 "Markets open flat; Broader markets outperform")
However, metal stocks are still reeling under pressure thus capping the upside.
At 10:35 AM, the Sensex was at 27,346, 18 points down while the Nifty opened at 8,263, 12 points down
The top 5 gainers on the Sensex are Tata Motors, TCS, NTPC, Lupin and Infosys, up between 1-2% each. The top 5 losers are Cipla, Hindalco, Vedanta, ONGC, RIL, down between 1-3%
----------------------------
(updated at 9:30 AM)
Markets have opened the session on a flat note following slightly positive close of Wall Street overnight and muted cues from the Asian peers.
At 9:30 AM, the Sensex was at 27,346, 18 points down while the Nifty opened at 8,263, 12 points down
The broader markets are, however, outperforming their larger peers with BSE Midcap and Smallcap indices up by 0.3% each. The market breadth is strong with 698 advances against 251 declines on the BSE.
Meanwhile, Standard & Poor’s (S&P) has retained India’s rating at ‘BBB-’ with stable outlook, the lowest investment grade for India thus dashing the government’s hope for a rating upgrade for at least for two years — this year and the next.
On the currency front, the rupee opened at 64.93, weakening by 13 paise against the US dollar.
RESULTS CORNER
ACC, Hero Moto, Bajaj Finance, Biocon, Mphasis and Jyoti Labs will unveil their second quarter earnings today.
GLOBAL MARKETS
Asian equities fell across the board on Tuesday after commodity prices languished in the wake of China growth woes and dampened risk sentiment, while the euro hovered near a 10-day low ahead of a European Central Bank meeting that could open the door for more monetary easing.
The Canadian dollar, already under pressure from sliding crude oil prices, faced extra headwinds as Canada's Liberal Party, was tipped to won Monday's general election which would pave the way for increased government spending.
MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.4%.
Shanghai shares dropped 0.4% and South Korea's Kospi dipped 0.1%. Japan's Nikkei bucked the trend and gained 0.3%.
Australian stocks lost 0.4% as worries about China weighed on mining and energy stocks following Monday's China GDP data.
SECTORS & STOCKS
Barring BSE Metal index, all other indices are in the positive zone.
Hero Motocorp will announce its Q2 results today. The stock has lost nearly 0.5%.
Reliance Industries led the rally yesterday post its better-than-expected Q2 numbers. The stock however has become prey to profit-booking as it has lost 0.7%.
ICICI Bank, India’s largest private sector lender, has outpaced its peers to record the highest number of mobile banking transactions. The stock is trading 0.2% down
Indian Oil Corporation (IOC), the nation’s largest fuel retailer, is busy executing a dozen-odd projects at an investment of around Rs 12,000 crore to expand its network of crude oil and products pipeline by 54 per cent to 17,000 km by 2019. The stock has gained nearly 1%
Tractor and utility vehicle market leader Mahindra & Mahindra (M&M) announced on Monday that it has forayed into pulses retailing under the brand ‘NuPro’ with a launch price of tur at Rs 210 a kg against the prevailing price range of Rs 180 and Rs 220 a kg. The stock has edged 0.3% lower.
Among notable gainers are Lupin, Tata Motors, TCS, Sun Pharma, BHEL, all up between 0.7-2% each
On the flip side, Cipla, Hindalco, ONGC, Bharti Airtel , Vedanta have slipped between 0.7-2.1% each.
The Congress government in Karnataka today decided allow manufacture and sale of Maggi noodles in the state as it decided to withhold the Centre's directive banning it, saying it lacked clarity. Nestle India has soared 1.5%
Among other shares, SKS Microfinance posted a 37.2 per cent increase in its net profit at Rs 77.86 crore for the second quarter ended September 30, 2015. The stock advanced over 2%
Hindustan Zinc Ltd (HZL) reported a 5 per cent growth in its net profit at Rs 2,285.26 crore for the quarter ended September 30, 2015 helped by volume growth and cost optimisation. The stock gained nearly 2%.
