 "Capital Goods underperform in a rangebound market; BHEL dips 2%")
Markets continue trade in the positive territory in the noon trades as domestic investors continue to lend support to the benchmarks amid volatility among the global peers ahead of the US Fed meet scheduled next week. However, the upside is capped as selling persists in Index heavyweights Tata Motors and RIL.
Meanwhile, FIIs continue to remain net sellers and sold Rs 121.19 worth of equities yesterday.
At 1 PM, the Sensex was higher by 42 points at 25,664 and the Nifty gained 42 points at 7,797 levels.
In the broader markets, BSE Midcap and Smallcap indices are up by 0.3% and 0.9%, respectively. The market breadth is positive with 1,496 advances versus 874 declines on the BSE.
RUPEE
The rupee is trading flat at 66.42 against the US dollar up by1 paise following bouts of selling of the US currency by some banks and exporters.
STOCK TRENDS
Barring BSE Metal index, all other indices are trading in green with BSE FMCG, IT, Realty and Consumer Durables indices trading higher between 0.4-1.4%.
Infosys has announced that it will increase the stipends of interns during the internship instead of increasing entrant salaries. The stock is up by 1%.
Financials are trading firm in today’s trade as positive marco-economc data and fall in the GDP data has created room for a rate cut by the RBI in the next monetary policy.
Capital Goods majors, BHEL and L&T are trading lower by 0.5% and 1.8% ahead of the IIP numbers due today.
Tata Motors continue to reel under pressure as the company’s sales of commercial vehicles in August declined by 2.79% to 29,683 units from 30,536 units in the previous year. However, Tata Motors reported a 1.51% increase in its global sales, including that of Jaguar Land Rover (JLR) vehicles, to 74,639 units last month.
FMCG majors ITC and HUL are up 0.5% each ahead of the CPI data scheduled to be released on Monday.
Godrej Consumer Products is up 2% after the company announced the acquistion of balance 40% stake in Chile-based Cosmetica Nacional.
Monsanto India has dipped 5.3% extending its 7% decline in past two trading days on the Bombay Stock Exchange (BSE).
Mahindra Lifespace Developers climbed 2% after the realty firm inked a pact to set up an industrial park near Chennai in collaboration with Japan's Sumitomo Corporation for an amount of Rs 400 crore.
