Monday 29 August 2016

Live Stock Market Updates - Sensex, Nifty Languish In Red

Posted by suhani varma on Monday, August 29, 2016 with No comments

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The Indian stock market opened flat to positive but slipped into the negative zone in early trade on weak Asian cues.  At 9:33 AM, the S&P BSE Sensex is trading at 27,827 down 18 points, while NSE Nifty is trading at 8,569 down mere three points. The BSE Mid-cap Index is trading up 0.04% at 13,005 whereas BSE Small-cap Index is trading up 0.11% at 12,501.

Tata Motors, Axis Bank, Tata Steel, GAIL, RIL and ICICI Bank are among the gainers, whereas Adani Ports, Lupin, Wipro, TCS and Bajaj Auto are losing sheen on BSE. Some buying activity is seen in oil and gas, auto, industrial and energy sectors, while IT, pharma, capital goods, banking, metal and teck sectors are showing weakness on BSE.

The INDIA VIX is up 2.65% at 13.9300. Out of 1,831 stocks traded on the NSE, 731 declined, 658 advanced and 442 remained unchanged today. A total of 24 stocks registered a fresh 52-week high in trades today, while 16 stocks touched a new 52-week low on the NSE. The rupee opened lower by 12 paise at 67.14/$ against US Dollar Monday as against the previous close of 67.05/$.

Asian markets are trading mixed. Nikkei 225 is trading in green, while Shanghai Composite and Hong Kong's Hang Seng are trading lower. Investors are still trying to make sense and understand the implications of US Federal Reserve Chair Janet Yellen's speech on Friday. At Jackson Hole, she said the case for a rate hike was strengthening thereby re-echoing the views of other Fed officials.

Meanwhile, Bank of Japan’s Haruhiko Kuroda reiterated that the Japanese central bank was ready to do all that is needed to prevent the Japanese economy from sliding further into deflation.

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