 "Markets open marginally higher as realty, IT stocks gain")
Markets have opened flat this morning, taking cues from global bourses. All eyes are now on the RBI policy review slate d for March 19, 2013. The Sensex has opened at 19,375 - up around 12 points. Nifty is down marginally at 5,847.
Wall Street started Wednesday little changed after enthusiasim over surprisingly strong retail sales was tempered somewhat by investors taking a pause after the recent rally. The Dow ended up five points at 14455.
In Asia this morning markets were mostly in red. Shanghai Composite and Hang Seng have slipped around 1% in morning trades. Nikkei, however, has banaged to trade in green at 12,290 - up 0.5%.
Auto shares are weak. Tata Motors has slipped 1.4% at Rs 296 on reports that its key Jaguar Land Rover (JLR) unit posted lower-than-expected around 3% year-on-year (yoy) growth in retail volumes in February mainly due to a sharp decline in volumes in China. Bajaj Auto and Mahindra & Mahindra are down 0.5% each. However, Hero Motocorp is up 1% at Rs 1,691. Maruti Suzuki is up 0.7% at Rs 1,383 on news that the company is likely to begin construction of its Gujarat plant in the first quarter of the next fiscal, and is awaiting a final nod in the upcoming board meeting in April.
HUL is up 1% at Rs 451. Tata Power, ICICI Bank and HDFC are some of the other key movers.
MRPL is up half a per cent at Rs 54 as the company has said that it is no longer interested in buying out the West Bengal Government's share in Haldia Petrochemicals.
The Supreme Court has disposed of petitions filed by a telecom industry body and Idea Cellular Ltd, which sought cancellation of Tata Teleservices Ltd (TTSL)’s GSM licences and inclusion of its spectrum in auctions. Shares of Tata Tele are up 1.2% at Rs 9.25.
The Government of India has decided to sell 12.88 crore equity shares of National Aluminium Company (Nalco), constituting 5% of the total paid up equity share capital of the company, with an option to sell additional 12.88 crore shares, in aggregate constituting 10% of the equity share capital of the company through Offer for Sale (OFS) via the stock exchanges mechanism tomorrow, 15 March 2013. Shares of Nalco are down 3.5% at Rs 44.75.
BSE market breadth is neutral in opening deals. Out of 1,384 stocks traded, 629 shares have declined while 685 shares have advanced in trades.
Wall Street started Wednesday little changed after enthusiasim over surprisingly strong retail sales was tempered somewhat by investors taking a pause after the recent rally. The Dow ended up five points at 14455.
In Asia this morning markets were mostly in red. Shanghai Composite and Hang Seng have slipped around 1% in morning trades. Nikkei, however, has banaged to trade in green at 12,290 - up 0.5%.
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BSE realty index has gained in morning trades - up 0.5% at 2,073. Healthcare, FMCG and Oil & gas indices are up 0.2-0.5% each. On the other hand, weakness can be seen in BSE consumer durables, auto and capital goods indices which are down 0.1-0.5% each.
Auto shares are weak. Tata Motors has slipped 1.4% at Rs 296 on reports that its key Jaguar Land Rover (JLR) unit posted lower-than-expected around 3% year-on-year (yoy) growth in retail volumes in February mainly due to a sharp decline in volumes in China. Bajaj Auto and Mahindra & Mahindra are down 0.5% each. However, Hero Motocorp is up 1% at Rs 1,691. Maruti Suzuki is up 0.7% at Rs 1,383 on news that the company is likely to begin construction of its Gujarat plant in the first quarter of the next fiscal, and is awaiting a final nod in the upcoming board meeting in April.
HUL is up 1% at Rs 451. Tata Power, ICICI Bank and HDFC are some of the other key movers.
MRPL is up half a per cent at Rs 54 as the company has said that it is no longer interested in buying out the West Bengal Government's share in Haldia Petrochemicals.
The Supreme Court has disposed of petitions filed by a telecom industry body and Idea Cellular Ltd, which sought cancellation of Tata Teleservices Ltd (TTSL)’s GSM licences and inclusion of its spectrum in auctions. Shares of Tata Tele are up 1.2% at Rs 9.25.
The Government of India has decided to sell 12.88 crore equity shares of National Aluminium Company (Nalco), constituting 5% of the total paid up equity share capital of the company, with an option to sell additional 12.88 crore shares, in aggregate constituting 10% of the equity share capital of the company through Offer for Sale (OFS) via the stock exchanges mechanism tomorrow, 15 March 2013. Shares of Nalco are down 3.5% at Rs 44.75.
BSE market breadth is neutral in opening deals. Out of 1,384 stocks traded, 629 shares have declined while 685 shares have advanced in trades.