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After a robust opening, markets have slipped in the negative territory and are trading range bound with a negative bias weighed down by metal and power shares.
At 10.25 AM, the 30-share Sensex is trading at 26,067 levels down by 33 points and the 50-share Nifty is quoting at 7,773 levels down by 14 points.
The BSE Midcap index is following the tandem and has lost 0.4%, whereas BSE Smallcap is down by 0.7%.
Sun Pharma , Cipla, HDFC and GAIL are some of the notable gainers, up between 1-3%. In contrast, Sesa Sterlite, M&M, Coal India and Maruti suzuki are some of the distinguished losers and have lost between 1-2.5%.
The market breadth is weak on the BSE with 1,409 declines and 868 advances.
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( updated at 10.30 AM )
Markets have erased its momentary gains and are trading in red as investors turn cautious and book profits.
At 10.25 AM, the 30-share Sensex is trading at 26,067 levels down by 33 points and the 50-share Nifty is quoting at 7,773 levels down by 14 points.
The BSE Midcap index is following the tandem and has lost 0.4%, whereas BSE Smallcap is down by 0.7%.
Sun Pharma , Cipla, HDFC and GAIL are some of the notable gainers, up between 1-3%. In contrast, Sesa Sterlite, M&M, Coal India and Maruti suzuki are some of the distinguished losers and have lost between 1-2.5%.
The market breadth is weak on the BSE with 1,409 declines and 868 advances.
__________________________________________
( updated at 10.30 AM )
Markets have erased its momentary gains and are trading in red as investors turn cautious and book profits.
At 9.45 AM, The Sensex is trading at 26,065 levels down by 35 points and Nifty is quoting at 7,772 levels down by 15 points.
Meanwhile, Foreign portfolio investors (FPIs) bought shares worth a net Rs 198.57 crore on Monday, 7 July 2014, as per provisional data from the stock exchanges.
Global Markets
US stocks dipped on Monday, retreating from last week's record levels as investors hesitated to make big bets before the start of earnings season.
Cyclical stocks, which are tied to the pace of economic growth, ranked among the weakest of the day. The S&P industrial sector index fell 0.7%.
Asian stocks were subdued on Tuesday as Wall Street turned cautious ahead of the corporate reporting season and as earnings guidance from regional tech heavyweight Samsung came in well short of forecasts. Investors could also be forgiven for feeling a touch of altitude sickness after many indices recently hit all-time or multi-year peaks.
MSCI's broadest index of Asia-Pacific shares outside Japan eked out marginal gains to reach a fresh three-year high at 502.00, but faced tough resistance at the 2011 top of 512.12.
Sectors & Stocks
On the sectoral front, BSE Healthcare index is leading the rally followed by Consumer Durables and Oil and Gas indices. On the other hand, BSE IT is the top losing index followed by Power and Realty indices.
Shares of railway related companies are in focus and trading higher by up to 4% in early morning deals on the Bombay Stock Exchange (BSE) ahead of Railway Budget today.
Among Pharma shares, Sun Pharma is up by 3% and Cipla has gained 0.7%
In the metal pocket, Sesa Sterlite and Hindalco are up between 0.3-1.2% on renewed buying.
Oil and Gas shares which were dwindling under pressure yesterday have gained during the morning trades. Oil and Gas major Reliance is up by 0.6%. GAIL has added 1%
Some fresh buying is visible in the Capital goods and Banking space with L&T and BHEL up by 0.2%. In addition, HDFC twins, ICICI Bank and SBI are up between 0.3-1.3%
On the flip side, Technology shares which zoomed yesterday are trading in red. Wipro, TCS and Infosys are down between 0.3-0.8% on profit taking
Among individual names, ONGC, Tata Power and Axis Bank have lost between 0.05-0.5%
The Smallcap index is trading in line with the large counterparts and is up by 0.2% and the Midcap index is meagerly up by 0.09%
The market breadth is negative on the BSE with 1,118 declines and 780 advances.
