Thursday 29 September 2016

Nifty shuts below 8,600 mark

Closing Bell:


Finally, the BSE Sensex ended with a loss of 465 points at 27,827. The BSE Sensex opened at 28,423 touched an intra-day high of 28,476 and low of 27,719.

The NSE Nifty closed with a loss of 154 points at 8,591. The NSE Nifty opened at 8,793 hitting a high of 8,801 and low of 8,558.

Live Market:

The Indian equity market tanked over 1% as the Indian Army confirmed that it undertook surgical strikes across Line of Control in Jammu and Kashmir at terror launchpads sending across a very strong message to Pakistan on Wednesday night.

The rupee and 10-year government bond yields are at 1-week low.

The Nifty broke 8,600 level, while the Sensex lost 555 points to trade below 28,000.

DGMO has said there are no plans as of now for further operations.

At 2:29 PM, the S&P BSE Sensex is trading at 27,765 down 528 points, while NSE Nifty is trading at 8,573 down 172 points.

The BSE Mid-cap Index is trading down 3.76% at 12,893 whereas BSE Small-cap Index is trading down 4.43% at 12,461.

TCS, AIA Engineering, Balkrishna Industries and GSPL are among the gainers, whereas ICICI Bank, Adani Ports, Axis Bank and SBI are losing sheen on BSE.

All the NSE sectoral indices were trading in the negative territory.

The INDIA VIX is up 35.71% at 18.7925. Out of 1,876 stocks traded on the NSE, 1,524 declined, 119 advanced and 233 remained unchanged today.

A total of 93 stocks registered a fresh 52-week high in trades today, while 55 stocks touched a new 52-week low on the NSE.

India is well on its way to emerge as a major player in global economy, Finance Minister Arun Jaitley said reacting to the latest WEF’s global ranking. India rose 16 ranks, faster than any other, to climb to 39 in FY17 among 138 countries.

OPEC members agreed to cut output to boost prices despite differences between Iran and Saudi Arabia. Crude oil prices rallied taking with it global equity markets. 

Multi Commodity Exchange of India Ltd is currently trading at Rs. 1353, up by Rs. 106.35 or 8.53% from its previous closing of Rs. 1246.65 on the BSE.

ICICI Prudential Life Insurance Company shares got listed at Rs.330 on NSE.

Market participants are anxiously awaiting the Monetary Policy Review on October 4, the first to be held under the newly appointed RBI Governor Urjit Patel and the first to be decided by a six-member panel.

Asian markets are trading mixed. In Japan, the Nikkei 225 jumped 1.4%. Hong Kong's Hang Seng and Shanghai Composite are trading in green.

The rupee opened marginally higher one paise at 66.45/$ against US Dollar Thursday as against the previous close of 66.45/$.

Wall Street ended higher on Wednesday after the Organization of the Petroleum Exporting Countries (OPEC) agreed to cut crude oil production. As crude oil prices rose. The Dow Jones industrial average rose 0.61% to end at 18,339.24 points and the S&P 500 gained 0.53% to 2,171.37. The Nasdaq Composite added 0.24% to 5,318.55. Brent crude was up 0.4% at USD 48.87 a barrel, adding to overnight gains of 5.9%.

On the economy front, EPFO will invest 8-10% of its annual incremental corpus amounting to nearly Rs.14,000 crore in the equity market this financial year, increasing its investments in stocks, according to the media report.

Sebi allowed commodity derivative exchanges to launch options contracts for trading with the aim of increasing liquidity and attracting more investors to the commodities market.

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