The key domestic benchmark indices were trading near the flat line in rangebound trade in the morning trading session tracking weakness globally as heightened investor caution ahead of the US Presidential elections curbed risk taking appetite.
Some support came later with a survey of Federation of Indian Chambers of Commerce and Industry (Ficci), which said that India Inc believes the economy is faring better and is optimistic about demand rising.
Shares of Ambuja Cements, EIH, ICRA and Whirlpool of India will remain in focus as these companies reveal their September quarter earnings. Investors will also eye the India Services PMI for the month of October which will offer further cues over the health of Asia’s third biggest economy.
At 10:20 AM, the Bombay Stock Exchange bellwether Sensex was at 27561.6 up by 34.38 points or by 0.12 per cent, while the NSE Nifty was at 8531.75 points, trading higher by 17.75 points or by 0.21 per cent.
The BSE Sensex touched an intraday high of 27578.88 and an intraday low of 27446.31 while the NSE Nifty touched an intraday high of 8532.05 and an intraday low of 8489.6.
The top gainers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 418.60,+1.20 per cent), ICICI Bank Ltd. (Rs. 275.10,+1.20 per cent), GAIL (India) Ltd. (Rs. 432.40,+0.84 per cent), Hero MotoCorp Ltd. (Rs. 3348.45,+0.73 per cent), Hindustan Unilever Ltd. (Rs. 847.00,+0.66 per cent), among others.
Meanwhile, Oil And Natural Gas Corporation Ltd. (Rs. 269.55,-2.81 per cent), Asian Paints Ltd. (Rs. 1052.90,-0.86 per cent), Infosys Ltd. (Rs. 973.50,-0.77 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 709.95,-0.66 per cent), NTPC Ltd. (Rs. 155.20,-0.58 per cent), were among the top losers on BSE.
The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2351 shares traded, 1700 shares advanced, 572 shares declined while 79 were unchanged.
On the global front, Asian stocks were trading lower today as traders weighed reduced odds of Democrat Hillary Clinton’s victory in the upcoming November 8, 2016 US Presidential elections following the reopening of an FBI investigation into the use of an unauthorized e-mail server, making investors nervous. US stocks closed lower in the previous trading session as tumbling crude prices and investor anxiety surrounding the US elections overshadowed the Fed’s decision to keep interest rates on hold.