Key benchmark indices hovered in positive terrain as trading progressed during special live trading session held by the stock exchanges on account of Muhurat trading on Diwali today, 3 November 2013. The market breadth was strong. The S&P BSE Sensex was up 59.56 points or 0.28%, off close to 65 points from the day's high and up about 15 points from the day's low.
Metal stocks rose on positive economic data in China. Capital goods pivotals gained. Auto stocks were in demand. Hero MotoCorp (HMCL) rose after the company reported its highest-ever despatch and retail sales for any month in October 2013. Tata Motors shrugged off weak October sales.
Key benchmark indices pared gains after opening strongly on special live trading session on account of Muhurat trading on Diwali. The S&P BSE Sensex scaled record high. The 50-unit CNX Nifty scaled highest level in over 5 years. It held firm later during the special trading session.
The muhurat trading started at 18:15 IST and will end at 19:30 IST. The stock market remains closed on Monday, 4 November 2013, on account of Diwali-Balipratipada.
Foreign institutional investors (FIIs) bought shares worth a net Rs 186.95 crore on Friday, 1 November 2013, as per provisional data from the stock exchanges.
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At 19:15 IST, the S&P BSE Sensex was up 59.56 points or 0.28% to 21,256.37. The index rose 124.72 points at the day's high of 21,321.53, a record high. The index gained 46.95 points at the day's low of 21,243.76.
The CNX Nifty was up 14.60 points or 0.23% to 6,321.80. The index hit a high of 6,342.95 in intraday trade, its highest level since 10 January 2008. The index hit a low of 6,319.25 in intraday trade.
The market breadth, indicating the overall health of the market, was strong. On BSE, 1,154 shares rose and 255 shares fell. A total of 182 shares were unchanged.
Among the 30-share Sensex pack, 26 stocks rose and rest of them fell. Sun Pharmaceutical Industries (up 0.98%), ONGC (up 0.9%) and ITC (up 0.62%), edged higher from the Sensex pack.
Most auto stocks extended Friday's gains triggered by PSU OMCs cut petrol price by Rs 1.15 a litre. The price changes announced by oil companies are excluding local sales tax or VAT and will be effective from Friday, 1 November 2013.
Tata Motors gained 1.65%. The company said its total vehicle sales declined 28% to 51,638 units in October 2013 over October 2012. Domestic sales declined 31% to 46,926 units, while exports surged 30% to 4,712 units in October 2013 over October 2012. Tata Motors made this announcement after market hours on Friday, 1 November 2013.
Maruti Suzuki India rose 1.3%. The company's total sales rose 1.9% to 1.05 lakh vehicles in October 2013 over October 2012. Domestic sales rose 0.1% to 96,062 vehicles in October 2013 over October 2012. Exports jumped 27% to 9,025 units in October 2013 over October 2012. The sales data was announced during market hours on Friday, 1 November 2013.
But, Mahindra & Mahindra (M&M) declined 0.32%. M&M's total tractor sales jumped 29% to 38,263 units in October 2013 over October 2012. Tractor sales in the domestic market jumped 30% to 37,532 units while exports rose 5% to 731 units in October 2013 over October 2012.
M&M separately also reported monthly sales data of its automobiles division. The company's total auto sales fell 5% to 50,558 units in October 2013 over October 2012. Total domestic sales fell 7% to 47,787 units in October 2013 over October 2012. The company reported sales figures on Friday, 1 November 2013.
Bajaj Auto gained 0.14%.
Hero MotoCorp (HMCL) rose 0.74% after the company reported its highest-ever despatch and retail sales for any month in October 2013. Riding on overwhelming customer response leading up to the festive season, Hero MotoCorp (HMCL) on Friday, 1 November 2013 reported its highest-ever despatch and retail sales for any month in October 2013. Breaking all previous records and setting a new industry benchmark, Hero MotoCorp dispatches rose 18.17% to 6.25 lakh units of two-wheelers in October 2013 over October 2012. This is also the first time that any two-wheeler manufacturer has exceeded the landmark 6 lakh unit sales in a month. Hero MotoCorp's previous highest sales for any month was recorded in May this year when it sold 5.57 lakh units.
Mr. Anil Dua, Sr. Vice-President (Marketing & Sales), Hero MotoCorp commenting on the company's sales performance said, "Our October story has been about setting New Milestones. While we exceeded our best-ever despatch sales for any month by a huge margin, at the same time, our retail sales - which is a real barometer of customer response - has also set a new record. We have retailed over 6.5 lakh two-wheelers in the domestic market in the month of October, with a healthy double-digit growth month-on-month. This sales momentum has been helped by our star brands Splendor and Passion and also by the new products. Our recently-introduced five-year warranty and our brand campaigns have also created customer preference for the Hero two-wheelers.
"Our factories have been working to capacity to meet the added demand in this festive season. With Dhanteras and Diwali in November, we are prepared to maintain this retail momentum going forward. Thanks to an improved market sentiment and our 15 new offerings lined-up for a phase-wise launch in the coming months, we are planning to bring even more excitement to the marketplace. Our vast network of over 5500 touch points across the country, strong presence in the rural markets and above all, the trust of customers in us and our products have been the big differentiators for us," he added.
Demonstrating its capability to develop indigenous technologies, HMCL recently showcased next-gen features and innovations to be introduced in its new product line-up, namely, i3S Technology (Idle Stop & Start System) for two-wheelers which will soon make its debut in the all-new Splendor iSmart; Integrated Braking System (IBS) that is being introduced in the all-new Pleasure and Electronic Immobiliser which will debut on the new 150cc Xtreme. Hero has filed for patents for these technological innovations.
Apart from these offerings, HMCL also showcased a series of radical refreshes and variants of existing platforms that include technologically superior & internationally styled Karizma& ZMR, the new 100-cc HF Dawn, HF Deluxe & HF Deluxe Eco; the New 100-cc Splendor Pro and 125-cc Super Splendor; new 100cc Passion Pro, Glamour & Glamour FI. All these models have been re-designed keeping in mind Hero's philosophy of SafeTech, StyleTech and Innovation.
Metal stocks rose on positive economic data in China. China is the world's largest consumer of copper and aluminum. Bhushan Steel (up 0.87%), JSW Steel (up 0.49%), Tata Steel (up 1.06%), Sail (up 0.89%), Hindalco Industries (up 0.87%), Hindustan Zinc (up 0.95%), Sesa Sterlite (up 0.48%) and Jindal Steel & Power (up 1.51%), rose.
Capital goods pivotals gained. L&T (up 0.21%) and Bhel (up 1.19%), gained.
A Chinese services-industry index rose to the highest level this year, adding to evidence the nation's economic rebound is sustaining momentum as leaders prepare to map out a blueprint for reform. The non-manufacturing Purchasing Managers' Index advanced to 56.3 in October from 55.4 in September, the Beijing-based National Bureau of Statistics and China Federation of Logistics and Purchasing said today in Beijing. A number more than 50 indicates an expansion.
US stocks rose on Friday, halting the first two-day drop in the Standard & Poor's 500 Index in three weeks, as optimism about corporate earnings offset concern that improving economic data could prompt the Federal Reserve to trim stimulus.
The Institute for Supply Management's factory index rose at a faster pace than forecast in October, indicating US manufacturing was a source of strength.
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