 "Sensex slips below 22,300; FMCG & financials weigh")
Markets are trading in a narrow range with negative bias prevailing. At 1430 hrs, the Sensex was down 52 points at 22,288 and the Nifty slipped 22 points at 6.673.
Adds Chetan Jain - Deputy Manager (Derivatives Desk) at Anand Rathi Financial Services., “Nifty future started the April series on a positive note and buying seen across the board especially in power, PSU, Realty and Metal space.”
The main losers on the Sensex are Dr Reddy’s Labs, Tata Power, ONGC, ITC and Wipro.
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Updated at 12:42
After opening at a record high, markets have came of day highs as weakness in IT heavyweights and ITC weighed on the indices.
At 1225 hrs, the Sensex was up 25 points at 22,364 and the Nifty was flat at 6.697 with a one point gain.
In the broader markets, the smallcap index was up 1% and the midcap index advanced 0.7%, both outperforming the BSE benchmark index up marginally by 0.1%.
Among the sectoral indices, Power index and defensive pockets like IT, FMCG and Health Care indices were down 0.2-0.9%.
Meanwhile, Auto and Realty indices gained 1% each while Metal and Consumer Durables indices gained 3% each and were the top sectoral gainers during the hour.
Banking index inched higher up 0.2%.
The top gainers among Sensex-30 were Hindalco, Bharti Airtel, Tata Steel, Hero MotoCorp, Bajaj Auto, Sesa Sterlite, Maruti Suzuki and Tata Motors up 1.5-3.5%.
Among the ones in red were Dr Reddys Lab, ITC, Tata Power and Gail India down 2% each.
Wipro, ONGC, NTPC, ICICI Bank, BHEL and Cipla 0.3-1.5% were the other prominent losers.
The market breadth was positive on the BSE owing to the strength in broader markets. 1,537 stocks advanced while 897 stocks declined.
Adds Chetan Jain - Deputy Manager (Derivatives Desk) at Anand Rathi Financial Services., “Nifty future started the April series on a positive note and buying seen across the board especially in power, PSU, Realty and Metal space.”
The main losers on the Sensex are Dr Reddy’s Labs, Tata Power, ONGC, ITC and Wipro.
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Updated at 12:42
After opening at a record high, markets have came of day highs as weakness in IT heavyweights and ITC weighed on the indices.
At 1225 hrs, the Sensex was up 25 points at 22,364 and the Nifty was flat at 6.697 with a one point gain.
In the broader markets, the smallcap index was up 1% and the midcap index advanced 0.7%, both outperforming the BSE benchmark index up marginally by 0.1%.
Among the sectoral indices, Power index and defensive pockets like IT, FMCG and Health Care indices were down 0.2-0.9%.
Meanwhile, Auto and Realty indices gained 1% each while Metal and Consumer Durables indices gained 3% each and were the top sectoral gainers during the hour.
Banking index inched higher up 0.2%.
The top gainers among Sensex-30 were Hindalco, Bharti Airtel, Tata Steel, Hero MotoCorp, Bajaj Auto, Sesa Sterlite, Maruti Suzuki and Tata Motors up 1.5-3.5%.
Among the ones in red were Dr Reddys Lab, ITC, Tata Power and Gail India down 2% each.
Wipro, ONGC, NTPC, ICICI Bank, BHEL and Cipla 0.3-1.5% were the other prominent losers.
The market breadth was positive on the BSE owing to the strength in broader markets. 1,537 stocks advanced while 897 stocks declined.