Thursday 24 May 2018

Market Live: Sensex off opening high; Tata Motors hits fresh 52-week low

Market Live: Sensex off opening high; Tata Motors hits fresh 52-week low. Asian stocks traded mixed amid caution over fresh trade-related developments between the US and China.


Asian stocks traded mixed amid caution over fresh trade-related developments between the US and China.
Stock Tips

Market Update: Benchmark indices are off their opening highs due to further sharp correction in Tata Motors that hit a fresh 52-week low following the dismal performance in Q4.

The Sensex gained 60.88 points at 34,405.79 and the 50-share NSE Nifty rose 8.60 points to 10,439.
 
The market traded higher after yesterday's sharp fall, with the Sensex rising around 100 points despite the mixed trend in Asian peers.

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The Nifty Midcap underperformed frontliners while IT index outperformed every index, rising more than 1.5 percent on sharp depreciation in the rupee yesterday.

The rupee recouped some of the previous day's losses, trading 12 paise higher at 68.30 a dollar. Yesterday, it had corrected 38 paise to close at 68.42 a dollar.

The 30-share BSE Sensex gained 114.95 points at 34,459.86 and the 50-share NSE Nifty rose 23.70 points to 10,454.10.

About 985 shares advanced against 542 declining shares on the BSE.

Market Opening: Benchmark indices opened the trade on a positive note indicated by SGX Nifty futures, partly led by short covering as the market lost around a percent in the previous session.

The 30-share BSE Sensex gained 93.16 points at 34,438.07 and the 50-share NSE Nifty rose 32.60 points to 10,463.

The nifty Midcap index gained 77 points.

Jet Airways, Shalimar Paints, ENIL and Bharat Forge fell up to 5 percent.

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L&T Infotech, IGL, Jain Irrigation, Natco Pharma, Eros International, Rupa, PNC Infratech, KPIT Technologies, Strides Shasun, Reliance Communications and NIIT Technologies gained up to 5 percent.

Rupee and Bond: The Indian rupee recouped some losses in morning trade on Thursday following the recovery in other currencies globally.

The rupee gained 10 paise at 68.32 against the US dollar against the previous close of 68.42.

The 7.17% 2028 government bond yield opened at 7.83 percent, down 2 basis points from 7.85 percent in the previous session.




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