 "Markets trim gains; Infosys, Hero MotoCorp top losers")
Benchmark indices have erased early gains and are trading marginally positive. Selling among information technology shares have capped the upside.
At 11:15 AM, the 30-share Sensex was up 42 points at 27,773 and the 50-share Nifty was up 12 points at 8,365.
The top gainers on the Sensex are Coal India, L&T, Bharti Airtel, Hindalco and Cipla. On the losing side, Infosys, Hero Moto, Lupin, ICICI Bank and Wipro have slipped between 1-2%.
Updated at 10:15
Markets have recovered from the weak session and are trading marginally positive supported by capital goods, financials and metal shares.
At 10:15 AM, the 30-share Sensex was up 124 points at 27,854 and the 50-share Nifty was up 40 points at 8,393.
The broader markets are, however, outperforming the benchmark indices- BSE Midcap and Smallcap indices are up almost 1% each.
The market breadth is positive with 1,106 shares advancing and 65 shares declining on the BSE.
Markets may remain volatile this week as traders roll over positions in the futures & options (F&O) segment from the near month June 2015 series to July 2015 series. The near month June 2015 derivatives contracts expire on Thursday.
In the currency front, the rupee was lower by 10 paise in early trade, after four days of rise, at 63.62 against the US currency at the Interbank Foreign Exchange today due to the dollar's gain against other currencies overseas.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 651.31 crore yesterday as per provisional data released by the stock exchanges.
Further, the India Meteorological Department (IMD) said in its daily monsoon update issued yesterday, that the southwest monsoon has further advanced into some more parts of Gujarat region, Madhya Pradesh, most parts of Chhattisgarh and Jharkhand and some parts of Bihar.
GLOBAL MARKETS
Asian shares and US stock futures rose on Tuesday, bolstered by hopes that Greece's latest budget proposals would stave off a debt default and lead to a deal with lenders later this week.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3%, while Japan's Nikkei share average jumped 1.2% to a fresh 15-year high as investors bought back shares they sold in three losing weeks.
SECTORS & STOCKS
Sectors like Capital Goods, Banks, Metal and Realty have surged between 0.5-1%. However, BSE IT index has dipped marginally.
The top gainers from the Sensex pack are Coal India, Bharti Airtel, Hindalco, L&T and SBI.
Japan’s SoftBank said it would invest $20 billion along with Bharti Enterprises and Foxconn in setting up solar power parks in India. Shares of Bharti Airtel are up almost 2%.
Banking shares mainly public sector undertakings (PSU) were trading higher by up to 5% on the bourses after the Finance Minister Arun Jaitley said that the government will infuse capital in public sector banks in the next three to six months.
Union Bank of India (up 5% at Rs 158), Punjab National Bank (4% at Rs 144), Bank of Baroda (3.7% at Rs 152), Syndicate Bank (3% at Rs 108) and Oriental Bank of Commerce (3% at Rs 189) have rallied between 3%-5%, while Allahabad Bank, Canara Bank, IDBI Bank, Bank of India and State Bank of India (SBI) were up 1%-2% on the National Stock Exchange (NSE).
Among other shares, Jyoti Limited has locked in upper circuit of 20% at Rs 76.20 on the BSE after Lavjibhai Dungarbhai Daliya and Anjani Residency Private Limited have made an open offer to acquire controlling stake in the company at price of Rs 63 per share.
With Reuters input
At 11:15 AM, the 30-share Sensex was up 42 points at 27,773 and the 50-share Nifty was up 12 points at 8,365.
The top gainers on the Sensex are Coal India, L&T, Bharti Airtel, Hindalco and Cipla. On the losing side, Infosys, Hero Moto, Lupin, ICICI Bank and Wipro have slipped between 1-2%.
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Updated at 10:15
Markets have recovered from the weak session and are trading marginally positive supported by capital goods, financials and metal shares.
At 10:15 AM, the 30-share Sensex was up 124 points at 27,854 and the 50-share Nifty was up 40 points at 8,393.
The broader markets are, however, outperforming the benchmark indices- BSE Midcap and Smallcap indices are up almost 1% each.
The market breadth is positive with 1,106 shares advancing and 65 shares declining on the BSE.
Markets may remain volatile this week as traders roll over positions in the futures & options (F&O) segment from the near month June 2015 series to July 2015 series. The near month June 2015 derivatives contracts expire on Thursday.
In the currency front, the rupee was lower by 10 paise in early trade, after four days of rise, at 63.62 against the US currency at the Interbank Foreign Exchange today due to the dollar's gain against other currencies overseas.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 651.31 crore yesterday as per provisional data released by the stock exchanges.
Further, the India Meteorological Department (IMD) said in its daily monsoon update issued yesterday, that the southwest monsoon has further advanced into some more parts of Gujarat region, Madhya Pradesh, most parts of Chhattisgarh and Jharkhand and some parts of Bihar.
GLOBAL MARKETS
Asian shares and US stock futures rose on Tuesday, bolstered by hopes that Greece's latest budget proposals would stave off a debt default and lead to a deal with lenders later this week.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3%, while Japan's Nikkei share average jumped 1.2% to a fresh 15-year high as investors bought back shares they sold in three losing weeks.
SECTORS & STOCKS
Sectors like Capital Goods, Banks, Metal and Realty have surged between 0.5-1%. However, BSE IT index has dipped marginally.
The top gainers from the Sensex pack are Coal India, Bharti Airtel, Hindalco, L&T and SBI.
Japan’s SoftBank said it would invest $20 billion along with Bharti Enterprises and Foxconn in setting up solar power parks in India. Shares of Bharti Airtel are up almost 2%.
Banking shares mainly public sector undertakings (PSU) were trading higher by up to 5% on the bourses after the Finance Minister Arun Jaitley said that the government will infuse capital in public sector banks in the next three to six months.
Union Bank of India (up 5% at Rs 158), Punjab National Bank (4% at Rs 144), Bank of Baroda (3.7% at Rs 152), Syndicate Bank (3% at Rs 108) and Oriental Bank of Commerce (3% at Rs 189) have rallied between 3%-5%, while Allahabad Bank, Canara Bank, IDBI Bank, Bank of India and State Bank of India (SBI) were up 1%-2% on the National Stock Exchange (NSE).
Among other shares, Jyoti Limited has locked in upper circuit of 20% at Rs 76.20 on the BSE after Lavjibhai Dungarbhai Daliya and Anjani Residency Private Limited have made an open offer to acquire controlling stake in the company at price of Rs 63 per share.
With Reuters input