Don’t miss the latest developments in business and finance.

Markets remain range-bound; BSE Smallcap index up 0.6%

ONGC, Bharti Airtel and Larsen and Toubro have failed to rally and lost over 1% each

Stock broker looking at screen outside the Bombay Stock Exchange
Stock broker looking at screen outside the Bombay Stock Exchange
Shivansh Jauhri New Delhi
Last Updated : Sep 27 2016 | 1:13 PM IST
Benchmark indices continue to trade in a narrow range with positive bias led by buying among IT shares. However, the upside is capped due to selling among rate-sensitive sectors.

The benchmark S&P BSE Sensex was trading 44 points higher at 28,338 level. Nifty50 edged up 14 points hovering around 8,737 points, at 13:10 p.m.

Tata Consultancy Services, Asian Paints and Infosys Ltd are among the top gainers on Sensex, moving up between 1%-2%. On the other hand, ONGC, Bharti Airtel and Larsen and Toubro have failed to rally and lost over 1% each.

In Nifty50, Aurobindo Pharma Ltd, Zee Entertainment Enterprises Limited and Ambuja Cement Ltd gained between 3%-1%, while Bharat Petroleum Corporation Ltd, Tata Power and Bharti Infratel Ltd were among the top losers, slipping between 1%-2%.

Shares of Multi Commodity Exchange of India (MCX) has moved higher to its 52-week high of Rs 1,181, up 10% on the BSE in intra-day trade, extending its 16% surge in past two weeks.

The broader markets have maintained their performance, as both S&P BSE Midcap and Smallcap edged up by around 1%.

************************************
Updated at 11 am

Markets trimmed gains in late morning deals with the benchmark S&P BSE Sensex trading 56 points, or 0.2%, higher at 28,350 level. In broader markets, the Nifty50 index edged up 23 points, or 0.2%, hovering around 8,746 points at 10:50am. The BSE bendhmark had hit an intra-day hit of 28,432.

Tata Consultancy Services (TCS), Power Grid and Infosys are among the top S&P BSE Sensex gainers that moved up between 1-2%. Bharti Airtel, ICICI Bank and ONGC, on the other hand, are the top losers, slipping around 1%.

In Nifty50, Aurobindo Pharma Ltd, Zee Entertainment Enterprises Limited and Tata Consultancy Services gained between 1%-3%, while Bharti Airtel, Bharti Infratel Ltd and ICICI Bank became the major losers, edging down by around 1%-2%.

Among the other buzzing stocks of the day, Mukta Arts hit the upper circuit of 20% at Rs 102, also its 52-week high on the BSE, after the company said that it is planning to transfer its entire business of cinema division to its wholly-owned subsidiary Mukta A2 Cinemas.

IRB Infrastructure was trading higher by 3% to Rs 265 on the BSE after the company announced that it has received letter of award from the National Highways Authority of India (NHAI) for Rs 2100 crore highway project in Rajasthan and Gujarat.

ASIAN MARKETS

More From This Section


Asian shares recouped early losses on Tuesday and the dollar edged away from a one-month trough against the yen, suggesting investors judged Democrat Hillary Clinton was winning her debate against Republican Donald Trump.

Markets have tended to see Clinton as the candidate of the status quo, while few are sure what a Trump presidency might mean for US foreign policy, trade and the domestic economy.

Japan's Nikkei more than halved its losses to be down 0.4%, while the dollar edged up to 100.74 yen from a low of around 100.08.

MSCI's broadest index of Asia-Pacific shares outside Japan bounced to be down just 0.04%, while South Korea and Shanghai went flat. EMini futures for the S&P 500 recouped all its losses to trade 0.35 percent firmer.

"Markets started to call the debate for Hillary within the first 15 minutes or so, with the Mexican peso surging in what is probably its busiest Asian session in years," said Sean Callow, a senior currency analyst at Westpac in Sydney.

"The bounce in S&P futures, AUD and USD/JPY all show that investors were watching closely and didn't hesitate to declare Trump the loser."

OIL PRICES

Crude futures slipped in Asian trade on Tuesday as investors took profits after prices climbed more than 3% in the previous session.

The dollar was also weighing on oil prices after rising against a basket of currencies, suggesting markets were judging Democrat Hillary Clinton as the winner in the first US presidential debate with Republican candidate Donald Trump.

A stronger greenback makes commodities like crude that trade on a dollar basis more expensive for consumers that pay in other currencies.




With Reuters input

Also Read

First Published: Sep 27 2016 | 1:11 PM IST

Next Story