Asian shares are trading mixed amid trade and economic concerns; OPEC meeting ahead.
Market Update: The market is trading mildly higher amid consolidation in afternoon, tracking positive mood in European stocks.
The Nifty is trading above 10,750 levels while FMCG and Pharma are biggest gainers among sectoral indices, rising over a percent.
The Sensex rose 64.13 points to 35,496.52 and the Nifty gained 21.90 points at 10,763.
Click here To know about the Best Stock Advisory India
European markets are slightly higher, amid ongoing tensions in the energy market ahead of an OPEC meeting that could expand crude production.
Rupee Update: The rupee firmed up by 15 paise to 67.83 against the dollar today after increased selling of the US currency by exporters and banks. The dollar slipping from an 11-month peak against other currencies overseas as investors took profits also helped the rupee.
Further, fresh foreign capital inflows took the local currency higher but a lower opening of the domestic equity markets capped the rise, dealers said.
Yesterday, the rupee had appreciated by 10 paise to close at 67.98 against the greenback on sustained selling of the American currency by exporters and local banks.
Crude Update: Oil prices rose by more than 1 percent, pushed up by uncertainty over whether OPEC would manage to agree a production increase at a meeting in Vienna later in the day.
Brent crude futures, the international benchmark for oil prices, were at $73.96 per barrel, up 1.25 percent, from their last close.
US West Texas Intermediate (WTI) crude futures were at $66.44 a barrel, up 1.37 percent.
The Organization of the Petroleum Exporting Countries (OPEC), a producer cartel de-facto led by top exporter Saudi Arabia, is meeting together with some non-OPEC members including top producer Russia at its headquarters in the Austrian capital to discuss output policy.
The group started withholding supply in 2017 to prop up prices, reports Reuters.
Further, fresh foreign capital inflows took the local currency higher but a lower opening of the domestic equity markets capped the rise, dealers said.
Yesterday, the rupee had appreciated by 10 paise to close at 67.98 against the greenback on sustained selling of the American currency by exporters and local banks.
Crude Update: Oil prices rose by more than 1 percent, pushed up by uncertainty over whether OPEC would manage to agree a production increase at a meeting in Vienna later in the day.
Brent crude futures, the international benchmark for oil prices, were at $73.96 per barrel, up 1.25 percent, from their last close.
US West Texas Intermediate (WTI) crude futures were at $66.44 a barrel, up 1.37 percent.
The Organization of the Petroleum Exporting Countries (OPEC), a producer cartel de-facto led by top exporter Saudi Arabia, is meeting together with some non-OPEC members including top producer Russia at its headquarters in the Austrian capital to discuss output policy.
The group started withholding supply in 2017 to prop up prices, reports Reuters.
Click here to get Free Commodity Tips
Market Opening: Benchmark indices started off the trade on a weak note Friday amid mixed Asian cues ahead of OPEC meeting decision due later in the day.
The Sensex fell 23.01 points to 35,409.38 and the Nifty declined 12.90 points to 10,728.20.
BPCL, IOC, ICICI Bank, HCL Technologies, Bajaj Finance, Dr. Reddy's Labs, Tata Steel, and ONGC are early gainers.
UPL, Grasim, Sun Pharma, Adani Ports and Reliance Industries are under pressure.
The Nifty Midcap index fell 36 points and Nifty Bank index declined 9 points.
MT Educare, Vakrangee, Manpasand Beverages, Jet Airways, Ashok Leyland and SBI Life gained 1-9 percent.
Kwality, PC Jeweller, Jaiprakash Power, Avanti Feeds, Granules India, PTC India Financial and KEC International are losers in early trade.
The Sensex fell 23.01 points to 35,409.38 and the Nifty declined 12.90 points to 10,728.20.
BPCL, IOC, ICICI Bank, HCL Technologies, Bajaj Finance, Dr. Reddy's Labs, Tata Steel, and ONGC are early gainers.
UPL, Grasim, Sun Pharma, Adani Ports and Reliance Industries are under pressure.
The Nifty Midcap index fell 36 points and Nifty Bank index declined 9 points.
MT Educare, Vakrangee, Manpasand Beverages, Jet Airways, Ashok Leyland and SBI Life gained 1-9 percent.
Kwality, PC Jeweller, Jaiprakash Power, Avanti Feeds, Granules India, PTC India Financial and KEC International are losers in early trade.
-------------------------------------------------------------------------------------------------------------------------
For More Information regarding Stock market news updates & Commodity Tips, Intraday Calls, Share Market Tips contact us at +91-8305596871 or simply fill our Free Trial registration form linked in this blog.
No comments:
Post a Comment