Investors can trade in CDSL from today

Central Depository Services (CDSL) is to hit the Indian exchanges today. The stock is the first depository to get listed on bourses in the country. The stock's grey market premium is around Rs 90-100 per share, indicating a listing of around Rs 225-250 per share, reported a leading news agency. The issue price for the IPO stood at Rs 149 per share.
 
What can be called as the most popular initial public offering (IPO) of 2017, the BSE promoted CDSL IPO was oversubscribed by 170.16 times. This made it the most subscribed IPO issue of 2017 in the Indian capital markets.
 
The qualified institutional buyers (QIBs) bid 148.71 times, retail individual investors bid 23.83 times and employees segment have received bids for 1.46 times for the Central Depository Services Limited (CDSL) IPO. The demand for the IPO was led by the non-institutional investors, who bid 563.03 times.
 
The objectives of the issue include achieving the benefits of listing the equity shares on NSE and to enhance its visibility and brand image and provide liquidity to its existing shareholders.

Opening Bell – Nifty, Sensex open slightly lower ahead of GST rollout

At 9:15 AM, the BSE Sensex opened higher by 33 points at 30824, while the Nifty50 opened lower by 26 points at 9478 mark.

Bank of Baroda is the top Nifty gainer and Tech Mahindra is the top Nifty loser in the morning hours. 
 
There are 499 advances, 914 declines and 494 unchanged stocks on NSE reflecting a negative bias floating in the market.
 
Now, going forward, Nifty50 has immediate support placed around 9,450, and if it holds below 9,450 it may trigger fresh selling towards the levels of 9,420 and then 9,400, while, on the upside, resistances are seen in the zone of 9,550-9,560.
 
The rupee opened at 64.72 per US dollar depreciated by 9 paise. On Thursday, the rupee closed at a one month low of 64.63 against the US dollar after local equity markets erased all the gains and ended little change ahead of the rollout of good and services tax from 1 July.
 
The US stocks plunged on Thursday, with the S&P 500 and Dow Industrial registering their worst one-day declines since May as the technology sector continued its sell-off. The Dow Jones Industrial Average fell 168 points to 21,287. The S&P 500 index slipped 21 point to 2,420. The Nasdaq Composite Index tumbled 90 points to 6,144.
 
Asian stocks fell in early trade on Friday, following a sell-off in the US market. Japan’s Nikkei 225 has slipped 239 points; Hong Kong’s Hang Seng has lost 286 points, while China’s Shanghai Composite has shed 8 points.

Live Stock Market Updates – Market near day’s high, Nifty struggles below 9600

The BSE Oil & Gas is one of the top gaining indices on Friday. It is up by 1.1% at 13343. ONGC is majorly contributing to the index gains and pulling it to higher level.
 
ONGC is trading higher by 1.5% at Rs 160 per share.
 
Other stocks in the index viz. Indraprastha Gas is up 2.3% at Rs 1061 per share, Bharat Petroleum Corporation is up 1.9% at Rs 628 per share, GAIL is up 1.4% at Rs 361 per share, Hindustan Petroleum Corporation is up 1.0% at Rs 517 per share, Indian Oil Corporation is up 0.8% at Rs 391 per share and Petronet LNG is also up 0.6% at Rs 435 per share.
 
Eris Lifesciences made premium debut on the NSE clocking gains of 1.32% at Rs 611 per share as compared to its issue price of Rs 603 per share. It concluded its initial public offer (IPO) last week and was subscribed 3.29 times in its three-day bidding from June 16-20.
 
The portion set aside for retail investors was oversubscribed 3.51 times and qualified institutional buyers was oversubscribed 4.68 times. The portion reserved for non-institutional investors was subscribed only 45%.
 
SEBI has proposed an expansion of eligible jurisdictions for grant of FPI registration to category I foreign portfolio investors (FPIs) by including countries that have diplomatic tie-ups with India and are FEMA compliant. Besides, the regulator has suggested for rationalising ‘fit and proper’ criteria for FPIs as well as simplifying broad-based requirements for such investors.

Opening Bell – Nifty reconquers 9500, Broader markets outperform benchmarks

At 9:15 AM, the BSE Sensex opened higher by 76 points at 30910, while the Nifty50 opened higher by 31 points at 9522 mark.

Axis Bank is the top Nifty gainer and NTPC is the top Nifty loser in the morning hours. 
 
There are 963 advances, 369 declines and 471 unchanged stocks on NSE reflecting a positive bias floating in the market.
 
Nifty50 index has immediate support placed in the range of 9,450, and if it holds below 9,450, it may trigger fresh selling towards 9,420 and then 9,400 level, while on the upside, resistances are seen at the level of 9,550.
 
The rupee opened at 64.46 per US dollar appreciated by 9 paise. On Wednesday, the rupee weakened further to close with a marginal loss of 2 paise at 64.55 against the American currency in limited trade on the back of stray dollar demand from importers.
 
The US stocks showed a strong move to the upside on Wednesday. The Dow climbed 144 points to 21,455. The Nasdaq advanced 88 points to finish at 6,234 and the S&P 500 jumped 21 points to 2,441.
 
Asian stocks edge higher in early trade on Thursday, following a rebound in the US markets. Japan’s Nikkei 225 has surged 104 points; Hong Kong’s Hang Seng has gained 175 points, while China’s Shanghai Composite has gained 4 points.

Live Stock Market Updates –Nifty reclaims 9550, Markets imbibe bullish mood

The BSE Telecom is the top gaining index in the morning session on Thursday. It is up by 1.3% at 1316.32. Bharti Airtel is contributing majorly to the index gains and pulling it to higher levels.
 
Bharti Airtel  is trading higher by 1.4% at Rs 382.85 per share.
 
Other stocks in the index viz. Reliance Communications is up by 3.1 % at Rs 21.50 per share, ITI is up by 3.3% at Rs 21.45 per share, Aksh Optifibre is up by 2.6% at Rs 17.45 per share, GTL Infrastructure is up by 2.5% at Rs 4.87 per share, OnMobile Global is up by 1.6% at Rs 69.35 per share and Vidhya Telelinks is also trading higher by 2.0% at Rs 768.00 per share.
 
Eris Lifesciences settles at Rs 611 per share in pre-open on NSE as against issue price of Rs 603 per share on its debut.
 
Godrej Industries Ltd proposes to sell shares of its group company Godrej Agrovet to raise up to Rs 400 crore through the initial public offer (IPO). Godrej Agrovet is involved in agri-inputs, animal feeds, dairy and poultry and palm oil manufacturing.
 
At 10 AM, the S&P BSE Sensex is trading at 31,064 up 223 points, while NSE Nifty is trading at 9561up 70 points. A total of 20 stocks registered a fresh 52-week high in trade today, while 22 stocks touched a new 52-week low on the NSE.
 
The BSE Mid-cap Index is trading up 0.85% at 14,626, while BSE Small-cap Index is trading up 1.26% at 15,352.
 
Sectoral indices in BSE are trading in positive sentiments on Thursday’s intraday trade, wherein Metal, Capital goods and Bankex are the major gainers on Thursday’s trade.  
 
Axis Bank, ACC & Tata Steel are among the gainers whereas Sun Pharmaceuticals Industries, NTPC & Wipro are losing on the NSE.
 
The INDIA VIX is down 4.6% at 11.4.

Opening Bell – Nifty oscillates around 9500, Sensex opens higher by 30 points

At 9:15 am the BSE Sensex opened at 30,988 up by 30 points, while the Nifty50 opened up by 9 points at 9,520 mark.
 
Kotak Mahindra Bank is the top Nifty gainer and Asian Paints is the top Nifty loser in the morning hours. Kotak Mahindra Bank is trading at Rs 981.85 per share up by 0.73% whereas Asian Paints is trading at Rs 1,115.05 per share, down by 1.68%.
 
There are 508 advances, 885 declines and 495 unchanged stocks on NSE reflecting some negative bias floating in the market.
 
The rupee opened at 64.55 per US dollar lower by 2 paise on Wednesday. The Indian rupee closed at 64.53 a dollar, down 0.03% from its Friday’s close of 64.52, on Tuesday, erasing all the morning gains and closed little changed against the US dollar after local equity markets fell nearly 180 points.
  
Nifty50 index has immediate support placed in the range of 9,450, and if it slips below this support zone, the next support is likely to come around the level of 9,400, while on the upside, resistances are seen in the zone of 9,550.
 
The US stocks closed lower on Tuesday. The tech-heavy Nasdaq Composite witnessed a steep drop, tumbling 101 points to finish at 6,147. The Dow Jones Industrial Average fell 99 points to 21,311 and the S&P 500 slid 20 points to 2,419. The weakness on Wall Street came following the International Monetary Fund cutting its outlook for the world’s largest economy.
 
Asian stocks are trading in the negative territory in early trade on Wednesday. Japan’s Nikkei 225 has lost 43 points; Hong Kong’s Hang Seng has slipped 194 points, while China’s Shanghai Composite has shed 10 points.

Live Stock Market Updates – Nifty tests 9500, Oil stocks rise

The BSE Oil & Gas is the top gaining index in the morning session on Wednesday. It is up by 0.42% at 13,358. Indian Oil Corporation is contributing majorly to the index gains and pulling it to higher levels.
 
IOC is trading higher by 1.4% at Rs 395.60 per share.
 
Other stocks in the index viz. Hindustan Petroleum Corporation is up by 1.57% at Rs 510.50 per share, BPCL is up by 1.46% at Rs 620.95 per share, GAIL is up by 1.08% at Rs 363.80, OIL is up by 0.95% at Rs 271.70 per share & ONGC is also trading higher by 0.25% at Rs 160.35 per share.
 
National Pharmaceutical Pricing Authority (NPPA) on Tuesday announced provisional ceiling prices of 761 medicines, including HIV, diabetes, anti-cancer and antibiotic. Majority of drug prices are being reduced as the GST regime is couple of days away.
 
At 10 AM, the S&P BSE Sensex is trading at 30,902 down 55 points, while NSE Nifty is trading at 9497 down 13 points. A total of 10 stocks registered a fresh 52-week high in trade today, while 46 stocks touched a new 52-week low on the NSE.
 
The BSE mid-cap Index is trading up 0.02% at 14,466, while BSE small-cap Index is trading down 0.06% at 15,132.
 
Some buying activity is seen in Auto, Utilities & Realty, while Consumer Durables and Capital Goods indices are showing weakness on BSE.
 
IOC, BPCL, GAIL are among the gainers, Asian Paints, ACC & Zee Entertainment Enterprise are losing on the NSE.
 
The INDIA VIX is up 0.8% at 12.6. 

Opening Bell – Markets open higher, Nifty below 9600

At 9:15 AM, the BSE Sensex opened higher by 56 points at 31194, while the Nifty50 opened higher by 20 points at 9594 mark.

Aurobindo Pharma is the top Nifty gainer and Indiabulls Housing Finance is the top Nifty loser in the morning hours. 
 
There are 927 advances, 513 declines and 460 unchanged stocks on NSE reflecting a positive bias floating in the market.
 
Nifty50 index has immediate support placed in the range of 9,550-9,540, and if it slips below this support zone, the next support is likely to come around the level of 9,510, while on the upside, resistances are seen in the zone of 9,600-9,650.
 
The rupee opened at 64.48 per US dollar appreciated by 3 paise. On Friday, The Indian rupee closed stronger against the US dollar tracking gains in the Asian currencies markets. The rupee closed at 64.52 a dollar, up 0.14% from its Thursday’s close of 64.60.
 
The US stocks closed mixed on Monday. The Dow Jones Industrial Average rose 15 points to end at 21,410. The S&P 500 finished with marginal gain of 0.1% at 2,439. Bucking the negative trend, the Nasdaq Composite Index shed 18 points to close at 6,247.
 
Most of the Asian stocks are trading in the positive territory in early trade on Tuesday. Japan’s Nikkei 225 has gained 78 points as the yen weakened against the US dollar for the first time in seven days; Hong Kong’s Hang Seng is up 30 points, while China’s Shanghai Composite has slipped 5 points.

HDFC to seek shareholders’ nod to raise Rs 85,000 crore

HDFC, a major provider of finance for housing in India, will seek shareholder’s approval to raise RS 85,000 crore through various debt instruments.
 
The mortgage lender will seek its shareholder’s nod at the Annual General Meeting which is scheduled on July 26, 2017.
 
The fund is to be raised by issuing redeemable non-convertible debentures or other hybrid instruments on a private placement basis for cash either at par or premium or at a discount to face value depending upon the prevailing market conditions.
 
The stock of the company on the NSE is trading Rs 1,664 per share at Rs 12.65 per share or 0.7% at 1025 hours. The stock has delivered 36% returns in a period of one year and has outperformed the BSE Sensex and Nifty Financial Services over the same time span.

Stock view:
 
Housing Development Finance Corporation Ltd is currently trading at Rs 1657.75, up by Rs 6.9 or 0.42% from its previous closing of Rs 1650.85 on the BSE.
 
The scrip opened at Rs 1651 and has touched a high and low of Rs 1666.65 and Rs 1651 respectively. So far 1276439(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 262530.96 crore.
 
The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 1680.5 on 13-Jun-2017 and a 52 week low of Rs 1185 on 05-Dec-2016. Last one week high and low of the scrip stood at Rs 1660 and Rs 1616 respectively.
 
The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 87.77 % and 12.23 % respectively.
 
The stock is currently trading above its 50 DMA.

Live Stock Market Updates: Markets extend losses; Nifty FMCG index gains

Nifty FMCG index is the only gaining index among the sectoral indices on NSE. FMCG heavyweight, ITC Limited was trading higher by 1.24% at Rs 314.85 per share. Godrej Consumer Products Limited, Jubilant Foods and United Spirits Limited were also trading in positive territory on Tuesday.
 
The advance declines ratio stood at 419:1093 at NSE with bears dominating the market.
 
At 11 AM, the S&P BSE Sensex is trading at 31045 down 92 points, while NSE Nifty is trading at 9525 down 49 points. A total of 13 stocks registered a fresh 52-week high in trade today, while 47 stocks touched a new 52-week low on the NSE.
 
The BSE Mid-cap Index is trading down 1.04% at 14431, while BSE Small-cap Index is trading down 1.16% at 15203.
 
Some buying activity is seen in FMCG, Healthcare and Telecom while Oil & Gas, Energy, Finance, are showing weakness on BSE.
 
ITC Limited, Aurobindo Pharma, Adani Ports, Hindustan Unilever and HDFC Bank are among the gainers, whereas Bank of Baroda, Indiabulls Housing Finance, BPCL, State Bank of India and ICICI Bank are losing sheen on NSE.
 
The INDIA VIX is up 9.14% at 12.61.

Housing finance companies slip in trade

Housing finance companies took a beating during the Friday morning trading session. Almost all companies were trading in red territory, except HUDCO and SRG Housing Finance which were trading flat.
 
Sahara Housingfina Corporation was trading lower by 7.8% at Rs 51.15 per share at 1032 hours on BSE. It was the top losing stock amongst other housing finance companies.
 
India Home Loan was down 4.5% at Rs 110.25 per share, Indiabulls Housing Finance was down 4.2% at Rs 1066.95 per share, Dewan Housing Finance Corporation was down 3.4% at Rs 440.50 per share and PNB Housing Finance was also down 2.9% at Rs 1,532.40 per share.
 
Other stocks viz. Can Fin Homes was down 2.8% at Rs 3,156.90 per share, Repco Home Finance was down 2.3% at Rs 847 per share, LIC Housing Finance was down 1.7% at Rs 756.15 per share and GIC Housing Finance was also trading lower by 1.3% at Rs 581.35 per share.

Live Stock Market Updates – Nifty slips below 9600, Oil & Gas companies lose steam

The BSE Oil & Gas is one of the top losing indices in Friday’s morning session. It is down 1.1% at 13,310.
 
Indian Oil Corporation is contributing majorly to the index losses and dragging it to lower levels. IOC is down 2.9% at Rs 382.10 per share.
 
Other stocks in the index viz. ONGC is down 1.2% at Rs 158.50 per share, BPCL is down 1.7% at Rs 631.20 per share, GAIL is down 1.6% at Rs 353.95 per share, HPCL is down by 0.9% at Rs 507 per share, Indraprastha Gas is down 1.8% at Rs 1056.90 per share, Oil India is down 1.6% at Rs 278 per share and Castrol India is also trading lower by 0.9% at Rs 408.15 per share.
 
Meanwhile, Fortis Healthcare tanked following the statement by IHH Healthcare Berhad that it is not close to concluding any negotiations to buy controlling stake in the pharmaceutical company, according to a leading business daily. It was down 9.7% at Rs 178.65 per share.
 
At 11 AM, the S&P BSE Sensex is trading at 31,222 down 68 points, while NSE Nifty is trading at 9,594 down 35 points. A total of 16 stocks registered a fresh 52-week high in trade today, while 35 stocks touched a new 52-week low on the NSE.
 
The BSE mid-cap Index is trading down 1.18% at 14,588, while BSE small-cap Index is trading down 1.45% at 15,383.
 
Some buying activity is seen Information Technology index, while Metal, Oil & Gas and Realty indices are showing weakness on BSE.
 
Wipro, Power Grid, Sun Pharma and NTPC are among the gainers, Indiabulls Housing Finance, Bosch, IOC and GAIL are losing on the NSE.
 
The INDIA VIX is up 3.5% at 11.6.

Live Stock Market Updates: Nifty near day’s low; FMCG stocks gain

Nifty FMCG index is trading marginally higher by 27 points at 26082 level. Major FMCG stocks have been restricting the losses of major indices in the market.
 
Godrej Industries is the top gainer in the Nifty FMCG index trading higher by 0.76% at Rs 650.65 per share. FMCG heavyweights, Hindustan Unilever and ITC are also trading in positive territory higher by 0.62% and 0.21% respectively.
 
There are 780 advances, 763 declines and 401 unchanged stocks on NSE reflecting mixed sentiments floating in the market.
 
At 11 AM, the S&P BSE Sensex is trading at 31217 down 79 points, while NSE Nifty is trading at 9616 down 36 points. A total of 38 stocks registered a fresh 52-week high in trade today, while 36 stocks touched a new 52-week low on the NSE.
 
The BSE Mid-cap Index is trading up 0.01% at 14846, while BSE Small-cap Index is trading up 0.32% at 15729.
 
Some buying activity is seen in Capital Goods, Telecom, and Consumer Durables while Oil & Gas, Energy, Finance are showing weakness on BSE.
 
Bank of Baroda, LT, Hindustan Unilever, Reliance, Asian Paints are among the gainers, whereas Lupin, ONGC, Eicher Motors, BPCL and Power Grid are losing sheen on NSE.
 
The INDIA VIX is up 1.29% at 10.79.

IPO Alert: CDSL oversubscribed 9.48 times

CDSL IPO continued to get a huge response from the investors. The IPO issue had got oversubscribed on its first day of subscription. On its last day of subscription on Wednesday, the issue has got oversubscribed by 9.48x.
 
The total issue size of the IPO stands at 2,48,27,046 shares. As per the data available with the National Stock Exchange as of 1100 hours on Wednesday, the total bids received stood at 23,53,95,600 shares and the total bids received at cut-off price stood 12,70,84,000 shares. The issue got oversubscribed by Institutional investors by 7.29 times, HNIs by 6.04 times and Retail investors by 13.39 times.
 
After the blockbuster entry of BSE in the capital markets, investors have braced themselves for the BSE promoted CDSL IPO.  The IPO closes on June 21, 2017.
 
The IPO is going to follow book building issue, wherein price band is fixed at Rs 145 per share to Rs 149 per share. The minimum order quantity is one market lot which consists of 100 shares. The issue size stands at 35,167,208 equity shares with face value of Rs 10 per share aggregating up to Rs 523.99 crore and offer for sale of 35,167,208 equity shares with face value of Rs 10 per share.
 
The important objectives of the offer include to achieve the benefits of listing the equity share on the NSE and to enhance its visibility and brand image and provide liquidity to its existing shareholders.

Markets likely to open lower post Fed rate hike

Indian equity markets are likely to open lower on Thursday, tracking negative cues across Asian markets. The SGX Nifty, which was trading with losses of 41 points at 9,601, indicated that domestic bourses may open lower at the opening bell.
 
Nifty50 index has immediate support placed around the level of 9,580, and if it holds below this level, further corrections up to the level of 9,550 is likely. On the upside, Nifty50 needs to sustain above the level to witness up-move towards the levels of 9,700-9,740. 
 
Back home, Indian markets ended with modest gains after a volatile session on Wednesday, led by gains in banking and realty stocks. Index heavyweight Reliance Industries gained about 3% after the data released by TRAI showed strong April subscriber addition, although broader market sentiment was muted ahead of the U.S Federal Reserve meeting.
 
The US stocks closed mixed on Wednesday after Fed hiked rates. The Dow Jones Industrial Average closed up 46 points at a record 21,375. The S&P 500 declined 2 points to finish at 2,438. The Nasdaq Composite Index slipped 25 points to close at 6,195. The US Federal Reserve hiked the Fed rate by 25 basis points along expected lines. The enhanced rate now stands in the range of 1-1.25%. Fed has also guided on one more rate hike this year.
 
Most Asian stocks have declined in early trade on Thursday. Japan’s Nikkei 225 has been trading with loss of 105 points; Hong Kong’s Hang Seng has lost 239 points, while China’s Shanghai Composite has shed 8 points

Live Stock Market Updates – Nifty breaches 9600, PSU bank rise

Nifty PSU Bank index gained nearly 0.5% in morning trade after the Reserve Bank of India announced steps to speed up NPA resolution process by identifying 12 accounts that can be immediately taken up under the Insolvency and Bankruptcy Code (IBC).
 
At 10 AM, the S&P BSE Sensex is trading at 31103 down 0.3 points, while NSE Nifty is trading at 9591 down 15 points. A total of 65 stocks registered a fresh 52-week high in trade today, while 24 stocks touched a new 52-week low on the NSE.
 
There are 659 advances, 864 declines and 423 unchanged stocks on NSE reflecting a bullish floating in the market.
 
The BSE Mid cap Index is trading down 0.6% at 14705, while BSE Small cap Index is trading down 0.1% at 15497.
 
Some buying activity is seen in Oil & Gas, Power and Realty and Bankex, Auto, Telecom and Finance showing weakness on BSE.
 
Reliance, Dr Reddy, Power Grid, TCS, Hero MotoCorp, ICICI Bank are among the gainers, whereas Hindalco, Vedantat, Wipro, Tata Steel, YES Bank are losing on the NSE.

Tejas Networks IPO to open for subscription today

Tejas Networks Limited proposes to open on Wednesday, June 14, 2017, an initial public offering of equity shares of face value of Rs 10 each for cash, comprising of a fresh issue of equity shares aggregating up to Rs 4,500 million and an offer for sale of up to 12,711,605 equity shares by Selling Shareholders. The bid or offer will close on Friday, June 16, 2017.

The price band for the offer is fixed from Rs 250 to Rs 257 per equity share. Bids can be made for a minimum of 55 Equity Shares and in multiples of 55 equity shares thereafter.
 
The Book Running Lead Managers (BRLMs) to the offer are Axis Capital Limited, Citigroup Global Markets India Private Limited, Edelweiss Financial Services Limited and Nomura Financial Advisory and Securities (India) Private Limited.
 
The company may, in consultation with the BRLMs, consider participation by Anchor Investors in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended (SEBI ICDR Regulations). The Anchor Investor Bid/ offer Period shall be one Working Day prior to the Bid/Offer Opening Date; i.e., Tuesday, June 13, 2017.
 
The Equity Shares offered through the RHP are proposed to be listed on BSE Limited (BSE) and National Stock Exchange of India Limited (NSE).

At 9:15 AM, the BSE Sensex opened higher by 44 points at 31147, while the Nifty50 opened higher by 15 points at 9621 mark.

Dr Reddy’s is the top Nifty gainer and Tata Power is the top Nifty loser in the morning hours. 
 
There are 827 advances, 590 declines and 513 unchanged stocks on NSE reflecting some positive bias floating in the market.
 
The level of 9,700 is likely to act as a strong barrier for the Nifty50. If it holds above the level of 9,700, a rally is likely up to the level of 9,730. On the downside, the support for Nifty50 index is placed in the region of 9,620-9,630.
 
Nifty50 index has immediate support placed around the level of 9,580 and if it holds below this level, further corrections up to the level of 9,550 is likely. On the upside, the level of 9,640-9,650 is likely to act as a resistance for the Nifty50, if it holds above the level of 9,640-9,650, it may scale up to the level of 9,700.
 
The rupee opened flat at 64.34 per US dollar.  On Wednesday, the rupee closed at 64.34 against the American dollar, up 0.16% from its Monday’s close of 64.44.
 
The US stocks moved to the upside early in the session and remained firm throughout the trading session on Tuesday. The Dow and the S&P 500 both closed at record levels. The Nasdaq Composite Index surged 45 points to close at 6,220. The Dow Jones Industrial Average climbed 93 points to end at 21,328. The S&P 500 rose 11 points to close at 2,440.
 
Asian stocks were trading mixed in early trading on Wednesday. Japan’s Nikkei 225 has been trading with gains of 62 points; Hong Kong’s Hang Seng has lost 53 points, while China’s Shanghai Composite has shed 11 points.

Lack of triggers may see markets opening flat

Indian equity markets are likely to open flat on Wednesday, tracking mixed trading across Asian markets. The SGX Nifty, which was trading with marginal loss of 4 points at 9,612, indicated that domestic bourses may open flat at the opening bell.
 
Nifty50 index has immediate support placed around the level of 9,580 and if it holds below this level, further corrections up to the level of 9,550 is likely. On the upside, the level of 9,640-9,650 is likely to act as a resistance for the Nifty50, if it holds above the level of 9,640-9,650, it may scale up to the level of 9,700.
 
Back home, Indian market opened flat, but soon after opening, it scaled higher. However, it failed to sustain at the higher levels and it erased earlier gains to end flat on Tuesday. IT and auto stocks were laggards. On the other hand, support came in for Power Grid, Lupin, NTPC and HDFC.
 
The US stocks moved to the upside early in the session and remained firm throughout the trading session on Tuesday. The Dow and the S&P 500 both closed at record levels. The Nasdaq Composite Index surged 45 points to close at 6,220. The Dow Jones Industrial Average climbed 93 points to end at 21,328. The S&P 500 rose 11 points to close at 2,440.
 
Asian stocks were trading mixed in early trading on Wednesday. Japan’s Nikkei 225 has been trading with gains of 62 points; Hong Kong’s Hang Seng has lost 53 points, while China’s Shanghai Composite has shed 11 points.