)
The markets have slipped further in the the negative territory weighed down by weakness in Indexheavyweights RIL, TCS and HDFC twins.
By 11:00, the Sensex was lower by 110 points at 26,016 mark and the Nifty declined by 31 points at 7,759 levels.
Sectors and Losers
BSE Metal index is the biggest loser, followed by FMCG, Healthcare, Oil and Gas indices down between 0.5-1%. However, Bse Caapital goods, Auto and Power indices are marginally in green.
Coal India, RIL, TCS, Hindalco and HDFC are the top 5 losers on the BSE.
__________________________________________________
(updated at 11 AM)The markets are trading flat during the early trades as gains in index heavyweights Infosys and SBI offset losses in TCS, RIL and HDFC. Also, investors have become cautious ahead of the key earnings results which are due to be released later during the day.
By 10:05, the Sensex was lower by 2 points at 26,124 mark and the Nifty declined by 2 points at 7,788 levels.
The broader markets are also trading flat with BSE Midcap and Smallcap indices up 0.2% and 0.08% each.
Asian Markets
Asian stocks shrugged off a drop in Wall Street and hovered near three-year highs on Monday, with China taking the lead after data showed a robust jump in profits earned by industrial firms in the world's second-largest economy.
The dollar traded near six-months peaks against a basket of major currencies as the euro continued to sag.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2 percent, close to a three-year high of 509.23 scaled on Friday. China's CSI300 jumped 2.3 percent and the Hang Seng climbed 0.8 percent. Tokyo's Nikkei, which hit a six-month closing high Friday, was up 0.5 percent.
Back Home
L&T, Bank of Baroda and HUL are expected to post their earnings result later during the day.
Meanwhile, overseas investors bought shares worth 1.25 billion rupees ($20.82 million) on Friday, provisional exchange data shows.
Meanwhile, overseas investors bought shares worth 1.25 billion rupees ($20.82 million) on Friday, provisional exchange data shows.
Sectors & Stocks
On the sectoral front, BSE Realty, Oil and Gas and FMCG indices are losing sheen, down between 0.2-1.5%. However, BSE Power index and Bankex are trading positive and are up between 0.1-0.3%. BSE Capital goods, Metal, IT and Healthcare indices are trading flat.
The financial space is witnessing fresh buying during the early trades with Axis Bank, SBI and HDFC Bank up between 0.01-1.5%. However, HDFC is down 1%.
IT majors Infosys and Wipro are up 0.5% and 0.1% each. However, its peer TCS is down 1.2%.
L&T is marginally up ahead of the quarterly results due later during the day. BHEL is up 0.5%.
The metal pack is trading inn green on renewed buying. Hindalco, Tata Steel and SesaSterlite up between 0.1-1%. However, Coal India has lost 1.5%.
The Auto pack is witnessing an upsurge barring Index heavyweight Tata motors and Bajaj Auto. Maruti Suzuki, Hero Motocorp and M&M are up between 0.5-1%.
On the flip side, the index heavy weights ITC, RIL and ICICI Bank are trading in red and are down 0.5%.
The Pharma shares are trading in the negative territory on account of profit taking. Sun Pharma, Dr Reddy’s Lab and Cipla have lost nearly 0.5% each.
Among other shares, Debt-laden Jaiprakash Power Ventures Ltd (JPVL) on Sunday said it had signed a deal to sell its entire hydropower portfolio to Reliance CleanGen, a wholly-owned subsidiary of Anil Ambani-controlled Reliance Power (R-Power). R-Power is up 2%.
Central Bank of India has surged 9% to Rs 73.15 after reporting a nine-fold rise in net profit at Rs 192 crore in the April-June quarter (Q1), aided by a drop in provisions for bad loans and increase in net interest income. The state-owned lender had profit of Rs 22 crore in the same quarter last year.
Eveready Industries has locked in upper circuit of 5% at Rs 89.50, also its 52-week high, in opening deals on BSE after reported a jump of over 157% in its standalone net profit at Rs 10.60 crore for the first quarter ended June 30, 2014.
The market breadth is positive on the BSE with 931 advances and 835 declines.
