Markets open flat ahead of Oct WPI; Nifty above 8,350

Main gainers on the Sensex are Tata Motors, Wipro, Bajaj Auto, SBI & TCS

Markets are trading on a choppy note with Sensex and Nifty swinging between negative and positive zone tracking mixed global cues. 

 

By 9:30, the Sensex was higher by 27 points at 27,967 mark and the Nifty gained by 8 points at 8,365 levels. 

 

Meanwhile, the government will unveil WPI inflation data for October 2014 today. 

 

Foreign portfolio investors bought shares worth a net Rs 690.61 crore yesterday, as per provisional data.

 

On the global front, Asian stocks have slipped following fresh signs of slowing Chinese growth, while crude oil hovered near a four-year low in an oversupplied market.

 

MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.25 percent.

 

The index has been confined to a narrow range this week as the U.S. economy outperforms the euro zone and China.

 

China's economy lost further momentum in October, with factory growth dipping and investment growth hitting a near 13-year low.

 

Back home, BSE Auto and Realty indices have gained by nearly 1% each. However, BSE Power index has slipped by almost 1%. 

 

The main gainers on the Sensex are Tata Motors, Wipro, Bajaj Auto, SBI, TCS, ITC, Hero Moto and ONGC. 

 

On the losing side, Tata Power, Sun Pharma, BHEL, HUL and Sesa Sterlite have slipped between 1-3%. 

 

Tata Power is the top Sensex loser, down over 3%. The company’s revenue has declined on lower revenue generation from stand-alone power businesses, according to its July-September quarter results. 

 

Sun Pharmaceutical has slipped by over 1%. The company reported a good set of numbers for the quarter ending September, led by strong US sales growth boosted by its subsidiary Taro. The company, however, disappointed on net profit due to lower other income. It reported net profit of Rs 1,572 crore, up 15 per cent y-o-y, slightly lower than street expectation of Rs 1,594 crore.

 

The broader markets are outperforming the benchmark indices- BSE Mid-cap and Small-cap indices have gained between 0.2-0.3%. 

 

The market breadth in BSE remains positive with 954 shares advancing and 635 shares declining. 

(With Reuters Input)