Key benchmark indices were highly volatile in early trade. At 9:20 IST, the barometer index, the S&P BSE Sensex was up 6.61 points or 0.03% at 25,616.82. The 50-unit CNX Nifty was down 2.55 points or 0.03% at 7,786.75. Broad market depicted strength. On BSE, 587 shares rose and 268 shares declined. A total of 31 shares were unchanged. The BSE Mid-Cap index was up 0.22%. The BSE Small-Cap index was up 0.23%. Both these indices outperformed the Sensex.
In overseas markets, Chinese stocks led losses for Asian markets as data over the weekend showed growth in China's investment and factory output missed forecasts in August, pointing to a further cooling in the world's second-largest economy. US stocks ended modestly higher on Friday, 11 September 2015, ahead of the key Federal Reserve meeting. The Fed's policy-making committee holds a two-day meeting on 16 and 17 September 2015.
Among macro data, data released after market hours on Friday, 11 September 2015 showed that India's index of industrial production (IIP) increased 4.2% in July 2015 over a year ago compared with the revised growth of 4.4% in June 2015. The IIP growth for June 2015 has been scaled up 4.4% in the first revision compared with 3.8% reported provisionally.
Another data showed that India's current account deficit (CAD) narrowed to $6.2 billion (1.2% of GDP) in Q1 June 2015 from $7.8 billion (1.6% of GDP) a year ago. This improvement was mainly on account of the merchandise trade deficit ($34.2 billion during Q1 June 2015) which contracted on a year-on-year (y-o-y) basis due to a larger absolute decline in merchandise imports relative to merchandise exports. The reduction in the CAD was also enabled by higher net earnings through services and lower outflow on account of primary income (profit, dividend and interest).
Meanwhile, the government is scheduled to unveil the consumer price index (CPI) data for the month of August 2015 after market hours today, 14 September 2015. The all-India general CPI inflation dipped to 3.78% in July 2015 from 5.4% in June 2015.
The government will release the data on inflation based on the wholesale price index (WPI) for August 2015 at 12:00 IST today, 14 September 2015. The WPI inflation continued to be in negative zone for the ninth straight month in July 2015. It stood at negative 4.05% in July 2015.
Among individual stocks, Colgate Palmolive (India) rose 1.05% at Rs 1,875.95 after the company said it has fixed 24 September 2015 as the record date for the purpose of ascertaining the shareholders who are eligible to receive bonus shares in the proportion of 1:1 i.e. one equity share for every one existing equity share held by the shareholders. The company made the announcement after market hours on Friday, 11 September 2015.
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