The possibility of a Fed rate hike in December has also dampened the investors’ sentiment. Markets had a knee jerk reaction yesterday to BJP’s loss in Bihar elections thus fearing that the key reforms may again get stalled in the winter session of Parliament, which begins end of November.
At 11 AM, the Sensex was at 25,950, down by 170 points while the Nifty opened at 7,853 levels, down by 63
Shares of Interglobe Aviation, the company that operates IndiGo airlines, made its debut today, listing at Rs 856, up 12 per cent.
The top gainers on the Sensex are Hero Motocorp, Bajaj Auto, M&M, Axis Bank and Maruti, all up between 0.7-1.5% each
The top losers on the Sensex are GAIl, BHEL, Hindalco, Dr Reddy’s, and ONGC, all down between 1-4% each
----------------------------------------
(updated 9:40 am)
Markets, extending their losses from yesterday, opened the session on a lower note tracking weak global cues as investors are wary of a possibility of the US Fed rate hike in December.
At 9:40 AM, the Sensex was at 26,018, down by 102 points while the Nifty opened at 7,877 level, down by 38
Interglobe,The broader markets are displaying a divergent trend with BSE Midcap index was down by 0.3% while BSE Smallcap index is up by 0.2%. The market breadth is positive with 669 advances against 459 declines on the BSE.
Also, market participants would be on an edge today as some of the notable companies are expected to announce their quarterly results today.
On the earnings front, Hindalco, NMDC, J Kumar Infra among others are likely to release their results today
GLOBAL MARKET
Asian shares are trading lower on prospects of an interest rate hike by the Federal Reserve in the month of December on the back of strong US jobs data indicating a strong US economy. Japan’s Nikkei, Hong Kong’s Hang Seng dropped between 0.5-1.2%. Meanwhile, China’s Shanghai Composite is ytrading flat with a positive bias.
SECTORS AND STOCKS
Sectorally, BSE Consumer Durables is up 1% while BSE Metal index is down 1.1%
The top gainers on the Sensex are Axis Bank, Tata Motors, Bajaj Auto, Hero Motocopr and ICICI Bank, all up between 0.6-1% each
The top losers on the Sensex are BHEL, Hindalco, Dr. Reddy’s Gail and ONGC, all down between 1.4-2.6% each.
Tata Motors has extended its gains from yesterday and has advanced nearly 1% on the Sensex on the back of a new proposed cost cutting plan of JLR.
ONGC has slipped again today on the back of a disappointing quarter. The stock is down by 2.7%
Hindalco is expected to announce the quarterly results today. The stock has dipped 2.5%
Extending its losses for the second day, Dr. Reddy’s has dropped another 1.7% on the back of the warning letter issued by the US Food and Drug Administration (USFDA)
Shares of Interglobe Aviation, the company that operates IndiGo airlines, will make their trading debut today on the bourses. Interglobe has fixed the issue price at Rs 765 per share .
JSW Steel’s crude steel production fell 2 per cent to 10.22 lakh tonnes in October this year. The stock has dropped 0.5%
Nestle India is likely to remain in focus after Maggi returned to shop shelves in 100 cities on Monday, five months after the instant noodles brand was pulled out of the markets over safety concerns. The stock has reacted marginally and is up by 0.4%
Article Source: Business Standard
No comments:
Post a Comment