Markets continued to trade on a lacklustre note in afternoon trades with some buying visible in oil & gas and realty space. The Sensex is down 11 points at 19,293. Nifty is down 3 points at 5,868.
Meanwhile in Asia, Shanghai Composite and Hang Seng have gained 0.3-0.8% each. However, most other indices slipped lower as some weak global manufacturing data contrasted with earlier numbers showing improvement at Chinese factories. Nikkei, Straits and Kospi were down 0.1-0.3% each.
BSE oil & gas index has gained 1.2% to8,391 on the back of strength in Reliance. Realty, power and healthcare indices have added 0.5-1% each. On the other hand, BSE consumer durables index has slipped 0.5% to 8,036. IT, FMCG and auto indices also languished in red.
Markets heavyweight- Reliance is the top gainer - up 2% at Rs 818. It has contributed around 30 points to the Sensex on reports that the oil ministry may approve the company’s investment plans for the KG-D6 block.. Bajaj Auto, Jindal Steel, BHEL and ONGC are some of the other gainers. Meanwhile, financials such as ICICI Bank, SBI and HDFC accounts for 37 points on the Sensex.
However, Mahindra & Mahindra has slipped 1% at Rs 945. Bharti Airtel, TCS and Wipro are down 1% each. Among other losers are ITC, Larsen & Toubro and Sterlite Industries.
Firstsource Solutions has appointed Sanjiv Goenka as the chairman of the company following the resignation of Shailesh Mehta from the post. The stock has jumped 1.5% to Rs 12.36.
IndusInd Bank is trading higher by 1.2% at Rs 426 extending its past one week rally after the private lender has successfully raised Rs 2,000 crore by issuing shares to qualified institutional buyers.
Hotel stocks such as Taj GVK, Hotel Leela and Viceroy Hotels gained between 2-10% in early morning trades on sales optimism after government relaxed norms on tourist visas which had mandated a two-month gap between consecutive visits by overseas nationals.
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