Sensex up over 200 points; ICICI Bank up 2%

The markets are trading firm led by financials and auto shares. In addition, strong global cues and positive macro economic data boosted the market sentiments.

 

At 9.50 AM, the Sensex is trading at 25,228 levels up by 221 points and Nifty is trading at 7,523 levels higher by 69 points.

 

Meanwhile, Foreign portfolio investors (FPIs) sold shares worth a net Rs 558.25 crore on Monday, 14 July 2014, as per provisional data from the stock exchanges.  

 

BSE Midcap and Smallcap are outperforming the larger counterparts up by 1.5%

 

Sectors & Stocks:

 

On the sectoral front, BSE Capital goods index is leading the rally followed by Realty, power, metal indices and Bankex. However, BSE IT index is losing sheen and BSE FMCG and Healthcare indices are trading flat with a positive bias.

 

Fresh buying is visible in the financial space, SBI, HDFC twins, Axis Bank and ICICI Bank are trading between 0.2-1.6%

 

Auto shares are trading in the positive territory with M&M, Tata Motors, Hero Motocorp and Maruti Suzuki up between 0.5-2% 

 

Capital goods and metal shares are trading in the positive territory. BHEL, L&T, Coal India, Hindalco and Tata Steel are up between 1-2% 

 

Tata Sponge Iron has surged 8% to Rs 692 on National Stock Exchange (NSE) after reporting an over two-fold jump in standalone net profit at Rs 44 crore for the first quarter ended June 30, 2014 (Q1), due higher realisation and other income. The Tata Group Company had reported a profit of Rs 18 crore in the same quarter last year.

 

On the flip side, Technology shares and pharma shares are witnessing heavy selling. TCS, Wipro, Sun Pharma , Dr Reddy’s Lab and  Cipla are down between 0.1-1%

 

The market breadth is positive on the BSE with 1,211 gainers and 421 losers.

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(updated at 9.55 AM)

The markets have opened on a firm note tracking strong global cues. In addition, easing of WPI & CPI inflation data and advancement of monsoons boosted the sentiments of the market participants. 

 

At 9.15, the Sensex is trading at 25,162 levels up by 156 points and Nifty is trading at 7,500 levels up by 47 points

 

 Global Markets:

 

The Asian shares were firm on Tuesday after Citigroup's earnings and a fresh round of merger and acquisition activity in the U.S. healthcare industry lifted global share prices. 

 

 Yet, with elevated stock prices on Wall Street and elsewhere relying substantially on support from low interest rates, many investors now look to Federal Reserve Chair Janet Yellen's testimony in a U.S. Senate committee.

 

U.S. stocks ended higher on Monday, with the Dow Jones industrial average hitting an intraday record, helped by Citigroup's better-than-expected earnings and more deals in the healthcare sector.

 

Back home, Consumer Price Index (CPI)-based inflation fell to 7.31% in June, the lowest since its launch in January 2012. Its wholesale counterpart declined to a four-month low of 5.43% in the month and wholesale price inflation eased to a four-month low in June after the new government curbed farm exports.

 

Sectors & Stocks:

 

On sectoral front, Barring BSE healthcare index, all other indices are trading in the positive territory. BSE Capital goods index is leading the rally followed by power index and Bankex . 

 

L&T, BHEL, Hindalco, NTPC and ICICI Bank are some of the distinguished gainers on the BSE. On the other hand, Sesa Sterlite, Pharmaceutical majors, TCS and Wipro are trading in the negative territory.