In the 50-share index, GAIL, Dr Reddy’s, Wipro, Hero MotCorp and TCS were up between 0.40 per cent and 2.90 per cent in the early trade. Bosch, Cairn India, Bharti Airtel, ICICI Bank and Idea Cellular were down between 0.59 per cent and 2.51 per cent. Nifty was down 12 points at 7,830.
The BSE Sensex and NSE Nifty opened on a flat note on Friday tracking global markets. Sensex opened 14.21 points up at 25,856, while Nifty opened 0.85 points down at 7841.90.
The sugar stocks are likely to remain under pressure, on report that India’s sugar production rose by 33 per cent to 7.61 lakh tonnes till November 15th in the current marketing year on higher output from Maharashtra.
The US markets made a modestly lower closing in last session, the trade remained lackluster digesting the latest batch of US economic news, while there was modest drop in initial jobless claims, there was slightly bigger than expected increase in the index of leading economic indicators of Conference Board.
The Dow Jones industrial average on Thursday also fell 4.41 points, or 0.02 per cent, to 17,732.75. The Standard & Poor’s 500 index slipped 2.34 points, or 0.1 per cent, to 2,081.24. The Nasdaq composite lost 1.56 points, or 0.03 per cent, to 5,073.64.
The Baltic Index, which tracks rates for ships carrying dry bulk commodities and is viewed as a good reflection of the health of world trade, also fell to a record low, having fallen 58.8 per cent from its peak this year. Back home, equity markets showed marvelous performance on Thursday, supported by government announced spate of policy reforms and hopes that US Fed’s rate hike will be gradual.
The 30-share Sensex ended up by 359.40 points, or 1.41 per cent, at 25,841.92 — its biggest single-day gain since October 5. The broad-based NSE Nifty reclaimed the 7,800-level before settling at 7,842.75, up 110.95 points, or 1.43 per cent.
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