The BSE Mid-cap Index is trading down 0.66% at 10,385, whereas BSE Small-cap Index is trading down 0.73% at 10,753.
At 9:26 AM, the S&P BSE Sensex is trading at 27,230 down 277 points, while NSE Nifty is trading at 8,248 down 77 points.
The BSE Mid-cap Index is trading down 0.66% at 10,385, whereas BSE Small-cap Index is trading down 0.73% at 10,753.
Coal India, HUL, Hero Motocorp, Dr, Reddy's Lab and GAIL are among the gainers, whereas Tata Motors, Vedanta, ICICI Bank, HDFC Bank and Bajaj auto are losing sheen on BSE.
The two-day rally notwithstanding, pressure could mount on the market as it gears up for more results and macro data. FIIs have sold shares worth Rs 11,500 crore since April 15. The fall in the market in recent weeks has led to over 180 stocks among the BSE 500 slipping (in dollar terms) below levels of May 2014 when Modi-led BJP government was elected. Some of these stocks include Reliance Industries, ITC, TCS, Tech Mahindra, Cairn, ONGC, Tata Steel, NTPC, NHPC, and most of the PSU banks, says an ET report attributing the fall to hopes of a speedy revival in the economy receding and corporate earnings growth struggling to pick up.
The indices may find it difficult to sustain the recent run-up. Results of Dr Reddy's, Apollo Tyres, Ashok Leyland, UCO Bank and Union Bank are on tap. Following the drop in NPAs announced by Bank of Baroda, investors will pay attention especially to the PSU bank pack. Macro data for the day include India IIP and CPI for combined, rural, and urban.
Global cues are subdued with Dow down 0.5%, Nasdaq lower by 0.2% and S&P losing 0.5%. Asian indices are also lower with Nikkei down 0.7% and Hang Seng trading 0.3% down. Shanghai index has bucked the trend and is up over half a percent.
The developments in Greece are being watched. Euro zone finance ministers welcomed progress in negotiations between Greece and its creditors as Greece has begun the transfer of money in debt interest to the International Monetary Fund. The move was carried out as eurozone finance ministers met in Brussels in a bid to unlock the final €7.2bn tranche of Greece's €240bn EU/IMF bailout. Ministers said Greece had made "progress" but more work was needed.
Robust US growth and stabilising financing conditions will help the global economy to grow more strongly next year after muted growth in 2015, says Moody's Investors Service in its quarterly Global Macro Outlook report. Divergence between the major economies is likely to widen.
Moody's expects G20 GDP growth of 2.8% in 2015, broadly unchanged from last year, before rising to around 3% in 2016. India is forecast to be the strongest performer among the G20 countries, with GDP growth of 7.5% in both 2015 and 2016. Cheaper oil and reforms designed to enhance growth are expected to support robust economic activity.
In China, domestic factors will mainly account for economic developments. Moody's maintains its forecast that GDP growth will slow to 6.8% in 2015
and 6.5% in 2016, from 7.4% last year. In Japan, Moody's forecasts growth of 0.5% this year and of 1% in 2016.
The Modi government introduced the Land Ordinance Bill in Lok Sabha, according to a report published on TV news-channel. The Opposition Parties in the lower house opposed the introduction of Land Bill in Lok Sabha, the report added. The Congress party in Lok Sabha highlighted that it won't support the Land Bill in current shape.
The Karnataka High Court on Monday acquitted former Tamil Nadu chief minister J Jayalalithaa and three other accused in a disproportionate assets case.
India's second largest software exporter Infosys is looking for its next chairman, following KV Kamath's appointment as chief of New Development Bank of the BRICS countries, accor ding to reports.
Car sales grew at their fastest pace in nearly three years in April at 18.14% to 159,548 units due to a dramatic shift in the market sentiment, Society of Indian Automobile Manufacturers (SIAM) said on Monday.
Commercial vehicle sales grew 6.48% to 45,872 units in April, but light commercial vehicle (LCV) sales were down 3.82% to 26,595 units.
The Indian IT infrastructure market will total $2.02 billion in 2015, a 3.3 percent increase from 2014, according to Gartner, Inc. The IT infrastructure market includes server, storage and networking equipment,
The BSE Mid-cap Index is trading down 0.66% at 10,385, whereas BSE Small-cap Index is trading down 0.73% at 10,753.
Coal India, HUL, Hero Motocorp, Dr, Reddy's Lab and GAIL are among the gainers, whereas Tata Motors, Vedanta, ICICI Bank, HDFC Bank and Bajaj auto are losing sheen on BSE.
The two-day rally notwithstanding, pressure could mount on the market as it gears up for more results and macro data. FIIs have sold shares worth Rs 11,500 crore since April 15. The fall in the market in recent weeks has led to over 180 stocks among the BSE 500 slipping (in dollar terms) below levels of May 2014 when Modi-led BJP government was elected. Some of these stocks include Reliance Industries, ITC, TCS, Tech Mahindra, Cairn, ONGC, Tata Steel, NTPC, NHPC, and most of the PSU banks, says an ET report attributing the fall to hopes of a speedy revival in the economy receding and corporate earnings growth struggling to pick up.
The indices may find it difficult to sustain the recent run-up. Results of Dr Reddy's, Apollo Tyres, Ashok Leyland, UCO Bank and Union Bank are on tap. Following the drop in NPAs announced by Bank of Baroda, investors will pay attention especially to the PSU bank pack. Macro data for the day include India IIP and CPI for combined, rural, and urban.
Global cues are subdued with Dow down 0.5%, Nasdaq lower by 0.2% and S&P losing 0.5%. Asian indices are also lower with Nikkei down 0.7% and Hang Seng trading 0.3% down. Shanghai index has bucked the trend and is up over half a percent.
The developments in Greece are being watched. Euro zone finance ministers welcomed progress in negotiations between Greece and its creditors as Greece has begun the transfer of money in debt interest to the International Monetary Fund. The move was carried out as eurozone finance ministers met in Brussels in a bid to unlock the final €7.2bn tranche of Greece's €240bn EU/IMF bailout. Ministers said Greece had made "progress" but more work was needed.
Robust US growth and stabilising financing conditions will help the global economy to grow more strongly next year after muted growth in 2015, says Moody's Investors Service in its quarterly Global Macro Outlook report. Divergence between the major economies is likely to widen.
Moody's expects G20 GDP growth of 2.8% in 2015, broadly unchanged from last year, before rising to around 3% in 2016. India is forecast to be the strongest performer among the G20 countries, with GDP growth of 7.5% in both 2015 and 2016. Cheaper oil and reforms designed to enhance growth are expected to support robust economic activity.
In China, domestic factors will mainly account for economic developments. Moody's maintains its forecast that GDP growth will slow to 6.8% in 2015
and 6.5% in 2016, from 7.4% last year. In Japan, Moody's forecasts growth of 0.5% this year and of 1% in 2016.
The Modi government introduced the Land Ordinance Bill in Lok Sabha, according to a report published on TV news-channel. The Opposition Parties in the lower house opposed the introduction of Land Bill in Lok Sabha, the report added. The Congress party in Lok Sabha highlighted that it won't support the Land Bill in current shape.
The Karnataka High Court on Monday acquitted former Tamil Nadu chief minister J Jayalalithaa and three other accused in a disproportionate assets case.
India's second largest software exporter Infosys is looking for its next chairman, following KV Kamath's appointment as chief of New Development Bank of the BRICS countries, accor ding to reports.
Car sales grew at their fastest pace in nearly three years in April at 18.14% to 159,548 units due to a dramatic shift in the market sentiment, Society of Indian Automobile Manufacturers (SIAM) said on Monday.
Commercial vehicle sales grew 6.48% to 45,872 units in April, but light commercial vehicle (LCV) sales were down 3.82% to 26,595 units.
The Indian IT infrastructure market will total $2.02 billion in 2015, a 3.3 percent increase from 2014, according to Gartner, Inc. The IT infrastructure market includes server, storage and networking equipment,
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