Sensex, Nifty ends flat; Oil & Gas, Capital Goods stocks lead

The Indian stock market recovered from the previous session's multi-month low and closed marginally higher with financials gaining on the prospect of further rate cuts after inflation cooled to a 13-month low in September.

Markets were unable to hold on to their gains as selling pressure in the telecom, IT, technology and consumer discretionary stocks dragged indices lower. On the other hand, oil & gas, capital goods, energy, industrial, realty and banking stocks ended with gains.

Finally, the BSE Sensex ended with a gain of 30 points at 28,507. The BSE Sensex opened at 27,712, touched an intra-day high of 27,764 and low of 27,548.

The NSE Nifty closed with a gain of 10 at 8,583. The NSE Nifty opened at 8,594 hitting a high of 8,604 and low of 8,549.80.

Sentiments got boosted after India’s WPI in the month of September 2016 softened to 3.57% compared to 3.74% in the previous month . Also, some support was gained with retail inflation hitting a 13-month low, aided by lower food prices especially those of vegetables. This is the first time in this financial year that the overall CPI inflationhas fallen below the Reserve Bank of India’s inflation target of 5% by March 2017.

Meanwhile, Finance Minister Arun Jaitley has said that the absence of reforms in infrastructure and power sectors by the previous government created huge non-performing assets (NPAs) in these core segments.

Among the Nifty stocks, GAIL, L&T, Tata MotorsDVR, Tata Motors, RIL, BPCL, Power Grid, UltraTech Cement and TCS were the gainers whereas Zee, Bharti Infratel, Infosys, HUL, Eicher Motors and Idea Cellular were among the losers today.

The India VIX (Volatility) index was down 3.48% at 14.8875. Out of 1,398 stocks traded on the NSE, 473 declined and 879 advanced today.

The BSE Midcap and Smallcap indices ended higher by 0.80%.

The rupee was trading up 19 paise at 66.74 per US dollar.

On the global front, Asian markets closed mixed on Friday, with investors assessing price increases in China and the possibility of an interest rate hike in the U.S. later in the year. Japan’s Nikkei and Hong Kong’s Hang Seng gained over 0.50%. China’s Shanghai Composite closed higher.

Sensex, Nifty volatile; Consumer Durables, Metal drag

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. 

Sensex, Nifty trade flat; Oil & Gas, Energy gain

The Indian equity market opened in green after massive cuts yesterday and also rebound in Asian markets.

At 9:30 AM, the S&P BSE Sensex is trading at 27,682 up 39 points, while NSE Nifty is trading at 8,590 up 11 points.

The BSE Mid-cap Index is trading up 0.43% at 13,370 whereas BSE Small-cap Index is trading up 0.52% at 13,136.

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 2.15% at 15.0925. Out of 1,844 stocks traded on the NSE, 377 declined, 1,057 advanced and 377 remained unchanged today.

A total of 30 stocks registered a fresh 52-week high in trades today, while four 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.