Markets open flat in early trade

03/11/2016 09:26

The key domestic benchmark indices opened flat in the morning trading session tracking weakness globally as heightened investor caution ahead of the US Presidential elections curbed risk taking appetite. Traders are nervy with latest polls indicating a tightening race for the White House.

Shares of Ambuja Cements, EIH, ICRA and Whirlpool of India will remain in focus as these companies reveal their September quarter earnings. Investors will also eye the India Services PMI for the month of October which will offer further cues over the health of Asia’s third biggest economy.

At 09:20 AM, the Bombay Stock Exchange bellwether Sensex was at 27518.90 down by 8.32 points or by 0.03 per cent, while the NSE Nifty was at 8512.85 points, trading lower by 1.15 points or by 0.01 per cent.

The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 718.00,+0.46 per cent), ICICI Bank Ltd. (Rs. 273.00,+0.42 per cent), Hindustan Unilever Ltd. (Rs. 844.90,+0.41 per cent), Infosys Ltd. (Rs. 984.50,+0.35 per cent), Cipla Ltd. (Rs. 560.10,+0.23 per cent), among others.

Meanwhile, Oil And Natural Gas Corporation Ltd. (Rs. 271.25,-2.20 per cent), Tata Motors Ltd. (Rs. 511.75,-0.44 per cent), Tata Steel Ltd. (Rs. 412.00,-0.40 per cent), Tata Consultancy Services Ltd. (Rs. 2297.00,-0.32 per cent), Asian Paints Ltd. (Rs. 1060.00,-0.19 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 1207 shares traded, 771 shares advanced, 381 shares declined while 55 were unchanged.

On the global front, Asian stocks were trading lower today as traders weighed reduced odds of Democrat Hillary Clinton’s victory in the upcoming November 8, 2016 US Presidential elections following the reopening of an FBI investigation into the use of an unauthorized e-mail server, making investors nervous. US stocks closed lower in the previous trading session as tumbling crude prices and investor anxiety surrounding the US elections overshadowed the Fed’s decision to keep interest rates on hold.

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