At 10:15 am (IST), the BSE Sensex was trading at 19523, up 136 points over the previous close. It had earlier touched a day's high of 19622 and a day's low of 19492. It opened at 19492.
The NSE Nifty was quoting at 5,934 up 30 points over the previous close. It earlier touched a day’s high of 5,932 and a day’s low of 5,932. It opened at 5,932.
The BSE Small-Cap index and BSE Mid- Cap index was trading at 0.53% and 0.65%.
Hindustan Unilever, Sterlite Inds, Dr. Reddys Lab, Sun Pharma, Tata Steel, Jindal Steel, ITC, Coal India are among gainers in Sensex and Nifty.
ONGC, Bharti Airtel, BHEL, HDFC Bank, L&T, Hindalco Inds, Mahindra & Mahindra, Hero MotoCorp, HDFC, Maruti Suzuki are among losers in Sensex and Nifty.
FMCG, Metal, Healthcare, Realty, Consumer Durables, TECK, PSU, IT, Bankex, Power indices are the gainers.
Oil & Gas, Auto, Capital Goods indices are the losers.
The Opposition could well take the blues away for the ruling UPA government today. Any stalling of Parliament will take a pause for a few hours to facilitate the passage of the Finance Bill in the Lok Sabha.
No debate is likely as the finance bill, along with the demands for grants, appropriations bill and railway budget will be passed in Lok Sabha. Reports indicate more sops are on the anvil to boost growth. Some clarity may emerge on the tax residency certificate issue that has caused a flutter among investors. Automobile stocks could be in focus as some benefits may be announced.
The outlook is a bright start for the day. The developments in Parliament could give a boost to the market. Further, sector-specific gains could also be witnessed especially in the FMCG sector after HUL positively surprised the street.
Meanwhile, Emerging Asia is particularly susceptible to the “middle-income trap”, given a high share of rapidly growing middle-income countries, the International Monetary Fund said in a report.
In the US, tech shares rallied pushing the Nasdaq to its highest level in 12 years. S&P 500 closed at a record high. Apple gained on expectations of an earlier launch of the iPhone 5S.
On the macro front, a report on pending US home sales was better than anticipated.
Asian stocks are higher. Japan’s Topix Index rose half a percent while the Nikkei is down 0.4%. South Korea’s Kospi Index is up 1%. Hong Kong’s Hang Seng Index gained a percent while China is shut today.
It is widely anticipated that the European Central Bank will cut its benchmark interest rate to a record low of 0.5% on Thursday. The FOMC policy review will get underway today where the Fed may renew its commitment to bond-buying.
FIIs have invested a mere Rs47.85bn in April against an average of over Rs160bn every month during the last eight months till March, says a report.
About 85 privately-owned companies, which are traded regularly, as well as 74 stocks that are comparatively illiquid are yet to meet the 25% norm set by the capital market regulator Sebi, says a report. Stocks worth close to Rs 15,400 crore will look for buyers in the next two months, an ET report stated.
India Infoline Research Team / 15:28, Mar 13, 2015
Markets are now reinforcing the perception of an early interest rate hike by US Federal Reserve, with consensus calling for the hike taking place in June, when compared with the prior expectations of a hike in September.