Benchmark indices have recovered and are trading marginally higher amid volatility ahead of October derivatives expiry today.
Traders will roll over positions in the futures & options (F&O) segment from the near month to November series.
The data for two important indicators -- fiscal deficit and core sector -- for the month of September are likely to be released today.
At 12:50 PM the Sensex was up 49 points at 21,083 and the Nifty was up 12 points at 6,264.
According to Devangshu Datta, technical analyst, “Very narrow range trading is likely in the Nifty with support at 6,235- resistance at 6,270. There's a bullish bias so aggressive traders could consider carrying over long positions into the November series.”
On the global front, Asian markets suffered a glancing blow on Thursday after the U.S. Federal Reserve's latest policy outlook was deemed less dovish than some had wagered on, lifting both bond yields and the dollar.
The damage was mostly superficial with MSCI's index of Asia-Pacific shares outside Japan off just 0.6 percent. Shares in Shanghai lost 0.6 percent, while Australian markets held steady.
Sentiment was helped by the Bank of Japan's decision to stick with its massive stimulus program that has shown tentative signs of breaking the grip of deflation.
Back home, the rupee is trading at 61.43 versus its close of 61.2350/2450, hurt by broad gains in the dollar following the U.S. Federal Reserve's decision to keep its massive bond-buying stimulus in place.
Bank of India, Dr Reddy's Labs, IDFC, Sesa Sterlite, Titan Inds will unveil their second quarter earnings.
On the sectoral front, BSE Consumer Durables, Metal and Capital Goods indices have surged between 1-2%. However, Healthcare, FMCG, Realty and Power are trading marginally lower.
The main gainers on the Sensex at this hour include Wipro, Sesa Sterlite, Bharti Airtel, RIL, and Tata Motors have spurted between 1-2%.
On the losing side, ONGC, M&M, HUL, Dr Reddy’s Lab and Cipla have declined between 0.9-1.3%.
Bank of India (BOI) has surged 10% to Rs 190 after reporting more than 100% year on year (yoy) growth in net profit at Rs 622 crore for the quarter ended September 2013 (Q2) as bad loan falls. The state owned bank had posted profit of Rs 302 crore in year ago quarter.
The broader markets continue to outperform the benchmark indices- BSE Midcap and Smallcap indices have gained between 0.5-1%.
The market breadth in BSE turns negative with 1,062 shares declining and 1,058 shares advancing.
Traders will roll over positions in the futures & options (F&O) segment from the near month to November series.
The data for two important indicators -- fiscal deficit and core sector -- for the month of September are likely to be released today.
At 12:50 PM the Sensex was up 49 points at 21,083 and the Nifty was up 12 points at 6,264.
According to Devangshu Datta, technical analyst, “Very narrow range trading is likely in the Nifty with support at 6,235- resistance at 6,270. There's a bullish bias so aggressive traders could consider carrying over long positions into the November series.”
On the global front, Asian markets suffered a glancing blow on Thursday after the U.S. Federal Reserve's latest policy outlook was deemed less dovish than some had wagered on, lifting both bond yields and the dollar.
The damage was mostly superficial with MSCI's index of Asia-Pacific shares outside Japan off just 0.6 percent. Shares in Shanghai lost 0.6 percent, while Australian markets held steady.
Sentiment was helped by the Bank of Japan's decision to stick with its massive stimulus program that has shown tentative signs of breaking the grip of deflation.
Back home, the rupee is trading at 61.43 versus its close of 61.2350/2450, hurt by broad gains in the dollar following the U.S. Federal Reserve's decision to keep its massive bond-buying stimulus in place.
Bank of India, Dr Reddy's Labs, IDFC, Sesa Sterlite, Titan Inds will unveil their second quarter earnings.
On the sectoral front, BSE Consumer Durables, Metal and Capital Goods indices have surged between 1-2%. However, Healthcare, FMCG, Realty and Power are trading marginally lower.
The main gainers on the Sensex at this hour include Wipro, Sesa Sterlite, Bharti Airtel, RIL, and Tata Motors have spurted between 1-2%.
On the losing side, ONGC, M&M, HUL, Dr Reddy’s Lab and Cipla have declined between 0.9-1.3%.
Bank of India (BOI) has surged 10% to Rs 190 after reporting more than 100% year on year (yoy) growth in net profit at Rs 622 crore for the quarter ended September 2013 (Q2) as bad loan falls. The state owned bank had posted profit of Rs 302 crore in year ago quarter.
The broader markets continue to outperform the benchmark indices- BSE Midcap and Smallcap indices have gained between 0.5-1%.
The market breadth in BSE turns negative with 1,062 shares declining and 1,058 shares advancing.
No comments:
Post a Comment