 "Indices remain flat; ONGC gains 1.5%")
Markets continue to remain range bound. The 30-share Sensex was up 4 points and the 50-share Nifty was up 2 points at 25,207 and 7,542 level, respectively.
The broader markets are moving in tandem with their large-cap counterparts. BSE Mid-cap and BSE Small-cap gained 0.2% and 0.16%, respectively.
Global Markets:
Meanwhile, crude futures rose for a second day after US President Barack Obama said he would send 300 military advisers to help Iraq battle rebel Sunni fighters. Japan’s Nikkie rose 0.15% and Hong Kong'Hang Seng Index surged 0.2%.
On the other hand, Straits Times Index is down 0.15% and Shanghai Composite Index dipped 0.12%
Geopolitical Front:
Sunni radicals in Iraq, who have overrun a swathe of territory north of Baghdad in a lightning offensive, have taken control of one of Saddam Hussein's former chemical weapons factories.
The Iraqi government has confirmed the abduction of 40 Indian construction workers in violence-hit Iraq's Mosul area, the Ministry of External Affairs said on Thursday.
Monsoon:
The monsoon has covered half of India's landmass four days behind the usual schedule, failing to recover from a late start that has slowed sowing of summer crops in a country where half of the farmland still lacks irrigation.
Rainfall was 45 percent below average for the week ended June 18, compared with 48 percent below average the previous week, weather office data showed on Thursday.
Rupee:
The rupee today lost 18 paise to 60.26 against the dollar in early trade at the Interbank Foreign Exchange market due to increased demand for the US currency from importers.
Sectors & Stocks:
In banking sector, ICICI Bank, Axis Bank and SBI gained between 0.1%-1.3% whereas HDFC twins lost 0.07%-0.3%
Among Oil & Gas shares, ONGC and GAIL gained 1.2% and 0.08%, each as government expects oil prices to rise as high as $120 per barrel for several months because of fighting in Iraq.
IT pack which experienced an upsurge yesterday is witnessing losses on the account of profit booking. Infosys and Wipro are down 0.2% and 0.3%, respectively
Among capital goods stocks, BHEL and Larsen are down 0.06% and 0.7%, each. In the metal pocket, Sesa sterlite and Hindalco lost 0.2% and 0.9%, each. On the losing side, Sun Pharma lost 1.8%
In power space, Tata Power which recently crossed the milestone of 500MW renewable energy capacity with the commissioning of solar plant at Palaswadi in Maharashtra and was on the gaining side yesterday has lost 2.3%. In contrast, its peer NTPC is up 0.4%
However, gains in srips such as Axis Bank, Cipla, ONGC, SBI, ICICI Bank and Bajaj Auto trimmed Sensex’s losses.
The Mumbai-based Cipla has collaborated with Hetero Drugs to launch a biosimilar version of ‘Darbepoetin alfa’ under the brand name ‘Actorise’. The co-marketing deal offers Cipla a license to make the drug for Indian market. The product is indicated for the treatment of anaemia caused due to chronic kidney disease. Cipla is the biggest gainer of this hour and is up 1.5%
Auto shares are trading mixed with Bajaj Auto, Maruti Suzuki and Hero Motocorp up between 0.1-0.8% ,whereas M&M and Tata Motors are down 0.7%
Buzzing Stocks:
Shares in Natco Pharma has soared 18% to Rs 1,211 extending its past two week rally on BSE, on back of heavy volumes.
ICRA has surged 17% to Rs 2,780, also its record high on NSE, after Moody’s Corporation, the promoter of the company, said that it has secured a majority equity ownership stake in credit rating agency to over 50%.
The broader markets are moving in tandem with their large-cap counterparts. BSE Mid-cap and BSE Small-cap gained 0.2% and 0.16%, respectively.
Global Markets:
Also Read
Asian markets are trading mixed as conflict in Iraq overshadows another record close on Wall Street overnight. US stocks moved in a narrow range on Thursday, but the S&P 500 managed to crawl up to a second straight record high.
Meanwhile, crude futures rose for a second day after US President Barack Obama said he would send 300 military advisers to help Iraq battle rebel Sunni fighters. Japan’s Nikkie rose 0.15% and Hong Kong'Hang Seng Index surged 0.2%.
On the other hand, Straits Times Index is down 0.15% and Shanghai Composite Index dipped 0.12%
Geopolitical Front:
Sunni radicals in Iraq, who have overrun a swathe of territory north of Baghdad in a lightning offensive, have taken control of one of Saddam Hussein's former chemical weapons factories.
The Iraqi government has confirmed the abduction of 40 Indian construction workers in violence-hit Iraq's Mosul area, the Ministry of External Affairs said on Thursday.
Monsoon:
The monsoon has covered half of India's landmass four days behind the usual schedule, failing to recover from a late start that has slowed sowing of summer crops in a country where half of the farmland still lacks irrigation.
Rainfall was 45 percent below average for the week ended June 18, compared with 48 percent below average the previous week, weather office data showed on Thursday.
Rupee:
The rupee today lost 18 paise to 60.26 against the dollar in early trade at the Interbank Foreign Exchange market due to increased demand for the US currency from importers.
Sectors & Stocks:
In banking sector, ICICI Bank, Axis Bank and SBI gained between 0.1%-1.3% whereas HDFC twins lost 0.07%-0.3%
Among Oil & Gas shares, ONGC and GAIL gained 1.2% and 0.08%, each as government expects oil prices to rise as high as $120 per barrel for several months because of fighting in Iraq.
IT pack which experienced an upsurge yesterday is witnessing losses on the account of profit booking. Infosys and Wipro are down 0.2% and 0.3%, respectively
Among capital goods stocks, BHEL and Larsen are down 0.06% and 0.7%, each. In the metal pocket, Sesa sterlite and Hindalco lost 0.2% and 0.9%, each. On the losing side, Sun Pharma lost 1.8%
In power space, Tata Power which recently crossed the milestone of 500MW renewable energy capacity with the commissioning of solar plant at Palaswadi in Maharashtra and was on the gaining side yesterday has lost 2.3%. In contrast, its peer NTPC is up 0.4%
However, gains in srips such as Axis Bank, Cipla, ONGC, SBI, ICICI Bank and Bajaj Auto trimmed Sensex’s losses.
The Mumbai-based Cipla has collaborated with Hetero Drugs to launch a biosimilar version of ‘Darbepoetin alfa’ under the brand name ‘Actorise’. The co-marketing deal offers Cipla a license to make the drug for Indian market. The product is indicated for the treatment of anaemia caused due to chronic kidney disease. Cipla is the biggest gainer of this hour and is up 1.5%
Auto shares are trading mixed with Bajaj Auto, Maruti Suzuki and Hero Motocorp up between 0.1-0.8% ,whereas M&M and Tata Motors are down 0.7%
Buzzing Stocks:
Shares in Natco Pharma has soared 18% to Rs 1,211 extending its past two week rally on BSE, on back of heavy volumes.
ICRA has surged 17% to Rs 2,780, also its record high on NSE, after Moody’s Corporation, the promoter of the company, said that it has secured a majority equity ownership stake in credit rating agency to over 50%.