Wednesday, 24 August 2016

Live Stock Market Updates - Nifty hovers around 8,650 mark

At 9:31 AM, the S&P BSE Sensex is trading at 28,013 up 23 points, while NSE Nifty is trading at 8,634 up mere two points.

The BSE Mid-cap Index is trading up 0.43% at 13,001 whereas BSE Small-cap Index is trading up 0.25% at 12,465.

Maruti Suzuki, Infosys, ONGC, NTPC, Cipla, RIL and Bajaj Auto are among the gainers, whereas Lupin, Bharti Airtel, HUL, ITC, TCS and Coal India are losing sheen on BSE.

Some buying activity is seen in oil & gas, pharma, IT, energy and teck sectors, while telecom, banking, capital goods, metal and finance are showing weakness on BSE.

The INDIA VIX is down 1.02% at 13.7550. Out of 1,826 stocks traded on the NSE, 512 declined, 848 advanced and 466 remained unchanged today.

A total of 31 stocks registered a fresh 52-week high in trades today, while nine stocks touched a new 52-week low on the NSE.

The rupee opened lower by eight paise at 67.14/$ against US Dollar Tuesday as against the previous close of 67.06/$.

Asian markets are trading mixed. Nikkei 225 is trading in green, while Shanghai Composite and Hong Kong's Hang Seng are trading lower.

Wall Street closed higher on Tuesday. The Dow Jones industrial average closed 0.1% higher, at 18,547.3 points. The S&P 500 gained 0.2% and the Nasdaq advanced 0.3%. Oil prices fell as an unexpected build in US crude stocks weighed on markets, along with concerns that Chinese crude demand could falter as Beijing clamps down on alleged tax evasion in the oil industry. The dollar index held steady as as investors reassess the outlook for US monetary tightening.

Market participants were also jittery as the speech by Fed chair Janet Yellen at an annual summer gathering in Jackson Hole was awaited, for indications of how policymakers view the interest rates outlook and ahead of the expiry of the derivative contracts on Thursday.

The Rs.1,200 crore initial public offering of RBL Bank received strong investor response on its last day on Tuesday garnering bids close to 70 times the shares on sale.

Cement, power and steel firms may remain at the receiving end as the Railway Board decided to rationalize coal tariff by rejigging the distance slabs effectively increasing rates by up to 19pc. Recent reports indicated that the budget may be advanced. But before that on Friday the Prime Minister is expected to call a meeting with ministers to review the progress of Budget proposals ever since the BJP-led government came to power. 

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