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After inching up in early trades on Tuesday, market is now trading in a range as market participants sit on the sidelines ahead of key macro-economic data lined up later in the day. Retail inflation and industrial production data for the month of September and October respectively, will be released post market hours.
CPI (consumer price inflation) is expected to touch double digit levels for the month of Septmeber versus the three-month high of 9.85 percent witnessed a month earlier.
After a high jump in the core sector numbers for September, the Index of Industrial Production (IIP) data to be released today will be eagerly tracked.
The eight infrastructure sectors, also known as the core sectors, grew by a year-high of 8% in September against 3.7% in the previous month. The core sector roughly contributes 38% to the IIP and experts said there could be some impact felt in the overall industrial output.
According to a Reuters poll of 24 economists, the industrial output expanded by 3.5% -- a rate which is the fastest this year.
However, Moody's Analytics project a rise in industrial output by 2% in September.
Yesterday India's trade deficit numbers were announced; last month's deficit stood at $10.56 billion, compared with $6.7 billion in September, the trade ministry said. However market senitment today was also boosted as India's merchandise exports in October soared to $27.27 billion from $24.03 billion in the same month last year - an increase of 13.47 per cent, the highest since 23.7 per cent seen in October 2011.
Market continues to trade sideways as benchmark indices fail to breach crucial levels as investors wait for a direction ahead of inflation and IIP numbers.
At 10.37 am the 30-Share BSE Sensex was trading at 20,540 up 49 points while CNX NIFTY is at 6,097 up over 18 points.
In Asia, Japan's Nikkei extended gains and was trading 1.6% higher on Tuesday amid a weaker yen on better-than-expected US jobs report. The Shanghai Composite was up 0.2% while Straits Times and Hang Seng were down 0.1-0.6% each.
At 9:30am the rupee slipped to 63.50-a-dollar vs previous close of 63.24.
US benchmark share indices ended flat with a positive bias on Monday with the DOw Jones closing at a record high after better-than-expected US jobs data last week raised the possibility that the US Fed may start reducing its monetary stimulus measures sooner than expected.
The Dow Jones industrial average gained 21.32 points, or 0.1%, to end at 15,783.10. The Standard & Poor's 500 Index closed 1.28 points higher, or 0.1% higher, at 1,771.89. The Nasdaq Composite Index gained 0.56 points or 0.01% to end at 3,919.79.
Asian shares slipped on Tuesday, on track for a fourth straight day of losses, with investors turning their attention to the Chinese Communist Party policy meeting for clues to its economic agenda for the next decade.
The dollar rallied against the yen for a third straight day after a surprise rise in US October jobs growth on Friday, which has raised the prospect of the Federal Reserve reducing its stimulus drive sooner than thought. The dollar also kept pressure on emerging Asian currencies.
MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.1%. It was heading for an eighth day of decline out of nine sessions.
Hong Kong's bourse dropped 0.8% in light trade, weighed by the banking sector after data showed China's new bank lending hit a 10-month low last month, adding to evidence the central bank may be tightening its monetary stance.
But Tokyo's Nikkei share average, helped by the softer yen, climbed 1.7% after touching a three-week high, while Seoul shares gained 1%.
Bach home, Hindalco is the biggest Sensex gainer while Tata Motors is the biggest loser
Metals stock are down as the BSE sectoral index down nearly 1 percent; SAIL, Sesa Sterlite fall more than 2 percent
Ashok Leyland tanked more than 3 percent, Tata Motors is down 1.8 percent and are the top losers in the BSE auto index which is among the worst sectoral performers this morning
Jubilant Foodworks is up 2.8 percent while Tata Global Beverages up 1.7 percent, ITC added 0.7 percent
CPI (consumer price inflation) is expected to touch double digit levels for the month of Septmeber versus the three-month high of 9.85 percent witnessed a month earlier.
After a high jump in the core sector numbers for September, the Index of Industrial Production (IIP) data to be released today will be eagerly tracked.
The eight infrastructure sectors, also known as the core sectors, grew by a year-high of 8% in September against 3.7% in the previous month. The core sector roughly contributes 38% to the IIP and experts said there could be some impact felt in the overall industrial output.
According to a Reuters poll of 24 economists, the industrial output expanded by 3.5% -- a rate which is the fastest this year.
However, Moody's Analytics project a rise in industrial output by 2% in September.
Yesterday India's trade deficit numbers were announced; last month's deficit stood at $10.56 billion, compared with $6.7 billion in September, the trade ministry said. However market senitment today was also boosted as India's merchandise exports in October soared to $27.27 billion from $24.03 billion in the same month last year - an increase of 13.47 per cent, the highest since 23.7 per cent seen in October 2011.
Market continues to trade sideways as benchmark indices fail to breach crucial levels as investors wait for a direction ahead of inflation and IIP numbers.
At 10.37 am the 30-Share BSE Sensex was trading at 20,540 up 49 points while CNX NIFTY is at 6,097 up over 18 points.
In Asia, Japan's Nikkei extended gains and was trading 1.6% higher on Tuesday amid a weaker yen on better-than-expected US jobs report. The Shanghai Composite was up 0.2% while Straits Times and Hang Seng were down 0.1-0.6% each.
At 9:30am the rupee slipped to 63.50-a-dollar vs previous close of 63.24.
US benchmark share indices ended flat with a positive bias on Monday with the DOw Jones closing at a record high after better-than-expected US jobs data last week raised the possibility that the US Fed may start reducing its monetary stimulus measures sooner than expected.
The Dow Jones industrial average gained 21.32 points, or 0.1%, to end at 15,783.10. The Standard & Poor's 500 Index closed 1.28 points higher, or 0.1% higher, at 1,771.89. The Nasdaq Composite Index gained 0.56 points or 0.01% to end at 3,919.79.
Asian shares slipped on Tuesday, on track for a fourth straight day of losses, with investors turning their attention to the Chinese Communist Party policy meeting for clues to its economic agenda for the next decade.
The dollar rallied against the yen for a third straight day after a surprise rise in US October jobs growth on Friday, which has raised the prospect of the Federal Reserve reducing its stimulus drive sooner than thought. The dollar also kept pressure on emerging Asian currencies.
MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.1%. It was heading for an eighth day of decline out of nine sessions.
Hong Kong's bourse dropped 0.8% in light trade, weighed by the banking sector after data showed China's new bank lending hit a 10-month low last month, adding to evidence the central bank may be tightening its monetary stance.
But Tokyo's Nikkei share average, helped by the softer yen, climbed 1.7% after touching a three-week high, while Seoul shares gained 1%.
Bach home, Hindalco is the biggest Sensex gainer while Tata Motors is the biggest loser
Metals stock are down as the BSE sectoral index down nearly 1 percent; SAIL, Sesa Sterlite fall more than 2 percent
Ashok Leyland tanked more than 3 percent, Tata Motors is down 1.8 percent and are the top losers in the BSE auto index which is among the worst sectoral performers this morning
Jubilant Foodworks is up 2.8 percent while Tata Global Beverages up 1.7 percent, ITC added 0.7 percent
