The S&P BSE Sensex is trading at 27,447 up 17 points, while NSE Nifty is trading at 8,491 up mere six points.
The rupee opened marginally higher by one paise at 66.73/$ as against the previous close of 66.74/$.
Asian markets would see further weakness creep in as the losing streak in equities continues. Historically most US elections have seen a pre-election rally which may not be in the offing this time as uncertainty has been prevalent right till the end of the campaigns, with both participants equally poised near the finish line. However market under performance before the event could see a smart year end rally as most negatives would be priced in & event uncertainty over equities could bounce sharply from oversold levels.
Nifty broke 8500 & closed at the lowest in last 4 months as foreign investors raise cash & increase hedge positions before the US election results. Domestic flows are at their strongest levels but with sentiment being weak Nifty continues to drift lower.
Crude oil prices edged higher after days of weakness. The action today will revolve around stocks which will be impacted under the new sales tax. Four main rate bands have been approved for rolling out GST next April; ranging from 5 to 28 per cent, with 12 per cent and 18 per cent as standard rates. Food items and essential commodities will be kept outside the ambit of GST and this should keep inflation subdued. FMCG stocks and Logistics could be clear gainers today while tobacco-related companies are awaiting clarity.
The rupee opened marginally higher by one paise at 66.73/$ as against the previous close of 66.74/$.
Asian markets would see further weakness creep in as the losing streak in equities continues. Historically most US elections have seen a pre-election rally which may not be in the offing this time as uncertainty has been prevalent right till the end of the campaigns, with both participants equally poised near the finish line. However market under performance before the event could see a smart year end rally as most negatives would be priced in & event uncertainty over equities could bounce sharply from oversold levels.
Nifty broke 8500 & closed at the lowest in last 4 months as foreign investors raise cash & increase hedge positions before the US election results. Domestic flows are at their strongest levels but with sentiment being weak Nifty continues to drift lower.
Crude oil prices edged higher after days of weakness. The action today will revolve around stocks which will be impacted under the new sales tax. Four main rate bands have been approved for rolling out GST next April; ranging from 5 to 28 per cent, with 12 per cent and 18 per cent as standard rates. Food items and essential commodities will be kept outside the ambit of GST and this should keep inflation subdued. FMCG stocks and Logistics could be clear gainers today while tobacco-related companies are awaiting clarity.
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