Thursday, 1 December 2016

Live Stock Market Updates - Nifty holds 8,200 mark; Realty, Banking stocks drag

The BSE Mid-cap Index is trading down 0.36% at 12,453, whereas BSE Small-cap Index is trading down 0.04% at 12,325. Some buying activity is seen in pharma, oil & gas and utilities, while telecom, consumer durables, metal and power are showing weakness on BSE.

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The Indian stock market climbed for a fifth straight session as gains in energy producers countered losses in automakers and tech companies. The domestic market pared their opening gains as investors booked profit after Nifty’s longest winning streak in nearly six months.

Commodity market tips

The S&P BSE Sensex is trading at 26,644 down nine points, while NSE Nifty is trading at 8,215 down 10 points. A total of 17 stocks registered a fresh 52-week high in trade today, while seven stocks touched a new 52-week low on the NSE.

The BSE Mid-cap Index is trading down 0.36% at 12,453, whereas BSE Small-cap Index is trading down 0.04% at 12,325.

Some buying activity is seen in pharma, oil & gas and utilities, while telecom, consumer durables, metal and power are showing weakness on BSE.

Commodity market tips

GAIL, ONGC, RIL, Lupin and HDFC are among the gainers, whereas Asian Paints, Tata Motors, Power Grid, Bharti Airtel and Adani Ports are losing sheen on BSE.

The INDIA VIX is down % at 16.5100. Out of 1,869 stocks traded on the NSE, 825 declined, 650 advanced and 394 remained unchanged today.

The Indian rupee opened lower by 10 paise at 68.48/$ against the previous close of 68.37/$.

The landmark decision by the Organization of the Petroleum Exporting Countries to cut production has fueled a sharp rally in oil prices, which rose almost 10% to skyrocket near the $50 a barrel mark.

OPEC’s collective output will now reduce by 1.2 million barrels a day. The last time a cut was implemented was way back in January 2009 and non-OPEC members like Russia have also joined in the output reduction.

Banking stocks are regaining momentum. At the macro level, the second quarter of this fiscal year saw GDP growth at 7.3% (yoy), higher than the reading of 7.1% during the prior quarter. Lower interest rates are yet to translate into any meaningful shift in the private investment cycle.

Meanwhile, India's infrastructure output accelerated to its fastest growth in half a year rising 6.6pc yoy in October. Later in the day, data is awaited on auto sales numbers, India manufacturing PMI, EU unemployment, US jobless claims and manufacturing PMI.

Asian markets opened in the green with the Japanese 'Nikkei" leading from the front as US/Yen hit 114.5 the highest in the last 10 months. This saw Japanese exporters lead gains along with commodity stocks from other Asian indices. The Dow Jones hit new intra session highs but gave up gains on profit booking near the close.



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1 comment:

  1. Eicher Motors commercial vehicle sales for Nov 2016 down by 13% YoY to 3176 units; broadly in line with estimates.
    Capitalstars

    ReplyDelete

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