Weakness in auto shares and banks are offset by gains in select heavyweights coupled by a firm rally in FMCG stocks.
The markets are shut tomorrow on the account of Dr Baba Saheb Ambedkar Jayanti.
Consumer inflation may edge up in March for the fourth straight month from a record low in November, as heavy rains drove up food prices, giving the central bank pause for thought as it waits for the next chance to cut interest rates.
Consumer prices may likely rise upto 5.5% in March from a year earlier compared with February’s 5.37%, according to a Reuters’ poll of economists.
The rupee fell by 5 paise to 62.36 against the US dollar in early trade today at the Interbank Foreign Exchange on rising demand for the American currency from importers.
Crude oil prices rose marginally on Monday as financial traders increased their bets on higher prices amid a slowdown in US drilling, but analysts warned fundamentals remained weak.
State Bank of India announced a cut in home loan interest rate by up to 0.25 per cent for new borrowers. The stock is down over 0.6%.
State-owned Oil and Natural Gas Corp’s acquisition of 10 per cent stake in a giant Mozambique gas field had helped the seller make a neat profit of $ 1.5 billion or over 62 per cent of the purchase price. The stock is up 0.5%.
IMaruti Suzuki aims to again outpace the local market in the new financial year with double-digit sales growth. The stock is down 0.4%.
Finance ministry official says further share sale in Coal India not ruled out. The stock is 0.5% down.
The broader markets continue to outperform the large counterparts. BSE Midcap and Smallcap indices are up between 0.5-1.3%.
The market breadth is firm on the BSE with 1,570 advances versus 829 declines.