Markets lose some gains on profit taking

The Indian markets are continuing to trade in the positive territory, but have lost some gains on the back of profit taking in the Financial and FMCG stocks. Both Sensex and Nifty are trading with gains of 0.45% each.

Other Asian markets continue to trade on a mixed note. The Hang Seng is up with marginal gains of 0.34%, while Nikkei is down by 0.09%. The US Federal Reserve's decision to keep the interest rate unchanged provided some support to the investors, who are hoping the move will help the US economy to keep the growth in an upward direction.

The European markets opened with the negative note extending, and the major European indices were down by nearly 0.54% each.

Back home, most of the BSE sectoral indices are trading positively with gains between 0.04%-2.42%. Oil & Gas, CD and Metals are leading with gains of 2.42%, 2.19% and 2% respectively. On the other hand, Realty, Bankex, FMCG and CG are down by 1.85%, 0.79%, 0.58% and 0.10% respectively.

Among the Sensex shares, Bharti Airtel, GAIL India, RIL, Tata Motors and Tata Steel are leading the index with gains between 2.14%-4%. Bajaj Auto, BHEL, DLF, Hero MotoCorp and Jindal Steel are leading the losers tally, all down between 1.17%-3.23%.

The market breadth, which indicates the overall health of the market, is positive. On the BSE, 1633 shares rose, 1043 shares fell and 101 shares remained unchanged.

We expect the markets to remain volatile for the rest of the day.