After a flat opening, markets gathered pace in the late trades to finish firm led by buying in Index heavyweight shares. Meanwhile, participants are cautiously awaiting for the US Federal Reserve meet scheduled to commence later today.
Provisionally, the BSE Sensex gained 170 points to end at 25,320 and the Nifty50 climbed 51 points to close at 7,701
___________________
(updated at 3:05 PM)Markets have recovered from the choppy session and have extended gains led by buying among index heavyweights like RIL, ITC and select auto shares.
At 15:00 pm, the S&P BSE Sensex has surged 185 point to trade at 25,335 and the Nifty50 has gained 52 point at 7,703.
Meanwhile, traders continued to adopt wait-and-watch stance ahead of the US Federal Reserve meeting which begins later today. as the US central bank is widely expected to raise interest rates.
The top gainers from the Sensex pack are HUL, ONGC, Lupin, Reliance Inds, Tata Motors and ITC.
__________________________
(Updated at 1:25pm)
Markets remained rangebound as traders turned cautious ahead of the US Federal Reserve's two-day meet starting later today in which the US central bank is widely expected to raise interest rate.
At 1:25 pm, the S&P BSE Sensex has climbed 46 point to trade at 25,196 and the Nifty50 has gained 6 point at 7,656.
The US Fed Reserve is widely expected to raise the interest rates for the first time in almost a decade thus signalling signs of recovering in the world’s largest economy.
More From This Section
Back home, the consumer price index (CPI) data released by the government after market hours on Monday showed that the consumer inflation hit a 5-month of 5.41% in November.
KEY STOCKS
KEY STOCKS
FMCG majors HUL and ITC continue to trade higher and hace shrugged off the rise in CPI numbers. HUL, ITC have gained 0.6%-1.5%.
Meanwhile, the energy stocks have firmed up after crude prices steadied on Tuesday, however, supply glut fears continues to linger. ONGC, Reliance Industries, Gail (India), Cairn India have gained between 0.1%-1.1%.
Among individual names, Sun Pharma is up 1.2% after the company announced the divestment of its Bryan, Ohio, US manufacturing unit following an agreement Nostrum Laboratories Inc.
Among the auto stocks, M&M, Maruti Suzuki which declined on concerns that the proposed ban on diesel vehicles by the NGT in Delhi could have a domino effect on other states have bounded on fresh buying interest and have gained between 0.7%-1%. Meanwhile, M&M has entered into agreement to purchase controlling stake in Pininfarina which further lifted the stock higher.
On the losing end, banks are losing sheen as prospects of a US interest rate hike by the Federal Reserve along with rising retail inflation data back home may hint the RBI to keep the rates unchanged. ICICI Bank, SBI and HDFC twins have lost between 0.1%-1.5%.
Metal stocks are also trading reeling under pressure on the back of falling commodity prices. Vedanta, Tata Steel and Hindalco have slipped between 0.8%-2%.
Among other prominent losers include BHEL, NTPC, Wipro and Coal India slipping between 0.4%-1.5%.