Domestic bourses after succumbing to selling pressure post registering two sessions of gains are now trading in a very range-bound fashion amidst absence of any major trigger driving the markets either side. However, broader indices unscathed by the negative global equities are enticing larger gains, thereby maintaining their star performer's status for the second consecutive session. Basically, the dive of Index heavyweights into the red coupled with the bleak performance of global equities has dented the sentiment at Dalal Street. As the market bellwether - Reliance Industries - trading lower by 0.75%, Infosys Technologies falling close to 0.50%, State Bank of India declining close to 0.05% have painted the picture red for the Indian equity markets. Meanwhile, on the global front, U.S. indexes pared gains and turned negative for fifth day in a row after Fed Chairman Bernanke's speech. Bernanke estimated economy to rebound in the second half but he also highlighted uneven recovery and persistent weakness in the labor market. Also, Asian stock markets were mostly lower on persisting worries about a slowdown in global economic growth, with the Japanese market hitting the skids as the yen rose to a fresh one-month high against the U.S. dollar. The US future indices too were showing a downtick in the screen trade. Back home, on the BSE sectoral front, stocks from Oil & Gas, Bankex and TECk counters were offsetting gains from the stocks belonging to the Consumer Durable (CD), Fast Moving Consumer Goods (FMCG) and Public Sector Undertaking (PSU) space. The 30 share barometer index - Sensex - lost close over 50 points while the 50 share index Nifty was trading lower by 10 points. However, the overall market breadth on BSE was majorly in the favour of advances which thumped declines in the ratio of 1279:865, while 98 shares remained unchanged.
The BSE Sensex is currently trading at 18,444.07, down by 51.55 points or 0.28%. The index has touched a high and low of 18,477.17 and 18,400.44 respectively. There were 12 stocks advancing against 18 declines on the index.
The broader indices were outperforming benchmarks; the BSE Mid cap and Small cap indices were up by 0.30% and 0.52% respectively.
The top gaining sectoral indices on the BSE were, CD up by 0.71%, FMCG up by 0.55%, PSU up by 0.29%, Power was up by 0.20% and CG up by 0.17%. While, Oil and Gas down by 0.79%, Bankex down by 0.46%, TECk and Auto were down by 0.27% and Realty down by 0.23% were the top losers on the index.
The top gainers on the Sensex were NTPC up by 1.42%, RCom up by 1.20%, Tata Motors up by 0.89%, ITC up by 0.88% and BHEL was up by 0.59%.
On the flip side, ONGC down by 1.81%, Bharti Airtel down by 1.52%, Maruti Suzuki down by 1.17%, HDFC Bank down by 1.04% and Hero Honda down by 0.94% were the top losers on the index.
Meanwhile, Japan has pledged overseas development assistance (ODA) loan package of Rs 8,632 crore (about 155.549 billion yen) to India in the current fiscal year to fund seven projects, including the Bangalore Metro Rail and the Andhra Pradesh high voltage distribution system project. Prabodh Saxena, Joint Secretary, Department of Economic Affairs and Akitaka Saiki, Ambassador of Japan to India inked the agreement for second batch of FY 2010 Japan International Cooperation Agency (JICA) ODA loan package for seven projects on June 6, 2011.
India, which continues to be the highest recipient of ODA loans, will see the recent ODA loan package cover various sectors including power, energy, urban transport, road safety, forestry and financial services spread across various states. The seven major and minor projects in the infrastructure sector in India include Andhra Pradesh High Voltage Distribution System Project which was allocated Rs 1031.74 crore and Madhya Pradesh Transmission System Modernization Project with an allocation of Rs 1024.36 crore). An allocation of Rs 1,665 crore each has also been made for micro, small and medium enterprises (MSME) energy saving project (second phase) and the new and renewable energy development project. Bangalore Metro Rail Project (II) was allocated Rs 1100.67 crore, Bihar National Highway Improvement Project was allocated Rs 1271.11 crore and Rajasthan Forestry and Biodiversity Project (Phase 2) was allocated Rs 874.06 crore.
While India and Japan have had a long and fruitful history of bilateral development co-operation since 1958, relations between the two countries have steadily been progressing over the past few years under the India-Japan Global Partnership. The visits of the Indian Prime Minister to Japan in 2006, 2008 and 2010 and the visit of Japanese Prime Minister to India in 2007 and 2009 have further strengthened the India-Japan Global Partnership by adding greater substance to the bilateral relations based on India-Japan Global Partnership.
The S&P CNX Nifty is currently trading at 5,539.65, down by 16.50 points or 0.30%. The index has touched a high and low of 5,548.20 and 5,526.50 respectively. There were 21 stocks advancing against 29 declines on the index.
The top gainers of the Nifty were NTPC up by 1.50%, RCom up by 1.09%, Sesa Goa up by 1.03%, Tata Motors up by 0.95% and GAIL up by 0.79%.
ONGC down by 1.66%, Bharti Airtel down by 1.31%, Hero Honda down by 1.20%, Reliance Industries (RIL) down by 1.10% and Maruti Suzuki by 1.02% were the major losers on the index.
All the Asian counterparts barring KLSE Composite were trading in the red; Shanghai Composite declined 0.34%, Hang Seng shed 0.93%, Jakarta Composite trimmed 0.38%, Nikkei 225 edged lower by 0.02%, Straits Times tumbled 0.41%, Seoul Composite plunged 1.03% and Taiwan Weighted lowered by 0.15%.On the flip side, KLSE Composite up by 0.09% was the lone gainers among the Asian pack.
The BSE Sensex is currently trading at 18,444.07, down by 51.55 points or 0.28%. The index has touched a high and low of 18,477.17 and 18,400.44 respectively. There were 12 stocks advancing against 18 declines on the index.
The broader indices were outperforming benchmarks; the BSE Mid cap and Small cap indices were up by 0.30% and 0.52% respectively.
The top gaining sectoral indices on the BSE were, CD up by 0.71%, FMCG up by 0.55%, PSU up by 0.29%, Power was up by 0.20% and CG up by 0.17%. While, Oil and Gas down by 0.79%, Bankex down by 0.46%, TECk and Auto were down by 0.27% and Realty down by 0.23% were the top losers on the index.
The top gainers on the Sensex were NTPC up by 1.42%, RCom up by 1.20%, Tata Motors up by 0.89%, ITC up by 0.88% and BHEL was up by 0.59%.
On the flip side, ONGC down by 1.81%, Bharti Airtel down by 1.52%, Maruti Suzuki down by 1.17%, HDFC Bank down by 1.04% and Hero Honda down by 0.94% were the top losers on the index.
Meanwhile, Japan has pledged overseas development assistance (ODA) loan package of Rs 8,632 crore (about 155.549 billion yen) to India in the current fiscal year to fund seven projects, including the Bangalore Metro Rail and the Andhra Pradesh high voltage distribution system project. Prabodh Saxena, Joint Secretary, Department of Economic Affairs and Akitaka Saiki, Ambassador of Japan to India inked the agreement for second batch of FY 2010 Japan International Cooperation Agency (JICA) ODA loan package for seven projects on June 6, 2011.
India, which continues to be the highest recipient of ODA loans, will see the recent ODA loan package cover various sectors including power, energy, urban transport, road safety, forestry and financial services spread across various states. The seven major and minor projects in the infrastructure sector in India include Andhra Pradesh High Voltage Distribution System Project which was allocated Rs 1031.74 crore and Madhya Pradesh Transmission System Modernization Project with an allocation of Rs 1024.36 crore). An allocation of Rs 1,665 crore each has also been made for micro, small and medium enterprises (MSME) energy saving project (second phase) and the new and renewable energy development project. Bangalore Metro Rail Project (II) was allocated Rs 1100.67 crore, Bihar National Highway Improvement Project was allocated Rs 1271.11 crore and Rajasthan Forestry and Biodiversity Project (Phase 2) was allocated Rs 874.06 crore.
While India and Japan have had a long and fruitful history of bilateral development co-operation since 1958, relations between the two countries have steadily been progressing over the past few years under the India-Japan Global Partnership. The visits of the Indian Prime Minister to Japan in 2006, 2008 and 2010 and the visit of Japanese Prime Minister to India in 2007 and 2009 have further strengthened the India-Japan Global Partnership by adding greater substance to the bilateral relations based on India-Japan Global Partnership.
The S&P CNX Nifty is currently trading at 5,539.65, down by 16.50 points or 0.30%. The index has touched a high and low of 5,548.20 and 5,526.50 respectively. There were 21 stocks advancing against 29 declines on the index.
The top gainers of the Nifty were NTPC up by 1.50%, RCom up by 1.09%, Sesa Goa up by 1.03%, Tata Motors up by 0.95% and GAIL up by 0.79%.
ONGC down by 1.66%, Bharti Airtel down by 1.31%, Hero Honda down by 1.20%, Reliance Industries (RIL) down by 1.10% and Maruti Suzuki by 1.02% were the major losers on the index.
All the Asian counterparts barring KLSE Composite were trading in the red; Shanghai Composite declined 0.34%, Hang Seng shed 0.93%, Jakarta Composite trimmed 0.38%, Nikkei 225 edged lower by 0.02%, Straits Times tumbled 0.41%, Seoul Composite plunged 1.03% and Taiwan Weighted lowered by 0.15%.On the flip side, KLSE Composite up by 0.09% was the lone gainers among the Asian pack.
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