 "Markets slip in negative zone, Nifty breaks 8,100; ITC falls 3%")
Benchmark share indices remained rangebound in noon trades of Tuesday with IT majors leading the gains after the rupee weakened against the US dollar.
At 15:25 pm, the S&P BSE Sensex was down 28 points at 26,277 and the Nifty50 was down 7 points at 8,101. The broader markets rebounded after a sharp fall in the previous sessions. The BSE Midcap and Smallcap indices were up 0.8%-1% each. Market breadth remained positive with 1243 advances and 1053 declines on the BSE.
Foreign institutional investors were net sellers in equities worth Rs 2354 crore on Tuesday, as per provisional stock exchange data.
Index Stocks
IT exporters which gain most of their revenue from exports to the US emerged as the top gainers on expectation that the weak rupee would boost revenues. Tata-group company TCS was up nearly 4% while Infosys was up nearly 3%. Among others, Wipro and HCL Technologies were up 1% each.
Auto, financials and consumer durables stocks which had lost ground in the previous sessions on worries of demand slowdown post the demonetisation by the government staged a recovery on short covering and value buying at lower levels.
In the banking pack, SBI and ICICI Bank were up 1%-2% each.
Maruti Suzuki was the top gainer in the auto pack up nearly 3% followed by Tata Motors, M&M, Bajaj Auto and Hero MotoCorp among others.
Asian Paints which had lost over 20% in the previous few sessions gained over 4%.
Broader Markets
Housing finance companies which had witnessed a sharp sell-off in the previous sessions on concerns over drop in demand for credit post the demonetisation also rebounded in today's session. Can Fin Homes, Repco Home Finance, LIC Housing Finance, Gruh Finance were up 3%-13% each.
Tata Global Beverages was up 5% after the company reported 60% year on year (YoY) growth in consolidated net profit at Rs 140 crore for the second quarter ended September 30, 2016 (Q2FY17). The company had profit of Rs 87 crore in the same quarter last year. Meanwhile, Cyrus Mistry was replaced with group veteran Harish Bhat as its chairman.
At 15:25 pm, the S&P BSE Sensex was down 28 points at 26,277 and the Nifty50 was down 7 points at 8,101. The broader markets rebounded after a sharp fall in the previous sessions. The BSE Midcap and Smallcap indices were up 0.8%-1% each. Market breadth remained positive with 1243 advances and 1053 declines on the BSE.
Foreign institutional investors were net sellers in equities worth Rs 2354 crore on Tuesday, as per provisional stock exchange data.
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Meanwhile, the winter session of the Parliaments starts today with the crucial Goods and Services Tax and the demonetisation move by the government in focus.
Index Stocks
IT exporters which gain most of their revenue from exports to the US emerged as the top gainers on expectation that the weak rupee would boost revenues. Tata-group company TCS was up nearly 4% while Infosys was up nearly 3%. Among others, Wipro and HCL Technologies were up 1% each.
Auto, financials and consumer durables stocks which had lost ground in the previous sessions on worries of demand slowdown post the demonetisation by the government staged a recovery on short covering and value buying at lower levels.
In the banking pack, SBI and ICICI Bank were up 1%-2% each.
Maruti Suzuki was the top gainer in the auto pack up nearly 3% followed by Tata Motors, M&M, Bajaj Auto and Hero MotoCorp among others.
Asian Paints which had lost over 20% in the previous few sessions gained over 4%.
Broader Markets
Housing finance companies which had witnessed a sharp sell-off in the previous sessions on concerns over drop in demand for credit post the demonetisation also rebounded in today's session. Can Fin Homes, Repco Home Finance, LIC Housing Finance, Gruh Finance were up 3%-13% each.
Tata Global Beverages was up 5% after the company reported 60% year on year (YoY) growth in consolidated net profit at Rs 140 crore for the second quarter ended September 30, 2016 (Q2FY17). The company had profit of Rs 87 crore in the same quarter last year. Meanwhile, Cyrus Mistry was replaced with group veteran Harish Bhat as its chairman.