Indian markets were witnessing lackluster trade during the mid-session with key indices moving in a narrow
range as investors stayed on the sidelines ahead of RBI’s monetary policy review tomorrow. Market believes that the central bank may again hike the repo rate by 25 basis points to contain the spiraling inflation. Consolidation may continue in the near term ahead of the October series expiry and PSU bank earnings numbers. Earlier markets opened higher, mirroring the positive trend in other Asian markets. Pharma stocks edged lower. Shares of power generation firm JSW Energy declined on weak Q2 result. Essar Oil edged higher after announcing Q2 results. Recently listed Just Dial rose on strong Q2 result. The market may remain volatile this week as traders roll over positions in the futures & options (F&O) segment from the near month October series to November 2013 series The Market breadth, indicating the overall strength of the market, was weak with advance/decline ratio at 920/1188 as of now on BSE. On stock specific front, HUL up by over 1.50% on BSE as the company's sales volumes in the September quarter grew 5 percent, in line with market estimates. On the other hand, ITC was trading lower by over 2.50% on BSE after reporting lower than expected revenue and net profit growth for the second quarter ended September 2013.
On the global front, Asian markets were trading in green with Shanghai Composite up by 0.16% and
Japanese index Nikki up by 2.19% as global risk appetite has improved amid hopes that the Federal Reserve will maintain its stimulus. DIPP has finalized the Cabinet note on relaxing norms for Foreign Direct Investment (FDI) in the construction sector including townships, housing and built-up infrastructure.
Among major stocks DABUR made 52 week high today while Bharat electric made 52 week low during
intraday trades today.
range as investors stayed on the sidelines ahead of RBI’s monetary policy review tomorrow. Market believes that the central bank may again hike the repo rate by 25 basis points to contain the spiraling inflation. Consolidation may continue in the near term ahead of the October series expiry and PSU bank earnings numbers. Earlier markets opened higher, mirroring the positive trend in other Asian markets. Pharma stocks edged lower. Shares of power generation firm JSW Energy declined on weak Q2 result. Essar Oil edged higher after announcing Q2 results. Recently listed Just Dial rose on strong Q2 result. The market may remain volatile this week as traders roll over positions in the futures & options (F&O) segment from the near month October series to November 2013 series The Market breadth, indicating the overall strength of the market, was weak with advance/decline ratio at 920/1188 as of now on BSE. On stock specific front, HUL up by over 1.50% on BSE as the company's sales volumes in the September quarter grew 5 percent, in line with market estimates. On the other hand, ITC was trading lower by over 2.50% on BSE after reporting lower than expected revenue and net profit growth for the second quarter ended September 2013.
On the global front, Asian markets were trading in green with Shanghai Composite up by 0.16% and
Japanese index Nikki up by 2.19% as global risk appetite has improved amid hopes that the Federal Reserve will maintain its stimulus. DIPP has finalized the Cabinet note on relaxing norms for Foreign Direct Investment (FDI) in the construction sector including townships, housing and built-up infrastructure.
Among major stocks DABUR made 52 week high today while Bharat electric made 52 week low during
intraday trades today.
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