Sensex slips over 750 points; Nifty below 10,650 mark

Equity benchmark indices crashed in today’s session and fell more than 2%. 

Reliance Industries contributed 225 points of the fall, followed by HDFC Bank with close to another 100-point dip, while TCS and Infosys contributed to close to 80 points each.

Brent crude was trading over $86 per barrel in morning deals while WTI crude was above $76 per barrel.

On the sectoral front, the Nifty IT index is down over 2.5% weighed by Infibeam Avenues, Tata Consultancy Services and Infosys.

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What dampened market sentiment? Here are five factors

Rupee at record low: A falling rupee weighed heavy on investor sentiment. The local currency plunged to its fresh record low of 73.77 against the dollar early Thursday.

Boiling oil: Brent crude was trading over $86 per barrel in morning deals while WTI crude was above $76 per barrel.

Rising bond yields: Hardening bond yields are creating waves of panic in the domestic equity market. India’s 10-year bond yield was hovering above 8.18 per cent on Thursday against previous close of 8.11 per cent.

Foreign capital outflows: Investors remained concerned over sustained foreign money outflows as foreign portfolio investors offloaded shares worth Rs 455.02 crore in October so far.

Weak Asian cues: Subdued Asian markets spoiled market sentiment too. Japan's Nikkei edged lower in choppy trade on Thursday morning.

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Financials lift Wall Street, but rate worry caps gains

The Dow Jones Industrial Average rose 54.45 points, or 0.2 percent, to 26,828.39, the S&P 500 gained 2.08 points, or 0.07 percent, to 2,925.51 and the Nasdaq Composite added 25.54 points, or 0.32 percent, to 8,025.09.

Wall Street advanced on Wednesday and the Dow Jones Industrial Average closed at a record for a second day, after U.S. economic data fuelled a rise in Treasury yields, lifting financial stocks.

Traders now see a 79.7 percent chance of a 25 basis point hike at the December meeting of the Fed, up from 78.5 percent a day ago, according to CME's FedWatch tool.

General Motors rose 2.1 percent after Honda Motor said it would invest $2 billion over 12 years in the U.S. carmaker's Cruise self-driving unit.

Michael Kors rose 3.0 percent after Citi upgraded the stock on expectations its recent purchase of Italian fashion house Versace would boost performance.

Declining issues outnumbered advancing ones on the NYSE by a 1.04-to-1 ratio; on Nasdaq, a 1.63-to-1 ratio favoured advancers.

The S&P 500 posted 29 new 52-week highs and 14 new lows; the Nasdaq Composite recorded 38 new highs and 67 new lows.

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Indian rupee inching towards 74/USD

Indian rupee inching towards 74/USD; hits fresh record low 73.81

USD-INR pair is expected to quote in the range of 73.60 and 74.20,

The Indian rupee slipped further to a fresh record low of 73.81 per dollar on the back of rising global oil prices, and concerns over current account deficit and capital outflows.

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CAPITAL BUILDER TODAY’S NIFTY SUPPORT & RESISTANCE LEVELS

CAPITAL BUILDER TODAY’S NIFTY SUPPORT & RESISTANCE LEVELS 

S1- 10800, 

S2-10750 ,

R1- 11900 

R2-10950 : 

TREND- BEARISH

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CAPITAL BUILDER OPENING BELL

CAPITAL BUILDER OPENING BELL

NIFTY DOWN BY 103.55 @ 10754.70, 

BANKNIFTY DOWN BY 334.75 @ 24735.15, 

SENSEX DOWN BY 155.10 @ 35820.53

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Closing BEll: Sensex tanks 551 pts on falling rupee, boiling oil prices; Nifty dips 1.4% to 10,858; M&M cracks 7%

CAPITAL BUILDER CLOSING BELL :


NIFTY DOWN BY 150.05 @ 10858.25,


BANKNIFTY DOWN BY 297.10 @ 25069.90,


SENSEX DOWN BY 550.51 @ 35975.63

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Sell-off continues as Sensex slides 300 pts; IT, Autos top losers

Nifty IT and Auto were biggest losers among sectoral indices while Metal (up 3 percent) and PSU Bank (up 2 percent) topped the buying list.

Market Update:

Bears tightened their grip on Dalal Street as benchmark indices continued to trade sharply lower amid rising crude oil prices, Italy's Budget plan woes and rupee volatility.

The 30-share BSE Sensex dropped 304.04 points to 36,222.10 and the 50-share NSE Nifty dipped 81.30 points to 10,927 but the market breadth remained positive.

About two shares advanced for every share falling on the BSE.

Nifty IT and Auto were biggest losers among sectoral indices, falling around 1.7 percent each while Metal (up 3 percent) and PSU Bank (up 2 percent) topped the buying list.

Eicher Motors, M&M, Axis Bank, Bharti Infratel, TCS and UPL fell 3-6 percent followed by Reliance Industries, Infosys and Maruti Suzuki.

Bajaj Finance, Vedanta, Indiabulls Housing Finance, HPCL, Hindalco, BPCL and Yes Bank outperformed market, rallying 3-8 percent followed by IOC and SBI.

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Metal & mining stocks jump up to 5%; Vedanta, MOIL top gainers

Most metal & mining stocks were trading with decent gains in Wednesday's session, keeping the sectoral index higher. 

The Nifty Metal index was trading 2.3 per cent up at 3,609 around 12:15 pm. 

Shares of VedantaNSE 5.35 % (up 5.76 per cent), MOIL (up 5.67 per cent) and NMDC (up 4.63 per cent) were the top gainers in the metal index.

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L&T bags Rs 3,036-cr order to build terminal-2 of Bengaluru airport

Larsen & Toubro (L&T) Wednesday said its buildings and factories business has won Rs 3,036-crore order from Bangalore International Airport Ltd (BIAL) to construct terminal-2 of the Kempegowda International Airport, Bengaluru. 

"The scope of work includes design, engineering, procurement, construction, testing and commissioning of terminal-2, including the integration of services and utilities along with the airport's systems, support facilities and buildings," the engineering and construction major said in a BSE filing.

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