Among the sectoral indices, BSE IT index was the top loser, down 0.6%
India’s benchmark Sensex was trading marginally lower, led by losses in shares of information technologies companies.
The government will release Wholesale Price Index (WPI) data on 14 January after 12.30pm. A Bloomberg poll expects wholesale prices will rise by 0.4% in December compared with zero in November.
At 9.35am, the 30-share Sensex on BSE was down by 0.09%, or 24.79 points, at 27,560.48, while the 50-share Nifty of the National Stock Exchange was up 0.04%, or 3.20 points, at 8,326.20.
Among the gainers, Hindalco Industries Ltd rose 1.8% to Rs.153.75 while Dr Reddy’s Laboratories Ltd gained 1.1% to Rs.3,236.
Among the losers, Oil and Natural Gas Corp. Ltd (ONGC) fell 1.5% to Rs.342.80 while Infosys Ltd declined 1.3% to Rs.2,084.75.
Among the sectoral indices, BSE FMCG index was the top sectoral gainer, up 0.8% followed by BSE healthcare index, which was up 0.7%. BSE capital goods and power indices were up 0.4% each. The BSE IT Index was the top sectoral loser, down 0.6% followed by BSE Teck and oil and gas indices which were down 0.3% each.
Jet Airways India Ltd rose 5.2% to Rs.464.60 on the anticipation that the government may cut jet fuel prices after the international crude oil prices fell to more than five-year low.
Clariant Chemicals India Ltd fell 3.4% to Rs.1,045.60 after the company announced an interim dividend of Rs.140 a share for the year to March.
Indusind Bank Ltd rose 1.2% to Rs.841.60 ahead of its December quarter earnings later on Tuesday. According to 19 analysts polled by Bloomberg, the bank likely to post net profit of Rs.446 crore.
Crompton Greaves Ltd rose 1.6% to Rs.193 after Mint reported the firm and Arelis of France have agreed to jointly manufacture electronic components for the aerospace and defence sector.
Data released on Monday showed industrial production rose by 3.8% in November compared with a 4.2% contraction in the previous month while consumer prices accelerated at a slower-than-expected pace of 5% in December compared with the median 5.3% forecast of analysts surveyed by Bloomberg.
Prices of crude oil fell to the lowest level in more than five years after Goldman Sachs Group Inc. and Societe Generale SA reduced their price forecasts and Venezuela called on the Organization of Petroleum Exporting Countries (Opec) producers to work together to spur a rebound.
So far in 2015, the Sensex has gained 0.4%, while foreign institutional investors have sold $ 394.3 million from local equity markets and bought $ 514.1 million from the debt market.
In Asia, markets were trading mixed following weak cues from Wall Street as oil prices slipped below $ 50 per barrel after Goldman Sachs Group cut its crude outlook, predicting prices will remain low for a lengthy period. China’s Shanghai Composite was up 0.4%, while Hong Kong’s Hang Seng was up 0.5% and Japan’s Nikkei Stock Average was trading lower by 1.7%.
Overnight US markets started the week on a cautious note as the slide in oil prices showed no sign of abating and investors turned jittery ahead of the December quarter earnings, Financial Times reported. Nasdaq Composite and S&P 500 declined 0.8% each and Dow Jones Industrial Average was down 0.5%.
Copyright © HT Media Ltd. Provided by SyndiGate Media Inc. (Syndigate.info).