Nifty below 8400, Sensex In RED, Stock Advisory Company In Indore

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On Friday, Indian stock markets opened on flat note, and subsequently both Nifty and Sensex have slipped into red mark. At 10:20 am, the S&P BSE Sensex was trading at 27,169, down 77.90 points, while the broader Nifty50 was trading at 8,377, down 29.675 points. The BSE Midcap was trading down 0.24% and BSE small cap was trading down 0.38%. Nearly 835 shares have advanced, and 931 shares declined, and 271 shares are unaffected.

As per provisional data with BSE, on Thursday, FPIs sold shares worth a net Rs 12.77 crore, and Domestic institutional investors also sold shares worth a net Rs 110.08 crore.

Globally, Asian shares slipped but kept on track for weekly gains since investors weighed whether President-elect Donald Trump would stress growth-boosting steps when he takes office.

Commodity: ICEX to launch diamond futures in March

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The Indian Commodity Exchange (ICEX) intends to launch three futures contracts for diamonds in March to provide exporters with a hedging tool. SEBI has given its nod to the first new commodity futures contract for diamonds since taking over regulation of the market in Sept 2015. It has given the Indian Commodity Exchange an in-principle approval to launch a diamond futures contract. The exchange will initially launch three contracts for stones sized 30 cents, equal to 0.3 carats, 50 cents, equal to 0.5 carats, and 1 carat. The contracts are set to consider the requirements of market participants and the delivery centre will be the western Indian city of Surat, which polishes around 80% of the world’s diamonds, as per ICEX source.

Stock/Share Market Weekly Report 02 Jan-06 Jan

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The domestic benchmark Nifty index concluded first week of the New Year, 2017 on a positive note. The Indian stock markets finished the weekend marginally lower, when the BSE Sensex closed lower by 119 points, it added 0.05% overall to settle 26759, whereas the NSE Nifty finished lower by 30 points, added 0.07% close the week at 8243. Both Midcap & Smallcap stocks rose by 2.4% and 3.2% respectively.

A mixed rally in auto, metal and bank stocks helped the key benchmark indices score modest gains on the ultimate trading day of the week. Indian shares reversed the past week’s robust gains. Market sentiments were dented following higher oil prices, weak domestic industrial production data and increasing possibility of a delay in the implementation of GST.

Indian Stock Advisory Company In India

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Looking Indian Markets, the benchmark indices on Friday turning negative by mid-term amid falling dollar tracking mixed cues from Asian markets. At 12.30 pm, the BSE Sensex was trading at 26,864.16, down 14.08 points, while Nifty50 was ruling at 8,269, down 4.05 points.

Moving on to updaters from the banking sector, many banks haves trimmed their lending rates. The SBI slashed lending rates by 0.9% across all loan instruments. Also, ICICI Bank, Union Bank of India, PNB and IDBI Bank have followed suit and slashed their lending rates.