Metal and mining stocks edge higher

A divergent trend was witnessed between key benchmark indices in the morning trade. At 10:15 IST, the barometer index, the S&P BSE Sensex was up 4.16 points or 0.02% at 26,850.69. The 50-unit CNX Nifty was down 1.05 points or 0.01% at 8,130.65. The market breadth indicating overall health of the market was strong. On BSE, 1,234 shares rose and 646 shares fell. A total of 93 shares were unchanged. The BSE Mid-Cap index was up 0.17%.The BSE Small-Cap index was up 0.53%. Both these indices outperformed the Sensex.

In overseas stock markets, Asian stocks edged lower today, 14 October 2015 on China growth slowdown concerns. US stocks closed lower yesterday, 13 October 2015, with the Dow Jones snapping its 7-day winning streak amid key third-quarter earnings reports.

Closer home, on the macro front, inflation data based on the wholesale price index (WPI) for September 2015 will be declared at 12:00 IST today, 14 October 2015. The WPI inflation dipped further into sub-zero level to minus 4.95% in August 2015 compared with minus 4.05% in July 2015.

Metal and mining stocks gained. Hindalco Industries (up 4.83%), Vedanta (up 3.34%), Jindal Steel & Power (up 2.15%), Tata Steel (up 2.49%), Steel Authority of India (up 2.13%), NMDC (up 1.11%), National Aluminium Company (up 0.98%) and Hindustan Zinc (up 0.23%) edged higher.

Shares of state-run coal mining giant Coal India were off 0.78% at Rs 337.85.

Telecom stocks edged lower. Mahanagar Telephone Nigam (down 1.84%), Idea Cellular (down 0.1%), Tata Teleservices (Maharashtra) (down 0.27%) and Bharti Airtel (down 0.19%) edged lower. Reliance Communications (up 0.45%) edged higher.

The government at the fag end of trading hours yesterday, 13 October 2015, announced guidelines for trading of access spectrum by access service providers. Spectrum trading shall be allowed only between two access service providers, holding Cellular Mobile Telephone Service (CMTS) License, Unified Access Service License (UASL), Unified License (Access Services) and Unified License (UL) with authorization of access service in a licensed service area. All access spectrum bands earmarked for access services by the icensor will be treated as tradable spectrum bands. Only outright transfer of right to use the spectrum from the seller to the buyer shall be permitted. Leasing of spectrum is not permitted.

Siemens rose 0.33% at Rs 1,368 after the company, together with its parent company Siemens AG, has won an order totalling Rs 183 crore from NTPC. The announcement was made after market hours yesterday, 13 October 2015. The component of Siemens in the order is approximately Rs 97 crore.

Greenply Industries surged 7.49% at Rs 1,026.95 after the company said its board of directors will meet on 28 October 2015, to consider 5-for-1 stock split. The announcement was made after market hours yesterday, 13 October 2015.

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