Key benchmark indices edged higher in early trade as firm Asian stocks boosted sentiment. The barometer index, the SP BSE Sensex, regained the psychological 19,000 level. The Sensex was up 184.67 points or 0.98%, up about 60 points from the day’s low and off close to 15 points from the day’s high. The market breadth, indicating the overall health of the market, was strong. Except BSE IT index, all the other sectoral indices on BSE were in the green.
Tata Motors rose after the company’s UK-based subsidiary of Tata Motors, Jaguar Land Rover (JLR), reported good sales in May 2013. Jet Airways (India) jumped nearly 5% ahead of the likely Foreign Investment Promotion Board (FIPB) meet today, 14 June 2013 to decide on the Rs 2058 crore Jet-Etihad deal. Infosys gained after the company announced that CareFirst BlueCross BlueShield (CareFirst) has selected Infosys Public Services, a US-based subsidiary of Infosys as part of a new managed services contract.
At 9:30 IST, the SP BSE Sensex was up 184.67 points or 0.98% to 19,011.83. The index rose 202.72 points at the day’s high of 19,029.88 in early trade. The index gained 124.93 points at the day’s low of 18,952.09 in early trade.
The CNX Nifty was up 57.50 points or 1.01% to 5,756.60. The index hit a high of 5,762.25 in intraday trade. The index hit a low of 5,739.40 in intraday trade
The market breadth, indicating the overall health of the market, was strong. On BSE, 773 shares rose and 205 shares fell. A total of 34 shares were unchanged.
Among the 30-share Sensex pack, 25 stocks rose and the rest of them fell. Tata Power Company (up 2.5%), Hindalco Industries (up 1.01%) and HDFC (up 1.8%), edged higher.
MMTC declined by the maximum permissible level of 10% to Rs 171.35 after hitting lower circuit limit of 10% on Thursday triggered by the government setting the floor price for divestment of 9.33% stake in the company at a massive discount to the ruling market price. The offer for sale (OFS) for divestment of 9.33% paid up equity of the Government of India shareholding in the MMTC was oversubscribed by 1.55 times. The OFS was done on Thursday, 13 June 2013 through a separate window provided by the stock exchanges for this purpose. Based on the total valid bids received, at an indicative price of Rs 60.86 as against the floor price of Rs 60 for the face value of Re one per share, the Government expects to realize proceeds of Rs 567.90 crore. The OFS received participation from financial institutions, retail investors and some FIIs. The investors category-wise participation was 65% from insurance companies, 21% from banks and 14% from retail investors.
The divestment was done to make the company compliant to the public shareholding requirements under the Securities Contract Regulations (Rules) (SCRR). Sebi has mandated minimum public shareholding of 25% for private companies and 10% for state-run firms.
Infosys gained 0.29% after the company after market hours on Thursday, 13 June 2013, announced that CareFirst BlueCross BlueShield (CareFirst) has selected Infosys Public Services, a US-based subsidiary of Infosys as part of a new managed services contract.
Infosys Public Services will support CareFirst’s IT area to help create a cost-effective delivery model. Through its agreement with Infosys Public Services, CareFirst aims to reduce costs and achieve efficiencies in application support during the three-year contract term.
Infosys also after market hours on Thursday, 13 June 2013, announced salary increments for all eligible employees for fiscal year 2014. The company announced an average increase of 8% for employees based in India. Employees based in other geographies, who have not been covered by salary increments in February 2013, can look forward to an average increase of 3%, Infosys said. These increments will be effective 1 July 2013. The global sales force will see an average increase of 8% which will be effective 1 May 2013, Infosys said.
Mahindra Satyam rose 0.4% after the company after market hours on Thursday, 13 June 2013, announced that on 11 June 2013 the High Court of Andhra Pradesh has approved the scheme of amalgamation and arrangement of Venturbay Consultants Private, Satyam Computer Services, CS System Technologies, CanvasM Technologies and Mahindra Logisoft Business Solutions with the company. The appointed date of the scheme is 1 April 2011.
Syndicate Bank fell 3.79% as the stock turned ex-dividend today, 14 June 2013, for dividend of Rs 6.70 per share for the year ended March 2013.
IndusInd Bank fell 0.18% as the stock turned ex-dividend today, 14 June 2013, for dividend of Rs 3 per share for the year ended March 2013.
UCO Bank rose 2.11%. The stock turned ex-dividend today, 14 June 2013, for dividend of Rs 1.60 per share for the year ended March 2013.
Jet Airways (India) jumped 4.66% ahead of the likely Foreign Investment Promotion Board (FIPB) meet today, 14 June 2013 to decide on the Rs 2058 crore Jet-Etihad deal. Meanwhile, the board of Jet Airways (India) has approved appointing Gary Kenneth Toomey as the chief executive officer (CEO) of the company.
Idea Cellular rose 1% after the company said after market hours on Thursday, 13 June 2013 that the merger of Idea Cellular Towers Infrastructure, a wholly-owned subsidiary of the company, with Indus Towers was sanctioned by the Delhi High Court of Delhi vide its order dated 18 April 2013. The merger was effective from 11 June 2013.
Tourism Finance Corporation of India gained 0.23%. The company said that Brickwork Rating India has upgraded its rating on the company’s debt instruments to BWRAA (Outlook stable), from BWR AA-(outlook stable).
Tata Motors rose 2.01% after the company’s UK-based subsidiary of Tata Motors, Jaguar Land Rover (JLR), reported 12% rise in sales to 32,477 units in May 2013 over May 2012. JLR sales rose 15% to 176,451 vehicles during the first five months of the year over the previous year.
On macro front, the Central Statistics Office (CSO) will unveil wholesale price index (WPI) data for May 2013 today, 14 June 2013. Inflation based on the wholesale price index (WPI) is seen easing further to 4.8% in May 2013, according to a poll of economist carried out by Capital Market. The WPI eased sharply to 4.89% in April 2013, from 5.96% in March 2013. Meanwhile, WPI inflation for February 2013 was revised upwards to 7.28% from 6.84% reported earlier.
Asian stocks rebounded on Friday as US economic data beat estimates and on bets the Federal Reserve will signal plans to keep record-low interest rates. Key benchmark indices in China, Hong Kong, Indonesia, Japan, Singapore, and South Korea rose by 0.21% to 2.93%. Taiwan’s Taiwan Weighted fell 0.21%.
US stocks rallied on Thursday bolstered by upbeat economic data. The data showed retail sales climbed the most in three months and the number of claims for jobless benefits dropped by 12,000 last week. The Federal Open Market Committee meets next week after the Bank of Japan this week left its lending program unchanged.
Powered by Capital Market – Live News
Sensex climbs above 19000 level
Không có nhận xét nào:
Đăng nhận xét