Markets pared gains in late-morning session this Tuesday with 50-share inching below its crucial support level of 5,900 after country’s apex court said the sharing of Central Bureau of Investigation’s (CBI) report on coal scam with the government has shaken the entire process.
CBI Director Ranjit Sinha had last week filed an affidavit in the court saying that its probe report on coal allocation scam was shared with the law minister and joint-secretary level officials of Prime Ministerial Office and coal ministry, news report suggests.
Investor sentiments turned jittery on concerns that the on-going Parliament’s Budget session may get washed away, stalling reform process amidst fresh bout of corruption scandals against the Congress-led UPA government.
Global risk appetite was also firm on hopes major central banks will ease monetary policy further or continue to keep it loose for long.
Asian markets traded mixed with Hong Kong’s Hang Seng rose 0.6% to 22,722, Singapore’s Straits Times added 0.6% to 3,381 while Japan’s Nikkei was down 0.1% to 13,868. China markets are shut till Thursday on holidays.
Back home, the key sectoral indices such as oil & gas, real-estate, power and bankex declined while FMCG, Healthcare sector gained on the BSE.
The gainers on the Sensex included, HUL rising 16%, Dr Reddy’s gaining 1.7%, Sterlite Industries was up 1.8% on the BSE.
The laggards included counters such as Reliance Industries declined 1.7%, Hindalco fell 2.4%, ONGC slumping 2.5% on the BSE.
The key notable movers included, Hindustan Unilever (HUL) has rallied 19% to Rs 594, also its lifetime high on BSE, after Unilever PLC, the promoter of the company made an open offer to acquire 22.52% stake in the fast moving consumer goods (FMCG) company at price of Rs 600 per share.
Bank of Maharashtra has rallied 7% to Rs 60.30, extending its previous day’s 13% surge, after reporting over three-fold jump in its net profit at Rs 259 crore for the quarter ended March 2013 (Q4). The state-owned bank had profit of Rs 73 crore in a year ago quarter.
The broader markets dropped with mid-caps and small-caps falling 0.3% on the BSE.
The market breadth was negative. Out of 1,995 stocks traded, 1,024 stocks declined compared to 848 advances on BSE.
CBI Director Ranjit Sinha had last week filed an affidavit in the court saying that its probe report on coal allocation scam was shared with the law minister and joint-secretary level officials of Prime Ministerial Office and coal ministry, news report suggests.
Investor sentiments turned jittery on concerns that the on-going Parliament’s Budget session may get washed away, stalling reform process amidst fresh bout of corruption scandals against the Congress-led UPA government.
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At 11:35AM, the Bombay Stock Exchange's 30-share index Sensex was up 3 points at 19,396.78 while the National Stock Exchange's 50-share Nifty fell 11 points at 5,893.
Global risk appetite was also firm on hopes major central banks will ease monetary policy further or continue to keep it loose for long.
Asian markets traded mixed with Hong Kong’s Hang Seng rose 0.6% to 22,722, Singapore’s Straits Times added 0.6% to 3,381 while Japan’s Nikkei was down 0.1% to 13,868. China markets are shut till Thursday on holidays.
Back home, the key sectoral indices such as oil & gas, real-estate, power and bankex declined while FMCG, Healthcare sector gained on the BSE.
The gainers on the Sensex included, HUL rising 16%, Dr Reddy’s gaining 1.7%, Sterlite Industries was up 1.8% on the BSE.
The laggards included counters such as Reliance Industries declined 1.7%, Hindalco fell 2.4%, ONGC slumping 2.5% on the BSE.
The key notable movers included, Hindustan Unilever (HUL) has rallied 19% to Rs 594, also its lifetime high on BSE, after Unilever PLC, the promoter of the company made an open offer to acquire 22.52% stake in the fast moving consumer goods (FMCG) company at price of Rs 600 per share.
Bank of Maharashtra has rallied 7% to Rs 60.30, extending its previous day’s 13% surge, after reporting over three-fold jump in its net profit at Rs 259 crore for the quarter ended March 2013 (Q4). The state-owned bank had profit of Rs 73 crore in a year ago quarter.
The broader markets dropped with mid-caps and small-caps falling 0.3% on the BSE.
The market breadth was negative. Out of 1,995 stocks traded, 1,024 stocks declined compared to 848 advances on BSE.