Created: Thursday, 31 July 2014 18:17
On the last day of July, the market indices fell short of gains and reported lowest in the month. National Stock Exchange's benchmark Nifty dropped 0.9 percent which equals 70 points recording the end of day at 7,721.30. Oldest stock exchange of India, i.e. BSE (Bombay Stock Exchange) slipped below the newly 26,000 line ending at 25,894.97 declined by 192.45 points equals 0.7 percent.
The growing and shrinking shares were close in numbers, 57 shares fell over the growing ones. Overall, 1,488 shares fell down, 1,431 expanded and 122 shares stood same in the trade today.
Banks sunk the trading boat today pulling down Nifty by more than 1 percent. The top losing firms in the market included top banks of India, namely SBI, ICICI, HDFC, HDFC bank and Axis bank. Other sector laggards in Sensex included Tata Power, NTPC and M&M.
News in the Day
In the major events of the day, Maruti Suzuki India Limited published net profit of Rs. 762 crore in the first quarter of FY-14. On yearly comparison, the company over performed to the expectations of researchers, recording 20.7 percent growth against FY-13's first quarter results.
Company quoted, "Our localization initiatives with aggressive strategy to lower cost extended sales volume, and new foreign exchange policy improved the bottom-line performance in June."
Maruti's revenue expanded 11 percent amounting to Rs. 11,369 crore in the first quarter of FY 2014 growing over the last year's data of Rs 10,237 crore in corresponding quarter. The rising revenues resulted with surged sales volumes at the rate of 12.6 percent.
The other company sharing the spot light is large scaled engineering major, Hindustan Construction Company (HCC) for positing 41.1 percent higher growth with an extending net profit at Rs. 27.1 crore in the first quarter report of 2014. Company jumped high backed with strong performance at operational level. Operational efficiency of the company improved significantly showing profits overcoming losses.
"It is our fifth consecutive quarter when company is coming out with affirmative reports, hence re-approving the functional strategy of cost controlling, efficient project management and clear focus on asserting management is paying off in consistent performance."
Company's balance is showing a decline in total income from Rs. 1,149.6 crore in the first quarter of last year to Rs. 1,043.5 the corresponding quarter this year. Expenses side of the balance sheet summed up lowered by 25.8 percent to Rs.823.9 crore in the quarter.
Indian currency reported lowest in the past three-months as the state bank continued to buy dollars to balance the peg marked for INR. Rupee recorded 60.56 per dollar at its three-month low. In the last script, the currency traded at 60.5150/52.
Created: Wednesday, 30 July 2014 10:58
Market indices of India are trading low in the market as retail investors are closing profits on selling their position before the monthly expiry dated tomorrow in the derivative dealings. Corporates are reporting unexpectedly lower profits which triggered high sales of positions in the market during the week of July.
Nifty and Sensex opened flat on Wednesday morning as Tuesday night flew off peacefully without any big global cues shaking the markets. Nifty opened red at 7,746 lowered by three points whereas Sensex was green hiked by 14 points valued at 26005.
Further, in the morning trade both the indices of fell down marking red pointers. Nifty lost 7.55 points testing the limits at 7,741.15 points, BSE Sensex dropped steeply by 25.85 points as sellers infused in the market using their positional advantages bringing sensex to 25,965.38 points.
Cumulative reports by market investors and researchers said that markets are looking at further falls in the market as stocks of India are losing benchmarks in global markets as well.
Asian stocks are running the bulls becoming star players in the world markets for the fourth-day in a row. Asian country's benchmark indices broke six-year records expanding gains before US central monetary authority updated the markets. European markets, overshadowed Asian markets, rising above Russian stocks.
BSE segmented indices reflected biggest dip in capital goods as the index shed 4.22 percent in a day. Other major contributors in the red zone included metals falling by 0.63 percent, health care services slipped 0.19 percent and auto segment dropped by 0.17 percent.
Oil, Gas and Consumer Durables topped in the green list of BSE Sensex climbing up by 0.87 percent and 0.99 percent respectively. FMCG and TECk jumped up by 0.52 percent each supporting the falling index.
Top gainers in Sensex listed ITC, Bharti Airtel, ONGC, GAIL and Hero Motocorp and SSLT, Tata Power, L&T, Tata Steel and Tata Motors topped the laggards list on Wednesday.
Economical compilations showed an improvement in customer sentiments in the American markets though, the home loans experienced the same slow flow hampering its growth.
The Federal Reserve raised speculations that it might interfere in bond dealings and entering the bond-buying program again.
US is going to publish its second quarter growth report today amid government is preparing the labor report hiked by more than 231,000 jobs in the month of July.
Highlighting in the Asian Trade, Nikkei 225 climbed 31 points, i.e. 0.2 percent standing firm at 15,649. Hong Kong's benchmark index HSI flew 185.16 points, i.e. by 0.75 percent stopped at 24,825.69.