)
Benchmark indices are swinging between the positive and negative territory as investors turn cautious ahead of the release of the CPI data tomorrow. Auto and Banking shares are witnessing an upsurge amid choppy trades.
Indian inflation is expected to slow to a record-low in October, dragged by sharp drops in food and oil prices intensifying calls for an interest rate cut by the Reserve Bank of India, according to Reuters.
At 1.15 PM, the Sensex has gained 11 points at 27,885 and the Nifty is up 4 points to trade at 8,347.
The broader markets are outperforming the benchmark indices- BSE Mid-cap and Small-cap indices have gained between 0.2-0.4%.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 355.30 crore yesterday, provisional data released by the stock exchanges showed.
Asian Markets:
Japanese and Chinese stock markets stood out against a mostly lacklustre backdrop in Asia on Tuesday, with a deal to give global investors easier access to China's $3.9 trillion stock market partially offsetting worries about declining oil prices.
Chinese shares continued to outperform and were at three-year highs. They added 1.3 percent on top of the previous session's 2.5% surge after officials announced on Monday that a Nov 17 would mark the beginning of a tie-up that will allow global investors to buy Chinese stocks from Hong Kong. Hang Seng is up 0.4%
MSCI's broadest index of Asia-Pacific shares outside Japan erased early losses and eked out a 0.1% gain. Japan's Nikkei stock average added 2%, extending gains as the yen turned lower in afternoon trade. However, Shanghai Composite and Straits Times indices are trading lower by 0.1%.
Sectors & Stocks:
On the sectoral front, BSE Auto is the top gaining index up over 0.4% followed by Bankex, Capital goods and Healthcare indices up 0.3%. However, BSE Consumer Durables and IT indices are losing sheen and are down over 0.5%.
In the Auto pack, M&M is the top gainer up 2.3% , Bajaj Auto, Hero Motocorp and Maruti Suzuki are trading with marginal gains
RIL and GAIL are up between 1-1.5% on the back of declining crude oil prices.
In the financial space, HDFC twins, Axis Bank and ICICI Bank are up between 0.1-1% on news of easing of CPI data due tomorrow.
Tata Steel, L&T and TCS are some of the notable names in green among others.
On the flip side, BHEL, Bharti Airtel, Infosys and ITC are down between 1-3% on the account of profit taking.
Metal shares are trading under pressure in today’s trade. Hindalco and Coal India are down between 0.3-0.7%.
SBI, ONGC, Wipro and Cipla are some of the prominent names in red down between 0.4-0.7%.
Among other shares, Ucal Fuel Systems extended gains and has surged 40% in two straight trading sessions. The stock has zoomed 20% to Rs 120, also its 52-week high on the BSE, after reporting over four-fold jump in net profit at Rs 8.40 crore for the second quarter ended September 30, 2014 (Q2), on back of strong operational performance.
Tasty Bite Eatables has declined around 4% to Rs 625 in an otherwise firm market after posting a 17% increase in its material costs during the July-September quarter of 2015 fiscal compared to the same quarter last fiscal. The total expense of the company increased by around 6% at Rs 4,247 crore in July-September quarter compared to Rs 3,804 crore in the same quarter last fiscal.
The market breadth is almost neutral on the BSE with 1,393 advances and 1,378 declines.
