)
Markets opened on a positive note but turned flat thereafter this Tuesday on back of mild profit-booking after 4-straight trading gains.
Risk-appetite was on the positive side after robust China’s manufacturing data signalled hopes of growth recovery in world’s second-biggest economy.
At 9:20AM, the 30-share Sensex fell 15 points at 18,870 and the 50-share Nifty declined 14 points at 5,536 levels.
China’s economy is strengthening after a two-quarter slowdown, with a manufacturing gauge rising to a 16-month high in August.
Investors are now anxiously waiting for any fresh measures with Raghuram Rajan taking over the reins of RBI as the new governor on September 5.
The broader markets were firm with mid-caps and small-caps gaining 0.4 per cent on the BSE.
The market breadth was positive. Out of 410 stocks traded, 339 stocks advanced while 64 stocks declined on the BSE.
RUPEE
The rupee weakened marginally in early trade today. At 9:20AM, the partially convertible rupee was trading at 66.49 per dollar against the yesterday’s close of 66.02 against the dollar on the Interbank Foreign Exchange.
GLOBAL MARKETS
Asian stocks rose on evidence of pick up in global manufacturing. In the US, the Institute for Supply Management is expected to say factory output expanded a third month after gauges from the UK to China showed manufacturing is reviving..
Japan’s Nikkei rose 2.5% to 13,917, Singapore’s Straits Times was flat at 3,055, China’s Shanghai Composite index rose 0.7% at 2,113 while Hong Kong’s Hang Seng rose 1% to 22,394 today.
STOCK MOVERS
Domestically, all the key sectoral indices gained with bankex, metal, PSU, FMCG, capital goods sectors lead the gain on the BSE.
The gainers included counters such as HDFC Bank gaining 1.8%, Bharti Airtel rose 1.9%, Coal India rose 1.6%, ONGC was up 1.5% and Sun Pharma rose 1.4% on the BSE.
The laggards were Hero MotoCorp declined 2%, Tata Power declined 0.4%, Bajaj Auto shed 0.2%, Mahindra & Mahindra was down 0.2% on the BSE.
