Domestic markets continue to trade range bound with negative bias lacking any triggers, though the rate sensitive's are showing some wilt after the weekly inflation surged 9.01% and the fuel price index climbed 12.46% in the year to May 28 compared to 8.06% and 12.54% respectively in the previous week. The sharp rise in food inflation has raised the apprehension of central bank going for another interest rates hike. However, the global cues too are putting pressure on the domestic markets and some of the regional indices are trading lower by over a percent. Some support to the market is coming from consumer durables, capital goods and power sector, while the broader indices too are trying hard to enter the green. Fertilizers stocks too are keeping their spirit up after the panel of secretaries chaired by Planning Commission member Saumitra Chaudhuri has advised the government to immediately increase the price of urea by 10% and to totally decontrol the commodity's price from the 2012-13 fiscal. Tata Chemicals was up by 0.23%, National Fertilizers was up by 0.69%, RCF was up by 0.73% and CoroMandel was up by 0.10%.
The BSE Sensex is currently trading at 18,346.81, down by 47.48 points or 0.26%. The index has touched a high and low of 18,449.64 and 18,341.29 respectively. There were 9 stocks advancing against 20 declines on the index, while 1 stock remained unchanged.
Most of the broader indices were trading in green; the BSE Mid cap and Small cap indices were up by 0.02% and 0.03% respectively.
The only gaining sectoral indices on the BSE were, CD up by 0.66%, CG was up by 0.53% and Power up by 0.13%. While, Auto down by 0.97%, Realty down by 0.48%, Bankex down by 0.47%, Healthcare down by 0.44% and Metal down by 0.27% were the major losers on the index.
The top gainers on the Sensex were NTPC up by 1.23%, TCS up by 0.81%, L&T up by 0.77%, BHEL up by 0.61% and RIL up by 0.50%.
On the flip side, Tata Motors down by 1.91%, SBI down by 1.58%, RCom down by 1.54%, Hero Honda down by 1.34% and JP Associate down by 1.25% were the top losers on the index.
Meanwhile, Bajaj Auto and Kawasaki introduced its pro biking offering Ninja 650R sports bike. This bike will be sold and serviced exclusively through Bajaj Probiking, one of the largest dealership networks for premium motorcycles in the country.
The motorcycle, priced at Rs 4.57 lakh (ex-showroom price in Delhi), is equipped with ample power (72 PS), serious torque (66 Nm), perfect ergonomics, nimble handling and super sport styling. Apart from its inimitable road presence and performance, the Ninja 650R comes with a host of other features such as triple petal disc brakes, daylight running lights with hazard indicators, underslung exhaust and a twin cylinder engine tuned for 91 Octane fuel that makes it best suited for India and its diverse riding conditions.
These bikes will be available through Bajaj Probiking showrooms in 30 cities. The Kawasaki Ninja 650R will be backed with Probiking service capabilities and spare parts availability.
The S&P CNX Nifty is currently trading at 5,507.35, down by 19.50 points or 0.35%. The index has touched a high and low of 5,538.60 and 5,504.80 respectively. There were 9 stocks advancing against 41 declines on the index.
The top gainers of the Nifty were SAIL up by 1.32%, NTPC up by 0.97%, L&T up by 0.73%, BHEL up by 0.67% and TCS up by 0.47%.
Tata Motors down by 2.07%, BPCL down by 1.98%, HCL Tech down by 1.85%, SBI down by 1.70% and JP Associate down by 1.61% were the major losers on the index.
Most of the Asian equity indices were trading in the red; Shanghai Composite declined 0.90%, Hang Seng plunged 0.91%, Jakarta Composite dropped 0.37%, Taiwan Weighted shed 0.07% and Seoul Composite trimmed 0.30%.
On the flip side, KLSE Composite added 0.10%, Nikkei 225 advanced 0.15% and Straits Times up by 0.01%
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