 "Nifty hovers around 8,700; midcap, smallcap outperform")
Benchmark indices continue to trade in a narrow range with Sensex and Nifty swinging between negative and positive zone.
At 13:55 PM, the S&P BSE Sensex was up 2 points at 28,356 and the Nifty50 was up 12 point at 8,728. In the broader markets, BSE Midcap and Smallcap indices are up 0.9%-1%.
Top gainers from the Sensex pack are Cipla, NTPC, SBI, Hero Moto and Asian Paints, all up between 1%-2%. Among losers, Coal India, TCS, Tata Motors, Sun Pharma and Power are down 1%-2%.
Minda Industries has rallied 13% to Rs 330 on the BSE, extending its past one-month rally, after the company’s consolidated net profit nearly doubled to Rs 27 crore in June 30, 2016 (Q1FY16) quarter, on the back of strong operational performance.
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Updated at 12:10 PM
Markets continued to remain rangebound with negative bias in noon trades on Wednesday with Tata group shares emerging as the top losers.
At 12:10pm, the S&P BSE Sensex was down 18 points at 28,335 and the Nifty50 was down 1 point at 8,714. In the broader markets, BSE Midcap and Smallcap indices are up 0.6%-0.8% each.
India's consumer price inflation slowed to 5.05% in August compared with 6.07% in the previous month as food prices eased, government data showed on Monday. Further, the country's industrial output eased to 2.4% in July from a year ago, because of sluggish production of capital goods and consumer non-durables.
The August whole-sale price index increased to 3.74% compared with 3.55% in July , as per the government data released today.
Foreign institutional investors were net sellers in equities worth Rs 594 crore on Monday, as per provisional stock exchange data. Markets were closed on Tuesday on account of Bakri ID.
Besides, India's June-September monsoon rains could start withdrawing from the north-western region of the country in the next three-four days, the weather department said on Tuesday.
SBI was up over 1%. The state-owned banking major is set to launch first foreign offering for dollar-denominated Additional Tier-I (AT1) bonds today. Issue’s minimum size is expected to be $500 million and indicative coupon rate is 5.5 per cent.
Tata Steel was down 2% on reports that the UK government's plan to save the company's UK business with pension reforms is said to have shelved. Other Tata Group shares, TCS and Tata Motors were down over 1.3% each.
Dr Reddy's Laboratories has been listed as an index component of the Dow Jones Sustainability Indices (DJSI) 2016 in the pharmaceuticals, biotechnology and life sciences industry group. The stock has reacted positively and is up 0.4%.
Coal India was down 2%. Low price realisation from e-auctions, fuelled by depleting interest income from banks on its cash reserves, in a situation when the demand of the fossil fuel is at a low, resulted in state-owned miner Coal India posting a decline of 14.78 per cent year-on-year in its net profit at Rs 3,065.28 crore for the quarter ended June.
Sun Pharma pared early gains and was down 0.6%. The pharma major's share buyback offer is set to open on Sept 22 and close on Oct 5. Sun Pharma will buy back up to 7.5 mn shares at Rs 900/share.
Among others, shares of gold mortgage firm Manappuram Finance surged nearly 4% on the BSE after the company raised Rs 200 crore through issuance of secured redeemable non-convertible debentures (NCDs) on a private placement basis to ICICI Prudential Mutual Fund.
Gitanjali Gems has touched its 52-week high of Rs 57.40, up 20% on the BSE, after the company's net profit more than doubled to Rs 57 crore for the quarter ended June 30, 2016 (Q1FY17), mainly due to lower interest cost.
At 13:55 PM, the S&P BSE Sensex was up 2 points at 28,356 and the Nifty50 was up 12 point at 8,728. In the broader markets, BSE Midcap and Smallcap indices are up 0.9%-1%.
Top gainers from the Sensex pack are Cipla, NTPC, SBI, Hero Moto and Asian Paints, all up between 1%-2%. Among losers, Coal India, TCS, Tata Motors, Sun Pharma and Power are down 1%-2%.
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Among other shares, Amtek Auto has plunged almost 6.5% after it reported a net loss of Rs 319.68 crore for the quarter ended June 30, 2016, hit by decline in sales.
Minda Industries has rallied 13% to Rs 330 on the BSE, extending its past one-month rally, after the company’s consolidated net profit nearly doubled to Rs 27 crore in June 30, 2016 (Q1FY16) quarter, on the back of strong operational performance.
************************************
Updated at 12:10 PM
Markets continued to remain rangebound with negative bias in noon trades on Wednesday with Tata group shares emerging as the top losers.
At 12:10pm, the S&P BSE Sensex was down 18 points at 28,335 and the Nifty50 was down 1 point at 8,714. In the broader markets, BSE Midcap and Smallcap indices are up 0.6%-0.8% each.
India's consumer price inflation slowed to 5.05% in August compared with 6.07% in the previous month as food prices eased, government data showed on Monday. Further, the country's industrial output eased to 2.4% in July from a year ago, because of sluggish production of capital goods and consumer non-durables.
The August whole-sale price index increased to 3.74% compared with 3.55% in July , as per the government data released today.
Foreign institutional investors were net sellers in equities worth Rs 594 crore on Monday, as per provisional stock exchange data. Markets were closed on Tuesday on account of Bakri ID.
Besides, India's June-September monsoon rains could start withdrawing from the north-western region of the country in the next three-four days, the weather department said on Tuesday.
SBI was up over 1%. The state-owned banking major is set to launch first foreign offering for dollar-denominated Additional Tier-I (AT1) bonds today. Issue’s minimum size is expected to be $500 million and indicative coupon rate is 5.5 per cent.
Tata Steel was down 2% on reports that the UK government's plan to save the company's UK business with pension reforms is said to have shelved. Other Tata Group shares, TCS and Tata Motors were down over 1.3% each.
Dr Reddy's Laboratories has been listed as an index component of the Dow Jones Sustainability Indices (DJSI) 2016 in the pharmaceuticals, biotechnology and life sciences industry group. The stock has reacted positively and is up 0.4%.
Coal India was down 2%. Low price realisation from e-auctions, fuelled by depleting interest income from banks on its cash reserves, in a situation when the demand of the fossil fuel is at a low, resulted in state-owned miner Coal India posting a decline of 14.78 per cent year-on-year in its net profit at Rs 3,065.28 crore for the quarter ended June.
Sun Pharma pared early gains and was down 0.6%. The pharma major's share buyback offer is set to open on Sept 22 and close on Oct 5. Sun Pharma will buy back up to 7.5 mn shares at Rs 900/share.
Among others, shares of gold mortgage firm Manappuram Finance surged nearly 4% on the BSE after the company raised Rs 200 crore through issuance of secured redeemable non-convertible debentures (NCDs) on a private placement basis to ICICI Prudential Mutual Fund.
Gitanjali Gems has touched its 52-week high of Rs 57.40, up 20% on the BSE, after the company's net profit more than doubled to Rs 57 crore for the quarter ended June 30, 2016 (Q1FY17), mainly due to lower interest cost.