Monday, 12 October 2015

Sensex, Nifty Choppy; IT, FMCG Stocks Drag

Posted by suhani varma on Monday, October 12, 2015 with No comments

The S&P BSE Sensex is trading at 27,050 down 29 points, while NSE Nifty is trading at 8,183 down mere seven points. The BSE Mid-cap Index is trading up 0.42% at 10,983, whereas BSE Small-cap Index is trading up 0.37% at 11,390.

Some buying activity is seen in auto, banking, capital goods, metal, power and oil&gas sectors, while IT, fmcg, teck and realty sectors are showing weakness on BSE. Vedanta, Hindalco, Tata Motors, Tata Steel, BHEL and ICICI Bank are among the gainers, whereas Infosys, Wipro, Cipla, TCS, HDFC and Lupin are losing sheen on BSE.

All the sectoral indices continue to trade on a mixed note.The India VIX (Volatility) index is up 4.21% to 19.72. Indian Rupee today opened at 64.82/$ lower by 8 paise in early trade on Monday. On macroeconomic side, The US dollar extended loss against a basket of currencies on Friday, after the minutes of the Fed's recent policy failed to show any positive signs for a rate hike anytime this year. Considerable uncertainties surrounded the U.S. economic outlook, particularly the drag on exports from slowing global growth, low investment caused by the decline in oil prices and what he called a “disappointing” recent drop in U.S. job growth.

Yes Bank gained 1.2% at Rs.734 on BSE after the bank gets approval for setting up mutual fund. Suzlon Energy gained 1.5% at Rs. 24.40 after the company announced that it has completed the commissioning of 50.40 MW wind power turnkey project for Ostro Energy Pvt Ltd. (owned by Actis). The project will provide electricity to over 28,000 homes and curb 0.10 million tonnes of CO2 emissions annually.

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