 "Markets remain choppy; GAIL, M&M top losers")
Benchmark indices continue to volatile in a narrow range with negative bias weighed down by auto shares.
At 11:30 AM, Sensex was down 16 points at 26,850 while Nifty was down 6 points at 8,316.
The broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices have gained by nearly 1% each.
Meanwhile, the provisional data released by the stock exchanges after trading hours on Friday showed that foreign portfolio investors (FPIs) bought shares worth a net Rs 1,755 crore.
Among macro economic data, factory activity expanded at a modest pace in October, as stronger demand led manufacturers to add jobs for the first time in four months and allowed them to raise prices, a business survey showed on Monday.
The HSBC Manufacturing Purchasing Managers' Index (PMI), compiled by Markit, rose to 51.6 in October from 51.0 in September. The index has now been above the 50 level that indicates an expansion in activity for a year.
The rupee is trading at 61.41 versus its previous close of 61.3950/4050.
GLOBAL MARKETS
China shares hit a multi-month high on Monday, supported by sustained strength in blue-chip brokerages and steel firms, while Hong Kong markets fell as profit-taking emerged after the recent solid gains.
The Shanghai Composite Index rose 0.6% to 2,435.0 points by the midday break, the highest level since February last year, while the CSI300 of the leading Shanghai and Shenzhen A-share listings gained 0.6%, hitting a 14-month high.
China's services sector grew at its slowest pace in nine months in October as a cooling property sector weighed on demand, a survey showed on Monday, adding to signs of fragility in the world's second-largest economy.
SECTORS & STOCKS
BSE Auto and Consumer Durables indices have plunged by over 1%. However, BSE Realty, Metal and Capital Goods indices have gained between 1-2%.
Shares of most of the frontline automobiles companies are trading lower after reporting drop in vehicle sales during the month of October despite of the festive season.
Tata Motors, Mahindra and Mahindra (M&M), Hero MotoCorp, Eicher Motors and Maruti Suzuki India are down 1-3% on the Bombay Stock Exchange (BSE).
GAIL is the top Sensex loser, down over 4%. Other notable losers are NTPC, BHEL, HUL, Coal India and Bharti Airtel.
On the gaining side, Sesa Sterlite, Hindalco, SBI, Dr Reddy’s Labs and L&T have gained between 1-2%.
Among other shares, Apollo Tyres has moved higher by 5% to Rs 229 on the Bombay Stock Exchange (BSE), after the company said that the Delaware Court in the US has ruled in favour of Apollo's motion for Entry of a Declaratory Judgment.
Excel Industries has soared 15% to Rs 368 after reporting a robust 147% year-on-year (yoy) jump in net profit at Rs 10.74 crore for the quarter ended September 2014 (Q2), on back of strong operational performance.
At 11:30 AM, Sensex was down 16 points at 26,850 while Nifty was down 6 points at 8,316.
The broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices have gained by nearly 1% each.
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The market breadth in BSE remains firm with 1,444 shares advancing and 933 shares declining.
Meanwhile, the provisional data released by the stock exchanges after trading hours on Friday showed that foreign portfolio investors (FPIs) bought shares worth a net Rs 1,755 crore.
Among macro economic data, factory activity expanded at a modest pace in October, as stronger demand led manufacturers to add jobs for the first time in four months and allowed them to raise prices, a business survey showed on Monday.
The HSBC Manufacturing Purchasing Managers' Index (PMI), compiled by Markit, rose to 51.6 in October from 51.0 in September. The index has now been above the 50 level that indicates an expansion in activity for a year.
The rupee is trading at 61.41 versus its previous close of 61.3950/4050.
GLOBAL MARKETS
China shares hit a multi-month high on Monday, supported by sustained strength in blue-chip brokerages and steel firms, while Hong Kong markets fell as profit-taking emerged after the recent solid gains.
The Shanghai Composite Index rose 0.6% to 2,435.0 points by the midday break, the highest level since February last year, while the CSI300 of the leading Shanghai and Shenzhen A-share listings gained 0.6%, hitting a 14-month high.
China's services sector grew at its slowest pace in nine months in October as a cooling property sector weighed on demand, a survey showed on Monday, adding to signs of fragility in the world's second-largest economy.
SECTORS & STOCKS
BSE Auto and Consumer Durables indices have plunged by over 1%. However, BSE Realty, Metal and Capital Goods indices have gained between 1-2%.
Shares of most of the frontline automobiles companies are trading lower after reporting drop in vehicle sales during the month of October despite of the festive season.
Tata Motors, Mahindra and Mahindra (M&M), Hero MotoCorp, Eicher Motors and Maruti Suzuki India are down 1-3% on the Bombay Stock Exchange (BSE).
GAIL is the top Sensex loser, down over 4%. Other notable losers are NTPC, BHEL, HUL, Coal India and Bharti Airtel.
On the gaining side, Sesa Sterlite, Hindalco, SBI, Dr Reddy’s Labs and L&T have gained between 1-2%.
Among other shares, Apollo Tyres has moved higher by 5% to Rs 229 on the Bombay Stock Exchange (BSE), after the company said that the Delaware Court in the US has ruled in favour of Apollo's motion for Entry of a Declaratory Judgment.
Excel Industries has soared 15% to Rs 368 after reporting a robust 147% year-on-year (yoy) jump in net profit at Rs 10.74 crore for the quarter ended September 2014 (Q2), on back of strong operational performance.