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Markets have commenced the session on a flat note with positive bias following mixed global cues. Furthermore, markets will trade in a tight range as traders will roll over positions in the futures & options (F&O) segment from the near month February series to March series today.
The key event to watch out for today is the Railway Budget 2015-16 which will be tabled in the Parliament by the Rail Minister Suresh Prabhu.
At 9.45 AM, The Sensex is down 89 points at 28,919 whereas the Nifty has lost 26 points at 8,741.
Shares of Titagarh Wagons, Kalindee Rail Nirman and BEML are trading higher up to 1.3% ahead of the Railway Budget which will be presented later during the day. However, Texmaco and Kemex are down 3% each.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 516.06 crore yesterday, as per provisional data. Domestic institutional investors (DIIs) bought shares worth a net Rs 19.70 crore yesterday, as per provisional data.
GLOBAL MARKETS
US stocks saw mixed trend yesterday, 25 February 2015 as declines in Hewlett-Packard Co. and Apple Inc. offset gains among retailers amid corporate earnings.
Asian shares prices held near five-month highs on Thursday after upbeat US housing and Chinese factory data, while the dollar nursed modest losses following Federal Reserve Chair Janet Yellen's comments.
MSCI's broadest index of Asia-Pacific shares outside Japan stood little changed near the five-month high hit on Wednesday while Japan's Nikkei rose 0.2%.
MSCI's 46-country world index stood just below its double-top of its September peak and a record high hit in July.
KEY STOCKS:
On the sectoral front, BSE Healthcare index is the top loser down 0.5% followed by BSE IT, Teck indices trading lower up to 0.4%. However, BSE Metal and Oil & Gas indices are trading higher up to 0.2%.
Shares of Tata Power are trading lower by 2%. Tata Power has given its multi-year rates proposal to the state electricity regulator, proposing lower charges for residential, commercial and industrial users in this city.
Attorney Generals of Texas and California have separately sought information on pricing of some drugs sold by Dr Reddy's Laboratories in the US, according to the latest filing for the drug maker with Securities and Exchange Commission (SEC). The stock is down 1.2%.
Sun Pharmaceutical Industries’ executive director, Sudhir Valia, Valia has purchased shares worth Rs 73.5 crore in Greenply Industries. However, the stock has dipped nearly 1%.
An appreciating rupee has casted its shadow on the IT stocks. Infosys, TCS and Wipro are down between 0.1-1%.
Other major losers include Axis Bank, BHEL, Maruti Suzuki and Baja Auto down between 1-1.5%.
On the flip side, Bharti Airtel India's biggest mobile phone operator by users, is raising as much as $415 million through the sale of shares in mobile tower unit Bharti Infratel, according to media reports. The stock has climbed 1.3%.
Ratan Tata, former chairman of Tata Sons, has confirmed Jaguar Land Rover, luxury vehicle arm of Tata Motors, is looking for a factory site in North America. The stock has gained nearly 1%.
State-owned NTPC said its board has approved the investment proposal for 1,320 MW thermal power project in Madhya Pradesh. The stock is trading with marginal gains.
Other prominent gainers include Sesa Sterlite, HDFC, ONGC and ICICI Bank and are up between 0.5-1.5%.
In the broader market, both BSE Midcap and Smallcap indices are trading in line with the large counterparts and are down 0.3% each.
