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Volatility was high as key benchmark indices gyrated between gains and losses in mid-morning trade. At 11:19 IST, the barometer index, the S&P Sensex, was up 14.53 points or 0.05% at 27,657.64. The 50 index, however, was down 2.70 points or 0.03% at 8,570.65. The market breadth indicating the overall health of the market was strong. On BSE, 1,479 shares rose and 813 shares fell. A total of 150 shares were unchanged. The Mid-Cap index was currently up 0.50%. The Small-Cap index was currently up 0.47%. Both these indices outperformed the

Infosys lost 1.48% to Rs 1,036.45 after the company trimmed revenue growth guidance for the current financial year at the time of announcing Q2 September 2016 results today, 14 October 2016. The stock hit a 52-week low of Rs 996.15 in intraday today, 14 October 2016.

In constant currency terms, the company now expects revenue to grow by 8% to 9% for the year ending 31 March 2017 (FY 2017). The company had forecast 10.5%-12% growth in revenue for FY 2017 in constant currency terms at the time of announcing Q1 June 2016 results on 15 July 2016. The company had at the beginning of FY 2017 estimated its revenue growth at 11.5-13.5%.

Infosys' consolidated net profit rose 4.9% to Rs 3606 crore on 3.1% growth in revenue to Rs 17310 crore in Q2 September 2016 over Q1 June 2016. The results are as per International Financial Reporting Standards (IFRS). The result was announced during market hours today, 14 October 2016.

Infosys' CEO Dr. Vishal Sikka said that the company focused on strong execution in Q2 September 2016 with its core IT services business showing good progress on the strength of its innovation and operational initiatives. While the company continues to navigate an uncertain external environment, it remains focused on executing its strategy and increasing momentum of its software plus services model, Sikka said.

M.D. Ranganath, CFO of Infosys said the company's margins expanded during the quarter on the back of further improvement in operational efficiency. Operating cash flows for the quarter were healthy and the company effectively navigated a volatile currency environment through prudent hedging, he said.

Realty shares were mixed. Prestige Estates Projects (up 2.61%), Parsvnath Developers (up 1.42%), Indiabulls Real Estate (up 0.79%), Unitech (up 0.70%), Peninsula Land (up 0.53%), DLF (up 0.44%), Housing Development and Infrastructure (HDIL) (up 0.44%), D B Realty (up 0.43%), Sunteck Realty (up 0.21%) and Godrej Properties (up 0.19%), edged higher. Anant Raj (down 0.18%), Omaxe (down 0.24%), Mahindra Lifespace Developers (down 0.25%), Sobha (down 0.45%), Oberoi Realty (down 1.05%) and Phoenix Mills (down 1.47%), edged lower.

Metal shares were mixed. National Aluminium Company (up 1.88%), Hindustan Zinc (up 0.47%), Tata Steel (up 0.30%), Jindal Steel & Power (up 0.26%) and Hindustan Copper (up 0.09%), edged higher. Hindalco Industries (down 0.19%), Steel Authority of India (down 0.31%), Bhushan Steel (down 0.35%), Vedanta (down 0.51%), JSW Steel (down 1.01%) and NMDC (down 1.02%), edged lower.

Meanwhile, copper price edged higher in the global commodities markets. High Grade Copper for December 2016 delivery was currently up 0.26% at $2.1275 per pound on the COMEX.

On the economic front, the all-India general CPI inflation dipped to 13-months low of 4.31% in September 2016, compared with 5.05% in August 2016. The core CPI inflation moved up to 4.77% in September 2016 from 4.59% in August 2016. The data was announced after market hours yesterday, 13 October 2016.

In overseas stock markets, Asian stocks were mixed today, 14 October 2016. Meanwhile, China's producer price index edged up 0.1% in September from a year earlier, reversing a 0.8% on-year drop in August, the National Bureau of Statistics said. US stocks finished in the red yesterday, 13 October 2016, as investors grew jittery following the Federal Reserve's latest meeting minutes as well as weak Chinese economic reports. The number of Americans filing for unemployment benefits held at a 43-year low last week, pointing to sustained labor market strength that could pave the way for the Federal Reserve to raise interest rates in December. Initial claims for state unemployment benefits were unchanged at a seasonally adjusted 246,000 for the week ended 8 October 2016, the lowest reading since November 1973, the Labor Department said.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 14 2016. 11:12 IST