Hindustan Unilever hits record high as Unilever hikes stake through open offer

 After a firm first half, key benchmark indices trimmed gains in second half of the day's trading session as European stocks dropped as investors turned cautious ahead of the key US nonfarm payroll data due later in the global day. The Sensex was up 84.98 points or 0.44%, off 144.45 points from the day's high and up 18.08 points from the day's low. The market breadth, indicating the overall health of the market, was positive. Indian stocks held positive zone as trading in US index futures indicated a firm opening of US stocks on Friday, 5 July 2013.

Indian stocks gained for second day in a row today, 5 July 2013. The Sensex gained 318.06 points or 1.66% from a recent low of 19,177.76 on 3 July 2013. The Sensex has gained 100.01 points or 0.52% in first week of July 2013 (till 5 July 2013). The Sensex has gained 69.11 points or 0.36% in calendar 2013 so far (till 5 July 2013). From a 52-week high of 20,443.62 on 20 May 2013, the Sensex has fallen 947.80 points or 4.64%. From a 52-week low of 16,598.48 on 26 July 2012, the Sensex has surged 2,897.34 points or 17.46%.

Coming back to today's trade, index heavyweight and cigarette major ITC pared gains in late trade. Many FMCG stocks rose. Shares of FMCG giant Hindustan Unilever (HUL) scaled a record high after Anglo-Dutch parent Unilever on Thursday, 4 July 2013, said it has raised its stake in HUL to 67.28% from 52.48% through a voluntary open offer for HUL shareholders. Reliance Industries edged higher. NTPC was almost unchanged after a block deal of 10 lakh shares was struck on the counter on BSE. Telecom stocks were mostly lower. In pharma pack, Wockhardt tumbled in volatile trade.

Metal and mining stocks were mostly higher amid expectations for easy monetary conditions at global central banks. Realty stocks declined in volatile trade. Sugar shares gained on reports the government has decided to hike import duty on sugar to 15% from the current 10% in order to curb shipments. UB group shares were mostly higher after United Spirits said that Diageo has completed the acquisition of additional 14.98% stake in United Spirits. Bank stocks were mixed.

The rupee weakened on Friday, 5 July 2013, following other Asian currencies, as dollar rallied on indications from central banks in Europe that ultra-low rates will continue in the region. The rupee was hovering at 60.30, weaker than Thursday's close of 60.13. The rupee had hit record low of 60.76 in intraday deals on 26 June 2013.

Prices of government bonds fell. The yield on the most traded 08.2% GS 2025 was hovering at 7.6781%, higher than Thursday's close at 7.625%. Bond yield and bond prices are inversely related.

Key benchmark indices edged higher in early trade on firm Asian stocks. The barometer index, S&P BSE Sensex, hit four-week high. Key benchmark indices pared gains in morning trade. Key benchmark indices hovered in positive zone in mid-morning trade. Key benchmark indices extended intraday gains in early afternoon trade. Key benchmark indices pared gains to hit intraday low in mid-afternoon trade. Key benchmark indices pared gains in late trade as European stocks dropped as investors turned cautious ahead of the key US nonfarm payroll data due later in the global day. The barometer index, the S&P BSE Sensex, hit intraday low in late trade.

Foreign institutional investors (FIIs) bought shares worth a net Rs 164.56 crore on Thursday, 4 July 2013, as per provisional data from the stock exchanges.

The S&P BSE Sensex was up 84.98 points or 0.44% to 19,495.82, its highest closing level since 1 July 2013. The index jumped 229.43 points at the day's high of 19,640.27 in early trade, its highest level since 7 June 2013. The index rose 66.90 points at the day's low of 19,477.74 in late trade.

The CNX Nifty was up 30.95 points or 0.53% to 5,867.90, its highest closing level since 1 July 2013. The index hit a high of 5,900.45 in intraday trade, its highest level since 1 July 2013. The index hit a low of 5,858.45 in intraday trade.