BSE Sensex and NSE Nifty are likely to trade range-bound as investors have turned cautious and will wait for clarity in the maiden Budget of the newly-elected Narendra Modi government, due on July 10.

The market will take a close look at the U.S. non-farm payroll data, due on July 3, which will direct the short-term trend in global equities.

Shares of information technology (IT) companies rose on Friday after US-listed Accenture reported good results for the quarter ended May. Investors lapped domestic IT stocks, as Accenture’s results signalled a robust demand environment and higher order flows for Indian IT firms, brokers said. On Friday, the BSE IT index rose 2.5 per cent, the gains led by Tech Mahindra, Tata Consultancy Services HCL Technologies, each rising three-four per cent.

The BSE Sensex gains 0.36 per cent, while the Nifty is up 0.39 percent. Gains were led by value-buying in blue-chip stocks such as Oil and Natural Gas Corp after the stock fell sharply in the previous session. Oil & Natural Gas Corp (ONGC) gains 1.2 per cent after falling 5.8 per cent on Thursday.

Shares in Ranbaxy Laboratories Ltd are up 4.7 percent and Sun Pharmaceutical Industries gains 3.65 percent after the U.S. Food and Drug Administration approved the company's generic version of Novartis AG's blood pressure drug Diovan.

Sharp fall in stocks of Reliance Industries (RIL) and Oil & Natural Gas Corp (ONGC) pulled down the benchmark BSE Sensex further by 131 points in morning trade today.

The market will remain volatile today in view of the last day of futures & options (F&O) segment for June contract.

BSE Auto saw a sharp upmove on Wednesday in the last few minutes of trade after finance minister Arun Jaitley announced that the government has decided to extend the excise duty cut for the sector till December 2014.

The index rose more than 1% between 3.20 pm and 3.26 pm IST, ending with gains of 0.76%. TVS Motors (2.93%), Hero Motocorp (1.01%), Bajaj Auto (2.63%) and Maruti Suzuki (2.56%) were among the major gainers in the auto space, on a day the benchmark Sensex ended slid 0.22% at 25,313.74 points.

The benchmark BSE Sensex rose about 59 points in early trade today on increased buying by funds and retail investors amid a mixed trend in other Asian markets.

The 30-share index moved up by 58.90 points, or 0.23 per cent, to 25,427.80 with stocks of power, metals, IT, PSUs, capital goods and realty sectors, leading the gains.

MUMBAI: Refiner Essar Oil Ltd on Monday said its board had approved delisting of shares from the BSE Ltd and National Stock Exchange of India Ltd.

Essar Oil, a unit of the diversified Essar Group, said its board met on Sunday to decide on the proposal.

The benchmark BSE Sensex dipped below the 25,000 mark for the first time since June 5 by losing nearly 210 points during midsession on sellng by funds by retail investors on weak global cues amid concerns over rising crude prices on continued violence in Iraq.

Benchmarks BSE Sensex and NSE Nifty today extended losses for the third day and ended at two-week lows dragged down by Mahindra and Mahindra, Tata Power and ICICI Bank shares as caution prevailed over the growing unrest in Iraq choking oil supplies and a weak monsoon stunting economic revival.

The S&P BSE benchmark Sensex slipped another 96.29 points, or 0.38 per cent, to end at 25,105.51 and the NSE 50-share Nifty moved down by 29.25 points, or 0.39 per cent, to finish at 7,511.45, its lowest close since June 5.

The fair value of the shares of Asia’s oldest stock exchange is up 17.49% over the last year, even as earnings rose on lower expenses.

It has risen from Rs 139.06 to Rs 163.39 per share, according to a notice on the BSE website. The fair value is disseminated by the exchange to help brokers holding the shares to calculate their networth.

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