Markets open flat in early trade

27/12/2016 09:19

The key domestic benchmark indices opened flat in the morning trading session tracking muted cues from fellow Asian markets as most major markets were closed on Monday for Christmas holidays. The traders may also react to Finance Minister’s statement that India need a lower level of taxation which is globally compatible if it has to have a broader base of economy.

The market may also see some volatility as trader will rollover their positions ahead of derivative expiry of December series scheduled on Thursday.

At 09:15 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 25814.49 up by 7.39 points or by 0.03 per cent, while the NSE Nifty was at 7904.95 points, trading lower by 3.30 points or by 0.04 per cent. The top gainers of the BSE Sensex pack were Lupin Ltd. (Rs. 1424.00,+1.35 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 191.00,+1.06 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 261.00,+0.64 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 615.00,+0.53 per cent), Bharti Airtel Ltd. (Rs. 297.75,+0.51 per cent), among others.

Meanwhile, Bajaj Auto Ltd. (Rs. 2563.00,-1.30 per cent), Coal India Ltd. (Rs. 282.20,-1.00 per cent), Hero MotoCorp Ltd. (Rs. 2981.00,-0.78 per cent), Mahindra & Mahindra Ltd. (Rs. 1144.00,-0.43 per cent), Axis Bank Ltd. (Rs. 430.00,-0.41 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 283 shares traded, 164 shares advanced, 100 shares declined while 19 were unchanged.

On the global front, Asian stocks were trading slightly higher today with little to guide them as most major markets were closed yesterday, 26 December 2016 for Christmas holidays.

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