Sensex rangebound ahead of September IIP data; Nifty below 6100

NEW DELHI: The S&P BSE sensex pared most of its early morning gains but was still trading with positive bias on Tuesday ahead of September IIP data which will be out post market hours later today.

Production at factories, mines and utilities in India likely rose 3.6 per cent annually in September, much faster than August's 0.6 per cent growth, according to ET Now Poll.

However, good factory growth in September would be welcome news for Asia's third largest economy but momentum is unlikely to sustain.

October CPI inflations is likely to come in double digits at 10 per cent as compared to 9.84 per cent reported in September. However, most economists expect RB to hike repo rates by 25bps in coming months.


At 10:20 a.m.; the 50-share index was at 6093, up 14 points or 0.24 per cent. It touched a high of 6,108.70 and a low of 6,078.40 in trade today.

The S&P BSE Sensex was trading at 20,526, up 28 points or 0.18 per cent. It touched a high of 20,584.22 and a low of 20,485.74 in trade today.

The S&P BSE Midcap Index was up 0.69 per cent and BSE S&P Smallcap Index edged higher by 0.56 per cent.

Among the sectoral indices, the BSE Metal Index was down 0.96 per cent, followed by the S&P BSE Auto Index which dropped 0.49 per cent and the BSE PSU index was trading 0.15 per cent lower.

The BSE Realty index was trading 1.9 per cent higher, followed by the BSE FMCG index which was up 0.7 per cent, BSE Banking index was trading 0.6 per cent higher and the BSE IT index was up 0.5 per cent.

Hindalco (1.8 per cent), Wipro (1.3 per cent), Maruti suzuki 0.97% (1.03 per cent), ITC (0.8 per cent) and HDFC Bank 0.08%  (0.75 per cent) were among the major Sensex gainers.

Tata Motors 0.43% (1.9 per cent), Sesa Sterlite (2.2 per cent), JSPL (1.1 per cent), Bharti Airtel 0.02 % (0.7 per cent) and Coal India (1.07 per cent) were among the index losers. 

Rahul kumar gupta
PGDM,1st Year..