Sensex trading flat; Auto, Bankex major gainers
Some positive buying was observed in Auto, Bankex and Realty, while Oil & Gas, Consumer Durables, Power and Capital Goods were the major losers
BSE Mid-cap is 38 points up at 6,031, whereas BSE Small-cap is 18 points higher at 5,706.
Some positive buying was observed in Auto, Bankex and Realty on BSE, while Oil & Gas, Consumer Durables, Power and Capital Goods were the major losers due to profit- booking.
HDFC, M&M, Bajaj Auto, Tata Motors, Hero MotoCorp, ICICI Bank, Hindalco, Maruti Suzuki and Tata Power are up, whereas BHEL, RIL, Gail, ONGC, Tata Steel, Wipro, Dr Reddy's Lab and TCS are losing sheen.
Reliance Industries is weak too (1.7% down) on the back of April-June quarter earnings. On Friday after market hours, RIL report a third consecutive increase in quarterly profit, even as revenue from gas sales fell and output continued to decline.
RIL posted net profit of Rs. 53.52 billion for the quarter ended June 30, 2013 as compared to Rs. 45.03 billion for the quarter ended June 30, 2012.
Asian Paints, which is trading 0.82% down at Rs. 5,122, is set to announce its first quarter (April-June) results today.
Wockhardt sinks around 6% on the BSE as the pharma major said it has received a warning letter from US health regulator over its facility at Waluj in Maharashtra not meeting manufacturing norms.
The company had earlier in May announced that the US Food and Drug Administration had issued an import alert on its Waluj facility, which makes injectables and solid dosages.
Foreign institutional investors(FIIs) bought shares worth Rs. 2.52 billion, while domestic institutional investors were net sellers worth Rs. 2.29 billion on Friday as per the provisional data from the National Stock Exchange.
The partially convertible rupee is trading firm at 59.41 against dollar.
Nikkei is trading 10 points down at 14,579, while Hang Seng is trading 47 points down at 21,315.
The Reserve Bank of India (RBI) wants to curb unregulated non-banking financial services as part of the its efforts to head off situations in which depositors could lose their money.
The central bank has also allowed loans to new ultra mega power projects (UMPPs) to be regarded as secured debt even though the site and the plant will be owned by distribution utilities, not the winning bidder, according to a media report.
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India Infoline Research Team / 10:47, Aug 24, 2015
In spite of massive improvement in CV demand, standalone revenues for Banco Products Ltd registered muted performance with sales at Rs. 113cr in Q1 FY16.