The Indian equity market opened in green after massive cuts yesterday and also rebound in Asian markets.
The S&P BSE Sensex is trading at 27,648 up mere five points, while NSE Nifty is trading at 8,590 up 11 points.
The BSE Mid-cap Index is trading up 0.50% at 13,378 whereas BSE Small-cap Index is trading up 0.45% at 13,127.
GAIL, RIL, Adani Ports, ONGC, L&T, Cipla and Axis Bank are among the gainers, whereas Lupin, Bharti Airtel, HUL, HDFC Bank, Infosys and Sun Pharma are losing sheen on BSE.
Some buying activity is seen in oil & gas, basic materials, energy, industrial and realty sectors, while banking, consumer durables, finance and telecom are showing weakness on BSE.
The INDIA VIX is down 1.52% at 15.1900. Out of 1,870 stocks traded on the NSE, 535 declined, 1,012 advanced and 323 remained unchanged today.
A total of 53 stocks registered a fresh 52-week high in trades today, while 10 stocks touched a new 52-week low on the NSE.
The rupee opened higher by eight paise at 66.85/$ as against the previous close of 66.93/$. The rupee opened higher against the dollar, tracking a recovery across Asian assets as better-than-expected economic data out of China propped up risk appetite.
On the macro-front, India’s retail inflation eased sharply to 4.31% in September, the slowest in more than a year, from 5.05% from August, mainly on account of a sharp fall in food prices.
Asian markets opened on a pessimistic note as losses over the last 3 days have hurt sentiment even as the Dow Jones index recovered most losses overnight. This week has seen brutal cuts on equity markets globally as investors contend with weak China data, weak start to earnings in the US & now almost 70% probability of rate hike by the Federal Reserve.
Wall Street closed down on Thursday. The Dow Jones industrial average was down 45.26 points, or 0.25% to 18,098.94, the S&P 500 lost 6.63 points, or 0.31% to 2,132.55 and the Nasdaq Composite dropped 25.69 points, or 0.49% to 5,213.33.
Strength in the US$ & rising bond yields are the other negatives being priced in by global markets. However with corrections being part of the course for markets, this would be a good opportunity to buy as underlying fundamentals indicate strength with emerging markets being best proxy to bullishness in energy & commodities with oil & metals hitting fresh 52 week highs.
Finance Minister Arun Jaitley blamed the successive governments' inability to bring in reforms in the infrastructure and power sectors for the rising non-performing assets in the core segments.
The S&P BSE Sensex is trading at 27,648 up mere five points, while NSE Nifty is trading at 8,590 up 11 points.
The BSE Mid-cap Index is trading up 0.50% at 13,378 whereas BSE Small-cap Index is trading up 0.45% at 13,127.
GAIL, RIL, Adani Ports, ONGC, L&T, Cipla and Axis Bank are among the gainers, whereas Lupin, Bharti Airtel, HUL, HDFC Bank, Infosys and Sun Pharma are losing sheen on BSE.
Some buying activity is seen in oil & gas, basic materials, energy, industrial and realty sectors, while banking, consumer durables, finance and telecom are showing weakness on BSE.
The INDIA VIX is down 1.52% at 15.1900. Out of 1,870 stocks traded on the NSE, 535 declined, 1,012 advanced and 323 remained unchanged today.
A total of 53 stocks registered a fresh 52-week high in trades today, while 10 stocks touched a new 52-week low on the NSE.
The rupee opened higher by eight paise at 66.85/$ as against the previous close of 66.93/$. The rupee opened higher against the dollar, tracking a recovery across Asian assets as better-than-expected economic data out of China propped up risk appetite.
On the macro-front, India’s retail inflation eased sharply to 4.31% in September, the slowest in more than a year, from 5.05% from August, mainly on account of a sharp fall in food prices.
Asian markets opened on a pessimistic note as losses over the last 3 days have hurt sentiment even as the Dow Jones index recovered most losses overnight. This week has seen brutal cuts on equity markets globally as investors contend with weak China data, weak start to earnings in the US & now almost 70% probability of rate hike by the Federal Reserve.
Wall Street closed down on Thursday. The Dow Jones industrial average was down 45.26 points, or 0.25% to 18,098.94, the S&P 500 lost 6.63 points, or 0.31% to 2,132.55 and the Nasdaq Composite dropped 25.69 points, or 0.49% to 5,213.33.
Strength in the US$ & rising bond yields are the other negatives being priced in by global markets. However with corrections being part of the course for markets, this would be a good opportunity to buy as underlying fundamentals indicate strength with emerging markets being best proxy to bullishness in energy & commodities with oil & metals hitting fresh 52 week highs.
Finance Minister Arun Jaitley blamed the successive governments' inability to bring in reforms in the infrastructure and power sectors for the rising non-performing assets in the core segments.
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