The BSE Sensex and Nifty continued to trade on a lacklustre note in the late noon deals on Tuesday owing to selling in metal, oil & gas and banking stocks. Earlier in the day, the Sensex and Nifty traded in a narrow range. The Nifty touched high of 8,294 and the Sensex touched high of 27,432.
Here are the latest developments:
1) IT, auto, banking and capital goods stocks led the gains. TCS rose 1.5 per cent while Axis Bank, Tech Mahindra, HCL Tech and Bank of Baroda gained 1-1.5 per cent.
2) On the Nifty, apart from TCS, other Tata Group companies - Tata Power and Tata Motors - also attracted strong buying. Tata Motors and Tata Power rose over 3 per cent.
3) Metal and oil & gas stocks struggled, tracking selloff in global commodities. Cairn India, Vedanta, Hindalco and ONGC fell 1-2 per cent. Reliance Industries, which surged 5.6 per cent yesterday on strong Q2 earnings, was down 0.72 per cent on profit-taking. Drug maker Cipla was the top Nifty loser, down nearly 3 per cent.
5) Hero MotoCorp, which is set to report its earnings today, traded flat. ACC traded nearly 1 per cent lower ahead of its earnings announcement.
6) Hindustan Zinc, which reported better-than-expected earnings on Monday, gained 1 per cent. SKS Microfinance however pared early gains to trade flat, despite reporting strong earnings.
7) Analysts attributed the cautious mood in the Street to wariness after strong gains in the previous three sessions and a truncated week. Markets will remain closed on Thursday on account of Dussehra.
8) TS Harihar, chief executive and founder of HRBV Client Solutions, said that markets are likely to consolidate in the near term. The next trigger for the market is the outcome of the Bihar elections, he added. Analysts say that as long as 8,200 levels are held by the Nifty, the trend remains positive.
9) Foreign investors bought shares worth Rs 898 crore (net) in the cash market on Monday, taking their overall purchase to over Rs 3500 crore. "FIIs have come back to the Indian market after a gap of about two months as emerging markets have stabilized after absorbing the implication of slowdown in the economies," said Vinod Nair of Geojit BNP Paribas Financial Services.
10) Domestic investors continued to offload shares. On Monday, they sold shares worth Rs 246.26 crore (net) in the cash market. They have sold shares worth Rs 1,500 crore so far this month.
Here are the latest developments:
1) IT, auto, banking and capital goods stocks led the gains. TCS rose 1.5 per cent while Axis Bank, Tech Mahindra, HCL Tech and Bank of Baroda gained 1-1.5 per cent.
2) On the Nifty, apart from TCS, other Tata Group companies - Tata Power and Tata Motors - also attracted strong buying. Tata Motors and Tata Power rose over 3 per cent.
3) Metal and oil & gas stocks struggled, tracking selloff in global commodities. Cairn India, Vedanta, Hindalco and ONGC fell 1-2 per cent. Reliance Industries, which surged 5.6 per cent yesterday on strong Q2 earnings, was down 0.72 per cent on profit-taking. Drug maker Cipla was the top Nifty loser, down nearly 3 per cent.
5) Hero MotoCorp, which is set to report its earnings today, traded flat. ACC traded nearly 1 per cent lower ahead of its earnings announcement.
6) Hindustan Zinc, which reported better-than-expected earnings on Monday, gained 1 per cent. SKS Microfinance however pared early gains to trade flat, despite reporting strong earnings.
7) Analysts attributed the cautious mood in the Street to wariness after strong gains in the previous three sessions and a truncated week. Markets will remain closed on Thursday on account of Dussehra.
8) TS Harihar, chief executive and founder of HRBV Client Solutions, said that markets are likely to consolidate in the near term. The next trigger for the market is the outcome of the Bihar elections, he added. Analysts say that as long as 8,200 levels are held by the Nifty, the trend remains positive.
9) Foreign investors bought shares worth Rs 898 crore (net) in the cash market on Monday, taking their overall purchase to over Rs 3500 crore. "FIIs have come back to the Indian market after a gap of about two months as emerging markets have stabilized after absorbing the implication of slowdown in the economies," said Vinod Nair of Geojit BNP Paribas Financial Services.
10) Domestic investors continued to offload shares. On Monday, they sold shares worth Rs 246.26 crore (net) in the cash market. They have sold shares worth Rs 1,500 crore so far this month.
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