The BSE Mid-cap Index is trading up 0.18% at 10,975, whereas BSE Small-cap Index is trading up 0.28% at 11,381.
Some buying activity is seen in capital goods, consumer durables, pharma, power, auto and realty sectors, while IT, metal and banking sectors are showing weakness on BSE.
BHEL, L&T, SBI, ITC, Bajaj-Auto, Bharti Airtel and Maruti are among the gainers, whereas Hindalco, Vedanta, Infosys, ONGC, Tata Steel and Tata Motors are losing sheen on BSE.
TCS stock will be in focus as it announces its results. The market may remain choppy on account of earning and economic data, both domestically as well as globally. Rupee could remain higher on expectations of foreign investor inflows in government bonds and stock market. Over the previous 10 trading sessions, IVs across the globe have seen significant reduction as stability returned in the global market (CBOE Volatility index and India VIX are down 37/9% during the same period). Sectors like FMCG, Pharma, Private Banks and IT are showing signs of tiredness at higher levels.
Profit booking was seen in Asian markets which have come lower following a crash in oil prices. US indices ended with minimal gains. Reports that OPEC continues to boost crude production despite a persistent glut fuelled weakness in oil. The Dow was up 0.28%, S&P 500 gained 0.13% and the Nasdaq added 0.17%.
Indian companies have raised Rs.4,950 crore through the initial public offerings (IPO) in the first half of the current fiscal year, according to Prime Database. In the first half of FY15, domestic companies had raised Rs. 1,017 crore through IPOs. What's more, fund-raising through IPO is expected to gain traction going ahead, as more than 30 companies have filed draft papers with market regulator the Securities & Exchange Board of India (SEBI).
Some institutional investors have opted to buy, and more may do so, the recently issued warrants of HDFC, betting that prices of these instruments would rise quicker than ordinary shares of the mortgage lender, says a report in ET.
RBI will today hold auction of Rs.156.37 bn of bonds issued by 14 states. For the first time in a year, the Reserve Bank of India (RBI) turned net sellers of foreign currency in August to help arrest the slide in the rupee against leading world currencies. According to the latest data, the RBI turned net sellers of foreign currency at US$1,559 million compared with net buying of US$169 million in July.
The Indian Railways plans to commission 6.85 km of tracks per day in the current fiscal year, up from 5.4 km a day in the last fiscal year. Overall, it will commission 2,500 km of tracks in FY16 against 1,980 km in FY15.
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