 "Energy shares rise amid consolidation")
Markets continue to remain lackluster on persistent selling by the investors taking cues from the weak global peers. Caution ahead of the expiry of November monthly contracts in the derivatives segment further hurt the mood on the D-Street.
Meanwhile, markets will remain closed tomorrow on account of ‘Guru Nanak Jayanthi’.
At 1 pm, the Sensex was higher by 40 points at 25,859 and the Nifty inched up by 8 points at 7,857.
On the sectoral front, BSE Capital Goods, Auto and IT indices are losing sheen and have slipped between 0.4-1%. However, BSE Oil & Gas and Realty indices are trading with strength and surged 1% each.
Among the big names, Maruti Suzuki emerged as the top loser down between 2.3% as the company is in the middle of a voting by minority shareholders for its upcoming Gujarat plant after claiming that it will have total control over the plant in spite of investments coming from parent company Suzuki. Among its peers Tata Motors and M&M dropped between 0.1-0.8%.
In the Oil & Gas segment, ONGC may go ahead with cluster two development of the KG filed, according to media reports. ONGC is up 2% and RIL is trading higher by 1.6%.
In the Oil & Gas segment, ONGC may go ahead with cluster two development of the KG filed, according to media reports. ONGC is up 2% and RIL is trading higher by 1.6%.
Luxury British carmaker Jaguar Land Rover (JLR) will post a lower pre-tax profit in 2015 than in the previous fiscal year, said its CEO, due to major investments and a blast at China's Tianjin port that destroyed thousands of its cars. Shares of Tata Motors have slumped almost 1%.
Pharma stocks are showing weakness in today’s trade with Sun Pharma down over 1% after it made payment of interest on and redemption amount pertaining to 5,000 secured rated redeemable non-convertible debentures (NCD) of the face value of Rs 10 lakh each aggregating to Rs 500 crore. Among its peers Dr Reddy’s Lab shed 0.3%.
Meanwhile, metal stocks are trading in the red with Hindalco and Vedanta down 0.4% as these companies will be taken out of the BSE Sensex effective from December 21. Also, decline in the commodity prices continue to cast a shadow on the metal stocks. Tata Steel dips 0.3%.
Some of the other bluechips which are in focus today include Infosys which announced that its product subsidiary, Infosys Finacle, has launched a new offering ‘Finacle as a managed service on Oracle Cloud'. However, the stock is trading down by 1.3%. A strong rupee has further dampened the sentiments. Wipro and TCS has shed 0.3%.
Some of the names from the financial space are hogging limelight after the government said that it has been proactive in responding to sectoral reforms and working towards a higher level of autonomy for bankers. HDFC, HDFC Bank and Axis Bank have gained between 0.5-3%.
