Friday 24 June 2016

Opening Bell - Sensex, Nifty drop over 3% in early trade

At 9:15 AM, the S&P BSE Sensex is trading at 26,101 down 900 points, while NSE Nifty is trading at 7,988 down 282 points.


Bear Market
At 9:15 AM, the S&P BSE Sensex is trading at 26,101 down 900 points, while NSE Nifty is trading at 7,988 down 282 points.

The Indian rupee opened lower by 66 paise at 67.40/$ against US Dollar on Friday as against the previous close of 67.48/$. On the global front,the pound plunged to its lowest level since 1985 as results gave a narrow lead to the Leave campaign. The rupee Rupee weakens past 68 against US Dollar. Currently it is trading at lowest level since March.

Asian market​s​ are trading in red. Nikkei 225 and Hang Seng are down over 3% each. ​Shanghai Composite slipped 0.54%.

US stocks closed higher, led by bank shares, as Wall Street bet that Britain is voting to remain part of the European Union. The Dow Jones rose 230.24 points, or 1.29%, the S&P 500 gained 27.87 points, or 1.34%, to 2,113.32. The Nasdaq Composite added 76.72 points, or 1.59%.

Civil Aviation Minister Ashok Gajapathi Raju said, to deal with steep rise in airfares, capping would not be the answer as it would also push the floor prices at an ASSOCHAM event held in New Delhi.

Vodafone is planning to take a call on the timeline of initial public offer of its Indian arm. The company reportedly said that, “We have started IPO preparations, which includes conversations with banks, but no final decision has yet been taken as to whether or not we will IPO.”

Prime Minister Narendra Modi met President Xi Jinping of China on the sidelines of Shanghai Cooperation Organization Summit in Tashkent. President Xi welcomed India’s accession to the SCO and said it would strengthen it.

NITI Aayog CEO Kant and DIPP Secretary Abhishek to address at Traders Conference on E-Commerce & Digital Payments in New Delhi.

ONGC Petro additions Ltd (OPaL) is in talks with local and overseas petrochemical companies to sell as much as 25% in the company, according to reports.

ONGC Videsh Ltd are planning to buying a part of the $ 11 billion stake that Russia is selling in its biggest oil firm Rosneft, Petroleum Minister Dharmendra Pradhan reportedly said.

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