Monday, 9 November 2015

Nifty Remains 100 Points Lower

Posted by suhani varma on Monday, November 09, 2015 with No comments

The S&P BSE Sensex is trading at 25,963 down 302 points, while NSE Nifty is trading at 7,864 down 90 points. The BSE Mid-cap Index is trading down 0.06% at 10,833, whereas BSE Small-cap Index is trading up 0.26% at 11,081.

Maruti Suzuki, Tata Motors, SBI and ITC are among the gainers, whereas Sun Pharma, BHEL, Dr. Reddy's Lab, Coal India, ICICI Bank and Wipro are losing sheen on BSE. All sectors are in red except fmcg and consumer durable sector are green on BSE. The INDIA VIX is down 11.43% at 17.24. Out of 1,747 stocks traded on the NSE, 754 declined and 709 advanced today.

The Indian rupee opened lower by 66 paise at 66.41/$ in early trade on Monday. On domestic front, the outcome of Bihar assembly elections will linger in the minds of investors. PM Narendra Modi’s party suffered a massive defeat, with NDA able to garner just 58 seats out of 243 assembly seats. The grand coalition of JD(U), RJD and Congress took the majority of the pie, registering 178 seats. Loss in Bihar assembly elections has dampened the hopes of augmenting BJP’s strength in the upper house of the parliament. With paltry numbers in the Rajya Sabha, there are now serious questions on the potential of the incumbent Central government to pass important reforms.

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