Wednesday, 3 August 2016

Live Stock Market Updates - Nifty Slips Below 8600 Mark

Posted by suhani varma on Wednesday, August 03, 2016 with No comments

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The S&P BSE Sensex is trading at 27,888 down 94 points, while NSE Nifty is trading at 8,589 down 34 points. The BSE Mid-cap Index is trading down 0.46% at 12,571, whereas BSE Small-cap Index is trading down 0.19% at 12,196.

Asian markets are trading mixed. In Japan, the Nikkei 225 and Hong Kong's Hang Seng trading lower by 1%. Shanghai Composite is marginally up. US markets closed lower. S&P 500 lost 0.64% to 2,157 points, on selling in shares of retailers and automobile companies. The Dow Jones Industrial Average fell 0.49% while the Nasdaq slipped 0.9%.

On the economy front,the NIKKEI Services PMI for July will be in focus. Rajya Sabha to take up the Constitution amendment bill to implement GST in the country. The bill, which has been pending in the upper house since May 2015, is likely to go through with Congress party's support.

Today, SBI Chairman Bhattacharya and West Bengal Finance Minister Mitra to speak at 13th Banking Conclave organised by FICCI in Kolkata. S&P Global Ratings said that Indian state-run banks will need Rs.2.5 lakh crore capital infusion over the next three years to meet Basel-III requirements. The Indian rupee opened higher by four paise at 66.70/$ against US Dollar Wednesday as against the previous close of 66.74/$.

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