 "Markets pare early gains; Nifty below 6,200")
Markets pared early gains as investors turned cautious and booked profits in index heavyweights. Experts say that markets are likely to remain range bound ahead of the November industrial production data on Friday and minutes of the Fed's December meeting due on Thursday.
At 10:25AM, the 30-share Sensex was down 126 points at 20,661 and the 50-share Nifty was dpwn 39 points at 6,153.
The Indian rupee is trading lower at Rs 62.38 to the US dollar compared to its previous close of Rs 62.31. According to reports, traders are adopting a wait-and-watch stance ahead of the inflation data due next week.
Index heavyweights ITC and Reliance Industries were down 0.6% each contributing the most to the Sensex decline along with Axis Bank and HDFC Bank.
Meanwhile, profit taking continued in IT major Infosys ahead of its third quarter earnings due for release on Friday. The stock was down 0.6%. ICICI Bank pared early gains and was down 0.5%.
L&T was up 1.1% after the company said its construction wing has won new orders worth an aggregate Rs 2,962 crore across various business segments.
Other Sensex gainers include, Maruti Suzuki, Sun Pharma and Dr Reddy's Labs.
Among other shares, Sharon Bio-Medicine has rallied 7% to Rs 435, extending its previous day’s 10% surge, after the mid-sized pharmaceutical company announced bonus issue and sub division of equity shares.
Claris Lifesciences was marginally up at Rs 199 ahead of board meeting today to consider a share buyback proposal. The board will also consider an interim dividend to exiting equity shareholders.
The broader market was mixed with the BSE Mid-cap down 0.1% and Small-cap index up 0.2%.
Market breadth was positive with 662 gainers and 596 losers on the BSE.
At 10:25AM, the 30-share Sensex was down 126 points at 20,661 and the 50-share Nifty was dpwn 39 points at 6,153.
The Indian rupee is trading lower at Rs 62.38 to the US dollar compared to its previous close of Rs 62.31. According to reports, traders are adopting a wait-and-watch stance ahead of the inflation data due next week.
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Asian shares stabilised on Tuesday after four straight days of losses, while the dollar rebounded from overnight weakness after weak U.S. services sector data raised concerns about sluggish growth in the world's largest economy. Except for the Nikkei which witnessed profit booking was down 0.4%. Among others, Shanghai Composite was up 0.1%, Hang Seng gained 0.3% and Straits Times was up 0.2%.
Index heavyweights ITC and Reliance Industries were down 0.6% each contributing the most to the Sensex decline along with Axis Bank and HDFC Bank.
Meanwhile, profit taking continued in IT major Infosys ahead of its third quarter earnings due for release on Friday. The stock was down 0.6%. ICICI Bank pared early gains and was down 0.5%.
L&T was up 1.1% after the company said its construction wing has won new orders worth an aggregate Rs 2,962 crore across various business segments.
Other Sensex gainers include, Maruti Suzuki, Sun Pharma and Dr Reddy's Labs.
Among other shares, Sharon Bio-Medicine has rallied 7% to Rs 435, extending its previous day’s 10% surge, after the mid-sized pharmaceutical company announced bonus issue and sub division of equity shares.
Claris Lifesciences was marginally up at Rs 199 ahead of board meeting today to consider a share buyback proposal. The board will also consider an interim dividend to exiting equity shareholders.
The broader market was mixed with the BSE Mid-cap down 0.1% and Small-cap index up 0.2%.
Market breadth was positive with 662 gainers and 596 losers on the BSE.