Live Stock Market Updates – Sensex falls over 350 points; Nifty holds 8,500

sensex fallsThe Sensex and Nifty staged a gap down opening in trades today on the back of weak global cues. The domestic market dropped the most in four-weeks tracking a rout in global equities amid mounting anxiety ahead of next week’s American presidential election.The Nifty slipped below its crucial psychological level of 8,550 weighed down by losses in realty, power, oil & gas, metal, consumer durables, capital goods and banking stocks.

At 2:54 PM, the S&P BSE Sensex is trading at 27,580 down 296 points, while NSE Nifty is trading at 8,529 down 97 points.

The BSE Mid-cap Index is trading down 1.40% at 13,254 whereas BSE Small-cap Index is trading down 1.44% at 13,362.

NTPC, Dr Reddy’s, M&M and HUL are among the gainers, whereas ONGC, SBI, ICICI Bank, Adani Ports and GAIL are losing sheen on BSE.

All the BSE sectoral indices were trading in the negative territory.

The INDIA VIX is up 7.45% at 16.9075. Out of 1,871 stocks traded on the NSE, 1,337 declined, 182 advanced and 352 remained unchanged today.

A total of 19 stocks registered a fresh 52-week high in trade today, while nine stocks touched a new 52-week low on the NSE.

TajGVK Hotels & Resorts Ltd is currently trading at Rs 126.5, up by Rs 5.3 or 4.37% from its previous closing of Rs 121.2 on the BSE. The company reported net profit at Rs 3.4 crore for the quarter ended September 30. EBITDA increased by 39.5% yoy to Rs 15.7 crore while EBITDA margins increased by 526 bps yoy to 23.9% driven by operational efficiencies.

Zensar Technologies Ltd is currently trading at Rs 1048, up by Rs 116.7 or 12.53% from its previous closing of Rs 931.3 on the BSE. Zensar Technologies Limited, an RPG Company and the shareholders of Foolproof Ltd. today announced that they have entered into a definitive agreement for Zensar to acquire Foolproof Limited along with its two wholly owned subsidiary companies in UK and one wholly owned subsidiary Company in Singapore for an undisclosed sum.

Mahindra & Mahindra Ltd climbed 3% on the BSE after the automaker’s sales grew 1% which included a 28% jump in exports for the month of October.

Bharti Infratel Ltd is currently trading at Rs 369.9, up by Rs 14.7 or 4.14% from its previous closing of Rs 355.2 on the BSE.

DCB Bank slipped 1% after huge block deal.Around 1.23 million shares of the bank has changed hands in a two block deal.

Bajaj Auto is trading lower after the company said that its domestic motorcycle sales rose 5% in the month of October 2016, at 212,997 units as against 202,042 units in the same month of last year.

MIC Electronics tumbled 9% to Rs 16 on BSE after consolidated net profit declined 71.6% to Rs 2 crore on 2% rise in net sales to Rs 54 crore in Q2 September 2016 over Q2 September 2015.

Cox & Kings slipped 1% after the company has partnered with UAE Exchange India, the leading financial institution, to provide Inward remittance and domestic money transfer services in India.

Escorts is trading marginally lower on BSE after the company reported strong tractor sales in October 2016 over October 2015. Domestic tractor sales rose 52% to 8,859 units in October 2016 over October 2015. Export rose 270% to 111 units in October 2016 over October 2015.

Dabur India advanced 1.3% after the company is planning to acquire personal care business of CTL group in South Africa, as per media reports.The acquisition will mark Dabur’s entry into the South African personal care market, the company said in a statement.

MOIL rallied 5.6%  to Rs 381. The company has increased prices of various grades of manganese ore for the October-December quarter effective from November 1, 2016. The prices have been increased by 30% on the existing prices of all Ferro Grades of ore, while prices have been increased by 25% on all grades of SMGR (Mn 30%) and SMGR Low (Mn 25%) on the prevailing prices.

Lupin is trading lower on the BSE. The pharma company said that it has received final approval from the USFDA to market norgestimate and ethinyl estradiol tablets marked for use by females of reproductive potential to prevent pregnancy.

Tata Motors fell 2.6%. The company sold 16,311 units of passenger vehicles in October, up 28% from the year ago. Jaguar Land Rover, a wholly owned subsidiary of Tata Motors, reported 7% year-on-year rise in US October sales figures.

Coal India is trading 1% lower at Rs 326. Coal India produced 273.57 million tonnes (MT) of coal in the first seven months of the ongoing fiscal, lower than the 307 MT target, as per media reports.

Majesco zoomed 2.8%. The company reported a consolidated net profit of Rs 7 crore for the quarter ended September 30, 2016 against net loss of Rs 0.78 crore in the same quarter a year ago.

VST Industries slipped 2.8% to Rs 2,400. VST Industries reported 11% rise in net profit at Rs 35 crore for the quarter ended September 30, 2016 against Rs 32 crore in the corresponding quarter a year ago.

IL&FS Engineering is trading marginally lower. The company will announce its Q2 numbers today.

Maithan Alloys tanked 12.3%. The company informed BSE that due to adverse market conditions, the production at the Kalyaneshwari Plant has been cut by 15 per cent with effect from October 31, 2016. Between July and October 2016, the cost of imported manganese ore, which accounts for the major cost of production has increased by 200%, imported coke by 80%, whereas the sales price of silico manganese, the finished product, has increased only by 30%.

BGR Energy Systems slumped 3%. BGR Energy Systems  received a contract worth Rs.2,600 crore from Tamil Nadu Generation and Distribution Corp. Ltd for the execution of a thermal power project. The contract should be completed in three years.

NHPC inched up 0.19% after the company announced commissioning of a 50MW wind power project in Rajasthan.

Ujaas Energy zoomed 14.4%. The company has bagged an order from Airports Authority of India for design, manufacturing and commissioning of rooftop grid-connected solar photovoltaic system.

Central Bank of India slipped 1.3%. The board on Tuesday considered and approved raising of equity capital by issuance and allotment of up to 1.71 crore equity shares of the face value of Rs 10 each at the issue price of Rs 91.45 per equity share aggregating to Rs 156.79 crore to Life Insurance Corporation of India including its various schemes on preferential basis.

The rupee opened lower by eight paise at 66.78/$ as against the previous close of 66.70/$.

Asian markets opened weak as overnight US indices triggered a sharp correction in global markets with Europe, Latin America following suit. This after pollsters predicted a closer than expected result in the US elections on the 8th November which showed both candidates evenly poised. This set the “cat among st the pigeons’ & the Dow Jones slipped to July levels from where the rally started giving up all the gains of the last 4 months.

Expect high volatility as data is analysed by experts & opinion on the results keeps market on the tenter hooks. Gold continues to hit new highs as uncertainty drives the price higher.

The Fed meet underway is expected to keep rates unchanged. Investors have priced in a status quo for now ahead of the US Presidential elections.

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Live Stock Market Updates – Sensex Slips Over 250 Points; Realty, Banking, IT Drag

stock market crash todayThe Sensex and Nifty staged a gap down opening in trades today on the back of weak global cues. The domestic market dropped the most in four-weeks tracking a rout in global equities amid mounting anxiety ahead of next week’s American presidential election.The Nifty slipped below its crucial psychological level of 8,550 weighed down by losses in realty, power, oil & gas, metal, consumer durables, capital goods and banking stocks.

At 1:42 PM, the S&P BSE Sensex is trading at 27,594 down 282 points, while NSE Nifty is trading at 8,536 down 91 points.

The BSE Mid-cap Index is trading down 1.40% at 13,254 whereas BSE Small-cap Index is trading down 1.44% at 13,362.

NTPC, Dr Reddy’s, M&M and HUL are among the gainers, whereas ONGC, SBI, ICICI Bank, Adani Ports and GAIL are losing sheen on BSE.

All the BSE sectoral indices were trading in the negative territory.

The INDIA VIX is up 7.45% at 16.9075. Out of 1,871 stocks traded on the NSE, 1,337 declined, 182 advanced and 352 remained unchanged today.

A total of 19 stocks registered a fresh 52-week high in trade today, while nine stocks touched a new 52-week low on the NSE.

Mahindra & Mahindra Ltd climbed 3% on the BSE after the automaker’s sales grew 1% which included a 28% jump in exports for the month of October.

Bharti Infratel Ltd is currently trading at Rs 369.9, up by Rs 14.7 or 4.14% from its previous closing of Rs 355.2 on the BSE.

DCB Bank slipped 1% after huge block deal.  Around 1.23 million shares of the bank has changed hands in a two block deal.

Bajaj Auto is trading lower after the company said that its domestic motorcycle sales rose 5% in the month of October 2016, at 212,997 units as against 202,042 units in the same month of last year.

MIC Electronics tumbled 9% to Rs 16 on BSE after consolidated net profit declined 71.57% to Rs 2 crore on 2% rise in net sales to Rs 53.97 crore in Q2 September 2016 over Q2 September 2015.

Cox & Kings slipped 1% after the company has partnered with UAE Exchange India, the leading financial institution, to provide Inward remittance and domestic money transfer services in India.

Escorts is trading marginally lower on BSE after the company reported strong tractor sales in October 2016 over October 2015. Domestic tractor sales rose 51.9% to 8,859 units in October 2016 over October 2015. Export rose 270% to 111 units in October 2016 over October 2015.

Dabur India advanced 1.3% after the company is planning to acquire personal care business of CTL group in South Africa, as per media reports.The acquisition will mark Dabur’s entry into the South African personal care market, the company said in a statement.

MOIL rallied 5.6%  to Rs 381. The company has increased prices of various grades of manganese ore for the October-December quarter effective from November 1, 2016. The prices have been increased by 30% on the existing prices of all Ferro Grades of ore, while prices have been increased by 25% on all grades of SMGR (Mn 30%) and SMGR Low (Mn 25%) on the prevailing prices.

Lupin is trading lower on the BSE. The pharma company said that it has received final approval from the USFDA to market norgestimate and ethinyl estradiol tablets marked for use by females of reproductive potential to prevent pregnancy.

Tata Motors fell 2.6%. The company sold 16,311 units of passenger vehicles in October, up 28% from the year ago. Jaguar Land Rover, a wholly owned subsidiary of Tata Motors, reported 7% year-on-year rise in US October sales figures.

Coal India is trading 1% lower at Rs 326. Coal India produced 273.57 million tonnes (MT) of coal in the first seven months of the ongoing fiscal, lower than the 307 MT target, as per media reports.

Majesco zoomed 2.8%. The company reported a consolidated net profit of Rs 7 crore for the quarter ended September 30, 2016 against net loss of Rs 0.78 crore in the same quarter a year ago.

VST Industries slipped 2.8% to Rs 2,400. VST Industries reported 11% rise in net profit at Rs 35 crore for the quarter ended September 30, 2016 against Rs 32 crore in the corresponding quarter a year ago.

IL&FS Engineering is trading marginally lower. The company will announce its Q2 numbers today.

Maithan Alloys tanked 12.3%. The company informed BSE that due to adverse market conditions, the production at the Kalyaneshwari Plant has been cut by 15 per cent with effect from October 31, 2016. Between July and October 2016, the cost of imported manganese ore, which accounts for the major cost of production has increased by 200%, imported coke by 80%, whereas the sales price of silico manganese, the finished product, has increased only by 30%.

BGR Energy Systems slumped 3%. BGR Energy Systems  received a contract worth Rs.2,600 crore from Tamil Nadu Generation and Distribution Corp. Ltd for the execution of a thermal power project. The contract should be completed in three years.

NHPC inched up 0.19% after the company announced commissioning of a 50MW wind power project in Rajasthan.

Ujaas Energy zoomed 14.4%. The company has bagged an order from Airports Authority of India for design, manufacturing and commissioning of rooftop grid-connected solar photovoltaic system.

Central Bank of India slipped 1.3%. The board on Tuesday considered and approved raising of equity capital by issuance and allotment of up to 1.71 crore equity shares of the face value of Rs 10 each at the issue price of Rs 91.45 per equity share aggregating to Rs 156.79 crore to Life Insurance Corporation of India including its various schemes on preferential basis.

The rupee opened lower by eight paise at 66.78/$ as against the previous close of 66.70/$.

Asian markets opened weak as overnight US indices triggered a sharp correction in global markets with Europe, Latin America following suit. This after pollsters predicted a closer than expected result in the US elections on the 8th November which showed both candidates evenly poised. This set the “cat among st the pigeons’ & the Dow Jones slipped to July levels from where the rally started giving up all the gains of the last 4 months.

Expect high volatility as data is analysed by experts & opinion on the results keeps market on the tenter hooks. Gold continues to hit new highs as uncertainty drives the price higher.

The Fed meet underway is expected to keep rates unchanged. Investors have priced in a status quo for now ahead of the US Presidential elections.

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US poll spooks market but S&P retains stable outlook on India

Sensex market Indian investors are spooked as global markets fall after multiple polls project Donald Trump’s ahead of the US Presidential elections. The Sensex is down 278.50 points or 1 percent at 27598.11, and the Nifty is down 89.95 points or 1 percent at 8536.30. About 788 shares have advanced, 1941 shares declined, and 94 shares are unchanged.

However, there are good news for India as S&P has affirmed BBB-/A-3 rating on India with stable outlook. The rating agency does not expect to change rating on India this or next year. It reiterated that downward pressure could re-emerge if Monetary Policy Committee is not effective in meeting its target.

It expects India to fund current account deficit mostly with inflows without adding to debt, and banking regulator Reserve Bank of India to achieve inflation target of 5 percent by March 2017.

Meanwhlie, ONGC, Tata Motors, SBI, BHEL and Sun Pharma are losers in the Sensex. M&M, HUL and NTPC are gainers.

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Top 17 Stocks in Focus Today: Tata Motors, Lupin, Dabur

Top Stocks For TodayDabur India Ltd: The company is planning to acquire personal care business of CTL group in South Africa, as per media reports.The acquisition will mark Dabur’s entry into the South African personal care market, the company said in a statement.

Moil: MOIL signed a pact with Madhya Pradesh government to conduct mineral exploration in the state.

Lupin: The pharma company said that it has received final approval from the USFDA to market norgestimate and ethinyl estradiol tablets marked for use by females of reproductive potential to prevent pregnancy.

Jubilant Life Sciences: The company has received approval from the US health regulator to market Rosuvastatin Calcium tablets, used for the treatment of hyperlipidemia, in the American market.

Tata Motors Ltd: Tata Motors sold 16,311 units of passenger vehicles in October, up 28% from the year ago. Jaguar Land Rover, a wholly owned subsidiary of Tata Motors, reported 7 per cent year-on-year rise in US October sales figures.

Coal India:  Coal India  produced 273.57 million tonnes (MT) of coal in the first seven months of the ongoing fiscal, lower than the 307 MT target, as per media reports.

Gujarat State Petroleum Corp, ONGC: Gujarat government-owned company Gujarat State Petroleum Corp may hive off the Deen Dayal field in the Krishna-Godavari basin into a separate asset if Oil and Natural Gas Corp. Ltd decides to buy a stake in it, as per media reports.

Majesco: The company reported a consolidated net profit of Rs 7 crore for the quarter ended September 30, 2016 against net loss of Rs 0.78 crore in the same quarter a year ago.

Dena Bank and State Bank of Bikaner and Jaipur: Both public sector lenders on Tuesday slashed benchmark lending rates by up to 0.1%.

VST Industries: VST Industries reported 11% rise in net profit at Rs 35 crore for the quarter ended September 30, 2016 against Rs 32 crore in the corresponding quarter a year ago.

Amtek Auto: The company is expected to shortlist bidders for its German division Tekfor as soon as next week.

Eicher Motors: Royal Enfield, the two-wheeler division of Eicher Motors, on Tuesday posted a 33 per cent rise in total sales at 59,127 units in October.

IL&FS Engineering: The company will announce its Q2 numbers today.

Maithan Alloys: The company informed bourses that due to adverse market conditions, the production at the Kalyaneshwari Plant has been cut by 15 per cent with effect from October 31, 2016. Between July and October 2016, the cost of imported manganese ore, which accounts for the major cost of production has increased by 200 per cent, imported coke by 80%, whereas the sales price of silico manganese, the finished product, has increased only by 30%.

BGR Energy Systems: BGR Energy Systems  received a contract worth Rs.2,600 crore from Tamil Nadu Generation and Distribution Corp. Ltd for the execution of a thermal power project. The contract should be completed in three years.

Strides Shasun: Strides Shasun got approval from the US Food and Drug Administration for anti-retroviral Abacavir tablets used for the treatment of patients with HIV infection.

Godrej Properties: Godrej Properties announced that it has sold over 60,000 sq meters of villas with a booking value in excess of Rs 300 crore in a single day at the launch of its first project, Crest, at its 100 acre township Godrej Gold Links.

NHPC: NHPC announced commissioning of a 50MW wind power project in Rajasthan.

Ujaas Energy: The company has bagged an order from Airports Authority of India for design, manufacturing and commissioning of rooftop grid-connected solar photovoltaic system.

Central Bank of India: The board on Tuesday considered and approved raising of equity capital by issuance and allotement of up to 1.71 crore equity shares of the face value of Rs 10 each at the issue price of Rs 91.45 per equity share aggregating to Rs 156.79 crore to Life Insurance Corporation of India including its various schemes on preferential basis.

Dabur India Ltd
BSE 291.35 1.30 (0.45%)
NSE 290.95 [0.30] ([0.10]%)

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Opening Bell – Sensex falls over 250 points; Metal, Banking stocks drag

stock market downAt 9:15 AM, the S&P BSE Sensex is trading at 27,597 down 279 points, while NSE Nifty is trading at 8,542 down 83 points.

The rupee opened lower by eight paise at 66.78/$ as against the previous close of 66.70/$.

Asian markets opened weak as overnight US indices triggered a sharp correction in global markets with Europe, Latin America following suit. This after pollsters predicted a closer than expected result in the US elections on the 8th November which showed both candidates evenly poised. This set the “cat among st the pigeons’ & the Dow Jones slipped to July levels from where the rally started giving up all the gains of the last 4 months.

Expect high volatility as data is analysed by experts & opinion on the results keeps market on the tenter hooks. Gold continues to hit new highs as uncertainty drives the price higher.

The Fed meet underway is expected to keep rates unchanged. Investors have priced in a status quo for now ahead of the US Presidential elections.

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Live Stock Market Updates – Nifty trades below 8650

Dalal Street CapitalHeight

The domestic market are trading flat as global investors remained cautious as the acrimonious US presidential election campaign entered its final week. The Bank of Japan on Tuesday held off on expanding stimulus and maintained short-term interest rate target. Market is also watching global cues, with the U.S. Federal Reserve’s meeting set to begin on Tuesday, which could provide clues on a December rate hike.

The Indian equity market opened higher on Tuesday after Chinese manufacturing gauges climbed to two-year highs and Bank of Japan kept monetary rates unchanged.

At 1:36 PM, the S&P BSE Sensex is trading at 28,009 up 78 points, while NSE Nifty is trading at 8,662 up 36 points.

The Nikkei Markit India Manufacturing Purchasing Managers’ Index (PMI) a gauge of manufacturing performance jump to 54.4 in October from 52.1 in September, indicative of a robust improvement in manufacturing business conditions in the country. Manufacturing sector growth in India hit a 22-month high in October, driven by a sharp and accelerated increase in new orders, purchasing activity and output.

The BSE Mid-cap Index is trading up 0.37% at 13,523 whereas BSE Small-cap Index is trading up 0.21% at 13,612.

HDFC, Hero MotoCorp, Tata Steel, Lupin and Adani Ports are among the gainers, whereas ONGC, Axis Bank, Infosys, M&M, Coal India and Sun Pharmaceuticals are losing sheen on BSE.

Some buying activity is seen in metal, telecom, power, utilities and basic materials sectors, while consumer durables, banking,power, IT, teck and FMCG are showing weakness on BSE.

The INDIA VIX is up 0.85% at 15.6225. Out of 1,888 stocks traded on the NSE, 760 declined, 832 advanced and 296 remained unchanged today.

A total of 115 stocks registered a fresh 52-week high in trade today, while 10 stocks touched a new 52-week low on the NSE.

Ashok Leyland Ltd is currently trading at Rs 91.55, up by Rs 0.2 or 0.22% from its previous closing of Rs 91.35 on the BSE. The company posted its total sales in October at 12,533 vehicles versus 9,803 vehicles last year. The company said October M&HCV sales were at 9,574 vehicles versus 7,176 vehicles last year. Its LCV sales stood at 2,959 vehicles compared to 2,627 vehicles last year.

PC Jeweller Ltd is currently trading at Rs 497.5, down by Rs 13.55 or 2.65% from its previous closing of Rs 511.05 on the BSE.

Nihar Info Global Ltd advanced 1.6%. The company has received the Purchase Orders from My Home Constructions, Rain Industries and Pamidi RSB Build Tech in the last ten days.

Eicher Motors jumped 3% after the company reported a 33% increase in total sales in October 2016 at 59,127 units as against 44,522 units in the same month last year. During October 2016, the number of motorcycle units exported, increased by 95% to 748 units from 384 units in October 2015.

Strides Shasun Limited gained 1% after the company announced that it has received approval from the United States Food & Drug Administration (USFDA) for Abacavir Tablets USP, 300 mg.

Maruti Suzuki dropped 0.32% to Rs 5,880 after its sales dipped in the month of October. The company sold 1,33,793 units in October compared to 1,34,209 vehicles in October 2015.

BGR Energy Systems soared 5.3% after the company has been awarded the Balance of Plant (BoP) Contract from TANGEDCO for 1×800 MW North Chennai Thermal Power Project – Stage III. BGR Energy secured this contract in an International  competitive bidding which witnessed stiff competition. The value of the contract is Rs 2,600 crore The contract completion period is 36 months from the date of award.

Allcargo Logistics rose 1% to Rs 191 after the company said its board will meet on 7 November 2016, to consider a proposal for buyback of the equity shares of the company.

Sical Logistics gained 2% to Rs 222.10 after the company securing contract from West Bengal Power Distribution Corporation.

Kitex Garments tanked 10.4% to Rs 458 on BSE after net profit fell 52.4% to Rs 12.92 crore on 20.5% decline in net sales to Rs 95.55 crore in Q2 September 2016 over Q2 September 2015.

Bharti Infratel zoomed 2%. KKR and pension giant Canada Pension Plan Investment Board (CPPIB) are in talks with Bharti Airtel to acquire a significant stake in its listed tower arm Bharti Infratel, as per media reports.

Reliance Industries is trading marginally higher on the BSE. The Directorate General of Hydrocarbons is understood to have computed the penalty payable by Reliance Industries (RIL) for exploiting natural gas that migrated to its KG-D6 block from ONGC’s adjacent asset at upwards of $1 bn, as per media reports.

NBCC inched up 1% after the government will engage state-run construction company NBCC to monetise around 771 acre of prime land held by erstwhile VSNL, a company that the government had sold to the Tata group in 2002 as part of its asset-sale programme.

ONGC slipped 1% to Rs 287.  ONGC Videsh Ltd, the overseas arm of state-owned ONGC, has completed the acquisition of additional 11% interest in Russia’s Vankor oilfield, taking its total stake to 26%.

Karnataka Bank is trading lower by 0.57% on the BSE. The bank informed the BSE that the board of directors at its meeting held on Friday finalised the right issue opening and issue closing dates. The issue opens on November 7, and closes on November 21. Last date for request of split application form is November 15.

Ujaas Energy climbed 13.8%. The company reported a net profit of Rs 9.7 crore for the quarter ended September 30 compared with Rs 3.3 crore reported in the year-ago period.

Heritage Foods slipped 2.4%. The company said it would acquire the dairy business of Reliance Retail through a slump sale. The company has executed a binding agreement for the acquisition. The proposed transaction is subject to regulatory approvals and other conditions and procedures that are customary for similar transactions, Heritage Foods said in a BSE filing.

Avanti Feeds gained 2% after the company reported its consolidated net revenue for Q2 of FY17 was 34% higher YoY at Rs 713 crore. However, reported Ebitda fell by 11% YoY to Rs 56 crore and Ebitda margins shrank 397 bps YoY to 7.9%.

The rupee opened higher by seven paise at 66.72/$ as against the previous close of 66.79/$.

Asian markets opened on a weak note following the US indices which closed marginally in the red after very range bound trade. Uncertainty on the US elections which are due next week coupled with rise in bond yields kept sentiment weak. The only exception continues to be Brazil & Russia where the indices continue to tread higher with more money chasing growth as economies see better times ahead. Mutual Funds pumped in net Rs. 8,106 crore, foreign funds pulled out more than Rs. 10,000 crore in October; a bulk of the withdrawals was in debt.

The dollar has weakened. China’s manufacturing sector saw its fastest pace of expansion in recent years as Purchasing Managers’ Index (PMI) moved higher to 51.2 in October.

Crude oil prices, which were subdued for weeks rose marginally on expectations of some consensus among OPEC members in managing production. The email saga may be haunting Clinton but polls suggest she is still ahead in the race for US President. The Bank of Japan maintained status quo on rates. Fed outcome tomorrow will be eyed though nothing much is expected ahead of US presidential elections.

India’s core sectors grew 5% in September driven by strong growth in the steel and petroleum products sectors. The growth in the Index of Eight Core Industries is stronger than the 3.2% rise in August.

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Sensex, Nifty open flat; Tata group stocks fall on Mistry’s exit

sensex

The market has opened in red with focus in Tata group stocks. The Sensex is down 24.28 points at 28154.80 and the Nifty is down 2.35 points at 8706.60. About 615 shares have advanced, 309 shares declined, and 59 shares are unchanged.

Tata Steel is down over 3 percent while Tata Motors and TCS are slipping over 1 percent. ICICI Bank, Adani Ports, Cipla, GAIL and Maruti are top gainers in the Sensex.

The Indian rupee opened lower by 8 paise at 66.93 per dollar on Tuesday versus previous close 66.85.

Ashutosh Raina of HDFC Bank said, “The dollar index touched 9-month high of 98.85, with dollar continuing to rise against basket of major currencies on expectations of Fed hiking rates in December, with probability of December hike rising to almost 80 percent.”

The US dollar hovered near a roughly nine-month high against a basket of major currencies and touched a one-week high against the yen on growing expectations of a Federal Reserve interest rate increase in December.

Asian shares edged higher on Tuesday while the dollar stood firm as upbeat US earnings boosted Wall Street and factory surveys in the United States and Europe boasted their best readings so far this year.

MSCI’s broadest index of Asia-Pacific shares outside Japan inched up 0.1 percent with most components yet to trade.

Australian stocks added 0.5 percent and futures pointed to an opening gain of around 0.8 percent for Japan’s Nikkei helped by a softening yen. Wall Street took encouragement from upbeat corporate results and the Dow rose 0.46 percent, while the S&P 500 gained 0.47 percent and the Nasdaq or 0.91 percent.

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Live Stock Market Updates – Sensex, Nifty Decline in Early Trade

Bombay-Stock-Exchange

The BSE Mid-cap Index is trading up 0.25% at 11,432, whereas BSE Small-cap Index is trading up 0.45% at 11,530. Adani Ports, GAIL, M&M, ONGC, Coal India, Bajaj-Auto, SBI and Cipla are among the gainers, whereas Bharti Airtel, Axis Bank, L&T, Tata Motors, Asian Paints are losing sheen on BSE.

The BSE Sensex opened 5.56 points up at 26872.48, while Nifty opened 16.90 points up at 8,255.40.

At 9:32 AM, the S&P BSE Sensex is trading at 26,805 down 62 points, while NSE Nifty is trading at 8,217 down 21 points.

The BSE Mid-cap Index is trading up 0.25% at 11,432, whereas BSE Small-cap Index is trading up 0.45% at 11,530.

Adani Ports, GAIL, M&M, ONGC, Coal India, Bajaj-Auto, SBI and Cipla are among the gainers, whereas Bharti Airtel, Axis Bank, L&T, Tata Motors, Asian Paints are losing sheen on BSE.

Some buying activity is seen in metal, oil and gas, auto, utilities and pharma sectors, while telecom, consumer durable, IT, banking, and FMCG sectors are showing weakness on BSE.

The INDIA VIX is up 0.32% at 17.5750. Out of 1,823 stocks traded on the NSE,549 declined, 847 advanced and 405 remained unchanged today.

A total of 25 stocks registered a fresh 52-week high in trades today, while nine stocks touched a new 52-week low on the NSE.
Asian markets are trading higher. Nikkei 225 and Hang Seng are trading higher. Shanghai Composite gained 0.59%. Investors took a pause ahead of the UK referendum scheduled on Thursday. The overall mood remained positive as opinion polls showed that the favour tilted towards Britain remaining a part of the European Union.

Wall Street closed higher after indications that British voters this week will choose to remain in the European Union. The Dow Jones rose 129.71 points, or 0.73%, the S&P 500 gained 12.03 points, or 0.58 %.The Nasdaq Composite added 36.88 points, or 0.77%.

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