Sensex opens under 37,000-mark; Yes Bank, Britannia, Dr Reddy's, ITC gainers today
On global front, Asian shares went flat on Thursday as uncertainty over the outlook for both US interest rates and the chance of global fiscal stimulus sucked the life out of markets.
Indian indices begin the day with a weak start today as Sensex is down 91.50 points at 36968.87, while Nifty is down 33.40 points at 10885.30. The main gainers in the early trade are Yes Bank, Britannia, Dr Reddy's, ITC, and Sun Pharma, while LIC Housing, Indiabulls Housing, JSW Steel, Tata Steel, Axis Bank, IndusInd Bank and ICICI Bank are major losers.
Amid neutral global market, domestic institutional investors (DIIs) and futures and options (F&O) and negative foreign institutional investors (FIIs) cues the short-term trend of the domestic Indian markets will be neutral today, while sentiment will continue to be cautious, according to Anil Singhvi, Managing Editor of Zee Business. His market strategy for today suggests that 10,900 and 27,700 are the deciding levels on Nifty and Bank Nifty respectively.
On global front, Asian shares went flat on Thursday as uncertainty over the outlook for both US interest rates and the chance of global fiscal stimulus sucked the life out of markets. Moves were miniscule, with MSCI`s broadest index of Asia-Pacific shares outside Japan off 0.2% in very light volumes, according to Reuters report.
Japan`s Nikkei added 0.1%, as did Shanghai blue chips. E-Mini futures for the S&P 500 dipped 0.04%, while EUROSTOXX 50 futures eased 0.09%. Wall Street had been saved by surprisingly upbeat results from retailers, which sent Target Corp surging 20% and Lowe`s Cos Inc up 10%, Reuters added.
In currency trade, the dollar had already bounced overnight, rising to 98.263 on a basket of currencies from a low of 97.948. It also reached 106.57 yen from a trough of 106.21. The euro edged back to $1.1089 from a top of $1.1107.
In commodity markets, spot gold was steady at $1,502.53, while Oil prices firmed after US government data showed a drawdown in domestic crude stocks. Brent crude futures rose 25 cents to $60.55, while US crude gained 34 cents to $56.02 a barrel.
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Earlier on Wednesday, the domestic stock markets fell more than 0.70 per cent and closed in Red. The BSE Sensex fell 267.64 points or 0.71 per cent to close at 37,060.37, while the broader NSE Nifty tanked 98.30 points or 0.89 per cent to end at 10,918.70. Bank Nifty was down by 263.40 points or 0.94 per cent and settled at 27,719.05.