 "Broader markets outperform in a flat market; Nifty holds 7,900")
Benchmark indices continue to remain rangebound with Sensex and Nifty swinging between negative and positive zone.
At 13:00 pm, the Sensex was at 26,151 mark up 22 points while the Nifty was trading at 7,941 down 2 points. The broader markets are outperforming- BSE Midcap and Smallcap indices are up 0.3-1%.
The top gainers from the Sensex pack are Bajaj Auto, Tata Motors, ICICI Bank, Maruti Suzki and M&M. On the losing side, Vedanta, Bharti Airtel, Sun Pharma, HDFC and ONGC are down between 1-1.4%.
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Updated at 11:35 am
Benchmark indices continue to trade in a narrow range as investors are maintaining cautious stance ahead of key macro-economic announcements like Q2 GDP and RBI Policy.
At 11:35 am, the Sensex was at 26,118 mark down 10 points while the Nifty was trading at 7,933 down 9 points. The broader markets are outperforming- BSE Midcap and Smallcap indices are up 0.3-1%.
According to MOSL market outlook, "Nifty is tied within the immediate band of 7,800 to 8,000 ; awaiting an impulse move which will trigger fresh momentum. The reversion of momentum indicator form its oversold zone augurs well for the ongoing pullback. Nifty futures being insensitive to the rise and short covering in many stocks keeps the bias neutral. Options Band for Nifty remains 8,500-7,500 and Nifty is almost equidistant to the same, sending neutral signals".
GDP data for September quarter would be announced today. Most economists estimate GDP growth in the second quarter at 7.3-7.6%.
RBI would announce its fifth bi-monthly monetary policy review tomorrow. A Reuter’s poll of economists showed that the Reserve Bank of India is expected to hold its policy interest rate at 6.75% next week to stifle inflation.
In the currency front, the rupee depreciated 8 paise to quote at fresh over two-year low of 66.84 against the dollar on month-end demand for the American currency from importers and banks.
BUZZING STOCKS
Rate-sensitive sectors are in focus ahead of RBI Monetary policy. Besides, auto shares are also in radar ahead of the monthly sales data announcement from auto companies starting Tuesday.
From the auto space, Bajaj Auto, Tata Motors, Maruti Suzuki, M&M and Hero Moto are up 1-2.3%.
Tata Motors has launched a new car called Zica, a compact hatchback. Expected to be priced around Rs 4 lakh, Zica will compete against Hyundai i10,Maruti Suzuki Wagon-R, Chevrolet Beat and Datsun Go, among others in that category.
Shares of Maruti Suzuki are up over 1.5%. The carmaker aims to increase its annual sales to about 2 million units by 2020, will invest Rs 15,000 crore over the next five years in procuring land for doubling its dealership network and expanding stockyard, warehouse and transportation infrastructure.
From the capital goods segment, L&T has gained 1%. L&T Finance has invested Rs 100 crore in two residential projects of Rishabh Group in the NCR region, as per an industry source.
Vedanta is the top Sensex loser, down over 1%. The company has incurred a cumulative loss of Rs 4,299 core on its 1 million tonne Lanjigarh alumina refinery since the beginning of commercial operations in August 2007.
Among other shares, Rajesh Exports has moved higher by 4% to Rs 705 after bagging an export order worth Rs 1,122 crore of designer range of gold and diamond studded jewellery and medallions from UAE.
IDBI Bank has rallied 9% to Rs 94, also its 52-week high on the National Stock Exchange (NSE) on heavy volumes.
BF Utilities has rallied 7% to Rs 616 on the BSE in early morning trade after the company reported nearly doubled standalone net profit at Rs 8.11 crore for the fourth quarter ended September 2015.
At 13:00 pm, the Sensex was at 26,151 mark up 22 points while the Nifty was trading at 7,941 down 2 points. The broader markets are outperforming- BSE Midcap and Smallcap indices are up 0.3-1%.
The top gainers from the Sensex pack are Bajaj Auto, Tata Motors, ICICI Bank, Maruti Suzki and M&M. On the losing side, Vedanta, Bharti Airtel, Sun Pharma, HDFC and ONGC are down between 1-1.4%.
**************************************
Updated at 11:35 am
Benchmark indices continue to trade in a narrow range as investors are maintaining cautious stance ahead of key macro-economic announcements like Q2 GDP and RBI Policy.
At 11:35 am, the Sensex was at 26,118 mark down 10 points while the Nifty was trading at 7,933 down 9 points. The broader markets are outperforming- BSE Midcap and Smallcap indices are up 0.3-1%.
According to MOSL market outlook, "Nifty is tied within the immediate band of 7,800 to 8,000 ; awaiting an impulse move which will trigger fresh momentum. The reversion of momentum indicator form its oversold zone augurs well for the ongoing pullback. Nifty futures being insensitive to the rise and short covering in many stocks keeps the bias neutral. Options Band for Nifty remains 8,500-7,500 and Nifty is almost equidistant to the same, sending neutral signals".
GDP data for September quarter would be announced today. Most economists estimate GDP growth in the second quarter at 7.3-7.6%.
RBI would announce its fifth bi-monthly monetary policy review tomorrow. A Reuter’s poll of economists showed that the Reserve Bank of India is expected to hold its policy interest rate at 6.75% next week to stifle inflation.
In the currency front, the rupee depreciated 8 paise to quote at fresh over two-year low of 66.84 against the dollar on month-end demand for the American currency from importers and banks.
BUZZING STOCKS
Rate-sensitive sectors are in focus ahead of RBI Monetary policy. Besides, auto shares are also in radar ahead of the monthly sales data announcement from auto companies starting Tuesday.
From the auto space, Bajaj Auto, Tata Motors, Maruti Suzuki, M&M and Hero Moto are up 1-2.3%.
Tata Motors has launched a new car called Zica, a compact hatchback. Expected to be priced around Rs 4 lakh, Zica will compete against Hyundai i10,Maruti Suzuki Wagon-R, Chevrolet Beat and Datsun Go, among others in that category.
Shares of Maruti Suzuki are up over 1.5%. The carmaker aims to increase its annual sales to about 2 million units by 2020, will invest Rs 15,000 crore over the next five years in procuring land for doubling its dealership network and expanding stockyard, warehouse and transportation infrastructure.
From the capital goods segment, L&T has gained 1%. L&T Finance has invested Rs 100 crore in two residential projects of Rishabh Group in the NCR region, as per an industry source.
Vedanta is the top Sensex loser, down over 1%. The company has incurred a cumulative loss of Rs 4,299 core on its 1 million tonne Lanjigarh alumina refinery since the beginning of commercial operations in August 2007.
Among other shares, Rajesh Exports has moved higher by 4% to Rs 705 after bagging an export order worth Rs 1,122 crore of designer range of gold and diamond studded jewellery and medallions from UAE.
IDBI Bank has rallied 9% to Rs 94, also its 52-week high on the National Stock Exchange (NSE) on heavy volumes.
BF Utilities has rallied 7% to Rs 616 on the BSE in early morning trade after the company reported nearly doubled standalone net profit at Rs 8.11 crore for the fourth quarter ended September 2015.