Monday, 9 November 2015

Sensex, Nifty Recover After A Weak Start

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

The S&P BSE Sensex is trading at 25,968 down 296 points, while NSE Nifty is trading at 7,862 down 92 points. The BSE Mid-cap Index is trading down 1.52% at 10,351, whereas BSE Small-cap Index is trading down 1.024% at 10,692.

Tata Motors, Maruti Suzuki, SBI, Bajaj Auto and Hero MotoCorp are among the gainers, whereas Sun Pharma, BHEL, Dr. Reddy's Lab, Coal India, ICICI Bank and HDFC are losing sheen on BSE. All sectors are in red except consumer durable sector is green on BSE. The INDIA VIX is down 10.82% at 17.36. Out of 1,744 stocks traded on the NSE, 874 declined and 546 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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