INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Benchmark indices got off to a quiet start Thursday morning but soon recovered losses as the US Fed's rate cut signal sent a
dollar and the US bond yields falling and equities bounced globally
A gauge of global stock markets edged near this year's peak
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 per cent while Japan's Nikkei gained 0.5 per cent
However, an over 1 per cent rise in crude oil prices remained a concern
Brent crude futures rose 82 cents, or 1.3 per cent, to $62.64 as official data showed US crude stocks fell more than expected and as OPEC
and other producers finally agreed a date for a meeting to discuss output cuts.
Foreign portfolio investors (FPIs) were net sellers to the
tune of Rs 97 crore worth of domestic stocks on Wednesday, data available with NSE suggested
DIIs sold stocks worth Rs 105 crore.
At around 9:40, the BSE Sensex was up 50 points or 0.15 per cent higher at 39,170
Meanwhile, NSE Nifty was at 11,703, up 12 points or 0.10 per cent at around the same time
The expiry of weekly options could infuse volatility in today's trade
The options data show an unclear picture as highest Put open interest was at the 11,700 strike while Nifty ended on Wednesday a few points
below it, said Milan Vaishnav of Gemstone Equity Research - Advisory Services.
The IT pack was under pressure as US delays notification of
new work permit rules which pushing the markets further deep into the red zone
Jet Airways shares continued to be in pain and slipped 17 per
cent in the opening trade
Netherlands court, which had last month declared the grounded airline bankrupt, seeking to intervene
In the 30-pack Sensex, 10 stocks gained while 20 fell
Coal India was the biggest gainer, up 0.64 per cent as the management expressed confidence on its FY20 production target of 660mt
Kotak Bank, RIL, ONGC, Bharti Airtel were among other gainers rising over half a per cent.
On the other hand, Yes bank declined the most,
down 2.47 per cent, followed by IndusInd Bank, TCS, Asian Paints, Tata Motors and Maruti
All of these stocks were down 2 per cent each.
BSE Midcap and BSE Smallcap dropped 0.31 per cent and 0.71 per cent respectively.
On the
sectoral front, barring Energy and Oil - Gas, all the other sectors lost with IT being the top loser, led by heavyweights such as TCS,