Friday, 6 September 2013

Indices slip after a positive start

Some positive buying is seen in IT, teck, healthcare and capital goods sectors, while metal, realty, oil & gas and banking sectors are showing weakness

At 9:36 AM (IST), S&P BSE Sensex is 26 points down at 18,953, while 50-share Nifty is 18 points down at 5,554.

BSE Mid-cap is 2 points down at 5,417, whereas BSE Small-cap is 12 points up at 5,322.

Some positive buying is seen in IT, teck, healthcare, capital goods, consumer durables and FMCG sectors, while metal, realty, oil & gas, banking and auto sectors are showing weakness on BSE.

ICICI Bank, Dr Reddy's Lab, Wipro, Infosys, ONGC, TCS and Bharti Airtel are up on BSE, whereas Sesa Goa, HDFC Bank, Coal India, HDFC, Gail India, RIL and SBI are showing some weakness.

Reliance Industries (RIL) has hired 19 banks to arrange $1.75 billion of funding in US and Singapore dollars, euros and yen, according to a media report. RIL is 1.64% down on BSE.

Steel Authority of India (SAIL) has requested the Government to set up an institution to finance capacity expansion in the sector. The stock is 1.35% down on BSE.

Central Bank of India (CBOI) has raised interest rates on high value deposits by 50 basis points to 9.5%. The scrip is 0.47% higher.

Power Finance Corporation, which is 1.09% down on BSE, has started the process of bidding two ultra mega power projects by signing an agreement with states authorizing company to issue bid documents as approved by the government last week.

Fertilizer Corporation of India Ltd (FCIL) has signed an MoU with Coal India (CIL), GAIL India, and Rashtriya Chemicals & Fertilizers (RCF) for revival of Talcher Urea Plant in Odisha. CIL is 2.24% down, while RCF is 1.63% down on BSE.

Nikkei is trading 132 points down at 13,932, while Hang Seng is trading 68 points up at 22,666.

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