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Markets trade in green, Metals languish
Oil & gas stocks help in Sensex recovery
Clean Media Correspondent
Mumbai, Sept 11 (CMC) Markets are trading in the green this afternoon. The Sensex is up 49 points at 17,816. Nifty is up 12 points at 5,375.
On the global front, the Asian markets are also trading on a weak note in trades today ahead of a key German ruling on the euro zone's bailout funds and the U.S. Federal Reserve's policy decision, repositioning from last week's rally spurred by heightened speculation for more stimulus globally. Nikkei and Shanghai Composite are down 0.7% each. However, Hang Seng has managed to recover from its lows and is currently up 0.2% at 19,870.
From the sectoral pack, BSE oil & gas index has gained 0.5% at 8,416. Healthcare, IT and PSU shares are also marginally in green. However, BSE metal index is showing some weakness and is now down 1.3% at 9,771. Auto shares have slipped marginally as well.
India's state-run oil marketing companies rose on Tuesday on media reports that a cabinet panel will meet later in the day to look into a potential hike in fuel prices.
From the Metals pace, Sterlite is the top Sensex loser, down over 4% at Rs 94 after Goa temporarily suspended all mining activities starting on Tuesday. An expert panel formed by the government found "serious illegalities and irregularities" in mining operations, the state government said in a statement late on Monday. Jindal Steel and Tata Steel were down 1-3% each.
Hero MotoCorp, Wipro, Bharti Airtel and HUL were some of the other losers. Tata Motors and HDFC Bank are trading almost flat after the company's ADRs dropped overnight in the US market. On the other hand, Gail India has gained 1.5% at Rs 372. HDFC has added 1% after the firm said it has allotted 5.47 crore equity shares at Rs 600 per share & realised an amount of Rs 3284.59 crore, representing 99.95% of the warrants issued. NTPC and BHEL are up around 1% each.
India's state-run oil marketing companies rose on Tuesday on media reports that a cabinet panel will meet later in the day to look into a potential hike in fuel prices. HPCL is up 2%, followed by BPCL - up 1.8%.
BSE market breadth is positive. Out of 2,660 stocks traded, 1,404 shares have advanced while 1,115 shares have delicned in trades.
Markets trade in green, Metals languish
Oil & gas stocks help in Sensex recovery
Clean Media Correspondent
Mumbai, Sept 11 (CMC) Markets are trading in the green this afternoon. The Sensex is up 49 points at 17,816. Nifty is up 12 points at 5,375.
On the global front, the Asian markets are also trading on a weak note in trades today ahead of a key German ruling on the euro zone's bailout funds and the U.S. Federal Reserve's policy decision, repositioning from last week's rally spurred by heightened speculation for more stimulus globally. Nikkei and Shanghai Composite are down 0.7% each. However, Hang Seng has managed to recover from its lows and is currently up 0.2% at 19,870.
From the sectoral pack, BSE oil & gas index has gained 0.5% at 8,416. Healthcare, IT and PSU shares are also marginally in green. However, BSE metal index is showing some weakness and is now down 1.3% at 9,771. Auto shares have slipped marginally as well.
India's state-run oil marketing companies rose on Tuesday on media reports that a cabinet panel will meet later in the day to look into a potential hike in fuel prices.
From the Metals pace, Sterlite is the top Sensex loser, down over 4% at Rs 94 after Goa temporarily suspended all mining activities starting on Tuesday. An expert panel formed by the government found "serious illegalities and irregularities" in mining operations, the state government said in a statement late on Monday. Jindal Steel and Tata Steel were down 1-3% each.
Hero MotoCorp, Wipro, Bharti Airtel and HUL were some of the other losers. Tata Motors and HDFC Bank are trading almost flat after the company's ADRs dropped overnight in the US market. On the other hand, Gail India has gained 1.5% at Rs 372. HDFC has added 1% after the firm said it has allotted 5.47 crore equity shares at Rs 600 per share & realised an amount of Rs 3284.59 crore, representing 99.95% of the warrants issued. NTPC and BHEL are up around 1% each.
India's state-run oil marketing companies rose on Tuesday on media reports that a cabinet panel will meet later in the day to look into a potential hike in fuel prices. HPCL is up 2%, followed by BPCL - up 1.8%.
BSE market breadth is positive. Out of 2,660 stocks traded, 1,404 shares have advanced while 1,115 shares have delicned in trades.
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