 "Markets continue lacklustre trades; Oil stocks lead")
Markets continued to move sideways as traders rolled over positions from the near month June series to the next July series. The Nifty was up 54 points at 5,643. Sensex, meanwhile, was up 172 points ta 18,724.
India's current account deficit moderated sharply to 3.6% of GDP in fourth quarter in FY 13 from historic high of 6.7% in third quarter of same year.
Meanwhile in Asia, Japan's Nikkei share average rose above 13,000 on Thursday, bouncing back from a three-day losing streak, as fears of a U.S. stimulus pullback and a Chinese credit crunch eased.
According to provisional data, Fforeign institutional investors (FIIs) sold shares worth a net Rs 547.79 crore on Wednesday.
IT stocks rose on a weak rupee. The rupee had slumped to an all time low of 60.72 on Wednesday but recovered to 60.36 against the dollar this morning. BSE IT index was up 1.3% at 6095.
Shares of oil and gas companies are in limelight ahead of Cabinet Committee on Economic Affairs (CCEA) meeting today to decide on raising natural gas prices for the first time in three years. The oil & gas index was up 2.5% at 8554.
Oil and Natural Gas Corporation of India (ONGC), Reliance Industries, Oil India, Cairn India and Gail India are trading higher in the range 2-3% on the Bombay Stock Exchange (BSE).
NTPC has slipped 1.7% at Rs 139. Jindal Steel, Maruiti Suzuki and Wipro shed 0.8-1.7% each. On the other hand, Bajaj Auto has added 3.5% at Rs 1849. ONGC, Reliance, HDFC Bank and Mahindra & Mahindra were among the key gainers.
India's current account deficit moderated sharply to 3.6% of GDP in fourth quarter in FY 13 from historic high of 6.7% in third quarter of same year.
Meanwhile in Asia, Japan's Nikkei share average rose above 13,000 on Thursday, bouncing back from a three-day losing streak, as fears of a U.S. stimulus pullback and a Chinese credit crunch eased.
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"It is just a pull back or short covering witness just ahead of June series. On charts, Nifty is trading in downward sloping channel on daily charts which is bearish in nature. Downtrend may continue for coming days till nifty hold and trade below 5800," said Mudit Goyal, technical analyst, SMC Global.
According to provisional data, Fforeign institutional investors (FIIs) sold shares worth a net Rs 547.79 crore on Wednesday.
IT stocks rose on a weak rupee. The rupee had slumped to an all time low of 60.72 on Wednesday but recovered to 60.36 against the dollar this morning. BSE IT index was up 1.3% at 6095.
Shares of oil and gas companies are in limelight ahead of Cabinet Committee on Economic Affairs (CCEA) meeting today to decide on raising natural gas prices for the first time in three years. The oil & gas index was up 2.5% at 8554.
Oil and Natural Gas Corporation of India (ONGC), Reliance Industries, Oil India, Cairn India and Gail India are trading higher in the range 2-3% on the Bombay Stock Exchange (BSE).
NTPC has slipped 1.7% at Rs 139. Jindal Steel, Maruiti Suzuki and Wipro shed 0.8-1.7% each. On the other hand, Bajaj Auto has added 3.5% at Rs 1849. ONGC, Reliance, HDFC Bank and Mahindra & Mahindra were among the key gainers.