Indian equity benchmarks were completely lacklustre in trade as ITC, Bharti, ICICI Bank and SBI were supporting the market whereas TCS, ONGC and auto stocks were under pressure.
Indian equity benchmarks were completely lacklustre in trade as ITC, Bharti, ICICI Bank and SBI were supporting the market whereas TCS, ONGC and auto stocks were under pressure. Index heavyweight Reliance Industries too was quite volatile in trade today after sources said the company warned government saying gas output at KG-D6 may stop by 2015.
Country's largest software services exporter Tata Consultancy Services tanked more than 2% while its rival Wipro gained over 1%.
Two-wheeler maker Bajaj Auto plunged nearly 3% ahead of first quarter numbers tomorrow. Commercial vehicle manufacturer Tata Motors and utility vehicle maker M&M were down 0.5-1% whereas Hero Motocorp and Maruti were flat.
State-owned oil & gas producer ONGC and power equipment manufacturer BHEL declined 0.5%-0.8%.
Among metals stocks, Sterlite Industries and Tata Steel fell over 0.6% whereas Jindal Steel and Hindalco gained 0.5-1%.
The 50-share NSE Nifty and 30-share BSE Sensex were trading with marginal gains following positive European cues. France's CAC, Germany's DAX and Britain's FTSE rose 0.2-0.5%. The Dow Jones futures gained 66 points ahead of Federal Reserve meet that scheduled for two days from today.
The BSE Sensex and NSE Nifty erased somewhat gains as the Indian rupee too trimmed gains. Asian markets too were trading off day's high - Shanghai, Nikkei, Straits Times, Kospi and Taiwan Weighted were up 0.3-0.6% while Hang Seng gained 1.6%.
The BSE Sensex gains 0.6 percent, while the 50-share Nifty advances 0.55 percent. Bargain-hunting after the indexes fell for the previous four consecutive sessions driving the gains.
Indian equity benchmarks continued to hold early gains due to buying interest in oil & gas, financials, FMCG, healthcare, power and metals stocks. The Indian rupee too appreciated by 49 paise to 54.81 against the US dollar.
ADS BY GOOGLE
video of the day
See 8000 Nifty by Dec, bullish energy, cap goods: Religare