At 1:15pm (IST), the BSE Sensex was trading at 18590, up 13 points over the previous close. It had earlier touched a day's high of 18705 and a day's low of 18561. It opened at 18667.
The NSE Nifty was quoting at 5,652, up 4 points over the previous close. It earlier touched a day’s high of 5,684 and a day’s low of 5640. It opened at 5,681.
The BSE Small-Cap index was trading flat, while BSE Mid- Cap index was trading down 0.22%.
RIL, Infosys,Wipro, TCS, ICICI Bank, SBI, HDFC, Bajaj Auto, Sun Pharma, Coal India, L&T, Tata Power, Bharti Airtel, BHEL are among gainers in Sensex and Nifty.
HDFC Bank, NTPC, HUL, M&M are among losers in Sensex and Nifty.
Oil and Gas , HC, PSU, IT, Power, Consumer Durables, Teck, Bankex, Capital Goods, Metal, are the gainers.
Realty, Metal and Oil and Gas indices are the losers.
The market has turned a tad volatile lately with the main indices witnessing zig-zag movements – on a daily as well as intraday basis. The churning is likely to continue for a while as market participants analyse corporate results. What is comforting is that the overall prospects for Indian equities have improved slightly in the wake of the series of economic reform measures announced by the Government in the past few weeks.
FII inflows have continued unabated although they might just taper off as the year-end approaches. But, considerable challenges prevail on the macro front, with inflation refusing to cool materially and industrial growth tepid. The fiscal health of the Government too continues to be a source of trepidation and a major factor behind the RBI’s reluctance to cut borrowing costs.
The start today was encouraging mainly on account of positive overseas cues. Asian markets are buoyant following the overnight rally on Wall Street. Dow notched its first triple-digit gain since Fed announced "QE3."
European indices too galloped on speculation that Spain was a step closer to requesting a bailout. Spanish index was up over 3%. Moody’s has retained Spain’s investment grade debt rating but the outlook is negative.
Indian indices witnessed selling pressure on Tuesday, with the Nifty failing to cross the resistance of 5725 in early trade and moved below 5680. An appearance of ‘falling three methods’ like pattern on candlestick is giving negative signals and a move below 5630 could aggravate selling pressure. The positive trend is likely to prevail only above 5680 levels.
Key Results Today: Agro Tech Foods, Blue Star Infotech, BPL, CRISIL, Gallantt Ispat, HCL Tech, Indo Rama Synthetics, Karnataka Bank, Kokuyo Camlin and Rallis India.
Trend in FII flows: The FIIs were net sellers of Rs 2.04bn in the cash segment on Tuesday while the domestic institutional investors (DIIs) were net buyers of Rs 5.95bn, as per the provisional figures released by the NSE.
The FIIs were net buyers of Rs 4.73bn in the F&O segment on Tuesday, according to the provisional NSE data.
The foreign funds were net buyers of Rs 1.66bn in the cash segment on Monday, according to the SEBI figures.
Global Data Watch today: Australia Westpac Leading Index (Aug), US Presidential Debate, Japan Machine Tool Orders (Sep), UK BoE Minutes, UK ILO Unemployment Rate (3M) (Jul), UK Average Earnings (Oct), UK Claimant Count Change (Sep), UK Claimant Count Rate (Sep), EU Construction Output (Aug), US MBA Mortgage Applications (Oct 12), US Housing Starts (Sep), US Building Permits (Sep).
Headlines to Ponder:
The second presidential debate between Barack Obama and Mitt Romney is due today at the Hofstra University.
The Government will have to secure the nod of two-thirds of landowners to acquire a patch of land for private/PPP projects while acquisition in tribal areas would be possible only with the approval of local institutions of self-governance.
The Supreme Court on Tuesday lifted its interim ban on tourism in core areas of tiger reserves which had stopped entry of visitors to popular destinations.
Pakistan is reportedly willing to consider importing diesel and jet fuel from India if offered the "right price".
The Government has decided to abolish airport development fee (ADF) at the two airports from January 1.
The Reserve Bank of India (RBI) is reportedly working with the Government to set aside funds for buying illiquid gilts from the market.
Maruti Suzuki on Tuesday triggered a price war in the entry-level small car segment with the launch of the new Alto 800, priced lower than the base variant of the outgoing model.
Diageo Plc is reportedly in talks to buy a stake of ~20% in Vijay Mallya's United Spirits Ltd. in a deal that would give it management control of the Indian distiller.
Kingfisher Airlines management has called a meeting with their representatives on Wednesday to resolve the 16-day impasse over a lockout and strike by its workers.