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Markets continue to trade higher tracking firm global cues and strong quarterly results posted by India’s biggest automobile manufacturer Tata Motors. In addition, easing of geopolitical tensions has boosted the sentiments of the market participants.
At 1.55 pm, the 30-share BSE index Sensex is trading up 169 points at 25,689 and the 50-share NSE index Nifty is trading 42 points higher at 7,668.
BSE Midcap and Smallcap indices are up by 0.1% and 0.2%, each.
The market breadth is neutral on the BSE. 1353 stocks have advanced while 1351 stocks have declined.
Global Markets
Asian shares nudged higher on Tuesday, tracking rallies in the United States and Europe as investors seemed to put aside geopolitical concerns, at least for the moment.
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.4% after jumping 1.5% on Monday. Japan's Topix rose 0.4%, while the Nikkei firmed 0.2%.
Australia's main index was one of the major gainers, jumping 1.3% in the wake of strong data on business activity and home prices.
Singapore's Straits Times Index ticked higher after the city-state reported annualised economic growth of 0.1% in the second quarter when analysts had expected a slight contraction. Strength in the financial sector helped offset sluggish manufacturing activity.
Back home, Data on key economic indicators to be released later today are likely to reaffirm that a nascent recovery is underway. Of the two economic indicators – the Index of Industrial Production (IIP) and Consumer Price Index (CPI)-based inflation – the IIP numbers will reveal whether both business and consumer sentiments are gaining momentum. In the CPI, or retail inflation, of particular interest is the direction of food inflation, in particular vegetable and fruit prices.
Meanwhile, Foreign portfolio investors (FPIs) sold shares worth a net Rs 162.92 crore on Monday, 11 August 2014, as per provisional data from the stock exchanges.
Rupee
The rupee is trading at 61.16/17 after closing at 61.19/20 on Monday.The pair had touched 61.74 on Friday, its highest since March 5. Asian currencies are trading mixed-to-positive versus the dollar.
Sectors & stocks
On the sectoral front, BSE Auto index is leading the rally, up 1.5% followed by Consumer duarbles, Healthcare and Oil and Gas indices. FMCG, IT and Teck indices are losing sheen on the BSE.
Tata Motors is the top gainer of the hour, up 5.6% on the back of robust quarterly results.
In oil and gas space, GAIL is up over 4% after posting strong quarterly numbers. Following the tandem, ONGC is up 2.5%.
Coal India, Sun Pharma and Tata Power have climbed nearly 2% ahead of the earnings results. However, BHEL is nearly 1% down on caution ahead of the earnings results.
HDFC twins and ICICI Bank are up between 0.5-3%. In contrast, Axis Bank is nearly 0.2% down.
M&M has slipped nearly 1% on profit booking.
On the flip side, Bharti Airtel, Hero Motors, ITC AND Hindalco are some of the notable names in red among others.
Among other shares, Shares of internet software and services provider - 8K Miles Software Services - have soared 17% to Rs 256, also its record high on National Stock Exchange (NSE) on back of heavy volumes.
Eicher Motors has surged 5% to Rs 8,990 on the BSE after reporting a more-than-double standalone net profit at Rs 133 crore for the quarter ended June 2014 (Q2), on back of strong sales. The manufacturer of Royal Enfield motorcycle had posted a profit of Rs 53 crore in the same quarter last fiscal.
