 "Markets off day lows; banks gain")
Markets have recovered from day lows as gains in banks and oil & gas heavyweights aided the upmove. At 1300 hrs, the Sensex was up 76 points at 25,082 and the Nifty gained 25 points to trade at 7,479.
Meanwhile, the broader markets were resilient and attracted investor interest in noon trades. Both the smallcap and midcap indices were up 1% each.
As per the data released late Monday, consumer price index (CPI)-based inflation fell to 7.31% in June, the lowest since its launch in January 2012.
The Indian rupee was trading lower at Rs 60.19 against the previous close of Rs 60.07 after the dollar appreciated against Asian currencies. Further, demand from oil importers is also favouring the dollar.
Sectors & Stocks
Metal, IT and FMCG indices were down nearly 0.2% each and Health Care index was flat with a negative bias.
Among the sectoral gainers were Bankex, Capital Goods, Realty, Oil & Gas and Consumer Durables indices up 1-2%.
Banking giants ICICI Bank and SBI up 2.5% each were the top Sensex gainers.
ONGC, BHEL, Bajaj Auto, Gail India, Mahindra & Mahindra, L&T, Axis Bank and Tata Steel up 1-2% were the other notable gainers.
Among the ones in negative were Sesa Sterlite, NTPC, Dr Reddys Lab, Hindalco, Hero MotoCorp and TCS down 1-2%.
In individual names, Piramal Enterprises tanked nearly 9% to Rs 640 on BSE after the stock turned ex-dividend today for a dividend of Rs 52.50 per share.
TVS Motor Company gained 6% to Rs 169, extending its previous day’s rally, after the company's market share rose to 12.6% from 12.1% in June quarter, first time in two years.
Tata Sponge Iron surged 8% to Rs 692 after reporting an over two-fold jump in standalone net profit at Rs 44 crore for the first quarter ended June 30, 2014 (Q1), due higher realisation and other income.
The market breadth was positive on BSE. 1585 stocks advanced while 1079 stocks declined.
Meanwhile, the broader markets were resilient and attracted investor interest in noon trades. Both the smallcap and midcap indices were up 1% each.
As per the data released late Monday, consumer price index (CPI)-based inflation fell to 7.31% in June, the lowest since its launch in January 2012.
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Its wholesale counterpart declined to a four-month low of 5.43% in the month and wholesale price inflation eased to a four-month low in June after the new government curbed farm exports.
The Indian rupee was trading lower at Rs 60.19 against the previous close of Rs 60.07 after the dollar appreciated against Asian currencies. Further, demand from oil importers is also favouring the dollar.
Sectors & Stocks
Metal, IT and FMCG indices were down nearly 0.2% each and Health Care index was flat with a negative bias.
Among the sectoral gainers were Bankex, Capital Goods, Realty, Oil & Gas and Consumer Durables indices up 1-2%.
Banking giants ICICI Bank and SBI up 2.5% each were the top Sensex gainers.
ONGC, BHEL, Bajaj Auto, Gail India, Mahindra & Mahindra, L&T, Axis Bank and Tata Steel up 1-2% were the other notable gainers.
Among the ones in negative were Sesa Sterlite, NTPC, Dr Reddys Lab, Hindalco, Hero MotoCorp and TCS down 1-2%.
In individual names, Piramal Enterprises tanked nearly 9% to Rs 640 on BSE after the stock turned ex-dividend today for a dividend of Rs 52.50 per share.
TVS Motor Company gained 6% to Rs 169, extending its previous day’s rally, after the company's market share rose to 12.6% from 12.1% in June quarter, first time in two years.
Tata Sponge Iron surged 8% to Rs 692 after reporting an over two-fold jump in standalone net profit at Rs 44 crore for the first quarter ended June 30, 2014 (Q1), due higher realisation and other income.
The market breadth was positive on BSE. 1585 stocks advanced while 1079 stocks declined.