Benchmarks continue to trade flat in early noon session

Indian equity markets continued to trade cautiously with a cut of quarter percent ahead of RBI’s policy review tomorrow amid fund outflows by foreign investors and weakness in other Asian markets, as investors await US jobs data. The broader markets are however, outperforming the benchmark indices BSE Midcap and Smallcap indices were trading up by 0.32% and 0.67% respectively. Traders were seen piling up positions in Realty, Consumer Durables, Bankex and FMCG stocks, while selling was witnessed in Metal, IT, TECK, Auto and Capital Goods sector stocks. In scrip specific development, share of Dr Reddy’s Laboratories was trading up by over 5% after the drug maker announced the launch of Esomeprazole Magnesium Delayed-release capsules, which is the generic version of AstraZeneca's Nexium, in the US market.

The BSE Sensex is currently trading at 25807.75, down by 55.75 points or 0.22% after trading in a range of 25738.54 and 25936.89. There were 11 stocks advancing against 19 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.32%, while Small cap index gained 0.67%.

The top gaining sectoral indices on the BSE were Realty up by 1.98%, Consumer Durables up by 1.35%, Bankex up by 0.70%, FMCG up by 0.26%, while Metal down by 1.61%, IT down by 0.56%, TECK down by 0.54%, Auto down by 0.49%, Capital Goods down by 0.47% were the losing indices on BSE.

The top gainers on the Sensex were Dr. Reddys Lab up by 5.40%, Lupin up by 2.64%, Hindustan Unilever up by 1.47%, SBI up by 1.40% and TCS up by 1.21%. On the flip side, Coal India down by 2.73%, Sun Pharma Inds. down by 2.42%, Vedanta down by 2.20%, Tata Motors down by 2.19% and Infosys down by 2.17% were the top losers.

Meanwhile, foreign Investment Promotion Board (FIPB) will be taking 31 Foreign Direct Investment (FDI) proposals, in its meeting which will be held on September 29, under the chairmanship of Secretary (Economic Affairs) Shaktikanta Das. The proposal includes those of Cipla, Aditya Birla Nuvo and HDFC Capital Advisors. Among others, the board in its meeting will also take up FDI proposals of Sun Pharma Advanced Research Company, Strides Arcolab, Multi Screen Media, Reliance Globalcom, Aegon Religare Life lnsurance and Apollo Hospitals Enterprise.

According to the data of Department of Industrial Policy and Promotion (DIPP), FDI inflows in August have registered an increase of 74% as compared to that of same period last fiscal. During 2014-15 fiscal, FDI grew 27 percent year-on- year to $30.93 billion compared to that of $24.29 billion in 2013-14. India allows FDI in most of the sectors through automatic route but in certain segments considered sensitive for the economy and security the proposals have to be first cleared by FIPB.

Recently, FIPB had cleared 11 FDI proposals including that of Shyam Sistema, Teleservices, IIFL holdings, Eros International Media, Indian Rotocraft, AGS Transcat Technologies and O Zone Networks.

The CNX Nifty is currently trading at 7858.05, down by 10.45 points or 0.13% after trading in a range of 7831.35 and 7893.95. There were 26 stocks advancing against 24 stocks declining on the index.

The top gainers on Nifty were Dr. Reddys Lab up by 5.48%, Idea Cellular up by 3.27%, Adani Ports &Special up by 2.68%, Lupin up by 2.59% and Yes Bank up by 2.25%. On the flip side, Cairn India down by 2.93%, Coal India down by 2.67%, Ultratech Cement down by 2.64%, Sun Pharma Inds. down by 2.51% and Vedanta down by 2.46% were the top losers.

Asian markets were trading mostly in red; Nikkei 225 decreased 268.85 points or 1.5% to 17,611.66, Jakarta Composite decreased 68.26 points or 1.62% to 4,141.18, Straits Times decreased 40.81 points or 1.44% to 2,791.83, Shanghai Composite decreased 17.68 points or 0.57% to 3,074.67, FTSE Bursa Malaysia KLCI decreased 5.98 points or 0.37% to 1,609.03 and KOSPI Index decreased 4.25 points or 0.22% to 1,942.85.