 "Lacklustre trades continue as auto shares fall")
Markets continued to trade in the green, albeit off the day's highs as selling pressure was seen in FMCG and consumer durables sectors. The BSE Sensex was up 26 points at 18,253. Nifty was flat at 5,501.
Meanwhile, Japan's Nikkei average rose on Wednesday morning, moving closer to a near five-year high, helped by optimism in the economic outlook since the Bank of Japan started its sweeping monetary expansion campaign. Shares of banks and real estate firms led the gains on expectations that the reflationary policy will benefit them the most.
Broader markets were trading in the red, however. BSE mid-cap index was down 19 points at 6,053. Small-cap index shed 20 points to 5,836.
Capital goods and healthcare indices went up half a per cent each. On the other hand, FMCG and consumer durables indices shed 0.5-1% each. Auto stocks also showed weakness.
HDFC has surged 2.3% at Rs 771. TCS and Wipro from the IT pack have added 1.5% each. Infosys was up 0.8% at Rs 2790 ahead of its results later this week. Among other key gaienrs are Larsen & Toubro, Bajaj Auto and Cipla.
Meanwhile, Hindalco shed 1.7%. Jindal Steel and Hindalco slipped over 1% each. ITC reversed early gains and slipped 1.5% to Rs 283.
Auto shares were also weak. Mahindra & Mahindra, Hero MOtoCorp, Tata Motors and Maruti Suzuki were down 0.5-1% each. Car sales in India fell an annual 6.7% in the financial year that ended in March, their first fall in a decade. Domestic passenger car sales declined by 22.51% to 180,675 units in March this year compared to 233,151 units in the same month of 2012. This was the fifth consecutive monthly slide, an industry body said on Wednesday.
Dr. Reddy's Laboratories (DRL) fell 0.82% on plans to relocate its North America Headquarters and establish a R&D Center in Princeton, New Jersey. Siemens declined 0.71% in spite of news that it has signed a contract worth Rs 104.40 crore with Bangladesh Steels Re-Rolling Mills (BSRM).
GlaxoSmithkline (GSK) Consumer Healthcare is trading lower by 3.5% to Rs 3,935 extending its previous day’s 3% fall after the packaging foods maker said its chairman, Simon Scarff, has expressed his wish to step down from April 30, 2013.
Meanwhile, Japan's Nikkei average rose on Wednesday morning, moving closer to a near five-year high, helped by optimism in the economic outlook since the Bank of Japan started its sweeping monetary expansion campaign. Shares of banks and real estate firms led the gains on expectations that the reflationary policy will benefit them the most.
Broader markets were trading in the red, however. BSE mid-cap index was down 19 points at 6,053. Small-cap index shed 20 points to 5,836.
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The IT index recovered from Tuesday losses and was the top gainer on the list - up 1% at 6,598. The rupee today rose by 14 paise to 54.44 against the dollar at the Interbank Foreign Exchange market on selling of the US currency by exporters and banks.
Capital goods and healthcare indices went up half a per cent each. On the other hand, FMCG and consumer durables indices shed 0.5-1% each. Auto stocks also showed weakness.
HDFC has surged 2.3% at Rs 771. TCS and Wipro from the IT pack have added 1.5% each. Infosys was up 0.8% at Rs 2790 ahead of its results later this week. Among other key gaienrs are Larsen & Toubro, Bajaj Auto and Cipla.
Meanwhile, Hindalco shed 1.7%. Jindal Steel and Hindalco slipped over 1% each. ITC reversed early gains and slipped 1.5% to Rs 283.
Auto shares were also weak. Mahindra & Mahindra, Hero MOtoCorp, Tata Motors and Maruti Suzuki were down 0.5-1% each. Car sales in India fell an annual 6.7% in the financial year that ended in March, their first fall in a decade. Domestic passenger car sales declined by 22.51% to 180,675 units in March this year compared to 233,151 units in the same month of 2012. This was the fifth consecutive monthly slide, an industry body said on Wednesday.
Dr. Reddy's Laboratories (DRL) fell 0.82% on plans to relocate its North America Headquarters and establish a R&D Center in Princeton, New Jersey. Siemens declined 0.71% in spite of news that it has signed a contract worth Rs 104.40 crore with Bangladesh Steels Re-Rolling Mills (BSRM).
GlaxoSmithkline (GSK) Consumer Healthcare is trading lower by 3.5% to Rs 3,935 extending its previous day’s 3% fall after the packaging foods maker said its chairman, Simon Scarff, has expressed his wish to step down from April 30, 2013.