The market is still flat but traders continue to build positions in midcap. The Sensex is up 38.18 points at 27403.10 and the Nifty is up 11.55 points at 8286.60. About 1448 shares have advanced, 774 shares declined, and 133 shares are unchanged. Both midcap and smallcap indices are up 0.7 percent each. Tata Motors, TCS, NTPC, L&T and BHEL are top gainers in the Sensex. Among the losers are Cipla, Vedanta, Hindalco, ONGC and Hero.
Hero MotoCorp is likely to report tepid September quarter results due to weak rural demand. According to a CNBC-TV18 poll, the two-wheeler manufacturer's net profit may slip 6 percent to Rs 717.2 crore in Q2FY16 from Rs 763.4 crore in year-ago period. Weak volumes are seen dragging revenue by 3.4 percent to Rs 6681 crore against Rs 6915.3 crore year-on-year.
The rupee trimmed its initial losses, but was still down 10 paise at 64.90 per dollar in late-morning deals in the midst of sustained demand for the US currency from importers amid lower dollar overseas. Overseas,the dollar gave back some of its overnight gains against the euro today after marking a 10-day high ahead of this week's European Central Bank meeting, which some investors believe could set the stage for additional stimulus later this year.
Read More – Free Nifty tips
The rupee trimmed its initial losses, but was still down 10 paise at 64.90 per dollar in late-morning deals in the midst of sustained demand for the US currency from importers amid lower dollar overseas. Overseas,the dollar gave back some of its overnight gains against the euro today after marking a 10-day high ahead of this week's European Central Bank meeting, which some investors believe could set the stage for additional stimulus later this year.
Read More – Free Nifty tips
No comments:
Post a Comment