Nifty holds 8700 mark

The Indian equity market snapped a three-day losing streak, opening with gains of 0.5%. The domestic market traded flat to positive following tepid global cues.

The S&P BSE Sensex is trading at 28,126 up 65 points, while NSE Nifty is trading at 8,724 up 27 points.

The BSE Mid-cap Index is trading down 0.01% at 13,541 whereas BSE Small-cap Index is trading up 0.40% at 13,275.

Markets got some support with NITI Aayog vice-chairman Arvind Panagariya’s statement that India can become a $10 trillion economy in the next 15 years, from the existing $2 trillion, like China did in last one and a half decade. 

Tata Steel, Asian Paints, Cipla, M&M, Power Grid and Hero MotoCorp are among the gainers, whereas Bharti Airtel, TCS, Adani Ports, Infosys, HDFC and Sun Pharma are losing sheen on BSE.

Some buying activity is seen in metal, basic materials, consumer durables,pharma, utilities and FMCG sectors, while telecom, realty and finance are showing weakness on BSE.

The INDIA VIX is down 1.13% at 14.3200. Out of 1,875 stocks traded on the NSE, 572 declined, 1,010 advanced and 293 remained unchanged today.

A total of 94 stocks registered a fresh 52-week high in trades today, while 11 stocks touched a new 52-week low on the NSE.

Tata Teleservices (Maharashtra) climbed 5.6% after the company succeeded in wining spectrum in 1800 MHz band in Mumbai and Maharashtra Service Areas with bid values of Rs 2446 crore and Rs 1590 crore respectively. The total upfront payment to be made to Department of Telecommunications by the Company is Rs 2018 crore.

RBL Bank rose 1% to Rs 311 after the company joined hands with NeoGrowth Credit Pvt. Ltd and Overseas Private Investment Corporation to provide financing for small and medium enterprises in the Indian retail space.

Sunil Hitech Engineers jumped 18% to Rs 378.20 on BSE after the company said its board will consider the issue of bonus shares and the issue of convertible warrants to the promoters and non-promoters on 11 October 2016.

Shriram City Union Finance rallied 2.2% to Rs 2,279 after the Banking and Securities Management Committee of the company allotted 1,000 non convertible redeemable debentures to two investors.

Jammu & Kashmir Bank Ltd advanced 1% to Rs 88 after huge block deal. Around 1.22 million shares of the company changed hands in a block deal.

Excel Crop Care Ltd rises 3.4% to Rs 1,472. Shroff family and Ratanbali group has completed 24.72% and 20.26% respectively stake to Sumitomo Chemical. Sumitomo Chemical now owns 64.94% stake in teh Excel Corp Care.

Sensex, Nifty gain marginally; FMCG, metals, pharma support

The market is gaining marginally supported by strenghts in FMCG, metals and pharma stocks. The Sensex is up 67.50 points or 0.2 percent at 28128.64 and the Nifty is up 26.65 points or 0.3 percent at 8724.25. About 1565 shares have advanced, 806 shares declined, and 101 shares are unchanged. 

Tata Steel, Cipla, GAIL, Asain Paints and Lupin are top gainers while Bharti, HDFC tiwns ONGC and NTPC are losers in the Sensex. 

Gold prices were up by Rs 193 to Rs 29,850 per 10 gram in futures trade today as speculators created positions amid positive cues from the global market. 

According to analysts, a firming trend overseas where gold rebounded from the biggest weekly decline this year as investors piled into bullion-backed exchange-traded funds, lifting global holdings to the highest since 2013, and as the dollar fell for a second day, influenced the precious metal in futures trade.

Nifty above 8700 mark; Metal, FMCG stocks lead

The S&P BSE Sensex is trading at 28,165 up 104 points, while NSE Nifty is trading at 8,729 up 32 points.

The BSE Mid-cap Index is trading up 0.48% at 13,608 whereas BSE Small-cap Index is trading up 0.53% at 13,293.

Tata Steel, Asian Paints, Cipla, M&M, Power Grid and Hero MotoCorp are among the gainers, whereas Bharti Airtel, TCS, Adani Ports, Infosys, HDFC and Sun Pharma are losing sheen on BSE.

Some buying activity is seen in metal, basic materials, consumer durables, utilities and FMCG sectors, while IT and teck are showing weakness on BSE.

The INDIA VIX is down 0.70% at 14.3825. Out of 1,852 stocks traded on the NSE, 346 declined, 1,100 advanced and 406 remained unchanged today.

A total of 49 stocks registered a fresh 52-week high in trades today, while 5 stocks touched a new 52-week low on the NSE.

The rupee opened higher by 10 paise at 66.57/$ as against the previous close of 66.67/$. The rupee opened higher in early trade at the forex market today on increased selling of the American currency by banks and exporters.


The domstic markets will remain closed on Tuesday and Wednesday on account of Dussehra and Muharram, respectively.

Asian markets opened flat as all eyes on Chinese markets which open after a week of holidays & should see an uptick on the back of commodity prices rallying globally. Hang Seng and Nikkei 225 are trading in red.

Globally consolidation continues as rise in bond yields leads to balancing of most portfolio's & money allocation to emerging markets set to rise as European banking woes to hit flows. Expect rally in equities this week from oversold territory as most events discounted & pullback on the cards.

Wall Street fell modestly on Friday after sharp swings in sterling and a slightly weaker-than-expected jobs report. The Dow slid 0.2 percent, while the tech-heavy Nasdaq and the S&P 500 eased about 0.3 percent each.

On economy front, data on industrial production (IIP) for August is scheduled to come on Monday.

On the international front, the US added 1,56,000 new jobs in September but the unemployment rate in the world's largest economy rose slightly by 0.1% to 5%. The International Monetary Fund's member countries on Saturday pledged to revive flagging global trade, boost government spending and remove barriers to business to fight weak growth that has left too many people behind.

Oil extended slide below $50 a barrel after the release of weekly U.S. oil rig count and the dollar held steady versus the yen, while gold rebounded from its biggest decline in almost a year.