Sensex, Nifty remain range bound; HUL & Maruti gain 1%

Moneycontrol Bureau1:55 pm FPI data: More than 1,000 new foreign portfolio investors (FPIs) have registered with capital markets regulator Sebi in April-July of 2016-17, a sign of their willingness to be part of India's growth story. This is over and above the nearly 2,900 additional FPIs who got approval from Sebi in 2015-16. The number of FPIs with Sebi approval increased to 5,322 at the end of July from 4,311 in March-end, translating into an addition of 1,011 such investors, latest data from Securities and Exchange Board of India (Sebi) showed.1:30 pm Interview: Even as global bond markets are in the midst of a raging rally and are considered by many as being in a bubble, an Indian bond market veteran thinks the local market stands on solid fundamental grounds. In an interview with CNBC-TV18, Amandeep Chopra, Group President & Head of Fixed Income, UTI MF, said the Indian bond market is well supported by macros as well stance of the Reserve Bank, such as its activities like open market operations (OMOs). Chopra told CNBC-TV18 that there appeared to be a change in the policy stance by the Reserve Bank of India (RBI) under the new dispensation, and so, there is every chance of one more rate cut by the end of this fiscal. This will be supported by decline in headline CPI in December, he said.

The market is still rangebound with the Nifty hovering around 8750. The 50-share index is down 15.90 points or 0.2 percent while the Sensex is down 56.93 points or 0.2 percent at 28277.62. Asian Paints, Tata Motors, SBI, HUL and Maruti are top gainers while ONGC, Axis Bank, M&M, Bajaj Auto and Hero MotoCorp are losers in the Sensex.

European stocks opened lower as markets digest hawkish comments from US Federal Reserve officials. European stocks started the trading day in lackluster fashion, similarly to Asia, where stocks traded mixed as investors reacted to the latest remarks from Fed officials indicating a forthcoming hike in interest rates.

On Tuesday, Richmond Fed President Jeffrey Lacker said there was a strong case for raising interest rates, while on Wednesday, in a speech in New Zealand, Chicago Fed President Charles Evans said he would be "fine" with hiking rates by year-end if the data remained supportive, Reuters reported.