 "Markets trim gains; TCS, HDFC down 1%")
Markets have trimmed gains on account of profit taking in index heavyweights like ITC and HDFC.
By 10:10, the Sensex was higher by 75 points at 26,5466 mark and the Nifty gained by 22 points at 7,897 levels.
BSE Metal, Capital Goods and Auto indices have gained between 0.5-1%. However, BSE IT and Consumer Durables indices are trading marginally lower.
The top gainers on the Sensex are Tata Motors, Sesa Sterlite, L&T, Dr Reddy’s and Bharti Airtel.
On the losing side, HDFC, ITC, TCS, ONGC and Sun Pharma have declined between 0.4-1.3%.
Shares of oil and gas companies continued at their upward march for a fifth day in a row after Brent crude fell to its lowest level since June 2013 as supply risks ease.
Lower crude oil prices will reduce under recovery of public sector oil marketing companies on domestic sales of diesel, kerosene and LPG at government controlled prices.
Hindustan Petroleum Corporation (HPCL) has rallied 4% to Rs 458, while Bharat Petroleum Corporation (BPCL) and Indian Oil Corporation (IOC) are up 3% each at Rs 669 and Rs 363 respectively on the Bombay Stock Exchange (BSE).
The market breadth in BSE remains positive with 1,194 shares advancing and 704 shares declining.
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Updated at 9:25
Markets have hit fresh all time high in the opening trades supported by strong global cues. Further, sentiments of the market participants have cheered on reports of easing tensions between Ukraine and Russia.
By 10:10, the Sensex was higher by 75 points at 26,5466 mark and the Nifty gained by 22 points at 7,897 levels.
BSE Metal, Capital Goods and Auto indices have gained between 0.5-1%. However, BSE IT and Consumer Durables indices are trading marginally lower.
The top gainers on the Sensex are Tata Motors, Sesa Sterlite, L&T, Dr Reddy’s and Bharti Airtel.
On the losing side, HDFC, ITC, TCS, ONGC and Sun Pharma have declined between 0.4-1.3%.
Shares of oil and gas companies continued at their upward march for a fifth day in a row after Brent crude fell to its lowest level since June 2013 as supply risks ease.
Lower crude oil prices will reduce under recovery of public sector oil marketing companies on domestic sales of diesel, kerosene and LPG at government controlled prices.
Hindustan Petroleum Corporation (HPCL) has rallied 4% to Rs 458, while Bharat Petroleum Corporation (BPCL) and Indian Oil Corporation (IOC) are up 3% each at Rs 669 and Rs 363 respectively on the Bombay Stock Exchange (BSE).
The market breadth in BSE remains positive with 1,194 shares advancing and 704 shares declining.
***************************************
Updated at 9:25
Markets have hit fresh all time high in the opening trades supported by strong global cues. Further, sentiments of the market participants have cheered on reports of easing tensions between Ukraine and Russia.
By 9:25, the Sensex was higher by 115 points at 26,506 mark and the Nifty gained by 34 points at 7,908 levels.
Markets extended gains yesterday for the fifth straight session, amid firm European cues, to end at fresh record closing highs after Prime Minister Narendra Modi announced a scheme for financial inclusion while easing whole-sale price inflation also boosted sentiment. Further, renewed buying interest from foreign funds helped support the market.
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Foreign portfolio investors (FPIs) bought shares worth a net Rs 473.42 crore on Monday, as per provisional data from the stock exchanges.
On the global front, Asian stocks got a lift on Tuesday from an upbeat day on Wall Street, while the dollar got some help as US Treasury yields pulled away from recent lows on upbeat US housing data and hopes of progress in the Ukraine crisis.
Foreign ministers from Russia, Ukraine, Germany, and France gathered in Berlin over the weekend to discuss talks for a ceasefire or a political solution, and Russia's Foreign Ministry said on Monday a 'certain progress' was achieved during the talks.
Back home, the rupee is trading at 60.69 per dollar versus Thursday's close of 60.76/77.
BSE Metal and Capital Goods indices have surged by over 1% followed by counters like Banks, Realty, Power, Oil & Gas, Consumer Durables and Auto, all gaining by nearly 1% each. Infact, all the major BSE sectoral indices are trading in green zone.
BSE Metal and Capital Goods indices have surged by over 1% followed by counters like Banks, Realty, Power, Oil & Gas, Consumer Durables and Auto, all gaining by nearly 1% each. Infact, all the major BSE sectoral indices are trading in green zone.
The main gainers on the Senses are Sesa Sterlite, L&T, BHEL, Coal India, ONGC, Tata Power, NTPC, Axis Bank, Tata Steel and Bharti Airtel.
On the losing side, TCS, HDFC, Cipla, Wipro and Bajaj Auto have declined between 0.03-1%.
JSW Steel has entered into a definitive agreement with Welspun Enterprise (WEL), to acquire the entire equity shares held by the latter in Welspun Maxsteel (WMSL) for an enterprise value of Rs 1000 crore plus net current assets as of 31 August 2014. The stock has gained by nearly 1%.
Shares of Bhushan Steel has slipped by nearly 5% to Rs144.90. The creditors of the steelmaker will take steps including an audit to ensure the company, whose managing director is implicated in a bribery case, will be able to pay around $6 billion it owes.
Shares of Bhushan Steel has slipped by nearly 5% to Rs144.90. The creditors of the steelmaker will take steps including an audit to ensure the company, whose managing director is implicated in a bribery case, will be able to pay around $6 billion it owes.
The broader markets are outperforming the benchmark indices- BSE Midcap and Snmallcap indices have gained by nearly 1% each.
The market breadth in BSE remains healthy with 971 shares advancing and 295 shares declining.