Sensex Trades In Narrow Range; FMCG Shares Gain, IT Stocks Slip


12:13 p.m.: Aditya Birla Nuvo shares rallied over 6 per cent on Tuesday after the company announced the formation of a step-down subsidiary for entering into health insurance business.

Aditya Birla Nuvo is part of the Aditya Birla Group.(Read)

12:02 p.m.: FMCG shares gain after news agency Reuters on Friday said that monsoon rains were likely to end later than usual this year. Good monsoon rains help in boosting sales of FMCG products in rural areas. The BSE FMCG index jumped 1 per cent; ITC, Hindustan Uniliver, Britannia Industries, Nestle India, United Spirits, GCPL and Tata Global Beverages were among the gainers.

11:34 a.m.: Shares of Siemens jumped as much as 3 per cent to hit intraday high of Rs 1,292 after the engineering firm announced that it has secured order worth Rs 570 crore from Power Grid.

Siemens in a statement issued to the Bombay Stock Exchange said that it has bagged Rs 570 crore orders from Power Grid to supply one of the world’s largest static synchronous compensator (STATCOM) solutions.(Read)

11:26 a.m.: Idea Cellular was the top Nifty gainer, the stock jumped 3.75 per cent to hit intraday high of Rs 104.10. Hindustan Uniliver, Lupin, Bharti Infratel, Bharti Airtel, Larsen & Toubro, Bosch and Bank of Baroda were also among the gainers, up 1-2 per cent each.

11:06 a.m.: Select banking stocks were witnessing buying interest. The Nifty Bank index was up 0.13 per cent or 23 points at 17,538; Bank of India, Bank of Baroda, HDFC Bank, Kotak Mahindra Bank, Federal Bank, IndusInd Bank and Canara Bank were among the prominent gainers.

10:58 a.m.: Capital goods stocks were witnessing buying interest. The BSE Capital Goods index was up nearly 1 per cent; Praj Industries was the top gainer from this space, up 3.36 per cent to Rs 86.15. Siemens, Suzlon Energy, Thermax, VA Tech Wabag, Reliance Defence, Larsen & Toubro and Alstom T&D were also among the gainers.

10:43 a.m.: Market breadth was positive as 1,410 stocks were advancing while 599 were declining.

10:15 a.m.: Tata Communications shares soared over 7 per cent on Tuesday after the telecom company said that it has entered into an agreement with Liquid Telecom to sell its South African subsidiary Neotel for around Rs 2,900 crore.

“Liquid Telecom, a privately owned, pan-African telecoms group, majority owned by Econet Wireless Global, announces that it has entered into an agreement to acquire South African communications network operator Neotel,” Tata Communications said in a release to Bombay Stock Exchange.(Read)

9:45 a.m.: Stock markets rise on the back of buying in heavyweight stocks like Larsen & Toubro, HDFC Bank, ITC and Bharti Airtel. Sensex advances 66 points to 26,469 and Nifty jumps 22 points to 8,117.

9:37 a.m.: Ashish Chaturmohta, vice president (head of derivatives & technicals) at Sanctum Wealth Management, says investors should avoid Ashok Leyland as it is trading close to its resistance level of Rs 100. He adds that investors should rather look at buying cement stocks like ACC and UltraTech Cement for upside of 7-8 per cent from current levels.

9:30 a.m.: Sensex and Nifty opened marginally higher in trades today tracking subdued Asian markets.

As of 9:18 a.m., the Sensex traded 26 points higher at 26,429 and Nifty advanced 11 points to 8,106.

Other Asian markets were trading on a subdued note with Hong Kong’s Hang Seng falling nearly 1 per cent and China’s Shanghai Composite slipping 0.04 per cent.

MSCI’s broadest index of Asia-Pacific shares outside Japan slumped 0.3 percent, after Wall Street marked its worst two-day drop in about 10 months.

Overnight, Wall Street tumbled again on Monday after Britain’s shock vote to leave the European Union, sending major U.S. stock indexes to their worst two-day swoon in about 10 months.

All three main indexes fell at least 1.5 per cent in the wake of Thursday’s referendum that has roiled global markets and led investors to seek safe-haven assets.

The Dow Jones industrial average fell 260.51 points, or 1.5 percent, to 17,140.24, the S&P 500 lost 36.87 points, or 1.81 percent, to 2,000.54 and the Nasdaq Composite dropped 113.54 points, or 2.41 percent, to 4,594.44.

Back home, foreign institutional investors sold shares worth Rs 146 crore and domestic institutional investors sold shares worth Rs 147 crore on Monday.

In opening deals, select IT stocks were witnessing selling pressure while buying was seen in select oil & gas, banking, capital goods and pharma stocks.

From Nifty basket of stocks, 40 were declining while 11 were advancing.

Idea Cellular was top Nifty gainer, up 2.14 per cent to Rs 102.50. Bharti Infratel, Aurobindo Pharma, BPCL, Bharti Airtel, HUL, Lupin, Maruti Suzuki and Axis Bank were also among the gainers.

On the other hand, Tata Motors, Tata Steel, Wipro, Infosys, ICICI Bank, TCS, Cipla, HCL Technologies and Tech Mahindra were among the prominent laggards in Nifty.

The broader markets were outperforming the benchmark indices with BSE small-cap and mid-cap indices advancing 0.5 and 0.6 per cent each respectively.

9:05 a.m.: Indian stock markets are likely to open on a flat note with Nifty futures on the Singapore exchange trading marginally higher at 8,085.

Rupee opens higher at 67.77/dollar against Monday’s close of 67.95