 "Markets remain in green; Sensex hovers around 20,400")
Markets continued to stay in the green despite index heavyweights ITC and Reliance Industries dragging the benchmark indices by 0.4-0.5% each.
At 10:28, the 30 share Sensex was up by 54.32 points to 20,388.59, while the Nifty-50 had gained 10.60 points to 6,064.05.
The broader markets outperformed the benchmark indices, with BSE Midcap and Smallcap increasing by about 0.3% and 0.5% respectively, compared to a 0.2% increase in the Sensex.
Foreign funds have been net sellers of Indian equities in six out of the last seven trading sessions in all markets, raising uncertainty over the outlook for fund flows and the rupee.
BSE IT was the major gainer among sectoral indices, backed primarily by gains of 1-2% each in HCL Technologies, Tech Mahindra, TCS, and Wipro. Auto, Bankex, Capital Goods, and Consumer Durables were other notable gainers, increasing moderately by 0.2-0.7% each. FMCG, Power, Oil and Gas, and Realty were down by 0.2-0.5% each.
The breadth of the market remained positive, with 661 advances and 338 declines. 51 scrips remained unchanged.
Tata Motors surged by more than 4% after it reported strong Q3 performance after market close on Monday. Maintaining its stellar performance in Jaguar-Land Rover, Tata Motors’ almost trebled its net profit and beat the street’s forecasts. Other major gainers include Sun Pharma and Tata Steel, which were up by 1-2% each.
Bharti Airtel continued to extend its losses, and was down by almost 2% to Rs. 301.35. Cipla, Coal India, Hindalco, Hero Motocorp, and NTPC were other notable losers, declining by 1.0-1.5% each. Cipla, along with Coal India, is scheduled to release its Q3 results later in the day.
Major Asian indices continued their upward trend, with Japan’s Nikkei-225 adding 256 points to 14,718 and Hong Kong’s Hang Seng increasing by 1.52% to 21,925. Singapore’s Strait Times was also up 18 points to 3,035.
Dhanlaxmi Bank has dipped by almost 5% to Rs 32.60, after reporting a net loss of Rs 119 crore for the third quarter ended December 31, 2013 (Q3), due to increasing NPAs and higher provisioning for bad loans. The private lender had profit of Rs 4 crore in the same period a year ago.
AstraZeneca Pharma India has by more than 12% to Rs. 831 on NSE after reporting a net profit of Rs 1.52 crore for the quarter ended December 31, 2013 (Q3FY14). The pharmaceutical company had posted loss of Rs 17.70 crore in the same quarter last fiscal.
Apollo Tyres, BPCL, Eicher Motors, HT Media, NCC, Oil India, Radico Khaitan, and Tata Communications are scheduled to announce their results for the quarter ended December 31, 2013 later today.
At 10:28, the 30 share Sensex was up by 54.32 points to 20,388.59, while the Nifty-50 had gained 10.60 points to 6,064.05.
The broader markets outperformed the benchmark indices, with BSE Midcap and Smallcap increasing by about 0.3% and 0.5% respectively, compared to a 0.2% increase in the Sensex.
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Rupee remained unchanged to the dollar at 62.43, as domestic demand from importers pared gains in the rupee on the back of a weak dollar index.
Foreign funds have been net sellers of Indian equities in six out of the last seven trading sessions in all markets, raising uncertainty over the outlook for fund flows and the rupee.
BSE IT was the major gainer among sectoral indices, backed primarily by gains of 1-2% each in HCL Technologies, Tech Mahindra, TCS, and Wipro. Auto, Bankex, Capital Goods, and Consumer Durables were other notable gainers, increasing moderately by 0.2-0.7% each. FMCG, Power, Oil and Gas, and Realty were down by 0.2-0.5% each.
The breadth of the market remained positive, with 661 advances and 338 declines. 51 scrips remained unchanged.
Tata Motors surged by more than 4% after it reported strong Q3 performance after market close on Monday. Maintaining its stellar performance in Jaguar-Land Rover, Tata Motors’ almost trebled its net profit and beat the street’s forecasts. Other major gainers include Sun Pharma and Tata Steel, which were up by 1-2% each.
Bharti Airtel continued to extend its losses, and was down by almost 2% to Rs. 301.35. Cipla, Coal India, Hindalco, Hero Motocorp, and NTPC were other notable losers, declining by 1.0-1.5% each. Cipla, along with Coal India, is scheduled to release its Q3 results later in the day.
Major Asian indices continued their upward trend, with Japan’s Nikkei-225 adding 256 points to 14,718 and Hong Kong’s Hang Seng increasing by 1.52% to 21,925. Singapore’s Strait Times was also up 18 points to 3,035.
Dhanlaxmi Bank has dipped by almost 5% to Rs 32.60, after reporting a net loss of Rs 119 crore for the third quarter ended December 31, 2013 (Q3), due to increasing NPAs and higher provisioning for bad loans. The private lender had profit of Rs 4 crore in the same period a year ago.
AstraZeneca Pharma India has by more than 12% to Rs. 831 on NSE after reporting a net profit of Rs 1.52 crore for the quarter ended December 31, 2013 (Q3FY14). The pharmaceutical company had posted loss of Rs 17.70 crore in the same quarter last fiscal.
Apollo Tyres, BPCL, Eicher Motors, HT Media, NCC, Oil India, Radico Khaitan, and Tata Communications are scheduled to announce their results for the quarter ended December 31, 2013 later today.