 "Sensex down 70 points, FMCG shares weigh")
Benchmark indices are trading in a narrow range with negative bias weighed down by weakness in FMCG and select financials shares.
At 10:25AM, the 30-share Sensex fell 70 points at 19,918 and the 50-share Nifty declined 26 points at 5,869 levels.
On the global front, Asian stocks rose on Wednesday, on track to post their 10th straight day of gains, while investors gave the safe-haven yen a wide berth as optimism for the Chinese economy grew and worries about U.S. military strikes on Syria receded.
Back home, the rupee weakened in early trade due to dollar buying by state-run banks to meet demand of importers.
At 10:00 am, the rupee was trading at Rs 64.06 compared with previous close of Rs 63.84 per dollar.
Meanwhile, Inflation likely edged up to a sixth-month high in August, driven by higher food prices and as the battered rupee made key imports such as fuel costlier, a Reuters poll found.
On the sectoral front, BSE FMCG index has declined by nearly 1%. BSE Capital Goods, Metal, Realty, Healthcare and Consumer Durables indices have gained between 0.5-1.4%.
The main losers on the Sensex at this hour include ONGC, HUL, Tata Motors, NTPC and ITC, all declining between 1-2%.
On the gaining side, Hindalco, Maruti Suzuki, Hero Moto, L&T and Tata Steel have gained between 2-3%.
Among other shares, PVR is trading higher by 7% to Rs 428 extending its 6% rise in past four trading day’s on the National Stock Exchange (NSE).
Wockhardt has surged nearly 16% to Rs 713, extending its past four days rally, on back of positive developments in the company.
The market breadth in BSE remains positive with 949 shares advancing and 603 shares declining.
At 10:25AM, the 30-share Sensex fell 70 points at 19,918 and the 50-share Nifty declined 26 points at 5,869 levels.
On the global front, Asian stocks rose on Wednesday, on track to post their 10th straight day of gains, while investors gave the safe-haven yen a wide berth as optimism for the Chinese economy grew and worries about U.S. military strikes on Syria receded.
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Tokyo's Nikkei put on 0.5 percent, reaching highs not seen since late July. MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.2 percent, amassing gains of nearly 3 percent so far this week. It has surged more than 8 percent in two short weeks.
Back home, the rupee weakened in early trade due to dollar buying by state-run banks to meet demand of importers.
At 10:00 am, the rupee was trading at Rs 64.06 compared with previous close of Rs 63.84 per dollar.
Meanwhile, Inflation likely edged up to a sixth-month high in August, driven by higher food prices and as the battered rupee made key imports such as fuel costlier, a Reuters poll found.
On the sectoral front, BSE FMCG index has declined by nearly 1%. BSE Capital Goods, Metal, Realty, Healthcare and Consumer Durables indices have gained between 0.5-1.4%.
The main losers on the Sensex at this hour include ONGC, HUL, Tata Motors, NTPC and ITC, all declining between 1-2%.
On the gaining side, Hindalco, Maruti Suzuki, Hero Moto, L&T and Tata Steel have gained between 2-3%.
Among other shares, PVR is trading higher by 7% to Rs 428 extending its 6% rise in past four trading day’s on the National Stock Exchange (NSE).
Wockhardt has surged nearly 16% to Rs 713, extending its past four days rally, on back of positive developments in the company.
The market breadth in BSE remains positive with 949 shares advancing and 603 shares declining.