Sensex, Nifty recover slightly, MSS limit increased

At 01:46 PM, the S&P BSE Sensex is trading at 26450.96 down 109 points, while NSE Nifty is trading at 8150.85 down 42 points. Out of 1,878 stocks traded on the NSE, 1057 declined, 503 advanced and 318 remained unchanged today.

A total of 15 stocks registered a fresh 52-week high in trade today, while 12 stocks touched a new 52-week low on the NSE.

The BSE Mid-cap Index is trading down 0.50% at 12293.04, whereas BSE Small-cap Index is trading down 0.54% at 12183.80.

Eicher Motors, SBI, ICICI, Tata Power, Bank of Baroda are among the gainers, whereas BPCL, Tata Motors, Kotak Bank, Asian Paints, ITC are losing sheen on NSE.

Some buying is witnessed in Banking, Utilities, Power, sectors, while Oil & Gas, Auto, Capital Goods, FMCG, Consumer Durables are showing weakness on BSE.

The INDIA VIX is up 1.76 % at 16.9825.

Sensex slips over 100 points; Realty, Banking stocks drag.

At 9:15 AM, the S&P BSE Sensex is trading at 26,642, down 138 points, while NSE Nifty is trading at 8,146 down 47 points.

The Indian rupee opened higher by 7 paise at 68.28/$ against the previous close of 68.34/$.

Asian markets were trading in the red on opening bell as despite overnight gains in the Dow Jones the sharp volatility in the US $ combined with crude trading over $50 weakened sentiment.

US indices closed mixed with Dow hitting a new high and Nasdaq falling due to deep cuts in semiconductor and biotechnology shares. Uncertainty in EMs is likely to continue in the near term given the possible Fed rate hike anticipated this month. The Indian market's focus will be on the RBI move next week where a rate cut is on the anvil given the slowdown in the economy. The Italian referendum on Sunday will keep global markets anxious.

The Indian equity market was one of the worst performing ones among the emerging markets in November shedding 4.6pc in a month, which saw a sudden demonetisation move of high value currency.

The first impact numbers were reflected in Nikkei India Manufacturing Purchasing Managers' Index (PMI), which dropped to 52.3 in Nov from a 22-month high of 54.4 in Oct. Shortages of currency notes hampered growth of new work, buying activity and production. Auto numbers were a mixed bag with Maruti Suzuki and Toyota clocking double digit growth, while Mahindra’s sales saw a drop.

Gold prices also hit near 6 month lows as asset class rotation after the Trump victory has seen the highest volatiltiy in the last decade.