Sensex down 47 points on weak Asian cues

The Nifty and the Sensex opened and traded flat to negative as trading went mute after participation from market-men declined ahead of Christmas and New year.

The Nifty opened six points down at 7,973, while the Sensex opened 20 points down at 25,960.

At 9.40 a.m., the 30-share BSE index Sensex was down 47.24 points or 0.18 per cent at 25,932.36 and the 50-share NSE index Nifty was down 12.65 points or 0.16 per cent at 7,966.45.

A report by SMC Global said: "Asian stocks stepped back in subdued trade today as Wall Street took a breather from its relentless rise since the US election, while the dollar hovered below its 14-year high set earlier this week. Overnight, US equities posted their first back-to-back daily declines of the month in light trading as investors took time out ahead of the Christmas weekend. Economic activity in the US increased by more than previously estimated in the third quarter, the Commerce Department revealed in a report. The Commerce Department said gross domestic product climbed by 3.5 per cent in the third quarter, reflecting an upward revision from the previously reported 3.2 per cent increase. Economists had been expecting the report to show a more modest upward revision to the pace of GDP growth to 3.3 per cent."

All the broader and sectoral indices barring pharma were trading in the red. Volatility was up 1.2 per cent with the India Vix quoting at 15.7400.

Markets open with a positive bias

LIVE: Markets open with a positive bias; Sensex up by 80 points at 27547, Nifty gains 25 points

09.35 am: Sensex was trading over 70 points high at 27,526.58 while NSE nifty advanced by 22.75 points to trade at 8,519.80. Here is how the 30-share index is performing as of now:
OPENING BELL
BSE Sensex, NSE Nifty opened in green ahead of the US Presidential Elections. Sensex opened nearly 80 points up at 27,547.95 while Nifty was up by 25 points or  0.30% at 8,522.75
PRE-MARKETS
Ahead of US Presidential Elections, domestic equity markets are likely to open on a higher note on Tuesday tracking SGX Nifty and global cues. At 07.50 am, SGX Nifty was trading 29 points up at 8,538. Asian shares rose in early Asian trade on Tuesday ahead of the U.S. presidential election, with investor sentiment buoyed by improving prospects for Democrat Hillary Clinton to win. The Mexican peso, which has moved in opposite step to perceived chances of Republican Donald Trump winning the election, retained its strong gains from Monday, while the dollar also held steady.
On Monday, Sensex staged a strong comeback to end with a gain of nearly 185 points, reversing its five-session losing run and tracking rebound in global market after prospects of Hillary Clinton brightened in the US presidential race following an FBI reprieve.
Stocks in focus:
1. ICICI Bank: ICICI Bank on Monday reported 12.8 per cent dip in consolidated net profit to Rs 2,979 crore for the September quarter as its provisioning for bad loans shot up by 7-fold. The bank’s net profit in July-September quarter of the last fiscal was Rs 3,419 crore.
2. Britannia Industries: Britannia Industries today reported a 5.79 per cent increase in consolidated net profit at Rs 233.95 crore for the second quarter ended September 30, 2016. The company had posted a net profit of Rs 221.13 crore in July-September period a year-ago, Britannia Industries said in a BSE filing.