Markets trading in a tight range

 

Key share indices continue to remain volatile in a narrow range, oscillating between negative and positive terrain.

 

By 12:30, the 30-share Sensex was up 10 points at 20,001 and the 50-share Nifty was up 4 points at 6,054.

On the global front, Asian stocks edged higher on Wednesday, 30 January 2013, ahead of a policy decision from the US Federal Reserve, while selected Japanese shares benefitted from smartphone exposure. Nikkei has gained 1.2% at 10,998. Hang Seng, Straits and Kospi are also in the green.

Back home, the Indian rupee firmed up by 24 paise to 53.53 against the American currency in the late morning trade on persistent selling of dollars by banks and exporters on hopes of more foreign capital inflows in view of strong equity market.

 

On the sectoral front, BSE Consumer Durable index has surged by almost 2% followed by counters like Realty and Oil & Gas, all gaining by 1% each. However, BSE Power, Capital Goods and FMCG indices have declined by nearly 1% each.

The main gainers on the Sensex at this hour include Cipla, HUL, Sterlite, RIL, Tata Steel, Maruti Suzuki, ICICI Bank and ONGC, all gaining between 1-2%.

Among losers, GAIL, Tata Power, ITC, Tata Motors, BHEL, NTPC, SBI, Bharti Airtel and HDFC have fallen between 1-3%.

Among other shares, Shasun Pharmaceuticals has soared 10% to Rs 113 on NSE, extending its previous day’s 11% rally, after the company said that it have a robust sales plan and growth strategy in place for the next three years, based on a wide range of pipeline and marketed products.

Shares in Idea Cellular Ltd shares fall as much as 2.6% after the mobile phone carrier posted weaker-than-expected October-December net profit.

Pidilite Industries has soared almost 8% to Rs 232 on back of heavy volumes after reporting 51% year-on-year (yoy) jump in its consolidated net profit at Rs 119 crore in December 2012 quarter (Q3), due to higher other income and lower interest cost.

The market breadth in BSE remains unhealthy with 1,373 shares declining and 1,067 shares advancing.