Monday 18 January 2016

Nifty Hovers Around 7400 Mark

Posted by suhani varma on Monday, January 18, 2016 with No comments

The S&P BSE Sensex is trading at 24,329 down 126 points, while NSE Nifty is trading at 7,403 down 35 points. The BSE Mid-cap Index is trading down 1.71% at 10,214, whereas BSE Small-cap Index is trading down 2.86% at 10,475. All sectors are showing weakness on BSE.

Tata Steel, GAIL, Axis Bank, BHEL, Lupin,TCS, Infosys and NTPC are among the gainers, whereas Adani Ports, Bajaj-Auto, BHEL, Maruti Suzuki, ONGC, L&T and Cipla are losing sheen on BSE.

Indian Rupee opened lower at 66.70/$,down by 10 paise in early trade on Monday as against the previous close of 66.60/$. Indian rupee extended the weakness against the greenback, declining 30 paise and in the process hitting 28 months low. Strong demand for US dollar and sharp fall in global equities is taking a toll on Indian rupee. There are also concerns over persistent foreign capital outflows from the domestic equities. Of late, Indian macroeconomic indicators have also disappointed the investors. The numbers convey that industrial activity has slowed down and retail inflation is moving higher.
The India VIX (Volatility) index is up 1.85% to 19.77. Out of 1,796 stocks traded on the NSE, 1,372 declined and 203 advanced today. A total of 11 stocks registered a fresh 52-week high in trades today, while 197 stocks touched a new 52-week low on the NSE.

Shares of Glenmark Pharmaceuticals are currently trading 3.5% lower at Rs. 801 on BSE despite the company received UK MHRA’s approval for its units located at Baddi and Pithampur. Shares of Wockhardt Ltd are currently trading 7.5% lower at Rs. 1,191.90 on BSE after the US FDA made 9 observations for its manufacturing facility located at Shendra, Aurangabad last week.

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