Some buying is observed in realty, media, metal and pharma sectors while financial services, IT, Bank Nifty, FMCG and auto showing weakness on NSE.
The Indian stock markets open on a positive note but later pared gains to turn red on Monday,
At 9:32 AM, the S&P BSE Sensex is trading at 26,494 down 132 points, while NSE Nifty is trading at 8,154 down 31 points.
The BSE Mid-cap Index is trading up 0.01% at 12,032, whereas BSE Small-cap Index is trading up 0.46% at 12,101.
Eicher Motors, UltraTech Cement, Ambuja Cements, SBI and ACC are among the gainers, whereas Bajaj Auto, M&M, BoB and HDFC are losing sheen on NSE.
A total of six stocks registered a fresh 52-week high in trade today, while seven stocks touched a new 52-week low on the NSE.
Out of 1,871 stocks traded on the NSE, 520 declined,918 advanced and 433 remained unchanged today.
Some buying is observed in realty, media, metal and pharma sectors while financial services, IT, Bank Nifty, FMCG and auto showing weakness on NSE.
The INDIA VIX is up 3.78% at 16.0500.
Asian indices opened in the green with most markets still in holiday mode. The retracement of the US$ saw currency gains for most countries which prompted buying in equities. Financials, materials & infra stocks gained with gold & oil prices seeing profit booking
After a year of negligible gains for the Indian equity market, 2017 starts on hopes that this year will be better in many aspects. During the year, the Nifty hit a low of 6826 in Feb 2016 then surged to 8969 in September 2016. Then came a plethora of concerns which reduced the risk appetite for emerging markets. Trump's US presidential victory, strengthening of US Dollar and the demonetization drive dominated the headlines towards the end of the year.
The much-awaited New Year's address by Prime Minister Narendra Modi saw a slew of initiatives being announced which focused on the rural segment, small businesses, women and the banking sector.
The PM highlighted a stark reality that a mere 24 lakh Indians had declared that they had an annual income of above Rs 10 lakhs.
Bank stocks will be in focus after leading lenders announced a cut in loan rates. Profit booking is expected at higher levels later in the day unless global markets keep the momentum going.
The Indian economy remains one of the fastest growing economies as it grew 7.2% in the first half of the current fiscal.
The Indian stock markets open on a positive note but later pared gains to turn red on Monday,At 9:32 AM, the S&P BSE Sensex is trading at 26,494 down 132 points, while NSE Nifty is trading at 8,154 down 31 points.
The BSE Mid-cap Index is trading up 0.01% at 12,032, whereas BSE Small-cap Index is trading up 0.46% at 12,101.
Eicher Motors, UltraTech Cement, Ambuja Cements, SBI and ACC are among the gainers, whereas Bajaj Auto, M&M, BoB and HDFC are losing sheen on NSE.
A total of six stocks registered a fresh 52-week high in trade today, while seven stocks touched a new 52-week low on the NSE.
Out of 1,871 stocks traded on the NSE, 520 declined,918 advanced and 433 remained unchanged today.
Some buying is observed in realty, media, metal and pharma sectors while financial services, IT, Bank Nifty, FMCG and auto showing weakness on NSE.
The INDIA VIX is up 3.78% at 16.0500.
Asian indices opened in the green with most markets still in holiday mode. The retracement of the US$ saw currency gains for most countries which prompted buying in equities. Financials, materials & infra stocks gained with gold & oil prices seeing profit booking
After a year of negligible gains for the Indian equity market, 2017 starts on hopes that this year will be better in many aspects. During the year, the Nifty hit a low of 6826 in Feb 2016 then surged to 8969 in September 2016. Then came a plethora of concerns which reduced the risk appetite for emerging markets. Trump's US presidential victory, strengthening of US Dollar and the demonetization drive dominated the headlines towards the end of the year.
The much-awaited New Year's address by Prime Minister Narendra Modi saw a slew of initiatives being announced which focused on the rural segment, small businesses, women and the banking sector.
The PM highlighted a stark reality that a mere 24 lakh Indians had declared that they had an annual income of above Rs 10 lakhs.
Bank stocks will be in focus after leading lenders announced a cut in loan rates. Profit booking is expected at higher levels later in the day unless global markets keep the momentum going.
The Indian economy remains one of the fastest growing economies as it grew 7.2% in the first half of the current fiscal.
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