At 9:20AM, the S&P BSE Sensex is trading at 27,606 up 21 points, while NSE Nifty is trading at 8,343 up 20 points.
The BSE Mid-cap Index and BSE Small-cap Index was trading up at 1%.
Auto, Consumer Durables, Power, banking, healthcare metal, realty, capital goods, FMCG, Oil and gas indices are the gainers, while IT, Teck indices are losers.
Crompton Greaves, Asian Paints, Hindalco, Indusind Bank, Idea Cellular, ABB are among the gainers, whereas Infosys, ONGC, Adani Power, Tata Motors are losing sheen on BSE.
The Index of Industrial Production (IIP) for November rose to a 5-month high of 3.8%. Higher food costs pushed the Consumer Price Index (CPI) inflation for December to 5%. But the street will heave a sigh of relief that it was much lesser than what was expected and well within the RBI’s target. The data also opens up speculation again on what the RBI will do as far as interest rates are concerned.
Public Sector Banks will remain in focus today besides the companies which will declare their results. These include Reliance Industrial Infrastructure Ltd, DCB Bank and IndusInd Bank among others. Stocks like HUL are seeing action on the options front. The outlook is a flat start.
Global cues are mixed. Oil prices fell to below $46-a-barrel for the first time in nearly six years following a further slash in forecasts by global brokerages. The Dow fell 0.54%, the S&P 500 dropped 0.81% and Nasdaq fell 0.84%. Asian markets are also mostly lower with Japan's Nikkei down 1.7%, Hong Kong's flat and China's Shanghai marginally higher.
Finance minister Arun Jaitley reportedly said the divestment programme would be pursued on priority and involve more than one PSU during this period. This move comes as the government is planning to sell 10% stake in Coal India to raise Rs 24,000 crore.
The government is expected to implement Goods and Services Tax (GST) across the country in the course of next year, Finance Minister Arun Jaitley said.
The government is planning a big sales pitch in the US for its Make in India initiative ahead of President Barack Obama's visit, according to reports. DIPP secretary Amitabh Kant will head the team travelling to the US for an outreach on Make in India in Washington to drive investments in smart cities, industrial corridors and defence manufacturing.
According to reports, Gujarat was promised investments worth Rs 10 lakh crore on Day One of the Vibrant Gujarat summit. Over 15,000 agreements were inked on the first day of the business conclave at Mahatma Mandir in Gujarat. - See more at: http://www.indiainfoline.com/article/news-top-story/nifty-above-8-300-levels-115011300022_1.html#sthash.LAHwrx4D.dpuf
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