Markets are trading on a lacklustre note in the morning deals. The Sensex is down 13 points at 18,666 and the 50-share Nifty is down 11 points at 5,672. Meanwhile, the markets have recovered some losse on the back of buying visible in the IT and healthcare stocks. The Sensex opened weaker by 60 points in trades today.
TCS continue to trade on a positive note. The stock has advanced 2% to Rs 1,317 after it posted better-than-expected earnings as net profit for the quarter ended September 30, 2012 climbed 49 per cent from a year earlier to Rs 3,434 crore driven by growth across geographies and businesses.
Dr Reddy's Labs, ICICI Bank, NTPC, Cipla, Mahindra & Mahindra, Tata Power, GAIL India, HUL, HDFC Bank and Bharti Airtel are also trading higher.
On the other hand, ITC, Maruti Suzuki, Sterlite Industries, Jindal Steel, Sun Pharma, Maruti Suzuki and Hindalco are among the top losers.
Among the individual stocks, Kingfisher Airlines has locked in 5% lower circuit at Rs 10.90 for third day in a row after the aviation regulator temporarily suspended the airline's operating licence.
Peninsula Land has rallied 7% to Rs 53.15 after reporting almost six-fold jump in net profit at Rs 82.71 crore for the quarter ended September 2012 on back of higher operational income. The Mumbai-based real estate developer had a profit of Rs 13.68 crore in previous year quarter. Total income from operations has increased by 479% to Rs 287 crore on year-on-year basis.
ING Vysya Bank has rallied 6% to Rs 472, its historical high, on reporting 30% year-on-year jump in net profit at Rs 150 crore in the second quarter of current financial year on the back of sound growth in core income.
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(Updated at 9.20 AM)
Markets have opened on a weak note tracking subdued global cues. The Sensex has opened has lower by 63 points at 18,619 and the 50-share Nifty is down 24 points at 5,650.
The Asian shares fell on Monday as lackluster earnings from leading US companies and a sharp drop in Japan's exports, a key driver of the world's third-biggest economy, dented risk appetites and prompted investors to take profits on recent gains.
US stocks had their worst day since late June on Friday, following disappointing results from Dow components General Electric and McDonald's, both barometers of the overall economy's health.
The Asian markets are trading on a weak note. Shanghai Composite is down 11 points at 2,116, Nikkei has slipped 73 points to 8,929 and the Taiwan Weighted is down 58 points at 7,351.
Back home, BHEL is the top Sensex loser, down 1.4% at Rs 238. State bank of India, Sterlite Industries, ITC, Reliance Industries, Hindalco, Tata Motors, Sun Pharma, Jindal Steel, Tata Steel, HDFC, Hero MotoCorp, Tata Power and Maruti Suzuki have also opened weaker by 0.4-1.3% each.
On the other hand, TCS is trading higher by 1% at Rs 1,304 after the company better-than-expected earnings as net profit for the quarter ended September 30, 2012 climbed 49 per cent from a year earlier to Rs 3,434 crore driven by growth across geographies and businesses.
Dr Reddy's Labs, Cipla, NTPC, Wipro, Infosys, HDFC Bank and ICICI Bank are also among the notable gainers.
Most of the sectors are facing the heat of selling pressure. The metal stocks are amongst the worst hit. The BSE metal index is the top sectoral loser, down 0.8% at 10,272. Auto, FMCG, capital goods, oil & gas and realty indices are also down 0.5-0.7% each. While, IT and healthcare indices are marginally higher.
The broader markets are also trading lower. The BSE mid-cap and small-cap indices are down 0.2% each.
The overall breadth is neutral as 645 stocks are declining while 615 are advancing.
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