The Nifty is drifting
back to the lower end of the trading range as it hovered above the
support level of 5,200 on the back of the weak rupee and Asian peers.
The rupee slipped below 53 per dollar, a new four-month low, as risk-averse investors continued to buy the greenback. Demand from importers also put pressure on the rupee. The rupee fell to a low of 53.18/19 per dollar against its previous close of 52.96. The Reserve Bank of India seems to have intervened between the 52.80 and 53 levels, according to dealers.
At 10:00 a.m., the Nifty was at 5,215.20, down 23.95 points, or 0.46 percent. It has touched a high of 5,217.30 and a low of 5,203.55 in trade today.
The Sensex was at 17,215.06, down 86.85 points, or 0.50 percent. It has touched a high of 17,271.77 and a low of 17,194.26 in trade today.
The BSE Midcap Index was down 0.17 percent and the BSE Smallcap Index slipped 0.14 percent.
Among sectoral indices, the BSE Auto Index was down 1.51percent, the BSE Bankex declined 0.61 percent, the BSE Oil & Gas Index was 0.61 percent lower.l The BSE IT Index was up 0.22 percent and the BSE FMCG Index moved up 0.01 percent.
Hero MotoCorp posted a 20% increase in net profit to Rs 603 crore in the quarter ended March, missing analysts' estimates, as higher raw material costs damped gains from record sales of bikes and scooters. Its total turnover (net sales and other income) in the fourth quarter rose 12% to Rs 6,035 crore driven by higher volume growth as sales jumped 8% to 15.72 lakh units. The company announced a dividend of Rs 45 per share.
Hero MotoCorp (5.43%), Bajaj Auto (2.54%), Maruti Suzuki (2.09%), Axis Bank (1.60%) and Jaiprakash Associates (1.56%) are among the top Sensex losers.
Hindustan Unilever (1.67%), Cipla (1.18%), Sesa Goa (1.17%), Sterlite Industries (0.95%) and Wipro (0.89%) are the among the index gainers.
The market breadth was negative on the NSE with 499 gainers against 793 losers.
Asian markets were down on profit booking. The Hang Seng fell 0.50 percent, the Seoul Composite slipped 0.33 percent, the Taiwan Weighted edged 0.20 percent lower and the Strait Times was down 0.11 percent.
The rupee slipped below 53 per dollar, a new four-month low, as risk-averse investors continued to buy the greenback. Demand from importers also put pressure on the rupee. The rupee fell to a low of 53.18/19 per dollar against its previous close of 52.96. The Reserve Bank of India seems to have intervened between the 52.80 and 53 levels, according to dealers.
At 10:00 a.m., the Nifty was at 5,215.20, down 23.95 points, or 0.46 percent. It has touched a high of 5,217.30 and a low of 5,203.55 in trade today.
The Sensex was at 17,215.06, down 86.85 points, or 0.50 percent. It has touched a high of 17,271.77 and a low of 17,194.26 in trade today.
The BSE Midcap Index was down 0.17 percent and the BSE Smallcap Index slipped 0.14 percent.
Among sectoral indices, the BSE Auto Index was down 1.51percent, the BSE Bankex declined 0.61 percent, the BSE Oil & Gas Index was 0.61 percent lower.l The BSE IT Index was up 0.22 percent and the BSE FMCG Index moved up 0.01 percent.
Hero MotoCorp posted a 20% increase in net profit to Rs 603 crore in the quarter ended March, missing analysts' estimates, as higher raw material costs damped gains from record sales of bikes and scooters. Its total turnover (net sales and other income) in the fourth quarter rose 12% to Rs 6,035 crore driven by higher volume growth as sales jumped 8% to 15.72 lakh units. The company announced a dividend of Rs 45 per share.
Hero MotoCorp (5.43%), Bajaj Auto (2.54%), Maruti Suzuki (2.09%), Axis Bank (1.60%) and Jaiprakash Associates (1.56%) are among the top Sensex losers.
Hindustan Unilever (1.67%), Cipla (1.18%), Sesa Goa (1.17%), Sterlite Industries (0.95%) and Wipro (0.89%) are the among the index gainers.
The market breadth was negative on the NSE with 499 gainers against 793 losers.
Asian markets were down on profit booking. The Hang Seng fell 0.50 percent, the Seoul Composite slipped 0.33 percent, the Taiwan Weighted edged 0.20 percent lower and the Strait Times was down 0.11 percent.
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