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The markets continue to trade in the negative territory post the declaration of the wholesale price index (WPI)-based inflation data.
WPI inflation eases to 4-month low of 5.43% in the month ofJune from 6.01% last month as food prices cooled a little, according to data released today.
At 12.15 PM, the Sensex is trading at 24,960 levels lower by 64 points and the Nifty is trading at 7,442 levels lower by 17 points.
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(updated at 12.20 PM)
The markets are trading in a narrow range with a negative bias as the losses in IT majors cap gains in oil and gas shares.
The financials, capital goods and oil and gas shares are witnessing buying,whereas heavy selling is visiible in the technology shares and select metal shares.
At 10.50 AM, the Sensex is trading at 24,997 levels lower by 27 points and the Nifty is trading at 7,453 levels down by 6 points.
BSE Midcap is trading flat with positive bias whereas BSE Smallcap is down by 0.12%
Local Currency:
The rupee is steady at 59.93/94 compared to Friday's close, as the stock market trades flat on back of foreign investor sales, even as Asian currencies trade mixed against the dollar.
Among sectoral indices, BSE Realty is leading the rally followed by Power, Auto, Oil and Gas indices. However, BSE IT, Consumer Durables and FMCG are losing sheen on the BSE.
On the back of strong IIP numbers which were released on friday, metal and capital goods shares are witnessing fresh buying. L&T, BHEL, Hindalco, Tata Steel are up between 0.5-2.6%
The banking space is trading in green with Axis Bank, ICICI Bank, HDFC twins and SBI up between 0.19-1.4% after several investor-friendly reforms were introduced in the Budget.
Oil and Gas shares are trading in the positive territory. ONGC, GAIL and RIL have gained between 0.18-0.7%
The Auto space is witnessing fresh buying with Tata motors, Baja Auto, Hero Motocorp and M&M up between 0.2-0.8%
Among other notable gainers are TCS, Sun Pharma and Tata Power
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(updated at 11.00 AM)
The Sensex and the Nifty are trading in the negative territory as investors resort to profit-booking as stocks had risen to very high levels in the pre-budget
At 9.50 AM, the Sensex is trading at 24,986 levels down by 38 points and Nifty is trading at 7,449 levels lower by 38 points.
Investors are likely to shift their focus to WPI and CPI numbers and progress of monsoon for further cues. Industrial production recorded 4.7% growth in May 2014 and is likely to benefit Capital goods and Metal shares.
On sectoral front, barring BSE IT, Healthcare and Consumer Durables indices, all other indices are trading in green. Consumer Durables index is the top loser whereas, Capital Goods index is the top gaining index.
India's second largest IT services provider Infosys which gained nearly 5% on Friday post the declaration of its Q1 results is trading in red on profit taking, down 3.4%. Wipro adds 0.7% to the decline
Metal pack is also witnessing heavy selling with Sesa Sterlite and Coal India down between 1.1-1.6%
The healthcare index is down 0.6%. SunPharma, Dr Reddy’s Lab and Cipla have declined between 0.8-1.7%
Among other notable losers are Bharti Airtel, SBI, ICICI Bank and NTPC
On the flip side, Tata Power is up by 1.4% after the company has decided to pursue aggressive growth plans and has sought shareholders’ nod to raise up to Rs 7,000 crore through issue of non-convertible debentures (NCDs). Besides, the leading private power utility has proposed increasing its borrowing limit to Rs 27,000 crore.
Some fresh buying is visible in the oil and gas space with RIL, ONGC and GAIL up 0.5%
Index heavyweight ITC has gained 0.3% on renewed buying.
Among other distinguished gainers are L&T, Axis Bank, Hindalco and BHEL.
The auto stocks are trading in the positive territory with M&M, Hero Motocorp, Baja Auto and Tata Motors up between 0.3-0.4%
HDFC twins are also witnessing some buying up between 0.2-1.3%
Asian Markets
sian share markets edged higher on Monday as euro zone banking jitters faded, to be replaced by caution ahead of corporate earnings and a raft of global economic events including testimony from the head of the Federal Reserve.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was up 0.2 percent, with Seoul .KS11 putting on 0.4 percent. Japan's Nikkei .N225 rose a modest 0.2 percent after several sessions of losses.
The market breadth is weak with 1,066 shares declining and 664 shares advancing.
