 "Nifty hovers around 8,800; Infrastructure stocks gain")
Markets turned choppy in late noon trades after a bout of profit booking intra-day with infrastructure stocks gaining the most after the Cabinet toward annouced changes in arbitration norms in an effort to re-start stalled projects.
At 2PM, the S&P BSE Sensex was up 169 points at 28,512 and the Nifty50 was up 69 points at 8,814. In the broader market, the BSE Midcap and Smallcap indices were up 0.5%-0.8% each.
Foreign institutional investors were net buyers in equities worth Rs 391 crore on Tuesday, as per provisional stock exchange data.
Tata Motors extended gains and was up over 2.5% post its June quarter results. The auto major reported better-than-expected revenues with 9% growth in consolidated net income and JLR revenue for the June 2016 quarter.
Among other auto shares, Maruti Suzuki and M&M were up 0.5% while in the two-wheeler space Hero MotoCorp gained 2% and Bajaj Auto gained nearly 1%.
Financials continued to trade firm with private lenders among the top gainers. ICICI Bank and HDFC Bank were up 1%-1.5% each.
IT majors pared early losses amid renewed buying interest. Infosys and Wipro were up 0.5%-1% each.
UltraTech Cement was up nearly 4% after the Reserve Bank of India (RBI) allowed foreign investors to invest up to 30% in the cement major.
In the infrastructure space, HCC was up 20% at Rs 27.50, NCC was up 3.5% and IL&FS Engineering was up over 3%
At 2PM, the S&P BSE Sensex was up 169 points at 28,512 and the Nifty50 was up 69 points at 8,814. In the broader market, the BSE Midcap and Smallcap indices were up 0.5%-0.8% each.
Foreign institutional investors were net buyers in equities worth Rs 391 crore on Tuesday, as per provisional stock exchange data.
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European shares were trading mixed after weakness in early trades. Germany's DAX was trading flat with negative bias while FTSE and CAC-40 were trading with marginal gains.
Tata Motors extended gains and was up over 2.5% post its June quarter results. The auto major reported better-than-expected revenues with 9% growth in consolidated net income and JLR revenue for the June 2016 quarter.
Among other auto shares, Maruti Suzuki and M&M were up 0.5% while in the two-wheeler space Hero MotoCorp gained 2% and Bajaj Auto gained nearly 1%.
Financials continued to trade firm with private lenders among the top gainers. ICICI Bank and HDFC Bank were up 1%-1.5% each.
IT majors pared early losses amid renewed buying interest. Infosys and Wipro were up 0.5%-1% each.
UltraTech Cement was up nearly 4% after the Reserve Bank of India (RBI) allowed foreign investors to invest up to 30% in the cement major.
In the infrastructure space, HCC was up 20% at Rs 27.50, NCC was up 3.5% and IL&FS Engineering was up over 3%