 "Sensex hovers around 21,000; Bharti Airtel top gainer")
Benchmark indices have trimmed early gains and are trading marginally positive as investors booked profits at higher levels after both the benchmark indices cruised near their all-time highs.
At 11:15AM the Sensex was up 79 points at 21,008 and the Nifty was up 25 points at 6,246.
On the global front, Asian share markets took heart from record highs in U.S. stocks on Wednesday as investors wagered the Federal Reserve would rock no boats at its policy meeting and leave stimulus in place for the next few months at least.
A mixed bag of economic data caused few frowns since it merely reinforced expectations the Fed will maintain the status quo when its two-day policy meeting ends on Wednesday.
Back home, DLF, Godrej Properties, IDBI Bank, Jindal Steel, LIC Housing Fin and Lupin will unveil the second quarter earnings today.
The market will remain volatile this week as traders will roll over positions in the futures & options (F&O) segment from the near month to November series. The near month October derivatives contract will expire tomorrow.
The rupee weakened in early trade today due to dollar buying by importers. Sentiment was cautious ahead of the Federal Reserve's meeting this week.
At 11:00 AM, the rupee was trading at Rs 61.455 compared with previous close of Rs 61.32 per dollar.
Meanwhile, foreign institutional investors (FIIs) bought shares worth a net Rs 1103.04 crore on Tuesday, 29 October 2013, as per provisional data from the stock exchanges.
On the sectoral front, BSE Realty, Healthcare, Bankex and TECk indices have gained between 0.6-1.5%. Apart from Auto and Oil & Gas, all the major BSE sectoral indices are trading in positive zone.
Bharti Airtel is the top Sensex gainer, up nearly 4% after the company said its consolidated operating or EBITDA margin improvement for the second quarter ended September 2013 (Q2FY14).
The stock has recovered 7.5% from intra-day’s low of Rs 335 touched in early morning deals on the Bombay Stock Exchange.
Other notable gainers are BHEL, ICICI Bank, Dr Reddy’s Lab, TCS, Bajaj Auto and Maruti Suzuki, all rising between 1-2%.
On the losing side, Wipro, M&M, Tata Power, Sesa Sterlite and ONGC have declined between 1-2%.
Among other shares, Shares of Financial Technologies (India) has soared 11% to Rs 175 on back of heavy volumes on the bourses. The stock opened at Rs 159 and touched high of Rs 184 on the National Stock Exchange (NSE).
Tata Communications has galloped over 10% to Rs 252 on BSE, after reporting a consolidated net profit of Rs 80 crore for the second quarter ended September 2013 (Q2) on the back of growth in managed services and voice offerings. The company had reported loss of Rs 274 crore in the corresponding quarter of previous fiscal.
The market breadth in BSE remains positive with 992 shares advancing and 705 shares declining.
At 11:15AM the Sensex was up 79 points at 21,008 and the Nifty was up 25 points at 6,246.
On the global front, Asian share markets took heart from record highs in U.S. stocks on Wednesday as investors wagered the Federal Reserve would rock no boats at its policy meeting and leave stimulus in place for the next few months at least.
More From This Section
Japan's Nikkei led the way with a gain of 1.2%, while Australian shares added 0.4% and Shanghai 0.5%. MSCI's index of Asia-Pacific shares outside Japan crept up 0.3%.
A mixed bag of economic data caused few frowns since it merely reinforced expectations the Fed will maintain the status quo when its two-day policy meeting ends on Wednesday.
Back home, DLF, Godrej Properties, IDBI Bank, Jindal Steel, LIC Housing Fin and Lupin will unveil the second quarter earnings today.
The market will remain volatile this week as traders will roll over positions in the futures & options (F&O) segment from the near month to November series. The near month October derivatives contract will expire tomorrow.
The rupee weakened in early trade today due to dollar buying by importers. Sentiment was cautious ahead of the Federal Reserve's meeting this week.
At 11:00 AM, the rupee was trading at Rs 61.455 compared with previous close of Rs 61.32 per dollar.
Meanwhile, foreign institutional investors (FIIs) bought shares worth a net Rs 1103.04 crore on Tuesday, 29 October 2013, as per provisional data from the stock exchanges.
On the sectoral front, BSE Realty, Healthcare, Bankex and TECk indices have gained between 0.6-1.5%. Apart from Auto and Oil & Gas, all the major BSE sectoral indices are trading in positive zone.
Bharti Airtel is the top Sensex gainer, up nearly 4% after the company said its consolidated operating or EBITDA margin improvement for the second quarter ended September 2013 (Q2FY14).
The stock has recovered 7.5% from intra-day’s low of Rs 335 touched in early morning deals on the Bombay Stock Exchange.
Other notable gainers are BHEL, ICICI Bank, Dr Reddy’s Lab, TCS, Bajaj Auto and Maruti Suzuki, all rising between 1-2%.
On the losing side, Wipro, M&M, Tata Power, Sesa Sterlite and ONGC have declined between 1-2%.
Among other shares, Shares of Financial Technologies (India) has soared 11% to Rs 175 on back of heavy volumes on the bourses. The stock opened at Rs 159 and touched high of Rs 184 on the National Stock Exchange (NSE).
Tata Communications has galloped over 10% to Rs 252 on BSE, after reporting a consolidated net profit of Rs 80 crore for the second quarter ended September 2013 (Q2) on the back of growth in managed services and voice offerings. The company had reported loss of Rs 274 crore in the corresponding quarter of previous fiscal.
The market breadth in BSE remains positive with 992 shares advancing and 705 shares declining.