 "Markets witness volatility; Nifty hovers around 8,000")
Benchmark indices have once again turned flat and are trading in a narrow range with Sensex and Nifty oscillating between negative and positive zone.
The Whole sale price index (WPI) for the month of May stood at -2.36% versus -2.65% in the previous month with food articles inflation quoting at 3.8% against 5.73% last month.
By 12:47, the Sensex was higher by 90 points at 26,516 and the Nifty gained 11 points at 7,994.
The top gainers on the Sensex are Sun Pharma, M&M, ONGC, Dr Reddy’s Labs and RIL. On the losing side, Tata Power, SBI, Hindalco, NTPC and Vedanta have dipped between 1-1.2%.
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Updated at 12:15
After registering losses of three straight weeks, markets are trading higher on the first trading session of the week despite weakness in the global peers on the back of favorable macroeconomic parameters.
The Whole sale price index (WPI) for the month of May stood at -2.36% versus -2.65% in the previous month with food articles inflation quoting at 3.8% against 5.73% last month.
The Whole sale price index (WPI) for the month of May stood at -2.36% versus -2.65% in the previous month with food articles inflation quoting at 3.8% against 5.73% last month.
By 12:47, the Sensex was higher by 90 points at 26,516 and the Nifty gained 11 points at 7,994.
The top gainers on the Sensex are Sun Pharma, M&M, ONGC, Dr Reddy’s Labs and RIL. On the losing side, Tata Power, SBI, Hindalco, NTPC and Vedanta have dipped between 1-1.2%.
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Updated at 12:15
After registering losses of three straight weeks, markets are trading higher on the first trading session of the week despite weakness in the global peers on the back of favorable macroeconomic parameters.
The Whole sale price index (WPI) for the month of May stood at -2.36% versus -2.65% in the previous month with food articles inflation quoting at 3.8% against 5.73% last month.
Meanwhile, Index of Industrial Production (IIP) increased by 4.1% in April, against a growth of 2.8% a year ago and 2.5% in March this year on the back of 5.1% growth in manufacturing and 11.1% expansion in capital goods.
At 12.15 AM, the Sensex was trading at 26,588 levels, up by 163 points while the Nifty held on to its 8,000 levels to trade at 8,016, up by 33 points.
Top gainers include Sun Pharma, ONGC, L&T, M&M and RIL up between 1-3.5%.
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(updated at 11.30 AM)Benchmark Indices continue to rally amid choppy trades aided by capital goods, auto and healthcare stocks. The Indian markets continue to outperform their Asian peers amid concerns of a possible Greek default.
At 11:30 AM, the Sensex was trading at 26,580 levels, up by 150 points or 0.5% while the Nifty held on to its 8,000 levels to trade at 8,015 , up by 32 points or 0.4%.
The broader markets are in line with their larger counterparts with BSE Midcap and Smallcap indices trading between 0.5-1% each.
Meanwhile, investors are watchful of the FOMC meeting, which is scheduled this week and will likely decide the timeframe for a Fed rate hike.
On the home front, a set of mixed bag macroeconomic data with CPI quoting at 5.01% and IIP numbers quoting at 4.1% are likely to dictate the trend on the bourses. Also, the progress of the monsoon will dictate the sentiment on the Dalal Street.
Further, the rupee was quoting at 64.12, declined by 6 paise due to sustained demand for the US currency from importers amid capital outflows.
SECTORS & STOCKS
On the sectoral front, BSE Capital Goods are rallying more than 1.3% , followed by BSE Healthcare, up nearly 1%.
Post the announcement of IIP data for the month of April 2015, which was released on Friday 12 June, after market hours, shares of Capital Goods companies are trading higher on the BSE. The IIP data, which consists of factory output rose to 4.1% in April, against a growth of 2.8% a year ago and 2.5% in March this year, better than estimated. This surge in the factory output is largely driven by manufacturing sector.
Shares of L&T and BHEL are trading between 0.6-1.9% on the Sensex.
TCS and Infosys remain in focus after the IT and Communications Minister Ravi Shankar Prasad said that the government will intervene if the need arises. The software giants are facing a probe in the US for an alleged visa rule violations. However, both the companies denied any wrongdoings and said that they are "fully compliant" with the immigration rules.
TCS is trading 0.1% lower while Infosys is 0.4 % up on the Sensex.
Shares of Mahindra & Mahindra are advancing over 2% on the Sensex after the automobile company announced that it would be launching a new light commercial vehicle named Jeeto by the end of this month to take on homegrown rival Tata's popular minitruck Ace Zip.
Coal India has advanced marginally on the Sensex, up by 0.1%. The company has become the sixth-largest mining company in the world in terms of market capital, says a recent PwC report.
Other notable gainers on the Sensex are Sun Pharma, Wipro, Reliance Industries, HDFC, and ONGC , all trading between 1.2- 2.6% each on the Sensex.
On the flip side, Vedanta has slipped around 0.6% on the Sensex. The company officially announced that it would merge Cairn India with itself for a larger natural resource play. Cairn India, however, has gained more than 2% on the Sensex.
Other losers on the Sensex are NTPC, SBI and Axis Bank , all down between 0.6-1.1% each on the Sensex.