The India VIX (Volatility) index is up 6.04% to 17.55. Out of 1,742 stocks traded on the NSE, 1,212 declined and 187 advanced today.
The BSE Mid-cap Index is trading down 1.18% at 11,008, whereas BSE Small-cap Index is trading down 1.46% at 11,677.
All sector are showing weakness on BSE.
Lupin, SJVN, Vakrangee, HPCL and Kajaria Ceramics are among the gainers, whereas Tata Motors, Tata Steel, Adani Ports, Axis Bank and ICICI Bank are losing sheen on BSE.
The India VIX (Volatility) index is up 6.04% to 17.55. Out of 1,742 stocks traded on the NSE, 1,212 declined and 187 advanced today.
A total of 22 stocks registered a fresh 52-week high in trades today, while 12 stocks touched a new 52-week low on the NSE.
Indian Rupee opened at 66.88/$ weaker by 5 paise in early trade on Thursday as against the previous close of 66.83/$. Yesterday, Indian rupee lost ground against US dollar, impacted by weakness in global equities and strong demand for the greenback. On the global front, China’s stock market was suspended after shares crashed 7% leading to a lower circuit on the index.The Shanghai Composite Index plunged 6.75%. The Shenzhen Composite Index, tumbled over 8%. Meanwhile, People's Bank of China has set the Yuan’s reference rate at 6.5646, the lowest levels since April 2011. Offshore, the currency today is trading around 6.59 levels against the greenback. In order to stem the rout in the markets, Chinese central bank has injected further liquidity by initiating weekly reverse repos worth US$70bn.
Trading on China’s stock market was suspended after shares crashed 7% leading to a lower circuit on the index. The Shanghai Composite Index plunged 6.75%. The Shenzhen Composite Index, tumbled over 8%. Meanwhile, People's Bank of China has set the Yuan’s reference rate at 6.5646, the lowest levels since April 2011. Offshore, the currency today is trading around 6.59 levels against the greenback. In order to stem the rout in the markets, Chinese central bank has injected further liquidity by initiating weekly reverse repos worth US$70bn.
Global cues are weak and investors could get jittery and turn reluctant in taking exposure to equities. Many would remain on the sidelines to get a better idea of the corporate results as they start flowing in.
The World Bank said that India would remain by far the fastest growing large economy in 2016 even as it scaled down its global growth forecast. In its report titled Global Economic Prospects, the World Bank projected that the Indian economy will grow by 7.8% in 2016 while China will grow by 6.7%. The world economy would expand by 2.9%, a modest upturn from the 2.4% growth estimated for 2015. This still represents a downgrade from its June forecast for a 3.3% growth.
Finance Minister Arun Jaitley said that in the first half of FY16, the Indian Economy has achieved robust growth rate despite volatility and uncertainty in global economy. He said that this was made possible by a slew of policy measures undertaken by the present Government including enhanced public investment, kick starting stalled projects, improving the status of financial inclusion significantly, improving governance through systematic changes like open auction of natural resources like coal and spectrum in a transparent manner, and greater fiscal federalism and improving business environment through reforms in policies and regulation among others.
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