 "Nifty holds 7,950; April IIP, May CPI & Reliance Inds AGM eyed")
Benchmark indices continue to trade marginally positive led by index heavyweights like Reliance Industries, Infosys and HDFC. However, the upside is capped due to selling among metal and select auto shares.
By 10:30, the S&P BSE Sensex was higher by 65 points at 26,436 levels and the CNX Nifty is trading at 7,977, up 13 points.
The broader markets are trading mixed. BSE Midcap index has gained 0.4% and the Smallcap index is trading marginally lower. The market breadth is weak with 956 declines versus 763 advances on the BSE.
Meanwhile, the India Meteorological Department (IMD) said in its daily monsoon update yesterday that the Southwest Monsoon has been active over Assam & Meghalaya, Nagaland, Manipur, Mizoram & Tripura and Sub-Himalayan West Bengal & Sikkim during past 24 hours.
KEY ANNOUNCEMENTS TODAY
The government is scheduled to unveil industrial production data for April 2015 today. The government is also scheduled to unveil the consumer price index (CPI) data for the month of May 2015.
Reliance Industries 41st Annual General Meeting (AGM) will be held today. Mukesh Ambani, chairman and managing director of Reliance Industries, likely to announce plans for telecom subsidiary Reliance Jio Infocomm in its AGM.
SECTORS & STOCKS
BSE Oil & Gas index has surged around 1% followed by counters like FMCG, IT, Banks, Capital Goods, Power and Realty, all gaining marginally. However, BSE Metal, Auto and Healthcare indices are trading lower between 0.2-1%.
Relinace Inds is up over 1% ahead of the annual general meeting, which will be held today.
Other notable gainers are Tata Power, BHEL, Infosys, Hero Moto, ITC, ICICI Bank and HDFC.
On the losing side, Tata Motors is the top Sensex loser, down around 2%. Vedanta, Coal India, Hindalco, Sun Pharma and HUL have dropped between 0.4-1.4%.
Vedanta is set to make an official announcement on Sunday regarding its merger with wholly owned subsidiary Cairn India. Vedanta is down over 1%.
Tata Motors and Fiat have begun strategic talks. The partners are discussing product and investment plans which will be finalised for the jointly owned facility at Pune.
Among other shares, Varun Shipping are locked in the upper circuit of 5% after the company in its action report informed the Securities and Exchange Board of India (SEBI) that all the pending 90 investor complaints have been resolved.
Shares of Novartis have slumped over 8% and are currently quoting at Rs 771 on the BSE after staging a smart rally of 20% in yesterday’s trade on reports suggesting that Novartis AG, parent company, is considering delisting of Indian unit, Novartis India from the Bombay Stock Exchange.
By 10:30, the S&P BSE Sensex was higher by 65 points at 26,436 levels and the CNX Nifty is trading at 7,977, up 13 points.
The broader markets are trading mixed. BSE Midcap index has gained 0.4% and the Smallcap index is trading marginally lower. The market breadth is weak with 956 declines versus 763 advances on the BSE.
Also Read
In the currency front, the rupee recovered by 5 paise to trade at 63.92 against the US dollar in early trade today at the Interbank Foreign Exchange market on fresh selling of the American currency by exporters.
Meanwhile, the India Meteorological Department (IMD) said in its daily monsoon update yesterday that the Southwest Monsoon has been active over Assam & Meghalaya, Nagaland, Manipur, Mizoram & Tripura and Sub-Himalayan West Bengal & Sikkim during past 24 hours.
KEY ANNOUNCEMENTS TODAY
The government is scheduled to unveil industrial production data for April 2015 today. The government is also scheduled to unveil the consumer price index (CPI) data for the month of May 2015.
Reliance Industries 41st Annual General Meeting (AGM) will be held today. Mukesh Ambani, chairman and managing director of Reliance Industries, likely to announce plans for telecom subsidiary Reliance Jio Infocomm in its AGM.
SECTORS & STOCKS
BSE Oil & Gas index has surged around 1% followed by counters like FMCG, IT, Banks, Capital Goods, Power and Realty, all gaining marginally. However, BSE Metal, Auto and Healthcare indices are trading lower between 0.2-1%.
Relinace Inds is up over 1% ahead of the annual general meeting, which will be held today.
Other notable gainers are Tata Power, BHEL, Infosys, Hero Moto, ITC, ICICI Bank and HDFC.
On the losing side, Tata Motors is the top Sensex loser, down around 2%. Vedanta, Coal India, Hindalco, Sun Pharma and HUL have dropped between 0.4-1.4%.
Vedanta is set to make an official announcement on Sunday regarding its merger with wholly owned subsidiary Cairn India. Vedanta is down over 1%.
Tata Motors and Fiat have begun strategic talks. The partners are discussing product and investment plans which will be finalised for the jointly owned facility at Pune.
Among other shares, Varun Shipping are locked in the upper circuit of 5% after the company in its action report informed the Securities and Exchange Board of India (SEBI) that all the pending 90 investor complaints have been resolved.
Shares of Novartis have slumped over 8% and are currently quoting at Rs 771 on the BSE after staging a smart rally of 20% in yesterday’s trade on reports suggesting that Novartis AG, parent company, is considering delisting of Indian unit, Novartis India from the Bombay Stock Exchange.