Monday, 28 November 2016

Live Stock Market Updates - Sensex, Nifty languish in red

The BSE Mid-cap Index is trading up 0.54% at 12,249, whereas BSE Small-cap Index is trading up 0.50% at 12,088. The INDIA VIX is down 2.59% at 17.1500.

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The Indian stock market has opened in red as the Sensex is down 118.97 points, while the Nifty50 is down 39.25 points. Banking stocks slip in opening trade after RBI hikes CRR on incremental deposits. The central bank hopes to curtail surging banking system liquidity that risks stocking inflation.
 
Commodity market tips

The S&P BSE Sensex is trading at 26,324, up mere eight points, while NSE Nifty is trading at 8,109 down mere five points. Out of 1,865 stocks traded on the NSE, 499 declined, 929 advanced and 437 remained unchanged today.

A total of 10 stocks registered a fresh 52-week high in trade today, while five stocks touched a new 52-week low on the NSE.

The BSE Mid-cap Index is trading marginally up 0.54% at 12,249, whereas BSE Small-cap Index is trading up 0.50% at 12,088.

Commodity market tips

BPCL, Asian Paints, Bosch, Cipla, ZEE and Tech Mahindra are among the gainers, whereas Bank of Barogda, SBI, Yes Bank and ICICI Bank are losing sheen on BSE.

Some buying activity is seen in media, metal, auto, pharma and IT sectors, while PSU Bank, Bank Nifty and Private Bank are showing weakness on NSE.

The INDIA VIX is down 2.59% at 17.1500.

The Indian rupee opened higher by four paise at 68.42/$ against the previous close of 68.46/$.

The demonetisation drive of the government is likely to see some protests on the street in various parts of the country as few political parties have joined hands for ‘Akrosh Divas.’

Parliament may see less activity today as attention will be on the protests and dealing with the Opposition tirade. The old tradition of Black Friday is losing its charm abroad; online sales on Thanksgiving and Black Friday rose about 18 pc to $5.27 bn.

Saudi Arabia seems to suggest that oil producers need not reduce output. With the Dow Jones having crossed the key milestone of 19000 & the S&P 2200 markets could see consolidation globally as investors take stock of the last fortnight. Also the rise in bond yields in tandem with the US $ may not last & pause here would be prudent as markets digest the gains.

Falling crude prices cooled Asian shares while the dollar has stepped back against Asian peers. India’s foreign exchange reserves fell for the second consecutive by $1.542 bn to $365.5 bn in the week ended Nov 18.



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