Sensex gains 130 pts, Nifty tests 24,600; Metal, Auto index up 1%

Following a positive start, Indian equity benchmark indices pared early gains and were trading almost flat amid mixed gloabl cues. Investors kept a close watch on Q1 results, along with the Reserve Bank of India (RBI) Monetary Policy Committee meet (MPC) scheduled from August 4 to August 6.

The six-member MPC of the RBI is expected to maintain the status quo at its threeday meeting starting August 4, 60 per cent of the respondents said in a Business Standard poll. READ MORE

At 10 AM, the BSE Sensex was trading 58 points or 0.07 per cent higher at 80,657.87 and the NSE Nifty50 quoted 24,607.15, up 41.8 points or 0.17 per cent.

Tata Steel, BEL, Bajaj Finserv, Asian Paints and UltraTech Cements were among the top gainers on Sensex. Conversely, Infosys, Eternal (Zomato), Tech M, and ICICI Bank were among the top laggards.

In the broader markets, the Nifty MidCap100 and SmallCap indices edged higher by 0.21 per cent and 0.12 per cent, respectively.

Sectorally, among others Nifty PSU Bank was up 0.52 per cent, Nifty Metal was up 0.44 per cent and Nifty Auto was up 0.42 per cent. On the other hand, Nifty IT was down 0.34 per cent.

Q1 results today

Shree Cement, Aurobindo Pharma, DLF, Escorts Kubota, Aditya Birla Capital, Marico, Ather Energy, Bosch, Delta Corp, Siemens Energy India, Godfrey Phillips India, INOX India, Kansai Nerolac Paints, Sona BLW Precision Forgings, Sun Pharma Advanced Research Company, TBO TEK, Triveni Turbine, and Unichem Laboratories will release their quarterly earnings on August 4.

Meanwhile, ITC, Tata Power, ABB India, Federal Bank, LIC Housing Finance, MCX, PC Jewellers and others will be in focus after releasing their earnings post market hours on Friday and over the weekend.

IPOs today

The basis of allotment of National Securities Depository Ltd. initial public offer (IPO), M&B Engineering Ltd. IPO and Sri Lotus Developers & Realty Ltd. IPO will be finalised today.

On the SME front, Bhadora Industries Ltd. IPO, Parth Electricals & Engineering Ltd. IPO, Jyoti Global Plast Ltd. IPO, Aaradhya Disposal Industries Ltd. IPO, BLT Logistics Ltd. IPO and Essex Marine Ltd. IPO will open for subscription.

Cash Ur Drive Marketing Ltd. IPO, and Renol Polychem Ltd. IPO will close for applications. Meanwhile, basis of allotment for B.D.Industries (Pune) Ltd. IPO, Mehul Colours Ltd. IPO and Takyon Networks Ltd. IPO will be finalised.