Monday 26 September 2016

Nifty trades below 8,800 mark; Banking, Auto drag

The Indian equity market opened in red on Monday tracking subdued global cues. The Sensex fell over 150 points and Niftymoved below its crucial psychological level of 8,800 on the back of weak global cues.

At 9:30 AM, the S&P BSE Sensex is trading at 28,547 down 121 points, while NSE Nifty is trading at 8,795 down 37 points.


The BSE Mid-cap Index is trading up 0.04% at 13,337 whereas BSE Small-cap Index is trading up 0.08% at 12,969.

RIL, Dr.Reddy's, Tata Steel, Power Grid, TCS and Coal India are among the gainers, whereas ICICI Bank, HDFC, Adani Ports, Tata Motors and ITC are losing sheen on BSE.

Some buying activity is seen in energy, pharma and capital goods sectors, while banking, realty, IT, FMCG, industrial and basic materials sector are showing weakness on BSE.

The INDIA VIX is UP 2.09% at 13.5250. Out of 1,844 stocks traded on the NSE, 816 declined, 614 advanced and 414 remained unchanged today.

A total of 22 stocks registered a fresh 52-week high in trades today, while 8 stocks touched a new 52-week low on the NSE.

The rupee opened lower 12 paise at 66.77/$ against US Dollar Monday as against the previous close of 66.65/$.

Asian markets retreated in the morning as safe haven assets gained ground. Shanghai Composite and Nikkei 225 are in red. Wall Street closed lower. S&P 500 lost 0.57% to 2,164 points, on selling in energy stocks. Investors awaited Monday evening's US presidential debate between Donald Trump and Hillary Clinton, which will take place early on Tuesday in Asian time zones.

GNA Axles Ltd, which recently concluded its initial public offering (IPO), will list its shares on the bourses on Monday.

India's foreign exchange reserves dipped by $ 1.679 bllion to $ 369.6 billion in the week ended September 16 the Reserve Bank of India said.

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