Equity benchmarks opened flat despite weak global cues. The Sensex fell 1.37 points to 26347.96 and the Nifty declined 0.65 points to 7863.35. About 432 shares have advanced, 530 shares declined, and 47 shares are unchanged. DLF shot up 6.62 percent, showing a smart recovery after losing nearly 30 percent in previous session due to Sebi order. Hero Motocorp and TCS gained nearly 2 percent ahead of second quarter earnings today later in the day. Tata Motors, BHEL and Tata Steel climbed over 1.5 percent. However, Hindalco, Bajaj Auto (post 29 percent fall in Q2 profit), Reliance Industries, Sesa Sterlite, Tata Power and Cairn India lost 1-2.5 percent. The Indian rupee opened marginally lower on Thursday at 61.48 per dollar compared to 61.41 a dollar in previous session. Dollar hits a three-week low against the euro and a more than one-month low against the yen post weak US economic data that heightened concerns that the federal reserve would delay its first rate hike. Mohan Shenoi of Kotak Mahindra Bank said, "Dollar weakness against global majors may not impact rupee significantly due to reduced custodial flows. The rupee is expected to trade today in a range of Rs 61.10-61.50/dollar." On the global front, Asian markets (barring Shanghai) were trading lower with the Nikkei falling over 2 percent. US stocks closed down but recovered significantly from historic intraday losses amid concerns about Europe, Ebola and the economy. Stocks lost nearly 3 percent during the day but recovered in the close. In Europe, stocks closed more than 2 percent lower as investors shunned risky assets on fears of crumbling global growth, weak economic data, and concerns about the political situation in Greece. In commodities, Brent crude continues its slump, slips below USD 84 per barrel.
Thursday 16 October 2014
Sensex, Nifty flat; TCS & Hero Moto gain; Bajaj Auto falls
Equity benchmarks opened flat despite weak global cues. The Sensex fell 1.37 points to 26347.96 and the Nifty declined 0.65 points to 7863.35. About 432 shares have advanced, 530 shares declined, and 47 shares are unchanged. DLF shot up 6.62 percent, showing a smart recovery after losing nearly 30 percent in previous session due to Sebi order. Hero Motocorp and TCS gained nearly 2 percent ahead of second quarter earnings today later in the day. Tata Motors, BHEL and Tata Steel climbed over 1.5 percent. However, Hindalco, Bajaj Auto (post 29 percent fall in Q2 profit), Reliance Industries, Sesa Sterlite, Tata Power and Cairn India lost 1-2.5 percent. The Indian rupee opened marginally lower on Thursday at 61.48 per dollar compared to 61.41 a dollar in previous session. Dollar hits a three-week low against the euro and a more than one-month low against the yen post weak US economic data that heightened concerns that the federal reserve would delay its first rate hike. Mohan Shenoi of Kotak Mahindra Bank said, "Dollar weakness against global majors may not impact rupee significantly due to reduced custodial flows. The rupee is expected to trade today in a range of Rs 61.10-61.50/dollar." On the global front, Asian markets (barring Shanghai) were trading lower with the Nikkei falling over 2 percent. US stocks closed down but recovered significantly from historic intraday losses amid concerns about Europe, Ebola and the economy. Stocks lost nearly 3 percent during the day but recovered in the close. In Europe, stocks closed more than 2 percent lower as investors shunned risky assets on fears of crumbling global growth, weak economic data, and concerns about the political situation in Greece. In commodities, Brent crude continues its slump, slips below USD 84 per barrel.
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