Thursday 11 December 2014

Nifty below 8,300 levels

Indian equity markets opened on a weak note and was lower by nearly 200 points.
 The S&P BSE Sensex is trading at 27,597 down 233 points, while NSE Nifty is trading at 8.288 down 67 points.
The BSE Mid-cap Index and BSE Small-cap Index was trading flat.
Consumer Durables indices is only the gainer, Auto, Power, banking, capital goods, FMCG, Oil and gas, healthcare metal, Realty indices are losers.
Bharti Airtel, Sun Pharma, HDFC, Tata Steel, M&M are among the gainers, whereas GAIL, Tata Motors, DRREDDY, Infosys, BHEL are losing sheen on BSE.
The Dow fell 1.51% while S&P 500 shed 1.64%. Nasdaq is down 1.73%. Asian shares are mixed. Japan's Nikkei 225 index and Hong Kong's Hang Seng index were lower while China's Shanghai index was trading higher.
Stocks like Jet Airways are soaring high in turbulent weather even as SpiceJet is struggling for a safe landing.
The Union Cabinet, chaired by the Prime Minister Narendra Modi, today approved the various amendments to the Electricity Act, 2003 as per the proposed Electricity (Amendment) Bill, 2014. 
The cabinet approved plans to raise about Rs1.6 trn by selling some of its stakes in state-run banks by 2019, a government reportedly said.
The Reserve Bank of India (RBI) is planning come out with guidelines on refinance of existing projects as demanded by the industry, deputy governor S S Mundra reportedly said.
Shares of Spicejet Ltd was up 1% at Rs16 on reports that the airline started offering cut-price fares on some sectors. 
Sugar stocks rallied up to 13% after report said that the government fixes a price of Rs 48.50-49.50 per litre for procurement of ethanol for blending with petrol.

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