Sensex opens flat on weak global cues

The healthcare index rises 0.67% to be biggest gainer, while the Bankex index loses the most, falling 1.07% 

 

At 9.22am, the benchmark Sensex was trading down 0.12%, or 23.86 points, at 20,258.05 points. Photo: HT 

Mumbai: The 30-share bellwether BSE Sensex on Wednesday opened flat due to the absence of any major market trigger.

At 9.22am, the benchmark Sensex was trading down 0.12%, or 23.86 points, at 20,258.05 points, while the National Stock Exchange’s (NSE’s) broader 50-share index Nifty was trading down 0.19%, or 11.15 points, at 6,006.90 points.

The BSE healthcare index rose 0.67% to be the biggest gainer, while the Bankex index was the biggest loser, falling 1.07%.

The gainers included Sun Pharmaceutical Industries Ltd that rose 2.82% to Rs.615, while Tata Motors Ltd rose 0.99% to Rs.363.60.

Among the losers, Hindalco Industries Ltd shares lost 1.17% to Rs.109.90, while Sesa Sterlite Ltd lost 1.15% to Rs.189.80.

Asian shares sagged and the dollar wobbled as investors pondered mixed signals from US Federal Reserve officials about when the US central bank would start to pare its asset-buying stimulus.

On Wednesday, Coal India Ltd, Cipla Ltd, Oil and Natural Gas Corp. Ltd (ONGC), State Bank of India, Sun Pharmaceuticals and Tata Steel will announce their September quarter results.

Coal India Ltd Q2 net income expected at Rs.3,330 crore versus Rs.3,080 crore year ago, according to median of 16 analysts estimate.

Median of 29 analysts’ estimates shows ONGC Q2 profit at Rs.5,830 crore versus Rs.5,900 crore year ago.

State Bank of India Q2 net income estimates Rs.2,830 crore from Rs.3,660 crore year ago, according to median of 43 analysts estimate. Tata Steel Ltd Q2 group profit estimates Rs.330 crore as compare to Rs.364 crore loss year ago

On Tuesday, the government issued Index of Industrial Production (IIP) data which rose to 2% in September as against 0.4% in August, while consumer price inflation accelerated to 10.09% in October as against 9.84% in September.

 

TOUHID HUSSAIN

PGDM 2nd YEAR