A range bound movement was witnessed as key benchmark indices languished in positive zone near the flat line in mid-morning trade. At 11:17 IST, the barometer index, the S&P BSE Sensex, was up 25.46 points or 0.1% at 24,511.41. The 50-unit Nifty 50 index was currently up 2.05 points or 0.03% at 7,438.20. The market breadth indicating the overall health of the market was positive. On BSE, 1,213 shares gained and 883 shares fell. A total of 141 shares were unchanged. The BSE Mid-Cap index was currently up 0.11%. The BSE Small-Cap index was currently up 0.49%. Both these indices outperformed the Sensex.
In overseas stock markets, Asian stocks edged higher after better-than-expected corporate earnings triggered rally in US stocks overnight. But Chinese stocks dropped, extending previous session's sharp slide, as investors worried that Beijing is stepping back from supporting its stock markets. In mainland China, the Shanghai Composite index was currently off 2.51%.
US stocks ended sharply higher yesterday, 26 January 2016, as energy stocks soared amid a rebound in oil prices. Meanwhile, the Federal Open Market Committee (FOMC) is widely expected to keep US interest rates unchanged after the conclusion of a two-day monetary policy meeting today, 27 January 2016.
Bank stocks declined. Among shares of public sector banks, Punjab National Bank (down 0.82%), Bank of Baroda (down 2.28%), Corporation Bank (down 1.14%), Bank of India (down 0.8%), and State Bank of India (SBI) (down 0.25%) edged lower. Union Bank of India (up 3.92%) and Canara Bank (up 1.11%) gained.
Among shares of private sector banks, Axis Bank (down 1.19%), HDFC Bank (down 0.14%), ICICI Bank (down 0.01%), Kotak Mahindra Bank (down 0.93%), Federal Bank (down 0.93%), Yes Bank (down 1.03%), and IndusInd Bank (down 0.42%) edged lower.
Capital goods stocks dropped. Bharat Heavy Electricals (Bhel) (down 2.34%), Havells India (down 1.08%), L&T (down 0.97%), Crompton Greaves (down 0.01%) and ABB India (down 0.02%) declined.
NBCC rose 3.34% after the company said it bagged an order worth Rs 2149 crore from India Trade Promotion Organization (ITPO), Department of Commerce, Government of India, for re-development of Pragati Maidan at New Delhi involving construction of Integrated Exhibition cum Convention Centre (IECC). The announcement was made during trading hours today, 27 January 2016.
Vardhman Textiles jumped 11.37% after consolidated net profit rose 73.22% to Rs 147.95 crore on 0.76% rise in net sales to Rs 1710.10 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours on Monday, 25 January 2016.
Vaibhav Global tumbled 4.8% after consolidated net profit fell 70.1% to Rs 11.61 crore on 10.24% decline in total income to Rs 356.18 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours on Monday, 25 January 2016.
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