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Markets have recovered from the choppy trend and are trading at day’s high led by IT, capital goods and financial shares. Meanwhile, firm opening of the European markets have also buoyed the sentiments.
By 14:30, the Sensex gained by 204 points at 25,394 and the Nifty surged by 66 points at 7,600 mark.
The main gainers on the Sensex are Axis Bank, GAIL, Bharti Airtel, ONGC and Coal India.
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Updated at 13:11
Markets are trading in a tight range amid geopolitical concerns and monsoon woes.
At 13:00 PM, Sensex is trading down 2 points at 25,187, while Nifty is trading up 3 points at 7,536.
By 14:30, the Sensex gained by 204 points at 25,394 and the Nifty surged by 66 points at 7,600 mark.
The main gainers on the Sensex are Axis Bank, GAIL, Bharti Airtel, ONGC and Coal India.
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Updated at 13:11
Markets are trading in a tight range amid geopolitical concerns and monsoon woes.
At 13:00 PM, Sensex is trading down 2 points at 25,187, while Nifty is trading up 3 points at 7,536.
The broader markets have outshined the benchmark indices. BSE Mid-cap index is up 0.4% at 9,009 and BSE Small-cap index has surged 0.9% at 9,798.
In the meanwhile, Reserve Bank of India (RBI) Governor Raghuram Rajan said he is not in support of taking regulation of bond markets away from the central bank as the move may hamper development of the market.
Asian Markets:
Asian stock markets are trading weak as the conflict in Iraq deepens and a gas dispute between Ukraine and Russia further dampened the investors' appetite for riskier assets.
Japan’s Nikkie gained 0.2% whereas Straits Times Index is down 0.68%, Hong Kong'Hang Seng Index shed 0.4% and Shanghai Composite Index depreciated 0.9%
Japan’s Nikkie gained 0.2% whereas Straits Times Index is down 0.68%, Hong Kong'Hang Seng Index shed 0.4% and Shanghai Composite Index depreciated 0.9%
Indian Rupee:
The Reserve Bank of India was spotted selling dollars around 60.49/50 rupee levels through state-owned banks to check the rupee's sharp fall. The local currency is currently trading at 60.31 against the US dollar.
Sectors & Stocks:
Some buying activity is seen in sectors such as oil & gas, IT and metal whereas banking, auto, power and pharma are losing sheen on BSE.
ONGC, Bharti Airtel and GAIL are among the gainers, whereas HDFC, M&M, Hindalco, HDFC and Tata Steel are losing sheen on BSE.
Shares of information technology (IT) companies are trading higher for the fourth consecutive trading session as the Indian rupee weakened against the US dollar. TCS, Infosys and Wipro have gained 0.01%-0.6%, each
In auto space, Hero Motocorp, Tata Motors and M&M have lost 0.4%-2.1%, each whereas Maruti Suzuki is up 1.2% as the country's largest car maker intends to offer discounts upto Rs 90,000 on selected models like Alto, Ritz, Wagon R, Ertiga, Sting Ray and SX4.
Shares of oil marketing companies gained momentum in the trade today as the global crude oil prices surged higher on concerns of supply disruption due to ongoing violence in Iraq. ONGC and GAIL have surged 1.5%, each.
Bharti Airtel has surged 1.6% and is the top gainer of this hour.
Among financial stocks, Axis Bank outperforms its peer and is up 0.8% whereas ICICI Bank, SBI and the HDFC twins are down 0.05%-1.8%, each
Midcap and Smallcap stocks:
Ricoh India has tanked 20% to Rs 173 on BSE after the failure of delisting offer announced by Ricoh Asia Pacific Pte, the promoter of the company.
Cairn India Ltd has received approval from a panel set up by the environment ministry to raise oil output to 300,000 barrels per day from 200,000 at its block in Rajasthan state, according to a notice on the ministry website. The stock has surged 1% and is quoting at Rs 370 on the BSE.
