Indian shares erased its gains initial gains and were trading marginally lower due to weak Asian cues. The Nifty reclaimed its crucial level of 8,800 supported by gains in realty, power, metal, consumer durable, capital goods, auto, and banks.
The Nikkei India Services Business Activity Index registered 52 in September, down from August’s 43 month high of 54.7, the latest reading pointed to a slower rate of expansion that was moderate overall.
The S&P BSE Sensex is trading at 28,302 down 34 points, while NSE Nifty is trading at 8,755 down 14 points.
The BSE Mid-cap Index is trading up 0.19% at 13,576 whereas BSE Small-cap Index is trading up 0.33% at 13,253.
Asian Paints, HUL, SBI, Tata Motors and Maruti Suzuki are among the gainers, whereas ONGC, Bajaj Auto, M&M, Wipro and Infosys are losing sheen on BSE.
Some buying activity is seen in realty, metal, telecom, industrial, auto, FMCG and utilities sectors, while IT, teck, banking, finance, capital goods, pharma, energy and oil & gas are showing weakness on BSE.
The INDIA VIX is up 0.25% at 15.0300. Out of 1,870 stocks traded on the NSE, 672 declined, 844 advanced and 358 remained unchanged today.
A total of 92 stocks registered a fresh 52-week high in trades today, while eight stocks touched a new 52-week low on the NSE.
The rupee opened lower 16 paise at 66.62/$ against US Dollar Wednesday as against the previous close of 66.46/$.
Asian indices resumed trading in the red with the exception of the Japanese 'Nikkei" index which rallied as the yen weakened against the US$.
The latest round of pessimism now emanates from 65% probability of a US rate hike in December & unwinding of stimulus by the ECB. With the 'elexir' of cheap money seeming to be withdrawn caution seems the buzzword in most global equity markets. Weaker than expected macro numbers from Brazil & lowering of global growth targets by the IMF will be the other points of concern.
Wall Street closed lower on Tuesday. The Dow Jones Industrial Average fell 85.40 points, or 0.5%, to close at 18,168.45.The S&P 500 Index declined 10.71 points, or 0.5% to 2,150.49, and the Nasdaq Composite index slipped 11.22 points, or 0.2% to 5,289.66.
Crude oil was unable to fight back above $50 on Tuesday amid signs of increased production from Iran and Libya.
On the economy front, RBI Governor in his debut policy cut rates to get the 'repo' @ 6.25% which is the lowest in the last 7 years. The RBI Governor, Urjit R. Patel said in the policy review that global growth has been slowing more than anticipated through 2016 so far, with weak investment and trade damping aggregate demand.
The Nikkei India Services Business Activity Index registered 52 in September, down from August’s 43 month high of 54.7, the latest reading pointed to a slower rate of expansion that was moderate overall.
The S&P BSE Sensex is trading at 28,302 down 34 points, while NSE Nifty is trading at 8,755 down 14 points.
The BSE Mid-cap Index is trading up 0.19% at 13,576 whereas BSE Small-cap Index is trading up 0.33% at 13,253.
Asian Paints, HUL, SBI, Tata Motors and Maruti Suzuki are among the gainers, whereas ONGC, Bajaj Auto, M&M, Wipro and Infosys are losing sheen on BSE.
Some buying activity is seen in realty, metal, telecom, industrial, auto, FMCG and utilities sectors, while IT, teck, banking, finance, capital goods, pharma, energy and oil & gas are showing weakness on BSE.
The INDIA VIX is up 0.25% at 15.0300. Out of 1,870 stocks traded on the NSE, 672 declined, 844 advanced and 358 remained unchanged today.
A total of 92 stocks registered a fresh 52-week high in trades today, while eight stocks touched a new 52-week low on the NSE.
The rupee opened lower 16 paise at 66.62/$ against US Dollar Wednesday as against the previous close of 66.46/$.
Asian indices resumed trading in the red with the exception of the Japanese 'Nikkei" index which rallied as the yen weakened against the US$.
The latest round of pessimism now emanates from 65% probability of a US rate hike in December & unwinding of stimulus by the ECB. With the 'elexir' of cheap money seeming to be withdrawn caution seems the buzzword in most global equity markets. Weaker than expected macro numbers from Brazil & lowering of global growth targets by the IMF will be the other points of concern.
Wall Street closed lower on Tuesday. The Dow Jones Industrial Average fell 85.40 points, or 0.5%, to close at 18,168.45.The S&P 500 Index declined 10.71 points, or 0.5% to 2,150.49, and the Nasdaq Composite index slipped 11.22 points, or 0.2% to 5,289.66.
Crude oil was unable to fight back above $50 on Tuesday amid signs of increased production from Iran and Libya.
On the economy front, RBI Governor in his debut policy cut rates to get the 'repo' @ 6.25% which is the lowest in the last 7 years. The RBI Governor, Urjit R. Patel said in the policy review that global growth has been slowing more than anticipated through 2016 so far, with weak investment and trade damping aggregate demand.
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