The BSE Mid-cap Index is trading up 1.50% at 10,428, whereas BSE Small-cap Index is trading up 0.89% at 10,875.
At 9:24 AM, the S&P BSE Sensex is trading at 27,210 up 333 points, while NSE Nifty is trading at 8,213 up 86 points.
The BSE Mid-cap Index is trading up 1.50% at 10,428, whereas BSE Small-cap Index is trading up 0.89% at 10,875.
Some buying activity is seen in auto, banking, pharma and fmcg and metal sectors, while metal sector is showing weakness on BSE.
GAIL, Hero Motocorp, HDFC, ICICI Bank and ONGC are among the gainers, whereas Jubilant Industries, Gujarat Gas, Sobha, Oil India and NTPC are losing sheen on BSE.
The rupee today opened at 64.19 as against the US dollar.
The earth shook again while the market had its own share of tremors as relentless selling seemed to be the order of the day on Tuesday. While quakes are being reported from Japan now, looks like the market will choose to settle down and perhaps lap up some gains.
Attention will be on stocks which are being added to the MSCI India index. These include Bharat Forge, Bharti Infratel, Container Corp of India, Eicher Motors, Lupin, Marico, Shree Cement and UPL. The sole deletion is Reliance Infrastructure, which could witness pressure today. The Nifty will attempt to get back above the 200 DMA. Results of Lupin and Emami will be watched. Second half of Parliament Budget session will end today and the developments here will be in focus.
The Indian rupee was under immense pressure, adversely impacted by the fragile equity markets. The sentiment is dented by foreign capital outflows from the equity and debt markets. Muted corporate earnings, uncertainty over retrospective taxation and better returns in other emerging markets has persuaded foreign investors to reduce their exposure to the Indian markets. Effectively, India’s ten year sovereign bond yields have spiked higher towards 7.95%.
On macroeconomic side, India's consumer price inflation eased to 4.87% in April, compared with 5.25% in March. There has been moderation in food prices in spite of a series of unseasonal rains in most parts of the nation. Meanwhile, India’s industrial output growth during March slowed to 2.1%, compared with a reading of 4.1% in February. Moderation in inflation and slowdown in growth provides the much needed maneuverability to the central bank to reduce interest rates at the key monetary policy meeting, scheduled on June 2nd.
Attention will be on stocks which are being added to the MSCI India index. These include Bharat Forge, Bharti Infratel, Container Corp of India, Eicher Motors, Lupin, Marico, Shree Cement and UPL. The sole deletion is Reliance Infrastructure, which could witness pressure today.
Global cues are lackluster. Dow fell marginally while S&P shed 0.3%. Nasdaq too was down around 0.3%.
Hedge funds were up 0.52% in April and 3.42% year-to-date helped by strong gains from emerging market mandated funds which gained 4.06% in April, their best performance since September 2010.
Asia ex-Japan hedge funds returned 6.81% in April, 11.87% year-to-date as Greater China mandated hedge funds gained 15.36% during the month, according to Eurekahedge.
The Rajya Sabha referred the GST Bill to a Select Committee, according to media reports. The Upper House has asked that the committee headed by BJP MP Bhupendra Yadav submit its report on the last day of the first week of the Monsoon Session.
The BSE Mid-cap Index is trading up 1.50% at 10,428, whereas BSE Small-cap Index is trading up 0.89% at 10,875.
Some buying activity is seen in auto, banking, pharma and fmcg and metal sectors, while metal sector is showing weakness on BSE.
GAIL, Hero Motocorp, HDFC, ICICI Bank and ONGC are among the gainers, whereas Jubilant Industries, Gujarat Gas, Sobha, Oil India and NTPC are losing sheen on BSE.
The rupee today opened at 64.19 as against the US dollar.
The earth shook again while the market had its own share of tremors as relentless selling seemed to be the order of the day on Tuesday. While quakes are being reported from Japan now, looks like the market will choose to settle down and perhaps lap up some gains.
Attention will be on stocks which are being added to the MSCI India index. These include Bharat Forge, Bharti Infratel, Container Corp of India, Eicher Motors, Lupin, Marico, Shree Cement and UPL. The sole deletion is Reliance Infrastructure, which could witness pressure today. The Nifty will attempt to get back above the 200 DMA. Results of Lupin and Emami will be watched. Second half of Parliament Budget session will end today and the developments here will be in focus.
The Indian rupee was under immense pressure, adversely impacted by the fragile equity markets. The sentiment is dented by foreign capital outflows from the equity and debt markets. Muted corporate earnings, uncertainty over retrospective taxation and better returns in other emerging markets has persuaded foreign investors to reduce their exposure to the Indian markets. Effectively, India’s ten year sovereign bond yields have spiked higher towards 7.95%.
On macroeconomic side, India's consumer price inflation eased to 4.87% in April, compared with 5.25% in March. There has been moderation in food prices in spite of a series of unseasonal rains in most parts of the nation. Meanwhile, India’s industrial output growth during March slowed to 2.1%, compared with a reading of 4.1% in February. Moderation in inflation and slowdown in growth provides the much needed maneuverability to the central bank to reduce interest rates at the key monetary policy meeting, scheduled on June 2nd.
Attention will be on stocks which are being added to the MSCI India index. These include Bharat Forge, Bharti Infratel, Container Corp of India, Eicher Motors, Lupin, Marico, Shree Cement and UPL. The sole deletion is Reliance Infrastructure, which could witness pressure today.
Global cues are lackluster. Dow fell marginally while S&P shed 0.3%. Nasdaq too was down around 0.3%.
Hedge funds were up 0.52% in April and 3.42% year-to-date helped by strong gains from emerging market mandated funds which gained 4.06% in April, their best performance since September 2010.
Asia ex-Japan hedge funds returned 6.81% in April, 11.87% year-to-date as Greater China mandated hedge funds gained 15.36% during the month, according to Eurekahedge.
The Rajya Sabha referred the GST Bill to a Select Committee, according to media reports. The Upper House has asked that the committee headed by BJP MP Bhupendra Yadav submit its report on the last day of the first week of the Monsoon Session.
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