1. Sensex, Nifty stall ahead of WPI inflation data; Sun Pharma cracks 2%

Sensex, Nifty stall ahead of WPI inflation data; Sun Pharma cracks 2%

Sensex and Nifty edged little higher in the opening trade but traded mostly unchanged on Tuesday after opening flat ahead of the key macroeconomic data release.

By: | Updated: November 14, 2017 9:57 AM
Bombay Stock Exchange building. (Image: Wikimedia Commons)

Sensex and Nifty edged higher in the opening trade on Tuesday after opening flat ahead of the key macroeconomic data release. Investors are keenly awaiting the WPI inflation, food, fuel, manufacturing as it is may provide a direction to markets. BSE Sensex opened 43.53 points or 0.13% at 32,990.03 while NSE Nifty lost 1.55 points or 0.02% to start at 10,223.4. Shares of Eicher Motors, GAIL, Sun Pharma will in close watch ahead of their Q2 results. The appreciation in the share price of bluechip stocks such as RIL, HDFC, and ITC kept the indices up.

Shares of NTPC, RIL, Lupin, Hero MotoCorp, Bharti Airtel gained up to 1.7% while Coal India, L&T, Power Grid and TCS lost up to 1.4%. The stock of Sun Pharma lose the most on Sensex, shed 1.72% at Rs 523.35 ahead of Q2 results today. The stocks of Heavyweight companies such as RIL, HDFC Bank, NTPC and ITC contributed the most to the Sensex gains. Collectively these 4 stocks added about 65 points while a decline in ICICI Bank, L&T, TCS and Sun Pharma shaved off about 53 points. The benchmark Sensex made a high of 33,126.55 and a low of 32,987.58 today.

Other major companies which are also scheduled to announce their second-quarter earnings today are Tata Global Beverages, Bank Of Baroda, Bata India, Cadila Healthcare, Ceat, Corporation Bank, Godrej Industries, Grasim Industries, Indiabulls Real Estate, Indo Count Industries, Infibeam Incorporation, Ipca Laboratories, JP Associates, JK Tyre & Industries, Karur Vysya Bank, MRPL, NBCC, NLC India, Reliance Capital and MOIL.

US stock indexes rose on Monday as a sharp drop in General Electric shares was more than offset by gains in high dividend-paying sectors including consumer staples and utilities, Reuters reported. General Electric slashed its dividend by 50% and cut its profit forecast while unveiling a plan that narrowed its focus on aviation, power and healthcare. The Dow Jones Industrial Average rose 17.49 points or 0.07% to 23,439.7, the S&P 500 gained 2.54 points or 0.10% to 2,584.84 and the Nasdaq Composite added 6.66 points or 0.1% to 6,757.6.

Meanwhile, among the regional markets, Japan’s benchmark Nikkei 225 recouped earlier gains to end the morning session at 22,441.24, up 0.3%. Australia’s S&P/ASX 200 fell 0.9% to 5,967.5. South Korea’s Kospi edged down 0.2% to 2,524.6. Hong Kong’s Hang Seng was little changed at 29,180.64, while the Shanghai Composite lost 0.3% to 3,436.93. Brent crude, used to price international oils, slipped 21 cents to $62.95 a barrel in London, Associated Press reported.

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