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.