The News International Team
10: 30 am: Meanwhile, the market has given back all its gains and has slipped mildly into the red.
As of this writing, the Sensex is down 0.1 percent to 28,136 while the Nifty is off 0.15 percent to 8,413.
10:00 am: The frontline market has given back a major part of its opening gains, even as, predictably, the action continues in the broader market.
The BSE Sensex was up 0.08 percent, or 21 points, to 28,188 while the NSE Nifty had gained 0.04 percent, or 3 points, to 8,429.
Overall, sugar and consumer durables have risen the most with 1.94 percent and 1.44 percent gains, respectively, followed by metals, autos, capital goods and chemicals, all up about 0.5 percent.
While banks, oil & gas, IT and pharma were mildly down to flat in trade.
Among the frontliners, Hindalco, BPCL, Tata Power and JSPL are up the most, with a 1.6 percent to 2.7 percent rises while Sun Pharma, GAIL, Cairn and Tata Motors were among the decliners, with a 0.9 percent to 1.1 percent loss.
In news-driven stocks, Aurobindo Pharma is down 1.6 percent, after there were reports its chairman had been shot at this morning by unidentified attackers in Hyderabad.
In other news, RBI governor Raghuram Rajan has said that the central bank was committed to focusing on creating “sustainable growth” for the economy, perhaps hinting that a rate cut is not on at the December monetary policy meeting – despite pressures from everyone Arun Jaitley down. The RBI chief has gone on record several times in the past stating that inflation must be brought under firm control in order to create “sustainable growth”.
And for traders who are bored with not much action happening in the market, here’s quick read on how greed, fear and intertia drive stocks . The analysis comes from former Federal Reserve chief Alan Greenspan.