Investors will closely watch the debut of the LG Electronics IPO, following yesterday’s flat listing of the Tata Capital IPO
All the sectoral indices ended in the red with pharma, consumer durables, metal, media, PSU Bank index down 1-1.5%. Dr Reddy's Laboratories, Bajaj Finance, Bharat Electronics, TCS, Trent were among major losers on the Nifty, while gainers included Max Healthcare, Apollo Hospitals, Tech Mahindra, Wipro and ICICI Bank. BSE Midcap index shed 0.8 percent and smallcap indices fell 1%.
More than 150 stocks touched their 52-week high on the BSE, including HBL Engineering, L&T Finance, Bajaj Finance, Fortis Healthcare, Nippon Life India, SBI, Yes Bank, Indian Bank, Eternal, RBL Bank, Authum Investment, among others.
Morgan Stanley said that India's households wealth held in gold is estimated at US$ 3.8 trillion, or 88.8% of GDP. 'This is providing a positive wealth effect, even as benign macro stability ensures that flow of gold demand remains range bound,' it said.
Dalal Street opened on a soft note as investors turned cautious after a global selloff and ahead of key domestic earnings announcements.
GIFT Nifty signals a cautious start for Dalal Street as renewed US-China trade tensions and a sharp fall in global markets weigh on sentiment.
Among sectors, metal, telecom, IT, FMCG, capital goods, consumer durables slipped between 0.5-1%. Tata Motors, Infosys, Wipro, Nestle, HUL were among major losers on the Nifty, while gainers were Bharti Airtel, Bajaj Auto, Adani Ports, Shriram Finance and Bajaj Finance. BSE Midcap index was down 0.2 percent and smallcap indices shed 0.4 percent.
Commodities markets will closely monitor developments on the US-China trade front, especially after Trump threatened to withdraw from a planned meeting with Chinese President Xi Jinping at a summit in South Korea later this month.
On the sectoral front, metal index shed 0.8 percent, while auto, bank, consumer durables, PSU bank, realty, pharma added 0.5-1 percent.
Blue-chip large-cap banking stocks drove the gains with SBI, HDFC Bank, Axis Bank and ICICI Bank contributing the most to the rise in Nifty 50 and Sensex on October 10.
Short-covering can take lead Dalal Street higher, according to experts, even though valuations at the current juncture remain elevated.
Silver rate today: Check the latest prices of 10 grams of 22 carat and 24 carat silver in major cities of the country on October 10.
The rupee was last at 85.7 as of 10:45 a.m. on Friday, up 0.1% on the day and holding above its all-time low of 88.8 set last week
Sensex and Nifty opened on a cautious note in the final session of the week, with metal stocks weighing on sentiment even as banking and oil counters offered some support.
For the session today, IT stocks will be in focus after Tata Consultancy Services came out with its September quarter earnings
Cipla, SBI, Axis Bank, Maruti Suzuki, Bajaj Auto were among major gainers on the Nifty, while losers included Tata Steel, TCS, JSW Steel, Tech Mahindra, Shriram Finance. BSE Midcap index rose 0.3%, and smallcap index gained 0.6%. On the sectoral front, metal index shed 0.7 percent, while auto, bank, consumer durables, PSU bank, realty, pharma added 0.5-1 percent.
All the sectoral indices ended in the green with pharma, oil & gas, realty, metal, PSU Bank IT added 0.5-1 percent.
Analysts advise traders to 'buy-on-dips', and fresh long positions should be considered only if the Nifty sustains above the 25,250 mark.
Analysts adivse traders to 'buy-on-dips', and fresh long positions should be considered only if the Nifty sustains above the 25,250 mark.
Silver rate today: While domestic prices increased, silver futures dropped in trade.
Gold rate today: Gold futures on MCX with December expiry were down 0.11% (Rs 138) to Rs 1,23,071 per 10 grams.
The central bank has built up short dollar positions of at least $15 billion in the non-deliverable forwards market over the past two to three weeks
Analysts adivse traders to 'buy-on-dips', and fresh long positions should be considered only if the Nifty sustains above the 25,250 mark.
According to analysts, while global cues will remain influential, market focus is expected to shift toward domestic earnings and the festive season momentum.
On the sectoral front, pharma, oil & gas, realty, metal, PSU Bank IT added 0.5-1 percent. BSE Midcap index jumped 0.75%, while smallcap index ended flat. Biggest Nifty gainers were HCL Technologies, JSW Steel, Tata Steel, SBI Life Insurance, Interglobe Aviation, while losers were Tata Consumer, Axis Bank, Maruti Suzuki, Titan Company and Bharti Airtel.