At 9:42 am, Sensex was up 49 points or 0.06 per cent at 78,103 and Nifty was at 23,709, down 11 points or 0.05 per cent.
Nifty Midcap 100 index fell 75 points or 0.13 per cent to 55,294 and Nifty Smallcap 100 index rose 41 points or 0.23 per cent to 18,284.
UltraTech Cement, ICICI Bank, L&T, Tata Motors, NTPC, Kotak Mahindra and TCS are the top gainers. M&M, Tata Steel, HDFC Bank, JSW Steel and Sun Pharma are the top losers.
Among sectoral indices, Auto, PSU Bank, Pharma, Fin Services, FMCG and Realty are major laggards. IT, energy, media and commodity indices were among the major gainers.
According to experts, “The 16 percent credit growth in the economy and the improvement in asset quality of these stocks is a good sign for them.” The modest pressure on margins due to slow deposit growth and high cost of deposits is unlikely to have a significant impact on profits. "From a valuation perspective, PSU banks now offer a buying opportunity."
"Financials, oil and gas, capital goods, automobile, select pharma and telecom will post good results in Q1. FMCG and IT will post weak numbers as expected," he said.
There is a bullish trend in most of the markets of Asia. Tokyo, Hong Kong, Bangkok, Seoul and Jakarta are in green. However, the Shanghai market is in the red. On Tuesday, American markets closed with mixed sentiment. Crude oil benchmark Brent crude is at $84.64 per barrel and WTI crude at $81.25 per barrel.
Nifty Midcap 100 index fell 75 points or 0.13 per cent to 55,294 and Nifty Smallcap 100 index rose 41 points or 0.23 per cent to 18,284.
UltraTech Cement, ICICI Bank, L&T, Tata Motors, NTPC, Kotak Mahindra and TCS are the top gainers. M&M, Tata Steel, HDFC Bank, JSW Steel and Sun Pharma are the top losers.
Among sectoral indices, Auto, PSU Bank, Pharma, Fin Services, FMCG and Realty are major laggards. IT, energy, media and commodity indices were among the major gainers.
According to experts, “The 16 percent credit growth in the economy and the improvement in asset quality of these stocks is a good sign for them.” The modest pressure on margins due to slow deposit growth and high cost of deposits is unlikely to have a significant impact on profits. "From a valuation perspective, PSU banks now offer a buying opportunity."
"Financials, oil and gas, capital goods, automobile, select pharma and telecom will post good results in Q1. FMCG and IT will post weak numbers as expected," he said.
There is a bullish trend in most of the markets of Asia. Tokyo, Hong Kong, Bangkok, Seoul and Jakarta are in green. However, the Shanghai market is in the red. On Tuesday, American markets closed with mixed sentiment. Crude oil benchmark Brent crude is at $84.64 per barrel and WTI crude at $81.25 per barrel.
