Sensex, Nifty flat; Jindal Steel stock down 2% | Indian Share Market

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Sensex, Nifty flat; Jindal Steel stock down 2%

Benchmark indices opened little changed on Thursday. BSE Sensex rose marginally in the opening trade, while the Nifty 50 edged down in the morning hours. The rupee weakened marginally against US dollar in the opening trade. Traders are cautious ahead of the Index of Industrial Production (IIP) data for November and Consumer Price Inflation (CPI) for December due to be released on 12 January. Markets will also await earnings from bluechips this week, with TCS reporting its December quarter results today and Infosys lined up for Friday. Infosys, Tata Motors and ONGC were top gainers, whereas Wipro, Coal India and Yes Bank shares fall. Here are the latest updates from the markets.

Benchmark indices opened flat, the Sensex rose marginally in the opening trade, while the Nifty50 edged down and ahead of TCS numbers.

Domestic benchmark indices opened flat today taking cues from weak Asian equity markets and US equities overnight. Nifty IT, Nifty Auto and Nifty FMCG were the only sectoral indices trading in green.

At 9:53 AM, the BSE Sensex was trading at 34,414, down 19 points, while the broader Nifty50 was ruling at 10,619, down 13 points.

Jindal Steel and Power fell 2% after CBI pressed bribery charge against Naveen Jindal for irregularities in the allocation of a Jharkhand coal block.

Maruti Suzuki India was up 0.16% at Rs 9,398.85 after the company announced a price increase ranging from Rs 1,700 to Rs 17,000 (ex-showroom- Delhi) across models with effect from 10 January 2018, owing to increase in commodity and other administrative & distribution costs.

Jai Corp stock surged after RIL through its personal investment firms is in talks with the company to buy its 24% stake in Navi Mumbai Special Economic Zone, as per media reports.

Shares of Tata Consultancy Services traded 0.3% lower ahead of the company’s Oct-Dec earnings.

Shares of Infosys rose 1% on reports that the company plans to induct more members on board.

Welspun Enterprises gained 2% to Rs192.40 after the company entered into a concession pact with Madhya Pradesh government for Dewas water supply project.

The BSE Mid-cap and BSE Small-cap indices were up 0.07% and 0.26%, respectively.

Volatility index India VIX gained 0.97%.

Indiabulls HF (+2.1%), Tech Mahindra (+1.4%), Infosys (+0.93%), Tata Motors (+0.52%) and ONGC (+0.43%) were the top gainers on Nifty50.

Cipla (-1.5%), Wipro (-1.4%), HPCL (-1.2%), Coal India (-1%) and Bajaj Fin (-0.89%) were the top losers in today’s trade.

Out of 2,001 stocks traded on the NSE, 802 advanced, 788 declined and 411 remained unchanged today.

A total of 69 stocks registered a fresh 52-week high in trade today, while five stocks touched a new 52-week low on the NSE.

9.35 am
Infosys shares rise ahead of earnings
Infosys Ltd rose 1% to Rs1,060 ahead of its December quarter earnings due on Friday. According to 18 Bloomberg analysts’ estimate, the company may post a net profit of Rs3,601.60 crore, while net sales will be at Rs17,836.90 crore.

9.33 am
Jindal Steel shares fall following CBI charges
Jindal Steel and Power Ltd fell 2% to Rs257.05 after CBI presses bribery charge against Naveen Jindal for irregularities in the allocation of a Jharkhand coal block.

source: indiainfoline.com

 

 

Categories:   BSE Sensex, Indian share market, Indian Stock exchange, Indian Stock Market, Indian Stock Pick

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