 "Markets pare gains; Nifty below 7,550")
Markets have slipped in the nefgative territory owing to weakness in the oil shares on account of declining crude oil prices coupled with losses in Index heavyweights.
At 1:35 pm, the S&P BSE Sensex shed 60 points at 24,765 and the Nifty50 lost 25 points at 7,529.
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(updated at 12:00pm)
Markets have teurned positive after a knee-jerk reaction to the RBI stance on renewed buying interest in banks and Capital Goods.
At 1:35 pm, the S&P BSE Sensex shed 60 points at 24,765 and the Nifty50 lost 25 points at 7,529.
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(updated at 12:00pm)
Markets have teurned positive after a knee-jerk reaction to the RBI stance on renewed buying interest in banks and Capital Goods.
However, weakness in the energy shares on the back of declining crude oil prices capped the upside.
At 12:00 pm, the S&P BSE Sensex gained 62 points at 24,887 and the Nifty50 climbed 9 points at 7,566.
________________(updated at 11:05)
Markets have trimmed intra-day gains after the RBI at its monetary policy review kept key rates unchanged.
At 11:05am, the S&P BSE Sensex was down 20 points at 24,805 and the Nifty50 was down 14 points at 7,542.
The RBI at its sixth bi-monthly monetary policy review on Tuesday kept the repo rate
or the rate at which the central bank infuses liquidity into the system, unchanged at 6.75%. The cash reserve ratio (CRR), or the portion of a bank’s money maintained with the central bank in cash, was unchanged at 4%.
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(Updated 10:40am
Markets continued to trade flat with bank shares in focus ahead of the RBI monetary policy review later today.
At 10:40am, the S&P BSE Sensex was up 31 points at 24,856 and the Nifty50 was up 1 points at 7,557.
IT major TCS and Infosys were the top gainers up 0.7%-1.2% each.
In the pharma pack, Lupin and Dr Reddy's Labs were up over 1% each.
Among others shares, Nitta Gelatin India has locked in upper circuit of 20% at Rs 201, also its 52-week high on the BSE after the company reported a net profit of Rs 7.51 crore in December 2015 quarter (Q3FY16) on back of strong operational performance and lower finance cost.
Tata Elxsi was trading higher by nearly 2% at Rs 2,278, extending its over 30% rally in past seven trading sessions on the BSE, after the company reported 40% year on year (yoy) rise in its net profit at Rs 39.90 crore for the quarter ended December 31, 2015 (Q3FY16).
Shares of State Bank of Travancore were up nearly 3% at Rs 405 after the bank reported a 23% increase in its net profit at Rs 91.5 crore in the third quarter on the back of higher income from operations and despite increase in provisioning.
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(updated at 9:45am
Markets opened flat as investors are eagerly awaiting signals from the Reserve Bank of India at its monetary policy review later today.
Meanwhile, stock specific action is likely to continue post the announcement of the third quarter earnings.
At 9:45am, the S&P BSE Sensex was up 29 points at 24,853 and Nifty50 was up 6 points at 7,564
Also Read: RBI to maintain status quo: Poll
In the broader market, the BSE Midcap and Smallcap indices are up 0.2%-0.4%e each.
Market breadth was strong with 911 gainers and 504 losers
The Indian rupee was marginal down at 67.89 compared to the US dollar ahead of the RBI monetary policy review.
Foreign institutional investors remained net buyers in domestic equities worth Rs 254 crore.
Join us for a webchat at 3pm today with Indranil Pan, group chief economist at IDFC Bank on the RBI Policy
SECTORS & STOCKS
BSE IT index was the top gainer up 0.8% followed by Capital Goods, Metal, Oil and Gas indices among others.
IT exporters TCS and Infosys were up 1% each contributing the most to the Sensex gains on hopes of order inflows. Wipro was up 0.5%.
ICICI Bank rebounded and was trading 0.6% higher after the sharp correction post its third quarter earnings.
Other Sensex gainers include, Bharti Airtel, ICICI Bank, Bajaj Auto and Maruti Suzuki among others.
L&T was down 0.5% on profit taking after gains of nearly 2% in the previous session post its third quarter earnings.
Sensex losers include, ITC, ONGC and Reliance Industries among others.
Among other shares, Nitta Gelatin India has locked in upper circuit of 20% at Rs 201, also its 52-week high on the BSE after the company reported a net profit of Rs 7.51 crore in December 2015 quarter (Q3FY16) on back of strong operational performance and lower finance cost.
GLOBAL MARKETS
Asian shares are trading largely in the red barring China shares after crude oil prices slipped on oversupply concerns and sluggish manufacturing data raised worries about global growth. Japan’s Nikkei, Hong Kong’s Hang Seng has slipped up to 0.2%. On the flip side, China’s Shganghai Composite has rebounded and is trading nearly 2% higher.
US equities closed flat taking cues from a downbeat China manufacturing data and falling oil prices. Meanwhile, US economic data indicated that the manufacturing activity shrink in January for a fourth straight month.