Monday 24 October 2016

Sensex, Nifty trade flat; Banking, Oil & Gas stocks lead

The Indian equity market climbed along with Asian equities amid a retreat in crude oil prices.The domestic market turned flat after making a higher opening tracking positive trend among global peers.

The S&P BSE Sensex is trading at 28,128 up 51 points, while NSE Nifty is trading at 8,704 down 11 points.

The BSE Mid-cap Index is trading up 0.08% at 13,613 whereas BSE Small-cap Index is trading up 0.60% at 13,513.

GAIL, ICICI Bank, Adani Ports, Power Grid, Maruti Suzuki and SBI are among the gainers, whereas Wipro, Bharti Airtel, Asian Paints, Axis Bank and Hero MotoCorp are losing sheen on BSE.

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

The INDIA VIX is up 1.73% at 14.0700. Out of 1,874 stocks traded on the NSE, 539 declined, 1,018 advanced and 318 remained unchanged today.

A total of 69 stocks registered a fresh 52-week high in trades today, while two stocks touched a new 52-week low on the NSE.

Asian markets opened flat with markets awaiting earnings as strength in the US $ & rise in bond yields gets factored into most markets.

The market would be focused on earnings even as investors pay close attention to FII inflows and currency movement. While FIIs have largely been offloading positions, domestic funds seem to be witnessing positive activity in investments.

The rupee opened lower by one paise at 66.89/$ as against the previous close of 66.88/$.

India's foreign exchange reserves declined by $1.506 billion to USD 366.139 billion in the week to October 14, the Reserve Bank said. Foreign currency assets (FCAs), a major component of the overall reserves, dipped by $1.486 billion to $340.908 billion. Gold reserves remained steady at $21.406 billion.

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