Markets consolidates in the late morning
session
28/05/2014 11:40
Markets have entered into consolidation mode on the lack of buying interest from the institutional investors. Auto shares are also witnessing decline ahead of sales numbers to be released later this week.
At 11:30AM, the 30-share Sensex was up 4 points at 24,554 and the 50-share Nifty was up 12 points at 7,330. HDFC Bank was up 1.8% and Reliance Industries gained 0.9% contributing the most to the Sensex gains.
IT exporters' shares firmed up on the back of a weakening rupee and encouraging economic data from the US. Wipro was up 1.2%, TCS was up 0.9% and Infosys was up 0.6%.
Infrastrucuture shares which had corrected recently witnessed a recovery with L&T up 1% and BHEL rising 2.8%
In the auto pack, Mah & Mah and Tata Motors were down over 2.3% each ahead of their May sales numbers later this week.
Other Sensex losers include ONGC down 2% and FMCG major ITC down 0.6%.
28/05/2014 11:40
Markets have entered into consolidation mode on the lack of buying interest from the institutional investors. Auto shares are also witnessing decline ahead of sales numbers to be released later this week.
At 11:30AM, the 30-share Sensex was up 4 points at 24,554 and the 50-share Nifty was up 12 points at 7,330. HDFC Bank was up 1.8% and Reliance Industries gained 0.9% contributing the most to the Sensex gains.
IT exporters' shares firmed up on the back of a weakening rupee and encouraging economic data from the US. Wipro was up 1.2%, TCS was up 0.9% and Infosys was up 0.6%.
Infrastrucuture shares which had corrected recently witnessed a recovery with L&T up 1% and BHEL rising 2.8%
In the auto pack, Mah & Mah and Tata Motors were down over 2.3% each ahead of their May sales numbers later this week.
Other Sensex losers include ONGC down 2% and FMCG major ITC down 0.6%.
