Key benchmark indices recovered after hitting fresh intraday low in afternoon trade. Both the S&P BSE Sensex and the CNX Nifty bounced back from the negative terrain. The S&P BSE Sensex was up 33.01 points or 0.17%, off close to 157 points from the day's high and up about 22 points from the day's low. The market breadth, indicating the overall health of the market, was negative. Cholamandalam Investment and Finance Company, Federal Bank, Jubilant FoodWorks, United Breweries and Opto Circuits (India) saw a surge in volumes on BSE today, 10 June 2013.
The market pared gains after a firm opening. After regaining strength, the market once again trimmed gains to hit fresh intraday low in morning trade. A bout of volatility was witnessed as key benchmark indices regained positive terrain after slipping into the red for a brief period in mid-morning trade. The Sensex was just a tad higher in early afternoon trade. Key benchmark indices recovered after hitting fresh intraday low in afternoon trade.
Foreign institutional investors (FIIs) bought shares worth a net Rs 157.90 crore on Friday, 7 June 2013, as per provisional data from the stock exchanges.
At 13:18 IST, the S&P BSE Sensex was up 33.01 points or 0.17% to 19,462.24. The index fell 22.16 points at the day's low of 19,407.07 in afternoon trade. The index rose 156.52 points at the day's high of 19,585.75 in early trade.
The CNX Nifty was up 8.20 points or 0.14% to 5,889.20. The index hit a high of 5,931.65 in intraday trade. The index hit a low of 5,872.75 in intraday trade.
The market breadth, indicating the overall health of the market, was even. On BSE, 882 shares rose and 1,204 shares fell. A total of 153 shares were unchanged.
Among the 30-share Sensex pack, 16 stocks rose and rest of them fell. Jindal Steel & Power (down 2.40%), Bharti Airtel (down 1.84%), Tata Motors (down 1.66%), ICICI Bank (down 1.53%), Maruti Suzuki India (down 1.51%), Bhel (down 1.42%), Sterlite Industries India (down 1.12%) and Sun Pharmaceuticals Industries (down 1.12%), edged lower from the Sensex pack.
Wipro (up 1.76%), HDFC (up 1.68%), Infosys (up 1.44%), NTPC (up 1.32%), Hero MotoCorp (up 1.23%), M&M (up 0.98%) and TCS (up 0.64%), edged higher from the Sensex pack.
In the BSE's 'A' group, MCX (up 3.14%), Thermax (up 2.11%), Motherson Sumi Systems (up 1.97%), Ultratech Cements (up 1.87%) and Adani Ports and Special Economic Zone (up 1.78%), edged higher.
Cholamandalam Investment and Finance Company clocked volume of 6.54 lakh shares on BSE, a 516.36-times surge over two-week average daily volume of 1,000 shares. The stock fell 1.43% to Rs 268.
Federal Bank notched up volume of 8.19 lakh shares, a 25.93-fold surge over two-week average daily volume of 32,000 shares. The stock fell 2.18% to Rs 438.85.
Jubilant FoodWorks saw volume of 79,000 shares, a 2.46-fold surge over two-week average daily volume of 32,000 shares. The stock fell 0.30% to Rs 1,073.
United Breweries clocked volume of 1.40 lakh shares, a 2.38-fold surge over two-week average daily volume of 59,000 shares. The stock rose tumbled 7.18% to Rs 659.50.
Opto Circuits (India) saw volume of 48.02 lakh shares, a 1.69-fold rise over two-week average daily volume of 28.46 lakh shares. The stock slumped 17.72% to Rs 23.45.
On political front, Narendra Modi was selected on Sunday to head BJP's campaign for 2014 Lok Sabha polls. Modi's appointment as the Chairman of BJP's Election Campaign Committee for 2014 Lok Sabha polls could make him the party's candidate for Prime Minister.
European markets were mostly higher in early trade. Key benchmark indices in Germany and UK were up by 0.24% and 1.05%. However, France's CAC 40 was down 0.26%.
Most Asian stocks edged higher on Monday after a report showed the US added more workers than expected last month. Key benchmark indices in Singapore, Hong Kong, Taiwan and South Korea rose by 0.13% to 0.81%. Indonesia's Jakarta Composite fell 1.69%.
Mainland Chinese markets are closed from today, 10 June 2013 till Wednesday, 12 June 2013, for the Dragon Boat Festival.
Japan's Nikkei Average surged 4.94%. Japan's economy grew more than the government initially estimated in the first quarter, helping Prime Minister Shinzo Abe to sustain confidence in his campaign to defeat deflation. Gross domestic product expanded an annualized 4.1%, compared with a preliminary calculation of 3.5%, the Cabinet Office said in Tokyo today.
Japan's current account surplus doubled in April from a year earlier, and bank lending posted its biggest annual rise in over three years, in a fresh sign the government's aggressive policies to stimulate growth are paying early dividends.
China's trade, inflation and lending data for May announced over the weekend all trailed estimates, signaling weaker global and domestic demand. Industrial production rose a less-than-forecast 9.2% from a year earlier and factory-gate prices fell for a 15th month. Export gains were at a 10-month low and imports dropped after a crackdown on fake trade invoices while fixed-asset investment growth slowed and new yuan loans declined.
Trading in US index futures indicated that the Dow could gain 39 points at the opening bell on Monday, 10 June 2013. US stocks rose on Friday after May job data eased investors' worries that the Federal Reserve may be reducing its stimulus program in the near future. The Labor Department's data showed job gains of 175,000 in May, slightly above the economists' forecast, while the US unemployment rate increased to 7.6% last month from 7.5% in April.
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