Markets remained flat in noon trades on Thursday as gains in oil and gas shares helped offset losses in IT majors.
Markets remained flat in noon trades on Thursday as gains in oil and gas shares helped offset losses in IT majors.
At 12:50PM, the 30-share Sensex was up 21 points at 20,568 and the 50-share Nifty was up 1 point at 6,090.
The strengthening spree of the rupee continued in afternoon trades due to dollar sale by exporters. However, month-end dollar demand is approaching, which may keep the rupee under pressure.
At 12:30pm, the rupee was trading at Rs 61.57 compared with previous close of Rs 61.85 per dollar on Tuesday.
Asian were trading mixed after US lawmakers came to an agreement to raise the government's borrowing limit and avoid a potential debt default. The Nikkei was up 0.8% and Straits Times rose 0.7%. However, Shanghai COmposite and Hang Seng were marginally down.
BSE Oil and Gas index was the top gainer among the sectoral indices up 2% followed by FMCG and COnsumer Durables among others. BSE IT and Capital Goods indices were among the top losers.
Oil and Natural Gas Corporation rallied nearly 3% on reports that the state-owned oil exploration and production firm finds rich reserves of oil in KG Basin block.
Index heavyweight Reliance Ind was up 2.4% at Rs 888.
In the FMCG space, ITC was up 1.7% and Hindustan Unilever was up 1.3%.
IT majors TCS and Infosys were down on profit taking after recent gains post encouraging Q2 earnings.
Other Sensex losers include, Tata Motors, L&T, ICICI Bank and SBI.
Among other shares, Bajaj Corp has dipped over 9% to Rs 215, extending its past two day’s fall, after reporting a lower-than-expected net profit at Rs 36 crore for the second quarter ended September 30, 2013 (Q2) due to lower sales and higher spend on advertising and sales promotions. The company had profit of Rs 38 crore in a year ago quarter.
In the broader market the mid-cap index was up 0.6% and Small-cap index up 0.3%.
Market breadth was positive with 1,158 gainers and 949 losers on the BSE
At 12:50PM, the 30-share Sensex was up 21 points at 20,568 and the 50-share Nifty was up 1 point at 6,090.
The strengthening spree of the rupee continued in afternoon trades due to dollar sale by exporters. However, month-end dollar demand is approaching, which may keep the rupee under pressure.
At 12:30pm, the rupee was trading at Rs 61.57 compared with previous close of Rs 61.85 per dollar on Tuesday.
Asian were trading mixed after US lawmakers came to an agreement to raise the government's borrowing limit and avoid a potential debt default. The Nikkei was up 0.8% and Straits Times rose 0.7%. However, Shanghai COmposite and Hang Seng were marginally down.
BSE Oil and Gas index was the top gainer among the sectoral indices up 2% followed by FMCG and COnsumer Durables among others. BSE IT and Capital Goods indices were among the top losers.
Oil and Natural Gas Corporation rallied nearly 3% on reports that the state-owned oil exploration and production firm finds rich reserves of oil in KG Basin block.
Index heavyweight Reliance Ind was up 2.4% at Rs 888.
In the FMCG space, ITC was up 1.7% and Hindustan Unilever was up 1.3%.
IT majors TCS and Infosys were down on profit taking after recent gains post encouraging Q2 earnings.
Other Sensex losers include, Tata Motors, L&T, ICICI Bank and SBI.
Among other shares, Bajaj Corp has dipped over 9% to Rs 215, extending its past two day’s fall, after reporting a lower-than-expected net profit at Rs 36 crore for the second quarter ended September 30, 2013 (Q2) due to lower sales and higher spend on advertising and sales promotions. The company had profit of Rs 38 crore in a year ago quarter.
In the broader market the mid-cap index was up 0.6% and Small-cap index up 0.3%.
Market breadth was positive with 1,158 gainers and 949 losers on the BSE
No comments:
Post a Comment