A bout of volatility was witnessed in afternoon trade as key benchmark indices have once again regained positive terrain after slipping into the red. At 13:18 IST, the barometer index, the S&P BSE Sensex was up 6.38 points or 0.02% at 25,586.72. The 50-unit Nifty 50 index was currently up 2.60 points or 0.03% at 7,787.25.
The Sensex hit its lowest level in more than two weeks when it fell 77.38 points or 0.3% at the day's low of 25,502.96 in early trade. The Nifty also hit its lowest level in more than two weeks when it fell 25.45 points or 0.32% at the day's low of 7,759.20 in early trade.
The market breadth indicating the overall health of the market was strong. On BSE, 1,779 shares rose and 971 shares declined. A total of 122 shares were unchanged. The BSE Mid-Cap index was currently up 0.49%. The BSE Small-Cap index was currently up 0.57%. Both these indices outperformed the Sensex.
In overseas stock markets, Asian equities edged lower as China continued guiding the yuan lower and after the outcome of a monthly survey pointed to weakness in China's services sector. Yet, stocks in mainland China edged higher on media reports that China will keep in effect a ban on share sales by listed companies' major shareholders until new rules are promulgated. The Shanghai Composite index settled with gains of 2.25%. Trading in US stock index futures indicated decline for US stocks at the opening bell. Trading in US index futures indicated that the Dow Jones Industrial Average could slide 119 points at the opening bell.
Auto stocks were mixed. Ashok Leyland (up 0.7%), Eicher Motors (up 1.52%), Bajaj Auto (up 0.12%), and TVS Motor Company (up 2.13%) gained. Hero MotoCorp declined 0.58%.
Tata Motors was down 0.64% at Rs 372.25. The stock hit a high of Rs 378 and a low of Rs 368.25 so far during the day. Jaguar Land Rover (JLR) North America yesterday, 5 January 2016, said its US sales rose 30% to 9,638 units in December 2015 over December 2014. Land Rover sales rose 47% to 8,441 units in December 2015 over December 2014. Jaguar sales fell 29% to 1,197 units in December 2015 over December 2014. JLR is British luxury car unit of Tata Motors. The sales figures were announced after close of Indian market hours yesterday, 5 January 2016.
Mahindra & Mahindra (M&M) was down 0.72% at Rs 1,235.25. The stock hit a high of Rs 1,254 and a low of Rs 1,234.40 so far during the day. M&M announced before market hours today, 6 January 2016, that Mahindra Susten Private Limited, a step down subsidiary of Mahindra Holdings which is in turn a subsidiary of M&M, incorporated a company called MachinePulse Tech Private Limited on 5 January 2016 as its subsidiary. MachinePulse Tech has been incorporated to carry on the businesses of software and data analytics and to undertake other IT enabled services.
Maruti Suzuki India declined 0.6%. The company announced during market hours today, 6 Janaury 2016, that its total production rose 12.96% to 1.07 lakh units in December 2015 over December 2014.
Capital goods stocks were mixed. Havells India (down 0.05%) and Crompton Greaves (down 0.43%) declined. Bharat Heavy Electricals (Bhel) (up 0.78%), Thermax (up 0.17%) and Siemens (up 1.47%) gained. BEML was flat.
L&T fell 0.16% to Rs 1,255.35. The stock was volatile. The stock hit high of Rs 1,261 and low of Rs 1,250.55 so far during the day. The company during market hours today, 6 January 2016, announced that its construction division has secured orders worth Rs 2871 crore across various businesses.
Gokaldas Exports jumped 7.28% after the company said that its board of directors at a meeting yesterday, 5 January 2016, decided to transfer/sell land, building and related assets pertaining to some of its properties in Bengaluru, Mysore and Hyderabad. The announcement was made after market hours yesterday, 5 January 2016.
Meanwhile, the outcome of a monthly survey showed that growth in India's services sector accelerated last month. The Nikkei India Services PMI rose to a 10-month high of 53.6 in December 2015.
Powered by Capital Market - Live News
