline Research Team / 08:44, Jun 26, 2015
IIFL is hosting 10 companies at a Management Roadshow in Mumbai today. The opening is a subdued start. US market saw minor losses with Dow, S&P 500 and Nasdaq closing marginally lower.