Sensex Flat Around 51,250 Amid Choppy Trading; Steel Stocks Witness Buying



Sensex Gains Around 150 Points, ITC Trades Flat Ahead Of Q3 Earnings

ITC has edged lower by 0.2 per cent ahead of its Q3 results scheduled later in the day

The benchmark indices are trading in positive territory amid bouts of choppiness as markets continue to consolidate for the third consecutive trading session, post the Budget rally. The BSE Sensex is trading at 51,447.15, higher by 138.55 points or 0.27 per cent and the NSE Nifty is at 15,149.50, up 43 points or 0.23 per cent. The broader markets are outperforming their largecap peers, with the BSE Midcap index and BSE Smallcap index gaining 0.5 per cent and 0.9 per cent respectively.

Meanwhile, the rupee opened on a flat note against the US dollar on Thursday. At the interbank forex market, the rupee opened at 72.81 against the US dollar, registering a rise of 3 paise over its previous close. On Wednesday, the rupee had settled at 72.84 against the US currency.

On the stock-specific front, Eicher Motors has shed more than 5 per cent to top the loser’s list on the BSE a day after its Q3 numbers. The auto major had posted a 7 per cent rise in net profit at Rs 532.6 crore in the third quarter of the current financial year compared to Rs 498.70 crore in the year-ago period. The company’s revenue from operations rose 19.3 per cent year-on-year to Rs 2,828.3 crore.

JSW Steel, ICICI Bank and Tata Motors have lost around a per cent each. And ITC has edged lower by 0.2 per cent at Rs 227 ahead of its Q3 results scheduled later in the day.


On the other hand, steel stocks are witnessing buying interest. Tata Steel and Hindalco have bucked the weak trend to gain around a per cent each on the BSE.  Adani Ports and Cipla are among the other significant gainers. And Reliance Industries has gained 2.8 per cent at Rs 2,030 on the BSE.

The BSE market breadth is strong. Out of 2,045 stocks traded on the BSE, there were 1,273 advancing stocks as against 677 declines.


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