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Market enters into positive zone from negative zone

Capital Market 

Key benchmark indices entered into positive zone from negative zone in mid-afternoon trade. At 14:15 IST, the barometer index, the S&P was up 7.34 points or 0.03% at 28,058.22. The 50 index was currently up 4.30 points or 0.05% at 8,682.20. The was currently trading above the psychologically important 28,000 level after alternately swinging above and below that level in intraday trade.

The rose 80.19 points or 0.28% at the day's high of 28,131.07 in early trade, its highest level since 10 October 2016. The barometer index lost 124.71 points or 0.44% at the day's low of 27,926.17 in afternoon trade. The rose 20.85 points or 0.24% at the day's high of 8,698.75 in early trade, its highest level since 10 October 2016. The index lost 41.20 points or 0.47% at the day's low of 8,636.70 in afternoon trade.

In overseas stock markets, European stocks were mixed. Most Asian stocks edged higher tracking overnight gains in US stock markets. In mainland China, the Shanghai Composite ended higher by 0.03%. In Hong Kong, the Hang Seng ended 0.38% lower. Latest data showed that China's gross domestic product (GDP) rose 6.7% in the third quarter from a year earlier. Another data showed that China's industrial output increased 6.1% in September 2016, from a year earlier. US stocks registered modest gains yesterday, 18 October 2016, helped by stronger-than-expected quarterly reports and after mixed inflation data.

Closer home, the market breadth indicating overall health of the market was positive. On BSE, 1,583 shares rose and 1,104 shares declined. A total of 199 shares were unchanged. The Mid-Cap index was currently up 0.01%, underperforming the Sensex. The Small-Cap index was currently up 0.68%, outperforming the Sensex.

Capital goods stocks were mixed. GE T&D India (down 1.48%), Thermax (down 1.04%), Bharat Electronics (down 0.42%), L&T (down 0.04%), Crompton Greaves (down 0.33%) and ABB India (down 0.25%) edged lower. Siemens (up 0.07%), BEML (up 0.24%), Suzlon Energy (up 3.76%) and Praj Industries (up 2.53%) edged higher.

Bharat Heavy Electricals (Bhel) rose 4.19% at Rs 141.85 on reports the Supreme Court allowed appeal against Madras High Court's stay over construction of Ennore SEZ supercritical thermal power project. Bhel had won a contract in October 2014 worth Rs 7800 crore from Tamil Nadu Generation and Distribution Corporation (TANGEDCO) for setting up 2X660 megawatt (MW) thermal power plant on engineering, procurement and construction (EPC) basis at Ennore SEZ. However, the contract was challenged by a rival consortium.

Havells India edged lower as the company's Q2 September 2016 net profit was boosted by other income. The stock was down 4.57% at Rs 411.45. The company's net profit rose 21.97% to Rs 145.79 crore on 9.8% rise in total income to Rs 1477.54 crore in Q2 September 2016 over Q2 September 2015. The net profit was boosted by 158.16% surge in other income to Rs 25.30 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 18 October 2016.

Power generation and power distribution stocks rose. Tata Power Company (up 2.42%), CESC (up 1.83%), Power Grid Corporation of India (up 1.79%), NTPC (up 1.18%), NHPC (up 0.59%), Reliance Power (up 0.64%), Jaiprakash Power Ventures (up 0.23%), Adani Power (up 0.94%) and JSW Energy (up 0.64%) edged higher. Reliance Infrastructure (down 0.17%), Torrent Power (down 0.06%) and GMR Infrastructure (down 0.31%) edged lower.

Index heavyweight and cigarette major ITC lost 2.03% at Rs 240.80 on reports that the Goods and Services Tax (GST) Council is pondering over having multiple tax slabs for GST along with a 'sin' cess on demerit goods such as tobacco and luxury products. The company currently pays 25% value-added tax (VAT) and 40% excise duty. After GST, ITC may have to pay 26% GST along with 'sin' cess, reports suggested.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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Market enters into positive zone from negative zone

Key benchmark indices entered into positive zone from negative zone in mid-afternoon trade. At 14:15 IST, the barometer index, the S&P BSE Sensex was up 7.34 points or 0.03% at 28,058.22. The Nifty 50 index was currently up 4.30 points or 0.05% at 8,682.20. The Sensex was currently trading above the psychologically important 28,000 level after alternately swinging above and below that level in intraday trade.

Key benchmark indices entered into positive zone from negative zone in mid-afternoon trade. At 14:15 IST, the barometer index, the S&P was up 7.34 points or 0.03% at 28,058.22. The 50 index was currently up 4.30 points or 0.05% at 8,682.20. The was currently trading above the psychologically important 28,000 level after alternately swinging above and below that level in intraday trade.

The rose 80.19 points or 0.28% at the day's high of 28,131.07 in early trade, its highest level since 10 October 2016. The barometer index lost 124.71 points or 0.44% at the day's low of 27,926.17 in afternoon trade. The rose 20.85 points or 0.24% at the day's high of 8,698.75 in early trade, its highest level since 10 October 2016. The index lost 41.20 points or 0.47% at the day's low of 8,636.70 in afternoon trade.

In overseas stock markets, European stocks were mixed. Most Asian stocks edged higher tracking overnight gains in US stock markets. In mainland China, the Shanghai Composite ended higher by 0.03%. In Hong Kong, the Hang Seng ended 0.38% lower. Latest data showed that China's gross domestic product (GDP) rose 6.7% in the third quarter from a year earlier. Another data showed that China's industrial output increased 6.1% in September 2016, from a year earlier. US stocks registered modest gains yesterday, 18 October 2016, helped by stronger-than-expected quarterly reports and after mixed inflation data.

Closer home, the market breadth indicating overall health of the market was positive. On BSE, 1,583 shares rose and 1,104 shares declined. A total of 199 shares were unchanged. The Mid-Cap index was currently up 0.01%, underperforming the Sensex. The Small-Cap index was currently up 0.68%, outperforming the Sensex.

Capital goods stocks were mixed. GE T&D India (down 1.48%), Thermax (down 1.04%), Bharat Electronics (down 0.42%), L&T (down 0.04%), Crompton Greaves (down 0.33%) and ABB India (down 0.25%) edged lower. Siemens (up 0.07%), BEML (up 0.24%), Suzlon Energy (up 3.76%) and Praj Industries (up 2.53%) edged higher.

Bharat Heavy Electricals (Bhel) rose 4.19% at Rs 141.85 on reports the Supreme Court allowed appeal against Madras High Court's stay over construction of Ennore SEZ supercritical thermal power project. Bhel had won a contract in October 2014 worth Rs 7800 crore from Tamil Nadu Generation and Distribution Corporation (TANGEDCO) for setting up 2X660 megawatt (MW) thermal power plant on engineering, procurement and construction (EPC) basis at Ennore SEZ. However, the contract was challenged by a rival consortium.

Havells India edged lower as the company's Q2 September 2016 net profit was boosted by other income. The stock was down 4.57% at Rs 411.45. The company's net profit rose 21.97% to Rs 145.79 crore on 9.8% rise in total income to Rs 1477.54 crore in Q2 September 2016 over Q2 September 2015. The net profit was boosted by 158.16% surge in other income to Rs 25.30 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 18 October 2016.

Power generation and power distribution stocks rose. Tata Power Company (up 2.42%), CESC (up 1.83%), Power Grid Corporation of India (up 1.79%), NTPC (up 1.18%), NHPC (up 0.59%), Reliance Power (up 0.64%), Jaiprakash Power Ventures (up 0.23%), Adani Power (up 0.94%) and JSW Energy (up 0.64%) edged higher. Reliance Infrastructure (down 0.17%), Torrent Power (down 0.06%) and GMR Infrastructure (down 0.31%) edged lower.

Index heavyweight and cigarette major ITC lost 2.03% at Rs 240.80 on reports that the Goods and Services Tax (GST) Council is pondering over having multiple tax slabs for GST along with a 'sin' cess on demerit goods such as tobacco and luxury products. The company currently pays 25% value-added tax (VAT) and 40% excise duty. After GST, ITC may have to pay 26% GST along with 'sin' cess, reports suggested.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Market enters into positive zone from negative zone

Key benchmark indices entered into positive zone from negative zone in mid-afternoon trade. At 14:15 IST, the barometer index, the S&P was up 7.34 points or 0.03% at 28,058.22. The 50 index was currently up 4.30 points or 0.05% at 8,682.20. The was currently trading above the psychologically important 28,000 level after alternately swinging above and below that level in intraday trade.

The rose 80.19 points or 0.28% at the day's high of 28,131.07 in early trade, its highest level since 10 October 2016. The barometer index lost 124.71 points or 0.44% at the day's low of 27,926.17 in afternoon trade. The rose 20.85 points or 0.24% at the day's high of 8,698.75 in early trade, its highest level since 10 October 2016. The index lost 41.20 points or 0.47% at the day's low of 8,636.70 in afternoon trade.

In overseas stock markets, European stocks were mixed. Most Asian stocks edged higher tracking overnight gains in US stock markets. In mainland China, the Shanghai Composite ended higher by 0.03%. In Hong Kong, the Hang Seng ended 0.38% lower. Latest data showed that China's gross domestic product (GDP) rose 6.7% in the third quarter from a year earlier. Another data showed that China's industrial output increased 6.1% in September 2016, from a year earlier. US stocks registered modest gains yesterday, 18 October 2016, helped by stronger-than-expected quarterly reports and after mixed inflation data.

Closer home, the market breadth indicating overall health of the market was positive. On BSE, 1,583 shares rose and 1,104 shares declined. A total of 199 shares were unchanged. The Mid-Cap index was currently up 0.01%, underperforming the Sensex. The Small-Cap index was currently up 0.68%, outperforming the Sensex.

Capital goods stocks were mixed. GE T&D India (down 1.48%), Thermax (down 1.04%), Bharat Electronics (down 0.42%), L&T (down 0.04%), Crompton Greaves (down 0.33%) and ABB India (down 0.25%) edged lower. Siemens (up 0.07%), BEML (up 0.24%), Suzlon Energy (up 3.76%) and Praj Industries (up 2.53%) edged higher.

Bharat Heavy Electricals (Bhel) rose 4.19% at Rs 141.85 on reports the Supreme Court allowed appeal against Madras High Court's stay over construction of Ennore SEZ supercritical thermal power project. Bhel had won a contract in October 2014 worth Rs 7800 crore from Tamil Nadu Generation and Distribution Corporation (TANGEDCO) for setting up 2X660 megawatt (MW) thermal power plant on engineering, procurement and construction (EPC) basis at Ennore SEZ. However, the contract was challenged by a rival consortium.

Havells India edged lower as the company's Q2 September 2016 net profit was boosted by other income. The stock was down 4.57% at Rs 411.45. The company's net profit rose 21.97% to Rs 145.79 crore on 9.8% rise in total income to Rs 1477.54 crore in Q2 September 2016 over Q2 September 2015. The net profit was boosted by 158.16% surge in other income to Rs 25.30 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 18 October 2016.

Power generation and power distribution stocks rose. Tata Power Company (up 2.42%), CESC (up 1.83%), Power Grid Corporation of India (up 1.79%), NTPC (up 1.18%), NHPC (up 0.59%), Reliance Power (up 0.64%), Jaiprakash Power Ventures (up 0.23%), Adani Power (up 0.94%) and JSW Energy (up 0.64%) edged higher. Reliance Infrastructure (down 0.17%), Torrent Power (down 0.06%) and GMR Infrastructure (down 0.31%) edged lower.

Index heavyweight and cigarette major ITC lost 2.03% at Rs 240.80 on reports that the Goods and Services Tax (GST) Council is pondering over having multiple tax slabs for GST along with a 'sin' cess on demerit goods such as tobacco and luxury products. The company currently pays 25% value-added tax (VAT) and 40% excise duty. After GST, ITC may have to pay 26% GST along with 'sin' cess, reports suggested.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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