 "Sensex down nearly 100 pts; Midcaps up 1%")
Benchmark indices continue to maintain the weak trend weighed down by capital goods, auto and oil shares.
At 1310 hrs, the Sensex was down 82 points at 22,426 and the Nifty slipped 25 points to trade at 6,714.
Adds Devangshu Datta, Technical Analyst and market expert, ‘”Nifty may range trade 6730-6775 today – watch for breakouts / breakdowns outside this range. The advances -declines is very positive across the market. So there may be an upwards bias. (all futures prices)”.
With virtually no major data of note due in Asia, moves were minor across the region. Australia's share market inched up 0.2 percent .AXJO, while MSCI's broadest index of Asia-Pacific shares outside Japan .
Japan's Nikkei eased a fraction, with a softer yen providing some support, while Shanghai rose 0.2 percent.
Back home, the main losers on the Sensex at this hour include BHEL, Bharti Airtel, GAIL, NTPC, Bajaj Auto, Sun Pharma and Tata Motors.
The broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices are up by nearly 1% each.
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Updated at 11:46 AM
Markets continue to remain in negative territory, though the benchmark indices have come off day lows. Gains in private in private banks and IT heavyweights helped cap the losses in Oil & Gas majors and L&T.
At 1130 hrs, the Sensex was down 54 points at 22,455 and the Nifty slipped 15 points to trade at 6,720.
However, there was some buying in the broader markets with the mid and smallcap indices edging higher by 0.5-0.7%.
The rupee was trading at 60.33 per dollar, weaker than its previous close of 60.1650/1750, tracking weakness in local shares and importer dollar demand.
Most other Asian currencies like yuan, peso and baht were also trading weaker compared with the dollar.
Sectors & Stocks
Oil and Gas and Capital Goods indices down nearly a percent each were the top sectoral losers.
Power, Auto and FMCG indices down 0.3-0.6% were the only other sectors in red.
Realty, Consumer Durables up 1% each was the sectors gainers of the hour.
Banking, Metal and IT indices edged higher by 0.3% each.
The top gainers among Sensex-30 were Hindalco, Cipla, Tata Steel, Axis Bank, SBI and HDFC Bank up 0.4-0.8%.
IT majors TCS, Infosys and Wipro advanced 0.2-0.7%.
Among the ones in red were Gail India, BHEL, ONGC, Bharti Airtel, L&T, Sun Pharma, Bajaj Auto an NTPC down 1-2.5%.
Shares in sugar manufacturer have rallied by up to 13% after the India Ratings revised its FY15 outlook on the sector and the companies within the sector to “negative to stable” from negative.
Shree Renuka Sugars, Sakthi Sugars, Andhra Sugars, Balrampur Chini Mills, Bajaj Hindustan, EID Parry (India), Dhampur Sugar Mills and Upper Ganges Sugar are up 4-13%.
The market breadth was positive on BSE. 1297 stocks advanced while 976 stocks declined.
At 1310 hrs, the Sensex was down 82 points at 22,426 and the Nifty slipped 25 points to trade at 6,714.
Adds Devangshu Datta, Technical Analyst and market expert, ‘”Nifty may range trade 6730-6775 today – watch for breakouts / breakdowns outside this range. The advances -declines is very positive across the market. So there may be an upwards bias. (all futures prices)”.
Also Read
On the global front, Asian markets put discretion before valor on Friday as investors counted down the final hours to the U.S. jobs report, while the euro nursed a grudge after the European Central Bank opened the door to more aggressive easing, albeit not just yet.
With virtually no major data of note due in Asia, moves were minor across the region. Australia's share market inched up 0.2 percent .AXJO, while MSCI's broadest index of Asia-Pacific shares outside Japan .
Japan's Nikkei eased a fraction, with a softer yen providing some support, while Shanghai rose 0.2 percent.
Back home, the main losers on the Sensex at this hour include BHEL, Bharti Airtel, GAIL, NTPC, Bajaj Auto, Sun Pharma and Tata Motors.
The broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices are up by nearly 1% each.
******************************************
Updated at 11:46 AM
Markets continue to remain in negative territory, though the benchmark indices have come off day lows. Gains in private in private banks and IT heavyweights helped cap the losses in Oil & Gas majors and L&T.
At 1130 hrs, the Sensex was down 54 points at 22,455 and the Nifty slipped 15 points to trade at 6,720.
However, there was some buying in the broader markets with the mid and smallcap indices edging higher by 0.5-0.7%.
The rupee was trading at 60.33 per dollar, weaker than its previous close of 60.1650/1750, tracking weakness in local shares and importer dollar demand.
Most other Asian currencies like yuan, peso and baht were also trading weaker compared with the dollar.
Sectors & Stocks
Oil and Gas and Capital Goods indices down nearly a percent each were the top sectoral losers.
Power, Auto and FMCG indices down 0.3-0.6% were the only other sectors in red.
Realty, Consumer Durables up 1% each was the sectors gainers of the hour.
Banking, Metal and IT indices edged higher by 0.3% each.
The top gainers among Sensex-30 were Hindalco, Cipla, Tata Steel, Axis Bank, SBI and HDFC Bank up 0.4-0.8%.
IT majors TCS, Infosys and Wipro advanced 0.2-0.7%.
Among the ones in red were Gail India, BHEL, ONGC, Bharti Airtel, L&T, Sun Pharma, Bajaj Auto an NTPC down 1-2.5%.
Shares in sugar manufacturer have rallied by up to 13% after the India Ratings revised its FY15 outlook on the sector and the companies within the sector to “negative to stable” from negative.
Shree Renuka Sugars, Sakthi Sugars, Andhra Sugars, Balrampur Chini Mills, Bajaj Hindustan, EID Parry (India), Dhampur Sugar Mills and Upper Ganges Sugar are up 4-13%.
The market breadth was positive on BSE. 1297 stocks advanced while 976 stocks declined.