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Tuesday, 12 August 2014

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Sensex opens above 25,700; Tata Motors zooms 7%

witnessed a positive start as tensions eased slightly in Ukraine coupled with gains led by Index heavyweight Tata Motors. At 9.20 hrs, the is up 177 points at 25,696 and the has gained 43 points at 7,669.
Both the mid and smallcap indices up 0.4% each.
The market breadth is positive on BSE. 739 stocks advanced while 227 stocks declined.
Global Markets:
Asian shares edged higher on Tuesday tracking rallies in the United States and Europe as investors seemed to put aside geopolitical concerns, at least for the moment.
MSCI's broadest index of Asia-Pacific shares outside Japan . Japan's Topix rose 0.4 percent, while the Nikkei firmed 0.3 percent and  SGX Nifty is quoting at 7,687 up by 45.50 points.
None of this seemed to faze Wall Street, where the Dow rose 0.10 percent, while the S&P 500  gained 0.28 percent and the Nasdaq 0.70 percent.
Back home, the government is expected to unveil industrial production data for June 2014 later during the day. In addition, the government is also scheduled to announce data on inflation based on the combined consumer price index (CPI) for rural and urban India for July 2014 today.
 Meanwhile, Foreign portfolio investors (FPIs) sold shares worth a net Rs 162.92 crore on Monday, 11 August 2014, as per provisional data from the stock exchanges.
Results calendar:
Aditya Birla Nuvo, Apollo Hospitals Enterprise, BEML, Bharat Heavy Electricals, Bhushan Steel, BPCL, Britannia Industries, Coal India, Engineers India, Essar Oil, Gillette India, GlaxoSmithKline Pharmaceuticals, Indian Oil Corporation, Jaiprakash Associates, MOIL, Motherson Sumi Systems, NMDC, Oil India, Procter & Gamble Hygiene & Health Care, Shipping Corporation of India, Sun Pharmaceutical Industries, Tata Power, VST Industries and Wockhardt, among others are expected to announce April-June 2014 quarter results today later during the day.

Sectors and Stocks:
On the sectoral front, barring IT and Teck indices, all other sectors are trading in green. Auto index is leadin the rally up 1.7%, followed by Realty and Consumer durables indices. Oil and Gas, Healthcare and Power are up between 0.5-1%. 
The auto shares are trading in the positive territory during the early trades. Tata Motors up 7%, Maruti Suzuki, Bajaj Auto and M&M have gined 0.5%. 
Tata Motors has rallied 6% to Rs 475 in early morning deals on National Stock Exchange (NSE) after reporting a robust 213% year-on-year (y-o-y) jump in consolidated net profit at Rs 5,398 crore for the quarter ended June 2014 (Q1), on back of strong demand for new products, growth in volumes, richer product mix and richer geographic mix at Jaguar Land Rover (JLR).
Fresh buying is evident in the financial space, HDFC twins, ICICI Bank and SBI have surged between 0.3-1.5%.
Oil and Gas majors RIL and ONGC are up 0.7% and 0.2%, each.
The metal pocket is trading in green barring Sesa Sterlite. Tata Steel, Coal India and Hindalco are up between 0.3-1.7%.
Power stocks rae hogging limelight in the early trades with NTPC and Tata Power have gained 1.6% and 1%, each.
GAIL India Ltd, the state-owned gas transmission utility, posted a 23 per cent decline in net profit for the quarter ended June on costly liquefied natural Gas (LNG) imports.
The company recorded a net profit of Rs 621 crore during the quarter as against Rs 808 crore in the year-ago period. It’s underrecoveries on inventory of LNG stood at Rs 190 crore, as key customers switched to other low-cost suppliers like Shell and GSPC.
Sun Pharma, Cipla and L&T are some of the prominent names in green up nearly 1%.
On the flips side, TCS is down 0.6% while Index heavyweight Infosys is trading marginally in red.
BHEL and Bharti Airtel are some of the notable names in red down 1%.

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