Today's Intraday Stock Market Update

The market has opened lower Friday. The Sensex is down 59.70 points or 0.2 percent at 25730.52, and the Nifty is down 35.30 points or 0.4 percent at 7865.10. About 247 shares have advanced, 292 shares declined, and 46 shares are unchanged. For More Information Visit

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    Tata Motors, Wipro, Bajaj Auto, Asian Paints and HUL are top gainers while Dr Reddy's Labs, Tata Steel, BHEL, NTPC and L&T are losers in the Sensex.

      The Indian rupee slipped in the early trade. It has opened lower by 16 paise at 66.78 per dollar against previous close of 66.62.

      Ashutosh Raina of HDFC Bank said, "The global risk-off coupled with weak IIP and CPI numbers are expected to weigh on Indian markets."      The dollar gained against the yen after Japan's Central Bank governor said there was more room to ease monetary policy if needed.        Yen fell to a two week low pressured by speculation that the Bank Of Japan could expand its monetary stimulus as soon as next month.

Afternoon Equity Market Overview By CapitalHeight

Equity benchmarks continued to consolidate in noon trade ahead of RBI monetary policy that is scheduled to be on Tuesday. The Sensex gained 16.80 points at 25286.44 and the Nifty rose 12.35 points to 7725.40.
         Oil prices fell as the chances of Middle East producers agreeing to curb overproduction appeared to fade, while U.S. output remains stubbornly high. Front month US West Texas Intermediate (WTI) crude futures were trading at USD 36.30 per barrel, down 1.3 percent or 49 cents from their last settlement. International Brent futures were down 4 percent or 1.63 cents at USD 38.70 a barrel.
          Hindalco Industries topped buying list on Sensex, up 4 percent followed by Infosys, Tata Motors, M&M, Dr Reddy's Labs, Wipro, Bajaj Auto and Tata Steel with more than 1 percent upside. ITC, Lupin and ONGC were down more than 1 percent.

          With inflation under check and government sticking to its fiscal consolidation path, market expectations are that RBI may cut interest rate by up to 0.50 percent in its first bi-monthly monetary policy review for 2016-17 on Tuesday in order to propel growth. The government has also pared the small savings interest rate by up to 1.3 percent providing cushion to the Reserve Bank for cutting the policy rate.        Finance Minister Arun Jaitley too had last week expressed desire that the RBI should cut rate, stating "I want what everybody wants. At this stage if rate cuts do take place it's certainly going to be helpful because you need a more efficient economy and you need a more competitive cost of capital". Bankers said high interest rate could make Indian economy sluggish given that inflation is around 5 percent.

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After Noon Intraday Market News By CapitalHeight

Reserve Bank of India (RBI) Governor Raghuram Rajan said he was not in favour of devaluing exchange rates to boost economic growth, signalling India will not join other countries such as China or Japan in pushing down their currencies.

         Rupee has been one of the worst performers in Asia this year, falling by nearly 3 percent after strong foreign investment outflows from equity markets.

        The market continues to rally as the Sensex is up 580.93 points or 2.5 percent at 23567.05 and the Nifty is up 182.60 points or 2.6 percent at 7163.55. About 1984 shares have advanced, 586 shares declined, and 110 shares are unchanged.

      Capital Goods, Metals, Oil & Gas, Auto are among favourites today.

        Tata Steel, Hindalco, L&T, SBI and Adani Ports are top gainers while Bharti Airtel, HUL and HDFC are losers in the Sensex.

        Crude oil futures slipped 0.30 percent to Rs 2,000 per barrel today, in line with a weak trend in Asian trade, as traders cut down their exposure. Analysts said the fall in crude oil futures is mostly in step with a weak trend in Asian trade after soaring at the end of last week as Iran prepared to ship its first consignment of the commodity since sanctions were lifted, reigniting worries over a global supply glut.
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