 "Markets erase early gains, Midcap index dn 1%")
Benchmark indices have erased early gains and have turned flat weighed down by banking and oil shares. Index heavyweight RIL has dropped by 1%. ONGC is the top Sensex loser, down 3%.
By 11:00 AM, the 30-share Sensex was down 28 points at 19,318 and the 50-share Nifty was down 27 points at 5,715.
On the global front, Asian shares and commodity prices rose on Thursday after China's official manufacturing activity data came in better than expected, easing some concerns of a sharp slowdown in the world's second-largest economy.
Growth in China's manufacturing sector picked up slightly last month and was stronger than market expectations, an official survey showed.
Back home, the rupee today fell by 10 paise to 60.50, after slumping to 60.84 in a volatile early trade on the Interbank Foreign Exchange market, weighed down by the US dollar's gains against other currencies.
On the sectoral front, BSE FMCG and Bankex indices have gained between 1-2%. However, BSE Consumer Durables, Realty, Oil & Gas and PSU indices have declined by 1% each.
HDFC is the top Sensex gainer, up over 3%. Other notable gainers are HUL, HDFC Bank, GAIL, ITC, JSPL, Sun Pharma, NTPC, L&T, Sterlite and Cipla, all surging between 1-3%.
On the losing side, ONGC, BHEL, Hindalco, SBI, DRL and Tata Steel have dropped between 1-3%.
Among other shares, Financial Technologies (India) (FTIL) has tanked nearly 53% at Rs 251, its lowest level since June 2005 in early morning deals on BSE, on back of heavy volumes.
Fresenius Kabi Oncology has plunged 16% to Rs 124 ahead of Securities Appellate Tribunal (SAT) hearing today on the company’s delisting plan.
In the broader markets, BSE Midcap index has dropped by 1% wheresa BSE Small cap index is marginally negative.
The market breadth in BSE remains almost flat with 795 shares declining and 773 shares advancing.
By 11:00 AM, the 30-share Sensex was down 28 points at 19,318 and the 50-share Nifty was down 27 points at 5,715.
On the global front, Asian shares and commodity prices rose on Thursday after China's official manufacturing activity data came in better than expected, easing some concerns of a sharp slowdown in the world's second-largest economy.
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The Australian dollar, which is seen as a proxy of Chinese growth because of the countries' strong trade links, pulled away from a three-year trough of $0.8910 hit in early deals. The currency was last at $0.8974, up 0.3% on the day.
Growth in China's manufacturing sector picked up slightly last month and was stronger than market expectations, an official survey showed.
Back home, the rupee today fell by 10 paise to 60.50, after slumping to 60.84 in a volatile early trade on the Interbank Foreign Exchange market, weighed down by the US dollar's gains against other currencies.
On the sectoral front, BSE FMCG and Bankex indices have gained between 1-2%. However, BSE Consumer Durables, Realty, Oil & Gas and PSU indices have declined by 1% each.
HDFC is the top Sensex gainer, up over 3%. Other notable gainers are HUL, HDFC Bank, GAIL, ITC, JSPL, Sun Pharma, NTPC, L&T, Sterlite and Cipla, all surging between 1-3%.
On the losing side, ONGC, BHEL, Hindalco, SBI, DRL and Tata Steel have dropped between 1-3%.
Among other shares, Financial Technologies (India) (FTIL) has tanked nearly 53% at Rs 251, its lowest level since June 2005 in early morning deals on BSE, on back of heavy volumes.
Fresenius Kabi Oncology has plunged 16% to Rs 124 ahead of Securities Appellate Tribunal (SAT) hearing today on the company’s delisting plan.
In the broader markets, BSE Midcap index has dropped by 1% wheresa BSE Small cap index is marginally negative.
The market breadth in BSE remains almost flat with 795 shares declining and 773 shares advancing.