 "Markets trade weak ahead of Railway Budget")
Benchmark indices are trading weak as investors remain wary ahead of the Feb F&O expiry later during the day. Also, participants would also eye announcements in Rail Budget 2015-16 which would be tabled in Parliament by Rail Minister Suresh Prabhu later during the day.
At 10.25 AM, the Sensex is down 91 points at 28,917 whereas the Nifty has lost 27 points at 8,740.
In the broader market, both BSE Midcap and Smallcap indices are trading in line with the large counterparts and are down 0.3% each.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 516.06 crore yesterday, as per provisional data. Domestic institutional investors (DIIs) bought shares worth a net Rs 19.70 crore yesterday, as per provisional data.
KEY STOCKS:
On the sectoral front, BSE Healthcare index is the top loser down 1% followed by BSE IT, Teck indices trading lower up to 0.5%. However, BSE Metal, Power and Oil & Gas indices are trading higher up to 0.2%.
Also Read
Rail-related stocks are trading mixed on BSE in early morning trade, ahead of the Railway Budget today. Titagarh Wagons, Hind Rectifiers, Cimmco and Container Corporation are trading higher between 1-5%, while Kernex Microsystems, Texmaco Rail and Engineering, Stone India and Kalindee Rail Nirman down 1-4% on the Bombay Stock Exchange (BSE).
Shares of Tata Power are trading lower by 0.2%. Tata Power has given its multi-year rates proposal to the state electricity regulator, proposing lower charges for residential, commercial and industrial users in this city.
Attorney Generals of Texas and California have separately sought information on pricing of some drugs sold by Dr Reddy's Laboratories in the US, according to the latest filing for the drug maker with Securities and Exchange Commission (SEC). The stock is down 1%.
Sun Pharmaceutical Industries’ executive director, Sudhir Valia, Valia has purchased shares worth Rs 73.5 crore in Greenply Industries. However, the stock has dipped nearly 2%.
An appreciating rupee has casted its shadow on the IT stocks. Infosys, TCS and Wipro are down between 0.1-1.2%.
Other major losers include Axis Bank, Cipla, Hindalco, Maruti Suzuki and Bajaj Auto down between 1-1.5%.
On the flip side, Bharti Airtel India's biggest mobile phone operator by users, is raising as much as $415 million through the sale of shares in mobile tower unit Bharti Infratel, according to media reports. The stock has climbed 1%.
Ratan Tata, former chairman of Tata Sons, has confirmed Jaguar Land Rover, luxury vehicle arm of Tata Motors, is looking for a factory site in North America. The stock has gained nearly 0.5%.
State-owned NTPC said its board has approved the investment proposal for 1,320 MW thermal power project in Madhya Pradesh. The stock is trading with marginal gains.
China's flash HSBC PMI index rose to 50.1 in February 2015 compared with a final reading of 49.7 in January 2015. Following it, metal stocks including Sesa Sterlite and Tata Steel are trading higher up to 2%.
Energy major ONGC which reeled under selling pressure from last couple of sessions has rebounded in today’s trade on value buying. The stock is up 0.7%.
Other prominent gainers include BHEL, RIL, HDFC and ICICI Bank and are up between 0.5-1%.