Closing Bell:
The BSE Sensex ended with a loss of 33 points at 26,727. The NSE Nifty closed with a loss of eight points at 8,236.
Share indices were choppy today, as gains on account of firm global market were offset by concern of a slowdown in India's economic growth, which resurfaced after the Central Statistics Office pegged GDP growth for the current financial year at a three-year low of 7.1%.
Out of 1,917 stocks traded on the NSE, 607 declined, 933 advanced and 377 remained unchanged today.
The BSE Mid-cap Index is trading up 0.23% at 12,349, whereas BSE Small-cap Index is trading up 0.46% at 12,496.
Some buying activity is observed in FMCG, Metal, Bank, Auto and Realty, while Pharma index is showing weakness on NSE.
Aurobindo Pharma, Eicher Motors, Yes Bank, Cipla and Sun Pharma are among the gainers, whereas Tech Mahindra, Dr Reddy's, ICICI Bank, Airtel and TCS are losing sheen on NSE.
The INDIA VIX is up 2% at 15.41.
Aurobindo Pharma rose 3% as the company said its wholly-owned subsidiary Agile Pharma B.V., Netherlands, has signed a binding agreement to acquire Portugal-based Generis Farmaceutica SA. The company has also received approval of the US Food and Drug Administration for generic Levetiracetam injectable.
BEML shares gained 7% as the Cabinet has approved divesting 26% stake in the company.
The Indian rupee opened weaker by 21 paise against US Dollar at 68.17 per dollar versus 67.96 Friday.
Asian markets opened flat to positive as US$ volatility versus Chinese yuan saw currency moves dominate recent market behaviour. The US$ is witnessing profit booking at every rally while the Chinese yuan had a very strong rally from oversold levels. The Dow Jones also hit 19999.63 as positive jobs report saw the US$ strengthen with equities jumping.
On Friday, the CSO estimated that the Indian economy would grow 7.1% in FY17, down from 7.6% in the year before. Estimates have been reduced for all sectors but agriculture, which is set to reap the benefits of a good monsoon season. Yet, these projections are considered more of an academic exercise as the projections do not capture the impact of demonetisation.
Finance minister Arun Jaitley said demonetisation will create a new “normal” and change the expenditure pattern of India. After paring gains on Friday, benchmark indices may look at trading in a tight zone.
The BSE Sensex ended with a loss of 33 points at 26,727. The NSE Nifty closed with a loss of eight points at 8,236.
Share indices were choppy today, as gains on account of firm global market were offset by concern of a slowdown in India's economic growth, which resurfaced after the Central Statistics Office pegged GDP growth for the current financial year at a three-year low of 7.1%.
Out of 1,917 stocks traded on the NSE, 607 declined, 933 advanced and 377 remained unchanged today.
The BSE Mid-cap Index is trading up 0.23% at 12,349, whereas BSE Small-cap Index is trading up 0.46% at 12,496.
Some buying activity is observed in FMCG, Metal, Bank, Auto and Realty, while Pharma index is showing weakness on NSE.
Aurobindo Pharma, Eicher Motors, Yes Bank, Cipla and Sun Pharma are among the gainers, whereas Tech Mahindra, Dr Reddy's, ICICI Bank, Airtel and TCS are losing sheen on NSE.
The INDIA VIX is up 2% at 15.41.
Aurobindo Pharma rose 3% as the company said its wholly-owned subsidiary Agile Pharma B.V., Netherlands, has signed a binding agreement to acquire Portugal-based Generis Farmaceutica SA. The company has also received approval of the US Food and Drug Administration for generic Levetiracetam injectable.
BEML shares gained 7% as the Cabinet has approved divesting 26% stake in the company.
The Indian rupee opened weaker by 21 paise against US Dollar at 68.17 per dollar versus 67.96 Friday.
Asian markets opened flat to positive as US$ volatility versus Chinese yuan saw currency moves dominate recent market behaviour. The US$ is witnessing profit booking at every rally while the Chinese yuan had a very strong rally from oversold levels. The Dow Jones also hit 19999.63 as positive jobs report saw the US$ strengthen with equities jumping.
On Friday, the CSO estimated that the Indian economy would grow 7.1% in FY17, down from 7.6% in the year before. Estimates have been reduced for all sectors but agriculture, which is set to reap the benefits of a good monsoon season. Yet, these projections are considered more of an academic exercise as the projections do not capture the impact of demonetisation.
Finance minister Arun Jaitley said demonetisation will create a new “normal” and change the expenditure pattern of India. After paring gains on Friday, benchmark indices may look at trading in a tight zone.
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