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Sensex trades flat in late morning deals; profits in telecom, power and oil & gas

Major gainers include M&M, GAIL, SBI, CIPLA, HDFC Bank and L&T, while Maruti, Adani Ports, Bharti Airtel and Coal India among notable losers.

By: PTI | Mumbai |
June 6, 2016 10:14:04 am
Sensex, Sensex today, Today Sensex, Today Markets, Markets today, Markets, RBI, Monsoon forecast, Rainfall, Monsoon, Asia markets, India markets, Bombay Stock Exchange, BSE, NSE, Nifty, Business news, Stock price today, Stock prices, Markets live, Market news, FMCG, Japan, China, Hang Seng, Nikkei, Shanghai, Shanghai Composite Index, Dow Jones BSE is showing a marginal gain of 10.74 points or 0.04 per cent.

The BSE benchmark Sensex pared its early gains to trade flat in late morning deals, quoting marginally higher by 10.74 points at 26,853.77 on bouts of buying in IT, capital goods, realty, industrial, banks and financial sectors.

Caution prevailed ahead of the RBI monetary policy review on June 7 as well as mixed Asian cues.

Profit-booking was seen in telecom, consumer durables, metals, power and oil & gas sectors.

The 30-share index resumed higher at 26,897.84 and hovered in a range of 26,901.42 and 26,821.94, before quoting at 26,853.77 at 1110 hours, showing a marginal gain of 10.74 points or 0.04 per cent.

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The NSE 50-share Nifty was also trading up by 1.35 points or 0.02 per cent at 8,222.15.

Major gainers were M&M 1.68 per cent, GAIL 1.65 per cent, SBI 1.48 per cent, CIPLA 0.96 per cent, HDFC Bank 0.63 per cent and L&T 0.51 per cent.

Notable losers were Maruti 2.11 per cent, Adani Ports 1.93 per cent, Bharti Airtel 1.90 per cent and Coal India 1.26 per cent.

Foreign portfolio investors (FPIs) bought shares worth net Rs 1,585.01 crore last Friday, as per provisional data released by the stock exchanges.

Overseas, Asian markets were trading mixed, while US stocks fell on June 3 after data showed US employers last month added the fewest jobs in more than five years. The Labor Department said non-farm payrolls rose by 38,000 in May, the weakest performance since September 2010.

The Indian rupee gained in early trade, opening higher by 30 paise at 66.95 per dollar versus 67.25 Friday. Dollar sees mild gains after posting its largest one-day percentage fall against a basket of major currencies since February on Friday, meanwhile the yen surges.

According to the market analysts the rupee is expected to trade stronger on back of weak data from US, thus a weakening USD. The trading range for USD-INR pair will be 66.80 – 67.50/dollar for the day.

Chinese mainland markets traded mixed, with the Shanghai composite nearly flat, while the Shenzhen composite added 0.30 percent.


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