Key benchmark indices were hovering in a narrow range in early afternoon trade. At 12:16 IST, the barometer index, the S&P BSE Sensex, was up 72.47 points or 0.23% at 31,521.50. The Nifty 50 index was up 14.95 points or 0.15% at 9,809.10.
Among secondary barometers, the BSE Mid-Cap index was up 0.51%. The BSE Small-Cap index was up 0.76%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. 1,394 shares rose and 921 shares fell. A total of 99 shares were unchanged.
FMCG shares were mixed. Hindustan Unilever (up 1.81%), Colgate Palmolive (India) (up 1.34%), Britannia Industries (up 1.22%), GlaxoSmithKline Consumer Healthcare (up 0.59%), Dabur India (up 0.29%) and Nestle India (up 0.12%), edged higher. Godrej Consumer Products (down 0.06%), Bajaj Corp (down 0.13%), Jyothy Laboratories (down 0.3%), Procter & Gamble Hygiene & Health Care (down 0.4%) and Marico (down 0.91%), edged lower.
Tata Global Beverage rose 7.72% to Rs 192.50 after the company said that the premium natural mineral water brand Himalayan will enter the USA market in a phased manner, through an agreement signed by its subsidiary with Talking Rain Beverage Company, the maker of Sparkling Ice flavored sparkling waters to distribute and market the brand. This makes Himalayan one of the first premium Indian FMCG brands to target the broader American audience. The announcement was made on Tuesday, 15 August 2017, when market remained closed for holiday.
Jubilant FoodWorks was up 2.79% to Rs 1,402 on reports that a foreign brokerage has increased the target price on the stock to Rs 1,900 from Rs 1,600. As per reports, the foreign brokerage has also raised the target PE multiple on Jubilant FoodWorks to 60, from 55.
Realty shares were mixed. Prestige Estates Projects (up 4.73%), Phoenix Mills (up 4.30%), Unitech (up 2.66%), Sobha (up 2.04%), Indiabulls Real Estate (up 1.08%), Mahindra Lifespace Developers (up 0.96%), Godrej Properties (up 0.85%), Peninsula Land (up 0.81%) and Sunteck Realty (up 0.18%), edged higher. D B Realty (down 0.14%), Anant Raj (down 0.19%), Housing Development and Infrastructure (HDIL) (down 0.4%), Oberoi Realty (down 1.03%), Omaxe (down 1.37%), DLF (down 2.51%) and Parsvnath Developers (down 9.93%), edged lower.
Kolte-Patil Developers gained 2.59% after the company announced that it has successfully completed a strategic divestment of its land parcel in Wakad, Pune for Rs 161 crore. The strategic sale has been undertaken after evaluating the overall feasibility and is in line with the company's strategy of maintaining a lean balance sheet. The company will continue to explore strategic partnerships under asset light models to enhance its overall portfolio and position the company for sustained growth. The announcement was made after market hours on Monday, 14 August 2017. The market was shut on 15 August 2017 on account of holiday.
Simplex Infrastructures surged 6.6% after net profit spurted 67% to Rs 28.73 crore on 7.4% increase in net sales to Rs 1511.89 crore in Q1 June 2017 over Q1 June 2016. Earnings before interest, tax, depreciation and amortization (EBITDA) increased by 7% to Rs 198 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours on Monday, 14 August 2017.
On the macro front, the all-India general Consumer Price Index (CPI)-based inflation rebounded 2.36% in July 2017, compared with 1.46% in June 2017. The data was released after market hours on Monday, 14 August 2017.
Data released after market hours on Monday, 14 August 2017, by the commerce ministry showed that goods exports rose for the twelfth consecutive month with shipments in July registering a 3.94% year-on-year growth to $22.54 billion. Goods imports in July recorded 15.42% to $33.99 billion the slowest pace since 1.13% growth in January 2017. This led to trade deficit (goods) narrowing on a month-on-month basis to $11.45 billion, the lowest since $10.5 billion recorded in March 2017.
Overseas, Asian shares were mixed as investors digested earnings releases from regional corporates.
In US, the main benchmarks ended little changed overnight amid better-than-expected retail sales data and an abatement of tensions between the US and North Korea. The Dow Jones Industrial Average finished up 5.28 points, or less than 0.1%, at 21,998.99. The S&P 500 index declined 1.23 points to finish at 2,464.61. The Nasdaq Composite Index slipped 7.22 points, or 0.1%, to close at 6,333.01.
US retail sales recorded their biggest increase in seven months in July as consumers boosted purchases of motor vehicles as well as discretionary spending, suggesting the economy continued to gain momentum early in the third quarter. The Commerce Department said on Tuesday, 15 August 2017, that retail sales jumped 0.6% last month. That was the largest gain since December 2016 and followed June's upwardly revised 0.3% rise.
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