Thursday, 20 October 2016

Opening Bell - Sensex, Nifty flat in early trade

The S&P BSE Sensex is trading at 28,112 up 61 points, while NSE Nifty is trading at 8,697 up 19 points.

Share Market Services  | NSE & BSE Market Tips

The S&P BSE Sensex is trading at 28,112 up 61 points, while NSE Nifty is trading at 8,697 up 19 points.

The rupee opened higher by four paise at 66.68/$ as against the previous close of 66.72/$.

Commodity market tips 

A four-slab structure with two standard goods and services tax (GST) rates of 12% and 18% was proposed at the GST Council meeting on Tuesday. Expect action in sectors impacted by this move.

A clearance of stake sale by the government in around 20 entities is expected to be announced today. Buzz of MSCI rebalancing will also have an impact on stocks which are likely to be included and excluded. Endurance Technologies gets listed today. Oil futures rose after reports of a decline in U.S. crude supplies for the week ended Oct. 14.

Asian markets to open flat after a superb rally yesterday which saw indices stage a sharp comeback. Strength in the US$ could see collateral selling in Japanese stocks as the "yen hits 103 to the US$. The undertone however seems to be bullish with the Brazilian 'Bovespa" index leading from the front & hitting new 52 week highs. The commodity/energy led index is seeing huge out-performance in the emerging market basket of indices & which yesterday saw China & India also comeback strongly. All eyes were on the Chinese gross domestic product (GDP) report.

Wall Street closed higher on Tuesday. The Dow Jones industrial average rose 75.54 points to 18,161.94, the S&P 500 gained 13.1 points to 2,139.6 and the Nasdaq Composite added 44.01 points to 5,243.84. The S&P 500 posted 4 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 47 new highs and 60 new lows.

PNB Housing Finance, the subsidiary of Punjab National Bank,  announced that its Rs 3,000-crore initial public offering will open for subscription on October 25. The price band is fixed at Rs 750-775 per share.

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OPENING BELL SENSEX UP 85.05 @ 38692.06 NIFTY UP 16.15 @ 11612.85 BANKNIFTY DOWN 5.55 @ 29780.55 USD/INR 69.072 ...