Benchmark Indices Trading In Red

The benchmark indices Sensex and Nifty are trading range-bound but at every higher level there is some amount of profit booking taking place which does not allow indices to go northwards. In today's trade Sensex slipped by 19 points, down by 0.09% while Nifty declined by 7 points, down by 0.10%. The markets declined as the IIP data came in much below the estimates. The June IIP data was down by 3.4% against 5% on monthly basis, whereas the July CPI data came in at 7.96% against 7.46% on monthly basis.

BSE mid-cap and small-cap were also seen trading in red, down by 2.07% and 2.52% respectively. Among the sectoral indices FMCG and Healthcare indices were only indices that were seen trading in green. Whereas banking, power and realty slipped by 1.19%, 2.94% and 5.12% respectively. This was primarily due to jump in the CPI by 7.96% in July against 7.46% in June. 

Eicher Motors is the top gainer on Sensex, up by 7.51% after reporting strong sales. Other notable gainers include Apollo Hospital, Piramal and HCL Tech. Whereas JP associates was down by 10.26% after reporting net loss of Rs 80.6 crore for the quarter ended June 2014. 

Further, a firming trend was seen in the Asian markets. The market was seen trading in positive. Japan's Nikkei was up by 0.35%, Hong Kong's Hang Seng was up by 0.81% while China's Shangai was up by 0.6% due to easing of geo-political tension.