Early Morning Trade:
LIVE market updates: The markets were exhibiting volatility in early morning trade on Tuesday, amid negative gloabl cues and stock specific trading action. The BSE Sensex touched a low of 59,992 in the opening deals, but soon recovered losses and jumped to a high of 60,264. The Sensex, however, could not hold gains for long, and slipped back into the negative zone, down 83 points at 60,052.
The NSE Nifty 50 index was down 10 points at 17,936.
Elsewhere in Asia, China’s Shanghai Composite index, Hang Seng and Japan’s Nikkei were down a per cent each.
Back home, the broader markets, however, were holding some gains. The BSE Midcap was up 0.1 per cent at 26,000, and the Smallcap index was up 0.2 per cent at 29,555.
IT stocks continued to reel under selling pressure for the second straight day. The BSE IT index was down 0.4 per cent at 34,600. The BSE Realty index is the other major loser, down 0.8 per cent at 4,177.
On the positive front, the BSE Consumer Durables index has surged a per cent to 44,683, and the FMCG index has added 0.5 per cent. The Auto index has also gained 0.7 per cent, while the Energy index was up 0.4 per cent.
Bajaj Auto has rallied 3 per cent to Rs 3,969, and was the top gainer in the Sensex 30. Titan Industries, ITC and Dr.Reddy’s were the other prominent gainers, up 1-2 per cent each.
On the flip side, HCL Technologies has shed 2.5 per cent at Rs 1,270. Mahindra & Mahindra, Infosys, ICICI Bank and Tech Mahindra are the other notable losers.
The market breadth is fairly positive in the first hour of trades, with 1,632 advancing shares versus 1,114 declining stocks on the BSE.
Opening Trade: (Updated at 09:20 AM)
LIVE market updates: Mirroring negative cues from the overseas markets, the BSE Sensex opened 90 points lower at 60,046. The BSE index touched a low of 59,991, but soon recouped losses and rebounded into the positive zone. The BSE index was quoted at 60,171, up 36 points as of 09:20 AM. The NSE Nifty 50 index was up 30 points at 17,976.
Among the broader indices, the BSE Midcap and Smallcap indices were up 0.5 per cent each at 26,100 and 29,673, respectively.
Sun Pharma was the top gainer in the Sensex 30 stocks, up a per cent at Rs 841. NTPC, SBI, Tata Steel, Reliance Industries and Bajaj Auto also edged higher in opening deals.
On the other hand, Mahindra & Mahindra slipped a per cent to Rs 887. Infosys, Maruti Suzuki, and ICICI Bank were other prominent losers.
Pre-open Session: (Updated at 09:10 AM)
LIVE market updates: The BSE Sensex ended the pre-open session, with a loss of 91 points at 60,045. The NSE Nifty 50 index was down 30 points at 17,916.
NTPC was the top gainer in the Sensex 30 stocks, up 1.5 per cent followed by TCS, HCL Technologies, PowerGrid Corporation and Axis Bank.
On the other hand, Mahindra & Mahindra, IndusInd Bank, Infosys and ICICI Bank were the prominent losers in the Sensex 30.
(Updated at 08:11 AM)
Indian market are eyeing a gap-down start on Tuesday as soaring energy and commodity prices stoke inflation fears. SGX Nifty was down 105 points at 17,856 around 8.05 am.
Separately, investors would keenly eye the September CPI Inflation and the Industrial Output for August, wherein encouraging numbers could help markets trim losses.
A total of 6 companies will post their September quarter earnings today, namely BEPL, DRC Systems India, JTL Infra, Ind Bank Housing, IndBank Merchant Banking Services and G.M. Breweries.
In Asia, most markets declined along with US equity futures. Japan’s Topix index lost 0.8 per cent, South Korea’s Kospi declined 1.8 per cent, Australia’s S&P/ASX 200 Index fell 0.4 per cent and Hong Kong’s Hang Seng Index shed 1.6 per cent. S&P 500 futures were down 0.7 per cent.