Amid a small movement in a narrow range, the key benchmark indices were hovering a tad below the flat line in early afternoon trade. At 12:18 IST, the barometer index, the S&P BSE Sensex, was down 11.78 points or 0.05% at 25,807.56. The Nifty 50 index was down 3.60 points or 0.05% at 7,845.65.
The market breadth indicating the overall health of the market was positive. On BSE, 1,374 shares rose and 978 shares fell. A total of 179 shares were unchanged. The BSE Mid-Cap index was up 0.15%. The BSE Small-Cap index was up 0.39%. Both these indices outperformed the Sensex.
In overseas markets, Asian stocks were trading on a mixed note. US markets closed marginally lower yesterday, 23 November 2015 as Pfizer's plan to buy Allergan plc in a $160 billion deal quickly drew criticism from politicians as a tax dodge.
Index heavyweight and housing finance major HDFC advanced 1.86% to Rs 1,216. The stock hit high of Rs 1,219 and low of Rs 1,189.80 so far during the day.
Oil exploration stocks edged higher after global crude oil prices extended yesterday's gain.
ONGC (up 2.29%), Cairn India (up 1.6%), Oil India (up 0.06%) and Reliance Industries (RIL) (up 0.76%) gained.
In the global commodities markets, Brent for January 2016 settlement was currently up 27 cents at $45.10 a barrel. The contract had gained 17 cents or 0.37% to settle at $44.83 a barrel during the previous trading session. Higher crude oil prices would result in higher realizations from crude sales for oil exploration firms.
Capital goods stocks were mixed. L&T (down 1.23%), Siemens (down 1.19%), ABB India (down 0.06%) and Bharat Heavy Electricals (Bhel) (down 0.06%) fell. Crompton Greaves (up 0.34%), Thermax (up 0.82%), BEML (up 1.31%) and Bharat Electronics (up 1.18%) rose.
Tyre stocks rose. Apollo Tyres (up 1.52%), CEAT (up 1.43%), MRF (up 0.55%) and TVS Srichakra (up 1.56%) gained. Goodyear India (down 0.85%) and JK Tyre & Industries (down 0.41%) declined.
Lanco Infratech was locked at 20% upper circuit at Rs 6.39 after the company reported consolidated net profit of Rs 98.90 crore in Q2 September 2015 compared with net loss of Rs 508.80 crore in Q2 September 2014. The company's gross revenue before eliminations rose 96% to Rs 3493.40 crore in Q2 September 2015 over Q2 September 2014. Udupi has been removed from FY 2015 results to have better comparison, as Udupi was sold during current year, Lanco Infratech said. The result was announced after market hours yesterday, 23 November 2015.
Sanwaria Agro Oils was locked at 10% upper circuit at Rs 7.81 after the company said that its board of directors has decided to form a subsidiary company in Dubai. Sanwaria Agro Oils said the subsidiary in Dubai will cater to specific business needs for export and marketing of Basmati rice for Middle East market. Further, Iran, Iraq and African markets will also be catered through this subsidiary. The company made announcement after market hours yesterday, 23 November 2015.
Powered by Capital Market - Live News
