Markets Trading Higher, Piramal Enterprise Gains 8.89%
DSIJ Intelligence / 11 Dec 2012
The Indian markets opened with a spike, but the gains are expected to see mild moderation.
| Benchmark Indices | ||
|---|---|---|
| Index | Rate | % Change |
| Hang Seng | 22296 | 0.09 |
| Nikkei | 9525 | -0.09 |
| Shanghai | 2075 | -0.42 |
| SENSEX | 19511.14 | 0.52 |
| NIFTY | 5933.3 | 0.41 |
The markets opened positive today, supported by global and domestic developments. Globally, the sentiment has been positive due to expectations that the Federal Reserve will extend the treasury buying portion of its easing programme into next year. Domestically, the passage of multi-brand retail FDI and a bill relating to debt recovery has improved sentiments over the clearance of other bills in Parliament. With these cues in play, the Sensex is trading higher by 101.45 points or 0.52% at 19511.14 and Nifty is up 24.40 points or 0.41% at 5933.30.
The market breadth, however, is slightly negative with 1174 (41.76%) advances and 1501 (53.40%) declines. This has resulted from significant losses in midcaps and smallcaps. The BSE midcap and smallcap indices are trading lower by 0.93% and 0.30% respectively.
Of the 13 sectoral indices, only 4 are trading higher. The highest gains are currently seen in FMCG, Healthcare and IT, which have moved up by 1.43%, 0.23% and 0.11% respectively.
The share prices of Hindustan Unilever and United Breweries have been pushing the FMCG sector higher with gains of 3.53% and 3.79% respectively.
Piramal Enterprises has gained 8.89% so far today on the back of the announcement that it is set to acquire UK-based market analytics and market access solutions firm Abacus International through its subsidiary. The stock has gained tremendously in the last 6 trading sessions and continues to do so.
Hexaware Tech recently announced that it would achieve revenues of USD 92 million in Q42012. This has been a downward revision from the earlier guidance of USD 94.7-96.5 million. The company has cited unforeseen changes to a project plan in a large engagement for a customer as well as Hurricane Sandy for the lower estimate. The stock is currently trading lower by 2.82%.
The peer Asian stocks have opened on a negative note. While the Nikkei and Shanghai continue to be range-bound and negative, Hang Seng is trading higher by 0.09%.
Overall, we expect the appreciation seen in the morning to moderate to some extent over the day.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.