Indian markets recovers on buying in Bank stocks, after going through a blood bath since initial bell. Bounce back in Asian markets from days low also added to positive sentiment. NSE Nifty is trading around 4,000 level and BSE Sensex is above 13,250 mark. Bank and Oil & Gas stocks are able to gain favour from market. However, Metal, Reality, Capital Goods and Pharma stocks are major sufferers of negative sentiment. Among the Sensex pack, 16 stocks are trading in red and 14 are in green.
To protect the depreciating currencies, Asian authorities are discharging currencies into the markets. China relaxed its policies for second time this week and Japan, Australia and India pumped a further $28 billion into money markets. Bank of Japan injected an additional $14.35 billion into the short term money market to provide liquidity. Australian Central Bank added A$23.92 billion, bringing its injection this week to A$11.2 billion. In India, the central bank supplied $1.35 billion to banks. China central bank allowed yields on its three month bills to drop 4 basis points to at an auction after keeping the rate steady for six month.
At 1.31PM, the BSE Sensex is trading lower by 5.20 points at 13,268.10 while NSE Nifty is up by 8.50 points at 4,016.85.
The BSE Mid Cap and Small cap are trading lower by 112.46 points and 210.87 points at 5,027.17 and 6,003.88 respectively.
Gainers from the BSE are State Bank of India trading down by (2.71%) at Rs1,570.10 in line with M&M Ltd by (2.17%) at Rs549.00, HDFC Bank Ltd by (2.08%) at Rs1,209.00, NTPC Ltd by (2.01%) at Rs172.25, HUL by (1.85%) at Rs242.40 and Wipro Ltd (1.81%) at Rs407.00.
The BSE Bank index is trading up by 177.03 points at Rs6,769.99 as Karnataka Bank is trading higher by (4.27%) at Rs114.20 followed by PNB (4.12%) at Rs515.70, State Bank of India (2.97%) at Rs1,574.00, Kotak Bank by (2.70%) at Rs568.30 and HDFC Bank Ltd (1.91%) at Rs1,207.00.
The BSE Metal index is trading lower by 209.40 points at Rs9,605.53 as Guajrat NRE C is trading down by (10.90%) at Rs59.25 along with Welspan Gujarat Sr (7.51%) at Rs250.70, Sesa Goa Ltd (7.39%) at Rs103.95 and JSW SL (4.51%) at Rs612.00.
From the telecommunication sector, Bharti Airtel is trading down by (5.86%) at Rs725.00 along with Reliance Com Ltd by (4.07%) at Rs344.30 and Idea Cellular lower by (1.45%) at Rs74.80 while Tata Communications is up by (2.60%) at Rs441.55.
From cement sector by Grasim Indus is trading down by (1.57%) at Rs1,865.00, while Ambuja cements is trading down by (3.37%) at Rs81.40 and ACC Ltd by (1.95%) at Rs605.00.
To protect the depreciating currencies, Asian authorities are discharging currencies into the markets. China relaxed its policies for second time this week and Japan, Australia and India pumped a further $28 billion into money markets. Bank of Japan injected an additional $14.35 billion into the short term money market to provide liquidity. Australian Central Bank added A$23.92 billion, bringing its injection this week to A$11.2 billion. In India, the central bank supplied $1.35 billion to banks. China central bank allowed yields on its three month bills to drop 4 basis points to at an auction after keeping the rate steady for six month.
At 1.31PM, the BSE Sensex is trading lower by 5.20 points at 13,268.10 while NSE Nifty is up by 8.50 points at 4,016.85.
The BSE Mid Cap and Small cap are trading lower by 112.46 points and 210.87 points at 5,027.17 and 6,003.88 respectively.
Gainers from the BSE are State Bank of India trading down by (2.71%) at Rs1,570.10 in line with M&M Ltd by (2.17%) at Rs549.00, HDFC Bank Ltd by (2.08%) at Rs1,209.00, NTPC Ltd by (2.01%) at Rs172.25, HUL by (1.85%) at Rs242.40 and Wipro Ltd (1.81%) at Rs407.00.
The BSE Bank index is trading up by 177.03 points at Rs6,769.99 as Karnataka Bank is trading higher by (4.27%) at Rs114.20 followed by PNB (4.12%) at Rs515.70, State Bank of India (2.97%) at Rs1,574.00, Kotak Bank by (2.70%) at Rs568.30 and HDFC Bank Ltd (1.91%) at Rs1,207.00.
The BSE Metal index is trading lower by 209.40 points at Rs9,605.53 as Guajrat NRE C is trading down by (10.90%) at Rs59.25 along with Welspan Gujarat Sr (7.51%) at Rs250.70, Sesa Goa Ltd (7.39%) at Rs103.95 and JSW SL (4.51%) at Rs612.00.
From the telecommunication sector, Bharti Airtel is trading down by (5.86%) at Rs725.00 along with Reliance Com Ltd by (4.07%) at Rs344.30 and Idea Cellular lower by (1.45%) at Rs74.80 while Tata Communications is up by (2.60%) at Rs441.55.
From cement sector by Grasim Indus is trading down by (1.57%) at Rs1,865.00, while Ambuja cements is trading down by (3.37%) at Rs81.40 and ACC Ltd by (1.95%) at Rs605.00.
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