Nifty Trades Below 7,800 Level

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The S&P BSE Sensex is trading at 25,522 down 116 points, while NSE Nifty is trading at 7,756 down 25 points. The BSE Mid-cap Index is trading up 0.01% at 10,936, whereas BSE Small-cap Index is trading up 0.32% at 11,594.

Some buying activity is seen in pharma, IT, consumer durables, banking, auto and teck sectors, while FMCG, energy, auto, capital goods and metal sectors are showing weakness on BSE. Sun Pharma, HUL, Tata Steel, Lupin, HDFC, Hero MotoCorp and Vedanta are among the gainers, whereas ITC, Coal India, ONGC, NTPC, RIL and Tata Motors are losing sheen on BSE.

The India VIX (Volatility) index rose nearly 1.4% to 16.31. Out of 1,758 stocks traded on the NSE, 655 declined and 818 advanced today. A total of 51 stocks registered a fresh 52-week high in trades today, while 9 stocks touched a new 52-week low on the NSE.

The Indian rupee opened at 66.70/$ in early trade on Monday. A US rate hike could potentially lead to massive amounts of pullback of foreign funds from emerging economies like India. Fed Forward rate curves are now suggesting 79% probability of 25 basis points move on the rates. The volatility will increase as we move towards December 16th Fed policy meeting.

The week has macroeconomic numbers like IIP and trade data being announced. With OPEC announcing plans to roll over its policy of maintaining crude production, crude prices will be on radar. Shares of Kridhan Infra were trading higher 3.8% at Rs. 94.20 on BSE today. Around 6 lakh shares were traded in a single block at Rs. 91.25 on the BSE. 

Sharp India has hits 20% upper limit to Rs. 49.80 on BSE. Sadbhav Infra has gained 3.8% to Rs.105.70 on BSE. The company has received Provisional Completion Certificate for 100% project and start of toll collection in Shreenathji - Udaipur Tollway Private Ltd.

Titan Company has gained 1% to Rs. 369.75 on BSE. Tata Sons is reportedly planning to acquire additional 0.22% stake in Titan Company at an estimated price of over Rs. 66 crore. Tata Sons will acquire 0.22% stake from Tata International as part of restructuring its investment portfolio, the company reported. Shares of Jamna Auto were trading lower 2.5% at Rs. 122.55 on NSE today. Around 31.8 lakh shares were traded in a single block at Rs. 117.50-118.90 on the NSE.