 "Markets remain firm as oil and metal shares hold gains")
Markets were trading marginally in the green this morning after lacklustre trades in the opening hour. The Sensex, after touching a high of 19,697 is now up 26 points at 19,672. Nifty is up three points at 5946.
In Asia this morning markets were in red. Nikkei and Hang Seng slipped marginally. Shanghai Composite was down 0.7% at 2,293. marginally at 2310 after China’s annual industrial output growth eased to 9.9 percent in the first two months from a year ago, below market forecasts.
Meanwhile, the World Bank has said India would go back on to a higher growth trajectory, by clocking a gross domestic product (GDP) growth of six per cent in 2013-14, and even higher thereafter, on the back of global recovery.
BSE auto index has recovered from yesterday's fall and is up 0.5% at 10,872. Oil & gas was the top sectoralgainer - up 0.7% followed by realty and metal shares are up around half a per cent as well.
On the other hand, weakness can be seen in the BSE IT index - down 0.6% at 6,917. FMCG and healthcare indices are down marginally as well. BSE consumer durables index is down half a per cent as well.
Mahindra & Mahindra has added 1% at Rs 921. Tata Motors is up 1.2%, followed by Jindal Steel, HUL, Maruti and banking names such as SBI and ICICI Bank. Index heavyweight - Reliance is up 1% at Rs 852.
Meanwhile, Bharti Airtel has slipped 1% at Rs 319. TCS is down 1% at Rs 1554. The company’s operating margin is set to slip 25 bps on the back of a one time lawsuit settlement of around 160 crore.
ONGC is up 0.7% at Rs 327 as a consortium led by the company will do a feasibility study on setting up a Liquefied Natural Gas (LNG) Regasification Terminal at the New Mangalore Port.
Coal India is down 0.3% at Rs 319. A unit of Coal India has revived a proposal to set up a 1,600 megawatts power plant in Odisha at a cost of 90 billion rupees, an official said, marking the world's largest coal miner's foray into the power sector.
Shares of sugar manufacturer are trading firm in otherwise subdued market in morning trades on report that the government is likely to consider a proposal on sugar decontrol this week. Dhampur Sugar Mills has rallied 5.1% to Rs 52.25, followed by Bajaj Hindustan (up 3.3% at Rs 23.20), Shree Renuka Sugars (3% at Rs 27) and Balrampur Chini Mills (1.4% at Rs 49.70) on BSE. The benchmark index Sensex is up 0.12% at 1023 hours.
Indian factory production in January probably rose from a year earlier after shrinking in December, boosted by a pick-up in domestic demand and infrastructure output at a three-month high, a Reuters poll showed.
BSE market breadth was positive. Out of 2154 stocks traded, 1123 shares advanced while 944 shares declined.
In Asia this morning markets were in red. Nikkei and Hang Seng slipped marginally. Shanghai Composite was down 0.7% at 2,293. marginally at 2310 after China’s annual industrial output growth eased to 9.9 percent in the first two months from a year ago, below market forecasts.
Meanwhile, the World Bank has said India would go back on to a higher growth trajectory, by clocking a gross domestic product (GDP) growth of six per cent in 2013-14, and even higher thereafter, on the back of global recovery.
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Broader markets have gained in line with the benchmark index. BSE mid-cap index is up 11 points while small-cap index has moved up 21 points this morning. On the NSE, Nifty junior is up seven points at 11,884. However, the India VIX is up 2% in trades.
BSE auto index has recovered from yesterday's fall and is up 0.5% at 10,872. Oil & gas was the top sectoralgainer - up 0.7% followed by realty and metal shares are up around half a per cent as well.
On the other hand, weakness can be seen in the BSE IT index - down 0.6% at 6,917. FMCG and healthcare indices are down marginally as well. BSE consumer durables index is down half a per cent as well.
Mahindra & Mahindra has added 1% at Rs 921. Tata Motors is up 1.2%, followed by Jindal Steel, HUL, Maruti and banking names such as SBI and ICICI Bank. Index heavyweight - Reliance is up 1% at Rs 852.
Meanwhile, Bharti Airtel has slipped 1% at Rs 319. TCS is down 1% at Rs 1554. The company’s operating margin is set to slip 25 bps on the back of a one time lawsuit settlement of around 160 crore.
ONGC is up 0.7% at Rs 327 as a consortium led by the company will do a feasibility study on setting up a Liquefied Natural Gas (LNG) Regasification Terminal at the New Mangalore Port.
Coal India is down 0.3% at Rs 319. A unit of Coal India has revived a proposal to set up a 1,600 megawatts power plant in Odisha at a cost of 90 billion rupees, an official said, marking the world's largest coal miner's foray into the power sector.
Shares of sugar manufacturer are trading firm in otherwise subdued market in morning trades on report that the government is likely to consider a proposal on sugar decontrol this week. Dhampur Sugar Mills has rallied 5.1% to Rs 52.25, followed by Bajaj Hindustan (up 3.3% at Rs 23.20), Shree Renuka Sugars (3% at Rs 27) and Balrampur Chini Mills (1.4% at Rs 49.70) on BSE. The benchmark index Sensex is up 0.12% at 1023 hours.
Indian factory production in January probably rose from a year earlier after shrinking in December, boosted by a pick-up in domestic demand and infrastructure output at a three-month high, a Reuters poll showed.
BSE market breadth was positive. Out of 2154 stocks traded, 1123 shares advanced while 944 shares declined.