NEW DELHI: The S&P BSE Sensex
was trading in a narrow range with a positive bias on Tuesday, led by
gains in realty, metals, banks and capital goods sectors on the back of
supportive cues from global peers.
According to analysts, corporate earnings for quarter ended March and global economic situation are likely to decide the course of market in the near term.
At 10:20 a.m.; the 30-share index was at 18,457.08, up 20.30 points or 0.1 per cent. It touched a high of 18,521.73 and a low of 18,456.65 in trade today.
The Nifty was at 5,564.40, up 21.45 points or 0.4 per cent. It touched a high of 5,580.60 and a low of 5,563.40 in trade today.
"The Nifty is expected to head lower till 5500. In this period the key support will be at around 5500 and resistance will be at 5612," says Somil Mehta, Senior Tech Analyst (Equity) at Sharekhan.
"The Nifty has again faced resistance around the 20-daily moving average (DMA) and also broken the previous swing low on the weekly chart which indicates weakness in the short term," he added.
Mehta is of the view that for the Nifty the short-term bias would remain negative for a target of 5450 with reversal around 5756. The medium-term outlook would remain negative.
Here is a list of sixteen stocks that are in action in morning trade today:
Telecom stocks will be in focus, after the Supreme Court allowed the telecom companies to continue 3G pacts until next hearing on April 11.
At 10:20 am, Bharti AirtelBSE -1.87 % was trading 2.1 per cent lower at Rs 275.20. Idea Cellular BSE -0.98 % was trading 1.3 per cent lower at Rs 105.60.
Wipro LtdBSE -10.75 % plunged over 11 per cent in early trade on Tuesday, after the IT major hived off its non-IT business into an unlisted entity to comply with Sebi's minimum public shareholding norm.
At 10:20 am, Wipro was trading 9.7 per cent lower at Rs 405.25.
TVS Motor Company LtdBSE -9.91 %, after the Chennai-based two-wheeler major entered into a long term co-operation with BMW Motorrad to develop and produce new series of sub-500cc motorcycles.
At 10:20 am, TVS Motor was trading 8.2 per cent lower at Rs 36.60.
IL&FS Transportation Ltd, after the infrastructure company said it had won a Rs 1,665 crore project from NHAI for widening of highways stretches in Jharkhand and West Bengal under the flagship road building programme NHDP.
At 10:20 am, the stock was trading flat at Rs 185.25.
Adani Power, Tata Power, Essar Power and JSW Energy will be in focus after the Directorate of Revenue Intelligence (DRI) accused a number of prominent companies in the power and cement sectors of using a loophole in the law to dodge import duty amounting to about Rs 2,500 crore on coal imports.
The agency has questioned officials of Adani Power, Tata Power, Essar Power and JSW EnergyBSE 1.96 % and other companies on coal imports worth about Rs 28,000 crore, ET reported.
At 10:20 am, Adani PowerBSE 4.19 % was trading 4.2 per cent higher at Rs 48.50, Tata PowerBSE 0.21 % was trading flat and JSW Energy rose 1.6 per cent higher at Rs 56.90.
Reliance Industries Ltd, after the oil & gas major stopped gas supplies to power plants after its KG-D6 output hit an all-time low, prompting Power Minister Jyotiraditya ScindiaBSE -4.96 % to press for convening an urgent meeting of a ministerial panel to rework allocations
According to analysts, corporate earnings for quarter ended March and global economic situation are likely to decide the course of market in the near term.
At 10:20 a.m.; the 30-share index was at 18,457.08, up 20.30 points or 0.1 per cent. It touched a high of 18,521.73 and a low of 18,456.65 in trade today.
The Nifty was at 5,564.40, up 21.45 points or 0.4 per cent. It touched a high of 5,580.60 and a low of 5,563.40 in trade today.
"The Nifty is expected to head lower till 5500. In this period the key support will be at around 5500 and resistance will be at 5612," says Somil Mehta, Senior Tech Analyst (Equity) at Sharekhan.
"The Nifty has again faced resistance around the 20-daily moving average (DMA) and also broken the previous swing low on the weekly chart which indicates weakness in the short term," he added.
Mehta is of the view that for the Nifty the short-term bias would remain negative for a target of 5450 with reversal around 5756. The medium-term outlook would remain negative.
Here is a list of sixteen stocks that are in action in morning trade today:
Telecom stocks will be in focus, after the Supreme Court allowed the telecom companies to continue 3G pacts until next hearing on April 11.
At 10:20 am, Bharti AirtelBSE -1.87 % was trading 2.1 per cent lower at Rs 275.20. Idea Cellular BSE -0.98 % was trading 1.3 per cent lower at Rs 105.60.
Wipro LtdBSE -10.75 % plunged over 11 per cent in early trade on Tuesday, after the IT major hived off its non-IT business into an unlisted entity to comply with Sebi's minimum public shareholding norm.
At 10:20 am, Wipro was trading 9.7 per cent lower at Rs 405.25.
TVS Motor Company LtdBSE -9.91 %, after the Chennai-based two-wheeler major entered into a long term co-operation with BMW Motorrad to develop and produce new series of sub-500cc motorcycles.
At 10:20 am, TVS Motor was trading 8.2 per cent lower at Rs 36.60.
IL&FS Transportation Ltd, after the infrastructure company said it had won a Rs 1,665 crore project from NHAI for widening of highways stretches in Jharkhand and West Bengal under the flagship road building programme NHDP.
At 10:20 am, the stock was trading flat at Rs 185.25.
Adani Power, Tata Power, Essar Power and JSW Energy will be in focus after the Directorate of Revenue Intelligence (DRI) accused a number of prominent companies in the power and cement sectors of using a loophole in the law to dodge import duty amounting to about Rs 2,500 crore on coal imports.
The agency has questioned officials of Adani Power, Tata Power, Essar Power and JSW EnergyBSE 1.96 % and other companies on coal imports worth about Rs 28,000 crore, ET reported.
At 10:20 am, Adani PowerBSE 4.19 % was trading 4.2 per cent higher at Rs 48.50, Tata PowerBSE 0.21 % was trading flat and JSW Energy rose 1.6 per cent higher at Rs 56.90.
Reliance Industries Ltd, after the oil & gas major stopped gas supplies to power plants after its KG-D6 output hit an all-time low, prompting Power Minister Jyotiraditya ScindiaBSE -4.96 % to press for convening an urgent meeting of a ministerial panel to rework allocations
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