The Indian equity markets wipe outs early trade gains
and currently continuing to trade flat and quiet, with negative bias
amid a choppy trade. The BSE benchmark index slipped into the red due to
profit booking in Auto, Metal and FMCG space. Heavyweight ONGC fell
nearly 1.09% on news that government may launch follow-on public offer
of the company in September. On sectoral front the information
technology index rose over 0.50% led by India's largest software
services exporter, Tata Consultancy Services (TCS), after the company
posted a higher-than-expected quarterly net profit of 28%. TCS remained
top gainer, with rising 2.53%. Auto, Private Financial, Metal and FMCG
companies' shares were putting pressure on the market, while IT, TECk
and Reality company's shares are on buyer's radar. On the global front,
Asian markets were trading in mix as there seems no policy action to be
emanating on Europe concerns. Back home, the market breadth was
marginally positive; there were 1,301 shares on the gaining side against
1,154 shares on the losing side while 95 shares remained unchanged.
The BSE Sensex is currently trading at 18,579.67, down by 38.53 points or 0.21%. The index has touched a high and low of 19,619.65 and 18,513.22 respectively. There were just 8 stocks advancing against 22 declines on the index.
The broader indices were trading mixed; the BSE Mid cap index was down by 0.01%, while the Small cap index was up by 0.23%.
On the BSE sectoral front, IT up by 0.52%, TECk up by 0.18%, Realty up 0.15%, Power up by 0.04% and Oil & Gas up 0.02% were the top gainers, while Auto down by 0.68, Metal down by 0.63%, FMCG down by 0.21%, CG down by 0.18% and HC down by 0.15% were the major losers.
TCS up by 2.53%, NTPC up by 0.71%, SBI up by 0.61%, HDFC Bank up by 0.55% and Wipro down by 0.52% were the top gainers, while Sterlite Inds down by 1.80%, Tata Motors down by 1.69%, Cipla down by 1.67, Hero Honda down by 1.50% and Bajaj Auto down by 1.21% were the top losers on the 30 scrip sensitive index-Sensex-on BSE.
Meanwhile, in a series of bad news for the government, after a buoyant start, India's monsoon slipped into the red in the first two week of July with the country receiving 3% deficient rains since its start in June. According to the statistics released by the India Meteorological Department (IMD), eight of the 36 sub-divisions had received deficient rainfall in a month when farmers take up sowing in a big way. July is the key planting month during the June-September monsoon, when rainfall distribution over major crop regions is important for sowing crops.
Monsoon rains were below 19% of normal level for week ending July 13, however, IMD has presented an outlook of fairly widespread rainfall over many parts of the country except for southeast peninsula for the coming five days. The southeast peninsula is likely to get scattered rains during the period.
Previous year, for the week ending July 14, rainfall was 24% below the normal level, however, monsoon picked up in remaining period of June-September and monsoon ended as normal. In April, IMD had estimated normal monsoon for the current year and pegged the rainfall at 98% of the long period of 89 cm.
India, one of the world's biggest producers and consumers of grains and sugar, relies on the June to September rains for 60% of its farms and failure of the monsoon can force it to import, sending international prices higher. Normal monsoon is essential to curb food inflation; whereby good farm output can reduce the prices of commodities. A well distributed monsoon would boost farm production and help ease high food inflation that stood at 8.31% in the year to July 2.
The S&P CNX Nifty is currently trading at 5,582.60, down by 17.20 points or 0.31%. The index has touched a high and low of 5,631.70 and 5,562.75 respectively. There were 13 stocks advancing against 36 declines, while one stock remained unchanged on the index.
The top gainers of the Nifty were TCS up by 2.62%, BPCL up by 1.26%, IDFC up by 0.83%, NTPC up by 0.74% and SBI was up by 0.59%.
Tata Motors down by 2.20%, GAIL down by 1.72%, Cipla down by 1.67%, Hero Honda down by 1.41% and Siemens down by 1.37% were the major losers on the index.
The BSE Sensex is currently trading at 18,579.67, down by 38.53 points or 0.21%. The index has touched a high and low of 19,619.65 and 18,513.22 respectively. There were just 8 stocks advancing against 22 declines on the index.
The broader indices were trading mixed; the BSE Mid cap index was down by 0.01%, while the Small cap index was up by 0.23%.
On the BSE sectoral front, IT up by 0.52%, TECk up by 0.18%, Realty up 0.15%, Power up by 0.04% and Oil & Gas up 0.02% were the top gainers, while Auto down by 0.68, Metal down by 0.63%, FMCG down by 0.21%, CG down by 0.18% and HC down by 0.15% were the major losers.
TCS up by 2.53%, NTPC up by 0.71%, SBI up by 0.61%, HDFC Bank up by 0.55% and Wipro down by 0.52% were the top gainers, while Sterlite Inds down by 1.80%, Tata Motors down by 1.69%, Cipla down by 1.67, Hero Honda down by 1.50% and Bajaj Auto down by 1.21% were the top losers on the 30 scrip sensitive index-Sensex-on BSE.
Meanwhile, in a series of bad news for the government, after a buoyant start, India's monsoon slipped into the red in the first two week of July with the country receiving 3% deficient rains since its start in June. According to the statistics released by the India Meteorological Department (IMD), eight of the 36 sub-divisions had received deficient rainfall in a month when farmers take up sowing in a big way. July is the key planting month during the June-September monsoon, when rainfall distribution over major crop regions is important for sowing crops.
Monsoon rains were below 19% of normal level for week ending July 13, however, IMD has presented an outlook of fairly widespread rainfall over many parts of the country except for southeast peninsula for the coming five days. The southeast peninsula is likely to get scattered rains during the period.
Previous year, for the week ending July 14, rainfall was 24% below the normal level, however, monsoon picked up in remaining period of June-September and monsoon ended as normal. In April, IMD had estimated normal monsoon for the current year and pegged the rainfall at 98% of the long period of 89 cm.
India, one of the world's biggest producers and consumers of grains and sugar, relies on the June to September rains for 60% of its farms and failure of the monsoon can force it to import, sending international prices higher. Normal monsoon is essential to curb food inflation; whereby good farm output can reduce the prices of commodities. A well distributed monsoon would boost farm production and help ease high food inflation that stood at 8.31% in the year to July 2.
The S&P CNX Nifty is currently trading at 5,582.60, down by 17.20 points or 0.31%. The index has touched a high and low of 5,631.70 and 5,562.75 respectively. There were 13 stocks advancing against 36 declines, while one stock remained unchanged on the index.
The top gainers of the Nifty were TCS up by 2.62%, BPCL up by 1.26%, IDFC up by 0.83%, NTPC up by 0.74% and SBI was up by 0.59%.
Tata Motors down by 2.20%, GAIL down by 1.72%, Cipla down by 1.67%, Hero Honda down by 1.41% and Siemens down by 1.37% were the major losers on the index.
Asian
markets were trading in mixed; Hang Seng was down 0.18%, KLSE Composite
was down 0.29% and Straits Times was down by 0.09%.
On the other hand Jakarta Composite was up 0.48%,
Nikkei 225 was up 0.40%, Seoul Composite was up 0.50%, Taiwan Weighted
was up by 1.10% and Shanghai Composite was up by 0.13% .
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